Postal Life Insurance Plans

Life Insurance
  • Premiums as low as Rs.18/day for sum assured of Rs.1 crore
  • Paperless process available
  • Choose between lump sum and monthly payout options
Postal Life Insurance is one of the earliest insurance schemes to have been launched in India. The most striking feature of a PLI scheme is that it fetches high returns (with bonus) for its policyholders at extremely low-priced premiums.

Introduction to Postal Life Insurance:

On February 1, 1884, Postal Life Insurance (PLI), the oldest insurer in the country was introduced under the Queen Empress of India with the express approval of the Secretary of State (for India) to Her Majesty. The scheme at the time was intended as welfare scheme to benefit Postal service employees. It was later extended to employees of Telegraph department in 1884. In its early initiation days the maximum insurance amount limit was Rs.4,000, currently at Rs. 50 lakhs.

The Postal Life Insurance schemes are some of the most convenient and reasonably low-premium personal investment products in the country.

What is Postal Life Insurance?

Postal Life Insurance Scheme offers Life Insurance cover with high returns on premium. The maximum sum assured offered under this scheme is Rs. 50 lakh. This policy is offered by the Government of India, to employees of Central and State Public Sector Enterprises, Central and State Governments, Government Aided Educational Institutions, Universities, Government aided Educational Institutions, Autonomous Bodies, Local Bodies, Cooperative Societies, Joint Ventures having a minimum of 10% Government/ PSU stake, etc. A group insurance scheme is also managed by Postal Life Insurance, which is for “Gramin Dak Sevaks”, i.e., Extra Departmental Employees, of the Department of Posts.

PLI Statistics - A Detailed Report:

Year Total number of policies procured during a fiscal year Sum assured of these procured policies (in Rs. Crore) Total number of active policies at the end of fiscal year Overall sum assured amount (in Rs. Crore) Total income of premiums (in Rs. Crore) Corpus of fund
2011-2012 482423 13288.15 5006060 76591.33 3681.03 23,010.55
2012-2013 454053 14695.59 5219326 88896.46 4557.29 26,131.34
2013-2014 433182 16129.39 5406093 102276.08 5352.01 32,716.26
2014-2015 324022 14276.91 5242257 109106.93 5963.46 39,536.33
2015-2016 198606 9644.97 4930838 109982.09 6657.03 46,302.72
2016-2017 213323 11096.67 4680013 113084.81 7233.89 55,058.61

Source: www.postallifeinsurance.gov.in

Features of Postal Life Insurance Policy:

A policyholder can avail the following benefits:

  • Nomination facility: The policyholder can nominate his/her beneficiary, and can also make changes to the nomination.
  • Loan facility: Loan facility is available against this policy. The policyholder can pledge his/her policy as a collateral to the Heads of the Region/ Circle on behalf of the President of India, once the policy has attained 3 years maturity in case of an Endownment Assurance policy and 4 years policy period has been completed in the case of a Whole Life Insurance policy. Assignment facility is also available under this scheme.
  • Policy Revival: A policyholder can revive a lapsed policy. The policy can be revived when policy has lapsed under the following conditions -
    • Policy has lapsed after 6 successive non-payments of premium with the policy being in effect for less than 3 years.
    • Policy has lapsed after 12 successive non-payments of premium where policy has been in effect for more than 3 years.
  • Duplicate Policy Document: A duplicate policy document will be issued to the policyholder if he/she has lost the original document. This also applies to the case where the original policy document is mutilated, burned or torn and the insured wants a duplicate of the same.
  • Conversion of Policy: This policy can be converted from a Whole Life Assurance policy to an Endowment Assurance Policy. An Endowment Assurance Policy can be converted to another Endowment Assurance plan as per the regulations and guidelines laid down by the insurer.

Benefits of Investing in PLI:

Some of the other benefits and discounts offered under the Postal Life Insurance scheme are as follows:

  • The insured can avail income tax exemption as provided under Sec. 88 of the Income Tax Act.
  • The premium payable for the sum assured and coverage is much lower than that payable under any other .
  • Additional facilities offered under this policy are Assignment, Loan, Conversion, Surrender and Paid Up Value options.
  • The policy can be transferred to any Circle within India, at no additional charges.
  • Passbook facility is available to track the payment of premium and in case of loan transactions, etc.
  • Premium can be paid on an annual, half-yearly and monthly basis. When the payment is due, the policyholder can make a payment on any working day.
  • If you make an advance premium payment for a policy period of 6 months, you can avail a discount on premium worth 1% of the value.
  • If you make an advance premium payment for a policy period of 12 months, you can avail a discount on premium worth 2% of the value.
  • Nomination facility is available.
  • Since this scheme has a centralized accounting facility, claims process is quick and easy.

Postal Life Insurance Eligibility:

Employees of the organizations listed below are eligible to obtain a Postal Life Insurance policy:

  • Defense Services
  • State Government
  • Central Government
  • Para Military forces
  • Local Bodies
  • Reserve Bank of India
  • Government-aided Educational Institutions
  • Public Sector Undertakings
  • Nationalized Banks
  • Financial Institutions
  • Autonomous Bodies
  • Those appointed in the Central/ State Government on a contract basis, where the contract can be extended.
  • Employees of all scheduled Commercial Banks
  • Extra Departmental Agents in Department of Posts
  • Those employed in educational institutes that are accredited by recognized bodies such as All India Council of Technical Education, National Assessment and Accreditation Council, Medical Council of India etc.
  • Those employed in Credit Co-operative Societies and other Co-operative Societies registered with Government under the Co-operative Societies Act. These can be and partly or fully funded by State Government, Central Government, RBI, Nationalized Banks, SBI, NABARD, etc.

Advantages of Postal Life Insurance Policies:

  • PLI schemes have several benefits awarded to their applicants and is one of the most sought out insurance products in the country because of its flexibility:
  • Name of nomination can be changed by the insured at any given time.
  • Duplicate policy bond can be re issued to insured, in case the original Policy Bond is burnt, torn, lost or mutilated.
  • A lapsed postal insurance policy can be revived after 6 unpaid premiums if it remained in force for less than 3 years. It can also be revived after 12 unpaid premiums if it remained in force for more than 3 years.
  • The insured can avail loan by pledging his/her scheme to Heads of the Circle/Region on behalf of President of India, on the condition that the policy is 3 years old in case of Endowment Assurance and 4 years in case of Whole Life Assurance. Assignment facility can also be availed.
  • Policy can be assigned to taking a loan to any financial institution.
  • It is possible to convert a Whole Life Assurance to Endowment Assurance and from Endowment Assurance to other Endowment Assurance, based on certain conditions and rules.

Types of Postal Life Insurance Schemes

There 7 different life insurance policies under PLI:

1. Whole Life Insurance (Suraksha):

The whole life insurance scheme from Postal Life Insurance has the following features and requirements:

  • Scheme: Assured amount + accrued bonus is paid to nominee, assignee or legal heir, after the insured expires.
  • Age Eligibility: Minimum:19 years Maximum: 55 years
  • Policy Conversion: Policy can be converted to an Endowment Assurance policy after completion of a year and before the insured turns 57 years of age.
  • Minimum Sum assured: Rs. 20,000
  • Maximum Sum Assured: Rs. 50 lakh
  • Loan Facility: Available after 4 years of completion
  • Policy Surrender: Policy can be surrendered after 3 years of completion. Policyholder will not be eligible for bonus if assigned or loaned before 5 years of completion, else proportionate bonus on the reduced amount assured can be accrued if the policy is assigned for loan or surrendered.
  • Medical Examination: Mandatory
  • Premiums Payable: The premiums are calculated based on factors such as age of maturity and age of entry and hence, variable for the applicant.

2. Endowment Assurance (Santosh):

The endowment assurance scheme from Postal Life Insurance has the following features and requirements:

  • Scheme: Assured amount + accrued bonus is paid to proponent when he or she attains the pre-decided age of maturity. The sum amount insured and bonus is payable to the assigned, nominee or legal heir in case of unprecedented death.
  • Age Eligibility: Minimum: 19 years Maximum: 50 years
  • Policy Conversion: Policy can be converted to any other Endowment Assurance policy under the rules and regulations of PLI.
  • Minimum Sum assured: Rs. 20,000
  • Maximum Sum Assured: Rs. 50 lakh
  • Loan Facility: Available after 4 years of completion
  • Policy Surrender: Policy can be surrendered after 3 years of completion. Policy will not be eligible for bonus if assigned or loaned before 5 years of completion else proportionate bonus on the reduced amount assured can be accrued if the policy is assigned for loan or surrendered.
  • Medical Examination mandatory
  • Premiums Payable: The premiums are calculated based on factors such as age of maturity and age of entry and hence, variable for the applicant.

3. Convertible Whole Life Insurance (Suvidha):

The convertible whole life insurance scheme from Postal Life Insurance has the following features and requirements:

  • Scheme: Assured amount + accrued bonus is paid to proponent when he or she attains the pre-decided age of maturity. The sum amount insured and bonus is payable to the assigned, nominee or legal heir in case of unprecedented death.
  • Age Eligibility: Minimum:19 years Maximum: 55 years
  • Policy Conversion: Policy can be converted to Endowment Assurance after 5 years but must not exceed 55 years. If option for conversion not used, the policy will automatically turn into a Whole Life Insurance by default.
  • Minimum Sum assured: Rs. 20,000
  • Maximum Sum Assured: Rs. 50 lakhs
  • Loan Facility: Available after 3 years of completion
  • Policy Surrender: Policy can be surrendered after 3 years of completion. Policy will not be eligible for bonus if assigned or loaned before 5 years of completion else proportionate bonus on the reduced amount assured can be accrued if the policy is assigned for loan or surrendered.
  • Medical Examination mandatory
  • Premiums Payable: The premium amount is calculated on factors that include age of maturity and age of entry and hence, variable for the applicant.

4. Anticipated Endowment Assurance (Sumangal):

The anticipated endowment assurance scheme from Postal Life Insurance is best suited for people who expect periodical returns, and has the following features and requirements:

  • Scheme:Money back policy
  • 15 Years Term Policy: 20% of benefits are paid post 6 years 20% of the assured sum, 9 years 20% of the assured sum, 12 years 20% of the assured sum and 15 years 40% of the assured sum + assured bonus.
  • 20 Years Term Policy: Benefits are paid post 8 years 20% of the assured sum, 12 years 20% of the assured sum, 16 years 20% of the assured sum and 20 years 40% of the assured sum + assured bonus
  • Maximum Sum Assured: Rs. 50 lakh
  • Such payments, in the event of unexpected death of the insured, will not be taken into consideration and the full sum assured + accrued bonus is payable to the assignee or legal heir.
  • Medical Examination mandatory
  • Premiums Payable: The calculation premium is based on factors that include age of maturity and age of entry and hence, variable for the applicant.

5. Joint Life Endowment Assurance (Yugal Suraksha):

The joint life assurance from Postal Life Insurance requires any one of the spouses to be eligible for PLI policies. The scheme has the following features and requirements:

  • Scheme: Both spouses are covered to the extent of sum assured + accrued bonus with only one premium.
  • Age Eligibility: Minimum: 19 years Maximum: 55 years
  • Policy Conversion: Policy can be converted to any other Endowment Assurance policy under the rules and regulations of PLI.
  • Minimum Sum assured: Rs. 20,000
  • Maximum Sum Assured: Rs. 50 lakh
  • Loan Facility: Available after 3 years of completion
  • Policy Surrender: Policy can be surrendered after 3 years of completion. Policy will not be eligible for bonus if assigned or loaned before 5 years of completion else proportionate bonus on the reduced amount assured can be accrued if the policy is assigned for loan or surrendered.
  • Medical Examination mandatory
  • Premiums Payable: The premium amount is calculated on factors that include age of maturity and age of entry and hence, variable for the applicant.

6. Scheme for Physically Handicapped Person:

Any of the above mentioned life insurance policies can be availed by physically handicapped applicants, under this scheme. However, premium prices are dependable on the nature and extent of handicap which will be determined through the mandatory medical examination.

7. Children Policy (Bal Jeevan Bima):

There is a separate policy for the children of policyholders which can be taken. Maximum 2 children in a family are eligible for this scheme:

  • Main Policyholder Age Eligibility: Maximum: 45 years
  • Children Age Eligibility: Minimum: 5 years Maximum: 20 years
  • Maximum Sum Assured: Rs. 3 lakh or equivalent to the sum assured of the main policy holder whichever is less
  • Loan Facility:Not available
  • No premium is payable, in case death of main policy holder and full sum assured + accrued bonus paid after the completion of the policy term.
  • Main policyholder is responsible for payments for the Children Policy.
  • No mandatory medical examination required for child.
  • Policy bonus calculated at the rate applicable to Endowment Policy. The POIF Rules applicable at the time, shall be applicable to Children Policy.

Postal Life Insurance Scheme Bonus:

Here are the Postal Life Insurance Bonus rates

Type of Insurance Policy Rate of Bonus
Endowment Assurance (EA) Rs. 50 per Rs. 1000 of the sum assured
Whole Life Assurance (WLA) Rs. 65 per Rs. 1000 of the sum assured
Convertible Whole Life Policies Whole life bonus rate is applicable. However, on conversion, the applicable rate will be equal to the endowment bonus rate.
Anticipated Endowment Assurance Rs. 47 per Rs. 1000 of the sum assured

Postal Life Insurance Customer Guidelines:

Here are a few guidelines to those who invest in a Postal Life Insurance policy:

  • The policy number will be available on the policy document. This will be needed for your future reference, to identify your policy and to make transactions such as payment of premium, servicing the policy, etc.
  • The Policy Bond is very important and the original must be maintained safely. This would be needed at the time of claim settlement. If you have lost your policy bond or if it is damaged, the insurance provider will provide you a duplicate copy of the same upon request.
  • Premium must be paid regularly, for the policy cover to be in effect. If the policy lapses due to non-payment, the cover will not be available. Thus, the policyholder will not be able to place a valid claim. The premium must be paid in advance, on the 1st day of each calendar month. A late payment penalty will be levied if there is a delay in payment. A grace period is available, which extends to the last working day of the concerned month.
  • Deduction from pay – Premium can be paid via deduction from pay. This facility can be initiated only with the consent of the employer. The premium amount will be regularly deducted from the policyholder’s salary. This will be reflected in the salary slip.
  • Transfer of Policy – The Postal Life Insurance policy can be transferred to another Circle within India, if the policyholder has received a job transfer.
  • Payment modes – The premium for the Postal Life Insurance policy can be paid via Cheque or Cash. Payment facilities include online payment, over the counter payment at post offices, Electronic Clearance System (ECS), etc.
  • Contact Details – The policyholder has to make sure that he/she provides accurate information with regards to address and phone number. This is critical especially because in the event of a claim, the Claim Cheque will be sent to the address specified. Hence, it is important that any change is updated immediately.
  • Lapse of Policy – In case of 6 successive non-payment of premium and if the policy has been in effect for less than 3 years, then the policy lapses. In case of 12 successive non-payment of premium where policy has been in effect for more than 3 years, the policy will lapse.
  • Revival of discontinued policy – If the policy has been discontinued once it has not been reinstated during the revival period, the policyholder can place a request to the Chief Postmaster General for revival of the policy. This is subject to payment of all pending premium with interest. The policyholder must also submit a report from a Medical Examiner certifying that the life assured is in good health and his/her background remains unchanged.
  • Loan against policy – If the policy has been in effect for 3 years or more, the policyholder can avail a loan against the policy. Loan facility is also available if the policy has accrued a surrender value of at least Rs. 1000.
  • Policyholders can contact the officials at PLI through a letter or telephone, if they want to get a grievance addressed or an issue resolved.
  • Policyholders can also send across an email detailing the complaint to the email ID pli.dte@gmail.com

Postal Life Insurance Forms:

The following proposal forms are available online at the Postal Life Insurance website, for download:

  • RPLI (Rural Postal Life Insurance) Form
  • RPLI Medical Form
  • Child Proposal Form
  • Yugal Suraksha Form
  • WLA (Whole Life Assurance), CWLA (Convertible Whole Life Assurance), EA (Endowment Assurance) and AEA Form
  • Loan Application Form
  • Claims Form
  • Form for Revival of Lapsed Policy
  • Maturity Claim Form
  • Personal Bond of Indemnity
  • Survival Benefit Claim Form

PLI Citizen's Charter

Service Turnaround Time
Issue of acceptance letter 15 days
Inter-Circle transfer of policies 10 days
Issue of policy bonds 15 days
Settlement of claims on maturity 30 days
Settlement of death claim involving investigation 90 days
Settlement of claims on death with nomination 30 days
Settlement of claims on death without nomination 30 days
Payment of paid-up value 30 days
Changes of address 10 days
Loan for policies 10 days
Change of nomination 10 days
Issue of duplicate policy document 10 days
Assignment 10 days
Conversion of policy 15 days

Postal Life Insurance Premium Calculator:

You can calculate the amount of premium payable on your Postal Life Insurance policy, by using the online calculator tool. By entering a few relevant details, the premium calculator tool will reflect the estimated premium amount that the policyholder will have to pay for the cover he/she requires. Factors affecting the premium are age of the policyholder, type of policy, sum assured required, etc. The details to be filled include policyholder details such as age as on the date of application/ entry, type of policy, sum assured, date of birth, spouse’s date of birth in case you are applying for the Yugal Suraksha scheme, age of insured at the maturity of the policy, etc. The minimum sum assured available is Rs. 10,000 and the maximum sum assured available is Rs. 5, 00,000. The available Postal Life Insurance policy types are Endowment Assurance Plan, Anticipated Endowment Assurance Plan, Whole Life Assurance Plan and Convertible Whole Life Assurance Plan. Once you provide all the relevant details and click on the submit tab, you will receive details regarding your monthly premium.

FAQs on Postal Life Insurance:

  1. What is the main differentiation between Postal Life Insurance and other Insurance?

    A. PLI can be availed only by Government and Semi-Government employees. PLI is also the only insurer that offers policyholders high bonuses at reasonably-priced premiums.

  2. Who are all the people, eligible to use this insurance?

    A. People who hold employment under the following types of bodies and organizations are eligible for PLI policy:

    • Central Government
    • Defense Services
    • Reserve Bank of India
    • Public Sector Undertakings
    • Financial Institutions
    • Para Military Forces
    • State Government
    • Local Bodies
    • Educational Institutions/ Government-aided
    • Nationalized Banks
    • Autonomous Bodies
    • Extra Departmental Agents in Department of Post
  3. Does Postal Life Insurance have any guarantor?

    Yes, Government of India, guarantees Postal Life Insurance

  4. Do both spouses need to be Government employees to avail Postal Life insurance?

    No, the 'Yugal Suraksha' scheme allows husband and wife to avail the scheme as long as either of them is a Government employee. Premiums initially are slightly high but both are covered under the scheme.

  5. If the insured quits Government service, can they continue using the scheme?

    Yes, he or she can, as long the insured keeps paying the premiums in any of post office around the country.

  6. Can an insured, revive a lapsed policy?

    Yes, under the following conditions: A lapsed postal insurance policy can be revived after 6 unpaid premiums if it remained in force for less than 3 years. It can also be revived after 12 unpaid premiums if it remained in force for more than 3 years.

  7. Can one surrender their life insurance from PLI?

    Yes one can do that. However, the surrender value is subjective to the surrender factor, type and term of policy.

  8. Can an insured avail loan facility from PI?

    Yes, it can do so depending upon the type of insurance scheme and the tenure of the insurance, when the insured wishes to avail the loan.

  9. How many child policies in a family, can a main policyholder take?

    The family of the main policy holder can have up to 2 children insured under this policy.

  10. What is the maximum insurance amount for a policy from Postal Life Insurance?

    The maximum amount that can be assured under a policy from Postal Life Insurance is Rs. 5 lakh.

  11. Is PLI a tax exempted insurance provider?

    Yes, PLI is a tax exempted insurance provider as stipulated under Section 118 C of the Insurance Act, 1938 and also under Section 44 D of LIC Act of 1956.

  12. When was the Postal Life Insurance Scheme introduced?

    The Postal Life Insurance (PLI) scheme was introduced in India in 1884, under the British rule. This makes it the oldest insurance provider in India

  13. I am an employee in a private sector enterprise. Can I avail this policy?

    No, salaried individuals in the private sector are not eligible to avail the Postal Life Insurance policy.

  14. work in a government aided organization and my husband works in the private sector. Can be both jointly avail the PLI scheme?

    Yes, A government employee and spouse can jointly get a PLI policy under the “Yugal Suraksha” scheme. An additional premium will have to be paid in order to cover the two individuals under this assurance policy.

  15. What is the minimum age limit for entry?

    The minimum age limit for entry is 19 years.

  16. What is the maximum age limit for entry?

    The maximum age limit for entry is 55 years.

  17. Where can I find my PLI policy number?

    Your PLI policy number will be available in the policy document/ bond. This is a 6 digit number which is required for all future transactions, including payment of premium.

  18. Can I pay the Postal life insurance premium online?

    Yes, you can pay the Postal Life Insurance policy premium online or via ECS (Electronic Clearance System).

  19. What is the loan limit available on a Whole Life Assurance?

    Based on how long the policy has been held, the surrender value of the loan is set. This is explained in the table below:

    Completed Policy Period Surrender Value (in %) on which the loan will be admissible
    Above 4 years and up to 7 years 60.00%
    Above 7 years and up to 12 years 80%
    Above 12 years 90.00%
  20. What is the loan limit available on Endowment Assurance and Convertible Whole Life Assurance?

    Based on how long the policy has been held, the surrender value of the loan is set. This is explained in the table below:

    Period for which the Policy has been held Surrender Value (in %) on which the loan will be admissible
    Above 3 years and up to 5 years 60%
    Above 5 years and up to 10 years 80%
    Above 10 years 90%
  21. What is the interest on loan availed against the policy?

    The interest on loan availed against the PLI policy is 10% per annum. This is calculated based on a 6 month period.

Read More about Postal Life Insurance

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Postal Life Insurance Bonus Rates
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Postal Life Insurance Interest Rate on Loan
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Rural Postal Life Insurance
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News About Postal Life Insurance

  • Postal department to create a separate unit for life insurance

    The postal department plans to create a separate unit for life insurance and rural life insurance. A cabinet note has been circulated to turn the functions into a separate business unit (SBU).

    Communications minister Manoj Sinha stated that the cabinet note has been moved regarding the decision. He added that the first phase will involve the formation of an SBU, and a full-fledged insurance company will be formed in the second phase. The announcement was made during India Post Payments Bank's (IPPB) second-anniversary celebration.

    The cabinet approval is expected to come by the next fortnight according to the communications minister. He stated that around 1.26 lakh access points have been rolled out by IPPB in the last 5 months and the number is expected to rise to 1.36 lakh in the next week.

    Currently, the postal department offers one of the oldest life insurance policies which was introduced in 1884. The rural life insurance scheme was introduced in 1995.

    5 February 2019

  • All About Postal Life Insurance

    The concept of a postal life insurance (PLI) policy is very similar to a typical life insurance company providing a comprehensive life cover with death and maturity benefits. The only difference in this case is that in PLI the post offices are the ones that handle purchase of policies, settlement of claims, and so on.

    The eligibility for postal life insurance policies was gravely restricted in the earlier days, however, in order to stay at par with other insurers, this law has been modified. The law was changed to provide this sector with a certain competitive edge that they earlier lacked. In addition to this, post offices offer traditional life insurance policies only, and not ULIPs or term insurance policies. Apart from single life covers, Postal Life Insurance is also controlling and managing a Group Insurance scheme for the Extra Departmental Employees (Gramin Dak Sevaks) belonging to the Department of Posts.

    At present, India has six multiple kinds of postal life insurance policies:

    Suraksha (Whole Life Assurance)

    Santosh (Endowment Assurance)

    Suvidha (Convertible Whole Life Assurance)

    Sumangal (Anticipated Endowment Assurance)

    Yugal Suraksha (Joint Life Assurance)

    Bal Jeevan Bima (Children Policy)

    Eligibility Criteria for Postal Life Insurance - The following employees will be eligible for the PLI policies:

    Central Government employees

    Paramilitary forces

    Defense services

    Local bodies

    State Government employees

    Financial institutions

    Public sector undertakings (PSUs)

    Autonomous bodies

    Local bodies

    Reserve Bank of India

    Nationalised banks

    Extra departmental agents in departmental posts

    All scheduled commercial banks’ employees

    Employees of credit co-operative societies, SBI, RBI, NABARD, and so on.

    25 October 2018

  • Things you need to know about postal life insurance

    Postal Life Insurance (PLI) is one of the oldest life insurance plans that were made available to Indian citizens. This covers the employees of the state and central governments, public sector undertakings, educational institutions that are aided by the government, local bodies, universities, autonomous bodies, nationalised banks, and joint ventures that have 10% government/PSU stake. Life insurance is also extended to personnel of the para-military forces and staff of the defence services.

    PLI consists of 6 endowment insurance policies. This includes a whole life insurance plan, a convertible whole life plan, a money-back policy, an endowment plan, a child plan, and a joint life plan. However, there are no term insurance plans or pension plans offered under PLI.

    17 October 2018

  • Deficiencies in Postal Insurance Management Flagged by CAG

    The Comptroller and Auditor General of India (CAG) recently pointed out deficiencies which are present in the management of Rural PLI funds and postal life insurance (PLI). The CAG identified problems such as wrong assessment of investable assets and investment delays which, it claims, have resulted in losses worth Rs 984 crore under returns.

    The report which was submitted in the Parliament mentioned that ‘’audit of Management of Investment of Insurance Fund of PLI and RPLI was conducted during January and February 2016 covering the period from 2009-10 to 2014-15. Eleven postal circles, comprising of 56 head post offices were selected for scrutiny." The audit has been carried out by CAG with the purpose of ensuring that there is no discrepancy in the collection, accounting and investment of Insurance funds.

    29 November 2016

  • Postal life insurance to be updated

    The Kozhikode Postal Division has requested the policy holders in Kozhikode and Wayanad to update their policies before 10th March, 2016. This is being done as the life insurance has been made online across India. The press release said that the policyholders must approach the nearest post office along with their premium pass books to update their accounts.

    22 February 2016

  • Post offices to provide efficient services

    The Post Master-General office at Kurnool has constituted a special monitoring committee to effectively monitor and ensure hassle free operations of various wings of post office. The committee would contain teams that keep a track of how various department in post office work. This would include speed post, mail delivery done via head post offices, Railway Mail Service (RMS) offices, McCamish system used for rural postal life insurance and post life insurance etc.

    As per the announcement, an amount of Rs. 50 lakh has been sanctioned for maintaining civil and electrical works at post offices and post office buildings. Besides, there is also a plan to upgrade all offices by providing required infrastructure and computers. The main purpose of this is to give these building a modern look. Also, priority will be given to keep these post offices clean along with providing efficient services. So far, delivery via speed post has improved by 93%.

    18 December 2015

  • Department of post aims to leverage the e-commerce boom

    Cashing in on the boom of the e-commerce industry, the postal department of the country has a host of new technologically advanced products to be rolled soon. Aggressive promotion of mobile money orders, savings bank accounts, postal life insurance and speed delivery of posts are some of the main focuses of the Department of Posts.

    In the Kurnool region, all maturity and death claims related to postal life insurance and rural postal life insurance have been settled and there are no more pending claims. Right now Kurnool and Tirupati sorting hubs are being utilized to route speed post and articles booked and the efficiency of the same is to be improved to 95% by January 2016.

    23 November 2015

  • Mela conducted in Imphal for Rural Postal Life Insurance

    In Namdilong Church at Kanglatombi a team of post offices conducted a mela to provide benefits of Rural Postal Life Insurance to the people. The chief guest for the mela was the Director (Posts) Vinod Kumar and he said that insurance should be treated as an investment to take care of financial needs of the future even in the absence of the bread winner.

    The post office offers different schemes for the public including the Pradhan Mantri Suraksha Bima Yojna, Pradahan Mantri Jeewan Jyoti Yojna, Sukanya Samridhi Yojna, etc.

    5 October 2015

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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Postal Life Insurance Plans Reviews

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  • LIC Life Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have too many of policies with LIC and its good. The benefits are good and well explained by the agent. The payment mode is ECS and am getting the statements and notification through SMS. Even the agent is doing good support and the plan was taken for future savings purpose.
    Was this review helpful? 0
    , chennai
    Reviewed on Oct 17, 2019
  • HDFC Life
    HDFC Life Life Insurance
    "Good insurer"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance on HDFC LIFE on 5 months before only. The policy is for 20 years. I am paying premium on monthly package the amount which is nominal. While getting a policy my agent has given an information about the policy details. My father has taken an insurance for me. Use to do payment through an online. It covers up to myself only.
    Was this review helpful? 0
    , amritsar
    Reviewed on Oct 17, 2019
  • LIC Life Insurance
    "Good Service"
    0.5 1.0/5 "Really Bad"
    I have taken Life Insurance policy direclty through LIC agent .I have got all the information abotu the policy very clearly through the agent.This policy is fo the tenure of 25 years and need t pay the premium once in 3 months .I am paying the premium through cheque it will be given to the agent .
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    , ahmedabad
    Reviewed on Oct 17, 2019
  • LIC Life Insurance
    "Good Service"
    0.5 3.0/5 "Satisfactory"
    I have availed Life Insurance policy through LIC agent only.This was a Jeevan Saral Policy and the tenure is for 15 years.This was a Money Back policy and the premium is paid on ome time only and it was less .I have got my policy documents on time and got all the relevant details about the policy very clearly through the agent .
    Was this review helpful? 0
    , jalandhar
    Reviewed on Oct 16, 2019
  • LIC Life Insurance
    "Good Service"
    0.5 3.0/5 "Satisfactory"
    I have taken Life Insurace policy trough LIC agent direclty .Ths was a Money Back policy for the tenure of 20 years .I am paying the premium through online .Premium is very nominal and got all the relevant details about the policy very clearly through the agent I am paying the premium on yearly basis.
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    , mainpuri
    Reviewed on Oct 16, 2019
  • LIC Life Insurance
    "Good Service"
    0.5 5.0/5 "Blown Away!"
    I have Life Insurance policy which was taken direclty through LIC agent.This was a Jeevan Anand policy which is a Maturity benefit policy for the tenure of 20 years .The premium is paid on quarterly basis and there was no difficulties faced so far when availed this policy.I will be paying the premium through the agent.
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    , mumbai
    Reviewed on Oct 16, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in LIC on 9 years before. The policy is for 15 years. I am paying premium in the quarterly package the amount of 6 thousands which is nominal. While getting a policy my agent has given an information about the policy details. It covers myself and children. It is a jeevan anadha policy.
    Was this review helpful? 0
    , kanchipuram
    Reviewed on Oct 15, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    I have taken my life insurance policy from LIC. It was a Jeevan Umang. Its almost 150 years old which covers for 95% and the people invested in LIC is higher when i compared to others. This policy has two benefits one its a life insurance policy and other is pension covered policy. After 60 of years of age, i will get the pension.
    Was this review helpful? 0
    , vellore
    Reviewed on Oct 15, 2019
  • LIC Life Insurance
    "Medium"
    0.5 3.0/5 "Satisfactory"
    One month before I have taken a personal loan so they made to take life insurance with LIC company. On one payment need to do fully. In case if we missed to do payment or for some other reason unable to do from insurance they will claim full amount. Myself applicable for 10 lakhs but taken for 5.5 lakhs.
    Was this review helpful? 0
    , pondicherry
    Reviewed on Oct 14, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 3.0/5 "Satisfactory"
    I have taken a life insurance in LIFE INSURANCE CORPORATION OF INDIA on one year before. I am paying premium in the quarterly package for the amount of 2065 rupees.While getting a policy my agent has given an information about the policy details. It covers my mother only.
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    , pondicherry
    Reviewed on Oct 14, 2019
  • LIC Life Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I have taken Life Insurance policy through LIC agent.This is a Money back policy and this tenure is for 25 years,I am paying the premium on monthly basis.I am paying Rs.2168 and paying the premium through online only .I have got the policy documents on time .I am really satisfied with the service so far.
    Was this review helpful? 0
    , tirupur
    Reviewed on Oct 14, 2019
  • ICICI Prudential Life Insurance
    "Average"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in ICICI PRUDENTIAL on 6 months before. The policy is for 15 years. Now I am paying premium for 25 thousands rupees. While getting a policy my agent has given an information about the policy details, however there are some charges applicable.
    Was this review helpful? 0
    , saharsa
    Reviewed on Oct 14, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in LIC on 1 year before. The policy is for 20 years. I am paying premium on monthly package. While getting a policy my agent has given an information about the policy details. It covers myself. The amount will get auto debit from my account. It is jeevan anadha policy.
    Was this review helpful? 0
    , saharsa
    Reviewed on Oct 14, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 3.0/5 "Satisfactory"
    I have taken a life insurance in LIFE INSURANCE CORPORATION OF INDIA on 8 years before. The policy is for 20 years. It is a jeevan anadha policy. I am paying premium in the yearly package paying for 12 thousands. While getting a policy my agent has given an information about the policy details. It covers up to myself.
    Was this review helpful? 0
    , erode
    Reviewed on Oct 14, 2019
  • SBI Life Life Insurance
    "Fine Policy"
    0.5 5.0/5 "Blown Away!"
    My friend has suggested me a money back from SBI LIFE. I got the policy 2 years before. I have been paying the premium amount of Rs. 7000 for every six months. I make the premium through ECS. Just for the savings purpose, i bought this policy.
    Was this review helpful? 0
    , dindigul
    Reviewed on Oct 14, 2019
  • Bajaj Allianz Life Life Insurance
    "Fine Policy"
    0.5 5.0/5 "Blown Away!"
    One of my asked me to join in a Bajaj allianz life insurance policy. This is also money back policy. I pay the premium amount of Rs. 5000 and i have chosen the quarterly payment mode. I bought the policy 8 years back. Once the amount got credited to my account.
    Was this review helpful? 0
    , dindigul
    Reviewed on Oct 14, 2019
  • LIC Life Insurance
    "Excellent Policy"
    0.5 5.0/5 "Blown Away!"
    There is no reason for choosing the life insurance policy from LIC. I hold a money back policy because every 5 years, i get the full money back to my account. I have been paying the premium amount of Rs. 1500 every month. I have no idea about the sum assured amount and the policy has a term of 15 years.
    Was this review helpful? 0
    , dindigul
    Reviewed on Oct 14, 2019
  • Exide Life Insurance
    "Good term policy"
    0.5 4.0/5 "Great!"
    I have chosen the life insurance policy from Exide because its easy approved term policy which covers Rs. 30 lakhs for any type of death. Its covers for both life and accidental. I have been paying the premium amount of Rs. 10,200 and i have chosen the yearly payment mode. This policy covers upto 52 years of my age.
    Was this review helpful? 0
    , gudivada
    Reviewed on Oct 13, 2019
  • LIC Life Insurance
    "Good Service"
    0.5 3.0/5 "Satisfactory"
    I have Life Insurance policy which was directly taken through LIC agent .This policy tenure is for 15 years and i am paying the premium within 6 months .I have got all the details about the insurance policy very clearly through the agent and paying the premium through agent.I am really satisfied with the service so far.
    Was this review helpful? 0
    , erode
    Reviewed on Oct 13, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I'm getting the complete benefits in LIC. I took the life insurance policy 15 years back. I have been paying the premium amount of Rs.7000 for every six months once. They have offered me a term period of 20 years. I make the premium in their branch by cash.
    Was this review helpful? 0
    , sawai madhopur
    Reviewed on Oct 13, 2019
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