Postal Life Insurance Premium Calculator

Postal Life Insurance Maturity Calculator provides estimates of maturity value, bonuses, and policy benefits. Know its benefits, advantages, usage, and key factors affecting PLI returns.
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3 min
09-April-2025

Making informed financial decisions is essential when choosing an insurance policy. For many Indians, postal life insurance provides a secure and accessible option. The postal life insurance maturity calculator simplifies this process by helping individuals estimate their maturity benefits and premiums accurately. This tool ensures better financial planning by offering clear insights into potential returns. This article explores the key features of postal life insurance schemes, how the maturity calculator works, and its significance in financial planning.

What is postal life insurance?

Postal Life Insurance (PLI) is one of the oldest insurance schemes in India, initiated in 1884. Originally established for postal employees, it has expanded over the years to include various government and semi-government employees, professionals, and more. PLI provides a range of life insurance policies that cater to different needs, offering a blend of security and savings.

PLI policies are known for their low premiums and high bonus rates compared to other life insurance schemes in India. While it differs from a term insurance policy, the primary goal of PLI is to provide insurance coverage to government employees and other eligible individuals at affordable rates, ensuring their families' financial security.

What is postal life insurance premium calculator?

A postal life insurance premium calculator is an online life insurance calculator that helps potential policyholders estimate the premium amount they would need to pay for a specific policy. This calculator takes into account various factors such as the sum assured, policy term, age of the insured, and the type of policy chosen.

For example, suppose a 35-year-old individual is interested in purchasing an endowment assurance policy with a sum assured of Rs. 10 lakh for a term of 20 years. By entering these details into the PLI premium calculator, they can instantly get an estimate of the monthly or yearly premium they need to pay. This allows for better financial planning and decision-making by helping policyholders compare premium amounts using the postal life insurance premium chart.

Additionally, the postal life insurance maturity calculator enables individuals to calculate the expected maturity amount based on the premiums paid over the policy tenure. This ensures transparency and helps policyholders make well-informed choices regarding their insurance coverage and financial goals.

Advantages of using PLI maturity calculator

The PLI premium calculator and maturity calculator offer several benefits when planning your insurance and savings goals. Here are some key advantages:

  • Quick estimation – Provides instant maturity value projections.
  • User-friendly – Simple interface, accessible on official platforms.
  • Helps financial planning – Assists in budgeting and goal setting.
  • Policy comparison – Compare maturity benefits across various plans.
  • Accurate results – Calculates based on sum assured, policy term, and bonus rate.

How to use the postal life insurance maturity calculator?

To get a clear estimate of your policy’s maturity value, follow these simple steps:

  • Step 1: Visit the official India Post or PLI website.
  • Step 2: Select the ‘Postal Life Insurance Maturity Calculator’ option.
  • Step 3: Enter the sum assured, policy term, and policy start date.
  • Step 4: Input the type of policy (e.g., EA, WLA, etc.).
  • Step 5: Submit details to receive an estimated maturity amount including bonus.

How is postal life insurance premium calculated?

Understanding how your Postal Life Insurance (PLI) premium is calculated helps you plan better and avoid surprises. The premium depends on several factors like your age, the sum assured, the type of PLI plan, and the policy tenure.

Let’s say you’re 30 years old and buying a ₹10 lakh policy for 20 years. Your premium would be lower compared to someone who is 45, because younger policyholders generally pose lower risk. Also, plans with longer tenures and higher coverage come with adjusted premiums.

Here’s a simple overview to help:

Factor

Impact on premium

Age of policyholder

Lower age = Lower premium

Sum assured

Higher cover = Higher premium

Policy tenure

Longer tenure = Usually lower annual premium

Type of plan (e.g., Whole Life, Endowment)

Plan benefits affect cost

Bonus eligibility

Policies with bonuses may have higher premium

Pro Tip

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What are the different types of postal life insurance policies

Following are different types of postal life insurance policies that you can choose from:

Policy type

Description

Whole Life Assurance (Suraksha)

This policy provides life coverage for the entire lifetime of the insured. The postal life insurance premium chart helps determine the premium based on factors like age and sum assured. The maturity benefits, including the sum assured and accrued bonuses, are paid to the nominee after the policyholder’s death. The postal life insurance maturity calculator can help estimate the final payout.

Endowment Assurance (Santosh)

This plan ensures financial security by offering a lump sum payout at maturity or to the nominee in case of the policyholder’s untimely demise. Premiums are structured as per the postal life insurance premium chart, and the postal life insurance maturity calculator helps policyholders plan their savings efficiently by estimating the total returns.

Convertible Whole Life Assurance (Suvidha)

Initially, this policy operates as a whole life plan, but after five years, the policyholder can convert it into an endowment assurance plan. The postal life insurance premium chart provides insights into premium variations before and after conversion, while the postal life insurance maturity calculator estimates the final benefits.

Anticipated Endowment Assurance (Sumangal)

This is a money-back policy that provides periodic payouts during the policy term, ensuring liquidity while securing long-term benefits. The final maturity amount and accrued bonuses are calculated using the postal life insurance maturity calculator, while the postal life insurance premium chart helps determine premium affordability.

Joint Life Assurance (Yugal Suraksha)

Designed for married couples, this plan covers both spouses under a single policy. In case of one partner’s demise, the surviving spouse or nominee receives the sum assured. Using the postal life insurance maturity calculator, couples can estimate their future benefits and refer to the postal life insurance premium chart to determine premium costs.

Children Policy (Bal Jeevan Bima)

This policy provides life coverage for children, ensuring financial security for their future. Parents can calculate premium costs using the postal life insurance premium chart, while the postal life insurance maturity calculator helps estimate the amount receivable at maturity.

 

These policies help individuals and families secure their financial future, and using tools like the postal life insurance premium chart and postal life insurance maturity calculator ensures better planning and decision-making.

What are the details required to calculate the postal life insurance premium on the calculator?

To use the Postal Life Insurance Premium Calculator, you need to provide the following details:

 

  • Age of the insured: The current age of the individual who is seeking insurance coverage.
  • Sum assured: The total amount of money that the policyholder wants to be insured for.
  • Policy term: The duration for which the policy will be active.
  • Policy type: The specific type of PLI policy being considered (e.g., endowment assurance, whole life assurance).
  • Mode of premium payment: Whether the premium will be paid monthly, quarterly, half-yearly, or yearly.
  • Date of birth: For precise age calculation and premium estimation.

 

What are the benefits of postal life insurance calculator

Following are the advantages of using the postal life insurance premium calculator:

 

  • Accurate premium estimation: The calculator provides an accurate estimate of the premium amount, helping policyholders plan their finances better.
  • Time-saving: It eliminates the need for manual calculations, saving time and effort.
  • User-friendly interface: The online tool is easy to use, with a straightforward interface that requires basic details.
  • Immediate results: The calculator provides instant results, allowing for quick decision-making.
  • Comparison tool: Users can compare premiums for different policies and choose the one that best suits their needs.
  • Financial planning: Helps in effective financial planning by giving a clear picture of the financial commitment involved.

 

Difference between PLI premium calculator and maturity calculator

Following is a quick overview of difference between PLI premium calculator and maturity calculator:

Feature

PLI Premium Calculator

PLI Maturity Calculator

Purpose

Calculates monthly/quarterly premium amount

Estimates total maturity amount

User input

Age, policy term, sum assured

Policy type, term, sum assured, start date

Output

Premium amount to be paid

Maturity value including bonuses

Use case

Budgeting for premium payments

Planning for returns on policy maturity

 

Factors that affect the postal life insurance premium amount

Following are the factors that influence the postal life insurance premium:

 

  • Age of the insured: Premiums are generally lower for younger individuals and increase with age.
  • Sum assured: Higher sum assured amounts lead to higher premiums.
  • Policy term: Longer policy terms may result in lower premiums per year, but the total premium paid over time may be higher.
  • Policy type: Different types of policies have varying premium rates due to differences in benefits and coverage.
  • Health condition: Though not always a factor in PLI, the general health and medical history of the insured can influence premiums in other insurance policies.
  • Lifestyle choices: Factors such as smoking and drinking can affect premium amounts.

 

Eligibility criteria for postal life insurance

Following eligibility criteria is required for purchasing postal life insurance:

  • Government and semi-government employees: Employees of central and state governments, defence services, paramilitary forces, and other government institutions are eligible.
  • Professionals: Employees of nationalised banks, government-aided educational institutions, and local bodies.
  • Other specified groups: Professionals such as doctors, engineers, and employees of listed companies.
  • Age limit: The minimum age to apply for PLI is 19 years, and the maximum age limit is typically 55 years.
  • Medical examination: Depending on the policy and sum assured, a medical examination may be required.

What is the bonus structure of postal life insurance?

Once you understand how premiums work, it’s equally important to know how Postal Life Insurance rewards you in the long run. Bonus is a key feature of PLI and significantly boosts your returns. Bonuses are declared annually and depend on the plan you choose.

Here’s a quick look at current bonus rates (subject to change as per government notifications):

PLI policy type

Bonus Rate (per Rs. 1,000 Sum Assured)

Whole Life Assurance (Suraksha)

Rs. 85

Endowment Assurance (Santosh)

Rs. 58

Convertible Whole Life (Suvidha)

Rs. 85 before conversion, Rs. 58 after

Anticipated Endowment (Sumangal)

Not eligible for bonus

Children Policy (Bal Jeevan Bima)

Rs. 58

 

These bonuses are paid out along with the maturity or death claim, adding value to your policy.

Common mistakes to avoid while using the PLI calculator

Using the postal life insurance maturity calculator effectively requires attention to detail. Avoid these common errors:

  • Incorrect policy type – Choosing the wrong scheme may give wrong results.
  • Wrong policy start date – Impacts bonus calculation and maturity duration.
  • Ignoring bonus rates – Not considering bonus assumptions may mislead the maturity value.
  • Outdated data – Ensure you use the latest calculator and updated rates from the official source.

How to make postal life insurance (PLI) online payment?

Managing your policy is now easier than ever. You can make your Postal Life Insurance PLI Online Payment quickly through the official India Post website.

Here’s how you can do it:

  • Visit the Postal Life Insurance PLI Online Payment page.

  • Log in using your customer ID and password.

  • Choose your policy number and view due premiums.

  • Select payment method – net banking, credit/debit card, or UPI.

  • Confirm the amount and make the payment.

Once the payment is successful, you’ll get an instant receipt and SMS/email confirmation. It’s simple, secure, and saves you a visit to the post office.

Conclusion

The postal life insurance premium calculator is an invaluable tool for anyone considering postal life insurance policies. By providing accurate and instant premium estimates, it helps individuals make informed decisions about their insurance needs. Understanding the various aspects of postal life insurance, from the types of policies available to the factors affecting premiums, empowers policyholders to choose the suitable plan for their financial security. As one of the oldest and most reliable insurance schemes in India, postal life insurance continues to offer affordable and comprehensive coverage to a wide range of eligible individuals.

Related articles

PLI Santosh Maturity Calculator

PLI Surrender Calculator

Postal Life Insurance Tax Benefits

Annuity Calculator

ULIP Calculator

Term Insurance Calculator

Frequently asked questions

How to calculate the PLI premium?
To calculate the PLI premium, use the Postal Life Insurance Premium Calculator. Enter details such as your age, sum assured, policy term, type of policy, and mode of premium payment. The calculator will instantly provide the estimated premium amount, helping you plan your finances effectively.

What is the PLI for Rs. 10 Lakh?
For a PLI policy with a sum assured of Rs. 10 lakh, the premium varies based on factors like the policyholder's age, policy term, and type of policy. Using the PLI Premium Calculator, you can input these details to get an accurate estimate of the monthly, quarterly, half-yearly, or yearly premium.

How to calculate the PLI maturity amount?
To calculate the PLI maturity amount, use the Postal Life Insurance Maturity Calculator. Enter the sum assured, policy term, and accrued bonus rates. The calculator will provide the total maturity amount, which includes the sum assured plus the accumulated bonuses over the policy term.

Do I need to provide medical history while using the postal life insurance premium calculator?

No, the postal life insurance premium calculator does not require medical history details. It only considers factors like age, policy type, sum assured, and policy term to estimate the premium.

What factors determine the PLI premium?

The PLI premium is calculated based on the policyholder’s age, policy type, sum assured, and term. The postal life insurance premium chart provides structured premium details for different plans.

How accurate is the estimate given by the postal life insurance calculator?

The postal life insurance maturity calculator provides a close estimate based on inputs. However, the final premium may vary due to policy-specific terms, bonuses, and insurer conditions.

Is it possible to estimate surrender value using the calculator?

Yes, the PLI calculator can be used to estimate surrender value by entering details like policy type, duration, and premiums paid. It offers a close approximation, helping policyholders assess potential returns if they decide to exit the policy early.

Can the calculator be used for every PLI policy type?

The calculator supports most common PLI policy types like Endowment, Whole Life, and Convertible plans. However, for some specialised or older plans, manual calculation or assistance from the post office may be required for accurate values.

Is there a cost to access the PLI calculator online?

No, the PLI calculator is completely free to use online. It is available on the official India Post website and helps users calculate both premium and maturity or surrender values without any charges or hidden fees.

Is login required to access the postal life insurance calculator?

No sign-in or login is required to use the postal life insurance calculator. You can directly access it online, enter the necessary policy details, and instantly receive estimates for premiums, maturity values, or surrender amounts without registering.

Is it possible to pay PLI premiums online?

Yes, PLI premiums can be paid online through the official Postal Life Insurance portal. You can log in, view your policy, and make payments using net banking, UPI, or cards—quick and hassle-free.

Can I surrender my Postal Life Insurance policy before it matures?

Yes, Postal Life Insurance policies can be withdrawn before maturity, subject to certain conditions. Surrender value is paid only after completing the minimum lock-in period, which varies by plan type and policy tenure.

How is the bonus calculated in Postal Life Insurance?

PLI bonuses are declared annually by the government and calculated per ₹1,000 of the sum assured. The amount depends on the policy type and is added to the payout at maturity or on claim settlement.

Can I add or update a nominee in my Postal Life Insurance policy?

Yes, nominees can be added or updated at any time during the policy term. You can do this by submitting a simple nomination form at your nearest post office or via the PLI customer portal.

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*T&C Apply - Bajaj Finance Limited (‘BFL’) is a registered corporate agent of third party insurance products of Bajaj Allianz Life Insurance Company Limited, HDFC Life Insurance Company Limited, Future Generali Life Insurance Company Limited, Life Insurance Corporation of India (LIC), Bajaj Allianz General Insurance Company Limited, SBI General Insurance Company Limited, ACKO General Insurance Company Limited, HDFC ERGO General Insurance Company, TATA AIG General Insurance Company Limited, ICICI Lombard General Insurance Company Limited, New India Assurance Limited, Chola MS General Insurance Company Limited, Zurich Kotak General Insurance Company Limited , Star Health & Allied  Insurance Company Limited, Care Health Insurance Company Limited,  Niva Bupa Health Insurance Company Limited, Aditya Birla Health Insurance Company Limited and Manipal Cigna Health Insurance Company Limited under the IRDAI composite CA registration number CA0101. Please note that, BFL does not underwrite the risk or act as an insurer. Your purchase of an insurance product is purely on a voluntary basis after your exercise of an independent due diligence on the suitability, viability of any insurance product. Any decision to purchase insurance product is solely at your own risk and responsibility and BFL shall not be liable for any loss or damage that any person may suffer, whether directly or indirectly. Please refer insurer's website for Policy Wordings. For more details on risk factors, terms and conditions and exclusions please read the product sales brochure carefully before concluding a sale. Tax benefits applicable if any, will be as per the prevailing tax laws. Tax laws are subject to change. BFL does NOT provide Tax/Investment advisory services.  Please consult your advisors before proceeding to purchase an insurance product. Visitors are hereby informed that their information submitted on the website may also be shared with insurers. BFL is also a distributor of other third-party products from Assistance Services providers such as CPP Assistance Services Pvt. Ltd., Bajaj Finserv Health Ltd. etc. All product information such as premium, benefits, exclusions, sum insured, value added services, etc. are authentic and solely based on the information received from the respective insurance company or the respective Assistance service provider company.

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