Postal Life Insurance (PLI)
was introduced on 1st February, 1884 with the express approval of the Secretary
of State (for India) to Her Majesty, the Queen Empress of India. It was
essentially a welfare scheme for the benefit of Postal employees in 1884 and
later extended to the employees of Telegraph Department in 1888. In 1894, PLI
extended insurance cover to female employees of P & T Department at a time
when no other insurance company covered female lives. It is the oldest life
insurer in this country.
Over the years, PLI
has grown substantially from a few hundred policies in 1884 to 42,83,302
policies as on 31.03.2010. It now covers employees of Central and State
Governments, Central and State Public Sector Undertakings, Universities,
Government aided Educational Institutions, Nationalized Banks, Local bodies
etc. PLI also extends insurance cover to the officers and staff of the Defence
services and Para-Military forces.
Apart from single insurance
policies, Postal Life Insurance also manages a Group Insurance scheme for the Extra
Departmental Employees (Gramin Dak Sevaks) of the Department of Posts. With
1,55,669 branches across the country, the Post Office is India‟s largest retail
and financial services provider and is among the most widely recognized and
trusted brands in the country, offering a wide range of products and essential
services. In India Post, the endeavor is to take advantage of our unique
position
