Documents for Changes/Correction in PLI/RPLI Insurance Policy Changes India Post
Life is dynamic, and so are our circumstances. Whether it's a change of residence, nominee, or payment preferences, life insurance policies should adapt to your evolving needs. Here's a breakdown of the various scenarios and the documentation required for a seamless transition:
Change of Address
When relocating, updating your address is crucial. To facilitate this, you'll need:
- One new Address Proof on your name
Change of Assignee
In case of transferring policy rights, ensure a smooth transition with:
- Notarized assignment form
Change of Nominee
For updating the nominated individual, submit:
- Form for Change of Nomination
(If the Nominee is a minor, include appointee details and the nominee's signature.)
Change of Payment Frequency
Adapt your payment schedule as needed:
- Billing Frequency Change Form
Change of Payment Mode
Alter the method of payment with:
- Billing Method Change Request Form
Maturity Claim Submission
When it's time to claim maturity, provide:
- Maturity Claim Application Form
- Policy Bond/Indemnity Bond
- Premium Receipt Book/DDO Certificate
Loan against a Policy
If considering a loan, submit:
- Filled Loan Application Form
- Assignment Form
- Policy Bond
- Premium Receipt Book (in case of cash policy)
- Disbursing officer's certificate for last six months (for pay recovery policy)
- Loan repayment receipt book (for subsequent loans)
- Loan Bond
Revival of a Policy
To revive a lapsed policy, furnish:
- Revival Application Form
- Employer Certificate (for Pay Recovery)
- Medical certificate for Revival
- Premium Receipt Book
Surrender a Policy
If opting to surrender the policy, provide:
- Surrender Request Form
- Policy Bond
- Premium Receipt Book
- D.O.C for last one year (for Pay Recovery)
- Premium receipt book (for cash policy)
- Duplicate Policy Bond (if document lost)
- Indemnity Bond (if duplicate bond not available)
- Cancelled Cheque (only for EFT disbursement)
Life insurance should adapt to your life's transitions. With these documentation guidelines, ensure a hassle-free process, securing your financial well-being at every stage of life.
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