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The Department of Post today launched Sampoorna Bima Gram (SBG) Yojana and expanded the coverage of Postal Life Insurance to professionals, as part of efforts to bring affordable life insurance services to people and promote financial inclusion.
The two initiatives were launched by Communications Minister Manoj Sinha here today.
Under the new Sampoorna Bima Gram (SBG) Yojana, a minimum of one village will be taken up in each of the districts of the country, and efforts will be made to cover all households of village with at least one Rural Postal Life Insurance policy each.
The second initiative involves expanding the ambit of Postal Life Insurance (PLI), which will now be available to professionals as well as employees of BSE and NSE listed companies.
The scheme was earlier confined to government and semi- government employees, but would now be available to doctors, engineers, management consultants, chartered accountants, architects, lawyers and bankers too.
The communications minister, who presides over Departments of Post and Telecom, said the scope of the scheme has been enlarged to bring maximum number of people under Postal Life Insurance (PLI) coverage.
He said that the postal policies have low premium and high bonus, unlike the private ones.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)