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Sampoorna Bima Gram Yojna launched, PLI initiative expanded

Sampoorna Bima Gram Yojna launched, PLI initiative expanded

Union Communications Minister Manoj Sinha launched the Sampoorna Bima Gram (SBG) Yojana and an initiative for expansion of clientele base of Postal Life Insurance (PIL) on 13 October 2017.

The Scheme is launched to provide banking services through the postal network, which needs to be taken forward to provide affordable life insurance services to people living in rural areas of the country. All villages under the Saansad Adarsh Gram Yojana will be brought under its ambit.

Highlights of the Scheme:

  • Under the SBG Yojana, at least one village (having a minimum of 100 households) will be identified in each of the revenue districts of the country, wherein endeavour will be made to cover all households of that identified village with a minimum of one Rural Postal Life Insurance (RPLI) policy each.
  • Under the scheme for expansion of clientele base of PLI, it has now been decided that benefits of Postal Life Insurance (PLI) will no more be confined to government and semi-government employees, but will also be available to professionals such as doctors, engineers, management consultants, charted accountants, architects.
  • Coverage of all households in the identified Sampoorna Bima Gram village is the primary objective of this scheme.
  • The decision has been taken to expand the cover of social security and bring maximum number of people under the protection of Postal Life Insurance (PLI).

About Postal Life Insurance:

Postal life insurance was started with effect from 01 February 1884 for central government/state government officials, defence personnel, officials of govt institutions. It is one of the oldest life insurance schemes introduced for the benefit of Government and semi-Government employees. The main highlight of the scheme includes Low Premium and High Bonus.

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