The Sampoorna Bima Gram Yojana (SBGY) has been launched by the Union Minister for Communication, Manoj Sinha. To promote Postal Life Insurance government launched the scheme. The union minister said that Prime Minister want to provide banking service in rural areas people through the postal network will be accelerated through affordable life insurance service. All the village of Saansad Adarsh Gram Yojana will be covered in the scheme.
Highlights of Sampoorna Bima Gram Yojana
- In the scheme, minimum one village where minimum 100 family lives will be identified for the scheme in each of revenue district across the country.
- In all identified villages will be ensured that at least one Rural Postal Life Insurance (RPLI) for each family.
- The scheme is working on covering all family in identified Sampoorna Bima Gram Yojana.
- Now, the government has expended the benefits to professionals such as Doctors, Engineers, Lawyers, CA, and bankers while the coverage of PLI was only Government and semi-government employees.
- The decision of covering more people in the scheme for social justice and bring lots of people under the protection of Postal Life Insurance (PLI).
- The scheme will serve the people as a financial protection and also social security instrument.
Key Points of Postal Life Insurance (PLI)
- To provide benefits of semi-government and government employees, the central government launched the scheme.
- This is the oldest life insurance scheme, although it was run in 1884.
- The Rural Postal Life Insurance (RPLI) was started on the recommendation of Malhotra Committee on 24 March 1995.
- It was introduced for providing insurance cover to the rural areas people who belong to weaker sections. The scheme is also cover rural areas women.
- The scheme offers low premium and high bonus to the rural areas people.
- According to government data about 146.8 lakh RPLI policy and 46.8 lakh PLI policy is available till 31 March 2017.