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.
Facts for Prelims
Dimensions of the Article:
- Direct Incentive Disbursement Program
- Key Facts about Postal Life Insurance (PLI)
Direct Incentive Disbursement Program:
- The Direct Incentive Disbursement Program is a new initiative aimed at recognizing and rewarding the sales force of the Postal Life Insurance (PLI) department for their contributions and achievements.
- The program aims to streamline the process of incentive disbursement and provide various benefits to the sales force members across the nation.
Key Features and Benefits:
Recognition of Sales Force Role: The program acknowledges the crucial role played by PLI’s sales force in driving the department’s success.
- Coverage: The program will impact approximately two lakh sales force members nationwide, including Gramin Dak Sevaks, Direct Agents, Field Officers, and Departmental Employees.
- Swift and Secure Transactions: Sales force members will receive their incentives directly in their Post Office Savings Bank accounts, ensuring quick and secure transactions.
- Convenience and Motivation: The direct disbursement of incentives allows the sales force to conveniently manage their funds. Immediate rewards are expected to enhance motivation and drive optimal performance.
- Simplified Administration: Automated payout processes will reduce administrative costs, enabling the department to focus more on delivering excellent client service.
Key Facts about Postal Life Insurance (PLI):
- Establishment: PLI is the oldest life insurer in India, introduced on February 1, 1884.
- Origin and Extension: It initially started as a welfare scheme for the benefit of postal employees and later extended its coverage to employees of the Telegraph Department in 1888.
- Coverage for Women: In a progressive move, PLI extended insurance cover to female employees of the former P & T Department in 1894, at a time when most other insurance companies did not provide coverage for female lives.