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Postal Life Insurance (PLI) – Overview

Posted by binu P Monday, January 31, 2011


Author: Najiya M Ali

Postal Assistant, Department of Posts.

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 ?

PLI-Overview “ High Bonus Low Premium ”

PLI offers bonus rates higher than all types of policies as compared to that of other insurance agencies.

 

 

 

 

SALIENT FEATURES

PLI-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 Facility:

Loan can be obtained at the interest charge of 10% p .a Loan can be obtained from other financial institutions like nationalised bank, HDFC etc on the security of Policies.

 

Assurance upto 10 Lakhs:

PLI offers policies up to a maximum Sum Assured of Rs.10 lakh for Whole life and Endowment Assurance Policies.

 

Income Tax Savings:

PLI Premium paid is eligible for Income Tax Savings under section 80C of Income Tax Act.

 

Non Medical Scheme.

Scheme of Non Medical policies of Endowment Assurance available up to One Lakh Sum Assured ,subject to conditions.

 

BENEFITS

PLI-RPLI-Benefits Benefits of Postal Life Insurance.

  1. 100% security by Government of India
  2. Income Tax Rebate under Sec. 88.
  3. Low Premium.
  4. High Bonus.
  5. Options for Loan, Assignment, Surrender, Conversion and Paid Up Value.
  6. Repayment of Loan is optional.  However interest is payable every 6 months.
  7. Easy transfer to any place in India free of cost.
  8. Pass book facility for payment of premia & other payments like loan, interest through any Departmental Post Office.
  9. Pay recovery facility for Institutions and Organizations having more than 20 policies.
  10. Facility for payment of premia monthly, half yearly and annually on any working day of the month for which it is due.
  11. Rebate @ 1% for payment of 6 months premia in advance.
  12. Rebate @ 2% for payment of 12 months premia in advance.
  13. Nomination facility.
  14. Facility for revival of policies lapsed due to non-payment of premium.
  15. Payment of policy money through any Post Office, anywhere in India.
  16. Centralized accounting for quick and easy settlement of claims through fully computerized office management.
    RPLI

Download Forms for PLI / RPLI

SL NO

NAME

DOWNLOAD

1

Change of Nomination

Download

2

Notice of change of Nomination

Download

3

Loan Assignment

Download

4

Maturity Value of Endowment Assurance

Download

5

PLI Loan

Download

6

Revival of PLI Policy

Download

7

RPLI Surrender

Download

8

RPLI Maturity Value Claim

Download

9

Declaration of Policies above 5 Lakhs

Download

10

PLI / RPLI Credit Certificate

Download

11

Death Claim

Download

 
JOIN PLI
Take a wise decision now. Earn this year bonus.
7000 per one lakhs for endowment and 9000 per one lakh for Whole Life.
NEED HELP ?
Contact your nearest post office to get more details about Postal Life Insurance.
Phone: 91-11-24674794 , 24671317
 
Do you Have any Doubts Regarding PLI ?
Please join the Face-book discussion group to clarify your doubts regarding Postal Life Insurance .
 
or
 
Ask your queries in the comments section of this blog post.




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2 Responses to Postal Life Insurance (PLI) – Overview

  1. prahakaran Says:
  2. PRABHAKARAN.N
    PH.D.MANGT
    MA.PUBLIC ADMIN
    M.COM
    PG DIPLOMA OFFICE MANGT
    PG DIPLOMA PUBLIC RELATION
    DCA
    AMSPI
    FNPO ORGANISING SECTRAY
    AIDMK CONVYER
    BJP CENTRAL LEADER
    BANGALORE TAMIL SANGAM LIFE MEMBER
    09986194654
    08951430498
    Prabhakaran1966@gmail.com
    Pl consider with in the department officials
    come from lower level with higher qualification
    as eligibility appear Group.B. Exam from postal Asst to Sr.PM.EXAM.with out prescribed service.and give incentive promotion.

     
  3. A life insurance is certainly a type of coverage that you should have for your family. You may resent having to pay a monthly premium but at least you can be sure that your family's financial security won't be compromised in the event of your death.

     

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