PLI and RPLI Maturity Amount Calculator – Premium Calculator of Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI) Plans 2023

Maturity Calculation of Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI) Plans with Premium 2023 through Calculator

The government of India takes care of its employees and their respective families by introducing schemes from time to time. PLI and RPLI are two such schemes run by the Indian Post Office for the welfare of its employees. PLI stands for Postal Life Insurance and RPLI is the abbreviated form of Rural Postal Life Insurance. While the former is essentially designed for the overall welfare of the employees of the Indian postal department specifically, the latter is exclusively meant for the wellbeing of the rural population.

This is because the rural sections of our society are still largely untouched by term life insurance benefits. Hence, to bring them into the coverage arena, RPLI plans are designed for the rural public, also because post offices seem to enjoy wider coverage in these sections of the country. Now, Iit is important to use tools such as a PLI calculator or an RPLI calculator to find out how much you can gain financially from such a policy.

Also Read: Pradhan Mantri Suraksha Bima Yojana (PMSBY) Scheme

About Rural Postal Life Insurance

The government came up with the RPLI scheme in India to specifically provide insurance benefits to the economically weaker and rural sections of the society. This is after the government realized in 1993 that the rural sector of the country remained uncovered by insurance.

The idea of introducing insurance to this segment of the society via post offices immediately appealed to the government, considering that postmasters enjoyed an excellent rapport with the rural population already. Hence, it was inevitably easier to convince the rural people towards buying insurance through the post offices. As such, the RPLI plan came into force.

Life Insurance plans under Rural Postal Life Insurance

Here are some life insurance plans offered by Postal Life Insurance:

You can use the postal life insurance calculator to estimate the amount that you can invest to receive the desired returns as per your need.

Who is eligible to buy RPLI and PLI plans?

Any citizen of India who works in any of the government organizations listed below can purchase PLI, RPLI insurance plans:

• If you work under Central or State Government
• If you are employed with para-military forces or defense services
• If you work for RBI or Reserve Bank of India
• If you are engaged in employment with the local bodies
• If you work for any government education institutions
• If you are employed with any public sector companies
• If you work for a financial institution
• If you are employed with autonomous bodies
• If you are an employee of a nationalized bank
• If you are an employee of a scheduled commercial bank
• If you work for the co-operative societies
• If you are an employee working in a deemed university
• If you are employees working in NSE/BSE listed companies in particular sectors

Also, for RPLI insurance plans, the investor must be an Indian citizen and a permanent dweller of a rural area.

Types of PLI and RPLI Calculators (आरपीएलआई कैलकुलेटर)

Now, these calculators can be of two types – one is supposed to help you calculate the amount you would receive at maturity in both these policies, and the other one is meant to assist you in calculating how much premium you would have to pay for these policies. Let us now understand both these calculators in greater detail.

RPLI and PLI calculators

There are two types of PLI and RPLI calculators, namely RPLI and PLI maturity calculator and RPLI and PLI insurance premium calculator.

PLI and RPLI maturity calculator

Under the RPLI plans, the insured can ask for maturity benefits in case he/she survives the policy term. The SI or sum insured of an RPLI is fixed at the time of buying the policy by the policyholder as per his/her requirement. Since the bonus offered under these plans keeps changing, you may not get the exact RPLI calculator maturity amount using the tool. However, the investors can use their exact sum insured amount and track the final maturity amount as per the updated bonus rates. Generally, the bonus rates are declared as per 1000 sum assured.

RPLI premium calculator

The RPLI calculator post office is an online tool that is used to estimate the premiums that an insured has to pay to avail the benefits of a plan. You can use this tool as many times as you want to estimate the premium rates by changing policy terms, sum assured, premium payment terms, etc. This way, you can ensure to avail the right life insurance coverage that fits your budget and requirements. You can use the RPLI premium calculator by visiting the RPLI official website and India Post mobile app.

The Maturity Calculators of PLI and RPLI Plans

When both the PLI (postal life insurance) and RPLI (rural postal life insurance) policies mature you get the sum assured guaranteed by the policy along with the bonuses that have accrued on the same.

Since in these policies the bonus is not fixed or guaranteed it is not possible to calculate the money you would receive in advance even if you use a postal life insurance calculator.

RPLI Calculator Maturity Amount 2023 – The Maturity Premium Calculator for Rural Postal Life Insurance (RPLI) Policies

There is no specific rural postal life insurance calculator that helps you calculate the premium that you have to pay for these policies. However, you do get premium tables that you can use to get a good idea of the premium that you would have to pay in these policies.

So, in one way, you get the information that you may have expected from an RPLI maturity calculator in 2023. Please remember that the premium tables are different for individual policies. Below we would look at the premium tables for the Gram Sumangal and Gram Suvidha policies.

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RPLI Premium Calculator Table (आरपीएलआई प्रीमियम तालिका) 2023 for Gram Suvidha Policy of a Sum Assured of 1 Lakh Rupees

Following is the premium table for the Gram Suvidha policy with a sum assured of one lakh rupees:

RPLI Premium Calculator Table 2023 for Gram Sumangal Policy of a Sum Assured of 1 Lakh Rupees

Following is the premium table for the Gram Sumangal policy with a sum assured of one lakh rupees:

Factors Considered by the RPLI Calculator

The following factors are taken into consideration when computing premium as per the RPLI calculator:

1. The term of the plan, as selected by the policyholder
2. The age of the policyholder
3. The age at which the premium ceases to be paid
4. The name of the plan purchased by the policyholder
5. The total sum assured under the plan

How to Use the Rural Postal Life Insurance Calculator?

The easiest way to use the RPLI calculator for premium calculation purposes is by visiting the India Post website, www.indiapost.gov.in. Here are the steps to follow on the website for using the RPLI calculator:

• Click on Postal Life Insurance on the above website.
• Click OK. You will now be redirected to an external website.
• Select Purchase a Policy on the website.
• Now click Quote.
• You will be asked to fill in some details such as your date of birth, contact details, type of product, occupation, sum assured, gender, name of the insurance scheme (RPLI, in this case), and state of residence. Fill out all the information correctly.
• Now fill out the image captcha.
• Click on Get Quote.
• You can now get results for the premium rate for RPLI for various terms, such as monthly, quarterly, half-yearly, and yearly.
• Consider the premium rates carefully before proceeding with policy purchase.

PLI Maturity Calculator 2023 – The Maturity Premium calculator for Postal Life Insurance (PLI) Policies (पीएलआई परिपक्वता मूल्य कैलकुलेटर)

Come – let us take a look at the PLI maturity calculator 2023 now.

Just as there is no specific calculator for the RPLI policies you do not have any dedicated Postal Life Insurance interest rate calculator as such. However, just like those policies you have a premium table for the PLI policies as well. Once again the premium that you pay in this case depends on the policy that you have bought.

PLI Premium Calculator Table (पीएलआई प्रीमियम तालिका) 2023 for Gram Santosh Policy of a Sum Assured of 1 Lakh Rupees

Below we would take a look at the premium tables for the Sumangal and Santosh policies. Following is the premium table for the Santosh policy with a sum assured of one lakh rupees:

PLI Premium Calculator Table (पीएलआई प्रीमियम तालिका) 2023 for Gram Sumangal Policy of a Sum Assured of 1 Lakh Rupees

Following is the premium table for the Sumangal policy with a sum assured of one lakh rupees:

The Factors that Affect PLI and RPLI Plans Premiums 2023

So, from the PLI premium table, you would have had a fair idea of the premium structure of these policies. Now, you need to know the factors that affect these premiums, and they may be enumerated as below:

• your age
• the type of policy that you have chosen
• the term you have selected
• the mode in which you would pay the premium
• the sum assured you have chosen

Always remember that the older you are when you buy the policy the higher would your premium be. If you go for a higher term you would have to pay a lower premium.

If the sum assured is higher you would have to pay a higher premium. As you would have seen already certain policies carry higher premium rates than others.

The Details that you Need to Calculate the Premiums of Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI) Plans

Now you may be thinking about the details that you would require for using the PLI premium calculator. Well, you would have to use the very factors that we have mentioned above. Once you have all these details you should be able to use the premium tables for the policies and calculate the premium that you would have to pay in these cases.

Why Should You use PLI Calculator (पीएलआई कैलकुलेटर) and RPLI Calculator (आरपीएलआई कैलकुलेटर)?

There are several reasons why using a postal life insurance premium or rural postal life insurance calculator is beneficial for you. First of all, it helps you understand the premium that you have to pay for these policies. This means that you have a clear idea of how much such a policy would cost you. This, in turn, helps you make space in your budget for the premium amount. This way, you can also choose the most appropriate and affordable coverage for yourself. Such usage also helps you compare the prices of these policies with other policies being sold in the market.

Also Read: Buy an Online Term Insurance or Medical Insurance Online from PayBima 

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Conclusion 

So, now that you know how to use a PLI calculator and the reasons to do the same we hope it can be fully beneficial for you. As you would have seen already, both these types of policies offer you decent coverage at low premiums. It also helps that these policies offer you attractive bonuses to go with the same. This means that over the entire policy tenure there is a good chance that you would run up a significant corpus. So, you can always go ahead and buy any or both of these plans at your convenience.

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