Home India Ministry of Communications Notification declaring bonus on RPLI Policies for FY 2025 26...
Date: 05-Dec-2024 Category: Extra Ordinary State: Union Government Country: India

Notification declaring bonus on RPLI Policies for FY 2025 26

Issued by Ministry of Communications · Department of Posts

Research with AI Agent Chat with Document Generate Summary Translate Helpful Share Add to Project Create Task

Executive Summary & Key Takeaways

What it means

  • This gazette notification from the Ministry of Communications, Department of Posts, announces the reversionary bonus rates for Rural Postal Life Insurance (RPLI) policies based on the actuarial valuation of the Rural Post Office Life Insurance Fund (RPOLIF) as of March 31, 2024.
  • The notification specifies the bonus rates applicable to different types of RPLI policies upon maturity or death claims.

Key Changes

  • Reversionary bonus rates are declared for the following types of Rural Postal Life Insurance policies:
  • Whole Life Assurance (WLA): ₹60 per ₹1000 of sum assured.
  • Endowment Assurance (EA), including children policies: ₹48 per ₹1000 of sum assured.
  • Anticipated Endowment Assurance (AEA), including Gram Priya policies: ₹45 per ₹1000 of sum assured.
  • Convertible Whole Life Assurance (CWLA): The Whole Life Assurance bonus rate applies initially, but the Endowment Assurance bonus rate applies upon conversion.
  • Terminal Bonus: ₹20 per ₹10,000 of sum assured, up to a maximum of ₹1000, for Whole Life Assurance and Endowment Assurance policies with a term of 20 years or more.
  • These bonus rates are applicable for the financial year 2025-26, effective from April 1, 2025.
  • Interim bonus will be paid at the same rates for all claims arising due to maturity or death until the next valuation is completed.
  • Bonus amounts with fractions of 50 paisa or more will be rounded up to the next higher rupee, and fractions below 50 paisa will be ignored.

Impact Analysis

Policyholders

  • Policyholders can expect the new bonus rates to be applied to claims from April 1, 2025.

Department of Posts

  • The department is responsible for communicating these changes to policyholders and stakeholders.

Actuarial Valuation

  • Future valuations will determine if the bonus rates need to be adjusted.

Action Items

  • The Department of Posts should update its website and other communication channels to inform policyholders about the changes.

Key Entities Referenced

Ministry of Communications: The government ministry responsible for the Department of Posts. Department of Posts: The government department responsible for postal services and postal life insurance. Directorate of Postal Life Insurance: The directorate within the Department of Posts responsible for administering postal life insurance. Rural Post Office Life Insurance Fund (RPOLIF): The fund that holds the assets and liabilities of the Rural Postal Life Insurance scheme. Post Office Life Insurance Rules (2011): The set of rules under which the postal life insurance scheme operates. Rule 3 is specifically mentioned as the source of power for this notification.
Official Source Record View Original Source →
See Full Document Text
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-06122024-259212 xxxGIDHxxx CG-DL-E-06122024-259212 xxxGIDExxx असाधारण EXTRAORDINARY भाग I—खण्ड 1 PART I—Section 1 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 326] नई ददल्ली, बहृ स्ट्प जतिार, ददसम्ब र 5, 2024/अग्रहायण 14, 1946 No. 326] 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/ 2/ 2024-पीएलआई-डीओपी.—डाकघर िीिन बीमा जनयमािली (2011) के जनयम 3 के तहत प्रदत् त िजियों का प्रयोग करत े हुए तथा 31.03.की जस्ट्थजत के अनुसार 2024, ग्रामीण डाकघर िीिन बीमा जनजध की पररसंपजियों एिं देनदाररयों )आरपीओएलआईएफ(के बीमांदकक मूल्यांकन के आधार परमृत्य ु अथिा पररपक्वता के , जनम्नजलजखत दर पर साधारण ,कारण उत्पन्न हुए ग्रामीण डाक िीिन बीमा के दािों के मामले में महाजनदेिक डाक सेिाएं प्रत्यािर्तित बोनस घोजितकरत े ह ैं -: िीिन बीमा का प्रकार बोनस की दर i) डब्लल्यएू लए( आिीिन बीमा . प्रजत हिार रुपए की बीजमत राजि पर 60/- रु. ii .बंदोबस्ट्ती बीमा )ईए) प्रजत हिार रुपए की बीजमत राजि पर 48/- रु. ) बाल पॉजलसी सजहत( iii. प्रत्याजित बंदोबस्ट्ती बीमा )एईए( (ग्राम जप्रय प्रजत हिार रुपए की बीजमत राजि पर 45/- रु. ) पॉजलसी सजहत ivपररित ि .नीय आिीिन बीमा )सीडब्लल्यूएलए( आिीिन बीमा की बोनस दर लागू होगी, परंतु पररिर्तित करने की 7904 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC.1] जस्ट्थजत म ें बंदोबस्ट्ती बीमा की बोनस दर लागू होगी। 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 स,े 1000 रु. की अजधकतम सीमा के अधीन 2. जिि ििि 2025- ,के जलए बोनस की उपरोि दरें 2601.04.2025 से लागू होंगी। 3. भािी मूल्यांकन पूरा होने तक, पररपक्वता अथिा मृत्य ु के कारण उत्पन्न हुए सभी दािों के मामलों म ें अनंजतम बोनस उपरोि दरों पर ही दये होगा। 4. बोनस राजि म ें िाजमल 50 पैस े अथिा उससे अजधक के भाग को अगले उच्चतर रुपए म ें पूणादां कत दकया िाएगा और 50 पैस े स े 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-04/2/2024-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 Rural Post Office Life Insurance Fund (RPOLIF) as on 31.03.2024, the Director General Postal Services 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. 60/- per thousand of sum assured ii. Endowment Assurance (EA) Rs. 48/- per thousand of sum assured (including Children policy) iii. Anticipated Endowment Assurance (AEA) Rs. 45/- per thousand of sum assured (including Gram Priya policies) 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.

Continue your research