Postal Life Insurance - PLI (English)

Postal Life Insurance (PLI) was introduced on 1st February 1884
Maximum two children of policy holder (parent) are eligible

• Not eligible for bonus if surrendered before 5 year for whole life assurance
• Death benefits are paid to either of the survivors in the event of death of spouse or main policy holder for yuvak Suraksha policy

• Convertible Whole Life Assurance can be converted into Endowment Assurance after 5 years not later than 6 years of taking policy. If not converted, policy will be treated as Whole Life Assurance
• CWLA Not eligible for bonus if surrendered before completion of 5 years
• No medical examination of child necessary

Whole Life Assurance (Suraksha)

• Age- 19-55 years

•  Sum Assured- Minimum ₹ 20,000; Maximum ₹ 50 lac

• Loan - after 4 years

• Surrender - after 3 years

•  Bonus- ₹ 85/- per ₹ 1000 sum assured per year

Convertible Whole Life Assurance (Suvidha)

• Age: 19-50 years

•  sum assured -.Minimum  ₹ 20,000; Maximum ₹ 50 lac

• Loan - after 4 years

• Surrender-  after 3 years

•  Bonus- ₹ 85/- per ₹ 1000 per year (for WLA policy if not converted to Endowment Assurance)

Endowment Assurance (Santosh)

• Age: 19-55 years

•  sum assured-. Minimum    ₹ 20,000; Maximum ₹ 50 lac

• Loan - after 3 years

• Surrender -after 3 years

•  Bonus – ₹ 58/- per ₹ 1000 sum assured per year

Anticipated Endowment Assurance (Sumangal)

•  term: 15 years and 20 years

• Minimum age 19 years; maximum age at entry 40 years for 20 years’ term policy & 45 years for 15 years’ term policy

• Survival benefits paid periodically as under: -

• 15 years Policy- 20% each on completion of 6 years, 9 years & 12 years and 40% with accrued bonus on maturity

• 20 years Policy- 20% each on completion of 8 years, 12 years & 16 years and 40% with accrued bonus on maturity

•  bonus -₹ 53/- per ₹ 1000 sum assured per year

Joint Life Assurance (Yugal Suraksha)

•  sum assured -. Minimum  ₹ 20,000; Maximum ₹ 50 lac

• Age: 21-45 years
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• Minimum term of policy 5 years and maximum 20 years

• Loan - after 3 years

• Surrender-  after 3 years

• Last declared Bonus- ₹ 58/- per ₹ 1000 sum assured per year

Children Policy (Bal Jeevan Bima)

• Children between 5- 20 years of age are eligible

•  sum assured-.Maximum   ₹ 3 lac or equal to the sum assured of the parent, whichever is less

• Policy holder (parent) should not be over 45 years of age.

• Loan- No loan admissible

• Has facility for making it paid up, provided premiums are paid continuously for 5 years

• Surrender -not available

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• Attract the rate of bonus applicable for Endowment policy (Santosh) i.e. last bonus rate is ₹ 58/- per ₹ 1000 sum assured per year.