PLI Santosh Policy

The PLI Santosh Policy is one of the most popular endowment assurance plans offered under Postal Life Insurance (PLI). First introduced in 1884, it is designed to provide policyholders with life cover and savings benefits. Available through post offices across India, the PLI Santosh policy offers financial protection to the insured's family in case of an unfortunate event, while also paying a lump sum at maturity if the policyholder survives the term. With guaranteed returns, affordable premiums, and tax-saving benefits, the Santosh policy is ideal for long-term financial security and disciplined savings.

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What Is The PLI Santosh Plan?

The PLI Santosh Plan is an endowment assurance policy offered by Postal Life Insurance. It provides life cover to the insured until the chosen maturity age, ensuring financial protection for their family in case of an unfortunate event. At the time of purchase, the policyholder can select a maturity age of 35, 40, 45, 50, 55, 58, or 60 years. The chosen maturity age can also be extended later, offering flexibility and guaranteed savings and insurance benefits.

Key Features Of Endowment Assurance Policy - PLI Santosh

The entire sum assured on death is payable to the nominees/legal heirs along with accrued bonuses.
Policyholders are entitled to bonuses of Rs. 52 per Rs. 1000 sum assured.
The policy can be surrendered after a period of 3 years.
The bonus amount shall not be paid if the policy is surrendered before 5 policy years.
The loan facility can be availed against the acquired surrender value after 3 years.
The maximum loan can be availed of is 90% of the surrender value.
PLI Santosh interest rate against the loan availed has to be paid half-yearly. The interest rate charged is 10%.
A medical examination is compulsory for a sum assured above Rs. 1 Lakh.

Eligibility Criteria of PLI Santosh

Criteria	Minimum	Maximum
Entry Age	19 years	55 years
Maturity Age	35, 40, 45, 50, 55, 58, or 60 years
Loan Facility	NA	90% of the Surrender Value
Sum Assured	Rs. 20,000	Rs. 50 Lakhs
Who can buy?	Employees belonging to the following organizations/services: Central Government State Government Public Sector Undertakings Para Military Forces Defence Services Government-aided Educational Institutions Local Bodies Reserve Bank of India Financial Institutions / Nationalized Banks / Commercial Banks Autonomous Bodies Department of Posts Universities accredited by the NAAC, All India Council of Technical Education, Medical Council of India, etc. Credit Co-operative Societies Doctors, Engineers, Management Consultants, Architects, Lawyers, Charted Accountants

Benefits of PLI Endowment Assurance Santosh Plan

Death Benefit - In the event of the policyholder's death during the policy term, the full sum assured is paid to the nominated beneficiary. The benefit amount includes the accrued bonuses applicable under the plan. To claim, nominees must notify the insurer within the prescribed time and submit the required documents.
Maturity Benefit - If the policyholder survives until the selected maturity age, the sum assured is paid out along with the accrued bonus. This ensures both protection during the term and a guaranteed payout at maturity.

Important Details Of The Santosh Postal Life Insurance Policy

Nomination / Assignment - The policyholder should assign a member to claim the benefit amount at the time of policy inception. If the assignee is a minor, a guardian must be appointed to claim the benefit in the name of the child.
Policy Lapse - The policy shall lapse if the premium payments are not made within the grace period. However, the policyholder may reinstate the policy within 6-12 months from the first unpaid premium by paying all the due premiums and interest. PLI Santosh can be reinstated as often as the policyholder wishes within the policy term.
Policy Revival - The policy can still be revived before maturity if it crosses the reinstatement period. This can be done on the submission of the following:
- An application to the Postmaster General / Head of Division / Postmaster of the nearest Central Processing Centre (GPO / Head Post Office).
- Payment of all arrears of outstanding premiums plus interest
- Proof of insurability from an authorized medical examiner
- Certificate from the employer as proof that the policyholder was not on medical leave
Free look Period - The policyholder may choose to cancel the policy within 15 days from the date of policy issuance. In such cases, the premiums paid are returned back to the policyholder.

How To Calculate Premiums For PLI Santosh Endowment Assurance Policy?

You can either use the India Post Payments Bank’s (IPPB) mobile application called Postinfo or the official website of India Post. There is a PLI Santosh premium calculator tool on these platforms that allow you to estimate premium quotes prior to purchase. Here is a step-by-step guide on calculating the premiums using the PLI Santosh premium calculator. And similarly, term policy calculator can be used to calculate the term insurance premium rates.

Visit the website of India Post and click on Postal Life Insurance.
You shall be redirected to an external page; click on OK to proceed.
Scroll to ‘Purchase a Policy’ and click on ‘Quote’ from the available functions.
Enter the requested fields, including contact details, date of birth, gender, residence, sum assured, etc.
Under Product Type, select PLI.
Under Product Name, select Santosh.
Select the Age at Maturity from the options per your convenience. This is the age at which the policy will mature.
Enter the letters as shown in the captcha below.
This will give you the monthly, quarterly, half-yearly, and yearly premium quotes against the sum assured opted for.
If you are comfortable with the premiums, you can proceed to buy the cover by clicking on Select.
If not, you can scroll down and click on Recalculate to calculate and compare quotes of other policies or change the features, sum assured, etc.

PLI Santosh Premium Table

The following is the PLI Santosh premium chart displaying half-yearly premium quotes for a sum assured of Rs. 20,000 across different maturity ages.

Entry Age	Maturity Age
Entry Age	35 years	40 years	45 years	50 years	55 years	58 years	60 years
25 years	Rs. 1105	Rs. 1338	Rs. 966	Rs. 372	Rs. 302	Rs. 278	Rs. 254
30 years	NA	Rs. 1105	Rs. 704	Rs. 491	Rs. 396	Rs. 349	Rs. 325
35 years	NA	NA	Rs. 1105	Rs. 704	Rs. 514	Rs. 443	Rs. 396
40 years	NA	NA	NA	Rs. 1129	Rs. 704	Rs. 585	Rs. 514

FAQs

What is the PLI Samtosh policy?

The PLI Santosh policy is an endowment assurance plan under Postal Life Insurance (PLI). It provides both insurance coverage and savings benefits. If the policyholder passes away during the policy term, the nominee receives the sum assured along with bonuses. If the policyholder survives the term, they get the maturity benefit, which includes the sum assured plus accrued bonuses.
What is the PLI for 10 lakhs?

Yes, Postal Life Insurance allows high cover amounts. The maximum sum assured under PLI policies can go up to ₹50 lakhs, subject to eligibility and underwriting. So, a ₹10 lakh PLI Santosh policy is possible. The premium will depend on your age, policy term, and medical fitness.
What is the rate of interest for PLI Santosh?

The rate of interest charged is 10% against your loan under PLI Santosh.
How to buy the PLI Santosh Policy?

The policy can be bought online or offline. Online modes include the India Post’s website and IPPB’s mobile application called Postinfo. The policy can be bought offline by visiting any of the nearest post offices.
How to pay premiums for the PLI Santosh scheme?

Premiums for PLI Santosh can be paid at any Post Office in India or online through the website of the Department of Posts.
Does the PLI Santosh policy cover death due to suicide?

The Santosh scheme does not cover deaths due to suicide occurring within two policy years.
What are the benefits of term life insurance?
Ans: Here are 4 common term life insurance benefits:
- Low premium rates
- Tax Benefits
- Death Benefit
- Long term coverage
What are the key features of term life insurance?
Ans: Below mentioned are the key features of a best term life insurance in India:
- Affordable premium rates
- Long-tenure life protection
- Easy to understand and buy
- Riders availability
- Whole life protection
- Tax benefits
What are the key features of a term insurance plan in India?

Ans: Let's understand what is term plan here. Term insurance offers financial protection for a certain period to the policyholder, thereby, offering a lump sum payout if the policyholder unfortunately passes away during the policy term.

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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

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*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

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Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

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Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

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