The Department of Posts introduces a digital version of the Postal Life Insurance policy bond. It is also called the ‘ePLI bond’. ePLI bond has been introduced in collaboration with Digilocker. It is anticipated to assist people by facilitating easy access to faster claim settlements.
As a Postal Life Insurance subscriber, you will now be able to download a digital copy of your policy bond from Digilocker. By logging in to the Digilocker, you will be able to download a digital copy of your policy bond on your mobile phone. The Rural Postal Life Insurance (RPLI) and the Postal Life Insurance (PLI) policy bonds can be accessed ‘electronically.
In case you are holding several Postal and Rural Postal Life Insurance policies such as Endowment Assurance, Whole Life Assurance, Anticipated Endowment Assurance, Child Policy, Convertible Whole Life Assurance, Gram Priya (in RPLI), and Yugal Suraksha (in PLI), you can download all of these policies immediately once the Department of Posts issues the policy bond.
As a PLI policyholder, you do not have to wait to get your PLI policy bond physical copy delivered. All new and old policyholders can access PLI bonds in digital form. You can also use an ePLI Bond as proof for making any modifications needed in your policy document, such as nomination, address change, etc., without having to carry the physical copy.
As a policyholder, during the maturity settlement, you can present your digital copy at the post office through the issued section found in the Digilocker mobile app’s. The postal department will consider your digital copy as a legitimate policy document.
The Department of Posts has developed unique mechanisms such as embedded digital signature, encrypted QR code, and secured server authentication to facilitate digital transformation amidst the Insurance Sector of the India Post. With digitalisation, the administrative overhead will come down; it will also help in the real-time verification of documents.
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For any clarifications/feedback on the topic, please contact the writer at bhavana.pn@cleartax.in
Bhavana is a Senior Content Writer handling the GST vertical. She is committed, professional, and has a flair for writing. When away from work, she enjoys watching movies and playing with her son. One thing she can’t resist is SHOPPING! Her favourite quote is: “Luck is what happens when preparation meets opportunity”.
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