It is to inform that it was noticed during the data cleansing that there were intermittent gaps in the premium (KLC) ledgers of existing policies and circles have updated the same with 'N' (not paid ) as they could not find the records or contact insurants for updating the same as 'Y'. However, McCamish software has no provisions for keeping intermittent gaps in the premium ledger of the policies. Hence it was decided to pushback those intermittent gaps at the time of migration of legacy data to new software. As a result of push back of premiums, there may be cases that in the premium receipt book payment might be updated, but new system would show the premium for months as unpaid due.
In view of the above, it has been decided that infosys would provide a screen on the counter showing the details of actual gap months for which pushback was applied so that counter PA easily ascertain the months of actual gaps. The counter PA will take the photocopy of premium recipts/premium recipt book and send the same to CPC. At CPC the same would be examined with details of gaps and other relevant records and after verification, a sanction of UCP will be issued. against the UAs of POLIF or RPOLIF, as the case may be with approval of the competent authority. Against the UCP sanction. posting in ledger of relevant policy would be updated in McCamish by issued recipet
However, premium for the months for which insurant has attended to deposit the premium at counter would be accepted in Meghdoot in place of McCamish alongwith interest/fine, if any in due, in case where pushback was applied and receipt for the same would be given to the insurant.
The same screen would be also be provided by infosys in the CPC as well as at customer portal. In case a customer who wants to pay the premium online and there are push backs and as sush, comes to post office, Photo copies of relevant recipts for missing postings may be taken and ledger should be updated in the same manner as mentioned in para 2 above.
1. UCP Sanction also be issued for the premium accpeted in Meghdoot due to pushback and same shoudl also be updated in McCAmish by generating receipt
2. The amount of UCP memo so issued against the UAs of PLI & RPLI Should be charged under the head 8014-01-PLI-Payments if it was for PLI policy, and in case of RPLI policy the amount should be charged under the head 8014-02-RPLI-Payments.
3. UPC Sanction should be issued within three days by the competent authority for such updation in premium ledger in order to ensure that in the next month premium can be accepted in new software (McCamish) straightway at the counter
4. Charging the amount in UCP and generation of recipt in McCamish against that sanction for updation of premium ledger should be on the same day in order to ensure that overall balance of respective funds of PLI & RPLI is not changed
5. The receipt so generated for updation of premium ledger by charging amount in UCP against UAs of PLI & RPLI should be pasted on the copy of UCP sanction and in case it should not be given to the insurant, as the same is done for internal adjustments only.
Directorate letters on Standard Procedure for accepting premium of migrated policies where push back has been applied :
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