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Postal Life Insurance

About Postal Life Insurance

  • 1. What is PLI?
    A contract entered into by the Government to pay a given sum of money on the death of an individual to his nominee or himself, if he survives that period.
  • 2. When did PLI start?
    PLI as a scheme is available since 01.02.1884.
  • 3. What is the difference between PLI and other Insurance?
    PLI is only for Government and Semi-Government employees. Moreover PLI is the only Insurer that offers
    low premium and high bonus.
  • 4. Is PLI guaranteed? If so, by whom?
    PLI is guaranteed by Government of India.
  • 5. Is there any limit to the number of policies one can take for children?
    One can take policies for two children.
  • 6. What is the necessity of sending the PLI Policy Bond to office address of the Insurant? Why can this not be sent to the residence of Policy holder?
    PLI policy is issued to people who are employed under Government/Semi-Government sector etc. That
    is why the policy bond is sent to the Office address of the Insurant.
  • 7. How can a policy be transferred from one PO to other?
    The system of transfer of PLI policy is very simple. The policy holder can apply to the Chief Post Master General through the Post Office where the policy stands or the PO in which he desires to pay the premium. The PO will accept the application and send to the CPMG (PLI).
  • 8. Which type of PLI policy among your scheme is more beneficial to opt for without hesitation?
    All policies in PLI are beneficial. Every scheme has some unique features. In EA policy, you will get your savings along with bonus after the prescribed number of years.
  • 9. Who are eligible for obtaining a PLI Policy?
    The employees of following are eligible for PLI 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 an 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 institutes accredited by recognized bodies such a National Assessment and Accreditation council, All India Council of Technical Education,Medical council of india etc
Last Updated:06 Feb 2024