- How is PLI premium calculated?
- Can PLI pay online?
- How much loan can I get on PLI policy?
- Is PLI for private employees?
- What is difference between PLI and RPLI?
- What is the interest rate of PLI?
- Is PLI a good option?
- Can I close my PLI?
- Who can take PLI policy?
- What is yugal Suraksha policy?
- Which is best LIC or PLI?
- Is PLI maturity tax free?
How is PLI premium calculated?
For the Endowment Assurance Plan under PLI, one can follow the below-mentioned steps for premium or maturity calculation:Enter the sum assured amount.Enter the year of purchase of the policy.Enter your current age.Enter your maturity age.Click on the ‘Calculate’ button and the results will be displayed..
Can PLI pay online?
What are the pre-requisites to pay PLI/ RPLI policy premium online? Register for PLI/RPLI online services.
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/-.
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.
What is difference between PLI and RPLI?
➢ Rural Life Insurance The salient features of the Whole Life, Endowment, Convertible Whole Life and Anticipated Endowment Schemes of RPLI are same as the corresponding schemes of PLI except that the minimum Sum Assured is Rs. 10,000 and the maximum Sum Assured is Rs. 10 lac.
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 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.
Can I close my PLI?
Children policy can be surrendered after 60 months. No surrender for AEA policy. Bonus will be taken into account after 5 years for surrender value calculation on the paid up value. But surrendering any policy prematurely is always a loss to the insurant.
Who can take 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.
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.
Which is best LIC or PLI?
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 maturity tax free?
Yes, premiums paid towards PLI are tax exempted as per Section 80C of the Income Tax Act, 1961. Is Postal Life Insurance maturity amount taxable? No, the maturity amount will be taxable only if the sum assured in less than the prescribed limit.