Postal Life Insurance is one of the oldest insurers in India and provides various welfare schemes to people working for financial, government and non-financial institutes. You can visit the official website of PLI to check the bonuses and bonus rate for each scheme.
The Postal Life insurance service was started in 1884 for the government employees and now provides insurance solutions for defence personnel and semi government employees as well. These policies offer the policyholder not only a lump sum upon the policy reaching maturity to secure their financial future post retirement but also offers death benefits to the nominee or beneficiary in the case of demise of the policyholder thus securing the family’s financial future as well
The Postal Life Insurance offers not only assured sums but also bonuses. These bonuses will accrue and be paid out either at maturity or to the beneficiary upon the demise of the policyholder.
There are a few rules when it comes to bonuses. For those plans that provide lump sum pay-outs on maturity or death, the bonuses accrued will be paid out given the policyholder does not take up a loan before the completion of 5 policy years. Loan facilities are applicable on policies upon the completion of 3 policy years and if any loans are taken out during this period, the policy is void of all bonuses and if loans are taken out after the completion of 5 years, bonuses are reduced accordingly
Postal Life Insurance offers the following policies for central government and semi government employees which are Whole Life Assurance (WLA), Convertible Whole Life Assurance (CWA), Endowment Assurance (EA), Anticipated Endowment Assurance (AEA) and Joint Life Assurance or Yugal Suraksha (YS). All the above policies offer bonuses
Below are the bonus rates for each Postal Life Insurance Policy:
WLA Rates: Bonuses for WLA policy have been declared since the financial year of 1967 and has seen a steady improvement over the years which is testament to the quality and reliability of the policy. The WLA bonus rates started off at a mere 28 in the fiscal year ending March 1968 and since then has shown a steady increase year on year. Major jumps came in the fiscal year ending March 1978 when the bonus rate touched 40 and then again in March 1989 when the bonus rate was 80. The bonus rates for the WLA policy was hovering around the 95 mark from the years 1995 to 2002 and fell back down to 90 in 2006 and further down to 85 in 2010 and as of March 2012, the bonus rate for WLA stood at 85
CWA Rates: These rates have also been published since March of 1968. The Bonus rate then stood at 28 and has seen a steady rise since then. Its peak fluctuations came in 1978 when the bonus rate touched 40 and again in 1986 when the bonus rate touched 67. It touched its highest in 1998 when the bonus rate reached 96 and from then it has dropped a slight amount to 85 in 2010 and has stayed at that rate since. As of 2012 the bonus rate for CWA policy was 85
EA Rates: These rates have also been published since March 1968. Though the bonus rate may not stand as high as the WLA or CWA, it has shown a steady improvement since 1968. In 1968, the EA bonus rate stood at 22. Bonus rates reached the 70’s in 1991 and saw rates touch 77 in 2002. The rates however started declining since then and as of 2012 the rates stood at 58
AEA Rates: The AEA bonus rates have been published by PLI since 1968 and has seen a steady climb over the years. The bonus rate reached its all-time high of 77 in 1999. Since then however, the rates have dropped and as of 2012 the bonus rates for AEA stood at 53
YS Rates: The YS Rates have been published by PLI only since 1995 and is a much younger policy as compared to the others. The bonus rate stood at 76 in 1995 and has more or less hovered around this mark. 1999 to 2002 saw the bonus rates reach its highest of 77 but has dropped since then. As of 2012 the bonus rates for YS stood at 58.
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I have taken a life insurance in LIC on five years before. The policy is for 20 years. I am paying premium in the quarterly package the amount which is nominal for me. While getting a policy the agent has given an information about the policy details.
On 10 years before, I took life insurance policy for my spouse in LIC with tenure period of 15 years. Since its money back policy, 5 years once I got amount of 5K which I have received for twice . I use to pay premium on quarterly basis of the amount of 3087 rupees which is nominal. The agent has given an information about the policy details and provided hard copy of documents on time.
I have taken a life insurance in LIC on 9 years before. Tenure period of 15 years. I am paying premium on half yearly package the amount of 6490 rupees which is nominal. The agent has given an information about the policy details. It covers myself and the policy name is Jeevan Anand.
I have taken Life Insurance policy directly through LIC agent .This was a maturity benefit policy for the tenure of 21 years.I am paying the premium on monthly basis .I am paying the premium through online .This policy is still alive and all the details about the policy was clearly explained by the agent.
HDFC Life is one of the worst companies you would want to take your life insurance from. I am writing this review with my personal experience + experiences of some other users who purchased the policy. They are running a scam where about 1 yr after issuing your policy, they automatically cancel it, citing "non disclosure of pre-existing illness" as the reason. The same thing happend with me and many others. I have no such reported illness of any kind. And even if I had, why was the policy issued in the first place? Upon my request to provide an explanation or more detail about this 'illness', no respone was given to me, neither by HDFCLife nor by Policybazaar, through which I had purchased this policy. I was cheated of my one-year premium amount and my policy was lapsed.
If you are at all serious about preserving your mental and financial well-being, do not go anywhere near any of these two companies. They are the biggest fraud in the life insurance market.
I have taken Life Insurance policy directly through LIC agent .This was a maturity benefit policy for the tenure of 15 years .This policy is still alive and got all the relevant details about the policy through the agent .The policy documents was shared on time .I am comfortable with the service.
I have taken Life Insurance policy which was taken through LIC agent.This was an endowement policy and paying the premium on yearly basis .The policy tenure is for 15 years and paying the premium through the agent .This policy is still active and i am comfortable with the service .
Bajaj Allianz life insurance is very flexible. I have taken a policy. The Premium was given as per my budget. Plans and benefits are great, If anyone wants to go a life insurance my first suggestion will be Bajaj Allianz life insurance. Thanks
I took my life insurance policy from LIC around 5 years back and this policy is going to matured in the year of 2026. It was for the safety and protection for the family. I have selected the payment option as very half year and i pay the premium amount of Rs. 2000. I will give the cash to my agent and he will pay in the LIC office.
LIC policy is safe and if you have a long term policy, it will be useful. If i go to their office, the response is fine. They have a good portal to know about the payment premium amount and existing policy details. I make the premium through online. I took the money back policy and it got matured already.
In LIC website, they are updating the policy details on a timely basis. I took my retirement plan in life insurance corporation of India. For the safety purpose, i have selected this company. I am investing the money of Rs. 10K every month. I get the returns after my age of 56. This is a tax benefitable policy.
I have taken money back policy from LIC its because of the safety reason. I have been investing the money of Rs. 10K every month. I purchased the policy 4 years ago. They are providing the sum assured amount of Rs. 1.2 lakhs. This is a tax beneficial policy. I make the premium amount through online.
I didn't use the customer care service till now in LIC where i have taken my life insurance policy. I'm not sure about the plan name but i pay the premium every year once. I have been paying the premium amount of Rs. 17699 and total term period of the plan is 16 years. For the savings purpose, i have chosen LIC.
I have taken Life Insurance policy directly through LIC agent .This policy tenure is 10 years .I am paying the premium through Half yearly basis and paying the premium through Online .The agent gave a clear picture about the policy and not yet faced any difficulties .I am satisfied with the service so far .
I have taken a life insurance in LIC since 1990. This policy term is 20 years. I am paying premium on monthly package and the amount which is nominal. I am paying premium in a cheque mode. While getting a policy my agent has given an information about the policy details and this is a money back policy.
I have taken Life Insurance policy taken through LIC agent.This was a Maturiy benefit policy and each and every details was shared by the agent .This policy is still active and there was no difficulties faced as well. Overall am happy with it.
I have taken a life insurance in LIC on 9 years before. Tenure period of policy is 20 years. I am paying premium on quarterly package the amount of 3K which is nominal. Agent is my neighborhood so he has given an information about this policy. It covers my whole family.
I have taken a life insurance in LIC on 3 years before. The policy is for 16 years. I am paying premium on monthly package the amount of Rs. 17k which is nominal. I am paying premium manually. While getting a policy my agent has given an information about the policy details. It covers myself. It is a jeevan anadha policy
LIC plan is a savings cum income plan and i get the good returns in future. Its covers for life. I took the policy through agent who is my relative recommended me about this policy. My father is taking care of the premium part hence I'm not sure about the coverage value.
I have taken a life insurance policy from LIC more than 5 years.The agent is very supportive and providing proper guidance and this is a JEEVAN ANAND policy. Policy is valid for life long and the tenure is 20 years after some years. I am paying annual premium is Rs.24k, this is a death benefit plan after that my wife will be getting some returns.