PA Exam Materials - Examination point of view - 41
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ePayment service:
Introduction:
• ePayment is a comprehensive bill payment service.
• Provides a convenient and trusted electronic bill payment facility for customers.
• Allows collection of various bills (telephone, electricity, etc.) on behalf of organizations.
eBillPost / ePAYMENT:
• A 'Many to one' service.
• Bills paid by customers at Post Offices are electronically consolidated.
• Main Features:
o Collected amount is consolidated and paid centrally to the biller via cheque from a specified post office.
o Customers can pay bills by cash, cheque (in favor of Postmaster or biller).
o Post Offices collect bill payments over the counter for Service Providers (BSNL, Airtel, RTO, etc.).
o Post Office issues a receipt and accounts for the transaction.
o Collection data is updated on a central server, accessible to the biller via a web interface.
o MIS (Management Information System) of transactions available on the India Post Website.
o Billers provided a login to extract their specific MIS.
o Accounts are consolidated electronically, and payment made to the Biller at a convenient central point.
o Billers can upload bill details, enabling customers to pay even without receiving a physical bill.
o Billers can download collection details in their required formats.
o Two user levels in the ePayment setup: PO (Post Office) and administrators.
o ePayment offices accept bills from customers.
o Administrators at Directorate, Circle, Regional, and Divisional levels manage billers and register POs via the ePayment website.
o ePayment transactions are processed in CSI software through the Point of Sale module.
Acceptance of Bills:
• Only bills from billers registered with the Department for this service can be accepted.
• Different types of billers based on collection area and biller requirements:
o National level
o Circle level
o Regional level
o Divisional level
• National billers have nationwide collection; divisional billers are limited to the concerned division.
• ePayment biller data (whose transactions can be accepted) is available under "ePayment" in the CSI Point of Sale Module.
• Transaction data is transmitted immediately via HIGH Sync, updating the CSI server every ten minutes.
PLI (Postal Life Insurance)
• AEA (Anticipated Endowment Assurance):
o Surrender and Loan not eligible.
o Commutation and conversion not allowed.
o Medical examination is compulsory.
• Gram Priya:
o Surrender and Loan not eligible.
o Commutation and conversion not allowed.
• Children Policy:
o Surrender and Loan not eligible (for policies issued after 28.04.2011). Policies issued before this date can be surrendered after 5 years.
o Medical examination is not necessary.
• EA (Endowment Assurance):
o For insurant age above 50 with SA exceeding 5 lakhs, minimum term is 7 years.
o For insurant aged 54, minimum term is 6 years (if SA exceeds 5 lakhs).
o Medical examination is compulsory if the maturity age is 35.
• WLA (Whole Life Assurance):
o For insurant age above 50 with SA exceeding 5 lakhs, minimum term is 7 years.
o For insurant aged 54, minimum term is 6 years (if SA exceeds 5 lakhs).
• Joint Life Policies:
o Medical examination is compulsory.
II. RPLI (Rural Postal Life Insurance)
• 10 yrs RPLI plan:
o If premium payment is hindered by natural calamity, no interest or fine for a maximum of 12 months. Arrear premiums before the calamity are not included. Requires a certificate from the District Collector.
o Medical examination is compulsory.
• Children Policy:
o Surrender and Loan not eligible.
o The combined sum assured for Children policies under PLI and RPLI should not exceed ₹3 lakhs for a single insurant.
Important Points to Remember (Applicable to both PLI and RPLI unless specified):
• Maximum Sum Assured: The combined sum assured under PLI and RPLI for a single insurant should not exceed ₹50 lakhs.
• RPLI Focus: RPLI aims to provide insurance to the rural public, benefiting weaker sections and women workers in rural areas. It covers individuals permanently residing in rural areas.
• Non-Medical Scheme:
o Compulsory medical examination for PLI if age exceeds 45 and for RPLI if age exceeds 35 (except Children Policy).
o Non-medical policies are accepted based on the proponent being medically fit at the time of proposal, without chronic diseases or hospitalization in the preceding 2 years.
o Non-standard age proof policies are allowed only in RPLI, with a maximum sum assured of ₹1 lakh and age not exceeding 45 years, subject to a 5% extra premium load.
• Medical Scheme: Policies are accepted after the medical examiner's report. Initial premium is returned (minus medical fee) if the proposal is rejected.
• Medical Examiners: Appointed by divisional heads. RMPs (Allopathic) can conduct exams up to ₹5 lakhs. Examinations can be at the workplace or residence. Medical certificate validity is 60 days.
• Policy Acceptance: A fresh medical opinion may be ordered if a serious illness or death in the family occurs before policy acceptance.
• Policy Documents: Facsimile signatures allowed for RPLI policies up to ₹25,000. Duplicate PRB fee is ₹20.
• Commutation: Alteration in the contract without changing the maturity date (e.g., premium or sum assured). Reduction of premium or SA is free. Reduction of policy term or premium paying term is not allowed if maturity is within one year.
• Conversion: Alteration affecting the maturity date (e.g., ante-dating, post-dating, changing policy type like Whole Life to EA). First conversion is free, subsequent conversions cost ₹20. Good health certificate is needed if the premium term is extended. Increase in SA is allowed if age is below 45.
• Payment of Policies: Maturity, survival benefit, and death claims. Delayed payments due to administrative reasons attract an ex-gratia interest of 8% per annum.
• Settlement of Claims:
o CPMG can waive succession certificate for death claims without nomination up to ₹3 lakhs; above ₹3 lakhs requires DG approval.
• Surrender: Admissible after 36 months and 36 months of premium payment. Proportionate bonus is allowed after 5 years. Not eligible for AEA, Gram Priya, and Children Policy (unless issued before 28.04.2011 and after 5 years).
• Lapsed Policies (within 36 months): Up to 6 defaults (including the current month). Can be reinstated with a 12% p.a. default fee and a good health declaration.
• Lapsed Policies (more than 36 months): Up to 12 defaults (including the current month). Reinstatement with 12% p.a. default fee and good health declaration. More than 6/12 defaults require revival at CPC, HO with a medical examiner's good health declaration. Revival can be done any number of times.
• Lapsed Policies (beyond 36 months and death claim): If lapsed after 36 months and within 12 months of default, the policy remains alive if the paid-up value exceeds ₹10,000 (if no death claim or paid-up policy application is received).
• Revival (lapsed beyond 36 months): Allowed if the policy hasn't matured and 5 consecutive years haven't passed since the first unpaid premium, provided the life assured is insurable. Requires a certificate from an authorized medical attendant and evidence of no adverse changes in health, family history, or occupation. Revival can be paid in a lump sum or 12 installments.
• Loan: Minimum surrender value of ₹1000 is required for a loan. Loan amounts are in multiples of ₹100. Subsequent loans can be granted after full repayment of the previous loan. Repayment can be in installments (minimum ₹100). Interest is 10% p.a. compounded half-yearly. Reminders are sent at 90%, 95%, and 100% of surrender value. Forced surrender occurs 30 days after the 3rd reminder if no repayment. Forced surrender doesn't apply if the policy becomes a claim or the maturity date is within one year. Outstanding loan and interest are recovered from the policy value at the time of claim settlement. Interest accrues until the month the policy becomes a claim (minimum 6 months of interest charged).
• Suicide Cases: Payment is allowed after 24 months.
• Murder by Nominee/Legal Heir: The murderer will not receive the policy amount, which will be paid to other eligible legal heirs.
• Miscellaneous:
o Advertisement for lost PLI/RPLI policy documents is dispensed with.
o Duplicate Policy fee: ₹100. Approval up to ₹10 lakhs at CPC level, above ₹10 lakhs by Head of the Division.
o Duplicate Premium Receipt Book fee: ₹20.
o No witness required for maturity and other claims.
o Revised approval limits for high-value (HV) policies (exceeding ₹20 lakhs) for various transactions are effective from 01.04.2020.
o New promotional and incentive structure effective from 01.07.2020 for Development Officers and Field Officers.
o Security deposit and licensing details for Development Agents and Direct Agents are provided.
o Procurement and renewal incentive details for PLI and RPLI are mentioned.
• Citizen Charter - Appeal in Death Claim Cases:
o Claimant can appeal against rejection within 90 days (delay can be condoned).
o Appellate authority should decide within 45 days of receiving the appeal.
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