Changes in billing method of Children Policies currently under Pay Recovery mode

• Existing PPLI/RPLI parent policy requirement for purchasing a Children Policy (Bal Jeevan Bima) has been removed.
• After deployment of a new system release, premium collection through Pay Recovery mode for Children Policies will be disabled.
• Policyholders currently paying through Pay Recovery are to be contacted and advised to switch to other payment modes such as Cash, CSI payment, IPPB, NACH, Direct Transfer, etc.
• Compliance is requested before a specified date.
• A list of affected policies is enclosed for necessary action.
• The communication is issued with the approval of the competent authority.