Indian Post Office: FAQ on Postal Life Insurance policies.. Part - 1


Question: What is PLI (Postal Life Insurance) ?

Answer:  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.

Question: When did PLI start?

Answer PLI as a scheme is available since 01.02.1884.

Question:. What is the difference between PLI and other Insurance?

Answer PLI is only for Government and Semi-Government employees. Moreover PLI is the only Insurer that offers
low premium and high bonus.

Question: Is PLI guaranteed? If so, by whom?

Answer PLI is guaranteed by Government of India.

Question: Is there any limit to the number of policies one can take for children?

Answer. One can take policies for two children.

Question:. 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?

Answer 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.

Question: How can a policy be transferred from one PO to other?

Answer; 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).

Question: Which type of PLI policy among your scheme is more beneficial to opt for without hesitation?

Answer: 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.

Question:. Who are eligible for obtaining a PLI Policy?

Answer: The employees of following are eligible for PLI policy:

      Central Government
      Defense Services
      Para Military Forces
      State Government
      Local Bodies
      Educational Institutions/ Government-aided
      Reserve Bank of India
      Public Sector Undertakings
      Financial Institutions
      Nationalized Banks
      Autonomous Bodies
      Extra Departmental Agents in Department of Posts
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