Postal Life Insurance Scheme was started in 1884 and basically for the post office employees. Later it was extended to employees of Central and State Public Sector Enterprises, Government Aided Educational Institutions, Central and State Governments, Cooperative Societies, Universities, Government aided Educational Institutions, Joint Ventures having a minimum of 10% Government/ PSU stake, Autonomous Bodies, Local Bodies, etc. At present, it provides 46 lakh insurance policies to policyholders in the country. The life insurance cover under this scheme provides high returns on premiums. The maximum sum assured that you can expect from this scheme is INR 50 lakh.
When you buy a Postal Life Insurance plan, it should also have a PLI calculator. The PLI calculator will help in figuring out the premium that you have to pay for the coverage. The postal life insurance premium calculator also helps in calculating the premium amount by focusing on the GST rate at present. The PLI calculator is very helpful for the customers as they can get the required assistance while choosing the best Post Life Insurance plans for themselves on the basis of their requirements.
Nevertheless, before you start using the PLI calculator, you need to ensure that you have all the required correct information so that you can get the right premium estimate for the life insurance you are taking. Since the calculator is online and free, you can experiment with several amounts. This will help you in finding the most affordable premium on the basis of your budget. Apart from this, as you compare all the available policies, you can also find the one that best suits your requirements as well as expectations.
However, you also need to be aware of the fact that the premium amount you get from the PLI calculator is just an estimate. You must not consider this as the actual amount or the final amount of premium that you would be paying. The final amount may differ from what you get in the PLI calculator.
Advantages of using a PLI Calculator
There are several advantages of using a PLI calculator. Some of them are listed below:
- It is an online tool that is absolutely free. This means anyone can use it without paying any money.
- To use the online PLI calculator, you would be required to register on the website, which is very simple.
- Since there is no manual task involved in a PLI calculator, the risk of discrepancy is lesser.
- You can save a lot of your precious time by using the calculator.
- Since it is online, you can use it from any corner of the world without any difficulty. To get the estimate of the insurance premium cost for the coverage, you would be required to enter all the data properly and correctly.
Details to be entered for using PLI calculator
In order to use a PLI calculator, you have to enter some of the details in the PLI calculator. Here are they mentioned below:
- Policy Name
- Contact Number
- Pin Code
- Email Id
- Birth Date
- Monthly Income
- Sum Assured
- Policy Cease Date
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How to use a PLI calculator?
To use the PLI calculator properly, you need to follow the steps mentioned below:
- You have to find the webpage of Postal Life Insurance. On the right-hand side of the webpage, you have to click on the link ‘Buy Policy’
- Now enter the subtleties aptly on a new page.
- You also have to enter the captcha image and click on the ‘get Quote’ link as the subtleties is provided.
- Now you can find the monthly PLI premium on the screen.
If you want to know more about the PLI calculator, you can visit the IIFL website. As you visit the website, you can also get to know about term insurance and the various policies available in the market.