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Postal Life Insurance in India: A Comprehensive Guide to Schemes, Benefits, and Procedures

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  • Post published:November 24, 2023
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Postal Life Insurance (PLI) in India

Life insurance is a crucial financial tool that safeguards the financial well-being of an individual’s dependents in the unfortunate event of their demise. In addition to traditional financial institutions, India Post offers an extensive range of life insurance policies under the Postal Life Insurance (PLI) scheme. This article explores the history, features, types, eligibility, benefits, and procedures associated with the Postal Life Insurance scheme.

Postal Life Insurance Scheme Overview:

Established on 1st February 1884, the Postal Life Insurance scheme was initially a welfare initiative for Post Office employees. Over time, its scope expanded to include employees from various sectors, such as state and central government departments, defence personnel, paramilitary services, educational institutions, and more.

Features of Postal Life Insurance Policy:

  1. High Returns and Low Premiums: PLI offers attractive returns on insurance and high bonus rates at affordable premium rates.
  2. Nomination Flexibility: Policyholders can appoint a nominee and modify nominee information during the policy tenure.
  3. Loan Facility: PLI holders can avail of a loan against the policy after a specified period.
  4. Policy Conversion: Conversion to an Endowment Assurance Policy is permissible, following department guidelines.
  5. Document Replacement: Hassle-free issuance of duplicate documents in case of loss, damage, or mutilation of the policy document.
  6. Premium Tracking: A passbook facility is provided by India Post for easy tracking of premium payments.

Types of Postal Life Insurance Schemes:

  1. Whole Life Assurance (Suraksha Scheme):

    • The insured amount is paid upon attaining 80 years or on the insured’s demise.
    • Minimum and maximum sum assured: Rs.20,000 to Rs.50 lakhs.
  2. Endowment Assurance (Santosh Scheme):

    • The sum and bonus are paid on maturity or to the nominee on the insured’s death.
    • Loan facility available after 3 years.
  3. Anticipated Endowment Assurance (Sumangal Scheme):

    • A money-back policy with periodic survival benefits.
    • Term options: 15 and 20 years.
  4. Convertible Whole Life Assurance (Suvidha Scheme):

    • The assured sum and bonus are paid on maturity or to the nominee on death.
    • Conversion to Endowment Assurance policy allowed after 5 years.
  5. Joint Life Assurance (Yugal Suraksha Scheme):

    • Joint policy covering spouses with benefits payable to the surviving spouse.
  6. Children Policy (Bal Jeevan Bima):

    • Coverage for policyholder’s children.
    • Sum assured and bonus paid on policy completion if the parent dies.

Postal Life Insurance Eligibility:

Employees of central and state government organizations, defence personnel, paramilitary forces, PSUs, banks, educational institutions, local bodies, and professionals are eligible to avail of PLI schemes.

Postal Life Insurance Scheme Bonus (for the financial year 2023-2024):

  • Whole Life Assurance: Rs. 76 per 1000 Sum Assured.
  • Endowment Assurance: Rs. 52 per 1000 SA.
  • Anticipated Endowment Assurance: Rs. 48 per 1000 SA.
  • Convertible Whole Life Assurance: Rs. 76 per 1000 SA.
  • Joint Life Assurance: Rs. 52 per 1000 SA.
  • Children Policy: Rs. 52 per 1000 SA.

Postal Life Insurance Benefits:

  • Death Benefit: In the unfortunate event of the policyholder’s demise, the nominee receives the sum assured and bonuses, if any, ensuring financial stability for the family.
  • Maturity Benefit: Upon the policy’s maturity, the insured receives the sum assured and accrued bonuses. This provides a lump sum amount that can be used for various purposes such as education, marriage, or retirement planning.
  • Surrender Value: If needed, policyholders can surrender their policy and receive the surrender value. This can be a useful option in case of financial emergencies.
  • Loan Facility: PLI policies offer the option to take a loan against the policy’s surrender value, providing liquidity when required.

How to Avail Postal Life Insurance?

Availing a Postal Life Insurance policy involves a straightforward process. Interested individuals can visit their nearest post office and inquire about the plans. The postal department provides detailed information about the various plans, premium amounts, and other relevant details.

To apply for a PLI policy, applicants must fill out the required forms and submit documents such as identity proof, address proof, and a passport-sized photograph. Once the application is processed, the policyholder is issued a policy document with all the terms and conditions.

Postal Life Insurance Login:

To access Postal Life Insurance for the first time, register on India Post’s Customer Portal:

  1. Visit the official website.
  2. Click ‘Register’ > ‘Retail’.
  3. Enter details and click ‘Register’.
  4. Activate your account through the link sent to your email within 48 hours.

For subsequent logins:

  1. Visit the official website.
  2. Click ‘Sign In’ > ‘Registered User’.
  3. Select ‘Forgot Password?’ and enter your User ID.
  4. Submit, answer the hint question, and receive an OTP.
  5. Enter OTP and User ID to sign in.
  6. Click ‘Change Password’ to set a new password.

After this initial setup, log in with your User ID and password.

Postal Life Insurance Forms:

Obtaining a Postal Life Insurance application form is possible through online and offline channels. For online downloads:

  1. Visit the official India Post website.
  2. Choose ‘Postal Life Insurance.’
  3. Go to ‘Miscellaneous’ > ‘Download Forms and Documents.’
  4. Select ‘PLI Proposal Form’ from the forms list.

Afterwards, complete and submit the form as needed.

For offline forms, visit the nearest Post Office and request a PLI form.

Postal Life Insurance Policy Status:

  • Check policy status online or via toll-free number 1800 266 6868.

Postal Life Insurance Customer Guidelines:

  • Importance of preserving the policy bond.
  • Timely premium payments to prevent policy lapses.
  • Register your email and mobile number for account access.
  • Guidelines for policy transfer and nomination changes.


The Postal Life Insurance scheme is a reliable and cost-effective option for securing one’s and their family’s financial future. Before opting for a PLI scheme, individuals are advised to thoroughly understand the features, types, and procedures associated with the scheme. With its rich history and diverse offerings, Postal Life Insurance remains a trusted avenue for life coverage in India.


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