RPLI Policy: The government has expanded RPLI eligibility to include savings account holders of scheduled banks. Now, people in rural areas can easily obtain postal life insurance.
Now you can get the benefit of RPLI from your bank account also.
Rural Postal Life Insurance: If you have a savings account with a bank and want to take advantage of Rural Postal Life Insurance (RPLI), this news is extremely important for you. Now, having a post office savings account is no longer necessary to obtain Postal Life Insurance (RPLI). Recently, the government expanded the eligibility criteria to include those with savings accounts at scheduled banks.
This decision will especially provide relief to those people who, despite living in rural areas, had to commute from village to city for job or other work and faced a lot of problems in depositing insurance premium due to changing bank or account.
Union Minister gave important information
Union Minister of State for Communications, Pemmasani Chandrasekhar, announced via his official platform, Xpost, that having a savings account with any scheduled bank other than the Post Office Savings Bank (POSB) will now be considered an additional eligibility criterion for RPLI. This means that having a post office savings account is no longer a requirement for insurance coverage.
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What is the new rule of RPLI?
According to Union Minister of State for Communications, Pemmasani Chandrasekhar, anyone with a savings account with any scheduled bank is now eligible for RPLI. Therefore, individuals between the ages of 18 and 43 can choose the Rural Postal Life Insurance option and receive coverage up to ₹10 lakh.
This decision will make premium payments easier for people moving from rural areas to cities. Not only this, but it will also significantly reduce the hassle of changing bank accounts to continue the policy.
What documents are required to prove eligibility?
According to the government, digital or bank-related documents can be used to prove eligibility for RPLI.
- CBS Status
- Email Statement
- Mobile Banking screenshot
- ATM statement
- updated passbook
- Where digital proof is available, there will be no need for a separate physical bank certificate.
RPLI business also increased
The Postal Department's business has also seen significant growth in recent times. In the first quarter of the current financial year, the Department achieved a turnover of ₹4,008.95 crore (US$4.0 billion), a 22.2 percent increase over the same period last fiscal year. Most notably, this is the first time India Post's first-quarter business has surpassed ₹4,000 crore (US$4.0 billion).
- During this period, parcel services increased by 49.9%.
- Mail services business grew by 41.9%.
- International trade registered a growth of 34.3%.
- Citizen-centric services registered an increase of 85.7%.
- Postal Life Insurance and RPLI increased by 20.1%.
- Post Office Savings Bank recorded a growth of 9.7%.
