Application For Financing A Life Insurance Policy Out Of Provident Fund Account

This document is format for the application for the member who desires to financing a life insurance policy out of the provident fund account. Para 62 of the Employee’s Provident Fund Scheme, 1952 which mandates filling of such an application to the commissioner, but shall not be accepted of the member’s own contribution in his Provident Fund Account with interest thereon is not sufficient to pay the premium for two years. After being satisfied that the Life Insurance Corporation has no prior assignment of policy and is even free from all encumbrances, the commissioner shall accept to make payment for existing policy.

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