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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.
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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.
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.
Here is a list of all the benefits of using the PLI calculator maturity amount:
The PLI maturity calculator is available online, and you can use the calculator easily at any time at the convenience of the customer.
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.
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.
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.
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
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.
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:
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.
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.
The policyholder is allowed to switch nominees at any time during the PLI scheme policy tenure.
You can claim postal life insurance tax benefits to their policyholders under the Income Tax Act, Sec 80C.
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.
PLI offers the facility of assigning the policy to a financial institution in case the policyholder wishes to take a loan on it.
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 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.
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+All savings provided by insurers as per IRDAI approved insurance plan. Standard T&C apply.
