PLI and RPLI approver revised limits

  PLI and RPLI approver revised limits ...

      Revision of approver limits of proposals & settlement of claims in respect of PLI & RPLI

        In supersession of OM of this Directorate OM No. 25-1/2011-LI dated 19.10.2015 and to simplify the process of acceptance of new proposals and facilitate settlement of claims within Citizen Charter's norms, approver limits for acceptance of new proposals and settlement of claims are hereby revised as following :-

         In case of reopening of claim cases (for example, in case of court case etc), the authority competent to approve claims may re-open the claim but would submit it to the next higher authority for decision.

         The following non-financial / financial service requests will continue to be approved by Postmaster/ Manager of Central Processing Centre (GPO/ Head Office) concerned:

(a) Address change

(b) Agent change

(c) Billing frequency change

(d) Billing Method change

(e) Commutation

(f) Conversion

(g) Duplicate Policy Bond

(h) Name change

(i) Refund of premium/loan interest          or principal

(j) Reduced Paid-up

(k) Free Look / policy cancellation.

(l) Authorization of medical examiner for examine PLI and RPLI proponent

        The revised approver limits will be effective from 01.04.2020.  This issue with the approval of Competent Authority.

(Hariom Sharma)

Dy. Divisional Manager-II