Aside from its core postal services, the Indian Postal Department stands out for its diverse financial offerings. It provides traditional savings schemes for personal finance and introduces innovative insurance schemes for comprehensive family financial security.
The department offers substantial insurance coverage with low premiums, offering more benefits than private companies. However, this is turning people away.
Introducing a game-changing accident insurance scheme meticulously crafted to deliver financial security at a pocket-friendly cost. For a mere annual payment of Rs.555, policyholders can unlock benefits worth Rs.10 lakh, ensuring peace of mind for them and their loved ones.
With Health Plus as the first option, you can rest assured that you will receive a sum insured of Rs.5 lakhs. In the unfortunate event of death due to an unforeseen event or permanent disability, 100% of the sum assured will be provided, offering comprehensive coverage for your family’s financial security.
Furthermore, the department pays Rs.50,000 for children’s marriage expenses and Rs.35,000 for broken bones. The premium for the Health Plus plan is Rs.355 per year, providing Rs.5 lakh insurance coverage.
The second option offers a sum insured of Rs.10 lakhs. Similar benefits are available, with Rs.25,000 for broken bones and Rs.5,000 for funeral expenses. Policyholders can receive up to Rs.50,000 for children’s education. The premium for this option is Rs.555 per year.
Under the third option, a sum assured of Rs.15 lakhs is provided. The same benefits apply as the second option, along with an additional Rs.1 lakh for child marriage expenses. The premium for this plan is Rs.755 per year.
The Department of Posts offers three schemes: Rs.355, Rs.555, and Rs.755. The Personal Accident Cover under the Health Plus Policy is available to individuals aged 18 to 65. Premium payments are facilitated through India Post Payments Bank, and policyholders must have an account with this bank. While the eligibility for Rs.355, Rs.555, and Rs.755 is based on the same premium, the benefits vary.