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PLI Online Payment

PLI full form is Postal Life Insurance and ir was initially introduced as a welfare scheme. PLI is now the oldest life insurer in the country, with its origin dating back to 1884. With over 50 Lakh policies, covering Central & State Government Employees, PSUs, Defence & Paramilitary Services, Banks, Local Bodies (like doctors, lawyers, CAs, engineers and MBAs), Educational Institutions, and NSE/BSE Employees, Postal Life Insurance has benefitted the lives of many Indians. It also helps the rural people with the Rural Postal Life Insurance, and offers insurance cover to the weaker sections of rural construct. The PLI Online Payment option through the Indian postal payment bank has made the premium payment services faster. 

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People can pay and receive money easily using the postal network. It is a one-stop financial services provider that allows instant account opening and direct benefit transfer facilities.

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What Are The Postal Life Insurance Online Payment Options?

There are several ways to make PLI Online Premium Payment. All the methods are easy to follow for the users and have their own set of steps.

Here is a list of premium payment methods to pay PLI online payment:

  1. PLI Online Payment By Mobile Banking

    The India Post Payments Bank (IPPB) mobile app can be used by the customers to deposit their PLI premiums. However, they must have their IPPB account linked to the PLI online payment app to transfer the amount.

  2. PLI Online Payment By Fund Transfers

    The customers have various options to choose to make an online payment or transfer funds to another account. These services are hassle-free and available anytime, anywhere throughout India. Here are two major ways of fund transfer processes:

    • Immediate Payment Service (IMPS)

      IMPS is a commonly used method to transfer money electronically to anyone holding an account with any bank. The best part of this facility is that it can be done 24*7 and the amount gets credited instantly in the receiver's account, even in the holidays. This facility is available in the mobile banking application.

    • National Electronic Fund Transfer (NEFT)

      The mobile banking application of IPPB has NEFT services that allow the customers to electronically transfer funds throughout the nation. This Online Postal Payment system facilitates money transfer to any corporate organization, firm, or individual irrespective of their bank and branch in the country.

  3. PLI Online Payment By Real-Time Gross Settlement (RTGS)

    The online postal payment system also has the RTGS facility for enabling the customers to perform transactions above the value of Rs. 2 Lakhs. By using the account number and IFSC code, funds can be transferred using the mobile banking app.

  4. PLI Online Payment By Unified Payments Interface (UPI)

    UPI is one of the common and efficient ways of transferring money using the micro ATM and CBS applications. It is the assisted model of IPPB, and they are the first of its types in India. This assisted model enables the customers to transact without downloading any UPI app or registering their debit card. Each customer gets a Virtual payment address ID, which helps to make payments.

  5. PLI Online Payment By AADHAAR Enabled Payment System (APIs)

    AePS is a Postal Online Payment system that allows the customer to make the payment using an Aadhar Card as a medium of identity. This payment method enables the customer to perform all the basic transactions apart from making payments.

  6. PLI Online Payment By QR Card

    IPPB introduced the QR card that is a secure way to make payments without remembering the account number or the password. The transactions take place using the OTP (one-time-password) along with valid, officially valid documents. In case the QR card gets lost, the money remains safe in the account as each transaction requires OTP authentication. These are the steps to use the QR card:

    • First, scan the code wherever you want to make the payment.

    • Authenticate the transaction using OVD validation and OTP verification.

    • Now, complete the required transaction

  7. IPPB Micro ATMs

    The customers can also use their IPPB Micro ATM devices linked to their IPPB Accounts to deposit their PLI/RPLI premiums.

  8. Credit Card

    Customers can settle their PLI premium with ease by using their bank credit card. All that's needed is to input their credit card information on the payment method page and adhere to the provided guidance.

  9. Debit Card

    Customers have the option to conveniently make their PLI premium payments using their bank debit card. Simply input your debit card details on the payment method page and follow the provided instructions.

  10. UPI Apps

    This method offers a more advanced and speedy premium payment option, utilizing various UPI apps like Google Pay, Paytm, PhonePe, and more.

*Note: The customer is responsible for covering any debit/credit or other transaction charges in accordance with the prevailing regulations.

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What Are The Benefits Of Using PLI Online Payment Process?

The online payment process of the Postal Life Insurance provides numerous benefits to its users. Here are some of the benefits of Online Postal payments:

  1. Fast Services

    Upon opening an account either through instant account opening services at the doorstep or in post office counters, fast Aadhaar based direct benefit transfer is possible.

  2. 24*7 Money Transfer

    The Postal Online payment process allows simple and secure money transfer throughout the day. It makes paying the bills easy and instant.

  3. Cost-effective Approach

    As there are no charges for registering and accepting digital payments. Moreover, it makes the process cost-effective even with people of low economic background.

  4. Ease in Payment through an App

    The IPPB's 'Merchant App' enables the customers to easily transfer money by just downloading the app on their smartphones. Tracking of the transaction history aids in building the credit score.

  5. Drive for Digital India

    The PLI Online Payment process acts as a drive for making India ready digitally. The fear of losing cash and coins is, hence, removed as it provides the users with a simple and hassle-free experience.

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

What Are The Basic Conditions For Online PLI Payments?

The basic conditions for PLI Online Payment are as follows:

  1. Your contact information must be registered in your PLI policy.

  2. Your email address should be linked to your PLI policy.

  3. Policyholders need to visit the nearest post office to update their mobile number and email address in the system, typically by submitting a written request.

*Note: The process of PLI Online Payment of premium is much similar to that of the Term Life Insurance which can be easily done from the Policybazaar website.

What Is The Process Of PLI Online Payment Using Credit Card?

Before the introduction of the online payment process, paying premium payments was a lengthy process that required you to visit the bank branches and stand in long queues. However, insurers have now started a new customer-friendly approach by providing their payment services via online mode.

Postal Life Insurance (PLI) is the oldest life insurer in India and also has an online customer portal where customers can view the policy details, and also carry out services such as premium payment.

To make the PLI Online Payment of Premium, using a credit card, follow the below-mentioned steps:

  • Step 1: Visit the official website of Postal Life Insurance Company

  • Step 2: Scroll the home page and click on the ‘Login section’ present on the right bottom part of the page

  • Step 3: Click on the option ‘Policyholders’ to log in and then you will be redirected to the PLI login portal

  • Step 4: Click on ‘Generate Customer ID’, if you’re a 1st-time user

  • Step 5: A pop-up will appear in which you have to enter your sum assured, policy number, gender, date of birth, name, and contact information.

  • Step 6: Once all the required information is entered, then click on the tab ‘Submit’ to get the customer ID.

    1. If you have a customer ID already, then you can directly log in by entering the details such as ID and password in the required fields

  • Step 7: After logging into the PLI Online portal, you can easily access your policy details, such as options of paying premiums.

  • Step 8: Click on ‘Premium payment option’ and submit all the credit card details in order to pay premiums via credit card.

What Is The Difference Between Online and Offline Payment Process Of Postal Life Insurance?

Here are the differences between PLI Online Payment and PLI Offline Payment:

PLI Online Payment PLI Offline Payment
In the Postal Online Payment method, the payment is made using one of the multiple services of the mobile app of India Post Payments Bank (IPPB). In the Postal offline payment method, the payment can be made from any of the post offices. 
All that a customer needs is internet access and online banking details.  This process requires the customer to visit the post office in person with the required documents. 
The process takes place through an online payment gateway. The entire process is virtual and transfers the funds easily. It is a time taking process, and the biggest disadvantage is that the transactions can be made only during working hours. If you need to make the payment and that day is a holiday, then you can't.

What Are The Information Required While Using the Online Process Of Premium Payment?

  • There are various Government schemes, like, Pradhan Mantri Jeevan Jyoti Bima Yojna, for which payments can be made using this process. Launched by Govt. of India, it ensures securing the future of the family with a life cover of Rs. 2 Lakhs for one year with an affordable premium.

  • It is available for those who have an account in the India post payments bank and are in the age group of 18 years to 50 years. The cover is up to the age of 55 years.

  • As per the revised structure, the annual premium payable by customer for the enrolment period of June, July, and August is Rs. 330, and for September, October, and November, a three-quarters premium of Rs. 86.

  • Once the amount is auto-debited from the customer's account, then the initial waiting period is for 45 days. Within this time, they have to enroll for the first time. However, the waiting period is not applicable if the cover is renewed for the next year.

  • This product is provided by IPPB along with PNB MetLife India Insurance Company Limited. The payment can be easily made using the mobile application.

How To Register and Login in PLI Portal?

PLI login and registration involves very simple steps. You can register online at the PLI Customer Portal by using your mobile number, PLI policy number, and e-mail ID. Here is a step to step guide to register in PLI Portal for online payment:

  1. Generate Customer ID

    • Visit the official website of India post PLI, also called PLI Customer Portal

    • Click on ‘Generate Customer ID’ and then fill out all the required details as per the policy documents of your PLI

    • Then, click on ‘Submit’.

    • After choosing the tab ‘Submit’, a pop up will appear i.e., the Registration link and customer ID will be sent to your registered email address within 24 hours

    • The provided link will only be valid for 72 hours. It is important to visit the registration link before 72 hours.

  2. Generate Your Password

    • After clicking on the link which is received in your email ID, the ‘Set Password’ page will open.

    • Enter the password as per the given instructions and then click on ‘Set Password’

    • You will get a message that says “Your account has been successfully registered”.

    • You can log in to the PLI customer portal using your credentials after 24 hours.

    • Now, pay PLI premium online for your plan using a debit/credit card

  3. Log in to Customer PLI Online Portal and Proceed to Pay PLI Premium Online

    • After 24 hours of setting a password, you can log in to the PLI Customer portal

    • Enter your Customer ID, Password and Captcha to log in

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

How To Download PLI Online Payment Receipt?

Here are the steps to download PLI Online Payment Receipt:

Step 1: Visit the official "India Post" website and click on the "Login" option.

Step 2: Navigate to the 'Tools and Utilities' section and choose "Payment History."

Step 3: Enter your PLI policy number, and click on 'Get Payment History.'

Step 4: You can then download the payment receipt online and save it for future reference.

*Note: It is recommended that you first know what is term insurance and what its key features are before you buy term plan or any plan from PLI.

PLI Online Payment 2024

You can easily make PLI Online Payment using the information provided below:

Subject PLI Premium Payment 2024
PLI Website https://www.indiapost.gov.in/
PLI Web Portal https://pli.indiapost.gov.in/
PLI Payment Link https://pli.indiapost.gov.in/CustomerPortal/PSLogin.action

FAQ's

  • Do I have to pay GST on premium payments?

    Ans: No, GST is not applicable on the premium payments.
  • Does insurance benefit those above 50 years?

    Ans: Yes, the benefit is applicable till the age of 55 years for those who continue to renew and pay the premium without fail till the age of 54 years.
  • What is the process of paying the premium?

    Ans: Usually, the premium gets deducted automatically in the auto-debit option in one installment. This option helps in giving the enrolment. Every year members have the option to choose for the auto-debit, or it can be just a one-time mandate. The process of premium payment depends on the re-calibration needed from year to year.
  • Can anyone re-join the scheme?

    Ans: If anyone exists the schemes at any point due to any reason, they can easily rejoin the scheme whenever they want in the coming years by making the payment of the annual premium amount. However, they are not eligible for benefits upon death except in case of an accident for the first four to five days after enrolment of the scheme.
  • When the assurance of the insurance terminates?

    Ans: The assurance of the life insurance may terminate upon attaining 55 years of age, closure of the account with the bank, insufficient balance, or member is covered another premium through one more account. In the case of dual life coverage, the life cover is restricted to only Rs. 2 Lakh, and all the duplicate insurance premium amounts get forfeited.
  • How is the premium amount appropriated?

    Ans: The premium amount is Rs. 289 per annum for each member. Whereas reimbursement of Rs. 30 is done to India post payments bank and Rs.11 is provided as reimbursement of administrative expenses by each member every year to India post payments bank.
  • What are the documents required to make online postal payments using a QR card?

    Ans: While using the QR card for the payments, individuals need only the QR card and OVD validation documents.
  • Which Postal Online payments process is applicable for payment of more than Rs.2 Lakhs?

    Ans: For the Postal online payments of more than Rs.2 Lakh, RTGS is considered best. The real-time Gross settlement method enables you to easily make the payment by using the account and IFSC code.
  • What are different modes of transferring funds through Indian postal networks?

    Ans: Immediate Payment Service (IMPS), National Electronic Fund Transfer (NEFT), Real Time Gross Settlement (RTGS), Unified Payments Interface (UPI), and AADHAAR Enabled Payment System (APIs) are common modes of transferring funds through Indian postal networks.
  • How do I update my mobile number and email ID in PLI policy?

    Ans:
    • Step 1: Visit the branch of PLI 
    • Step 2: Write an application for updating your mobile number and email ID in PLI (Postal Life Insurance). 
    • Step 3: Submit the application to the Post Office.

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