In view of the covid-19 outbreak, the government has extended the Premium payment period for Postal Life Insurance and Rural Postal Life Insurance upto 30th of next month without charging any penalty.
Directorate of Postal Life Insurance(PLI) under the Ministry of Communications said that although many Post Offices are functional as part of essential services, Postal Life Insurance and Rural Postal Life customers are facing difficulty in approaching post
offices for payment of premium. It said, as a measure of convenience to all the customers, the period of payment has been extended.
The decision is likely to benefit approximately 13 lakh policy holders who have not been able to pay premium for current month. As compared to about 42 lakh policy holders who paid premium last month, only 29 lakh of them have been able to pay premium for this month till Monday.