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PLI Santosh Policy

PLI Santosh policy was introduced in 1884 as part of Postal Life Insurance policies. It is an endowment assurance scheme available for purchase in Post Offices across the country. Life cover under this policy is offered till the time the policyholder reaches the pre-determined age of maturity.

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What Is The PLI Santosh Plan?

PLI Santosh Plan is an endowment-based life assurance offering by Postal Life Insurance. The policy offers insurance cover against the death of the life assured till she/he attains the age pre-determined at the time of policy inception. The life assured can choose for the policy to mature at the age of 35, 40, 45, 50, 55, 58, or 60 years. The maturity age of the policy chosen upon policy issuance can be extended to mature at another age. 

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 at a rate of Rs. 52 per Rs. 1000 sum assured. 

  • The policy can be surrendered after a period of 3 years.

  • The bonus amount shall not ply 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 that 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%. 

  • For a sum assured above Rs. 1 Lakh, a medical examination is compulsory.

Eligibility Criteria

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

PLI Santosh Benefits

  • Death Benefit - On the death of the life assured the policy offers the entire death benefit amount to the assigned nominees. The nominees are required to intimate the insurer about the death within a stipulated time with proper documentation to claim the benefit. The amount is payable along with accrued bonuses at the rate described above.

  • Maturity Benefit - The sum assured on maturity is payable to the policyholder if she/he survives till the pre-determined age of maturity. The maturity benefit is payable along with the accrued bonus amount. 

Important Details Of The Santosh Postal Life Insurance Policy

  • Nomination / Assignment - The policyholder should assign a member at the time of policy inception to claim the benefit amount. 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 on the failure of due premium payments within the grace period. However, the policyholder may reinstate the policy within 6-12 months from the date of the first unpaid premium by paying all the due premiums along with interest. PLI Santosh can be reinstated as many times 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
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


  • 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 benefits 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 best 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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