Wednesday, April 2, 2014

Directorate of PLI No.25-1/2011-LI(Part) dated 14.03.2014
Sub: Amendments in Post Office Life insurance Rules – reg

            Kindly find enclosed a copy of Notification No. 25-1/2011-LI(Part) dated 11.03.2014 amending ‘Post Office Life Insurance Rules-200’ for information and necessary  action.

2.         Aforesaid amendments are being sent to Government of India Press for publication in the Gazette  of India. Copy of Gazette Notification will be sent once it is published in the Gazette.

3.         It is further to inform that the following limits have been prescribed for acceptance of proposals. Settlement of various types of claims and loans etc.

            i.          Limit for acceptance of new proposals and settlement of maturity, survival  
                        benefit claims by different authorities;
(a)  Postmaster of CPC of HOs headed by Sr. Postmaster / Head Postmaster – upto Rs 5 lakhs of Sum Assured.
(b)  Director of CPC of New Delhi HO/ Kolkata GPO/Mumbai GPO and Postmaster of CPC of GPOs/ HOs headed by Chief Postmaster – upto Rs 10 lakhs of Sum Assured.
(c)  Head of Division – above Rs 5 lakhs of Sum Assured and upto Rs 10 lakhs of Sum Assured.
(d)  Postmaster General of the Regional office/ Circle Office – above Rs 10 lakhs of Sum Assured.
            ii.         Limits for settlement of death claims by different authorities:-
(a)   Postmaster of CPC of HOs headed by Sr. Postmaster/ Head Postmaster – upto Rs 2 lakhs of Sum Assured.
(b)   Director of CPC of New Delhi HO/ Kolkata GPO/Mumbai GPO and Postmaster of CPC of GPOs/ HOs headed by Chief Postmaster – upto Rs 10 lakhs of Sum Assured.
(c)  Head of Division – above Rs 5 lakhs of Sum Assured and upto Rs 10 lakhs of Sum Assured.
(d)  Postmaster General of the Regional office/ Circle Office – above Rs 10 lakhs of Sum Assured.
            Iii         Limits for sanction of loan against PLI and RPLI policies:

                        Postmaster of CPC – irrespective of loan amount, but as per the eligibility
                      of insurant.

4.         This may kindly be circulated to all concerned.

5.         This issues with the approval of competent authority.

Sd/-
(Vipion Malhotra)

Dy. Divisional Manager (PLI)