pli maturity calculator
By Okbima 15 May 2024 32

PLI Maturity Calculator 2024: Types Of PLI Maturity Calculator

 

The PLI Maturity Calculator 2024 is a tool to help policyholders of Postal Life Insurance (PLI) plans estimate the maturity amount they can expect once their policy reaches its maturity date in 2024. PLI calculator maturity amount is based on the policyholder's age, premium amount & policy term.

 

What Is The PLI Maturity Calculator?

The PLI (Postal Life Insurance) Maturity Calculator is an online tool to estimate the maturity value of a Postal Life Insurance Policy. It helps policyholders to determine the amount they would receive on the maturity of their policy. The calculator shows the amount based on many factors such as the sum assured, policy term, age of the insured & accrued bonuses. It calculates the total maturity value, including any bonuses, based on the policy's details and the insurer's terms.

 

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How To Use Postal Life Insurance Maturity Calculator?

There isn't any official postal life insurance maturity calculator directly available on the India Post website. However, you can get a calculator on different websites.

  • Find A PLI Maturity Calculator: Search online for "PLI maturity calculator".

  • Input your details: The calculator will ask for information like your current age and gender, desired policy term (number of years you want to be covered) & sum assured (amount of insurance coverage you desire).

  • Calculate: Once you enter your details, click the "calculate" button.

  • Review the results: The calculator will provide an estimated maturity value. This should include the sum assured you selected and any bonuses that might accrue over the policy term.

 

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Different Types Of PLI Maturity Calculators

PLI offers many policy types to cater to different needs. To accurately estimate your maturity benefit, you'll need a calculator specific to the PLI policy you're considering. Here are some examples of PLI policy types and their calculators.

  • PLI Suraksha Maturity Calculator: This estimates the maturity value for the whole life assurance policy (Suraksha).

  • PLI Santosh Maturity Calculator: This is for the endowment assurance policy (Santosh), which pays out a lump sum at maturity or in case of death during the policy term.

  • PLI Suvidha Maturity Calculator: This caters to the convertible whole life assurance policy (Suvidha), which offers flexibility to convert from a whole life policy to a term insurance policy later.

  • PLI Sumangal Maturity Calculator (or PLI Gram Sumangal Calculator): This estimates maturity benefits for the anticipated endowment assurance policy (Sumangal/Gram Sumangal), which pays a guaranteed sum assured and bonuses on maturity.

  • PLI Yugal Suraksha Maturity Calculator: This is for the joint life assurance policy (Yugal Suraksha), which offers a death benefit to the surviving spouse.

  • PLI Bal Jeevan Bima Maturity Calculator: This estimates the maturity value for the children's policy (Bal Jeevan Bima).

 

Why Use PLI Maturity Calculator?

Using the PLI (Postal Life Insurance) Maturity Calculator offers many advantages like easily accessible, reducing manual tasks, helping in financial planning, etc.

  • Easily Accessible: It offers a convenient online tool accessible anytime, anywhere, allowing policyholders to quickly estimate their policy's maturity value.

  • Reduces Manual Tasks: By automating the calculation process, it eliminates the need for manual computations, saving time and effort.

  • Helps in Financial Planning: Policyholders can use the calculator's results to better plan their finances, as it provides an estimate of the amount they will receive on the maturity of their PLI policy.

  • Accurate Calculations: The calculator ensures accuracy by considering many factors such as the sum assured, policy term, age of the insured & accrued bonuses, providing a reliable estimation of the maturity value.

 

Choose The Best Policy For Your Family Needs: Compare Options Online!

 

Information Need To Calculate PLI Maturity Amount

To calculate the maturity amount of a Postal Life Insurance (PLI) policy, some details are required like policy details, premium payment details, accrued bonuses, etc.

  • Policy Details: You’ve to give your policy details like the policy number, type of PLI policy (such as Endowment Assurance or Whole Life Assurance), and the sum assured.

  • Premium Payment Details: Give details regarding premium payments made like the frequency of payments (e.g., yearly, half-yearly, quarterly, or monthly).

  • Accrued Bonuses: If applicable, details of any bonuses accrued over the policy term.

  • Policy Term: The duration for which the policy has been active.

  • Insured's Age: The age of the insured individual at the time of policy purchase & maturity.

  • Interest Rate: The interest rate used to calculate the maturity value, which is fixed by the insurer.

 

Read More:

Surrender Value In Insurance: Types & How You Can Use Effectively?

Universal Life Insurance Policy In India: Benefits, Types & How It Works?

What is Life Insurance Policy? Benefits & How Does it Work in India

Types of Life Insurance: Definition & Benefits in India 2024

What is Saral Jeevan Bima Yojana? Benefits, Coverage & Eligibility

 

Conclusion

In conclusion, the PLI maturity calculator is a useful tool for individuals looking to calculate the maturity amount of their Postal Life Insurance policy. There are many types of PLI maturity calculators available online, each needs specific information such as policy details, premium amount & policy term. Using a PLI maturity calculator can help individuals plan for their financial future and make informed decisions about their insurance policies. For the best insurance policy, you can contact “Our Experts”.

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