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    Application For Loan On Security of Postal/ Rural Life Insurance Policy

    Uploaded by

    Karan Kumar
    The document is an application for a loan using a postal/rural life insurance policy as security. It requests basic information about the applicant such as name, address, occupation and policy details including the policy number, sum assured, dates, and amount of loan required. It also asks for previous loan details if applicable and preferred payment details. Required documents including the policy document, loan repayment receipt book, premium receipt book, and pay certificate are listed.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Application For Loan On Security of Postal/ Rural Life Insurance Policy

    Uploaded by

    Karan Kumar
    79 views2 pages
    The document is an application for a loan using a postal/rural life insurance policy as security. It requests basic information about the applicant such as name, address, occupation and policy details including the policy number, sum assured, dates, and amount of loan required. It also asks for previous loan details if applicable and preferred payment details. Required documents including the policy document, loan repayment receipt book, premium receipt book, and pay certificate are listed.

    Original Description:

    indian loan appln

    Original Title

    Loan Applicationform

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    The document is an application for a loan using a postal/rural life insurance policy as security. It requests basic information about the applicant such as name, address, occupation and policy details including the policy number, sum assured, dates, and amount of loan required. It also asks for previous loan details if applicable and preferred payment details. Required documents including the policy document, loan repayment receipt book, premium receipt book, and pay certificate are listed.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    79 views2 pages

    Application For Loan On Security of Postal/ Rural Life Insurance Policy

    Uploaded by

    Karan Kumar
    The document is an application for a loan using a postal/rural life insurance policy as security. It requests basic information about the applicant such as name, address, occupation and policy details including the policy number, sum assured, dates, and amount of loan required. It also asks for previous loan details if applicable and preferred payment details. Required documents including the policy document, loan repayment receipt book, premium receipt book, and pay certificate are listed.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    APPLICATION FOR LOAN ON SECURITY OF POSTAL/ RURAL LIFE INSURANCE POLICY

    (Please fill in the columns in CAPITAL letters)

    1. Name of Insurant (Mr./ Mrs./ Ms.)


    First Name Middle Name Last Name

    2. Occupation

    3. Communication Address

    Village Taluka
    City District
    State Country PIN

    4. Particulars of Policy against which the loan is desired

    i. Policy No.

    ii. Sum Assured iii. Date of Acceptance iv. Date of Maturity


    ` / - / / / /
    5. The purpose for which loan is applied for .....................……………………………………………………………………….
    …………………………………………………………………….....................……………………………………………………....

    6. Amount of Loan Required ` / -


    7. Details of previous loan taken, if any

    i. Policy No.:

    ii. Sanction No.:

    iii. Sanction Date: / /


    iv. Amount of Previous Loan: ` / -
    v. Date of repayment of previous loan: / /
    8. Name of the Post Office (if it is Sub Office, write the name of Head Office as well) at which the payment is desired.
    i. Name of Sub Post Office

    ii. Name of Head Post Office

    9. For payment of loan through cheque, please provide following information about your Post Office/Bank account:-

    i. Account No.

    ii. Name of Post Office/ Bank

    iii. Branch Name:

    10. Name of the Post Office and the dates of premium payment for the last 12 months (in case of cash policy).

    Documents attached:

    a) Policy document duly assigned in favour of the President of India. b) Loan Repayment Receipt Book relating to previous loan.
    c) Premium Receipt Book. d) Certificate of Pay Disbursing Officer regarding recovery of premia from pay for the last six months.

    Date:________________
    Signature of Insurant
    Name:
    Phone no.:
    Office:
    Residence:
    Mobile no. :
    Form of assignment prescribed under Rule 31 of Estate Duty Rules, 1953, in respect of PLI Policies
    assigned to the President for the purpose of paying Estate Duty is given below:

    “I, A, B of ________________________________________________do hereby assign the benefit of all


    moneys to become payable under the within Postal Life Insurance Policy/Postal Endowment Assurance Policy
    No.______________ assuring the sum of `______________ to the President of India for the purpose of paying Estate
    Duty in accordance with the provision contained in clause (f) of sub section (1) of Section 33 of the Estate Duty Act,
    1953, which after my death my estate may become liable to pay to the Government of India.

    Provided, however, that in the event of my surviving the date on which the said policy if so expressed would
    mature or the policy is surrendered by me, the benefit of the policy and the right to receive moneys thereunder shall
    revert to me as if this assignment had not been made. It is further agreed that if the policy matures before my death or is
    surrendered by me, then on my request the Insurer will upon the delivery of the policy pay all or so mach or the sum
    due to me as may be specified in such request, to the Government of India under the head “K-Deposits and Advances-
    deposits bearing interest-other Deposits –Deposits towards payment of Estate Duty” for being treated as deposits of
    moneys for the purpose of paying estate duty as provided in clause (g) of Section 33 (1) of Estate Duty Act, 1953 and a
    receipt of the Government of India shall be an effectual discharge to the Insurer for the moneys so paid to them.

    I undertake not to deal with the policy in any way so long as the above assignment is operative, except
    nominating any person to receive the balance of the insurance proceeds, after satisfying the Estate Duty demand.

    I, hereby certify that no prior assignment of the within policy or any incumbrance against it exists.

    Dated this ________day of________ (Signature of the Life Assured)

    Station___________________

    Witness____________________

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