Postal Life Insurance of Postal Department
Non-payment of interest & compensation for late payment of matured value of the policy
- 12-15-2008
- 229
I, Ashok Kumar Nayak, the undersigned, request you to kindly help him for getting payment of interest and compensation against the abnormal delay in Maturity payment of the above PLI No. : BH/774-U. The above policy had become matured on 31.12.2005. But the matured value was paid by the Postal Department on 02.06.2007. So, he should get interest for the late payment @ 2% per month on prorata basis for this abnormal delay in payment for the period from 31st December till 02.06.2007 and compensation @ 3% per month of the Matured value against physical and mental harassment caused by the Postal Department.
History: - The above policy had been purchased for an Amount of Rs. 60, 000/- on 29.11.1988 from Bachra Post Office, Dist Hazaribagh (Postal District being Palamau, Daltonganj) Bihar (presently Jharkhand). Since then, the monthly premiums were being paid regularly at Bachra Post Office till July 1992 and also from March 1993 till February 1996. From August, 1992 the premiums were being paid at Dakra colliery post office till February 1993. Balance premiums had been paid at Junnordeo Post Office, Dist Chhindwara, M.P. including the last installment of premium. The Maturity payment was to be released on 31st December according to the condition of the Policy No: BH/774-U. He had written several letters to the different offices of the Postal Department, had telephonic talks with many of your department, also personally visited several Post Offices, and served notices from advocates. But nobody bothered to arrange early payment. As a result of this, he had suffered a heavy financial loss. Faced many physical and mental tortures due to many of your Department.
Prayer: -You are requested to kindly take up this matter with the appropriate authority and arrange to help the undersigned to get the legitimate demand.
As on today total amount comes to Rs. 2, 30, 000 only.
Company: Postal Life Insurance of Postal Department
Country: India