Ms Devasher told reporters after giving away National awards for outstanding performance in postal life insurance and rural postal life insurance that the new policies are at the conceptual stage and refused to give any time-frame on when it will be introduced.
Talking about the IT project of India Post, Ms Devasher said that it will be rolled out once it is implemented in all the seven pilot circles.
She said that postal life insurance was started as an in-house life insurance scheme for the postal employees in 1884 and is now available to all employees of the Central and state governments including the defence and paramilitary forces, employees of PSUs, public sector commercial banks, autonomous bodies and universities and government aided educational institutions.
She said the scheme was extended to all persons residing in rural India in 1995 and is called Rural Postal Life Insurance Scheme.
She also said that the opening of foreign direct investment in the insurance sector will not affect the postal department. “We have a fixed clientele,” she said.
Shri
V Pati, Chief General Manager of Postal Life Insurance said that the
number of policies in postal life insurance and rural postal life
insurance is almost Rs 2.86 crore. The corpus size is Rs 55,000 crore
and the total sum assured for all policies is Rs 2,01,373 crore.
Source : http://www.newindianexpress.com/
