Saturday, 30 November 2019
Postal Life Insurance (PLI) FAQs
Postal Life Insurance(PLI) FAQs
1. What is PLI?
A contract entered into by the Government to pay a given sum of money on the death of an individual to his nominee or himself, if he survives that period.
2. When did PLI start?
PLI as a scheme is available since 01.02.1884.
3. What is the difference between PLI and other Insurance?
PLI is only for Government and Semi-Government employees. Moreover PLI is the only Insurer that offers low premium and high bonus.
4. Is PLI guaranteed? If so, by whom?
PLI is guaranteed by Government of India.
5. Is there any limit to the number of policies one can take for children?
One can take policies for two children.
6. What is the necessity of sending the PLI Policy Bond to office address of the Insurant? Why can this not be sent to the residence of Policy holder?
PLI policy is issued to people who are employed under Government/Semi-Government sector etc. That is why the policy bond is sent to the Office address of the Insurant.
7. How can a policy be transferred from one PO to other?
The system of transfer of PLI policy is very simple. The policy holder can apply to the Chief Post Master General through the Post Office where the policy stands or the PO in which he desires to pay the premium. The PO will accept the application and send to the CPMG (PLI).
8. Which type of PLI policy among your scheme is more beneficial to opt for without hesitation?
All policies in PLI are beneficial. Every scheme has some unique features. In EA policy, you will get your savings along with bonus after the prescribed number of years.
9. Who are eligible for obtaining a PLI Policy?
The employees of following are eligible for PLI policy:
Central Government
Defence Services
Para Military forces
State Government
Local Bodies
Government-aided Educational Institutions
Reserve Bank of India
Public Sector Undertakings
Financial Institutions
Nationalized Banks
Autonomous Bodies
Extra Departmental Agents in Department of Posts
Employees Engaged/ Appointed an Contract basis by central/ State Government where the contract is extendable
Employees of all scheduled Commercial Banks
Employees of Credit Co-operative Societies and other Co-operative Societies registered with Government under the Co-operative Societies Act and partly or fully funded from the Central/ State Government/RBI/ SBI/ Nationalized Banks/ NABARD and other such institutions notified by Government
Employees of deemed Universities an educational institutes accredited by recognized bodies such a National Assessment and Accreditation council, All India Council of Technical Education,Medical council of india etc
10. Whether salaried professionals in Private Sector can join PLI?
Such categories are not eligible but they can have RPLI policies subject to fulfilling other conditions.
11. If one spouse is working in a Government Organization but the other is not, is there any scheme in PLI for both?
We have 'Yugal Suraksha' scheme under which both can jointly get a policy. After paying a little more premium, both can be covered under this assurance scheme.
12. Can one continue the policy if one quits the Government service?
One can continue by making payment at any one of the 1, 55,000 post offices throughout the country, even after quitting service..
13. What is the mode of premium deposit?
The Premium Receipt Book is issued to the Insurants for the deposit of Premium in any departmental PO, and there is a facility of recovery from pay for all employees belonging to the Central Government.
14. Is there any other mode of payment?
The premium can be paid through Cheque.
15. Is premium recovered through salary?
Yes, recovery of the premia through salary is possible, in offices where it is remitted directly to PLI. In case where it is not, it is possible by appointing a Group Leader, who collects the premia from the insurants and deposits in a post office along with PR book. However, premia are to be deposited in any post office as per convenience i.e. monthly/half yearly/ yearly where there is no recovery through salary.
16. Why is the premia for children's policy higher?
As both children's and parent's risk is covered.
17. Can one revive a lapsed policy?
If the premia are not paid for 6 months in case policy is in currency for 3 years (or) 12 months in case policy is more than 3 years old, then the policy becomes void. This needs revival to make it active. Revival shall not be allowed on more than two occasions during the entire term of the policy. Policy can be revived any time one year before maturity.
18. What happens if one forgets to pay one's premium in a month?
One can pay the premium in the subsequent month, by paying a minimum fine of Re. 1/- per hundred of sum assured.
19. Is loan facility available in PLI?
Loan can be taken from EA policy after completion of 3 years and in respect of Whole Life after completion of 4 years. Loan facility is available in AEA policies.
20. Is Home loan available?
No
21. What are the terms on which loan can be availed?
EA policies after 3 years from date of issue of policy.
WLA policies after 4 years.Interest 10% p.a. Calculated on six monthly basis
Loan entitlement is calculated on a prefixed proportion of these surrender value
Interest should be paid on(or) before 21st of due month (i.e. 6 monthly once)
22. What is surrender value of a policy?
Surrender value of a policy, means the amount that is payable to an assured, when he foregoes the contingent benefit of his policy and surrenders it for an immediate cash payment.
23. What will be the surrender value of the policy?
Surrender value depends on the surrender factor and type and term of policy.
24. Can one get the full amount paid with accrued bonus, if policy is surrendered prematurely?
Endowment Assurance policy can be surrendered after 36 months.
WLA policy can be surrendered after 48 months.
Children policy can be surrendered after 60 months.
No surrender for AEA policy.
Bonus will be taken into account after 5 years for surrender value calculation on the paid up value. But surrendering any policy prematurely is always a loss to the insurant. Hence, it is suggested not to go for surrender.
It is not a simple saving scheme but it aims to give risk coverage also.
It provides immediate Insurance coverage from the date of acceptance. Full policy amount with accrued bonus will be given even if death occurs on the very next day of acceptance of the proposals for all bonafide cases.
source : sapost
Terms And Conditions For The Usage Of INDIAPOST ATM CARD
The Terms and Conditions under which the DOP ATM Card has been issued are mentioned below for your guidance:
(a) Terms used here
• DOP refers to Department of Posts.
• Card means DOP ATM Card issued to customer.
• Cardholder means customer who has been issued DOP ATM Card.
• PIN mean a 4-digit number allotted to the card holder.
(b) Card
• The Card is the property of DOP and shall be returned unconditionally and immediately to DOP upon request by DOP.
• DOP reserves the right to cancel the Card and stop its operations unilaterally without assigning any reason.
• The Card is non- transferable.
• PIN/OTP: The Cardholder acknowledges, represents and warrants that the PIN/OTP provides access to the designated account(s) and that the Cardholder accepts the sole responsibility for use, confidentiality and protection of the PIN/OTP, as well as for all mandates and information changes entered in to the account using such PIN/OTP.
The Cardholder shall not record the PIN/OTP in any form so as to protect the PIN/OTP from falling into the hands of a third party. The Cardholder grants express authority to DOP for carrying out transactions and instructions authenticated by the PIN/OTP and shall not revoke the same. DOP has no obligation to verify the authenticity of the transaction instruction sent or purported to have been sent from the Cardholder other than by means of verification of the Cardholder's PIN/OTP.
The Card, therefore, should remain in Cardholder's possession and should not be handed over to anyone else. The Card is issued on the condition that DOP bears no liability for the unauthorized use of the Card.
This responsibility is fully that of the Cardholder. Further DOP will not be responsible for any loss either direct or indirect on account of ATM failure/malfunctioning.
(c) Loss of Card
• The Cardholder should immediately block the Card through the available channels (i.e., through call centre or any DOP Branch)
• The Cardholder is responsible for the security of the Card and shall take all steps towards ensuring the safekeeping thereof. Further, in the event, DOP determines that the aforementioned steps are not complied with, financial liability on the lost or stolen Card would rest with the Cardholder.
• Fresh Card will be issued in replacement of lost/damaged Card.
• DOP has the authority of the Cardholder to debit the designated account of the Cardholder for all withdrawals and payments effected by or purported to be effected by the Cardholder using the Card, as evidenced by the records, which will be conclusive and binding on the Cardholder. The Cardholder expressly authorizes DOP to debit the designated account with service charges (if any) notified by DOP from time to time. Please visit www.indiapost.gov.in for the updated service charges.
(d) Transactions:
• The transactions record generated by an ATM or POS terminal/e-Commerce will be binding on the Cardholder and it will be conclusive unless verified otherwise and corrected by DOP. The verified and corrected amount will be binding on the Cardholder.
• Closing of Accounts: The Cardholder wishing to close the designated account and surrender the Card will first have to give application in writing and surrender the Card along with the application.
• Validity of Card: The validity of the Card is printed on the face of the Card. The Card is valid through to the last date of the month of expiry.
• Renewal of Card: DOP will automatically renew the card, free of cost on it’s expiry.
• Help line : For more information and help, please call DOP's tollfree number i.e. 1800-425-2440. Toll free numbers are accessible from all landlines and mobile phones in the country.
• Transaction charges: The Cardholder's account is liable to be debited with the additional charges for transaction(s) made at ATMs owned by the banks other than DOP beyond the permissible limits. Please visit www.indiapost.gov.in for the updates.
(e) Fees and Charges:
• The annual fee for the Card will be debited to the primary account linked with the Card on application/renewal at DOP’s prevailing rate.
The fees is non-refundable
The cardholder shall maintain at all times such minimum balance in the designated account, as DOP may stipulate from time to time. DOP reserves the right at any time to charge the cardholder for the issue or reissue of a Card and/or any fee/charges for the transactions carried out by the cardholder on the Card.
(f) Additional Terms
• DOP reserves the right to introduce new facilities or remove existing facilities as and when warranted, without assigning any reasons thereof. DOP may, at its discretion, refuse any application for the Card without assigning any reason. Fee charged (if any) for the use of the Card is non-refundable under any circumstances. DOP has the right to withdraw the privilege attached to the Card and to call upon the Cardholder to surrender the Card through any representative of DOP, without assigning any reason.
• Use of the Card shall be terminated without notice, upon receiving intimation of the death, bankruptcy or insolvency of the Cardholder or on receipt of a letter from any one of the joint account holders changing the operative clause, receipt of an attachment order from a Competent court or revenue authority or from RBI due to violation of FEMA/Exchange Control Regulations, or for other valid reasons or when the whereabouts of the Cardholder become unknown to DOP due to any cause attributable to the Cardholder.
• The ATM service is for withdrawing cash against the balance that is already available in your account. It is therefore the Cardholder's obligation to maintain sufficient balance in the designated account to meet cash withdrawals and service charges. DOP at its absolute discretion may amend the Terms and Conditions governing ATM services
Source : SA Post
Sunday, 27 October 2019
UPSC NDA & NA Examination (II) Admit Card 2019
Union Public Service Commission (UPSC) has published Admit card for National Defence Academy and Naval Academy Examination (II), Check below for more details.
Exam Name: National Defence Academy and Naval Academy Examination (II)
Admit Card: Click Here
Exam Date: 17-11-2019
Notification: Click Here
The Union Public Service Commission will be conducting the National Defence Academy and Naval Academy Examination (II) 2019 at various Centres/Venues all over India on 17th November 2019 (Sunday). The Commission has uploaded the e-Admit Card for the convenience of the admitted candidates on the Commission's Web-site (https://www.upsc.gov.in). The admitted candidates are advised to download their e-Admit Cards for the Examination and take a printout thereof. The admitted candidates will have to produce the printout of their e-Admit Card at the allotted Venue for appearing at the Examination, along with Photo Identity Card mentioned in the e-Admit Card. In case, the photograph is not visible/blurred or not available on the e- Admit Card, candidates are advised to carry two (2) identical photographs (one photograph for each session) No paper Admit Card will be issued for the Examination by the Commission. In case of any discrepancy is noticed in the e-Admit Card, the same may be communicated to the Commission immediately at e-mail ID usnda-upsc@nic.in latest by 4th November 2019 to enable the Commission to take a decision on the matter.
Exam Name: National Defence Academy and Naval Academy Examination (II)
Admit Card: Click Here
Exam Date: 17-11-2019
Notification: Click Here
Sunday, 20 October 2019
Central Working Committee of All India Association of Inspectors & Assistant Superintendents Posts conducted at New Delhi on 16.10.2019 & 17.10.2019
Emergency CWC of our Association held at New Delhi on 16.10.2019 & 17.10.2019 and discussed Cadre Restructuring and other important issues. During conference it was decided to request the Dte. to implement the our proposal submitted on 19.09.2017 by taking consideration of our comments submitted on 11.02.2019 within time line. Further it was also decided to express our dissatisfaction in various ways if not implemented within stipulated period.
It was also decided to take up the issue with Dte. for deletion of question about verification of all TD passbooks in inspection questionnaire.
It was also decided to conduct our All India Conference by Oddissa Circle probably on 1st and 2nd February, 2020 . Exact date, place, Venue will be decided by Odisha Circle very shortly.
It was also decided to approach CAT, Hyderabad by CHQ for grant of Rs.5400 to all ASPs who were completed 4 years service in Rs.4800
Also discussed about conversion of ASP cadre into All India and many participants agreed for All India cadre for ASP provided to give preference to allot within the circle.
Also discussed about conversion of ASP cadre into All India and many participants agreed for All India cadre for ASP provided to give preference to allot within the circle.
GS along with President of CHQ along with Circle Secretaries of Maharastra,, Rajasthan, Karnataka, Telangana met the Member (P) and requested to implement the Cadre Restructuring immediately and also met several senior officers and discussed various issues.
It is learnt that one more DPC in the cadre of PS Group "B" will be conducted by December, 2019 and JTS list will also be released by end of this year.
Bunching file rejected by MOF.
Bunching file rejected by MOF.
Saturday, 12 October 2019
Sunday, 6 October 2019
Wednesday, 2 October 2019
Saturday, 21 September 2019
Wednesday, 18 September 2019
Monday, 9 September 2019
Sunday, 8 September 2019
Thursday, 5 September 2019
Wednesday, 28 August 2019
Friday, 23 August 2019
Tuesday, 20 August 2019
Sunday, 18 August 2019
Thursday, 15 August 2019
India Post : The Other Name of Trustworthiness
Article by : Shri. Bruhaspati Samal Postmaster,
Sahidnagar MDG Bhubaneswar - 751 007
Every month, the man comes to me with a complaint regarding non-payment of eMO sent by him from Sahidnagar MDG to a village in Gopalganaj, Bihar. After thorough checking in the system, I give him the usual reply on every occasion. With a smile, he just asks me, “Sir, already one month is over, will it be certainly paid?” I strongly reply, “Why not? Sure. Please wait”. After few days, he again arrives and gently asks, “Sir, the eMO has not yet been paid”. I obtain the details from him, register a complaint in the WebCCC with a guarantee from my side that this time it must be paid.
He leaves the office with a smile and again after few days he attends me and repeats the same as above. Immediately, I register a ticket in the Service desk with request for immediate solution. The reply of the service desk serves no purpose. I try to connect the telephone number of the concerned post office and receive the auto-generated voice “This telephone number is temporarily out order” Being worried, I tried to repeat raising of tickets, expediting reply in WebCCC, tell the man to contact his village Post Office and somehow or other, the eMO is paid after undue delay.
This is happening almost every month. I have witnessed that once the eMO sent by him for Rs.2000/- when her wife was in dire need of money for medical treatment was paid after 3 months. Still the man is coming to the Post Office regularly and remitting Rs.1000/- or Rs.2000/- every month to his wife in addition to sending of letters and parcels to his kith and kin.
Today (14.08.2019), he once again met me with two complaints, one for eMO sent since 05.08.2019 and another for a Speed Post article sent since 06.08.2019. When I go for checking in SAP, I find the connectivity to be slow. Before the system is ready to login, out of curiosity, I just asked him, “Every month you are witnessing delayed payment. Even during the medical treatment of your wife, she did not get the money in time. Nevertheless, you are remitting every month through Post Office. What does prompt you to rely on the Department of Post?
What the gentleman replied prompted me to write this article. It was not his reply. As if he is giving a beautiful speech before me on this largest postal network which he has experienced for last 40 years.
Replying me in half-Odia and half Hindi, he told “Sir, My name is Narsingh Sharma and now I am 60. Forty years back, I left my village Amwanakchhed in Bihar at the age of 20 and came to Bhubaneswar in search of work. By birth, I am a carpenter and started carpentry work here @ Rs.5/- per day residing here in Shantipalli Basti. Since then, when there was no other means of sending money, letter and parcels to my family at my native village, I have been relying on your post office. At times, I have experienced, delay in delivery and payment. But my money, letters and parcels have reached safely. I have every confidence that the Post office will never breach my trust and till date I trust the Department of Post the most”.
I asked, ‘If you have a Post Office Savings Pass Book in your name and in the name of your family members?”
He said, “No. But I have also a Bank Account and ATM card. The Bankbabu has told me to handover the ATM card to my wife and give her the Pass Word. When I will deposit money here in Bhubaneswar, she can be able to withdraw money through the nearest ATM. But I have not handed over her the ATM card so far to my wife.
I asked, “Why? This is a very easy process to get the money without any delay. You should prefer it.”
Rejecting my proposal straightway, he told, “My wife is illiterate and not able to operate ATM card. Besides, there is no ATM in my village. But the Dakia goes to my wife personally and hand over the money. My wife feels as if I give him. The letters I send to my wife not only carry my messages only but my love and emotions for her Sir. Will the Bank do it Sir? Is there any human touch in other mode of service except Dak?”
I told him, “The world is changing and so also India Post. We are also giving ATM cards which are linked with all banks. Will you prefer to open a Post Office Savings Bank Account in my office and take the ATM Card through which your wife can withdraw money from the local Postal ATM there? He suddenly say, “Yes”. I asked when you are not interested for Bank ATM, why do you prefer Postal ATM. Without any second thought, he simply replied, I have every faith on my local Dakbabu and Dak Khana. They are serving my family for last 40 years since I am in Bhubaneswar. Their trustworthiness is enough for me”.
In spite of my trial for about 30 minutes, I failed to login. From his side, he said, “Don’t worry Sir. Tomorrow is holiday for Rakhi Poornima and Independence Day. I will come on Friday again to know the status.”
I just looked at his face and find no sign of discontent. Giving a beautiful smile, he left my chamber. I became thoughtful for a while. When I’m witnessing the arguments and counter arguments of many people for silly matters during the business hours regularly, customers of this category remind us the importance of my Department. Even if people are suffering for the time being due to the transitional period of India Post when going manual to digital, people still have confidence on its reliability, trustworthiness and service to the entire mankind with a human touch which makes my Department different from all others.
Proud to be an employee of this largest postal network of the world.
source : SA Post
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