Post Office Life Insurance Rules 2011-“Practice high-quality MCQs for the Inspector of Post Office (IPO) Exam covering key postal rules, procedures, and current schemes. Ideal for quick revision and accurate self-assessment based on the latest syllabus.”

Post Office Life Insurance Rules 2011

1. When was the Postal Life Insurance (PLI) scheme first introduced in India?

A) 01 February 1854
B) 01 February 1884
C) 12 October 1881
D) 20 January 2006

2. Who is authorized to amend the Post Office Life Insurance Rules, 2011?

A) Parliament of India
B) Director General of Posts
C) President of India
D) Ministry of Communications

3. The Post Office Life Insurance Rules, 2011 are applicable to:

A) Only PLI
B) Only RPLI
C) Both PLI and RPLI
D) Private Life Insurance

4. What is the Free Look Period under PLI/RPLI policies?

A) 7 days from date of proposal
B) 15 days from date of policy delivery
C) 30 days from policy issue date
D) Before the first premium is paid

5. When does the risk under a PLI policy commence?

A) Date of first premium payment
B) Date of policy printing
C) Date of delivery to insured
D) Date of approval/acceptance

6. What is the minimum duration and premium count after which a PLI policy becomes auto paid-up?

A) 24 premiums and 2 years
B) 12 premiums and 1 year
C) 36 premiums and 3 years
D) 48 premiums and 5 years

7. What happens to a PLI policy with 6 unpaid premiums and age <3 years?

A) It becomes paid-up
B) It is reinstated
C) It lapses
D) It remains active till next due

8. Which PLI policy does not allow loans or surrender options?

A) Whole Life Assurance
B) Children Policy (Bal Jeevan Bima)
C) Endowment Assurance
D) CWLA

9. What is the maximum sum assured under any PLI policy (except Children Policy)?

A) ₹10 lakh
B) ₹25 lakh
C) ₹50 lakh
D) ₹1 crore

10. Which PLI policy provides survival benefits at intervals before maturity?

A) Endowment Assurance
B) Whole Life Assurance
C) Anticipated Endowment Assurance
D) Children Policy