How is PLI premium calculated?
For the Endowment Assurance Plan under PLI, one can follow the below-mentioned steps for premium or maturity calculation:
- Step 1:Enter the sum assured amount.
- Step 2:Enter the year of purchase of the policy.
- Step 3:Enter your current age.
- Step 4:Enter your maturity age.
How is maturity value of postal life insurance calculated?
Process of Using PLI Maturity Calculator
- Input the Sum Assured amount.
- Input the year of purchase of the policy.
- Input the current age of the customer.
- Input the maturity age of the customer.
- Once the customer clicks on the “Calculate” button, the results will be displayed on the screen.
What is the premium for PLI?
Convertible Whole Life Assurance
| Entry age | Monthly Premium Payable for the first 5 years and thereafter if option is not exercised but ceasing at the age of 60 years |
|---|---|
| 47 years | Rs.26 |
| 48 years | Rs.28 |
| 49 years | Rs.30 |
| 50 years | Rs.33 |
Can I pay premium of PLI Online?
Candidate can pay PLI premium online through PLI Online Portal, PLI Payment app and much more. You can also use all payment method like pay using credit card, debit card, UPI, etc., There are two minimum requirements to pay PLI online. Mobile number should be registered in your PLI Policy.
Is PLI maturity amount tax free?
As per Section 10(10D) of the Income Tax Act, 1961 the amount of sum assured plus any bonus (i.e. the policy proceeds) paid on maturity or surrender of policy or on death of the insured are completely tax free for the receiver subject to certain conditions.
Can we close PLI before maturity?
Yes, before date of last premium, he can apply for its revival and after credit of due premium with interest @ 12% per annum and a good health certificate, he can continue this policy.
How can I submit PLI premium online?
Register at PLI customer portal to pay PLI premium online
- Generate Customer ID. You have to visit the below link https://pli.indiapost.gov.in/CustomerPortal/PSLogin.action.
- Set your password.
- login in PLI customer online portal and pay online PLI premium.
Who is eligible for postal life insurance?
Anyone working in government departments and ministries, local bodies, defence services, para military forces, educational institutions, nationalised and commercial banks, and specified organisations, can apply for the policy. Postal Life Insurance policyholders must be over 19 years of age but less than 55 years old.
Which is the best PLI plan?
6 Best Postal Life Insurance (PLI) Plans for Government Employees 2022
- Whole Life Assurance (Suraksha)
- Endowment Assurance (Santosh)
- Convertible Whole Life Assurance (Suvidha)
- Anticipated Endowment Assurance (Sumangal)
- Joint-Life Insurance (Yugal Suraksha)
- Children Policy (Bal Jeevan Bima)
Is PLI a good investment?
PLI is a good option for people, who are ‘eligible’ for it, as it charges lower premiums and offers higher returns than comparable policies of life insurers.
What is a postal life insurance premium calculator?
A Postal Life Insurance premium calculator is an online tool to check and compare the premiums for various plans and policies offered under Postal Life Insurance (PLI). The calculator gives a rough idea about the premium to be paid which helps to get the insurance plan as per your need and affordability.
What is Postal Life Insurance (PLI) scheme?
PLI, one of the oldest insurance schemes in India, is provided by India Post, and it offers 6 protection plans. In order to calculate the premium for the plans using Postal Life Insurance premium calculator, the following details are required:
What is the maximum amount assured under postal life insurance?
Postal Life Insurance schemes offer minimum sum assured of Rs. 20,000 and a maximum of Rs. 50 lakh for all the plans except the Child plan (Bal Jeevan Bima). Maximum sum assured for this particular policy is Rs. 3 lakh.
How to use premium calculator to calculate life insurance premium?
Visit the official website of the premium calculator. You will be asked to choose the insurance company and the plan offered by the company. Enter the details such as your name, age, contact details, email ID, sum assured, policy term, premium payment frequency. Click on calculate.