Dhaka: Policyholders of Postal Life Insurance (PLI) in Bangladesh no longer need to visit post offices or stand in long queues to pay their premiums. Customers can now conveniently settle their payments from home through the mobile financial service ‘Nagad’.
According to Bangladesh Sangbad Sangstha, Nagad signed a formal agreement with the Bangladesh Post Office to facilitate this digital service, as announced in a press release. The agreement was signed at Dak Bhaban by Md. Abdul Hannan, additional general manager (East Zone, Dhaka), and Pradip Kumar, additional general manager (West Zone, Rangpur), representing the Bangladesh Post Office, while Md. Samsul Islam, chief corporate affairs officer, signed for Nagad. Present at the signing ceremony were Director General of the Directorate of Posts Kazi Asadul Islam and Administrator of Nagad Md. Motasem Billah.
Under this agreement, premiums for all types of PLI policies, including Whole Life Insurance, Endowment Insurance, Fixed Term Insurance, and Education and Marriage Endowment Insurance, can now be paid via Nagad. Initially launched in 1884, Postal Life Insurance is the oldest life insurance service in Bangladesh, currently serving around 200,000 policyholders. Previously, these customers were required to visit a post office within specific hours to settle their premium payments. This partnership now allows policyholders to pay their premiums securely and comfortably from their Nagad accounts at any time.
To pay insurance premiums, customers can navigate to the “Bill Pay” section of the Nagad app, select PLI, and enter their policy details. Upon successful payment, customers will instantly receive a digital receipt and a confirmation message, serving as proof for future reference.
Commenting on the initiative, Director General of the Directorate of Posts Kazi Asadul Islam emphasized that Postal Life Insurance is a trusted name for financial security in Bangladesh. “We are continuously working to make this service more modern and user-friendly. 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,” he stated.
Administrator of Nagad Md. Motasem Billah remarked, “Our primary goal is to simplify people’s lives. Postal Life Insurance is an old and popular service in this country, and by creating this opportunity to pay via Nagad, we are not only reducing customer hassle but also saving their valuable time.” He added, “We are delighted to bring government services directly to the people’s fingertips.”
Officials anticipate that this modernization by the Post Office will bring greater transparency and efficiency to insurance services. Similarly, the addition of this significant milestone to Nagad’s service portfolio will not only benefit existing customers but also encourage new users to join the Nagad network.