A PLI Calculator or Postal Life Insurance Premium Calculator is a tool available online to calculate and compare the premiums of different Postal Life Insurance Plans.
The postal life insurance (PLI) is regarded as one of the oldest schemes of life insurance in India offered by India Post department. India post with its extensive pan India presence offers a range of different services and products. The Postal life coverage is one of their exclusive products offering a remarkable mix of best features.
The PLI plan was initiated long back in 1884 as a welfare scheme aimed at the employees working in the postal department. Later, in 1888 the plan was extended to the employees of the telegraph department as well.
Name of Policy
Age
Sum Assured
Endowment Assurance (Santosh)
Min – 19 Max – 50
Min – ₹ 20,000 Max – ₹ 50 lac
Whole Life Assurance (Suraksha)
Min – 19 Max – 55
Min – ₹ 20,000 Max – ₹ 50 lac
Joint Life Assurance (Yugal Suraksha)
Min – 21 Max – 45
Min – ₹ 20,000 Max – ₹ 50 lac
Convertible Whole Life Assurance (Suvidha)
Min – 19 Max – 50
Min – ₹ 20,000 Max – ₹ 50 lac
Anticipated Endowment Assurance (Sumangal)
Min – 19 Max – 50
Min – ₹ 20,000 Max – ₹ 50 lac
Anticipated Endowment Assurance (Sumangal)
Min – 19 Max – 45
Max – ₹ 50 lac
Children Policy (Bal Jeevan Bima)
Min – 05 Max – 20
Max – ₹ 3 lac
Here are some benefits of using a postal life insurance premium calculator:
– Being an online tool, the PLI premium calculator is easily accessible to people at no cost and can be accessed anytime and as many times as required
– You do not need to register in the website to use the calculator
– The use of calculator saves time as well as it allows the policy seeker to get accurate information
– The calculator can be used by anyone anytime from anywhere in the world
– All you need is to provide the correct information to get the approximate estimation of PLI premium.
Below are the factors considered for determining the premium of PLI plans. The user of the post office PLI calculator has to offer these details to calculate the premium.
Age of the insured – This is the first thing that a PLI calculator would ask for from the user. This is because age of the insured directly impacts the premium of a policy.
Monthly income of the insured – This is again a very significant detail to know as it impacts the premium. As per the income and the affordability of the insured, the premium is levied on the insured
Sum assured – Sum assured is directly related to the premium levied on an individual. If the coverage is higher, the premium will be greater and vise-versa.
Premium paying duration – The time when the policyholder stops paying policy premium is another determining factor of premium amount. With high ceasing age, the premium paid becomes lower.
All citizens of India who are working with the below mentioned organizations can purchase the PLI plans conveniently:
Employees of state and central government
People working in NSE and BSE in certain sectors
Employees of autonomous bodies
Employees of RBI
Employees of Financial Institutions
Paramilitary and defense workers
Public sector employees
Employees of educational institutions aided by government of India
Employees of deemed universities
Employees of commercial and nationalized banks
Employees of co-operative society
Below are the steps to be taken to use PLI Calculator:
Visit Postal Life Insurance portal
Click on the tab of ‘Buy Policy’ on the main page
You will be redirected towards a new page where you have to submit certain details correctly
Now enter the captcha image and click on the tab of ‘Get Quote’
You can see the PLI monthly premium on the screen displayed
Below are the details required to submit by an individual in the PLI scheme calculator to get approximate results:
– Policy name
– Date of birth
– Contact Number
– Gender
– Email ID
– Pin Code
– Sum assured
– Monthly Income
– Policy end date
You can check the Postal Life Insurance (PLI) premium table from the below links –
– Anticipated Endowment Assuarance
– Convertible Whole Life Assurance
– Endowment Assurance
– Whole life Assurance
– Yugal Surksha