Revival Drive for Lapsed PLI/RPLI Policies: Waiver on Default Fee
Download Revival Drive for Lapsed PLI/RPLI Policies: Waiver on Default Fee in PDF
The Ministry of Communications, Department of Posts (Directorate of Postal Life Insurance), has announced a special Revival Drive for lapsed Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI) policies. This initiative, running from March 1, 2025, to May 31, 2025, aims to encourage policyholders to revive their lapsed policies and enjoy the benefits of continued life insurance coverage.
Key Features of the Revival Drive
- Waiver on Default Fees:
- To make the process more
appealing to policyholders, a waiver on default/late fees has been
approved.
- This waiver applies
exclusively to policy revival (not reinstatement).
- Waiver Limits:Policyholders reviving their lapsed policies in a single payment (lump sum) can avail of the following concessions:
|
Total Premium Receivable |
Concession/Waiver on Late Fee |
Maximum Limit of Waiver |
|
Up to
₹1,00,000 |
25% |
₹2,500 |
|
₹1,00,001
to ₹3,00,000 |
25% |
₹3,000 |
|
Above
₹3,00,000 |
30% |
₹3,500 |
- Note:
The above figures are exclusive of GST.
Steps for Revival and Outreach
- Wide Publicity:All Circles/Divisions/CPCs are instructed to promote the Revival Drive through various channels, including:
- Print and social media
campaigns.
- Notices on display boards
at post offices.
- Messages printed on counter
receipts.
- Special revival camps and
awareness programs (melas).
- Targeted Approach:
- Focus on policies that
lapsed within the last five years, as these have the highest revival
potential.
- Extract data of such
policies from the McCamish system for targeted revival efforts.
Benefits of Revival
Policyholders
are encouraged to take advantage of this limited-period opportunity to revive
their lapsed policies. Revival ensures:
- Continuation of life
insurance benefits.
- Security for loved ones.
- Avoidance of the additional
costs of purchasing a new policy.
Call to Action
Policyholders are advised to contact their nearest post office or Customer Service Centre to know more about the Revival Drive and initiate the process of policy revival before May 31, 2025.
