The Postal Life Insurance (PLI) Premium Calculator is an essential online tool designed to help individuals estimate and compare premiums across various postal life insurance plans.
This calculator provides a quick and accurate way to determine the insurance cost, helping you choose a plan that fits your needs and budget.
Understanding the PLI Premium Calculator
The PLI Premium Calculator can be accessed online through the official Postal Life Insurance website at www.postallifeinsurance.gov.in.
This tool is invaluable for anyone looking to purchase a PLI policy. It provides an estimate of the premiums based on your input, such as age, coverage amount, and payment frequency.
Key Features of the PLI Premium Calculator:
- Estimates premiums for various PLI policies
- Includes calculations for Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), and National Savings Certificate (NSC) schemes
- Accounts for current GST rates
What is Postal Life Insurance (PLI)?
Postal Life Insurance (PLI) was introduced by the Indian Postal Service in 1884.
Initially available only to postal employees, it is now accessible to all Indian citizens, including government and non-government employees.
PLI is one of the oldest insurance schemes in India, offering a range of six different life insurance plans:
- Whole Life Assurance (WLA)
- Convertible Whole Life Assurance
- Endowment Assurance (EA)
- Anticipated Endowment Assurance (AEA)
- Joint Life Assurance (JLA)
- Children Policy
How to Use the PLI Premium Calculator
Using the PLI Premium Calculator is straightforward. Follow these steps to estimate your premium:
- Visit the official website: Visit the Postal Life Insurance website and select the ‘PLI premium calculator’ option.
- Enter Your Details: Input your personal information, including your name, age, gender, and the sum assured (the payout amount in case of death or maturity).
- Select Payment Mode: Choose your preferred payment frequency—monthly, quarterly, half-yearly, or yearly.
- Calculate Premium: Click the ‘calculate premium’ button to get an estimate that includes all applicable taxes and charges.
- Make Your Payment: If satisfied with the estimated premium, proceed to make your payment through the secure online payment gateway on the website.
| Name of the calculator | PLI Amount Calculator |
|---|---|
| Website | https://www.indiapost.gov.in |
| PLI Website | https://pli.indiapost.gov.in/ |
| PLI Premium Table | http://www.postallifeinsurance.gov.in/ |
Example: Calculating Premium for an Endowment Assurance Plan
Suppose you wish to purchase an Endowment Assurance Plan under PLI. Here’s how you can calculate the premium:
- Enter the sum assured
- Provide the policy purchase year
- Input your current age
- Enter the maturity age
- Click ‘Calculate’ to view the estimated premium
Benefits of Using the PLI Premium Calculator
The PLI Premium Calculator offers several advantages:
- Accessibility: The calculator is available online and free of charge, making it easily accessible to everyone.
- No Registration Required: You can use the calculator without registering on the website.
- Accuracy: The calculator minimizes errors, as it eliminates the need for manual calculations.
- Convenience: It can be used from anywhere, allowing you to get an estimate at your convenience.
- Time-Saving: The process is quick, helping you make informed decisions without delays.
The Postal Life Insurance Premium Calculator is an indispensable tool for anyone considering a PLI policy. It provides a clear estimate of the premiums, helping you make informed decisions about your life insurance needs and ensuring financial security for you and your family. Always compare different plans and choose the one that best suits your requirements before purchasing.