What Is Postal Life Insurance By India Post? Know Eligibility Criteria

Posted By:
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Postal Life Insurance is a scheme launched by the Post Department of India where the customers are offered Life Insurance cover with higher returns on the premium. Under this scheme, you can assure a maximum sum of Rs 50 lakhs.

    PLI is offered to the employees of State and Central Governments, State and Central Public Sector Enterprises, Universities, Government Aided Educational Institutions, Local Bodies, Autonomous Bodies, Joint ventures with a minimum of 10% of PSU/Government stake, etc. by the Government Of India.

    Know the eligibility criteria of this scheme:

    Eligibility

    Employees of the following Organizations are eligible to avail Postal Life Insurance Policy.

    • Central Government
    • Defence Services
    • Para-Military forces
    • State Government
    • Local Bodies
    • Government-aided Educational Institutions
    • Reserve Bank of India
    • Public Sector Undertakings
    • Financial Institutions
    • Nationalized Banks
    • Autonomous Bodies
    • Extra Departmental Agents in Department of Posts
    • Employees Engaged/ Appointed a Contract basis by central/ State Government where the contract is extendable
    • Employees of all scheduled Commercial Banks
    • Employees of Credit Co-operative Societies and other Co-operative Societies registered with Government under the Co-operative Societies Act and partly or fully funded from the Central/ State Government/RBI/ SBI/ Nationalized Banks/ NABARD and other such institutions notified by Government
    • Employees of deemed Universities an educational institute accredited by recognized bodies such a National Assessment and Accreditation council, All India Council for Technical Education, Medical council of India, etc. 

     

    Private jobs

    Salaried professionals in Private Sector can not join PLI. Private job categories are not eligible for Postal Life Insurance. They can opt for RPLI policies. What Are The Benefits Post Office Savings Account?

    Continuation of policy

    One can continue the policy if one quits the Government Service. He or she can continue by making payment of premium at any one of the 1,55,000 post offices throughout the country, even after quitting service. Opening PPF Account In Post Office: All You Need To Know

    Age Limit

    In all policies, the age limit is (age as on next birthday):19-55 years. Only in AEA and GRAM Priya in RPLI the maximum age limit is 40 years. Indian Post Payment Bank; India's Most Accessible Banking Network

    Goodreturns.in

    Story first published: Saturday, October 14, 2017, 11:37 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more