Postal Life Insurance (PLI) was introduced in India on 01 February 1884. This insurance scheme was initiated by the British colonial government and aimed to provide life insurance coverage to postal employees. Over the years, the scope of PLI has expanded to cover employees of various government departments, public sector enterprises, and educational institutions.
The main objective of Postal Life Insurance is to provide affordable life insurance to individuals and promote the habit of saving among policyholders. PLI is managed by the Department of Posts under the Ministry of Communications, Government of India. It offers various insurance products, including endowment assurance policies, whole life policies, and convertible whole life policies.
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