Postal Life Insurance (PLI)
Postal Life Insurance & Rural Postal Life Insurance
Postal Life Insurance (PLI) was introduced on 24th March 1884 as a welfare measure for the employees of the Department of Posts. Later, the scheme was extended to employees of Central and State Governments, Public Sector Undertakings, and other government organizations. Rural Postal Life Insurance (RPLI) was introduced in 1995 for the rural population at affordable premiums.
PLI Plans
- Suraksha – Whole Life Assurance with profits.
- Sugam – Endowment Assurance with profits.
- Santosh – Convertible Whole Life Assurance with profits.
- Sumangal – Anticipated Endowment Assurance with profits.
- Yugal Suraksha – Joint Life Assurance.
- Bachat Shema – Children Assurance.
RPLI Plans
- RPLI Endowment Assurance
- RPLI Whole Life Assurance
- RPLI Convertible Whole Life Assurance
- RPLI Joint Life Assurance
- RPLI Children Assurance
Key Benefits
- Low premium rates compared to other insurance providers.
- Liberal underwriting policy with minimal medical requirements.
- Bonus declared annually based on surplus valuation.
- Loan facility against policies after payment of premiums for a specified period.
- Income Tax benefits under Section 80C and Section 10(10D) of the Income Tax Act.