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PLI/RPLI. PLI- Eligibility. Government servants Defence Service GDS Govt aided Educational Institutions Universities established by Govt Local Bodies- Municipalities, ZPs Banks. PLI- Plans available. 1. Whole Life Assurance (SURAKSHA) Payment only to nominee on death of insurant

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Pli eligibility
PLI- Eligibility

  • Government servants

  • Defence Service

  • GDS

  • Govt aided Educational Institutions

  • Universities established by Govt

  • Local Bodies- Municipalities, ZPs

  • Banks

Pli plans available
PLI- Plans available

1. Whole Life Assurance (SURAKSHA)

  • Payment only to nominee on death of insurant

  • Premium payable for selected period

    2. Endowment Assurance (Santhosh)

  • Lump sum payment at desired age

  • Payment to nominee- on death

Pli plans available1
PLI- Plans available

3. Convertible Whole Life Assurance (Suvidha)

  • Less premium for 1st 5 years

  • Conversion option with higher premium

    4. Joint Life Insurance (Yugala suraksha)

  • Payment at the end of term

  • Payment to either of two lives- on death

Pli plans available2
PLI- Plans available

5. Anticipated Endowment Assurance (Sumangala)

  • Payment at periodical intervals

  • Payment at the end of the term- on death

Pli plans available3
PLI- Plans available

  • 6.Children’s Policy

    • Both parent’s and children’s risk covered

    • Parent should have a policy

    • Non-medical policy

    • Minimum- Rs.20,000

    • Maximum- Rs.1 lac

    • One E/A

    • Two children only

After sales service
After sales Service

  • Transfer: Outward

    1. Generate & authentication of ledger card

    2. Verify credits, intimate arrears of premium if any

    and current month premium

    3. Transfer of case file to the transferee region

    4. Make entries in the register and the system

    5. Authorise change of Post office in the PRB and

    send transfer intimation

    6. Despatch all documents

  • Transfer-Inward

    1. Receive file from other region

    2. Verify whether updated KLC is sent duly authorised

    3.Feed the data

    4. Make entries in the register of inward


Duplicate premium receipt book
Duplicate premium receipt book

  • Issued at Divisional level

  • Check if fee Rs.2/ is paid

  • Verify whether insurant furnished reasons for loss

  • Verify non/missing credits from HO

  • Make entries in the duplicate PRB register & in the system

  • Prepare DPRB and send within a week

  • Instruction to the insurant to surrender the original if traced subsequently

Duplicate policy document
Duplicate policy document

  • Check whether original is irrecoverable/lost and that was not assigned/mortgaged

  • Documents to be produced:

    a) Check if fee of Rs.50/ is paid

    b) Indemnity bond with non-adhesive judicial

    stamp fee

    c) Two sureties

    d) Affidavit obtained from notary public

    e) Advertisement in Newspaper in case sum

    assured exceeds 5,00,000

Duplicate policy bond contd
Duplicate policy bond contd..

  • Newspaper advt. is exempted if FIR is produced in case of theft/certificate is produced in case of natural calamities

  • Generate Duplicate PD

  • Make entries of duplicate PD in KLC

  • Forward the DPD with instruction to surrender the original if traced


  • Check the following points;

  • Whether policy is lapsed

  • Whether the revival is not availed for more than two occasions

  • Whether repayment in one lump

    or installments

  • Whether any non-credit/missing credit /short collection is there

Revival continued
Revival continued..

  • Whether insurant furnished medical certificate in the format prescribed

  • Whether declaration from two respectable persons furnished

  • Whether good health declaration is given whether reasons for non –payment are furnished

Revival continued1
Revival continued

  • Revival calculation formula in case of less than twelve premiums

    n x (n+1)X premium



  • For more than 12 months defaults compound rate of interest

  • Send revival intimation letter

  • On receipt of intimation reg. payment of

    arrear premia with interest, issue formal sanction of revival

  • Make entries in the revival register

Change of nomination
Change of nomination

  • On receipt of request with PD and change of nomination form

  • Change the nomination

  • Make entries in all relevant records

  • Despatch the PD to the insurant

Alteration of policy
Alteration of policy

1. Alteration in name

2. Corrections in policies

3. Alteration in payment of policy money &

conversion of ordinary policies to those

issued under married women’s

property act.

Alteration of policy continued
Alteration of policy continued..

  • Change of name on account of having been adopted

  • Ladies on account of marriage or remarriage

  • The insurant should produce evidence for change in the name viz.,

    1. A notification in Govt. Gazette

    2. An advertisement in the newspaper

    3. A declaration or an affidavit made before

    the Magistrate

    4. Adoption deed

  • Correction in policy

    Verify the corrections, if genuine, is reconciled and amended

Alteration of policy contd
Alteration of policy contd..

Change in class or term

a) Verify whether insurant willing to credit enhanced premium

b) Policy should be in force

c) Premium rate should not be lower than that of rate before alteration

d) Change can be made after one year from the date of policy or before one year of its maturity.

Alteration of policy contd1
Alteration of policy contd..

  • Reduction in sum assured

    1.Reduction allowed within 6 months from the commencement of the policy or three months from the date of issue of policy whichever is later

    2. Satisfactory good health or medical report is obtained

    3.Suitable endorsement on the policy is made

    4.Excess premium, if any, refund sanction issued

Alteration of policy contd2
Alteration of policy contd..

  • Discontinuation/reduction of premia or sum assured

    Insurant may apply for reduction of monthly premium at any time without altering the class of policy (except AEA)


    After payment of premium for 3 yrs

    policy can be made paid up for a reduced sum

Alteration of policy1
Alteration of policy

  • Split up policy into two or more

    1.Cost of preparation of fresh policy to

    be borne by the insurant (Rs.25/)

    2. If there is loan only after the loan is

    fully repaid

    3. If it is assigned, only after it is



  • Conversion from CWL to EA

  • Whether request is made within 5 yrs or extended period of one yr

  • Effect conversion as EA 50, 55, 58 60

  • Difference of premium to paid by the insurant

  • First time conversion is free, subsequent conversion fee Rs.20/

    From WLA to EA, EA to EA, the policy should have completed one yr and one yr remained for payment of revised payment


  • Verify status of KLC

  • Premia should have been paid for a min. of 3 yrs for EA and 4 yrs for WLA

  • No loan for AEA and children policy

  • Missing/non-credit of premia got verified

  • A second or subsequent loan after adjusting the outstanding loan +interest


After adjustment of outstanding loan with interest, if balance works out to less than Rs.1000/ no loan


  • Assign PD in favour of President of India

  • Work out half yearly interest @10% p.a on loan account

  • Issue loan sanction and LRRB

Review of loan
Review of loan

  • Interest for the half yr charged on the amount outstanding on the first day of the half yr

  • In case of final repayment, interest will not be charged beyond the last date of the month in which final payment is made, provided that interest had been charged for atleast six months

  • If there are continuous 3 defaults, action may be taken to surrender the policy


  • Verify the status of KLC

  • Check if premia is paid for 3 yrs in EA

    4 yrs in WLA policies and 5 years in children policy

  • Whether premia paid upto current month

  • No surrender for AEA


  • Check for any missing/non-credits

  • Check if outstanding loan with interest to be adjusted in the surrender value

  • In discontinued policy, where premium paid for >3 yrs, eligible paid up value to be paid

  • Add bonus if policy completed 5 yrs

  • For policies of advance payment annually,

    S.V. is calculated at the end ofyear, but payment is made when the policyholder asks for it.


Paid up value=Sum assured X Paid period


Payable period

Surrender amount=(Paid up value +Proportionate Bonus) X S.F


  • Verify KLC

  • Check for missing/non-credits

  • Calculate eligible maturity + year wise bonus (April to March) by adjusting outstanding loan with interest

  • If it is AEA, survival benefit already paid to be adjusted

Death claim
Death claim

  • Check original PD, Premium receipt book, loan repayment book, if any

  • Death certificate, FIR/postmortem report/forensic report if required

  • Court directions in case of disputes

  • Leave report from the employer for the last 3 years

  • Certificate issued by doctor/hospital who last attended

  • Enquiry report of IP/ASP

Time schedule for settlement
Time schedule for settlement

  • Revival of Policy

  • Issue of duplicate bond

  • Inter-circle transfer

  • Maturity

  • Loan

  • Death claim with nomination

  • Death claim involving investigation

    (Source: Citizen Charter)

  • 15 days

  • 10 days

  • 10 days

  • 30 days

  • 10 days

  • 30 days

  • 90 days


  • If payment of claim is attributable to administrative delays, interest @ 8%

    shall be payable for

  • For more than 30 days from the date of receipt of complete papers or from the date of maturity whichever is later

  • For more than 60 days, from the actual date of complete papers in case of death claim in cases no investigation is required

Death claim continued
Death claim continued..

  • If death by suicide within 2 years of acceptance – No claim allowed.

  • In other cases check

    • Whether premium credited to upto death

    • Non-credits if any, reasons

    • Whether payment of regular premia is within the grace period

Death claim continued1
Death claim continued..

  • If premature death, i.e ,< 3 years

  • < 6 months of the date of acceptance, no remission period

    If death is between

  • 6 months to 12 months- remission period 30 days+ grace period

  • 12 months to 24 months– remission period 60 days + grace period

  • 24 months to 36 months –remission period 90 days + grace period

Death claim continued2
Death claim continued

  • If death occurs after 3 years, and if it is lapsed condition, nominee is entitled for paid up value

  • Death claim benefit will be assured+ bonus year wise

  • However, if death occurs, after the anniversary of the policy, bonus for the exited year also to be paid, subject to recovery of premium up to the end of that year.

  • In case of murder, if the nominee/legal heir

    involved, such person debarred from receiving policy money.

Death claim continued3
Death claim continued

  • Succession certificate required

    • if no nomination

    • if in case nominee is minor but guardian is no


    • minor nominee but there is no appointee

    • death of minor nominee

    • if claim amount exceeds Rs. One lakh.

Claim of missing persons
Claim of missing persons

  • If reported missing, obtain proof of having lodged FIR with police and final report

  • A decree of court that the assured is dead

  • Indisputable proof of death should be produced

  • Suppression of fact, rule 7 and its proviso apply


  • Check whether policies have 6/3 continuous credits

  • Issue sanction memo for financial year for DO PLI/Direct Agent/FO & other for procurement of effective business

  • For RPLI- Divisional office will sanction the commission