Hurry – PLI has launched a special Waiver drive on default fees on the revival of lapsed PLI & RPLI policy up to 30.11.2023.
Hurry the revival period has been extended now till 30.11.2023.
Sub: Waiver on default fee on the revival of a lapsed PLI/RPLI policy upto 30.11.2023.
The following exemptions will be applicable on the revival of lapsed PLI/RPLI Policies:-
a. The waiver shall apply on the default/late fee only, on payment of revival premium in a lapsed PLI/RPLI policy (only on revival of a policy not on reinstatement). However, the maximum waiver amount that can be given various in table:
Total Premium Receivable for all type of PLI/RPLI Policies on account of revival | Concession/Waiver in Late/Default Fee | Maximum limit of Concession/Waiver in late fee restricted to |
Up to ₹ 1,00,000/- | 25% | ₹ 2500/- |
From ₹ 1,00,001/- to ₹ Up to 2 3,00,000/- | 25% | ₹ 3000/- |
From ₹ 3,00,001/- and above | 30% | ₹ 3500/- |
Also Read:-
Source- Postal life insurance.