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Directorate of PLI No.25-1/2011-LI(Part)
dated 14.03.2014
Sub:
Amendments in Post Office Life insurance Rules – reg
Kindly find enclosed a copy of
Notification No. 25-1/2011-LI(Part) dated 11.03.2014 amending ‘Post Office Life
Insurance Rules-200’ for information and necessary action.
2. Aforesaid amendments are being sent to
Government of India Press for publication in the Gazette of India. Copy of Gazette Notification will
be sent once it is published in the Gazette.
3. It is further to inform that the following limits have been prescribed
for acceptance of proposals. Settlement of various types of claims and loans
etc.
i. Limit for acceptance of new
proposals and settlement of maturity, survival
benefit
claims by different authorities;
(a) Postmaster
of CPC of HOs headed by Sr. Postmaster / Head Postmaster – upto Rs 5 lakhs of
Sum Assured.
(b) Director
of CPC of New Delhi HO/ Kolkata GPO/Mumbai GPO and Postmaster of CPC of GPOs/
HOs headed by Chief Postmaster – upto Rs 10 lakhs of Sum Assured.
(c) Head
of Division – above Rs 5 lakhs of Sum Assured and upto Rs 10 lakhs of Sum
Assured.
(d) Postmaster
General of the Regional office/ Circle Office – above Rs 10 lakhs of Sum Assured.
ii. Limits for settlement of death
claims by different authorities:-
(a) Postmaster of CPC of HOs headed by Sr.
Postmaster/ Head Postmaster – upto Rs 2 lakhs of Sum Assured.
(b) Director of CPC of New Delhi HO/ Kolkata
GPO/Mumbai GPO and Postmaster of CPC of GPOs/ HOs headed by Chief Postmaster –
upto Rs 10 lakhs of Sum Assured.
(c) Head
of Division – above Rs 5 lakhs of Sum Assured and upto Rs 10 lakhs of Sum
Assured.
(d) Postmaster
General of the Regional office/ Circle Office – above Rs 10 lakhs of Sum
Assured.
Iii Limits for sanction of loan against
PLI and RPLI policies:
Postmaster
of CPC – irrespective of loan amount, but as per the eligibility
of insurant.
4. This
may kindly be circulated to all concerned.
5. This
issues with the approval of competent authority.
Sd/-
(Vipion Malhotra)
Dy. Divisional Manager (PLI)
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