Postal ins premiums now be paid thru Nagad

Policyholders of Postal Life Insurance can now pay their premiums from home via the mobile financial service Nagad, eliminating the need to visit post offices in person or wait in queues.

A formal agreement was signed between Nagad and the Bangladesh Post Office on Wednesday to facilitate this digital service.

Under the new arrangement, customers can settle payments for all categories of Postal Life Insurance policies, including whole life, endowment, fixed term, and education and marriage endowment insurances.

Established in 1884, Postal Life Insurance is the oldest service of its kind in the country and currently serves approximately 2 lakh policyholders.

Previously, these customers were required to visit a post office during specific operating hours to make their payments.

This partnership allows for secure and comfortable transactions through Nagad accounts at any time, marking a significant shift in the service’s accessibility.

To complete a payment, customers can select the “Bill Pay” option within the Nagad app, choose PLI, and enter their policy information.

Once the transaction is successful, a digital receipt and a confirmation message are issued instantly to serve as official proof of payment.

Commenting on the initiative, Directorate of Posts Director General Kazi Asadul Islam said, “The opportunity to pay premiums via Nagad will not only ensure faster service for customers but also accelerate the digital transformation of the Post Office.”