Commissioner of Income Tax, Vijayawada, K. Ajay Kumar, on Sunday said Postal Life Insurance (PLI), a 125-year-old life insurance scheme run by the Department of Posts, was a good option for people eligible for it as it charged lower premium and offered higher returns than comparable policies of life insurers.
Addressing a meeting organised in connection with the distribution of regional excellence awards by the Department of Posts to outstanding postal employees, Mr. Ajay Kumar complimented the department for its commendable services and mooted more postal branches in other countries to reach out to a wider range of clientele.
He also patted the department for launching Rural Postal Life Insurance in 1995 to take the benefits to the rural population.
Post Master General of Vijayawada region M. Sampath, said the reach of the Department of Posts was incomparable.
The department personnel reached even the Indian soldiers posted at Siachen Glacier. The department had been successful in motivating its personnel to work in close contact with the common man and develop good rapport, he said, giving a clarion call to them to work relentlessly to sustain the glory earned by the postal wing over the decades.
The meeting was aimed at recognising the hard work put in by the department personnel and bestowing them with excellence awards. The Vijayawada postal region comprises six revenue districts of Krishna, Guntur, Prakasam, Nellore, Khammam and West Godavari.
In 2009-10, the region stood first in Andhra Pradesh circle by recording a business of Rs. 252 crores on Postal Life Insurance as against the given target of Rs. 196 crore. Under Rural Postal Life Insurance Scheme in the same year, the region secured 4,25,000 policies against a given target of 4,20,000 policies.
Mr. Ajay Kumar distributed awards and certificates to 50 postmasters of various branches in the region, 10 field officers, five sub-divisional inspectors and postmasters of Project Arrow Post Offices and core banking solutions. System administrators and supervisors who were involved in computerisation of post offices were also felicitated on the occasion.
Director of Post Services, Vijayawada region, D.V.S.R. Murthy and others were also present.
