Postal Life Insurance (PLI) – Overview
INTRODUCTION Postal Life Insurance was started in 1884 as a welfare measure for the employees of Posts & Telegraphs Department under Government of India. Due to popularity of its schemes, various departments of Central and State Governments were extended its benefits. Now Postal Life Insurance is open for employees of all Central and State Government Departments, Nationalized Banks, Public Sector Undertakings, Financial Institutions, Local Bodies like Municipalities and Zila Parisads, Educational Institutions aided by the Government etc. WHY CHOOSE PLI ? “ Hi gh Bonus Low Premium ” PLI offers bonus rates higher than all types of policies as compared to that of other insurance agencies. SALIENT FEATURES Salient Features of Postal Life Insurance: Pass book Facility: Premium can be remitted in any departmental Post Offices in India. Recovery of premium from Pay:-Facility of recovery of premium from salary is available to some selected Departments. Loan F...