P L I Directorate D.O.29-9/2008-LI , Dated the 24th February, 2011.
This is regarding norms for various works in PLI/RPLI. I am directed to intimate that the norms for various works in PLI/RPLI have been revised keeping in view the industry standards and various regulations of statutory authorities.
These norms are as below:
Sl. No. | Particulars | Number of days |
1. | Issue of Acceptance letter | 15 |
2. | Issue of policy Bonds | 15 |
3. | Inter Circle transfer of policies | 10 |
4. | Settlement of claims on maturity | 30 |
5. | Settlement of Claims on Death with Nomination | 30 |
6. | Settlement of death claim involving investigation | 90 |
7. | Payment of paid up value | 30 |
8. | Loan for policies | 10 |
9. | Change of address | 10 |
10. | Change of Nomination | 10 |
11. | Assignment | 10 |
12. | Issue of duplicate policy document | 10 |
13. | Revival of policy | 15 |
14. | Conversion of policy | 15 |
It is requested that these norms be given wide publicity amongst the staff as well as customers so that services are provided in a time bound manner.
With regards.
Yours sincerely,
(A.K. Poddar)
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