Postal Life Insurance Online Premium Payment is an online service that helps the PLI Policyholders to make premium payments easily from anywhere in India. This service is possible due to the India Post Payments Bank (IPPB) and does not require policyholders to visit a post office, and saves their time and effort. Policyholders can make payments easily using their mobile or computer, with real-time confirmation and tracking. The online service offers multiple payment options and is available in both urban and rural areas, making it easier for policyholders to handle their policies.
PLI, or Postal Life Insurance, was initially launched to help people and has since grown into the oldest life insurance company in India, dating back to 1884. PLI has more than 50 lakh active policies and serves a wide range of people, including employees of the Central and State Governments, Public Sector Undertakings (PSUs), the Defence and Paramilitary forces, banks, local bodies, schools, and professionals like doctors, lawyers, chartered accountants, engineers, and MBAs. This program even covers employees of NSE and BSE.
The PLI Online Payment service, which is made possible by the India Post Payments Bank (IPPB), has made premium payments much easier by adding digital services. This online platform has made managing policies faster, easier to understand, and more convenient for customers.
With the extensive network of India Post, people can now pay and withdraw money easily, taking advantage of services such as instant account opening, direct benefit transfer (DBT), and affordable financial solutions, all under one roof. The postal system has indeed transformed itself into a one-stop financial solutions provider, especially for people living in far-off or rural areas.
PLI also runs a separate program called Rural Postal Life Insurance (RPLI) to reach more people who need it. This program offers cheap life insurance to people living in rural areas and those who are less well-off.
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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:
Customers can deposit their PLI premiums using the India Post Payments Bank (IPPB) mobile app. However, to transfer the amount, their IPPB account must be linked to the PLI online payment app.
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:
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.
IPPB's mobile banking application has NEFT services that allow customers to transfer funds nationwide electronically. This online postal payment system facilitates money transfers to any corporate organization, firm, or individual irrespective of their bank and branch in the country.
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.
UPI is a common and efficient way to transfer 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.
AePS is a postal online payment system that allows customers to make payments using their Aadhar Cards as a medium of identity. This payment method enables customers to perform all basic transactions, including making payments.
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
Customers can also deposit their PLI/RPLI premiums using their IPPB Micro ATM devices linked to their IPPB Accounts.
Customers can easily settle their PLI premium using their bank credit card. They must input their credit card information on the payment method page and adhere to the provided guidance.
Customers can conveniently make their Postal Life Insurance Premium Payment using their bank debit card. To do so, simply input your debit card details on the payment method page and follow the instructions..
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.
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.
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 adopted a new, customer-friendly approach by offering online payment services.
Postal Life Insurance (PLI) is the oldest life insurer in India. It also has an online customer portal where customers can view policy details and perform services such as premium payment.
To make the PLI Online Payment of Premium, using a credit card, follow the steps:
Step 1: Visit the official website of the Postal Life Insurance Company
Step 2: Scroll the home page and click on the 'Login section' present on the bottom right part of the page
Step 3: Click on the option ‘Policyholders’ to log in, and then you will be redirected to the PLI login online payment portal
Step 4: Click on ‘Generate Customer ID' if you're a 1st-time user
Step 5: A pop-up will appear, where you must enter your sum assured, policy number, gender, date of birth, name, and contact information.
Step 6: Once you have entered all the required information, click ‘Submit’ to get the customer ID.
If you already have a customer ID, you can log in directly by entering your ID and password in the required fields.
Step 7: After logging in to the PLI Online portal, you can easily access your policy details, including premium payment options.
Step 8: Click on ‘Premium payment option’ and submit all the credit card details to pay premiums via credit card.
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The online payment process for Postal Life Insurance Premium Payment provides numerous user benefits. Here are some of the benefits of Online Postal payments:
Fast Services
Upon opening an account, either through instant account-opening services at the doorstep or at post office counters, fast Aadhaar-based direct benefit transfer is possible.
24*7 Money Transfer
The postal online payment process allows simple, secure money transfers throughout the day, making bill payments easy and instant.
Cost-effective Approach
Registering and accepting digital payments is free, making the process cost-effective even for people with limited financial resources.
Ease in Payment through an App
The IPPB's 'Merchant App' enables customers to easily transfer money by downloading it on their smartphones. Tracking transaction history helps build credit.
Drive for Digital India
The PLI Online Payment process drives India's digital readiness. Hence, users no longer fear losing cash or coins, as it provides a simple, hassle-free experience.
*All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C Apply
The basic conditions for PLI Online Payment are as follows:
Your contact information must be registered in your PLI policy.
Your email address should be linked to your PLI policy.
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 Insurance Plan which can be easily done from the Policybazaar website.
Here are the differences between PLI Online Payment and PLI Offline Payment:
| PLI Online Payment | PLI Offline Payment | |
| Payment Method | 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. |
| Requirements | 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. |
| Payment Process | 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. |
Various government schemes, like Pradhan Mantri Jeevan Jyoti Bima Yojna, allow payments to be made using this process. Launched by the government of India, it ensures the family's future with a life cover of Rs. 2 Lakhs for one year at an affordable premium.
It is available for those who have and account in the India Post Payments Bank and are between 18 and 50. Cover is up to the age of 55.
Under the revised structure, the annual premium is Rs. 330 for enrolments in June, July, or August. For enrolments in September, October, or November, a three-quarter premium of Rs. 86 is applicable.
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.
IPPB provides this product along with PNB MetLife India Insurance Company Limited. The payment can be easily made using the mobile application.
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:
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.
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
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
You can easily make PLI Online Payment using the information provided below:
| PLI Website | https://www.indiapost[dot]gov[dot]in/ |
| PLI Web Portal | https://pli[dot]indiapost[dot]gov[dot]in/ |
| PLI Payment Link | https://pli[dot]indiapost[dot]gov[dot]in/CustomerPortal/PSLogin[dot]action |
Here are some thing that you must keep in mind regarding the PLI Premium Payments:
Importance of Premium Payment: You must pay your premiums on time to avoid lapsation
Consequences of Non-Payment: Here are a few consequences of non-payment of PLI premium:
Policy lapsation results in loss of life cover
Life risk is generally not covered during lapsation
Late fee is charged for delayed payments
Payment Schedule: Premium should be paid in advance on the first day of each month. However, the grace period extends until the last working day of the month.
Policy Details to Note: You should always check the Policy Bond for the following details:
Date of commencement
Due date
Mode of payment (yearly, half-yearly, quarterly, monthly, etc.)
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