In today’s world, financial planning is crucial. Securing your future and your loved ones’ well-being requires careful consideration, and life insurance plays a vital role in this strategy.
Postal Life Insurance (PLI) offers a variety of plans, including Endowment Assurance (Santosh), diverse needs and budgets. This is where a PLI premium calculator comes in – a powerful tool to empower you to make informed financial decisions.
A PLI premium calculator acts as your guide, providing an estimated Postal Life Insurance -Endowment policy known as Sanoths plan which is the most popular plan of the PLI premium calculation
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Endowment Assurance (Santosh) Insurance Plan by Postal Life Insurance: Key Points
- Maturity Benefit: Receive the sum assured amount and any accrued bonuses upon reaching a predetermined maturity age (35, 40, 45, 50, 55, 58, or 60 years).
- Death Benefit: In case of the policyholder’s death, the full sum assured amount with accrued bonuses is paid to the assignee, nominee, or legal heir.
- Eligibility:
- Minimum Entry Age: 19 years old
- Maximum Entry Age: 55 years old
- Sum Assured:
- Minimum: ₹20,000
- Maximum: ₹50 lakhs
- Loan Facility: Available after 3 years of policy holding. You can borrow against the accumulated surrender value.
- Policy Surrender: Allowed after 3 years.
- No bonus if surrendered before 5 years.
- A proportionate bonus on the reduced sum is assured if surrendered after 5 years.
- Bonus Rate: Currently ₹52 per ₹1,000 sum assured per year (may change). This is a bonus, not an interest rate.
May also check our other calculator, PLI maturity value calculator, Loan Calculator, etc.