Monopoly for securing life insurance business in
Rural Postal Life Insurance
The Postal Life Insurance and Rural Postal Life Insurance have following products : -
(a) Santosh (a) Gram Santosh
(b) Suraksha (b) Gram Suraksha
(c) Suvidha (c) Gram Suvidha
(d) Sumamgal (d) Gram Sumangal
(e) Yugal Suraksha (e) Gram Priya
(f) Children Policy (f) Children Policy
The main characteristic of the Postal Life Insurance Scheme is its simplicity and limited number of its products. The rates of premium are slightly lower and bonus raters are higher, as compared to LIC Plans. The surrender values are also more liberal. In real sense there are no marketing activities in PLI. In spite of this it has registered a modest growth.
The Postal Department is also chalking out plans to expand its operation on larger scale.