Postal Life Insurance opened to graduate doctors, engineers, lawyers and shopkeepers

The Postal Life Insurance (PLI) scheme of the Department of Posts has been opened to more people. Until now, it was limited to government employees and salaried staff. Professionals from different fields can now also benefit from it.

The scheme has been opened to doctors, engineers, lawyers, shopkeepers and other professionals who have completed graduation. This means people working in the private sector and those running their own businesses can also get life insurance cover at a low premium.

Superintendent of Post Offices Rajesh Kumar Soni said any eligible citizen who has completed graduation can take the scheme. They include doctors, engineers, lawyers, shopkeepers and other graduate professionals. The change has cleared the way for a large number of people to take life insurance cover.

The new categories covered are: graduate shopkeepers and businesspeople; doctors and eligible professionals in the medical field; engineers and graduates in the technical field; lawyers and professionals in the legal field; and other eligible graduate citizens. Not only those in government jobs but also people who work for themselves and offer professional services independently will be able to take the cover.

The department has said the premium under the scheme is lower than that of private insurance companies. People with limited income may therefore also have the option of taking life insurance.

In addition, on completion of the policy term, the policyholder receives the maturity amount. A bonus is also paid along with this amount. The scheme can thus offer long-term savings along with insurance cover.

Life insurance is not only a means of investment but also important for a family's financial security. If something untoward happens to the earning member of a household, the insurance cover can give the family financial support. Insurance is therefore necessary for professionals and the self-employed as well.

The department is running a special campaign to raise awareness about the scheme. The aim is for as many eligible people as possible to learn about it and consider the available options.

Before taking Postal Life Insurance, it is necessary to confirm the policy rules, eligibility, premium, sum assured, bonus and other conditions with the authorised postal department. This will make it easier to choose the right policy for one's needs.