What is the current bonus rate of postal life insurance?
Postal Life Insurance Scheme Bonus:
| Type of Insurance Policy | Rate of Bonus |
|---|---|
| Endowment Assurance (EA) | Rs. 50 per Rs. 1000 of the sum assured |
| Whole Life Assurance (WLA) | Rs. 65 per Rs. 1000 of the sum assured |
How bonus on PLI is calculated?
The government has declared the bonus applicable to Post Office Life Insurance (PLI). On the Whole Life Assurance the bonus has been set at Rs. 76 per thousand of sum assured while for Endowment Assurance including Joint life and children policies, Rs. 52 per thousand of sum assured will be the bonus amount.
What is the bonus rate of yugal Suraksha?
Joint Life Assurance (Yugal Suraksha)
| Postal Life Insurance plan type | Bonus rate |
|---|---|
| Endowment Assurance (Santosh) | 58% |
| Convertible Whole Life Assurance (Suvidha) | 85% |
| Anticipated Endowment Assurance (Sumangal) | 53% |
| Joint Life Assurance (Yugal Suraksha) | 58% |
Which scheme is best in PLI?
6 Best Postal Life Insurance (PLI) Plans for Government Employees
- Whole Life Assurance (Suraksha)
- Endowment Assurance (Santosh)
- Convertible Whole Life Assurance (Suvidha)
- Anticipated Endowment Assurance (Sumangal)
- Joint-Life Insurance (Yugal Suraksha)
- Children Policy (Bal Jeevan Bima)
How is PLI 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.
What is PLI in CTC?
Performance Linked Incentive (PLI) is part of my CTC, which is a fixed component.
Which is best LIC or PLI?
In terms of premiums, LIC has a higher rate of a premium compared to PLI. Many PLI plans offer a bonus which is quite high. Many LIC plans also offer bonus. However, the bonus rate is low compared to PLI plans.
What is terminal bonus?
A type of bonus paid out when a with-profits insurance policy (usually an endowment) comes to an end. The insurer can decide to pay either when the policy matures or when the policyholder dies, whichever comes first. It is paid out of the profits from the insurance company’s investments.
Is PLI better than LIC?
Is PLI a good investment?
PLI is a good option for people, who are ‘eligible’ for it, as it charges lower premiums and offers higher returns than comparable policies of life insurers. Started in 1884, PLI is managed by the Department of Posts under the Government of India.
Can we take loan against PLI?
PLI Policies offer the facility of taking out loans at the cost of lowering the bonus received or forfeiting it altogether. Whole Life Assurance policies offer the loans only after the completion of 4 policy years. However, PLI does not offer the option of taking out home loans.
What is the bonus rate for postal life insurance?
As of March 2014, the bonus rate for the plan is 53%. This plan covers a couple where one of the spouses is eligible for the postal life insurance policy. The plan covers both the individuals for the sum assured amount chosen. The features of the plan are the same as an endowment policy.
Who is eligible for Postal Life Insurance ( PLI )?
The joint life assurance from Postal Life Insurance requires any one of the spouses to be eligible for PLI policies. The scheme has the following features and requirements: Scheme: Both spouses are covered to the extent of sum assured + accrued bonus with only one premium.
When do you get bonus in PLI plan?
Bonuses will not be applicable if a policyholder borrows a loan from the policy within the first 5 years of the policy term. Proportionate bonuses are provided on the reduced sum assured if a policyholder borrows a loan from the policy after the completion of the first 5 years of the policy term.
Which is the maximum sum assured in postal life insurance?
Postal Life Insurance Scheme offers life insurance cover with high returns on premium. The maximum sum assured offered under this scheme is Rs. 50 lakh.
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