Calculation results for PLI Whole Life Assurance (Suraksha) Insurance Plan
Insurant's Age on next Birthday :
28 years
Age on Maturity :
80 years
Premium Ceasing Age :
58
Premium Ceasing year :
2055
Sum Assured :
₹ 5,00,000
Policy Tenure:
30 years
Bonus Rate at present:
₹ 76/- per ₹ 1000 sum assured per year
Premium without GST
₹ 975 Monthly
[1000 - 25(rebate)]
₹ 2,925 Quarterly
[3000 - 75(rebate)]
₹ 5,850 Half-yearly
[6000 - 150(rebate)]
₹ 11,700 Yearly
[12000 - 300(rebate)]
First Year Premium (with GST)
| Mode | Premium | GST @4.5% | Net Premium |
|---|---|---|---|
| Monthly | ₹ 975 | ₹ 44 |
₹ 1,019
|
| Quarterly | ₹ 2,925 | ₹ 132 |
₹ 3,057
|
| Half-yearly | ₹ 5,850 | ₹ 263 |
₹ 6,113
|
| Yearly | ₹ 11,700 | ₹ 527 |
₹ 12,227
|
Renewal Premium (with GST)
| Mode | Premium | GST @2.25% | Net Premium |
|---|---|---|---|
| Monthly | ₹ 975 | ₹ 22 |
₹ 997
|
| Quarterly | ₹ 2,925 | ₹ 66 |
₹ 2,991
|
| Half-yearly | ₹ 5,850 | ₹ 132 |
₹ 5,982
|
| Yearly | ₹ 11,700 | ₹ 263 |
₹ 11,963
|
Maturity Details
Policy Maturity Date :
05/01/2077
Sum Assured :
₹ 5,00,000
Bonus :
₹ 11,40,000
Terminal Bonus :
₹ 1,000
Maturity Value :
₹ 16,41,000
Maturity Value Break-up
Total Installments to be paid
| Mode | Total Installments |
|---|---|
| Monthly | 360 |
| Quarterly | 120 |
| Half-yearly | 60 |
| Yearly | 30 |
Total Amount Paid (without GST/with GST)
| Mode | Total Premium | Total GST | Total Amount |
|---|---|---|---|
| Monthly | ₹ 3,51,000 | ₹ 8,184 | ₹ 3,59,184 |
| Quarterly | ₹ 3,51,000 | ₹ 8,184 | ₹ 3,59,184 |
| Half-yearly | ₹ 3,51,000 | ₹ 8,182 | ₹ 3,59,182 |
| Yearly | ₹ 3,51,000 | ₹ 8,154 | ₹ 3,59,154 |
Facilities available under Whole Life Assurance (Suraksha) Insurance Plan of Postal Life Insurance
- This is a scheme where the assured amount with accrued bonus is payable to the insured either on attaining the age of 80 years, or to his/her legal representatives or assignees on death of the insured, whichever occurs earlier, provided the policy is in force on the date of claim.
- Minimum age at entry for Whole Life Assurance (Suraksha) Insurance Plan : 19 years
- Maximum age at entry for Whole Life Assurance (Suraksha) Insurance Plan: 55 years
- Minimum Sum Assured for Whole Life Assurance (Suraksha) Insurance Plan is ₹ 20,000
- Maximum Sum Assured for for Whole Life Assurance (Suraksha) Insurance Plan is ₹ 50 lac
- Loan facility is also available in for Whole Life Assurance (Suraksha) Insurance Plan after 4 years
- Whole Life Assurance (Suraksha) Insurance Plan Policy may also be Surrendered after 3 years but insurant is not Not eligible for bonus if surrendered before 5 years.
- Whole Life Assurance (Suraksha) Insurance Policy can be converted into Endowment Assurance Policy upto 59 years of age of the insurant provided the date of conversion does not fall within one year of the date of cessation of premium payment or date of maturity.
- In Whole Life Assurance (Suraksha) Insurance Plan Premium paying age can be opted for as 55,58 or 60 years.
- In Whole Life Assurance (Suraksha) Insurance Plan Proportionate bonus on reduced sum assured is paid if policy is surrendered
- Present Bonus- ₹ 76/- per ₹ 1000 sum assured per year for In Whole Life Assurance (Suraksha) Insurance Policies
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