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Date: 05-Dec-2024 Category: Extra Ordinary State: Union Government Country: India

Notification declaring bonus on PLI Policies for FY 2025 26

Issued by Ministry of Communications · Department of Posts

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Executive Summary & Key Takeaways

What it means

  • This gazette notification from the Ministry of Communications, Department of Posts, announces the revised bonus rates for Postal Life Insurance (PLI) policies based on the actuarial valuation of the Post Office Life Insurance Fund (POLIF) as of March 31, 2024.
  • The notification declares simple reversionary bonus rates for various types of PLI policies, applicable to claims arising from death or maturity.
  • The revised rates are effective from April 1, 2025, for the financial year 2025-26.
  • Interim bonus at the same rates will be applicable until the next valuation is completed.

Key Changes

  • The bonus rate for Whole Life Assurance (WLA) policies is set at Rs. 76 per thousand of the sum assured.
  • The bonus rate for Endowment Assurance (EA) policies, including Joint Life and Children Policies, is set at Rs. 52 per thousand of the sum assured.
  • The bonus rate for Anticipated Endowment Assurance (AEA) policies is set at Rs. 48 per thousand of the sum assured.
  • For Convertible Whole Life Assurance (CWLA) policies, the Whole Life bonus rate applies, but upon conversion, the Endowment Assurance bonus rate will be applicable.
  • A terminal bonus of Rs. 20 per Rs. 10,000 of the sum assured, up to a maximum of Rs. 1000, is applicable for Whole Life and Endowment Assurance policies with a term of 20 years or more.
  • These new bonus rates are applicable from 01.04.2025.
  • Bonus amounts involving 50 paisa or more will be rounded up to the next higher rupee, while amounts below 50 paisa will be ignored.

Impact Analysis

Policyholders

  • Policyholders can expect increased payouts on their claims from April 1, 2025.

Department of Posts

  • The department needs to ensure that the interim bonus is paid correctly until the next valuation is completed.

Government

  • The government will need to ensure that the PLI scheme continues to be a viable and attractive option for its citizens.

Action Items

  • Policyholders should review their PLI policies to understand the impact of the new bonus rates on their benefits.

Key Entities Referenced

Ministry of Communications: The ministry responsible for the Department of Posts and the Postal Life Insurance scheme. Department of Posts: The department responsible for managing and administering the Postal Life Insurance scheme. Post Office Life Insurance Fund (POLIF): The fund that holds the assets and liabilities related to Postal Life Insurance policies. Post Office Life Insurance Rules (2011): The rules under which the powers to declare bonus rates are conferred.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-06122024-259207 xxxGIDHxxx CG-DL-E-06122024-259207 xxxGIDExxx असाधारण EXTRAORDINARY भाग I—खण्ड 1 PART I—Section 1 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 325] नई ददल्ली, बहृ स्ट्प जतिार, ददसम्ब र 5, 2024/अग्रहायण 14, 1946 No. 325] NEW DELHI, THURSDAY, DECEMBER 5, 2024/AGRAHAYANA 14, 1946 सचं ार मत्रं ालय (डाक जिभाग) (डाक िीिन बीमा जनदेिालय) अजधसचू ना नई ददल्ली, 26 निम् बर, 2024 फा.स.ं पीएलआई-04/1/2024-पीएलआई-डीओपी – डाकघर िीिन बीमा जनयमािली (2011) के जनयम 3 के तहत प्रदत् त िजियों का प्रयोग करते हुए तथा 31.03.2024 की जस्ट्थजत के अनुसार, डाकघर िीिन बीमा जनजध (पीओएलआईएफ) की पररसंपजियों एिं दने दाररयों के बीमांदकक मूल्यांकन के आधार पर, मत्ृ यु अथिा पररपक्वता के कारण उत्पन्न हुए डाक िीिन बीमा के दािों के मामले में महाजनदेिक डाक सेिाएं, जनम्नजलजखत दर पर साधारण प्रत्यािर्तित बोनस घोजित करते ह ैं:- िीिन बीमा का प्रकार बोनस की दर i. आिीिन बीमा (डब्लल्यएू लए) प्रजत हिार रुपए की बीजमत राजि पर 76/- रु. ii. बंदोबस्ट्ती बीमा (ईए) प्रजत हिार रुपए की बीजमत राजि पर 52/- रु. (संयुि िीिन एिं बाल पॉजलजसयों सजहत) iii. प्रत्याजित बंदोबस्ट्ती बीमा (एईए) प्रजत हिार रुपए की बीजमत राजि पर 48/- रु. iv. पररितिनीय आिीिन बीमा आिीिन बीमा की बोनस दर लागू होगी, परंतु पररिर्तित करने की जस्ट्थजत म ेंबंदोबस्ट्ती बीमा की बोनस दर लागू होगी। 7903 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC.1] (सीडब्लल्यएू लए) v. टर्मिनल बोनस 20 ििि या उससे अजधक की अिजध िाली आिीिन बीमा तथा बंदोबस्ट्ती बीमा पॉजलजसयों पर प्रजत 10,000 रु. की बीजमत राजि पर 20 रु. की दर से, 1000 रु. की अजधकतम सीमा के अधीन 2. जिि ििि 2025-26 के जलए बोनस की उपरोि दरें, 01.04.2025 से लागू होंगी। 3. भािी मूल्यांकन पूरा होन े तक, पररपक्वता अथिा मृत्य ु के कारण उत्पन्न हुए सभी दािों के मामलों म ें अनंजतम बोनस उपरोि दरों पर ही देय होगा। 4. बोनस राजि में िाजमल 50 पसै े अथिा उससे अजधक के भाग को अगले उच्चतर रुपए में पूणाांदकत दकया िाएगा और 50 पैस ेसे कम के भाग को निरअंदाि कर ददया िाएगा। कल्पना ससंह, मुख्य महाप्रबंधक (पीएलआई) MINISTRY OF COMMUNICATIONS (Department of Posts) (DIRECTORATE OF POSTAL LIFE INSURANCE) NOTIFICATION New Delhi, the 26th November, 2024 F. No. PLI-04/1/2024-PLI-DOP.—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 31.03.2024, the Director General Postal Services 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. 76/- per thousand of sum assured ii. Endowment Assurance (EA) Rs. 52/- per thousand of sum assured (including Joint Life & Children Policies) iii. Anticipated Endowment Assurance (AEA) Rs. 48/- per thousand of sum assured iv. Convertible Whole Life Assurance (CWLA) 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 Rs. 1000 for Whole Life Assurance and Endowment Assurance policies with term of 20 years or more. 2. The rates of Bonus mentioned above for the Financial Year 2025-26 will be applicable from 01.04.2025. 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. KALPANA SINGH, Chief General Manager (PLI) 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.

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