POSTAL LIFE INSURANCE
POSTAL LIFE INSURANCE Postal Life Insurance (PLI) was introduced on February 1, 1884 with the express approval of the Secretary of State (for India) to Her Majesty, the Queen Empress of India. It was essentially a scheme of State Insurance mooted by the then Director General of Post Offices, Mr. F.R. Hogg in 1881 as a welfare scheme for the benefit of Postal employees and later extended to the employees of Telegraph department in 1888. In 1894, PLI extended insurance cover to female employees of P & T Department at a time when no other insurance company covered female lives. It is the oldest Life insurer in this country. In the beginning, the upper limit of life insurance was only INR4000 - which has now increased to INR10 lakhs for all schemes combined - Endowment Assurance and Whole Life Assurance. It now covers employees of Central and State governments, Central and State public sector undertakings, universities, government aided educational institutions, nationalized banks, lo