The postal life insurance premium calculator or PLI Premium Calculator is essentially an online instrument, which helps to compare and check the premiums for the different plans that are offered within postal life insurance.
Using the PLI calculator at http://www.postallifeinsurance.gov.in/ will give a rough estimate in regards to the premium that will be paid. This is helpful as an individual could buy the plan as per the requirements and affordability.
As a professional, you know the importance of being financially secure, and you also understand the significance of planning for the future. One way to achieve these goals is to invest in life insurance.
However, the premiums for life insurance policies can be high, and it can be challenging to determine the right amount of coverage you need. This is where the PLI Premium Calculator comes in.
It is a tool that can help you calculate your premiums for Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), and National Savings Certificate (NSC) schemes offered by the Indian government.
What Is PLI?
PLI stands for Postal Life Insurance, which is a life insurance scheme offered by the Indian Postal Service. The scheme was introduced in 1884 to provide life insurance cover to postal employees.
However, the scheme is now open to all Indian citizens, including government and non-government employees. The postal life insurance is the oldest insurance schemes available in India by the India Post and it offers a total of six protection plans.
The PLI scheme offers a variety of insurance products, including Whole Life Assurance (WLA), Endowment Assurance (EA), Anticipated Endowment Assurance (AEA), Joint Life Assurance (JLA), and Children Policy (CP).
What Is PLI Premium Calculator?
The PLI Premium Calculator is a tool that helps you calculate your premiums for PLI policies. It is an online calculator that is available on the official website of the Indian Postal Service.
A postal life insurance (PLI) calculator is an integral part of your postal life insurance plans. This PLI calculator calculates the total amount of premium that you need to pay for your policy.
The calculator can be used to calculate premiums for PPF, SSY, and NSC schemes offered by the Indian government. In addition, the PLI premium calculator estimates the premium amount by incorporating the present GST rate.
The post office PLI calculator is a valuable tool at https://pli.indiapost.gov.in/ for customers as it helps them purchase the best post-life insurance plans according to their needs and requirements.
| Name of the calculator | PLI Amount Calculator |
|---|---|
| Title | PLI Calculator calculates the total amount of premium |
| Subject | India Post provided the RPLI Premium Calculator |
| Category | Calculator |
| Website | https://www.indiapost.gov.in |
| PLI Website | https://pli.indiapost.gov.in/ |
| PLI Premium Table | http://www.postallifeinsurance.gov.in/ |
Types of insurance plans under Postal Life Insurance
The postal life insurance embraces its customers with 6 kinds of life insurance plans.
- Whole life assurance
- Convertible whole life assurance
- Joint life assurance
- Endowment assurance
- Anticipated endowment assurance
- Children Policy
Details Required to Use PLI Calculator
Yes, to use the PLI Calculator listed below are the details that would be required by an individual respectively:
- Policy Name
- Gender
- Birth Date
- Email Id
- Contact Number
- Pin Code
- Sum Assured
- Policy Cease Date
- Monthly Income
How to Use PLI Calculator?
On purchasing a postal life insurance policy, you will have to choose an appropriate cover amount and the frequency at which you will pay the premiums. Your age, financial capabilities, and other data will help you calculate the premium that you will be required to pay. Follow the steps listed below to use the postal life insurance premium calculator:
Visit the official Postal Life Insurance website
The first step in calculating your PLI premium online is to visit the official website of the Postal Life Insurance Corporation. Once you are on the homepage, look for the ‘PLI premium calculator’ option. Click on it to proceed to the next step.
Enter your details
The next step is to enter your personal details, such as your name, age, gender, and the sum assured. The sum assured is the amount that will be paid out in the event of death or maturity of the policy.
Choose your premium payment mode
You can choose between monthly, quarterly, half-yearly, or yearly premium payment modes. It is important to note that the premium amount may differ depending on the payment mode selected.
Calculate your premium
Once you have entered all the necessary details, click on the ‘calculate premium’ button. The premium calculator will then display your premium amount, including taxes and other charges.
Make your payment
After calculating your premium, you can proceed to make your payment online. The Postal Life Insurance website provides a secure online payment gateway for policyholders to pay their premiums.
Example of Postal Life Insurance Calculator
The steps to calculate postal life insurance premium are very simple. All you need to do is visit the official website of a legit third-party premium calculating website. If you want to purchase an Endowment Assurance Plan under PLI, then following the below-mentioned steps, you will know your premium amount for this plan. On visiting a third-party premium computing website, you might be asked for the following details:
- First, enter the sum assured amount that you are looking for
- Enter the policy purchased year.
- Put your present age
- Enter your maturity age
- Now click on the ‘Calculate’ button
- You will get delighted with the final results
Advantages of PLI Calculator?
The following are the key advantages of using the PLI calculator:
- The Postal Life Insurance premium calculator is an online tool, which is accessible to everyone easily and free of cost.
- To use the PLI calculator, one need not register on the website and easily avail the benefits.
- Using the PLI calculator helps in saving time and the chances of any discrepancy in the calculation are almost negligible as there is no manual calculation involved.
- Anyone can use the PLI calculator from anywhere across the globe. All they need to do is provide the information correctly and get an estimate of the postal life insurance premium amount.
The process to calculate the premium for a postal life insurance policy is very simple. .You must always compare and check which plan is the most suitable for you before proceeding to purchase insurance policy.
Once you like a plan, you can check the premiums that you will be needed to pay and once you are sure that you can afford the plan and is suitable for you, you can go ahead and purchase it for yourself.
FAQs on PLI Calculator
Why should you use PLI calculator?
PLI calculator is a free online tool thus, you should try for various sums assured. This will help you to know the best premium according to your budget. Moreover, you can purchase the best policy that resonates with your needs and requirements by comparing them all.
What is the PLI rate of interest?
The postal life insurance rate of interest is 10% per annum. This is calculated based on a 6 month period.
What are the benefits of using a PLI calculator?
PLI calculator is an online tool that gives you a rough estimate on the premium payable. This helps an individual to assess a plan as per his or her requirements and affordability.
Is PLI Premium Calculator free to use?
Yes, PLI Premium Calculator is free to use and can be accessed on the official website of the Indian Postal Service.
In conclusion, calculating your PLI premium online is a quick and convenient process. By following the above steps, you can easily calculate your premium amount and make your payment online. This helps to save time, reduce errors, and ensure transparency in the premium calculation process.