Copy of PLI Directorate letter No. 29-08/2009-LI (Pt) dated 25.10.2012
To
All Heads of Circles
Addl. DG (APS)
Sub: Introduction of facility of automatic credit of PLI/ RPLI monthly premium from savings account of insured persons.
In the last few years, there has been massive expansion of Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI). However, it has been noticed that a number of policies particularly in RPLI lapse after a while. One of the reasons for lapsation is absence of convenient ways of depositing premia of the policy(ies). As such, it was under consideration of the Department to provide facility of automatic deduction of premia from Savings Account so that (i) the policy holder(s) need not have to visit Post Office every month for depositing premia of his PLI/ RPLI policy and (ii) lapsation of PLI/ RPLI policies gets reduced.