Find your suitable insurance plan
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5 min read
Updated on Mar 07, 2023
The Postal Life Insurance (PLI) presents several beneficial insurance schemes targeted at the common people of the country. Like in Term Insurance plans, PLIs also offer death benefits to the nominee of the insured in case of death of the policyholder during the policy tenure. By using the PLI maturity amount calculator, one can evaluate the amount that a policyholder would pay as premium through the tenure of the policy as against the maturity benefits received by the insured at the end of the policy. Further, the PLI calculator maturity also helps the insured to find the sum assured earned at the time of policy maturity.
It is very simple to use the maturity calculator of PLI. The PLI maturity calculator is an online tool that can be found at the PLI official website and other insurance sites. Policyholders can use this tool freely and as many times as they want without any hassle. The calculator offers details of the premium amount that has to be paid as well as the maturity amount that the policyholder would receive at the end of the term if he/she outlives the plan. Further, in case of sudden demise of the policyholder, the nominee of the insured would receive death benefit under PLI plans.
Here are some details that an individual has to provide to use the online PLI maturity calculator:
The postal life insurance maturity calculator is a tool that is used to determine the amount paid as premium during the term of the policy as well as the maturity benefit earned at the end of the policy. There are many benefits of PLI maturity calculator online such as;
Here are some details required to provide while using the maturity amount calculator of PLI:
Being a digital tool, PLI maturity calculator helps in evaluating the PLI scheme maturity amount that the investor is likely to receive at the end of the policy term. There are many insurance providers offering numerous PLI plans, which makes it difficult to choose the best plan. Hence, it is suggested to use the PLI calculator so that the customer can purchase a policy to suit their needs.
Below are few reasons why a policyholder should choose a PLI maturity calculator:
Below are the benefits of Postal Life Insurance Policies:
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No, the investor isn’t required to provide details of medical history while using the PLI calculator. They just need to submit personal details such as age, gender, income etc. to check the premium.
INR 20,000 is the minimum sum assured under Postal Life Insurance (PLI) plans, while the maximum amount is INR 50 lakh for all the plans except the Bal Jeevan Bima plan, which is specifically designed for the child. The maximum sum assured of Bal Jeevan Bima plan is INR 3 lakh.
Yes, the PLI schemes allow tax benefits under section 80C of Income Tax Act, 1961. Hence, the policyholder can get tax exemption for the premiums paid under this plan.
Yes, a policyholder can pay multiple PLI policies at a time. The PLIs serve different classes of people equally. Depending on their investment needs and budget, an interested individual can decide the sum assured between INR 20,000 to INR 2,00,000.
Yes, a policyholder can surrender a PLI policy. However, the amount received as surrender value depends on different factors like terms of policy, surrender factor and type etc.
The minimum entry age is 19 years, while the maximum age of entry is 55 years.
A PLI plan can be purchased from any post office in India. Alternatively, you can buy a PLI plan online from the official website of India Post.
Yes, PLI premiums can be paid online from the official website of India Post.
PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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