Postal Life Insurance was started in 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 Parisads, Educational Institutions aided by the Government etc

Rural 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 Life Insurance.

SANTOSH (ENDOWMENT ASSURANCE)
An Endowment Assurance Scheme

Under this scheme the proponent is given an assurance to the extent of the Sum Assured and accrued bonus till he/she attains the pre-determined age of maturity. In case of unexpected death of the insurant, the assignee, nominee or the legal heir is paid the full Sum Assured together with the accrued bonus.

* Minimum Age at entry is 19 years
* Maximum Age at entry is 55 years
* Premium ceasing at the age of 35, 40, 45, 50, 55, 58 & 60
  ( Payment of premia for at least 5 years )
* Maximum Sum Assured of Rs.10 lac
* Insurance Cover starts from the date of acceptance
* Eligible for loan after payment of premia for 36 months.
* Interest Rate @ 10% on loan
* Surrender allowed after payment of premia for 36 months
* Assignment facility available
* Can be converted into Suraksha (Whole Life Assurance )
* No medical examination required if age is 35 years or less and Sum Assured
  is not more   than Rs. 1 lac.
* Nomination facility is available 

SURAKSHA (WHOLE LIFE ASSURANCE )
A Whole Life Assurance Scheme

• Minimum Age at entry is 19 years
• Maximum Age at entry is 55 years
• Premia ceasing at the age of 55, 58, 60. ( Minimum payment of premia for 5 years)
• Maturity amount is payable only to the Assignee, nominee or the legal heir after death of the insurant. Maximum sum assured is Rs. 10 lac
• Insurance cover starts from the date of acceptance of proposal to the extent of sum assured with accrued bonus
• Bonus shall accrue till the date of death.
• Higher bonus and lower premia than the Endowment Policy
• Eligible for loan after payment of premia for 48 months
• Surrender of policy allowed after payment of premia for 36 months
• Assignment facility available
• The policy can be converted into an Endowment Assurance Policy after completion of one year and before 57 years of age of the insurant
• Nomination facility available

SUVIDHA ( CONVERTIBLE WHOLE LIFE ASSURANCE )

A convertible Whole Life Assurance Scheme

• Minimum Age at entry is 19 years
• Maximum Age at entry is 55 years
• Insurance cover starts from the date of acceptance
• Suvidha can be converted into Santosh after five years
• Maximum sum assured is Rs. 10 lac
• Maturity at the age of 50, 55 or 58 years after conversion.
• On conversion, premia & terms will be revised accordingly
• Bonus due on the Policy will also change as applicable to Santosh Policy on conversion
• Loan facility after 4 years
• Surrender Value payable after 3 years
• Assignment facility available
• Nomination facility available

Most convenient policy for Income tax payers and new entrants to service, who can plan their savings keeping in view the increase in tax liability and the increase in their earnings over a period of 5 years…

SUMANGAL ( ANTICIPATED ENDOWMENT ASSURANCE )
An Anticipated Endowment Assurance Scheme which is also known as Money Back Policy.
Insurance cover starts from the date of acceptance of the Proposal

• Survival benefits is paid to the insurant periodically (Such payments will not be taken into consideration in the event of unexpected death of the insurant and the full sum assured with accrued bonus is payable to the assignee, nominee or legal heir).
• Two type of policies i.e. 15 year term and 20 year term.

  In case of 15 years term policy the minimum Age at entry is 19 years and maximum Age at entry is 45 years.
  In case of 20 years term policy the minimum Age at entry is 19 years and maximum Age at entry is 40 years.
                  Maximum Sum assured is Rs.5 lac
                  No loan facility
                  No surrender value is payable
                  Assignment facility is available
                  Nomination facility available
                  Survival benefit is payable as under:
                    15 years 20 years

• at the end of 6 years             8 years     20% of sum assured
• at the end of 9 years           12 years     20% of sum assured
• at the end of 12 years         16 years     20% of sum assured
• at the end of 15 years         20 years     40% of sum assured with bonus

Best suited if you need Periodical Returns

YUGAL SURAKSHA ( JOINT LIFE ENDOWMENT ASSURANCE )

Postal Life Insurance - Yugal Suraksha

• It is a joint-life Endowment Assurance in which one of the spouses is eligible for PLI policies
• Life insurance coverage is provided to both the spouses to the extent of sum assured with accrued bonus from the date of acceptance of proposal
• Insurance cover is started from the date of acceptance
• It is a term policy of 5 to 20 years.
• It gives assurance to both, the Insurant and spouse
• Minimum Age at entry is 21 years
• Maximum Age at entry is 45 years
• Maximum sum assured of Rs. 5 lac
• Surrender value payable after 3 years
• Assignment facility available
• Nomination facility available
• Loan facility is available.

CHILDREN POLICY

CHILDREN POLICY-SALIENT FEATURES

   A Policy holder of WLA or EA in PLI/RPLI shall be eligible for taking such Policy for his/her child(ren) against        his/her policy.
   Minimum Age-5 Years.
   Maximum Age- 20 Years   (The age of main policy holders should be below 45 years.)
   Sum Assured limit Minimum- Rs. 20,000/- Maximum- Rs. 1,00,000/-. However, the Sum Assured of       Children policy should not exceed the Sum Assured of the main policy. 
   Insurance Cover starts from Date of acceptance of the proposal or payment of the Ist premia in full, which       ever is later.   
   A non-medical policy with full benefits.
   Assignment/Nomination facility available, as per POIF Rules.
   No loan facility against this policy, but can be made paid up in usual conditions to main policy provided       atleast 5 Years premia have been paid. 
   Sum Assured alongwith accrued bonus shall be payable on maturity or earliesr on death of the Child(ren).
   In even of death of main policy holder before the expiry of the Children Policy- no further premia shall be       payable for the remaining term of the policy.

CHILDREN POLICY PREMIA FOR SUM ASSURED OF Rs. 1000/-

Rural Postal Life Insurance Schemes

GRAM SANTOSH ( ENDOWMENT ASSURANCE )

An Endowment Assurance Scheme

Under this scheme the proponent is given an assurance to the extent of the Sum Assured and accrued bonus till he/she attains the pre-determined age of maturity.
In case of unexpected death of the insurant, the assignee, nominee or the legal heir is paid the full Sum Assured together with the accrued bonus.

* Minimum Age at entry is 19 years.
* Maximum Age at entry is 55 years and for policies with sum assured beyond Rs.1 lakh      maximum age at entry is  45 years
* Premium ceasing at the age of 35, 40, 45, 50, 55, 58 & 60
     ( Payment of premia for at least 5 years )
* Maximum Sum Assured of Rs.2 lac
* Insurance Cover starts from the date of acceptance
* Eligible for loan after payment of premia for 36 months.
* Interest Rate @ 10% on loan
* Surrender allowed after payment of premia for 36 months
* Assignment facility available
* Can be converted into Suraksha (Whole Life Assurance )
* No medical examination required if age is 35 years or less and Sum Assured
      is not more   than Rs.25000/.
* Nomination facility is available

GRAM SURAKSHA (WHOLE LIFE ASSURANCE )

It is a Whole Life Assurance Scheme.
Under this scheme, the proponent is given an assurance to the extent of sum assured and accrued bonus which is paid to the assignee, nominee or legal heir after the death of the insurant.

• Insurance cover starts from the date of acceptance
• Minimum Age at entry is 19 years
• Maximum Age at entry is 55  years and for policies with sum assured beyond Rs.1 lakh maximum age at entry is 45 years
• Premium ceasing at the age of 55, 58 & 60
• Maximum sum assured is Rs. 2 lac 
• Eligible for loan after payment of premia for 48 months.
• Interest rate @ 10% on loan
• Surrender of policy allowed after payment of premia for 36 months
• Assignment facility available
• Can be converted into Gram Santosh (Endowment Assurance)
• Nomination facility available

GRAM SUVIDHA ( CONVERTIBLE WHOLE LIFE ASSURANCE )

A Convertible Whole Life Assurance Scheme.

• Insurance cover starts from the date of acceptance
• Minimum age at entry is 19 years
• Maximum age at entry is 55 years
• Premia ceasing at the age of  55, 58 & 60
• (Payment of premia for at least 5 years )
• Maximum sum assured Rs. 1 lac
• Eligible for loan after payment of premia for 48 months
• Interest on loan @ 10 %
• Surrender of Policy allowed after payment of premia for 36 months
• Assignment facility available
• Can be converted into Gram Santosh 
  (Endowment Assurance after 5 years with premia ceasing at the age applicable to that Scheme )
• Nomination facility available.

GRAM SUMANGAL ( ANTICIPATED ENDOWMENT ASSURANCE )

An Anticipated Endowment Assurance Scheme which is also known as Money Back Policy

• Insurance cover starts from the date of acceptance of the proposal.
• Survival benefit is paid to the insurant periodically

(Such payments will not be taken into consideration in the event of unexpected death of the insurant and full sum assured with accrued bonus is payable to the nominee).

• Two type of policies i.e. 15 years term and 20 years term.
• Minimum age at entry is 19 years and maximum age at entry is 40 years
• Maximum sum assured is Rs.1 lac.
• No loan facility
• No surrender value is payable
• Nomination facility is available.
• Assignment facility is available.
• Survival benefit is payable as under:

                            15 years       20 years

• at the end of 6 years          8 years 20% of Sum Assured
• at the end of 9 years         12 years 20% of Sum Assured
• at the end of 12 years       16 years 20% of Sum Assured
• at the end of 15 years       20 years 40% of Sum Assured              With bonus

GRAM PRIYA ( 10 YEARS RPLI )

It is Anticipated Endowment Scheme for Ten Years
- Insurance cover start from the date of acceptance

• Proponent is given an assurance to the extent of Sum Assured with accrued bonus payable till completion of ten years.
• Minimum Age at entry is 19 year
• Maximum Age at entry is 45 year
• No interest charged upto one year arrear of premia in case of natural calamities like flood, drought, earthquake, cyclone etc.
• Survival benefit is payable as under:

·  At the end of 4 years - 20%
·  At the end of 7 years - 20%
·  At the end of 10 years - 60% with accrued bonus

• Nomination facility is available
• No surrender value is payable
• Assignment facility is available
• No loan is admissible.

CHILDREN POLICY

CHILDREN POLICY-SALIENT FEATURES

   A Policy holder of WLA or EA in PLI/RPLI shall be eligible for taking such Policy for his/her child(ren) against      his/her policy.
   Minimum Age-5 Years.
   Maximum Age- 20 Years   (The age of main policy holders should be below 45 years.)
   Sum Assured limit Minimum- Rs. 20,000/- Maximum- Rs. 1,00,000/-. However, the Sum Assured of      Children policy should not exceed the Sum Assured of the main policy.
   Insurance Cover starts from Date of acceptance of the proposal or payment of the Ist premia in full, which      ever is later.
   A non-medical policy with full benefits.
   Assignment/Nomination facility available, as per POIF Rules.
   No loan facility against this policy, but can be made paid up in usual conditions to main policy provided      atleast 5 Years premia have been paid.
   Sum Assured alongwith accrued bonus shall be payable on maturity or earliesr on death of the Child(ren).
   In even of death of main policy holder before the expiry of the Children Policy- no further premia shall be      payable for the remaining term of the policy.

CHILDREN POLICY PREMIA FOR SUM ASSURED OF Rs. 1000/-