The postal life insurance scheme was launched it the year 1884. It was initially created for postal employees and was later extended to other government and semi-government employees including employees of defence services, government-aided educational institutions, public sector undertakings, paramilitary forces, Reserve Bank of India, nationalised banks, financial institutions, etc. The insurance is easily accessible since it is offered by a wide network of post offices. The policies are purchased by a huge number of government employees for the death, maturity and tax benefits offered.
Six plans are available under Postal Life Insurance:
Listed below are the features and benefits found under each of the earlier-mentioned plans:
The tax rebates available on Postal Life Insurance policies under section 80C are as follows:
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