PLI Santosh Maturity Calculator

Postal Life Insurance (PLI) Santosh 

The Postal Department has introduced a Postal Life Insurance scheme – Santosh in which an individual i.e., the proponent is offered an assurance to the extent of the sum assured amount and accumulated bonus till the time he/she reaches the pre-specified maturity age. In case of unforeseen demise of the policyholder, the nominee or legal heir or assignee is paid the entire sum assured along with the accumulated bonus. 

Main Highlights of PLI Santosh Scheme 

• The minimum entry age is 19 years and the maximum entry age is 50 years. 

• The maximum sum assured amount is Rs. 20 lakhs 

• Assignment/Nomination facility is available. The policyholder can nominate the individual to whom the amount of claim shall be payable in the event of his/her demise. 

• The policyholder can pay his/her premium in advance on the 1st day of each month. However, grace time is allowed up to the last working day of the month. 

• Eligible for a loan after paying premiums for 36 months (3 years). 

• If the scheme has been active for at least 3 years, it can be surrendered for payment on a reduced sum assured amount up to the date for which premiums have been paid. 

• Endowment assurance at some age can be converted to endowment assurance plan maturity at some other age. 

• For PLI Policies such as anticipated endowment assurance, endowment assurance, convertible whole life insurance, whole life insurance, anticipated endowment assurance, sum assured amount up to Rs. 1 Lakh to make a medical plan and non-medical plan as optional. 

• The policyholder may get the plan cancelled within 15 days and on such cancellation, the premium amount paid by the policyholder will be refunded after deducting all the medical rates. 

About PLI Santosh Endowment Assurance Scheme Calculator 

Performing simple tasks has become a lot more convenient and less time-consuming with the use of the PLI Santosh Maturity Calculator. PLI Santosh maturity payouts can now be estimated with a single click. Before investing in any life insurance plan, an estimate of the returns should always be made using PLI Santosh Calculator. 

PLI Santosh Maturity Calculator is a comprehensive and easy-to-use tool that helps in calculating the maturity amount for any insurance scheme. The maturity benefit calculator benefits the customer by offering an estimate of the returns and also helps plan the future finances. This freely available online tool considers certain factors such as age, policy term, and the sum assured that offers you the right estimate on the maturity amount. 

Apart from this, the PLI Santosh Surrender value calculator and PLI Santosh Bonus Calculator also provide you an estimate of the surrender amount, loan, bonus, paid-up, and projected maturity amount based on the total premium paid. 

Why Should You Use the PLI Santosh Endowment Assurance Scheme Calculator?  

The post office Santosh plan calculator helps customers to make comparisons and choose a plan that will provide maximum benefit to him/her. Below are the reasons why a customer should use a maturity calculator” 

• It helps to compute the policy maturity amount free of cost and in a very short time

• It compares different plans and helps in making an informed decision

• Provides customer a clear idea of the sum to be received upon policy maturity and therefore helps the individual in planning his/her finances for the future. 

How to Calculate the PLI Santosh Maturity Amount? 

Following is the step-to-step guide to use PLI Santosh Calculator: 

• Visit the official website of Postal Life Insurance 

• Click on ‘Buy Policy’ option, placed at the right side of the page 

• Now you will be redirected to a new page wherein basic information is required to be entered correctly 

• After providing the information, enter the captcha image and click on ‘Get Quote’. 

• The postal life insurance monthly premium and the maturity benefit will be displayed on the screen. 

Details Required While using PLI Santosh Maturity Calculator 

Listed below are the details required while using PLI Santosh Maturity Calculator: 

• Personal Details such as customer’s age, name, gender, date of birth, policy type, email, contact number, occupation, etc. 

• Health details: Whether or not the customer is a smoker and if he/she is suffering from any serious illness 

• Desired sum assured amount

• An estimate of the buyer’s future financial objectives and financial constraints to find a right policy 

Advantages of Using PLI Santosh Maturity Calculator 

PLI Santosh Maturity Calculator helps determine the amount of premium that a customer will be expected to pay during the policy term and the maturity value that one can expect to receive once the policy has matured. PLI Santosh Calculator offers a number of benefits: 

1. Easily Available  

   The PLI Endowment policy Santosh calculator is available online at the PLI’s official website and can be used at any time at per convenience of insurance buyers. 

2. Reduces Manual Tasks 

   It eliminates the cumbersome task of manually going through all the plans and making a comparison to find a plan that best fits the requirements of a customer. Now you can easily calculate the premium using PLI Santosh Maturity Calculator online without visiting the post office and standing in long queues. 

3. Assists in financial planning 

   The maturity calculator provides an estimate of the premium amount and also of the maturity value. This helps the buyer to plan his/her finances accordingly. 

4. Helps you choose additional coverages 

   You can choose to add riders' benefits available under the chosen term insurance plans that increase the life insurance cover of a base term plan. With PLI Endowment Policy Santosh Calculator, you can avail yourself of the highest possible life coverage amount that suits your budget.  

Factors Affecting the PLI Santosh Premium Rates 

Calculating the premium and the maturity amount is a thorough process that depends on various parameters. Let’s discuss each factor in detail: 

1. Age

   The lower the age of the policyholder, the lower the premium amount is likely to be. This is because the possibility of the insurable condition, which is the policyholder’s demise, is more likely to occur as the age of the policyholder increases. 

2. Gender

   Some insurance companies charge lower premium rates for women because as per the research women tend to live longer than men do. 

3. Medical History 

   Any record of a critical ailment in your medical or family history such as cancer diabetes, Alzheimer’s disease can trigger higher premium rates. 

4. Policy tenure 

   The longer the policy tenure, the higher the sum assured amount of the policy. So long-term insurance plans are more expensive than short–term insurance plans. 

5. Lifestyle 

   Some term plan calculators are also required to fill in the details regarding your lifestyle like whether or not you are a smoker, whether you consume alcohol or not. Individuals with poor lifestyle habits are usually charged a high term insurance premium than individuals of the same gender and age who have better lifestyle habits. 

6. Frequency of Premium Payment

   Term plans come with different premium payment modes. Based on the terms of each policy, you can select from options such as monthly/quarterly/half-yearly/annually. This option also affects the term insurance maturity value which is usually lower for half-yearly or annual payment frequencies. Whereas, premium amounts paid monthly or quarterly may be higher.