GENERAL RULES: 

Eligibility Conditions For Postal Life Insurance 

6. The following persons are eligible to the benefits of the Post Office Life Insurance fund provided their age is not less than 19 years and not more than 55 years on the next birth day on the date of proposal, except in case of Anticipated Endowment Assurance, Joint Life and Children policy for which the minimum and maximum age limits are prescribed separately: -

(1) All permanent and temporary employees of Central/State Governments, Universities established by Governments (Centre/ State), Gramin Dak Sewaks, Government Aided educational institutions, Nationalized Banks, State Bank of India, Subsidiary Banks of State Bank of India, Financial Institutions notified by Government, Defence personnel (Army, Navy, Air Force), Personnel of para military force including Assam Rifles, ITBPF, CISF, BSF and CRPF etc., Regular employees of Public Sector Undertakings7(Centre and State), Regional Rural Banks8,10, Permanent & temporary servants of local bodies paid from “Local Funds” as defined in Fundamental Rule 9 (14).

 (2) All permanent and temporary employees of the Council of Scientific and Industrial Research, The Medical Council of India, The Dental Council of India, The Nursing council of India, and The Pharmacy Council of India9. (3) Industrial and Work-charged employees in the Department of Posts and Department of Telecommunications whose pay is regulated under the “Fundamental Rules”.

(4) All permanent and temporary employees of autonomous body established by stipulated rules of Centre/State governments9.

(5) Members of the Defence Services including those holding short service commission, extended service commission and other kinds of non-permanent commissions are also eligible to join the fund.

 (6) Employees engaged/appointed on contract basis by Central/ State Governments, where contract is extendable.

(7) Employees of Joint Ventures in which Central/ State Governments/ Public Sector Undertakings/ Nationalized Banks have minimum holding of 10 percent.

(8) Members/employees of Credit Cooperative Societies and other cooperative societies registered with Government under the Cooperative Societies Act and partly or fully funded from the Central/State Governments/RBI/SBI/Nationalized Banks/ NABARD, and other such institutions notified by Government.

 (9) Employees of Deemed Universities and Educational Institutes accredited by recognized bodies such as National Assessment and Accreditation Council, All India Council of Technical Education, Medical Council of India, etc. and/ or affiliated to Universities/ Boards, etc.

(10) Employees of all Scheduled Commercial Banks.

(11) Employees (teaching/non-teaching staff) of all private educational institutions/schools/colleges etc. affiliated to recognized Boards (recognized by Centre/State Governments) of Secondary/Senior Secondary education i.e. CBSE, ICSE, State Boards, Open Schools, etc.

(12) Professionals such as Doctors (including Doctors pursuing Post Graduate degree courses through any Govt/Private Hospitals, Residents Doctors employed on contract/permanent basis in any Govt/Private Hospitals etc), Engineers (including Engineers pursuing Master’s /Post Graduate degree after having passed GATE entrance test), Management Consultants, Charted Accountants registered with Institute of Charted Accountants of India, Architects, Lawyers registered with Bar Council of India/ States, Bankers working in Nationalized Banks and its Associate Banks, Foreign Banks, Regional Rural Banks, Scheduled Commercial Banks including Private Sector Banks etc.

(13) (Employees of listed companies of NSE(National Stock Exchange) and Bombay Stock Exchange(BSE) in IT, Banking & Finance, Healthcare/Pharma, Energy/Power, Telecom, Infrastructure Sector etc, where employees are covered for Provident Fund/ Gratuity and/or their leave records are maintained by the establishment. NOTE 1: -If a member of the Defence Service is transferred to Reserve then his policy shall be converted into cash policy for payment of premium in cash at any post office or online on the authorized website of the Department on or before last day of the month to which the premium relates. If the last day happens to be a Sunday or a Postal holiday and insurants wants to make payment in cash at Post Office counter, the amount should be paid on the previous business day.

 NOTE 2:- Eligible Joint Ventures/ Cooperative Societies and Deemed Universities/ Educational Institutions mentioned at Sub Rule (7), (8) and (9) above will be notified in Schedule ‘A’ of these rules by Director General of Posts from time to time.

NOTE 3:- In case of WLA and EA plans under PLI, the minimum term of the policy for proponents above the age of 50 years where sum assured exceeds `5 lakh, will be 7 years and further for a person aged 54 years the minimum term will be 6 years.

NOTE 4:- If the death of the insured arise either directly or indirectly as a result of aviation otherwise than as a fare paying passenger in an aircraft authorized to undertake public transport or as a servant of Government of India in the Indian Navy or Air Force, only the surrender value acquired by the policy will be payable under the policy provided that the surrender value will be paid only if 3 years premia have been paid on the policy and the policy is of not less than 3 years duration.