Is PLI A Good Option?

Can PLI pay online?

What are the pre-requisites to pay PLI/ RPLI policy premium online.

Register for PLI/RPLI online services..

Which PLI scheme is best?

Salient Features of PLI policiesWhole Life Assurance (Suraksha) Minimum & Maximum age at entry: 19-55 years. … 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. … Children Policy (Bal Jeevan Bima)

What are the benefits of PLI?

Benefits of Investing in PLI:The insured can avail income tax exemption as provided under Sec. … The premium payable for the sum assured and coverage is much lower than that payable under any other .Additional facilities offered under this policy are Assignment, Loan, Conversion, Surrender and Paid Up Value options.More items…

Who qualifies for postal life insurance?

Rural Postal Life Insurance (RPLI) The scheme shall cover all persons , male or female , who permanently reside in rural areas and are ordinarily residents in India to the exclusion of foreigners and non resident Indians provided they have attained majority.

What is PLI in bank wage revision?

The wage revision for public sector bank officers that had been pending since 2017, has finally been approved on paper. Employees of public sector banks, a few private banks and some foreign banks will now get 15 per cent pay hike along with performance-linked incentive (PLI).

How PLI bonus is calculated?

For example, if the bonus is Rs 50 per Rs 1000 in a policy with Rs 1 lakh of sum assured, the annual bonus amount will be Rs 5,000 payable on maturity or on death to the nominee. The rates of Bonus will be applicable for the Financial Years 2016-17, 2017-18, 2018-19 and 2019-20.

Can I close my PLI?

Children policy can be surrendered after 60 months. No surrender for AEA policy. Bonus will be taken into account after 5 years for surrender value calculation on the paid up value. But surrendering any policy prematurely is always a loss to the insurant.

How much loan can I get on PLI policy?

The maximum admissible amount of loan will be 90% of surrender value of the policy which will be subject to the condition that amount of loan should not become less than Rs. 1000/-.

Is PLI or LIC better?

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%.

Is PLI safe?

Postal Life Insurance (PLI), a 125-year-old life insurance scheme run by the department of posts, is a good option for people eligible for it as it charges lower premiums and offers higher returns than comparable policies of life insurers.

What is PLI salary?

A performance-linked incentive (PLI) is a form of payment from an employer to an employee, which is directly related to the performance output of an employee and which may be specified in an employment contract.

Is PLI maturity tax free?

Yes, premiums paid towards PLI are tax exempted as per Section 80C of the Income Tax Act, 1961. … Is Postal Life Insurance maturity amount taxable? No, the maturity amount will be taxable only if the sum assured in less than the prescribed limit.

Who is eligible for PLI policy?

It now covers employees of Central and State Governments, Central and State Public Sector Undertakings, Universities, Government aided Educational institutions, Nationalized Banks, Local bodies, autonomous bodies, joint ventures having a minimum of 10% Govt./PSU stake, credit co-operative societies etc.