How Is PLI Maturity Amount Calculated?

Which PLI scheme is best?

Salient Features of PLI policiesWhole Life Assurance (Suraksha) Minimum & Maximum age at entry: 19-55 years.

Anticipated Endowment Assurance (Sumangal) It is a Money Back Policy with maximum sum assured of ₹ 50 lacs, best suited to those who need periodical returns.

Children Policy (Bal Jeevan Bima).

Is PLI a good option?

Postal Life Insurance (PLI), a 125-year-old life insurance scheme run by the department of posts, is a good option for people eligible for it as it charges lower premiums and offers higher returns than comparable policies of life insurers.

Who is eligible for PLI policy?

It now covers employees of Central and State Governments, Central and State Public Sector Undertakings, Universities, Government aided Educational institutions, Nationalized Banks, Local bodies, autonomous bodies, joint ventures having a minimum of 10% Govt./PSU stake, credit co-operative societies etc.

Can PLI pay online?

What are the pre-requisites to pay PLI/ RPLI policy premium online? Register for PLI/RPLI online services.

What is yugal Suraksha policy?

Joint Life Assurance (Yugal Suraksha) It is a Joint Life Endowment Assurance in which one of the spouses should be eligible for PLI policies. Life cover to both spouses to the extent of sum assured with accrued bonus with a single premium. Minimum sum assured ₹ 20,000; Maximum ₹ 50 lac.

How much loan can I get on PLI policy?

The maximum admissible amount of loan will be 90% of surrender value of the policy which will be subject to the condition that amount of loan should not become less than Rs. … 1000/-.

How can I check my PLI policy status online?

Using Your PLI Account – Individuals who hold a Postal Life Insurance policy can go and create an account for themselves on the Postal Life Insurance website. After creating an account, they simply have to login to their account using their username and password, and request to know the status of their PLI policy.

Is PLI maturity amount taxable?

Yes, premiums paid towards PLI are tax exempted as per Section 80C of the Income Tax Act, 1961. … No, the maturity amount will be taxable only if the sum assured in less than the prescribed limit.

What is the interest rate of PLI?

10% per annumWhat is the interest on loan availed against the policy? The interest on loan availed against the PLI policy is 10% per annum.

Is PLI better than LIC?

Premium Rate-When compares to LIC or any private insurers, PLI offers cheap premium. So this is the most advantage of buying endowment plans with PLI than with LIC. Bonus Rate-Bonus offered by PLI is in the range of 7% or more. Whereas currently, LIC offers a bonus rate of around 4% to 5%.

Is PLI for private employees?

Postal Life Insurance (PLI) Employees (teaching/non-teaching staff) of all private educational institutions/schools/colleges etc. affiliated to recognized Boards (recognized by Centre/State Government) of Secondary/Senior Secondary education i.e. CBSE, ICSE, State Boards, Open School, etc.

Can PLI premium be paid in any post office?

Some love to come to PLI/ nearest post office and some others would not like to stand in a queue. Keeping this in mind, we have tried to provide facilities for all types of customers. If you are one of those who would feel comfortable to pay across the counter, let us inform you that you can do so in any post office.

What is PLI in post office?

Postal Life Insurance (PLI) was introduced on 1st February 1884.It started as a welfare scheme for the benefit of postal employees and was later extended to the employees of the Telegraph Department in 1888.