Post Office Surrender Application Value
Post Office Surrender Application Value from Download
This document is the official Application for Surrender of Postal / Rural Life Insurance Policy (PLI / RPLI) (1034ua92qr… p. 1). It is used by policyholders to permanently close their insurance contract before its maturity date in exchange for its accumulated cash value (surrender value) (1034ua92qr… p. 1). The form must be completed entirely in CAPITAL letters (1034ua92qr… p. 1).
📋 Core Parameters & Policy Identification
- Policy Profile: Requires your exact alphanumeric Policy Number, numerical Sum Assured, Date of Acceptance, and expected Date of Maturity (1034ua92qr… p. 1).
- Personal & Contact Records: Full name grid (First, Middle, Last) and a comprehensive communication address box layout (1034ua92qr… p. 1).
- Justification: A mandatory text line where the insurant must state the explicit reason or financial circumstances for choosing to surrender the policy prematurely (1034ua92qr… p. 1).
🔑 Key Tracking Fields Required
1. Loan Adjustment Details
If you have ever leveraged your insurance policy to secure a financial loan, you must explicitly declare the following parameters for outstanding settlement calculations:
- The original loan Sanction Date (1034ua92qr… p. 1).
- The total numeric Amount of Loan borrowed (1034ua92qr… p. 1).
- The exact Date of repayment of the loan (1034ua92qr… p. 1).
2. Recent Premium Payment History
To verify that your policy is active and calculate the final payout accurately, you must declare your payment tracking over the last six months:
- For Salary Deductions: The designation and full office address of your company’s Drawing and Disbursing Officer (DDO) (1034ua92qr… p. 1).
- For Direct Payments: A list naming the specific Post Office branches where your premiums were physically deposited during the previous six months (1034ua92qr… p. 1).
3. Payout Routing Choices
- Physical Processing Location: The application requires you to explicitly name your preferred target Sub Post Office and Head Post Office where you want the payout finalized (1034ua92qr… p. 1).
- Direct Bank Transfer (Cheque/ECS): Account grid fields to safely route your surrender value money, requiring your precise Bank/Post Office Account Number, Bank Name, and physical Branch Name (1034ua92qr… p. 1).
⚠️ Mandatory Enclosures & Supporting Documents
To process the surrender payout, you must physically attach the following four items to this application form:
- (a) Original Policy Document: The physical bond certificate issued during your purchase (1034ua92qr… p. 1).
- (b) Premium Receipt Book: Your ongoing ledger showing up-to-date monthly or quarterly premium deposits (1034ua92qr… p. 1).
- (c) Loan Repayment Receipt Book: Required specifically if you had a previous loan against the policy, verifying its closure status (1034ua92qr… p. 1).
- (d) DDO Salary Certificate: A formal statement signed by your Pay Disbursing Officer confirming successful premium recovery from your salary over the past six months (applicable for government or institutional employees) (1034ua92qr… p. 1).
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