Postal Dept makes its presence known in Life Insurance business along with Mail business

Usually Postal Department is known for handling of letters, but Postal Department is also working in the field of Life Insurance for a long time. Postal Department is continuously achieving new milestones in the field of Life Insurance. Recently the maximum sum assured limit under Postal Life Insurance has been raised to 50 lakh from 20 lakh.

Mr. Krishna Kumar Yadav, Director Postal Services, Allahabad Region said that during the current financial year Postal Department has issued insurance policies to people worth rupees  1 billion 62 crore in Allahabad Postal Region. Which includes Postal Life Insurance of rupees 1 billion 5 crore and Rural Postal Life Insurance of rupees 57 crore. Mr. Yadav said that Postal Department is dedicated to provide better services to the people in rural areas.  To ensure maximum coverage, villages are being identified in rural areas of all Postal Divisions and they are covered as Postal Life Insurance Village. Whereas in cities important organizations are being identified as Postal Life Insurance Organizations.

Director Postal Services, Allahabad Region, Mr. Krishna Kumar Yadav, told that along with distribution of letters Postal Department has been working for a long time in the fields of Life Insurance and Saving Bank. Started on 1 February, 1884, Postal Life Insurance is India’s oldest insurance service. Postal Department has also introduced Rural Postal Life Insurance in 1995, for people in rural areas. Postal Life Insurance offers six schemes- ‘Suraksha’, ‘Santosh’, ‘Suwidha’, ‘Yugal Suraksha’, ‘Sumangal’, and Children Policy. Under this scheme employees of only government, semi-government and government owned institutions are eligible.