Existing life insurance policy financing continues for active policies, while inactive policies require reassignment to members or entitled recipients.

Active life insurance policies previously financed under the earlier Employees' Provident Funds Scheme continue on existing terms, with premium payments facilitated until maturity or termination and benefits payable under policy terms. Inactive policies must be reassigned promptly to members. If a member dies before reassignment, the policy must be reassigned to a valid nominee or, absent a nominee, to the legally entitled person, with notice to the Life Insurance Corporation.

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