What is the Army Postal Life Insurance Plan – Check Eligibility, Features & Benefits

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Life insurance secures our families against unforeseen incidents, the armed forces protect the country against unseen enemies both within and outside the borders. Army sacrifices blood and sweat to keep our country and its citizens safe and sound. Hence, the government takes many measures to ensure the safety and security of the army personnel and their families. Thus, the government introduced the Army Postal Life Insurance in 1975 for their benefit. Let’s get into the details here!

The primary purpose of introducing the Army Postal Life Insurance is to safeguard and secure the families of Army personnel. The scheme is offered through the Army Postal Service (APS) Department of India. It provides life coverage to people employed under the Indian Armed Forces at a low premium compared to the general public.

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Army Postal Life Insurance – Eligibility 

The Indian Army, Postal Service PLI, is open for defense personnel of all ranks, including BSF, CISF, short service commission, border roads, and so on. Even the noncombatants or people who are not engaged in fighting during a war, like Army doctors, clergy, etc., are also eligible if they pay the premiums in cash. Several plans with distinct premiums and benefits are available under Army PLI for different age groups.

Armed Forces Postal Life Insurance – Limits 

Criteria

For Officers and JCOs

Other Ranks

Minimum amount (INR)

2,000

10,000

Maximum amount (INR)

20 lakhs

20 lakhs

The sum assured under such plans is multiples of 10,000, and the minimum sum assured is INR 20,000 under the Yugal Suraksha plan.

Army Postal Life Insurance – Features 

Below are some features of Army PLI that can be enjoyed by military personnel:

1. Loan:

The insurance scheme gives them the option to avail of a loan facility against the PLI as collateral. The option is available after 3 years of the plan in case of endowment assurance policies and 4 years in case of whole-life plans

2. Renewal:

The armed personnel are allowed to revive a PLI that has lapsed in the below situations:

If the policy term is less than 3 years and has lapsed after 6 non-payment of premiums

If a policy is more than 3 years old and has lapsed due to 12 continuous non-payment of premiums

3. Nomination:

The Army PLI lets the insured nominate their nominee and has the option to change the nominee if required

4. Policy Conversion:

Army PLI schemes also allow the insured to switch plans from whole life insurance to endowment and so on

5. Policy Copy:

The insured under the plan can receive a duplicate copy of the policy if they misplace or lose the original paper  

Army Postal Life Insurance – Benefits

Below are some benefits that army personnel can avail of through the Army PLI:

  • Like in other insurance plans, tax saving is one benefit that the Army PLI plans offer
  • These plans are available at cost-effective prices as compared to other regular plans
  • The insured can track the premium, which can be paid on a yearly, half-yearly, or monthly basis
  • The nomination facility is also there under Army PLI plans
  • These plans come with a smooth and quick claim settlement procedure
  • The policyholder is not required to undergo medical tests under most plans

6 Types of Army Postal Life Insurance Schemes

 Here are some life insurance plans available under Army PLIs:

1. Suvidha – Convertible Whole Life Assurance

This is a PLI plan for the whole life and has the option of converting the policy to an endowment assurance plan after 5 years of its commencement.

Below are the details of the policy:

Key features 

Details 

Eligibility 

Min. entry age -19 years

Max. entry age – 50 years

Premium 

Depends on the age of the policyholder and the sum assured of the policy

Sum assured 

Min – INR 2000, Max – INR 50 lakhs

Loan option 

Available after 4 years of policy

Surrender option 

Available after 3 policy years, and the value is paid after 4 years

Surrender terms

No bonus is paid if the policy is surrendered before 5 years

Policy conversion option Can be converted to endowment plans after 5 years of commencement of plan
Nomination facility 

Available

2. Suraksha – Whole Life Insurance 

The sum assured under this scheme is paid to the insured either on turning 80 years old or to the nominee of the life assured after the death of the policyholder (whichever is earlier). However, the plan has to be active at the time of the claim.

 Below are the details of the policy:

Key features 

Details 

Eligibility 

Min. entry age -19 years

Max. entry age – 55 years

Premium  Depends on the age of the policyholder and the sum assured of the policy
Sum assured 

Min – INR 2000, Max – INR 50 lakhs

Loan option 

Available after 3 policy years

Surrender option 

Available after 3 policy years

Surrender terms

No bonus is paid if the policy is surrendered before 5 years

Policy conversion option

Can be converted to endowment plans

Nomination facility 

Available

3. Yugal Suraksha – Joint Life Assurance 

This policy allows the insured to include spouses under the PLI plan. Thus, both the insured and the spouse can have life coverage up to the sum assured, along with the accumulated bonus. The plan is available with a single premium amount.

Here are the key features:

Key features 

Details 

Eligibility 

For both policyholder and spouse:

Min. entry age -21 years

Max. entry age – 45 years

Policy term

Min – 5 years, Max – 20 years

Loan facility 

After 3 years of policy

Nomination facility 

Available

Surrender option 

Available after 3 years

4. Santhosh – Endowment Assurance 

This plan entitles the policyholder to receive the sum assured as well as an accrued bonus in the form of a maturity benefit. If the policyholder dies suddenly, the nominee of the plan can claim a death benefit together with the accumulated bonus.

Here are the key details of the plan:

Key features 

Details 

Eligibility 

Min. entry age -19 years

Max. entry age – 55 years

Premium 

Depends on the age of the policyholder and the sum assured of the policy

Sum assured 

Min – INR 2000, Max – INR 50 lakhs

Loan option 

Available after 3 years of policy

Surrender option 

Available after 3 policy years

Surrender terms

No bonus is paid if the policy is surrendered before 5 years

Nomination facility 

Available

5. Sumangal – Anticipated Endowment Assurance

This money-back policy offers INR 50 lakhs as the maximum sum assured. It suits people who are looking at periodic returns. The policyholder also is entitled to survival payouts periodically. If the life assured dies suddenly, the sum assured is paid to the nominee along with the accumulated bonus.

Here are some key features of the plan:

Key features 

Details 

Eligibility 

For 20-year policy term:

Min. entry age -19 years

Max. entry age – 40 years

For 15-year policy term:

Min. entry age -19 years

Max. entry age – 40 years

Policy term

15 and 20 years

Sum assured 

Max – INR 50 lakhs

Nomination facility 

Available

Survival benefit 

Available periodically depending on policy terms

6. Children’s policy

This policy covers the children of armed personnel. Under this policy, coverage is provided from day 1 of buying the policy, and it doesn’t require the insured to go through any medical tests.

Here are some features of the plan:

Key features 

Details 

Sum assured 

Min -INR 20,000

Max – INR 1 lakh

Assignment facility 

Available

Nomination facility 

Available

Payout 

The sum assured and accumulated bonus is paid at plan maturity.

Coverage 

Coverage under the plan starts from day 1 after the first payment of premium

 Army Postal Life Insurance – Status

To check the status of Army PLIs, any of the below-mentioned ways can be followed:

  • Through the online account of postal life insurance
  • Through email at pli.dte@gmail.com
  • Visiting the India Post official website
  • Through postal life insurance customer care at 1800115699 toll-free number

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To Conclude

The Army PLI plans are very effective, low-cost insurance policies with varied benefits. These low-premium plans offer high returns.
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FAQs: What is the Army Postal Life Insurance plan?

How can I avail of the PLI maturity form?

You can contact the nearest post office to receive the policy maturity form.

What is the PLI scheme for Defence personnel under the Army Post Office?

To offer the benefits of Postal Life Insurance to the Armed Force Personnel, the Army Postal Service (APS) presents the Army PLI scheme with the key objective of ensuring the well-being of army personnel and their families with enhanced life coverage.

How can I check my Army PLI status?

The process to check army PLI status is given in the post above. You can do so in different ways, such as by email, call, personal visits to the post office, or via online mode, etc.

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Sep 14, 2023
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