During National Postal Week 15 October, 2013 was celebrated as Postal Life Insurance day. On this occasion Postal Life Insurance Melas were organized in Government/Semi Government offices of Allahabad Region.
On this occasion Mr. Krishna Kumar Yadav, Director Postal Services, Allahabad Region said the Postal Department is serving the public with its savings bank and postal life insurance schemes along with the delivery of the letters. Postal life insurance was started with effect from 01 February 1884 for Central Government/State Government officials, Defence personnel, officials of Govt. Institutions, Municipal Corporation and boards, Government Universities, employees of Nationalized Banks, additional bodies of State Banks of India and Reserve Bank, operational units under Central/State government, UTI, IDBI and employees of state insurance corporation.
Director Mr. Yadav added that there are 6 schemes of Postal Life Insurance such as Suraksha, Santosh, Suvidha, Yugal Suraksha, Sumangal and Children policy. Rural Postal Life Insurance Scheme for the benefits of villagers also have Gram Santosh, Gram Suraksha, Gram Suvidha, Gram Sumangal, Gram Priya and Children policy. He said that the minimum and maximum age limit of the postal life insurance scheme is fixed for 19 years and 55 years respectively whereas maximum age limit for 15 years and 20 years Sumangal scheme are prescribed for 45 and 40 years respectively.
Discussing the benefits of the postal life insurance Director Postal Services Mr. Krishna Kumar Yadav told that Government is bound for 100% security of investor's investment, relaxation in income tax under section 88, low premium and high bonus, loan benefit on the policies, deposit of premium at any post office in the country and rebate of 1% & 2% on advance premium of 6 months and 12 months respectively.
Director Mr. Krishna Kumar Yadav told that Allahabad Region has done business in insurance of more than one billion in this financial year, which includes 53 crore in Postal Life insurance and 48 crores in Rural Postal Life Insurance. Mr. Yadav further added that to insured more people, 15 villages are being selected in each division to cover under Rural Postal Life Insurance, where as for urban area important Government department to be covered under Postal Life insurance Sangathan.
(Pl also read this news at Times of India, 16 Oct. 2013)