Postal Life Insurance Premium Payment Deadline Extended

Considering the restrictions imposed on the free movement of citizens during the lockdown to curb the spread of COVID-19, India Post on Saturday has extended the last date of paying a premium for postal life insurance and rural postal life insurance till 30 June.

"As a measure of convenience to all the PLI / RPLI customers, Directorate of Postal Life Insurance has given an extension of period for payment of their due premium of March 2020, April 2020 and May 2020 upto June 30, 2020 without charging any penalty/default fee," the Department of Posts said in a statement.

According to official data, 64.62 lakh Postal Life Insurance (PLI) policies and 2.5 crore lakh RPLI (Postal Life Insurance) were active in March. While the benefits of PLI are available to government and semi-government employees, it had been extended to professionals and employees of listed companies of NSE and BSE in 2017.

The RPLI scheme is aimed at providing insurance cover to the people living in rural areas in general and to benefit weaker sections and women workers of rural areas in particular.

"PLI and RPLI customers are facing difficulty in approaching post offices for payment of premia inspite of the fact that many Post Offices are functional as part of essential services. The decision has been taken because The Department has advised Customers registered on portal to pay premium online using PLI customer Portal," the statement said.