POSTAL LIFE INSURANCE - CHEAP AND BEST WAY OF GETTING INSURED

Postal Life Insurance Postal Life Insurance was started in 1884 as a welfare measure for the employees of Posts & Telegraphs Department. Postal Life Insurance is open for employees of all Central and State Government Departments, Nationalized Banks, Public Sector Undertakings, Financial Institutions, Local Bodies like Municipalities and Zila Parisads, Educational Institutions aided by the Government etc
Eligibility for taking a Postal Life Insurance Policy
· Age:Between 19 and 50 years as on next birth date of the proponent
· Employees of Central and State Governments, Defence Services
· Extra Departmental Agents and industrial and work-charged employees in the
Department of Posts and Telecommunications.
· Govt. aided Educational Institutions, Universities established by Government Local bodies
like Municipalities, Zila Parisad, Mahanagar Palika
· All nationalized banks,RBI, SBI Subsidiaries
· State and Central Govt. Undertakings, corporations, boards, organizations and financial
institutions like UTI, IDBI, ISRO, KPTCL, KSRTC, SAIL, VSNL ,BSNL,MTNL etc.

Benefits
· 100% security by Government of India
Income Tax Rebate under Sec. 88.
Low Premium.
High Bonus.
· Options for Loan, Assignment, Surrender, Conversion and Paid Up Value.
· Repayment of Loan is optional. However interest is payable every 6 months.
Easy transfer to any place in India free of cost.
· Pass book facility for payment of premia & other payments like loan, interest through any Departmental Post Office.
· Pay recovery facility for Institutions and Organizations having more than 20 policies.
· Facility for payment of premia monthly, half yearly and annually on any working day of the month for which it is due.
Rebate @ 1% for payment of 6 months premia in advance.
Rebate @ 2% for payment of 12 months premia in advance.
Nomination facility.
· Facility for revival of policies lapsed due to non-payment of premium.
· Payment of policy money through any Post Office, anywhere in India.
Centralized accounting for quick and easy settlement of claims through fully computerized office management.
For more details on Postal Life insurance visit www.indiapost.gov.in
Tips
Postal Life Insurance is best for Govt , Semi Govt employees who will benefit from low premiums and good returns. There are a number of schemes enlisted on the website.
Postal Department is as effcient as a private sector insurance company .