Date: 2015-10-01Category: Extra OrdinaryState: Union GovernmentCountry: India
In exercise of powers conferred vide Rule 3 of Post Office Life Insurance Rules (2011) and on the basis of Actuarial Valuation of the assets and liabilities of Post Office Life Insurance Fund (POLIF) as on 31.03.2014, the Director General (Posts) is pleased to declare a simple Reversionary Bonus on the Postal Life
Executive Summary:
This document comprises two notifications from the Department of Posts, concerning Reversionary Bonus rates for Rural Postal Life Insurance (RPOLI) and Postal Life Insurance (POLI) policies. The RPOLI rates are declared as of September 17, 2015, based on the actuarial valuation as of March 31, 2013, and POLI rates are declared as of September 30, 2015, based on the actuarial valuation as of March 31, 2014. The rates are applicable from the date of receipt of each notification.
Key Points / Main Content:
Rural Postal Life Insurance (RPOLI) Bonus Rates (as of September 17, 2015):
* Whole Life Assurance (WLA): Rs. 65 per thousand of sum assured.
* Endowment Assurance (EA): Rs. 50 per thousand of sum assured, including Children Policy.
* Anticipated Endowment Assurance (AEA): Rs. 47 per thousand of sum assured, including GY policies.
* Convertible Whole Life Assurance: Whole Life Bonus rate applies, but Endowment Bonus rate applies upon conversion.
* These bonus rates are applicable from the date of notification receipt by the Circles and will also be applicable to claim cases received but not settled until the date of receipt of this Notification.
Postal Life Insurance (POLI) Bonus Rates (as of September 30, 2015):
* Whole Life Assurance (WLA): Rs. 85 per thousand of sum assured.
* Endowment Assurance (EA): Rs. 58 per thousand of sum assured, including Joint life children policies.
* Anticipated Endowment Assurance (AEA): Rs. 53 per thousand of sum assured.
* Convertible Whole Life Policies (CWA): Whole Life bonus rate applies, but Endowment Assurance bonus rate applies upon conversion.
* Terminal Bonus: Rs. 20 per sum assured of Rs. 10,000, subject to a maximum of Rs. 1000 for Whole Life Assurance and Endowment Assurance policies with a term of 20 years or more.
* These bonus rates are applicable from the date of notification receipt by the Circles and will also be applicable to claim cases received but not settled until the date of receipt of this Notification.
General Bonus Information (Both RPOLI and POLI):
* Interim Bonus: Payable for all claims arising due to maturity or death until future valuation is completed, at the rates specified above.
* Rounding: Bonus amounts with a fraction of 50 paisa or more are rounded to the next higher Rupee; fractions below 50 paisa are ignored.
* The rates of Bonus for the year 2012-2013 (RPOLI) and 2013-2014 (POLI) will be applicable from the date of receipt of this Notification by the Circles.
Impact Analysis:
Policyholders:
* Impact: Policyholders will receive Reversionary Bonuses at the declared rates upon their policies becoming claims due to death or maturity.
* Action Required: No specific action is required from policyholders; the bonus will be applied automatically to eligible claims.
Department of Posts/Circles:
* Impact: The Department of Posts and its Circles are responsible for implementing the new bonus rates.
* Action Required: Implement the new bonus rates for eligible claims and ensure proper communication of the changes. Also, the rates are applicable from the date of notification receipt by the Circles.
Key Entities Referenced
Post Office Life Insurance Rules 2011: A set of rules governing Post Office Life Insurance policies, referenced as the basis for exercising powers related to bonus declarations.
Director General Posts: The official authorized to declare Reversionary Bonus rates on Postal Life Insurance Policies and Rural Postal Life Insurance Policies.
Postal Life Insurance Policies: Life insurance policies offered through the postal system, on which Reversionary Bonuses are declared.
Rural Postal Life Insurance Fund RPOLIF: The fund associated with Rural Postal Life Insurance, whose assets and liabilities are subject to actuarial valuation to determine bonus rates.
Post Office Life Insurance Fund POLIF: The fund associated with Postal Life Insurance, whose assets and liabilities are subject to actuarial valuation to determine bonus rates.
New Delhi: The city where the notifications regarding Reversionary Bonus rates for Postal Life Insurance are issued.
Ministry of Communications and Information Technology: The government ministry under which the Department of Posts, responsible for Postal Life Insurance, falls.
Department of Posts: The department responsible for Directorate of Postal Life Insurance and the issuance of notifications regarding Postal Life Insurance policies and related matters.
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EXTRAORDINARY
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PART I—Section 1
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PUBLISHED BY AUTHORITY
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No. 251] NEW DELHI, THURSDAY, OCTOBER 1, 2015/ASVINA 9, 1937
ससससचचंंचचंं ाााारररर एएएएवववव ंं ंंससससचचूूचचूू ननननाााा (cid:11)(cid:11)(cid:11)(cid:11)ौौौौ(cid:13)(cid:13)(cid:13)(cid:13)ोोोोििििगगगगकककक(cid:18)(cid:18)(cid:18)(cid:18) मममम(cid:20)(cid:20)ंं(cid:20)(cid:20)ंं ााााललललयययय
((((डडडडााााकककक ििििववववभभभभाााागगगग))))
((((डडडडााााकककक जजजजीीीीववववनननन बबबबीीीीममममाााा ििििननननददददेेशशेेशशााााललललयययय))))
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:4)द(cid:6)ली, 17 िसत(cid:12)बर , 2015
फफफफाााा.... ससससंं..ंं.. 5555----4444////Val.Report/RPLI/12-13 ....————डाकघर जीवन बीमा िनयमावली(2011) के िनयम 3 म(cid:30) (cid:31)द शि"य# का (cid:31)योग करते &ए
तथा (ामीण डाकघर जीवन बीमा िनिध क* प,रसंपि य# व दये ता. के बीमांकक मू(cid:6)यन (आरपीओलआईएफ) के 31-03-2013 के
आधार पर, महािनदशे क (डाक), (ामीण डाक जीवन बीमा पॉिलिसय# के मृ2यु अथवा प,रप6ता के कारण उनके दावे बनने पर
िन8िलिखत दर# पर साधारण (cid:31)2यावत;नीय बोनस क* घोषणा करते ह >:-
बबबबीीीीममममाााा पपपपॉॉॉॉललललीीीीससससीीीी ककककाााा (cid:11)(cid:11)(cid:11)(cid:11)ककककाााारररर बबबबोोोोननननसससस कककक(cid:18)(cid:18)(cid:18)(cid:18) ददददरररर
i. आजीवन बीमा (ड?(cid:6)यूएलए) बीिमत रािश का @. 65/- (cid:31)ित हजार @पए
ii. साविध बीमा (ईए) बीिमत रािश का @. 50/- (cid:31)ित हजार @पए
(बाल पािलिसय# सिहत)
iii. (cid:31)2यािशत साविध बीमा (एईए) बीिमत रािश का @. 47/- (cid:31)ित हजार @पए
(जीवाई पािलिसय# सिहत)
iv. प,रवत;नीय आजीवन बीमा आजीवन बीमा बोनस क* दर(cid:30) लागू ह#गी Cकतु प,रवत;न के पDात साविध
बीमा के बोनस क* दर(cid:30) लागू ह#गी।
2. वष; 2012-2013 के िलए बोनस क* दर(cid:30) इस अिधसूचना के सक;ल# म(cid:30) (cid:31)ाH होने क* तारीख से लागू ह#गी तथा यह उन दावा
मामल# के िलए भी लागू ह#गी जो इस अिधसूचना क* (cid:31)ािH क* तारीख तक (cid:31)ाH हो चुके थे पर िनपटाए नहK गए थे।
3. उि(cid:6)लिखत अंत,रम बोनस क* दर(cid:30) भिवLय का मू(cid:6)यन पूरा होने तक प,रप6ता अथवा मृ2यु के कारण (cid:4)कए जाने वाले सभी दाव#
के िलए भी देय ह#गी।
4. बोनस म(cid:30) स(cid:12)मिलत 50 पैसे या उससे अिधक के अंश को अगले @पए म(cid:30) पूणाO(cid:4)कत (cid:4)कया जाए तथा 50 पैसे से कम के अंश क*
गणना न क* जाए।
िवPपवन पती, मुQय महा(cid:31)बRधक (डाजीबी)
4181 GI/2015 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
MINISTRY OF COMMUNICATIONS AND INFORMATION TECHNOLOGY
(Department of Posts)
DIRECTORATE OF POSTAL LIFE INSURANCE
NOTIFICATION
New Delhi, the 17th September, 2015
File No.5-4/Val. Report/RPLI/12-13.—In exercise of powers conferred vide Rule 3 of Post Office Life Insurance Rules
(2011) and on the basis of Actuarial Valuation of the assets and liabilities of Rural Post Office Life Insurance Fund
(RPOLIF) as on 31.03.2013, the Director General (Posts) is pleased to declare a simple Reversionary Bonus on the Rural
Postal Life Insurance Policies on their becoming claims, due to death or maturity at the following rates:-
Type of Insurance Policy Rate of Bonus
i. Whole Life Assurance (WLA) Rs. 65/- per thousand of sum assured
ii. Endowment Assurance (EA) Rs. 50/- per thousand of sum assured
(including Children Policy)
iii. Anticipated Endowment Assurance (AEA) Rs. 47/- per thousand of sum assured
(including GY policies)
iv. Convertible Whole Life Assurance Whole Life Bonus rate would be applicable
but on conversion endowment Bonus rate will
be applicable.
2. The rates of Bonus for the year 2012-2013 will be applicable from the date of receipt of this Notification by the
Circles and this will also be applicable to claim cases received but not settled till the date of receipt of this Notification.
3. Interim Bonus at the rates mentioned above will also be payable for all claims arising due to maturity or death
until future valuation is completed.
4. The amount of Bonus involving a fraction of 50 paisa or more shall be rounded off to the next higher Rupee and
fraction below 50 paisa shall be ignored.
VISHVAPAVAN PATI, Chief General Manager (PLI)
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:4)द(cid:6)ली, 30 िसत(cid:12)बर , 2015
फफफफाााा.... सससस..ंं..ंं 4444----4444////2222000011115555----एएएएललललआआआआईईईई ....————डाकघर जीवन बीमा िनयमावली(2011) के िनयम 3 म(cid:30) (cid:31)द शि"य# का (cid:31)योग करते &ए तथा डाकघर
जीवन बीमा िनिध क* प,रसंपि य# व दये ता. के बीमांकक मू(cid:6)यन (पीओलआईएफ) के 31-03-2014 के आधार पर, महािनदेशक(डाक),
डाक जीवन बीमा पॉिलिसय# के मृ2यु अथवा प,रप6ता के कारण उनके दावे बनने पर िन8िलिखत दर# पर साधारण (cid:31)2यावत;नीय बोनस
क* घोषणा करते ह> :-
बबबबीीीीममममाााा पपपपॉॉॉॉललललीीीीससससीीीी ककककाााा (cid:11)(cid:11)(cid:11)(cid:11)ककककाााारररर बबबबोोोोननननसससस कककक(cid:18)(cid:18)(cid:18)(cid:18) ददददरररर
i. आजीवन बीमा((((डडडड(cid:30)(cid:30)(cid:30)(cid:30)(cid:31)(cid:31)(cid:31)(cid:31)ययययएएूूएएूू ललललएएएए)))) बीिमत रािश का @. 85/- (cid:31)ित हजार @पए क* बीिमत रािश के िलए
ii. साविध बीमा((((ईईईईएएएए)))) बीिमत रािश का @. 58/- (cid:31)ित हजार @पए क* बीिमत रािश के िलए
((((बबबबाााालललल पपपपााााििििललललससससीीीी एएएएववववं ं ं ं ययययगगुुगगुु लललल ससससररुुररुु """"ाााा
पपपपााााििििललललििििससससयययय#### ससससििििहहहहतततत))))
iii. (cid:31)2यािशत साविध बीमा((((एएएएईईईईएएएए)))) बीिमत रािश का @. 53/- (cid:31)ित हजार @पए क* बीिमत रािश के िलए
iv. प,रवत;नीय आजीवन बीमा आजीवन बीमा बोनस क* दर(cid:30) लागू ह#गी Cकतु प,रवत;न के पDात साविध बीमा
के बोनस क* दर(cid:30) लागू ह#गी।¹Hkkx Iµ[k.M 1º Hkkjr dk jkti=k % vlk/kj.k 3
v. आविधक बोनस 20 वष; और उससे अिधक अविध क* आजीवन बीमा पािलिसय# तथा साविध
बीमा पािलिसय# के िलए अिधकतम @. 1000/- क* सीमा के साथ (cid:31)ित बीिमत
रािश @. 10000/- के िलए @. 20/-
2. वष; 2013-2014 के िलए बोनस क* दर(cid:30) इस अिधसूचना के सक;ल# म(cid:30) (cid:31)ाH होने क* तारीख से लागू ह#गी तथा यह उन दावा
मामल# के िलए भी लागू ह#गी जो इस अिधसूचना क* (cid:31)ािH क* तारीख तक (cid:31)ाH हो चुके थे पर िनपटाए नहK गए थे।
3. उि(cid:6)लिखत अंत,रम बोनस क* दर(cid:30) भिवLय का मू(cid:6)यन पूरा होने तक प,रप6ता अथवा मृ2यु के कारण (cid:4)कए जाने वाले सभी दाव#
के िलए भी देय ह#गी।
4. बोनस म(cid:30) स(cid:12)मिलत 50 पैसे या उससे अिधक के अंश को अगले @पए म(cid:30) पूणाO(cid:4)कत (cid:4)कया जाए तथा 50 पैसे से कम के अंश क*
गणना न क* जाए।
िवPपवन पती, मुQय महा(cid:31)बRधक (डाजीबी)
NOTIFICATION
New Delhi, the 30th September, 2015
F. No. 4-4/2015-LI.—In exercise of powers conferred vide Rule 3 of Post Office Life Insurance Rules (2011) and on the
basis of Actuarial Valuation of the assets and liabilities of Post Office Life Insurance Fund (POLIF) as on 31.03.2014,
the Director General (Posts) is pleased to declare a simple Reversionary Bonus on the Postal Life Insurance Policies on
their becoming claims, due to death or maturity at the following rates:-
Type of Insurance Policy Rate of Bonus
i. Whole Life Assurance (WLA) Rs. 85/- per thousand of sum assured
ii. Endowment Assurance(EA) Rs. 58/- per thousand of sum assured
(including Joint life & children policies)
iii. Anticipated Endowment Assurance (AEA) Rs. 53/- per thousand of sum assured
iv. Convertible Whole Life Policies(CWA) Whole Life bonus rate would be applicable but on conversion
Endowment Assurance bonus rate will be applicable
v. Terminal Bonus Rs. 20/- per sum assured of Rs. 10,000/- subject to maximum
of 1000 for Whole life assurance and Endowment assurance
policies with term of 20 years or more.
2. The rates of Bonus for the year 2013-2014 will be applicable from the date of receipt of this Notification by the
Circles and this will also be applicable to claim cases received but not settled till the date of receipt of this Notification.
3. Interim Bonus at the rates mentioned above will also be payable for all claims arising due to maturity or death
until future valuation is completed.
4. The amount of Bonus involving a fraction of 50 paisa or more shall be rounded off to the next higher Rupee and
fraction below 50 paisa shal l be ignored.
VISHVAPAVAN PATI, Chief General Manager (PLI)
Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.