Postal Life Insurance was introduced in year 1884 by the then British Government in India as a welfare Scheme for the Government Employees. It is essentially a State Insurance. It is the Oldest Life Insurance in the Country. In the beginning upper limit of Insurance was Rs 4000/- only which by now stands enhanced to Rs 20 Lacs.
Postal Life Insurance {PLI} is State Insurance Scheme which was essentially an Insurance for Central and State Government Employees only but over the years has gradually been extended to employees of Central and State Govt.’s Public Sector Undertakings, Universities, Govt. aided Educational Institutes, Nationalised Banks, Local Bodies, Defence Services, Para-Military Forces. Recently the Govt. of India has further extended the PLI Schemes to the following categories :-
a) Employees appointed on contract basis by Central/State Govt. ,where contract is extendable;
b) Employees of Joint Ventures in which any Govt. /PSU/Nationalised Banks have minimum holding of 10 percent;
c) Members/employees of Coop. Credit Societies and all other Coop. Societies registered with Govt. under Coop. Societies Act and fully or partly funded by Govt./RBI/Nationalised Banks/ NABARD ;
d) Employees of Deemed Universities and Educational Institutes accredited by All India Council of Technical Education, Medical Council of India, etc. and /or affiliated to Universities/Boards, etc.
e) Employees of all Scheduled Banks.
LOW PREMIUM and HIGH BONUS
All time best Insurance for those who are eligible under Postal Life Insurance Schemes.
Sunday, 23 June 2013
Saturday, 22 June 2013
Benefits of Postal Life Insurance
Post Life Insurance(PLI), also popularly know as the Post Office Insurance, is the only insurer policy in the India, which offers you the highest return (bonus) with the lowest premium charged for any product in the market.
A PLI policy holder/insurer also gets following benefits
:
- Change of nomination.
- The insurant can take loan by pledging his/her policy to Heads of the Circle/Region on behalf of President of India, provided the policy has completed 3 years in case of Endowment Assurance and 4 years in case of Whole Life Assurance. The facility of assignment is also available.
- Assignment of Policy to any Financial Institution for taking loan.
- Revival of his/her lapsed policy. Policy lapses after 6 unpaid premiums if it remained in force for less than 3 years and after 12 unpaid premiums if it remained in force for more than 3 years.
- Issue of Duplicate Policy Bond in case of the original Policy Bond is lost, burnt/torn/mutilation.
- Conversion from Whole Life Assurance to Endowment Assurance and from Endowment Assurance to other Endowment Assurance as per rules.
Subscribe to:
Posts (Atom)