India Posts extends insurance premium payment deadline till Jun 30

The postal department said there is complete lockdown across the country in view of the threat posed by the outbreak of Corona Virus (COVID-19) and central/state governments have issued several advisories and imposed restrictions on the movement of general public.

"As a measure of convenience to all the PLI / RPLI customers, Directorate of Postal Life Insurance has given an extension of period for payment of their due premium of March 2020, April 2020 and May 2020 upto June 30, 2020 without charging any penalty/default fee," the Department of Post said in a statement.

According to official data there are 64.62 lakh Postal Life Insurance (PLI) policies and 2.5 crore lakh RPLI were active in March.

Benefits of PLI were available to government and semi-government employees, which have recently been extended to professionals and employees of listed companies of NSE (National Stock Exchange) and BSE (Bombay Stock Exchange) in October, 2017.

RPLI scheme is envisaged to provide insurance cover to the people living in rural areas in general and to benefit weaker sections and women workers of rural areas in particular.

"PLI and RPLI customers are facing difficulty in approaching post offices for payment of premia inspite of the fact that many Post Offices are functional as part of essential services. The decision has been taken because The Department has advised Customers registered on portal to pay premium online using PLI customer Portal," the statement said.