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Subject: Difficulties arises while accepting arrears of premium with respect to conversion cases.

This is regarding problems arise while accepting arrears of premium

with respect to conversion cases. To overcome such problems following guidelines

are issued for smooth functioning of Conversion Branch.

1. In many conversion cases it is observed that arrears/di(Terence of credit

informed to the insurant is already paid by him/her. In such cases PM/SPM

will re-calculate the amount as per P R Book record i.e. if premium has

already been paid by the insurant for that particular month, in such case

PM/SPM will adjust amount accordingly or if premium had been paid by

old rate, difference of premium as per revised rate may be accepted.

2.  If there is any variation in interest calculation as compared to the software,

interest may be accepted as per software.

3. In case the insurant is unable to credit said amount before due date. PM/SPM

will accept the arrears with interest for next month.

4. In some cases, while issuing notice it is not clear whether the insurant had paid the premium as per old rate up to date or otherwise. In such cases PM/SPM should check the last payment record and accept the premium or difference of premium accordingly.