Postal dept extends insurance premium payment date till Apr 30

The Department of Posts on Monday extended premium payment date for postal life Insurance and rural postal life insurance till April 30.

"In view of the threat posed by the outbreak of coronavirus and the complete lockdown across India, Directorate of Postal Life Insurance(PLI) has given an extension of period for payment of their due premium of March 2020 upto April 30 2020 without charging any penalty/default fee," an official statement said.

Directorate of PLI said although many post offices are functional as part of essential services, postal life insurance (PLI) and rural postal life insurance (RPLI) customers are facing difficulty in approaching post offices for payment of premium.

The decision is likely to benefit approximately 13 lakh policy holders (5.5 Lakh PLI and 7.5 Lakh RPLI) who have not been able to pay premium for current month. As compared to about 42 lakh policy holders who paid premium last month, only 29 lakh of them have been able to pay premium for this month till date, the statement said.

"Customers registered on portal have also been advised to pay premium online using PLI customer Portal," it added.