Premium Calculator Of Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI) Plans 2022

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Maturity Calculation Of Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI) Plans with Premium 2022 through Calculator

It is important to use tools such as a PLI calculator to find out how much you can gain financially from such a policy.

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Types of PLI and RPLI Calculators

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.

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.

Also Read: 6 Rural Postal Life Insurance (RPLI) Plans – Features and Benefits

RPLI Maturity Calculator 2022 – 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 calculator. 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.

RPLI Premium Calculator Table 2022 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:

Age of entry  Monthly premium in INR for every 1000 rupees if the policy is changed to an endowment policy Monthly premium in INR for every 1000 rupees if the policy is not changed and matures when the policyholder is 60 years old 
30 years 205 305
35 years 250 395
40 years 325 535
45 years 440 80

RPLI Premium Calculator Table 2022 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:

Age of entry  Monthly premium in INR for every 1000 rupees with a term period of 15 years Monthly premium in INR for every 1000 rupees with a term period of 20 years
30 years 660 500
35 years 665 510
40 years 675 530

PLI Maturity Calculator 2022 – The Maturity Premium calculator for Postal Life Insurance (PLI) Policies

Come – let us take a look at the PLI calculator 2022 now.

Just as there is no specific calculator for the RPLI policies you do not have any dedicated PLI maturity 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 2022 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:

Age of entry  Monthly premium in INR for every 5000 rupees with a maturity age of 50 years  Monthly premium in INR for every 5000 rupees with a maturity age of 60 years
30 years 400 260
35 years 560 320
40 years 860 420
45 years 1740 580

PLI Premium Calculator Table 2022 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:

Age of entry  Monthly premium in INR for every 5000 rupees with a maturity age of 15 years  Monthly premium in INR for every 5000 rupees with a maturity age of 20 years
19-36 years 660 500
37-42 years 680 520
43-45 years 700 540

The Factors that Affect PLI And RPLI Plans Premiums 2022

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.

Health Insurance Policy

Why should You use PLI and RPLI Calculators?

There are several reasons why using a postal life insurance premium 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 a Term Life Insurance or Family Health Insurance from PayBima 

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.

Found this post informational? Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance and Investment section. You can visit PayBima to Buy Insurance Online.

FAQs on PLI and RPLI Premium Calculator Plans

What is the difference between PLI and RPLI?

The key difference between PLI and RPLI is with regards to its sum assured. The sum assured in PLI is above Rs. 1 lakh and for RPLI it is above Rs. 25,000 with proposer's age being the same in both the cases at 35 years.

How can I check my RPLI policy status?

To check RPLI policy status, you can contact at toll free number 1800 180 5232/155232.

Which RPLI policy is best?

Below are the Best Rural Postal Life Insurance (RPLI) Plans in India:

# Whole Life Assurance (Gram Suraksha)
# Endowment Assurance (Gram Santosh)
# Convertible Whole Life Assurance (Gram Suvidha)
# Anticipated Endowment Assurance (Gram Sumangal)
# 10 Years Rural PLI (Gram Priya)
# Children Policy (Bal Jeevan Bima)

What is the benefit of RPLI?

Below are some of the RPLI benefits:

# 100% security as offered by the Government.
# You get a high bonus by paying a low premium payment.
# You can take out a loan against the policy.

Is PLI better than LIC?

Both the policies have their best features and both are backed by the government. The premium rate of PLI is cheap as compared to LIC. Hence, this is the best advantage of PLI over LIC, especially if you buy an endowment plan. In terms of bonus, PLI offers about a 7% bonus rate, while it is 4% to 5% for LIC at present. So, these features give PLI an upper hand as compared to LIC.

Which is better, PLI or PPF?

Here again, both the policies have their own benefits and are offered by the post office. PPF serves the purpose of investment and tax, while PLI is the best endowment plan offering a high bonus rate at a low premium. PPF is a long term investment plan and cannot be bought for short duration, while the PLI can be taken for short durations as well.

How are maturity benefits calculated for PLI and RPLI?

To calculate the maturity benefit of PLI and RPLI, you need to submit details such as Sum Assured, name of the policy and policy purchase year, the age of the individual at the time of calculating the maturity and the maturity age of the insured.

Apr 10, 2022
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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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