Sampoorna Bima Gram (SBG) Life Insurance Scheme for All Rural Peoples

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The central government has launched Sampoorna Bima Gram (SBG) Yojana to provide an insurance cover to all the poor people of the rural areas. All the identified households in the villages will be given an insurance policy. Moreover, all the villages under the Saansad Adarsh Gram Yojana (SAGY) will also get covered under this scheme.

The Sampoorna Bima Gram (SBG) is an initiative for an increased the number of people under Postal Life Insurance (PIL) Scheme. The main aim of this scheme is to provide an affordable life insurance service for those people who are residing in the rural areas. Moreover, this scheme will also extend the banking services through the postal network across the country.

According to the official notification, the benefits of Sampoorna Bima Gram Yojana is open to all citizens including government, semi-government, Doctors, Engineers, Management Consultants, Charted Accountants, Architects, Lawyers, Bankers etc. and to every employee of the listed companies of NSE (National Stock Exchange) and BSE (Bombay Stock Exchange).

Highlights of Sampoorna Bima Gram (SBG)

The complete details and features of the scheme are given below :-

  • The government will cover at least one village (having a minimum of 100 households) under this scheme. This village will be identified from each revenue districts across the country.
  • The government will provide at least one RPLI (Rural Postal Life Insurance) policy to each household in the identified village.
  • Subsequently, the government will expand the client base of Postal life insurance (PLI) through the Sampoorna Bima Gram Yojana.
  • The benefits of the Postal Life Insurance (PLI) Scheme has been extended to all the citizens including the doctors, government employees, lawyers, engineers etc.
  • In addition to this, the Postal Life Insurance (PLI) will have low premium and high bonus as compared to the Private company’s Insurance.

The Department of Posts is operating these initiatives for the expansion of Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI). Moreover these initiatives will secure the life of Poor people as well as prove helpful in their financial Inclusion.

Salient Features of Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI)

Government has made some interesting provisions in both the schemes which are specified below:-

  • Postal Life Insurance (PLI) was only for the benefits of Government and semi-Government employees. This scheme was launched in 1884 under the British Rule.
  • Rural Postal Life Insurance (RPLI) was launched on March 24, 1995 to provide insurance cover to people residing in rural areas, especially weaker sections and women living in rural areas.
  • Moreover, both these schemes has low premium and high bonus which is a unique feature of these schemes.
  • As per official data, over 46.8 lakh employees in PLI and 146.8 lakh rural people in RPLI have been covered already across the nation.

Through this scheme, the government will provide an affordable life insurance services to all citizen of Rural people.

Related Content

— Candidates can also see the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) to provide Insurance cover to all the Indian citizens.

— Moreover, candidates can also see the Pradhan Mantri Vaya Vandana Yojana (PMVVY) to provide Insurance cover to the poor people.

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