Insurance is 124 years young. It was started on February 1, 1884
as a welfare measure for the employees of Posts & Telegraphs
Department under Government of India dispatch No. 299 dated
18-10-1882 to the Secretary of State. 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 Parishads, Educational Institutions
aided by the Government etc.
Postal Life Insurance
On 24th March,
1995, the benefits of Postal Life Insurance were extended to
rural populace of the country under the banner of Rural Postal
Age between 19 and 50 years as on next
birth date of the proponent
Employees of :
Central and State Governments, Defence
Government aided Educational
Universities established by Government
Local bodies like Municipalities
nationalized banks, RBI and SBI Subsidiaries
and Central Government Undertakings, Corporations, Boards
institutions like UTI, IDBI, etc.
Employees State Insurance Corporation
Provident Fund Organisation
100% security by Government of India
Tax Rebate under Sec. 88.
Options for Loan, Assignment, Surrender, Conversion
and Paid Up Value.
Repayment of Loan
is optional. However
interest is payable every 6 months.
transfer to any place in India free of cost.
Pass book facility for payment of premia & other
payments like loan, interest
through any Departmental Post Office.
Pay recovery facility for Institutions and
Organizations having more than 20 policies.
Facility for payment of premia monthly, half
yearly and annually on any working day
of the month
which it is due.
@ 1% for payment of 6
months premia in advance.
@ 2% for payment of 12 months premia in advance.
Facility for revival of policies lapsed due to non-payment of premium.
Payment of policy money through any Post Office,
anywhere in India.
accounting for quick and easy settlement of claims
Facility of payment of premium by cheque when the amount is
Rs.20/- or more.