Direct Incentive Disbursement Program

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Overview:

Recognising the pivotal role of its sales force, the Postal Life Insurance (PLI) introduced the pilot program for “Direct Incentive Disbursement” in the Delhi and Uttarakhand Circles.

About Direct Incentive Disbursement Program

 

  • This programme will recognize the role of PLI’s sales force which is the driving force behind the department’s accomplishments.
  • It will impact around two lakh sales force members across the nation, including Gramin Dak Sevaks, Direct Agents, Field Officers, and Departmental Employees.
  • Key benefits of pilot program:
    • Swift and Secure Transactions: Sales force receives incentives directly in their Post Office Savings Bank accounts.
    • Convenience and Motivation: Sales force can conveniently manage their funds, and immediate rewards drive optimal performance.
    • Simplified Administration: Automated payouts reduce administrative costs, enabling a greater focus on delivering client service.

 

Key facts about Postal Life Insurance

  • It is the oldest life insurer in this country which was introduced on 1st February 1884.
  • It started as a welfare scheme for the benefit of postal employees and was later extended to the employees of the Telegraph Department in 1888.
  • In 1894, PLI extended insurance cover to female employees of the erstwhile P & T Department at a time when no other insurance company covered female lives.

 


Q1) What is insurance?

Insurance is a financial arrangement in which an individual or entity, known as the policyholder, pays a premium to an insurance company in exchange for protection against certain risks or losses.

Source: Postal Life Insurance (PLI) Launches Direct Incentive Disbursement for Sales Force: A Transformational Step