Postal Life Insurance (PLI) Surrender Value Calculator – Steps of using the Surrender Value Calculator

While buying a life insurance policy comes with a lot of benefits, some of the questions hover in the mind of the policyholders. One of the most common questions is calculating the surrender value of the insurance plan that they are purchasing. Well, before you jump on to using a PLI surrender value calculator, let us first try to understand what Postal Life Insurance is.

Post Life Insurance (PLI) is basically a term life insurance plan which is for employees from government, and semi-government sectors, and for other professionals in India. The benefits associated with a PLI plan are many. Nevertheless, there could be a host of reasons why a policyholder may choose to surrender his/her postal life insurance policy. If you are one of them, then you need to know the surrender value. Therefore, while you are buying a PLI policy, you must be aware of the calculation policy, as it will help you to make an informed decision.

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What is PLI Surrender Value?

As you surrender your PLI plan, you will get a certain amount of premiums that you paid. This will be returned by the insurer. The payment you receive is called the surrender value. In the case of WLA, EA, CWLA, and YS policies, you will receive the PLI surrender value after 3 years. The value you receive will depend on the surrendering type, factor, and plan term.

Also Read: RPLI

How do we Calculate Surrender Value?

If you have a PLI plan and now you want to surrender it, you need to know the surrender value. The easiest way to do that is using a PLI policy surrender value calculator. All you need is a device that can be connected to a stable internet connection and the PLI Surrender Value Calculator. You would be required to provide certain information such as the premium amount that you paid, the term of your policy, the mode of premium payment, the number of years that your plan completed, the amount of the premium installment that you paid, and many more.

Once all of these details are provided, the calculator will calculate the surrender value of your PLI policy. With the help of this PLI calculator, you can also find out the PLI surrender value of 3 years, PLI surrender value of 5 years, and PLI surrender value of 10 years.

The PLI surrender value calculator is an online tool that you can use at any time at your convenience. As you provide some basic information that is related to your PLI policy, you will get to know the surrender value in just a few seconds.

PLI Surrender Factor Table

You can refer to the below-mentioned PLI Surrender Value Calculation Sheet for calculating the surrender amount.

Also Read: PLI Interest Rate

Steps of using the Surrender Value Calculator

Using the surrender value calculator of the PLI term plan is not at all difficult. You just need to follow some simple steps, which are mentioned herein below:

• The foremost thing you need to do is visit the official website of Postal Life Insurance
• Now as you find the Surrender Value Calculator, you have to click on it
• At this point, you have to enter all the required details such as your name, your contact number, policy name, policy term, mode of paying the premium, number of premium installments that have been paid, etc.
• Once you submit all these details, the calculator will take its time, which is not more than a few seconds, and give you the approximate surrender value. You will be able to see the surrender value on the display page.

Also Read: LIC Surrender Value Calculator

Advantages of Using Online PLI Surrender Value Calculator

Some of the benefits of using the PLI surrender value calculator are mentioned herein below:

• It is an online tool and you can use it even from the comfort of your home and without anybody’s help
• It is very easy and user-friendly
• You can compare the PLI policies without any hassles
• You can have access to details that affect the premium rates.

On the basis of several parameters, a PLI surrender value calculator fetches out the approximate surrender value. You can use the calculator to come up with a decision while choosing the right plan.

Also Read: HDFC Life vs ICICI Prudential

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