Prices Increasing soon Prices Increasing Soon

PLI Maturity Calculator

Postal Life Insurance is a welfare scheme introduced by India Post under the Ministry of Communication and Information Technology in 1884. It offers several insurance plans and schemes covering employees within the Central and State Government and other government-based professionals. You can use the PLI maturity calculator to get the maturity amount that you would receive at the end of the term of the policy. Let us learn more about the PLI calculator maturity amount and hits advantages.

Read more
Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
+91
Secure
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

What is a PLI Maturity Calculator?

The PLI maturity calculator is an online tool that helps to calculate the value you would receive as a customer upon maturity of the policy. With a number of insurance plans available in the market, the process of choosing a suitable policy can be overwhelming. The PLI calculator maturity amount simplifies this task and helps a customer make an informed decision to choose a policy that will provide him/her with the maximum benefit.

The PLI Maturity Calculator is one of the easiest ways to calculate maturity sums online. It is freely available on the official website of the organization that uses the previous year’s bonus records and patterns to estimate the expected bonuses for your PLI plans. This way, you can accurately estimate the PLI calculator maturity amount from the comfort of your home in just a few minutes.

*Note: You can also use term insurance calculator to calculate premium amount of the chosen term plan.

How to Use the PLI Maturity Calculator?

Here is how you can use the PLI calculator maturity amount online:

  • Step 1: Go to the PLI maturity calculator page.

  • Step 2: Select the current age and gender.

  • Step 3: Choose the desired policy term and life cover amount for the PLI policy.

  • Step 4: The monthly premium rate will be displayed on the screen.

Advantages of Using PLI Maturity Calculator

Here is a list of all the benefits of using the PLI calculator maturity amount:

  1. Easily Accessible

    The PLI maturity calculator is available online, and you can use the calculator easily at any time at the convenience of the customer.

  2. Reduces Manual Tasks

    Using the PLI calculator maturity amount allows you to make all the complex calculations online instead of manually going through all the policies and comparing them to find a policy that best fits the customer's requirements. It can easily be done online without having to visit a post office and stand in long lines.

  3. Helps in Financial Planning

    The PLI maturity calculator gives an estimate of the expected maturity amounts. This can help you plan your finances accordingly. The customer can plan events in his life, keeping in mind all these details.

  4. Accurate Calculations

    The PLI calculator maturity amount is accurate and calculated in just a few minutes. This leaves no room for mistakes which might be possible in manual calculations and thus allows you to make quick estimations accurately.

What are the Different Types of PLI Maturity Calculator?

You can estimate your PLI calculator maturity amount using any of the following postal life insurance maturity calculators:

  • PLI Suraksha Maturity Calculator

  • PLI Santosh Maturity Calculator

  • PLI Suvidha Maturity Calculator

  • PLI Sumangal Maturity Calculator

  • PLI Yugal Suraksha Maturity Calculator

  • PLI Bal Jeevan Bima Maturity Calculator

Information Required for the PLI Calculator Maturity Amount

A customer using the PLI Maturity Calculator would be required to provide the following information:

  • Personal Information – Customer's name, age, gender, date of birth, occupation, type of policy, contact number, email id, etc.

  • Desired Sum Assured – An approximate of the customer's future financial goals and monetary constraints so as to find a policy suitable for him/her.

  • Monthly Income – The amount of premium the policyholder is capable of paying after taking care of his/her other monthly expenses to receive the desired PLI calculator maturity amount.

Benefits of Buying Postal Life Insurance

Postal Life Insurance secures the financial future of the nominees of the policyholder and provides the policyholder to develop a means of regular saving, the benefits of which can be reaped as a lump sum when the policy matures. 

Following are some of the benefits of Postal Life Insurance:

  1. Lowest Premium 

    PLI offers one of the most affordable insurance plans with the highest covers for a large policy term, making it a suitable policy option for people. You can use the postal life insurance premium calculator to estimate the premiums you would have to pay for the desired life cover. You can also use the PLI maturity calculator to see the potential maturity amount you would be eligible to receive for a PLI scheme of specific policy term and sum assured.

  2. Loan Facility

    A policyholder can avail of a loan under this plan after the completion of certain policy years. The Endowment Assurance Plan and Joint Life Assurance plan can provide a loan once it completes a term of 3 years. The Whole Life Assurance and Convertible Whole Life Assurance cover can provide a loan after it completes a term of 4 years.

  3. Switching of Nominee

    The policyholder is allowed to switch nominees at any time during the PLI scheme policy tenure.

  4. Tax Benefits

    You can claim postal life insurance tax benefits to their policyholders under the Income Tax Act, Sec 80C.

  5. Duplication of Policy

    In the event that the policy documents are lost, burnt, or destroyed due to any reason, the policyholder will be provided with the duplicate policy documents.

  6. Assignment of Policy to a Financial Institution

    PLI offers the facility of assigning the policy to a financial institution in case the policyholder wishes to take a loan on it.

  7. Revival of Lapsed Policy

    In case the policy is lapsed due to any reasons, it can be revived under PLI within the revival period.

Persons employed with the following organizations may apply for a PLI policy:

  • Central Government

  • State Government

  • Defense Services

  • Para Military Forces

  • Reserve Bank of India

  • Government – aided Educational Institutions

  • Nationalized Banks and Financial Institutions

  • Public Sector Undertakings

  • Local Bodies

  • Employees of all commercial banks

  • Extra departmental agents in departments of posts

  • Employees of deemed universities or appointed on contracts

  • Employees of all private educational institutions

  • Professionals such as doctors, engineers, etc. 

  • Employees of certain companies listed with the government, e.g., NSE, BSE, etc.

  • Autonomous Bodies

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Postal Life Insurance Premium Rates

Postal Life Insurance offers one of the lowest premium rates while providing large coverage options. However, the rates vary on a number of factors. The factors that affect the premium rate are as follows:

  • Age of the customer – Customers falling in a younger age group category get the benefit of availing lower premiums. 

  • Gender – In general, women are offered better premium rates as compared to men.

  • Sum Assured – The higher sum assured amounts usually guarantee higher premium rates.

  • Policy Term – The higher the duration of the policy, the lower the premium can be expected to be.

  • Premium Payment Term – The larger the premium payment term, the lower the premiums will be.

  • Annual Income – The yearly income impacts customers’ ability to pay the premium amount on time without lapsing the policy.

  • Occupation of the Customer – Usually, people in high-risk occupations, e.g., miners, pilots, sailors, etc., are expected to pay higher premiums.

Postal Life Insurance Calculator can be used to determine the maturity that you can expect at the end of the policy term. You can avail of this feature by using the online tool at your convenience for quick, accurate, and hassle-free calculations. This can help you plan your finances better and secure your post-retirement life.

FAQ's

  • Ans: Yes, the PLI scheme is tax-free. As per Section 80C of the Income Tax Act, 1961, you can claim a tax deduction of up to 1.5 Lacs on the premiums paid towards the scheme.
  • Ans: Yes, multiple Postal Life Insurance policies can be purchased by a customer at a time. This holds good for each class of policies if the total Sum Assured is a minimum of Rs 20,000 and a maximum of Rs 200000.
  • Ans: Yes, the policyholder can avail of the insurance facility under PLI as long as the life assured continues to pay the premiums for the policy. But it is necessary to know what is term insurance or life insurance before making a purchase and avail its benefits.
  • Ans: Yes, the policy can be surrendered; however, the surrender value will depend upon the surrender factor, the type, and the term of the policy.
  • Ans: The minimum and maximum entry age is different for the different PLI plans and depends on the terms and conditions of the specific policy. You can go through the policy docuements of each PLI scheme to learn more about their eligible entry age.
  • Ans: Yes, the premiums for Postal Life Insurance can be paid online at their official website or via an electronic clearance system.
  • Ans: A PLI policy can be purchased from any post office branch in India or online from the website of Indian post.
  • Ans: Yes, a PLI policy can easily be transferred from one post office to another. The policyholder needs to send a written application to the Chief Post Master General through the Post Office, who will accept the application and send it to the governing head.
  • Ans: A PLI policy can easily be claimed by submitting a claim application in addition to all the documentation required at a post office. The claim will then be sent for sanctioning, and once that process is over, the policyholder may collect the payment of the claim from a post office.
  • Ans: The PLI maturity calculator uses your sum assured, maturity age, current age, year of policy purchase, and the trend of the previous year’s bonus rates to give an estimate of the expected maturity amount.
  • Ans: If you miss your PLI premium payments, your plan will lapse, and you will no longer be covered under the policy benefits.
  • Ans: You can update your email address and other contact information by visiting the post office and submitting a request letter.
  • Ans: The PLI calculator maturity amount can help calculate the maturity of PLI after 20 years. The maturity amount after 20 years differs for different plans and the different policy details along with the varied bonus rates.

Different types of Plans


Premium By Age

Postal-life-insurance articles

  • Recent Article
  • Popular Articles
top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL