Scroll Text

........ CITIZENS DUTY & SLOGAN ::: It shall be the duty of every Citizen of India to defend the Country and render National service when called upon to do so ... SLOGAN ::: "That loyalty to the Country becomes ahead of all other loyalties. And this is an absolute loyalty since one can not weight it in terms of what one receives" (Lal Bahadur Shastri) ..... face book page link for 4th AIC of AIPEU GDS ... ......... .......

scroll text 2

......... .............. CONGRATULATIONS TO THE SELECTED CANDIDATES FOR THE POSTS OF GDS ..................... 4th All India Conference of AIPEU GDS - 8th & 9th October 2022 -- Kasaragod - Kerala ......


... ... Dear Comrade newly elected Divisional / Branch Secretaries of AIPEU-GDS -- PLEASE SEND YOUR POSTAL ADDRESS WITH PIN CODE, MOBILE NUMBER, E-MAIL ID THROUGH SMS TO .. 6294343737 / 9748659815.. OR BY E-MAIL TO >< IMMEDIATELY................... CRUSADER TO GRAMIN DAK SEVAKS (2nd Edition -2016) is ready and can place indent to AIPEU GrC (CHQ), NEW DELHI-8....... One copy Rs.225/- (560 pages) ..... Send e-MO for Rs.250/- to receive one copy of the Book by Regd. Book Paket..........

Saturday, October 10, 2015

India Post may sell life insurance policies

  • Mahua Venkatesh and M Rajendran, Hindustan Times, New Delhi
  •  |  
  •  Oct 10, 2015 
If all goes according to plan, India Post will soon offer life insurance products as part of a broader strategy to give its millions of customers a suite of financial and savings instruments ranging from small savings, fixed deposits, insurance and mobile wallets. A specific policy for the girl child, with a maximum assured sum of Rs 10 lakh, is also on the cards.
The move is part of the postal department’s strategy to modernise its services, leveraging its network of 160,000 post offices , 45,000 postmen and 250,000 extra-departmental employees, who would be trained to serve as personnel financial advisers in remote villages.
“We are looking to revamp our life insurance business in a big way in present, we offer our own life insurance products in a very limited manner only to postal staff and a few government officials,” Kavery Banerjee, secretary, department of post, told HT.
India Post will soon approach the Insurance Regulatory and Development Authority (IRDA) for its approval to launch more insurance products.
At present, India Post has a total corpus of Rs 56,000 crore under its insurance segment, which offers postal life insurance (PLI) and rural postal life insurance (RPLI). “We are looking at a 500% increase in the next two to three years,” Banerjee said.
India Post has managed to sell 7 million policies under PLI while 23 million under RPLI. It is also looking at tie-ups with general insurance companies at a later stage to offer non-life products.
Besides, India Post will also start selling Atal Pension Yojana, a government-backed pension scheme, which was launched by Prime Minister Narendra Modi in May this year. Until August, banks have managed to induct only about 500,000 subscribers into the scheme, which mainly targets the unorganised sector.
The finance ministry, which has set a target of 20 million subscribers by December 31 this year, has also asked banks to chalk out individual strategies to expand the reach of the pension scheme.
//copy// HT