Find your suitable insurance plan
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5 min read
Updated on Apr 30, 2023
The RPLI calculator lets investors evaluate the premium amount against maturity benefit to help them purchase the most comprehensive insurance plan as per their budget.
India Post, the postal department of Govt. of India introduced the RPLI schemes in the year 1995 to benefit the rural population of the country with insurance coverage. The RPLI insurance schemes at present comprises six plans catering to varied needs of people residing in rural areas.
Below are the six RPLI plans available:
| Gram Surakska | Whole Life Assurance Policy |
| Gram Suvidha | Convertible Whole Life Assurance Policy |
| Gram Santosh | Endowment Assurance Policy |
| Gram Priya | RPLI for 10 years |
| Gram Sumangal | Anticipated Endowment Assurance Policy |
| Bal Jeevan Bima | Life Insurance Policy Catering to Children |
Buying an insurance or investment plan is an important decision as it ensures that you save enough to secure your future. Hence, it is important to consider this before buying a policy. So, if you are planning to invest in RPLI policies, you must use the RPLI premium and maturity calculator to have an idea of how much premium you should pay as compared to how much benefit you could earn at maturity.
This way you will know if the calculated amount is as per your need or if you must increase the cover to add to your benefits. Further, you can also modify other things like premium payment frequency, premium ceasing age, etc. to accordingly reach your desired coverage or the most accurate premium estimation with the best RPLI.
Like all other insurance calculators, the Rural Postal Life Insurance premium calculator evaluates the premium amount of a RPLI plan that an investor has to pay against maturity. The RPLI calculator can be used as many times as you want to recalculate premiums to suit your requirement by modifying the features, policy tenure, premiums, and maturity benefits etc. This way the investor can have the best plan fitting his/her needs. You can access the RPLI calculator online at the official portal of India Post as well as other insurance and investment websites.
Similar to the maturity amount received for surviving a life/term insurance plan, the investor of a RPLI plan can avail the maturity benefit at the end of the policy term. The investor decides the sum assured received at maturity at the time of buying the plan depending on the particular requirement of the policyholder.
One thing that investors or policyholders must keep a track of is the bonus rate of an RPLI plan, which keeps changing. Since the maturity of a RPLI scheme depends on the bonuses also, it is important to check the bonus rate so that the policyholder can calculate the final maturity amount to be earned. The bonus paid under RPLI is generally calculated in terms of per 1000 rupees of the sum assured.
Besides calculating the premium and maturity benefits, an investor can also calculate the RPLI surrender value as per the RPLI policy terms and conditions. However, you may like to note that RPLIs do not provide bonus to the investor if the policy is surrendered before the 5 year term.
Below are the factors that are considered to use a RPLI calculator:
The Rural Postal Life Insurance Scheme calculator can be used online through the India Post website. Below guide can help interested individuals in purchasing any of the RPLI plans:
You can also install the India Post app on your mobile and use your Rural Postal Life Insurance customer login to access the calculator.
Here are some Rural Postal Life Insurance calculator benefits
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The maximum sum assured in RPLI is INR 25,000, while in case of PLI, the limit of sum assured is INR 1 lakh and beyond.
The least or minimum amount of sum assured under PLI plans can be INR 20,000, while the maximum amount of sum assured under PLI is INR 50 lakhs. But, under Bal Jeewan Bima, the maximum sum assured is INR 3 lakhs.
No, RPLI schemes can be availed by individuals residing in rural areas only.
The maximum amount obtained under RPLI schemes is INR 5.5 lakhs.
Usually, a 10 percent interest rate is charged at an interval of 6 months against the loans taken under PLI schemes.
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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