Government of India Ministry of Communications, Department of Posts DIRECTORATE OF POSTAL LIFE INSURANCE Chanakyapuri Post Office Complex, Chanakyapuri, New Delhi-110021
No. 18-02/2022-LI
Dated: 01.07.2022
Subject: Payment of incentive for PLI/RPLI business
procured in the month of May 2022 - regarding.
Madam/Sir,
This is regarding payment of incentive for PLI
and RPLI business procured by all categories of sales force in the month of May
2022
2. In this connection, the undersigned is
directed to convey approval of the competent authority for payment of the
incentive due to all categories of sales force for PLI and RPLI business
procured in the month of May 2022. Booking of incentive payment may be made in
the correct head of account/GL code.
3. Circles are requested to make incentive payment for the month of May 2022 by 20 July 2022 and send a compliance report to PLI Directorate. The incentive payment by Circles must not exceed the incentive liability as intimated by Circles for the month of May 2022
4. Further, it is once again reiterated that as per para 7.3 of PLI Directorate letter no 28-03/2019-LI (4) dated 25.06.2021, "If a sales force does not procure a minimum of four (4) new policies in a financial year (FY 2022-23), the license (provisional/permanent) of the sales force may deemed to be terminated w.e.f. 01.04.2023. In case, if the said sales force, whose license has been terminated on account of non-procurement of four (4) policies in a financial year, wants to procure PLI/RPLI business, then she/he may apply afresh for license and a new agency code will be allocated to her/him. Under no circumstances, the terminated license of the sales force shall be reactivated".
5. This issues with approval of the competent authority
(Shiv Kuma Assistant Director (PLI)
