PLI information

Postal Life Insurance (PLI) was introduced on 1st February 1884. It is the oldest Life insurer in this country. It now covers employees of Central and State Governments, Central and State Public Sector Undertakings, Universities, Government aided Educational institutions, Nationalized Banks, Local bodies etc. PLI also extends the facility of insurance to the officers and staff of the Defence services and Para-Military forces. As on 31.03.2014, PLI has 54,06,093 number of policies with Sum Assured 16,129.39 crore. Apart from single insurance policies, Postal Life Insurance also manages a Group Insurance scheme for the Extra Departmental Employees (Gramin Dak Sevaks) of the Department of Posts.

Rural Postal Life Insurance (RPLI) came into being w.e.f. 24.03.1995 as a sequel to the recommendation of the Official Committee for Reforms in the Insurance Sector (Malhotra Committee) mainly because of the vast net work of Post Offices in the rural areas and low cost of operations. The prime objective of the scheme is to provide insurance cover to the rural public in general and to benefit weaker sections and women workers of rural areas in particular and also to spread insurance awareness among the rural population. As on 31.03.2014 we have about 1,50,14,314 RPLI policies with sum assured of Rs.79,466.46 crore.

PLI is an exempted insurer under Section 118 (c) of the Insurance Act of 1938. It is also exempted under Section 44 (d) of LIC Act,1956 Postal Life Insurance.

D.G. (Posts) is the Administrator of both PLI and RPLI Funds. PLI and RPLI are self-financing schemes, i.e. actual costs of operations are debited to the respective Funds. PLI & RPLI also pay a Flat Rate of Remuneration to the Department of Posts for using its infrastructure and staff.

PLI and RPLI processing centres are fully computerized.

PLI offers 7 (Seven) types of plans:

  • Whole Life Assurance (SURAKSHA)
  • Convertible Whole Life Assurance (SUVIDHA)
  • Endowment Assurance (SANTOSH)
  • Anticipated Endowment Assurance (SUMANGAL)
  • Joint Life Assurance (YUGAL SURAKSHA)
  • Scheme for Physically handicapped persons
  • Children Policy
RPLI offers following types of plans:
  • Whole Life Assurance ( GRAMA SURAKSHA)
  • Convertible Whole Life Assurance (GRAMA SUVIDHA)
  • Endowment Assurance ( GRAMA SANTOSH)
  • Anticipated Endowment Assurance (GRAMA SUMANGAL)
  • 10 years RPLI (Gram Priya)
  • Scheme for Physically handicapped persons
  • Children policy
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