RURAL POSTAL LIFE INSURANCE

RURAL POSTAL LIFE INSURANCE

Rural Postal Life Insurance (RPLI) came into being as a sequel to the recommendations of the Official Committee for Reforms in the Insurance Sector (Malhotra Committee). The Committee had observed in 1993 that only 22 percent of the insurable population in this country had been insured; life insurance funds accounted for only 10 percent of the gross household savings. The Government accepted the recommendations of Malhotra Committee and allowed Postal Life Insurance to extend its coverage to the rural areas to transact life insurance business with effect from March 24, 1995, mainly because of the vast network of Post Offices in the rural areas and low cost of operations. An ‘abhaya mudra’ - ‘symbol of protection’ with three leaves placed in a oval is the green colour logo of RPLI. While the mudra symbolises protection, the three leaves mean growth and continuity.