F.No. 30-03/2013-LI
Dated:- 07.09.2022
Sub : Request to revise entry age of GDS to take new PLI/RPLI policy.
Ref: Your letter no. GDS/CHQ/18/7/2022 dated 04.07.2022
Please refer to your letter under reference on the subject. In this regard, it is intimated that the issue related to enhancement of eligibility age of GDS employees to take PLI/RPLI policies was examined in detail with reference to current bouquet of PLI/RPLI policies available and was not found feasible, considering expected rise in mortality rate after age of 55 years.
This may have negative impact on POLIF/RPOLIF funds & assets-liability mismatch which would result into rise in premia amount and lower bonus.
2. The maximum age to get engaged as GDS is 40 years. So all GDS have 15 years or more to take new PLI/RPLI (upto 55 years of age) policies. In addition, GDS-may continue EA/60 PLI/RPLI policy up to the age of 60 years and whole life assurance policies up to the age of 80 years.
3. This issues with the approval of competent authority.
