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Postal Life Insurance Tax Rebate

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 insurance tax rebate for each scheme.
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Life Insurance
  • Claim up to Rs. 1,50,000 deduction under section 80C*
  • Insurers provide online renewal of policy
  • Choose between annual and monthly premium payment options

The Postal Life Insurance has been around since 1884 and provides life insurance policies for all central and state government employees along with employees from semi-governmental bodies. These insurance policies are basic policies that provide the holder with an assured sum along with accrued bonuses on maturity or pays the nominee the sum assured with bonuses accrued upon the death of the policyholder.

The Postal Life Insurance plans are traditional and do not have any Unit Linked plans or term insurance plans. Since the insurance policies are only for government employees, the premiums are very cheap and the bonuses and sum assured offered for the low premiums are very attractive. The minimum sum assured is RS 20,000 with the maximum sum assured being RS 50 Lacs

The Insurance policies offered through PLI have tax benefits which are predominantly under Section 80C which basically states that a policyholder having a policy issued on or before 31st March 2012 will be eligible to avail a tax deduction of 20% of the sum assured. For those who have availed a policy on or after 1st April 2012 will be eligible to avail a tax deduction of 10% of the sum assured.

Thus the policies offered by PLI not only guarantee an assured sum upon maturity or death but also helps the policyholder in claiming tax deductions and improve savings.

Read More about Postal Life Insurance

Postal Life Insurance for Central Government Employees
Postal Life Insurance Bonus Rates
Postal Life Insurance for the Physically Handicapped
Postal Life Insurance Interest Rate on Loan
Rural Postal Life Insurance

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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Life Insurance Reviews

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  • Max Life Insurance
    "Excellent insurance"
    0.5 5.0/5 "Blown Away!"
    My relation and friend circle chosen the life insurance policy from Max thats the reason i have chosen them. I have been paying the premium amount of Rs. 1 lakh for the annual payment mode. Total term period of the policy is 12 years. Through cheque, i made the premium.
    Was this review helpful? 0
    , pune
    Reviewed on Jul 16, 2019
  • LIC
    LIC Life Insurance
    "Good policy"
    0.5 5.0/5 "Blown Away!"
    Purchased my endowment plan was from LIC and its a brand and trustable company. Endowment plan is a good investment plan. I have selected the term period of 19 years. I am paying the premium amount of Rs. 3500 in every three months once through online.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 16, 2019
  • LIC Life Insurance
    "Good policy"
    0.5 5.0/5 "Blown Away!"
    My endowment plan was taken from Life insurance Corporation of India. I have been paying the premium amount of Rs.11000 and chosen the annual payment mode. Regularly i make my premium through net banking and satisfied with the sum assured amount. The policy term is 21 years.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 16, 2019
  • LIC Life Insurance
    "Good investment plan"
    0.5 5.0/5 "Blown Away!"
    Endowment is a well better policy because its good agreement and i get a good returns in future. I got all the benefits from this policy. I pay the premium amount of Rs. 12000 for half year. I'm happy about the returns. There is 21 years policy. I make the premium through online. LIC terms and conditions are transparent.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 16, 2019
  • LIC Life Insurance
    "Good investment plan"
    0.5 5.0/5 "Blown Away!"
    Purchased my money back from Life insurance Corporation of India. I have been paying the premium amount of Rs. 15000 and i have chosen the half yearly payment mode. I have selected the tenure period of 16 years. Overall, I'm not satisfied with the policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 16, 2019
  • LIC Life Insurance
    "Good investment plan"
    0.5 5.0/5 "Blown Away!"
    I took my money back policy 5 years back. Other than the investment plan, money back policy is better. I have been paying the premium amount of Rs. 8000. I have chosen the half yearly payment mode. Total term period is 20 years. I got the money back directly to my account.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 16, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    Since i'm working as a LIC agent, before taking the policy, i'm very much aware of all the policy details. I took the term insurance policy with LIC. Its a claiming only for normal and accidental death is covered. I'm satisfied with the sum assured amount of Rs. 35 lakhs.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 16, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in LIC before 12 years ago. The policy is for 20 years. I am paying premium in the monthly package. While getting a policy my agent has given an information about the policy details. I use to do payments through an online.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jul 16, 2019
  • LIC Life Insurance
    "Good Service"
    0.5 5.0/5 "Blown Away!"
    I have take Life Insurance policy through LIC agent .I have got all the relevant details about the policy and also received the policy documents on time ,The process was really smooth and convenient according to me .This policy was for the tenure of 20 years .and paying the premium through monthly basis and the premium amount was Rs.15,000.
    Was this review helpful? 0
    , visakhapatnam
    Reviewed on Jul 16, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in LIC on 4 years before. The policy is for 20 years and it is a money back policy. I am paying premium in the quarterly package. While getting a policy my agent has given an information about the policy details but delay to receive the documents. I use to do payments through an online.
    Was this review helpful? 0
    , chennai
    Reviewed on Jul 16, 2019
  • ICICI Prudential Life Insurance
    "Good Term policy with less benefits"
    0.5 4.0/5 "Great!"
    ICICI people have approached me hence i bought the life insurance policy with them. Every year i pay the premium amount of Rs. 15000 for the sum assured amount of Rs. 50 lakhs. This is a term insurance policy. It will cover upto 75 years of my age. In the documents, there is not mentioned about the partial disability and medical illness.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 16, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in LIC taken on 30 years before. The policy is for 33 years. I am paying premium in the monthly package. While getting a policy my agent has given an information about the policy details. They will debit the amount from my salary account for the payments.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jul 15, 2019
  • LIC Life Insurance
    "Good policy for LIC"
    0.5 4.0/5 "Great!"
    I pay the premium amount of Rs. 5000 and presently everything i can do with online for LIC life insurance policy which i'm happy about it. I make the premium through online. More than 12 years back, i bought the LIC policy. I haven't contacted their call centre people. This is a tax benefitable policy.
    Was this review helpful? 0
    , greater noida
    Reviewed on Jul 15, 2019
  • LIC Life Insurance
    "Good Life insurance policy"
    0.5 4.0/5 "Great!"
    No particular reason for choosing the policy of Jeevan Anand. Since my Dad's friend who is working as a LIC agent, hence i have bought the policy from LIC. I'm paying the premium amount of Rs. 32000 which is a annual payment mode. I'm not aware of the sum assured amount.
    Was this review helpful? 0
    , greater noida
    Reviewed on Jul 15, 2019
  • Edelweiss Tokio Life Insurance
    "Good growing company"
    0.5 4.0/5 "Great!"
    One of my friend is working edel weiss insurance and he has recommended me to take the term insurance policy with them. They have done all things on time and they have fixed an appointment for medical checked up. The coverage value is Rs. 1.5 crore and it covers upto 80 years. I have chosen the premium mode of monthly.
    Was this review helpful? 0
    , greater noida
    Reviewed on Jul 15, 2019
  • LIC Life Insurance
    "Good Service"
    0.5 5.0/5 "Blown Away!"
    I have taken Life Insurance policy directly through LIC agent .This policy tenure is for 20 years and this policy name was Jeevan Anand .I am paying the premium on monthly basis and the premium was nominal .I have got all the required details about the policy through the agent .This policy was still active as well .
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 15, 2019
  • ICICI Prudential Life Insurance
    "Nneed to be reduce premium amount"
    0.5 4.0/5 "Great!"
    I have taken a term insurance in ICICI PRUDENTIAL on one year before. The policy is for 65 years but I have taken for 32 years. I am paying premium in the monthly package and the amount is high. While getting a policy I came to know about an information about the policy details through an online.I use to do payment through an online.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jul 15, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    I always like LIC life insurance policy since my family has taken with them and i have a agent whose my family member thats the reason i took the policy with them. I'm paying the premium amount of Rs. 4000 every month and I'm satisfied with the sum assured amount of Rs. 10 lakhs. Through agent i make my premium.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 15, 2019
  • LIC Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I am using the ENDOWMENT PLAN with LIFE INSURANCE CORPORATION OF INDIA where the policy coverage is for self. The maturity period of the policy is for 25 years. The premium paying for 3 months once with the policy. There are no issues with the policy.
    Was this review helpful? 0
    , kolkata
    Reviewed on Jul 14, 2019
  • LIC Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have purchased the life insurance policy with LIFE INSURANCE CORPORATION OF INDIA because it is a Indian company also it is a trusted and traditional. I have purchased BHIMA plan where it has th long term of maturity with good coverage for self.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 14, 2019
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