Reversionary Bonus on Rural Postal Life Insurance Policies declared

By | July 23, 2016
(Last Updated On: July 23, 2016)

THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]

MINISTRY OF COMMUNICATION AND INFORMATION TECHNOLOGY

(Department of Posts)

(DIRECTORATE OF POSTAL LIFE INSURANCE)

NOTIFICATION

New Delhi, the 19th July, 2016

F. No. 5-1/2015-LI.— In exercise of powers conferred vide Rule 3 of Rural Post Office Life Insurance Rules (2011) and on the basis of Actuarial Valuation of the assets and liabilities of Rural Post Office Life Insurance Fund (RPOLIF) as on 31.03.2015, the Director General (Posts) is pleased to declare a simple Reversionary Bonus on the Rural Postal Life Insurance Policies on their becoming claims, due to death or maturity at the following rates :

insurance

2. The rates of Bonus for the year 2014-2015 will be applicable from the date of receipt of this Notification by the Circles and this will also be applicable to claim cases received but not settled till the date of receipt of this Notification.

3. Interim Bonus at the rates mentioned above will also be payable for all claims arising due to maturity or death until future valuation is completed.

4. The amount of Bonus involving a fraction of 50 paisa or more shall be rounded off to the next higher Rupee and fraction below 50 paisa shall be ignored.

VISHVAPAVAN PATI, Chief General Manager (PLI)

(Equivalent to the Rank of Additional Secretary, Government of India)

Direct Taxes Ready Reckoner Service Tax Ready Reckoner Company Law Ready Reckoner tax deduction at source
New Books Released on Tax , GST and law

Leave a Reply