Government to launch new rural postal life insurance scheme soon

New Delhi, Feb.11 (ANI): Union Minister of State for Communications and Information Technology, Jyotiraditya M. Scindia, on Wednesday said that the Government is planning to launch a new rural postal life insurance scheme soon to give protection to villagers in the event of any eventuality.

Addressing a gathering here on the occasion of the release of a Commemorative Postage Stamp and Awards Ceremony to mark the Quasquicentennial celebrations of Postal Life Insurance, he said that the new policy will be of Rs. of 1,00,000/- of sum assured in which a person has to contribute only Rs. 1.25 per month or Rs.15/- per year as premium.

He said customers would not have to go to the district headquarters for medical check ups, adding that arrangements would be made locally.

Those who don't possess standard age proof documents can now take Rural PLI policies of upto Rs. One lakh Sum Assured. In summary, PLI is the real Jeevan Bima for the 'Aam Aadmi'.

Scindia informed that recently India Post had enhanced the Rural Postal Life Insurance bonus from Rs.50/- to Rs.55/- for every Rs.1,000 of Sum Assured, whereas the traditional insurers give bonus in the range of Rs.45 to Rs.50/- only.

Today, the number of live policies in PLI and Rural PLI is almost 10 million. The corpus size is more than Rs. 15,000 crores. he total sum assured for all policies comes to nearly Rs. 73,000 crores.

In its 125th Year, PLI has taken several steps for improving after sales services. All works of PLI now-a-days are being done online through a web-based system and data-base of nearly 10 million policy holders are being managed centrally at the National Data Centre.

The Minister also gave away twenty eight awards to the officials of Postal Life Insurance Scheme for their outstanding contributions in business promotion of the Scheme.

The secretary, Department of Posts, Radhika Doraiswamy, Member (PLI) Postal Services Board Shri S. Samant and Chief General Manager PLI Directorate Shri S.K. Sinha were also present on the occasion. (ANI)