Postal Life Insurance Premium Table

1. Whole life Assurance or Suraksha Scheme

According to this PLI plan, the insured receives the guaranteed amount of life insurance along with the accumulated bonus upon reaching the age of 80 or, in the event of the insured's death, the insured's legal representative. Nonetheless, the policy must be in effect on the day the claim is made. Among the scheme's salient characteristics are: 

• The application's minimum and maximum ages are 19 and 55, respectively 

• The guaranteed minimum and maximum amounts are Rs. 20,000 and Rs. 50 lakhs, respectively 

• Loan facility: 4 years later 

• Bonus eligibility is only available after 5 years 

• After three years is the surrender period 

• You have three options for the premium payment age: 55, 58, or 60 

• Conversion to Endowment Assurance Policy: Permitted for covered individuals up to 59 years of age. 

2. Santosh Scheme or Endowment Assurance

Until they reach the specified age of maturity, the insured person in this PLI program is guaranteed the entire amount and the bonus accumulated. The age of maturity in this situation could be 35, 40, 45, 50, 55, 58, or 60. The entire amount and accrued bonus are paid to the insured person's nominee, legal heir, or assignee in the event of their death. Several significant aspects of this policy include: 

• The application's minimum and maximum ages are 19 and 55, respectively 

• The guaranteed minimum and maximum amounts are Rs. 20,000 and Rs. 50 lakhs, respectively 

• Loan facility: Three years later 

• Bonus eligibility is only available after five years 

• After three years is the surrender period. 

3. Anticipated Endowment Assurance or Sumangal Scheme

Another name for this PLI program is Money Back Policy. Regular survival benefits are paid to the individual covered. If the insured passes too soon, these payouts will not be taken into account. Any survival benefit payments that have already been made are not subtracted in the event of the policyholder's untimely death, and the nominee, assignee, or legal heir would get the entire amount insured plus the accrued bonus. 

The following are the characteristics of this scheme: 

• Policy terms are 15 and 20 years 

• Age requirements for applications: minimum and maximum 

9 years and 40 years, respectively, for a policy with a 20-year term 

19 years and 45 years, respectively, for insurance with a 15-year terms 

Periodically, survival benefits are distributed as follows: 

• 15-year policy: 40% with accrued bonus at maturity, and 20% each after 6, 9, and 12 years 

• 20-year policy: 20% after 8, 12, and 16 years, and 40% after maturity with collected bonuses. 

4. Convertible Whole Life Assurance or Suvidha Scheme 

This is a whole life insurance policy, which guarantees the insured individual the entire amount plus any accrued bonuses until they reach mature age. The entire amount and accrued bonus are paid to the insured person's nominee, legal heir, or assignee in the event of their death. See its features in the list below: 

• The application's minimum and maximum ages are 19 and 55, respectively 

• The guaranteed minimum and maximum amounts are Rs. 20,000 and Rs. 50 lakhs, respectively 

• Loan facility: Four years later 

• After three years is the surrender period 

• Bonus eligibility is only available after five years 

• After five but six years, convert to an endowment assurance policy. 

5. Yugal Suraksha Scheme or Joint Life Assurance

One of the spouses is eligible for PLI coverage under this joint life insurance policy. Both spouses' lives are covered to the extent of the total amount guaranteed, and the bonus earned with a single premium. If a spouse or primary policyholder passes away, death payments are given to the surviving spouse. These are its attributes: 

• The application's minimum and maximum ages for both spouses are 21 and 45, respectively 

• The guaranteed minimum and maximum amounts are Rs. 20,000 and Rs. 50 lakhs, respectively 

• The policy's minimum and maximum terms are five and twenty years, respectively 

• Loan facility: Three years later 

• Facility for surrender: After three years 

• Bonus eligibility: After five years. 

6. Children Policy, or Bal Jeevan Bima

People who wish to safeguard their child's future can also apply for a PLI scheme. Children of policyholders are covered by this program for life insurance. This plan may be issued by Bal Jeevan Bima policyholders for up to two children. The premium is not required to be paid if the policyholder passes away. In this scenario, the children will get the full amount guaranteed and bonus accrued at the end of the policy period. This scheme's key characteristics are: 

• Children might be as young as five years old or as old as twenty 

• A parent or policyholder may be no older than 45 

• Maximum guaranteed amount: Rs. 3 lakhs or the parent's guaranteed amount, whichever is lower 

• Loan facility: The policy does not allow for loans 

• Facilities for surrender: No facilities for surrender are permitted 

• There is no need for a medical examination, but the youngster should be in good health. 

Premium Table for Anticipated Endowment Assurance

Monthly premium you will have to pay for an assurance of Rs.5,000

Payment of benefits under Anticipated Endowment Assurance (AEA) if the policyholder survives

Premium Table for Convertible Whole Life Assurance

Monthly premium table for an assurance of Rs.5,000

The minimum age of entry is 19 years, and the maximum age of entry is 50 years.

Premium Table for Endowment Assurances

Table for monthly premiums for an assurance of Rs.5,000

Table for quarterly premiums for an assurance of Rs.5,000

Table for half-yearly premiums for an assurance of Rs.5,000

Table for yearly premiums for an assurance of Rs.5,000

Quarterly premium table

Yearly premium table