Analysis of lapsed PLI RPLI policies

Directorate of Postal Life Insurance 
Department of Posts 
Ministry of Communications 
Government of India 

Chanakyapuri Post Office Complex, New Delhi-110021 
Dated 17.12.2019 


All Heads of Circles 
DDM (PLI) Circles

Office Memorandum 

Sub: Analysis of Lapsed Policies

This is regarding measures to be taken of PLI/RPLI policies that are lying lapsed in the system and has reference to CCM (PLI) letter no. 2/1/2011-LI dated 18.09.2019.

2. CEPT has shared category wise data of lapsed policies with circles for taking appropriate action as detailed in Annexure-I of the above-quoted D.O.letter dated 18.09.2019. Circles are understood to have started revival drive of policies listed under category II where policies are lapsed for 5 years or more and of category V & VI.

3. Process involves checking the list of policies under different categories, sending notices to insurants/publication notice in newspapers and revival of policies. Since, this process may take some time and the Circles are also in the process of undertaking the revival drive. Therefore, it has been decided to extend the cut-off date for revival of policies lapsed (cat.II) for 5 years or more, upto 31.03.2020.

4. In some cases, revival amount may be considerably high and insurant may not be willing/able to deposit outstanding revival amount & default fee or not willing to revive the policy lying la[sed for 5 years or more. Policyholders of such lapsed policy may be explained the benefits of PLI/RPLI plans and in case he/she is not willing to revive the policy, the same may be terminated/settled and he/she may be advised to take a new policy of appropriate sum assured. DDM/ADM (PLI) are expected to personally monitor progress of revival of lapsed policy and send a fortnightly report in this regard.

5. This issues with the approval of GM (O).

Hariom Sharma