pli surrender value calculator
By Okbima 20 May 2024 612

PLI Surrender Value Calculator Online: Surrender Value Table For Calculation

 

PLI Surrender Value Calculator Online is a convenient tool that allows policyholders to easily determine the surrender value of their Postal Life Insurance policies. By simply providing some basic information such as policy number, term of the policy, and premium amount, users can get an accurate calculation of their surrender value. Let’s understand how it determines, the postal life insurance table for calculation, etc.

 

What Is The Surrender Value Of Postal Life Insurance?

The surrender value of your Postal Life Insurance policy is the amount you'd get if you choose to cancel the policy and receive a cash payout instead. It depends on a few factors like policy term, paid premiums, etc.

  • Policy Term and Premiums Paid: There's a minimum policy term and premium payment requirement to receive a surrender value. For PLI policies less than 10 years, you need to have paid premiums for at least 2 years, and for policies 10 years or more, at least 3 years of premiums.

  • Age: Your age at the time of surrender is an important factor to consider.

  • Surrender Factor: This is a pre-determined value based on the policy term and when you surrender it.

 

PLI Calculator For Surrender Value

Unfortunately, there isn't an official PLI calculator for surrender value directly available on the Postal Life Insurance (PLI) website. However, you can contact India Post to get an accurate surrender value for your specific policy. They have access to the latest surrender factor tables which determine the exact amount.

 

Protect Your Family Future: Compare Life Insurance Now!

 

How Does The PLI Surrender Value Determine?

The surrender value of your Postal Life Insurance (PLI) policy is determined by many factors like base amount, policy term, etc.

  • PLI surrender value = (Paid up value + Bonus1 based on the reduced sum assured) x surrender factor
  • Paid-up value = (Sum assured x premium of no. of years or months)/Total policy tenure in months or years
  • Bonus1 = (Paid up value x Policy Tenure x bonus1 rate)/1000
  • The surrender factor is pre-determined & can be found in the PLI surrender factor table online for easy reference.
  • The bonus1 is given in April to policies that have had premiums paid consistently until March.

 

Peace Of Mind For Yourself, Protection For Your Family: Get A Quote!

 

Table For Calculation Of Surrender Value

Here is the official table for the calculation of surrender value for the Postal Life Insurance Policy which can help you to get an estimate for your surrender value calculation.

 

Age

EA/30

EA/33

EA/35

EA/40

EA/45

EA/50

EA/55

EA/58

EA/60

WL

20

0.616

0.533

0.485

0.383

0.303

0.242

0.196

0.174

0.162

0.101

21

0.646

0.599

0.508

0.401

0.318

0.254

0.205

0.182

0.169

0.105

22

0.678

0.587

0.533

0.42

0.333

0.266

0.214

0.19

0.176

0.109

23

0.712

0.616

0.559

0.441

0.349

0.278

0.224

0.199

0.184

0.113

24

0.747

0.646

0.587

0.462

0.366

0.291

0.234

0.208

0.192

0.118

25

0.784

0.678

0.616

0.485

0.383

0.305

0.245

0.217

0.201

0.123

26

0.823

0.712

0.646

0.508

0.402

0.319

0.257

0.227

0.21

0.128

27

0.864

0.747

0.678

0.533

0.421

0.335

0.269

0.238

0.22

0.133

28

0.907

0.784

0.712

0.56

0.441

0.351

0.281

0.249

0.23

0.139

29

0.952

0.823

0.747

0.587

0.463

0.367

0.295

0.26

0.241

0.145

30

 

0.864

0.784

0.616

0.485

0.385

0.309

0.272

0.252

0.151

31

 

0.907

0.823

0.646

0.509

0.404

0.323

0.285

0.264

0.158

32

 

0.952

0.864

0.678

0.534

0.423

0.339

0.299

0.276

0.165

33

   

0.907

0.712

0.56

0.443

0.355

0.313

0.289

0.172

34

   

0.952

0.747

0.588

0.465

0.372

0.327

0.302

0.18

35

     

0.784

0.617

0.488

0.389

0.343

0.316

0.188

36

     

0.823

0.647

0.511

0.408

0.359

0.331

0.196

37

     

0.864

0.679

0.536

0.428

0.376

0.347

0.204

38

     

0.907

0.712

0.562

0.448

0.394

0.363

0.213

39

     

0.952

0.748

0.59

0.47

0.413

0.38

0.223

40

       

0.784

0.618

0.492

0.432

0.398

0.232

41

       

0.823

0.649

0.516

0.453

0.417

0.242

42

       

0.864

0.68

0.541

0.474

0.437

0.253

43

       

0.907

0.714

0.566

0.497

0.457

0.264

44

       

0.952

0.749

0.594

0.52

0.478

0.275

45

         

0.785

0.622

0.545

0.501

0.286

46

         

0.824

0.652

0.57

0.524

0.298

47

         

0.864

0.683

0.597

0.548

0.31

48

         

0.907

0.716

0.625

0.574

0.322

49

         

0.952

0.75

0.655

0.6

0.334

50

           

0.787

0.686

0.628

0.347

51

           

0.825

0.713

0.657

0.36

52

           

0.865

0.752

0.688

0.374

53

           

0.907

0.788

0.72

0.387

54

           

0.952

0.82

0.753

0.401

55

             

0.805

0.789

0.415

56

             

0.908

0.826

0.429

57

             

0.952

0.866

0.443

58

               

0.908

0.458

59

               

0.952

0.473

 

Disclaimer: We have taken the surrender value table from the official website of India Post which can be changed in the future.

 

Why Use PLI Surrender Value Calculator Online?

There are many advantages to using an online PLI surrender value calculator like it provides convenience, quick results & to make an informed decision.

  • Convenience: The PLI calculator can be accessed from anywhere, anytime. You don't need to contact your insurance company or a financial advisor to get an estimate.
  • Quick results: The calculator can give you an approximate surrender value in just a few minutes. This can be helpful if you're considering surrendering your policy and need to know how much money you might get.
  • Informed decisions: By knowing the surrender value, you can make a more informed decision about whether or not to surrender your policy. Surrendering a policy can have negative consequences, such as losing out on potential future benefits, so it's important to know the pros & cons before making a decision.

 

Read More:

PLI Maturity Calculator 2024: Types Of PLI Maturity Calculator

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

Life Insurance Tax Benefits In India: Eligibility Criteria & How To Save Tax?

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

Types of Life Insurance: Definition & Benefits in India 2024

 

Conclusion

In conclusion, the PLI surrender value calculator online provides a convenient and efficient way for policyholders to determine the cash value of their insurance policy to decide if they want to surrender their policy or not. The surrender value table from Indian Post for the calculation of surrender value is a helpful tool that allows policyholders to fill in relevant information and quickly get an accurate estimate of the cash value of their policy. For expert guidance, you can contact “Our Experts”.

Leave a Reply

Recent Post

can-health-insurance-company-reject-claim

Can Health Insurance Company Reject Claim? Top 20 Reasons

14 Jun 2024
can life insurance policy be used as collateral

Can Life Insurance Policy Be Used As Collateral?

14 Jun 2024
tvs-ronin

TVS Ronin: On-Road Price, Specifications, Features & Expert Review

13 Jun 2024

popular Post

best-time-to-visit-goa-india

Best Time to Visit Goa India 2024: Avoid Crowds

12 Mar 2024
best-mileage-cars-in-india

Best Mileage Cars in India 2024

20 Feb 2024
Best-Bike-in-India-200cc

Best 200cc Bikes in India 2024

30 Dec 2023