PLI Policy Duplicate Bond Application | Letter of indemnity form
If you have lost your PLI/RPLI policy bond, there is no need to worry anymore. PLI has introduced a simplified process to obtain a duplicate policy bond. The previous requirements of placing an advertisement in a newspaper and having a witness have been eliminated. The key features of the new process are as follows:
Discontinuation of Newspaper Advertisement: The practice of advertising the loss of a PLI/RPLI policy bond in a newspaper is no longer necessary.a
Removal of Witness Requirement: The need for a witness during the process has been eliminated.
Streamlined Procedure: The new process has been designed to be more efficient and user-friendly.
Please note that these changes aim to simplify the procedure for obtaining a duplicate policy bond.
Duplicate PLI bond process simplified
Newspaper Advertisements for Lost PLI/RPLI Policies No Longer Required, Regardless of Sum Assured
We are pleased to inform you that the mandatory practice of publishing newspaper advertisements for lost PLI/RPLI policies, regardless of the sum assured, has now been eliminated. Instead, a new procedure has been implemented to simplify the process.
The requirement for conducting discrete inquiries into the loss of a policy has been abolished. In its place, the policyholder is now required to provide a written undertaking confirming the irretrievable loss of the policy and ensuring that it has not been mortgaged, assigned, or submitted elsewhere for any purpose.
Furthermore, the fee for obtaining a duplicate policy has been increased from Rs. 50/- to Rs. 100/-. This fee should be deposited at any post office along with a completed application form for the duplicate PLI policy bond.
For policies with a sum assured of up to Rs. 10 lakh, the approval for issuing a duplicate policy document may be obtained at the CPC level. However, policies with a sum assured exceeding Rs. 10 lakh require authorization from the Head of the Division.
Please note that this new order will be effective from the date of the Gazette Notification’s issuance.
To apply for a duplicate PLI bond, please submit your application for a duplicate PLI policy bond at the nearest post office or CPC.
PLI duplicate policy bond form in MS Word can be downloaded here. Downloads
Application for duplicate PLI bond form can be downloaded here- Downloads
Form Fill up process Watch Here
Like this:
Like Loading...
