Plip Rs Ntation

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



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



• 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



Administrative Setup

• Chairman/ DG Pakistan Post

• Add Director General (PLI)

• General Managers (PLI)

• Regional Directors (PLI)

• Asstt General Managers (PLI)

• Assistant Directors Field (PLI)



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



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





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



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



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





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



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