Administration Manual - B.E.S.T. Undertaking.

to receive their survival benefit claim or maturity claim of
the policies.
196
Likewise for Death claim also nominees of the
deceased employee policyholders are issued such
employer’s certificate of premia recovery in cases so
demanded by the LIC Office for any period for any policy to
enable to settle the death claims at the earliest. For this
payslips are to be confirmed at our end.
Recovery under code 192 (Jeevan Suraksha
Policies - with 100% Income Tax rebate). Same
procedure is followed as per Code 189.
Recovery under Code 193 - POSTAL LIFE INS.
There are about 2000 Postal Life Insurance Policies Premia and recovery
about Rs. 4.90 (compared) to Rs. 2.80 lakhs in June 1997) is effected and
remitted to General Post Office before end of the month. The policies have been
tremendously increased as compared to previous five years figures. The printout
of the PLI recovery is to be taken from our Account Dept's computer as the PLI
job is still not taken on payroll programme at EDP Backbay for which concerned
clerk has to visit Account Dept. to take out the printouts of PLI. The new additions
of policies and stop deduction of PLI have to be entered on PC in EDP dept. by
concerned Clerk. The bill amount has to be tallied alongwith various printouts GP24
& listing. The bill has to be prepared and handed over to DIA. The cheque is to be
collected with listing 8 copies (4 PLI + 4 our) is remitted to GPO on or before 30 th of
every month. The BEST earns commission. Those employees’ who want to
discontinue policy, whose policy mature or surrender policy approach SMA Section
for letter to obtain pass book from GPO. The commission on premium has to be
claimed in prescribed format and same is to be handed over to G.P.O. All commission
cheques’ received from LIC & Post has to be remitted to O.S.Cash. To attend
queries of employees of LIC, PLI etc. and give them replies.
Clerk No. 4 :
There are about 310 Co.op. Banks/Societies and
about 40 financial institutes (as compared to about 310
Co.op. Banks and 72 financial institutes before five years)
with increased number of branches at present stage for
both the recoveries i.e. recoveries under Code 179 and
176. This deduction of loan instalment against Code 179
is about Rs. 141029171 lakhs and against Code 176