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.
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