Postal dept launches drive to revive postal life policies

Chandigarh Postal Division is holding a special drive for revival of lapsed Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI) policies from August 1-31.
"Postal Life Insurance and Rural Postal Life Insurance policies are good investment options on account of lower premium and higher bonus. To reap the benefits of these policies, regular payment of premium is mandatory.
"According to the stipulated rules, if premium is not paid for a period of more than six months in a policy which is in force for less than three years, the policy will be treated as lapsed. In case the premium is not paid for more than 12 months in a policy which is in force for more than 3 years, also the policy will be treated as lapsed," an official release said here today.

"The customer will lose the benefits on account of any claim if a lapsed policy is not revived. It is also necessary to revive one's policy to get bonus every year," the statement added.
At the same time, the release pointed out that many customers are not aware of the procedure as to how to revive their policy, whom they have to approach and other related issues.
"Now, as part of special drive, notices are being issued to such policy holders with the request to revive their policies. For the convenience of the policy holders, the department has planned to conduct a special 'policy revival drive' at all the Post Offices of Union Territory Chandigarh, besides Mohali and Ropar district in Punjab during the period from August 1-31," it said.

Under this drive, the policy holders may contact their field officers or at the designated telephone numbers for revival of their lapsed policies, it added.