Eligibility conditions for Postal Life Insurance

6. The following persons are eligible to the benefits of the
Post Office Life Insurance fund provided their age is not less than 19 years
and not more than 55 years on the next birth day on the date of proposal,
except in case of Convertible Whole Life Assurance, Anticipated Endowment
Assurance, Joint Life and Children policy for which the minimum and maximum age
limits are prescribed separately:-

(1) All permanent and temporary employees of Central/State
Governments, Universities established by Governments (Centre/State), Gramin Dak
Sewaks, Government Aided educational institutions, Nationalized Banks, State
Bank of India, Subsidiary Banks of State Bank of India, Financial Institutions
notified by Government, Defence personnel (Army, Navy, Air Force), Personnel of
para military force including Assam Rifles, ITBPF, CISF, BSF and CRPF etc.,
Regular employees of Public Sector Undertakings7 (Centre and State), Regional
Rural Banks8,10, Permanent & temporary servants of local bodies paid from
“Local Funds” as defined in Fundamental Rule 9 (14).

(2) All permanent and temporary employees of the Council of
Scientific and Industrial Research, The Medical Council of India, The Dental
Council of India, The Nursing council of India, and The Pharmacy Council of
India9.

(3) Industrial and Work-charged employees in the Department
of Posts and Department of Telecommunications whose pay is regulated under the
“Fundamental Rules”.

(4) All permanent and temporary employees of autonomous body
established by stipulated rules of Centre/State governments9.

(5). Members of the Defence Services including those holding
short service commission, extended service commission and other kinds of
non-permanent commissions are also eligible to join the fund.

(6) Employees engaged/ appointed on contract basis by
Central/ State Governments, where the contract is extendable.

(7) Employees of Joint Ventures in which Central/ State
Governments/ Public Sector Undertakings/ Nationalized Banks have minimum
holding of 10 percent.

(8) Members/ employees of Credit Cooperative Societies and
other cooperative societies registered with Government under the Cooperative
Societies Act and partly or fully funded

from the Central/ State Governments/ RBI/ SBI/ Nationalized
Banks/ NABARD, and other such institutions notified by Government.

(9) Employees of Deemed Universities and Educational
Institutes accredited by recognized bodies such as National Assessment and
Accreditation Council, All India Council of Technical Education, Medical
Council of India, etc. and/ or affiliated to Universities/ Boards, etc.

(10) Employees of all Scheduled Commercial Banks.