India Post Postal Life Insurance Overview

With 1,54,939 branches the nation over, India Post has nearness in the most remote territories of the nation, offering an extensive variety of items and basic administrations, giving life cover is a piece of this blend of administrations given by the Department.

Postal Life Insurance (PLI) 

Postal Life Insurance (PLI) was presented on first February 1884. It began as a welfare plot to serve postal representatives and was later stretched out to the workers of the Telegraph Department in 1888. In 1894, PLI stretched out protection cover to female representatives of the recent P and T Department when no other insurance agency secured female lives. It is the most seasoned life back up plan in this nation.

Throughout the years, PLI has developed generously from a couple of hundred approaches in 1884 to in excess of 46 Lacs arrangements as on 31.03.2017. It presently covers representatives of Central and State Governments, Central and State Public Sector Undertakings, Universities, Government helped Educational Institutions, Nationalized Banks, Local bodies, self-ruling bodies, joint endeavors having at least 10% Govt./PSU stake, credit co-agent social orders and so forth. PLI likewise stretches out protection cover to the officers and staff of the Defense administrations and Para-Military powers.

Aside from individual protection approaches, Directorate of Postal Life Insurance likewise deals with a Group Insurance plot for the Extra Departmental Employees i.e. Gramin Dak Sevaks(EDAGIS-1992 and GDSGIS-2010) of the Department of Posts.

Rural Postal Life Insurance (RPLI)

Rural Postal Life Insurance (RPLI) began compliant with the proposal of the Official Committee for Reforms in the Insurance Sector (Malhotra Committee). The Committee had seen in 1993, that just 22% of the insurable populace in this nation had been guaranteed and extra security reserves represented just 10% of the gross family investment funds. The Committee had watched:

"The Committee comprehends that Rural Branch Postmasters who appreciate a place of trust in the network, have the ability to peddle life coverage business inside their particular territories… … ."

The Government acknowledged this suggestion and allowed Postal Life Insurance to stretch out its inclusion to the provincial zones to execute life coverage business with impact from 24.3.1995, for the most part in light of the immense system of Post Offices in the country zones and minimal effort of tasks. The prime target of the plan is to give protection cover to the rustic open as a rule and to profit weaker segments and ladies specialists of country regions specifically and furthermore to spread protection mindfulness among the provincial populace.

The Department of Posts has begun this undertaking depended by the Central Government with incredible devotion and earnestness and inside a limited ability to focus time has had an extremely beneficial outcome on the provincial masses. Country Postal Life Insurance, is intended for anybody living in rustic zones. It is a shelter for transient work and craftsmen, and the chaotic division, who proceed onward to urban zones for business, yet keep on having a country base. Work relocating abroad are additionally qualified for a strategy. RPLI has now in excess of 146 Lacs approaches as on 31.03.2017.