![]() Based on these information, you can draw a chart of due dates for premium payment in your diary. yearly, half-yearly, quarterly, monthly etc. Please note from the Policy Bond, date of commencement of the policy, due date and mode of payment of premium. However, grace period is allowed upto the last working day of the month. The premium must be paid in advance on the first day of the each month. Delay in payment of premium invites late fee. However, generally, the life risk is not covered during lapsation period. * There are concessions on this under certain conditions. Failure to pay premium in time results in lapsation of policy which means the life cover will not be available to you. The premium payment is the most important and most frequent event in the life time of a Policy and you must not forget to pay premium in time. ![]() While paying premium through cheque, Policy number must be quoted on the back of the cheque. So we would advise you to note down this number in your diary. This is a unique number that identifies the policy. In any correspondence related to servicing of the policy you have to quote this number. There is a 13 digit number called Policy number. The first thing you should do after receiving the bond is to keep the same in a safe place and please do not forget to inform your near and dear ones about where this bond has been kept. This is a document which will be called for in connection with various servicing events including the settlement of claims. The policy bond is the most important document during the life of a policy. While the Policy bond given to you covers the contractual issues, you need a guide, written in simple language, that highlights some important facts about your Policy. A life insurance contract has several features which need explanation. During this long period you will have number of interactions with PLI. A Postal life insurance policy enters you into a long term relationship with the Department of Posts. This guide has been designed for your comfort. last bonus rate is ₹ 52/- per ₹ 1000 sum assured per year Attract the rate of bonus applicable for Endowment policy (Santosh) i.e.However, child should be healthy and risk shall start from day of acceptance of proposal ![]()
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