What is the interest rate of PLI?
10% per annum
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%.
Which PLI scheme is best?
6 Best Postal Life Insurance (PLI) Plans for Government Employees 2022
Input the Sum Assured amount. Input the year of purchase of the policy. Input the current age of the customer. Input the maturity age of the customer.
Is PLI good investment?
PLI is a good option for people, who are 'eligible' for it, as it charges lower premiums and offers higher returns than comparable policies of life insurers.
Tenure: While PPF is a long-term investment plans (minimum 15 years) and cannot be taken for a shorter period, LI can be taken for a shorter duration, starting at five years. LI therefore offers greater flexibility.
Is PLI maturity tax free?
As per Section 10(10D) of the Income Tax Act, the sum assured received on maturity or surrender of a policy or upon the policyholder's death is completely tax-free.09-Sept-2021
Yes, before date of last premium, he can apply for its revival and after credit of due premium with interest @ 12% per annum and a good health certificate, he can continue this policy. After revival due bonus will be automatically attached with this policy.
Who all are eligible for PLI?
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.
Postal Life Insurance Scheme Bonus
Can I open PLI Online?
You can start the procedure of buying the policy online even if you are not a customer of India Post. You will be able to navigate to Purchase a Policy. Quote to select the suitable product and coverage for you. After this, you will have to fill personal, employment, medical and other information.
You can also call on the toll-free number 1800 180 5232, 155232. You can also call their land line number 011 24673177.
How are maturity benefits calculated?
Maturity benefit is calculated as the [Sum Assured + Bonus Amounts] which have been accumulated throughout the policy term + any [Final Addition Bonus] if declared. However if the policy holder does not survive the policy tenure, the nominee will additionally get the Sum Assured amount as the Death Benefit.
The answer is that both are different products. Mutual Fund is a pure investment product. For short-term investments, you should invest in a debt mutual fund. For the long-term goals, Equity Mutual funds provide better returns.
Is PLI bonus taxable?
As per Section 10(10D) of the Income Tax Act, 1961 the amount of sum assured plus any bonus (i.e. the policy proceeds) paid on maturity or surrender of policy or on death of the insured are completely tax free for the receiver subject to certain conditions.04-Nov-2015
Fixed deposits are best for both short- and medium-term investments whereas life insurance plans are designed for long term investments. You can invest for a period of as low as 7 days in fixed deposits unlike a life insurance plan wherein you need to invest for at least 10 years.
Which scheme gives highest rate of interest in post office?
Comparison of the Various Post Office Savings Schemes
State Bank of India (SBI), which is the largest bank in the country, offers the PPF scheme with a good interest rate.
How is PLI premium calculated?
For the Endowment Assurance Plan under PLI, one can follow the below-mentioned steps for premium or maturity calculation:
Postal Life Insurance (PLI) was introduced on 1st February 1884.
What is the maximum limit of PLI?
Maximum Age -20 years (The age of main policy holders should be below 45 years) Sum Assured Limit Minimum- INR 20,000/- Maximum-INR 3,00,000/-.
What is the interest rate of PLI?