All the Government Employees-Postal Life Insurance is here |
Posted: March 24, 2017 |
Overview Being a government employee was once considered a privilege. Didn’t we all have that one relative who was a government employee and we felt everything came easy to them. That’s not exactly true, as they are more worked up then us and even though they are not well paid. They do have certain privileges that the rest of us can never avail. One of them being the very famous Postal Life Insurance. A scheme started by government that covers a lot of departments, central, state governments, nationalized banks, public sector undertakings, financial institutions, local bodies and educational institutions. The history of which dates back to the time when the Britishers used to rule India, in 1884. The Queen Empress of India, with an express approval from the Secretary of State (India) introduced the Postal Life Insurance (PLI) that signified protection towards the employees of the postal department. What started out as an insurance only for the postal department extended to the telegraph and telephone department as well. To add to which, the maximum amount that could be insured back then was Rs.4000/- today it is 10 lakhs. Let’s take into account one of the life insurances and look at the figures involved with it. Below are the details for Whole Life Insurance (Suraksha)
Why to buy? As with most investments that are subsidized by the government, the insurer can avail tax benefits and one can claim income tax returns. The policy holder can nominate a beneficiary who will be at the receiving and of all the benefits once the policy holder passes away accidentally or due to some sort of mishap or natural causes. There is also a loan facility available against this policy, which will be very useful for people who plan on making big purchases and taking a certain loan against it. Features and Benefits
Eligibility To opt for postal life insurance, rural life insurance one must be eligible for the same by enrolling in at least one of the government services, so that you are automatically entitled to be a recipient to these services. Visit our website at policy bazaar and get a detailed list as to which are the possible ways one can opt for any of these life insurances. Also look out for postal life insurance premium table in order to get a detailed breakup of the premium amount one will have to pay. Inclusions Anyone in the above mentioned government services can opt for this insurance, you can use it get income tax deductions and most importantly you can switch over, opt out or take a loan against this insurance. Exclusions People who are not related directly working with the listed government agencies or are a government employee of some sorts are barred from having a Postal Life Insurance. Documents Required General documents stating your address proof, identity proof and obviously documents showcasing you are a government employee are very important to get the work done. Claim Process In the event of a mishap or some kind of incident one has to simply notify the authorities and make them deposit the promised amount into the nominees account. Certain formalities such as death certificate, identity proof and a few other things will be required.
To know more about these steps please connect with any of our representatives at policy bazaar. They will walk you through all the details and ensure that all your doubts regarding postal life insurance or rural life insurance shall be cleared. Do look up for postal life insurance plans in Hindi, postal life insurance bonus or postal life insurance for government employees, army postal life insurance and my PLI policy no on the internet to get complete information. Visit a government office to get a complete idea and understand exactly what these schemes have to offer.
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