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8/13/2019 Plip Rs Ntation
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Postal Life Insurance
Fazli Sattar Khan
Add DG (Operations)
Phone: 051-9260016
LOW PREMIUM ---- HIGH BONUS
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Established in 1884
Initially meant for low-paid postal employees
Its ambit stands extended
to general public
Also available for sale toall Government Servants /
Private organizations Post Office Insurants Fund
has risen from Rs.9.6million to Rs.20 billion
Postal Life Insurance
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• Contribute to National Savings
and progress of the country• Extend insurance business
even to the remotest and
neglected areas
• Use of policy holder’s fund in
the interest and welfare of the
society
• Maximum benefits to the
policy holders at the minimum
possible cost
• Ensuring efficient and quality
service to the policy holders
Objectives
A beautiful view of Shangrila resort Skardu
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Administrative Setup
• Chairman/ DG Pakistan Post
• Add Director General (PLI)
• General Managers (PLI)
• Regional Directors (PLI)
• Asstt General Managers (PLI)
• Assistant Directors Field (PLI)
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Ensures bright future andprosperity to the insurantand to the nation
Low premium rates with high
bonus rates Premium payable on monthly
quarterly, six monthly andyearly basis
Payment of premium at anypost office in Pakistan
Maximum limit is Rs.5 million
Salient Features of PLI Schemes
Centaurus Islamabad
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Risk of all sorts of casualtiescovered under the scheme
Compulsory savings for all
Insurance coverage on veryeasy terms and conditions
Loan facilities on policies
Attractive rebates on theadvance payment of each
yearly / 6 monthly premium
Payment guaranteed byGovernment of Pakistan
Muzaffarabad after Earthquake 9 Oct 2005
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ENDOWMENT POLICY
• Purchasable for any sum
• Payable at the expiry of thespecified term or on hisattaining the age of 30,35 ------ 70 years or on his death
whichever is earlier
JOINT LIFE INSURANCE
• Any sum payable at the
expiry period of 10,15 ------35 years or at the death ofeither of the two insuredpersons
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THREE PAYMENT PLAN
• Insurants feel comfortable with TPP
• Can be purchased for fixed term of12,15 ----- 30 years
• 25 % of the sum assured is payableto the policy holder at the end of
the one third of the term• 25 % at the end of the two third of
the term, 50 % along with theaccrued bonus at the end of term
•In case of death of the policyholder, total sum assured + fullbonuses is payable to the claimantirrespective of the paymentsalready made to the policy holderduring his life time
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EDUCATIONAL & MARRIAGEENDOWMENT
• Issued for the period ranging from 5-17years
• The period of endowment is timed asper requirement of the beneficiary
child
• In case of death of the insured beforethe specified date, the policy becomesa claim and payment of further
installments are waived off• The amount of claim is deposited in
S.B account in the name of thenominated child and is paid withaccruing profits on the specified
date/expiry of term
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CHILD PROTECTION POLICY
• CPP is issued jointly on the lives
of the child and the father or
mother
• No other relative is allowed to
be associated with the policy
• It is issued when the age of the
child is between 1 to 17 years as
per details given below:
AGE ON
ENTRY
MINIMUM MAXIMUM
Child 6 months 17 years
Payer 20 years 50 years
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Strength of PLI
• A relatively well organized
system both in terms ofmanagement and itsphysical network
• About 126 years ofexperience in Life Insurance
• High bonus and lowestpremium
• Guaranteed by the state
• Accessibility in the remotestareas of Pakistan through
wide network
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• Departmental and non-
departmental field force
• Premium payable on
monthly, quarterly, six
monthly and annually
• Confidence of general public
in Pakistan Post and PLI
•
Exemption fromTax
• Exemption from supervisory
fee