Features of Postal Life Insurance Scheme

Features of Postal Life Insurance Scheme

The postal life insurance scheme was started in the year 1884. This was meant entirely for the people working for the Posts and Telegraph Department.

According to finance guide, the postal life insurance was started as a welfare measure under the government of India. This scheme was highly popular with the employees.

This growing popularity resulted in the government extending the benefits of postal life insurance to many other departments under the centre and the state. Presently all the employees of central and state government, public sector undertakings, financial institutions, etc, enjoy the personal Insurance benefit uniformly.

A Policy Holder Is Eligible To Take A Policy For His Children Too!

Features of Postal Life Insurance

Features of Children Postal Life Insurance Policy:

  • You must be a policyholder in order to procure a policy for your child.
  • The child should be not less than 5 years of age.
  • The child should be not more than 20 years of age.
  • Minimum sum assured should not be less than Rs.20, 000 and maximum sum assured should be not more than Rs.1, 00,000
  • The sum assured of the policyholder should be more than the sum assured for his child.
  • Full benefit non-medical policy.
  • Nomination facility is available.
  • If the main policyholder dies before the maturity of the child’s policy, then no premium will be applicable.
  • These are the salient features of the children policy under postal life finance resources.

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