The President reserves the right of making from time to time such addition, alteration or modification in the rules or in the premia to be paid as may be considered necessary, provided that no such addition, alteration or modification shall affect the terms of any contract for a policy which any person may have made with the Director-

General of Posts under these or any other rules in force at the time of making the contract unless such person has given his consent in writing to such addition, alteration or modification.

 The administration of the Post Office Life Insurance Fund and Rural Post Office Life Insurance Fund under these rules is vested in the Director-General of Posts who is authorized to issue from time to time such subsidiary regulations and orders as may be deemed necessary provided that no such regulation or order shall be inconsistent with any provision of these rules or any rules that may hereinafter be made by the President

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 birthday 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 paramilitary 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 India