What is current bonus rate of PLI?

Postal Life Insurance Scheme Bonus:

How is PLI maturity amount calculated?

For the Endowment Assurance Plan under PLI, one can follow the below-mentioned steps for premium or maturity calculation:

1. Enter the sum assured amount.
2. Enter the year of purchase of the policy.
3. Enter your current age.
4. Enter your maturity age.
5. Click on the ‘Calculate’ button and the results will be displayed.

What is the value of maximum sum assured in PLI?

Question: What is the minimum and maximum sum assured limit under PLI? Reply: Minimum ₹ 20,000 and maximum ₹ 50 lakhs for all plans except children policy. For Children Policy, maximum sum assured limit is ₹ 3 lakh.

Is PLI better than LIC?

Premium Rate-When compares to LIC or any private insurers, PLI offers cheap premium. So this is the most advantage of buying endowment plans with PLI than with LIC. Bonus Rate-Bonus offered by PLI is in the range of 7% or more. Whereas currently, LIC offers a bonus rate of around 4% to 5%.

Which is the best PLI policy?

Convertible Whole Life Assurance (Suvidha) Anticipated Endowment Assurance (Sumangal) Joint Life Assurance (Yugal Suraksha) Children Policy (Bal Jeevan Bima)

Is PLI maturity tax free?

The premium of Rs 45,000 exceeds 10% of the sum assured. Therefore, the insurance maturity proceeds are taxable, and not entitled to exemption under section 10(10D) of the Income Tax Act. Since the maturity payment is above Rs 1 lakh, the insurance company is liable to deduct tax on the maturity proceeds.

Which plan is best in PLI?

Salient Features of PLI policies

1. Whole Life Assurance (Suraksha) Minimum & Maximum age at entry: 19-55 years.
2. Anticipated Endowment Assurance (Sumangal) It is a Money Back Policy with maximum sum assured of ₹ 50 lacs, best suited to those who need periodical returns.
3. Children Policy (Bal Jeevan Bima)

Is PLI a good option?

PLI is a good option for people, who are ‘eligible’ for it, as it charges lower premiums and offers higher returns than comparable policies of life insurers. Started in 1884, PLI is managed by the Department of Posts under the Government of India.

What is PLI deduction from salary?

The Insurance policies offered through PLI have tax benefits which are predominantly under Section 80C which basically states that a policyholder having a policy issued on or before 31st March 2012 will be eligible to avail a tax deduction of 20% of the sum assured.

Is PLI a good investment option?

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