postal life insurance: Documents needed to redeem postal life insurance

Postal Life Insurance (PLI) has grown from a few hundred policies in 1884 to over 50 lacs policies as of March 31, 2021, according to the India Post website.

PLI covers employees of central and state governments, defense and para-military services, public sector companies, banks, educational institutions, local bodies and many other professionals.

  • Under PLI, here are the plans offered:
  • Whole life insurance (Suraksha)
  • Convertible Whole Life Insurance (Suvidha)
  • Endowment Insurance (Santosh)
  • Joint Life Insurance (Yugal Suraksha)
  • Advance Endowment Insurance (Sumangal)
  • Children Policy (Bal Jeevan Bima)

According to the India Post website, here are the things a policyholder should note after purchasing a policy:

1) I have kept the bond in a safe place

2) I have informed someone where the deposit is kept

3) I checked the policy schedule in the 1st page

4) I noted the policy number in my diary as well as the due dates and the amount of the premium

5) I noted the telephone number of the Post Office in my diary

6) I have noted the coordinates of PLI INFO Center

7) I understand that in my own interest, I must keep PLI informed of my change of address, telephone number, e-mail address.

8) I noted that I should pay the premium even though I did not receive the notice

9) I have a candidate under this policy

Now, if for some reason you want to redeem a PLI insurance policy, you will need to submit a few documents. Here is the list of documents you need to keep handy before starting the PLI policy submission process, according to the India Post’s tweet on its official Twitter account.

Checklist of documents to submit for surrender –

  • Void check (required only if EFT as disbursement type)
  • Canceled cheque/TEF form
  • DOC for the last year in case of salary recovery
  • Duplicate police bond (in case of loss of document)
  • Indemnity bond if duplicate bond is not available.
  • Loan repayment receipt book (if existing loan on policy)
  • Police duty.
  • Premium Receipt Book
  • Redemption request form.


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