Postal Life Insurance (PLI) policyholders can now pay premiums through Nagad without visiting post offices physically, as the mobile financial service signed an agreement with Bangladesh Post Office to digitise the payment system for around 2 lakh customers.
The agreement was signed at Dak Bhaban on Wednesday, enabling payments for all major Postal Life Insurance policies through the Nagad app, including Whole Life Insurance, Endowment Insurance, Fixed Term Insurance, and Education and Marriage Endowment Insurance, said a press release.
On behalf of Bangladesh Post Office, the agreement was signed by Additional General Manager (East Zone, Dhaka) Md Abdul Hannan and Additional General Manager (West Zone, Rangpur) Pradip Kumar.
Nagad Chief Corporate Affairs Officer Md Samsul Islam signed the agreement on behalf of the mobile financial service provider.
Director General of the Directorate of Posts Kazi Asadul Islam and Nagad Administrator Md Motasem Billah attended the signing ceremony.
Postal Life Insurance, launched in 1884, is the country’s oldest life insurance service.
Until now, policyholders were required to visit post offices during designated hours to pay premiums.
Under the new arrangement, customers can pay premiums at any time through the “Bill Pay” section of the Nagad app by entering their policy information.
Customers will also receive instant digital receipts and confirmation messages following successful transactions.
Directorate of Posts Director General Kazi Asadul Islam said the initiative would modernise Postal Life Insurance services and make them more customer-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 said.
Nagad Administrator Md Motasem Billah said the initiative would reduce customer hassle and save time by bringing government services directly to mobile devices.
Officials expect the move to improve transparency and efficiency in insurance services while expanding Nagad’s customer network.
Among others present were Directorate of Posts Additional Director General (Accounts and Establishment) SM Harunur Rashid, Additional Director General (Supply and Inspection) Parvin Banu, Additional Director General (Postal Service) and Additional Responsibilities (Planning) Md Zakir Hossain Noor, and Director (Investigation and Inspection) and Additional Responsibilities (Personnel and Establishment) Khan Hasan Mohammad Iqbal Masud.
