New Delhi: Post Office offers Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI) schemes. All professionals, employees of both public and private sectors can avail benefits of the aforementioned insurance schemes, according to details provided by India Post. India post schemes are very popular as investors considered them safe and stable.Also Read - Delhi Police Roadblocks at Farmers' Protest Site at Tikri Border Being Moved, Traffic Likely to Open Soon

Post Office Schemes: Income Tax Benefits

  • The advantages of PLI and RPLI are that these two provide insurance with affordability and high bonus than other life insurers, India Post tweeted.
  • PLI policy is available to employees of central and state governments such as Defence and Para-military services, public sector undertakings (PSUs), banks, educational institutions, and local bodies, India Post stated.
  • Other professionals such as doctors, engineers, chartered accountants, MBAs, lawyers, and journalists, and employees of companies listed with BSE and NSE can avail benefits of PLI scheme, as per details provided by India Post.
  • Meanwhile, RPLI scheme is available to all people residing in rural areas.
  • Post Office offers rebate in PLI or RPLI premium payment. Admissible rebates at 1 per cent and 2 per cent will be given for 6 months and 12 months or more advances deposits in PLI scheme respectively, India Post stated.
  • Admissible rebates at 0.5 per cent, 1 per cent, and 2 per cent will be given for 3 months, 6 months, 12 months or more deposits in RPLI scheme respectively, according to India Post.
  • PLI and RPLI policyholders can pay premiums at any post office across the country. Apart from this, online payments through PLI portal with debit or credit card, BHIM/UPI, and net banking. Premium can also be paid through salary, India Post stated.
  • PLI and RPLI policyholders can avail income tax rebate under section 80C of Income Tax Act.
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