Amendment to Rule 16 (i) and Rule 61 of Post Office Life Insurance Rules, 2011.
Ministry of Communications
Department of Posts
(Directorate of Postal Life Insurance).
Chanakyapuri PO Complex, New Delhi-110021
All Head of Circles
Sub: Amendment to Rule 16 (i) and Rule 61 of Post Office Life Insurance Rules, 2011.
The provisions in connection with settlement of claims arising due to death of insurant by suicide i.e. Rule 16 (i) and Rule 61 of Post Office Life Insurance (POLI) Rules, 2011 has been amended. The amendment provides as follows:
(i) payment of 80% of premia paid or surrender value, whichever is higher, in case of suicide committed before expiry of 1 year from date of acceptance or date of revival, whichever is later, and
(ii) treating suicide cases at par with other death claim cases if suicide committed after 1 year from date of acceptance or date of revival, whichever is later.
2. Accordingly, Gazette Notification amending Rules, 16 (i) and Rule 61 of POLI Rules, 2011 is enclosed (Annexure-]). Illustrations are enclosed as Annexure-II.
3. This instruction may be widely circulated in the Circle for compliance.
This issues with the approval of CGM (PLI).