Date: 2016-07-22Category: Extra OrdinaryState: Union GovernmentCountry: India
In exercise of powers conferred vide Rule 3 of Rural 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
Executive Summary:
This notification from the Department of Posts announces the reversionary bonus rates for Rural Postal Life Insurance (RPLI) policies. These rates are based on the actuarial valuation of the Rural Post Office Life Insurance Fund as of March 31, 2015, and are effective from the date of receipt of the notification by the Circles. The bonus rates apply to claims due to death or maturity.
Key Points / Main Content:
Bonus Rates for RPLI Policies:
* Whole Life Assurance (WLA): Rs. 65 per thousand of sum assured.
* Endowment Assurance (EA): Rs. 50 per thousand of sum assured, including children policies.
* Anticipated Endowment Assurance (AEA): Rs. 47 per thousand of sum assured, including GY policies.
* Convertible Whole Life Policies: Whole Life Assurance bonus rate applies until conversion, after which the Endowment Assurance bonus rate applies.
Applicability and Effective Date:
* The bonus rates for the year 2014-2015 are applicable from the date of receipt of this Notification by the Circles.
* The rates apply to claim cases received but not settled until the date of receipt of this Notification.
Interim Bonus:
* Interim bonus at the rates mentioned will be payable for all claims arising due to maturity or death until future valuation is completed.
Rounding of Bonus Amounts:
* Bonus amounts involving a fraction of 50 paisa or more shall be rounded off to the next higher Rupee.
* Fractions below 50 paisa shall be ignored.
Impact Analysis:
Circles:
* Impact: The notification provides the updated bonus rates for Rural Postal Life Insurance (RPLI) policies, affecting the payout amounts for claims.
* Action Required: Implement the new bonus rates from the date of receipt of the notification and apply them to unsettled claim cases.
Policyholders (Rural):
* Impact: Policyholders will receive reversionary bonuses on their policies at the declared rates upon maturity or in the event of a claim due to death.
* Action Required: No action required, but policyholders should be aware of the new bonus rates for their RPLI policies.
Director General Posts:
* Impact: The Director General Posts is responsible for declaring the reversionary bonus rates based on actuarial valuation.
* Action Required: Ensure the bonus rates are implemented correctly and communicated effectively to all relevant stakeholders.
Key Entities Referenced
Rural Post Office Life Insurance Rules 2011: A set of rules governing the Rural Post Office Life Insurance.
Rural Post Office Life Insurance Fund RPOLIF: The fund associated with Rural Post Office Life Insurance, whose assets and liabilities are subject to Actuarial Valuation.
Director General Posts: The authority who declares the Reversionary Bonus on Rural Postal Life Insurance Policies.
Whole Life Assurance WLA: A type of insurance policy offered under Rural Postal Life Insurance.
Endowment Assurance EA: A type of insurance policy offered under Rural Postal Life Insurance, including policies for children.
Anticipated Endowment Assurance AEA: A type of insurance policy offered under Rural Postal Life Insurance, including GY policies.
Ministry of Communication and Information Technology: The Government of India ministry under which the Department of Posts operates.
Department of Posts: The department responsible for Directorate of Postal Life Insurance.
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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. 244] NEW DELHI, FRIDAY, JULY 22, 2016/ASADHA 31 , 1938
सचं ार एव ं सचू ना (cid:7079)ौ(cid:7378)ोिगक(cid:7409) मं(cid:7074)ालय
(डाक िवभाग)
(डाक जीवन बीमा िनदशे ालय)
अिधसचू ना
नई (cid:7408)द(cid:7016)ली, 19 जुलाई, 2016
फा. स.ं 5-1/2015-LI.— डाकघर जीवन बीमा िनयमावली (2011) के िनयम 03 म(cid:7286) (cid:7079)द(cid:7275) शि(cid:7334)य(cid:7298) का
(cid:7079)योग करते (cid:7263)ए तथा (cid:7061)ामीण डाकघर जीवन बीमा िनिध क(cid:7409) प(cid:7407)रसंपि(cid:7275)य(cid:7298) व दये ता(cid:7312) के बीमांकक मू(cid:7016)यन
(आरपीओएलआईएफ) के 31-03-2015 के आधार पर, महािनदशे क (डाक), (cid:7061)ामीण डाक जीवन बीमा पॉिलिसय(cid:7298)
के मृ(cid:7004)यु अथवा प(cid:7407)रप(cid:7332)ता के कारण उनके दावे बनन े पर िन(cid:7388)िलिखत दर(cid:7298) पर साधारण (cid:7079)(cid:7004)यावत(cid:6981)नीय बोनस क(cid:7409)
घोषणा करत े ह (cid:7289) :-
बीमा पॉिलसी का (cid:7079)कार बोनस क(cid:7409) दर
i. आजीवन बीमा (ड(cid:7011)(cid:7016)यएू लए) (cid:7271). 65/- (cid:7079)ित एक हजार (cid:7271)पए क(cid:7409) बीिमत रािश के िलए
ii. साविध बीमा (ईए) (cid:7271). 50/- (cid:7079)ित एक हजार (cid:7271)पए क(cid:7409) बीिमत रािश के िलए
(बाल पािलिसय(cid:7298) सिहत)
Iii. (cid:7079)(cid:7004)यािशत साविध बीमा (एईए) (cid:7271). 47/- (cid:7079)ित एक हजार (cid:7271)पए क(cid:7409) बीिमत रािश के िलए
(जीवाई पािलिसय(cid:7298) सिहत)
iv प(cid:7407)रवत(cid:6981)नीय आजीवन बीमा आजीवन बीमा बोनस क(cid:7409) दर(cid:7286) लागू ह(cid:7298)गी (cid:7412)कतु प(cid:7407)रवतन(cid:6981) के
प(cid:7391)ात साविध बीमा के बोनस क(cid:7409) दर(cid:7286) लागू ह(cid:7298)गी।
3700 GI/2016 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
2. वष(cid:6981) 2014-2015 के िलए बोनस क(cid:7409) दर(cid:7286) इस अिधसचू ना के सक(cid:6981)ल(cid:7298) म(cid:7286) (cid:7079)ा(cid:7385) होने क(cid:7409) तारीख से लागू ह(cid:7298)गी
तथा यह उन दावा मामल(cid:7298) के िलए भी लागू ह(cid:7298)गी जो इस अिधसूचना क(cid:7409) (cid:7079)ाि(cid:7385) क(cid:7409) तारीख तक (cid:7079)ा(cid:7385) हो चुके थ े पर
िनपटाए नह(cid:7277) गए थे।
3. उि(cid:7016)लिखत अंत(cid:7407)रम बोनस क(cid:7409) दर(cid:7286) भिव(cid:7020)य का मू(cid:7016)यन पूरा होने तक प(cid:7407)रप(cid:7332)ता अथवा मृ(cid:7004)यु के कारण (cid:7408)कए
जाने वाले सभी दाव(cid:7298) के िलए भी दये ह(cid:7298)गी।
4. बोनस म(cid:7286) सि(cid:7013)मलत 50 पैसे या उससे अिधक के अंश को अगले (cid:7271)पए म(cid:7286) पूणा(cid:7304)(cid:7408)कत (cid:7408)कया जाए तथा 50 पैसे स े
कम के अंश क(cid:7409) गणना न क(cid:7409) जाए।
िव(cid:7393)पवन पित, मु(cid:6990)य महा(cid:7079)ब(cid:7008)धक(डाजीबी)
(भारत सरकार के सह सिचव के समतु(cid:7016)य पदधारी)
MINISTRY OF COMMUNICATION AND INFORMATION TECHNOLOGY
(Department of Posts)
(DIRECTORATE OF POSTAL LIFE INSURANCE)
NOTIFICATION
New Delhi, the 19th July, 2016
F. No. 5-1/2015-LI.— In exercise of powers conferred vide Rule 3 of Rural 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 31.03.2015, 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.(cid:32) Whole Life Assurance (WLA) Rs. 65/- per thousand of sum assured
ii.(cid:32) Endowment Assurance (EA) Rs. 50/- per thousand of sum assured
(including children policy)
iii.(cid:32) Anticipated Endowment Assurance (AEA) Rs. 47/- per thousand of sum assured
(including GY policies)
iv.(cid:32) Convertible Whole Life Policies Whole Life Assurance Bonus rate would be
applicable but on conversion Endowment
Assurance Bonus rate will be applicable.
2. The rates of Bonus for the year 2014-2015 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)
(Equivalent to the Rank of Additional Secretary, Government of India)
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.