Rural Postal Life Insurance

Welcome to postal life insurance. The prime focus of the scheme is on weaker sections and women workers as recommended by the malhotra committee.

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It started as a welfare scheme for the benefit of postal employees and was later extended to the employees of the telegraph department in 1888.

Rural postal life insurance. Rural postal life insurance rpli came into being as a sequel to the recommendations of the official committee for reforms in the insurance sector malhotra committee. Insurance plans in rpli. The idea of postal insurance makes life insurance easily accessible and low cost in terms of the operations.

Rpli or rural postal life insurance was a sequel to the recommendations to the official committee for reforms. A traditional endowment plan that provides a guaranteed sum assured and accrued bonuses on a pre determined age of maturity e at 354045505558 60 years of age. Rural postal life insurance scheme was introduced in the year 1995 with a view to offering life protection to the larger population of rural india at minimal premium rates.

With a strong network of post offices in urban as well as rural areas rural postal life insurance was set to succeed. The committee had observed in 1993 that only 22 of the insurable population in this country had been insured. Postal life insurance was introduced on 1st february 1884.

Rural postal life insurance plan endowment assurance gram santosh rural postal life insurance offers an endowment assurance policy with the following features and benefits. Rural postal life insurance. In 1993 mr malhotra former governor of rbi committee noticed that only 22 of the insurable population in india are insured and life insurance funds were only 10 of the household savings.

Also the cost expected to be incurred for operations came down drastically because of use of existing network of post offices. Rural postal life insurance rpli scheme was introduced in 1995 for the benefit of rural populace to extend insurance cover to people living in rural areas with special emphasis on weaker sections and women workers as a result of the recommendation of the official committee for reforms in the insurance sector malhotra committee. Life insurance funds accounted for only 10 of the gross household savings.

So the committee came up with below recommendations. With 154939 branches across the country india post has presence in the most remote areas of the country offering a wide range of products and essential services providing life cover is part of this mix of services provided by the department. Rural postal life insurance policies can be beneficial to people living in rural areas where there is lack of awareness of life insurance products and less penetration of insurance too.

The government understood the need for insurance to reach the rural areas and decided to extend the coverage of life insurance to the rural areas via the post office from 24 th march 1995 as the post office has a vast network and the cost of operations are low.

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