If you do not recognize this charge and suspect it may be an unauthorized debit:
The search results were surprisingly specific. Almost every link pointed to the same conclusion.
Demystifying PLIC-SBD: What This Bank Statement Charge Means and How to Claim It plic-sbd insurance claim on bank statement
AI responses may include mistakes. For financial advice, consult a professional. Learn more Retirement, Investments, and Insurance | Principal Contact. 800-986-3343. Plic-sbd insurance claim
: If you see a recurring charge, it is likely an automated deduction for an insurance policy, often provided through an employer. Insurance Claim If you do not recognize this charge and
The descriptor on a bank statement typically refers to a transaction with Principal Life Insurance Company (PLIC) , specifically related to their Specialty Benefits Division (SBD) . This code most often appears when a claim payment—such as for short-term disability, long-term disability, or life insurance—is deposited into your account, or when a premium payment is debited. What is PLIC-SBD?
Do not call your bank first; call the insurance company to get immediate answers. Contact customer service. For financial advice, consult a professional
Maybe the user is referring to "PLIC" as "Postal Life Insurance Company" and "SBD" as "Savings Bank Deposit" or something. I'll search for "Postal Life Insurance SBD". mention of "SBD".
You, or a joint account holder, likely signed up for a micro-insurance or savings-linked life insurance policy through your bank or local postal service.
If you have reviewed your records and still cannot identify why PLIC-SBD is withdrawing money from your account, take immediate action to protect your funds. Step 1: Contact Your HR Department
Now that he knew what meant, James had a choice. He could keep the insurance, or he could cancel it. He decided the coverage wasn't necessary for his current situation.