Which policy is best in PLI?
6 Best Postal Life Insurance (PLI) Plans for Government Employees 2022
The obtained amount shall be remitted directly on to beneficiary bank or post office account/or through cheque. Features: Maturity/Survival Benefit Claim of a policy arises on completion of term of the policy as per the features of that particular plan.
How do I get a post office life insurance statement?
For downloading duplicate PLI premium receipt or PLI Premium Paid Certificate kindly follow the process: For downloading PLI Financial Statement in PDF, Visit the https://pli.indiapost.gov.in/ > Login > Tools & Utilities > Payment history > fill policy no > click on get payment history > Download receipt.
What will be the surrender value of PLI/RPLI policy? Surrender facility is available after 3 years in case of WLA, EA, CWLA and YS policies. No surrender facility is available in case of AEA and Children policy. Surrender value depends on the surrender factor, type and term of policy.
Is PLI is 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%.
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. Can one revive a lapsed policy?
Is PLI maturity tax free?
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.
Terminal Bonus. Rs. 20/- per sum assured of Rs. 10,000/- subject to maximum of Rs. 1000 for Whole life assurance and Endowment assurance policies with term of 20 years or more.18-Jan-2022
How do I check my post office life insurance balance?
You can also call on the toll-free number 1800 180 5232, 155232. You can also call their land line number 011 24673177.
Steps for Customer Registration
What is PLI in post office?
Postal Life Insurance (PLI) was introduced on 1st February 1884 with the express approval of the Secretary of State (for India) to Her Majesty, the Queen Empress of India. It was essentially a scheme of State Insurance mooted by the then Director General of Post Offices, Mr.
Policy withdrawal is Surrender of policy in return for acquired surrender value. In case of life insurance, if you surrender a policy before the completion of its full term, you could get back a portion of the money you paid as premium, after deducting charges. This money is surrender value.10-Jun-2021
Which is better PLI or PPF?
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.
Postal Life Insurance (PLI) does not offer any pension and Unit Linked Insurance Plans (ULIP). It is a good option for them who are eligible for it as it provides higher returns and charges low premiums than comparable policies of life insurers.
What is PLI and its benefits?
The salient features of this scheme are as under: The scheme provides life insurance cover to children of policy holders. Maximum two children of policy holder (parent) are eligible. Children between 5- 20 years of age are eligible. Maximum sum assured ₹ 3 lac or equal to the sum assured of the parent, whichever is
The paid-up value is calculated as original sum assured multiplied by the quotient of the number of paid premiums and number of payable premiums. On discontinuing a policy, you get special surrender value, which is calculated as the sum of paid-up value and total bonus multiplied by surrender value factor.26-Apr-2021
How is PLI premium calculated?
For the Endowment Assurance Plan under PLI, one can follow the below-mentioned steps for premium or maturity calculation:
Anyone who is an employee of the specified governments, armed forces, institutions and organisations, can apply for the policy provided they are over 19 years of age but below 55 years. The Postal Life Insurance policy offers a cover from Rs. 20,000 to Rs. 50 lakh.
What is the max PLI policy limit for a person?
During the initial years, the maximum amount for PLI was limited to Rs. 4000. Over the years, with the changing landscape of the insurance industry, the limit has now increased to Rs. 50 lakhs.19-Aug-2020
Since 1894, postal life insurance (PLI) was available only to the government and semi-government employees, including the employees of public sector undertakings, financial institutions, and nationalized banks, but back in 2017, it was made open to a more wider section of the population.20-May-2019
How can I pay my PLI policy online?
Register at PLI customer portal to pay PLI premium online
Which policy is best in PLI?