Postal Life Insurance scheme (PLI) is one of the oldest insurance policies in India and was launched in the year 1884. PLI has grown substantially since then and has sold over 46 lakh policies. It provides cover to both central and state government officials. There are six types of schemes under this policy, each one catering to different needs of its customers.
You can purchase any one of the schemes under Postal Life Insurance provided that you meet the eligibility criteria. You can check the premiums you will have to pay depending on the cover amount chosen by you.
There are various types of premium calculators online that can help you compute the premium you will be required to pay depending on the data provided by you.
On purchasing a postal life insurance policy, you will have to choose an appropriate cover amount and the frequency at which you will pay the premiums. Your age, financial capabilities, and other data will help you calculate the premium that you will be required to pay.
There are various insurance companies which help you decide the premium you need to pay depending on the plan that you are interested in and the cover amount chosen by you. However, Postal Life Insurance does not offer any premium calculators through which you can compute the premium you will be needed to pay.
Hence, you can take help of any third-party premium calculators and know the premiums that you will be required to pay.
The steps to calculate postal life insurance premium are very simple. All you need to do is visit the official website of a legit third-party premium calculating website. On visiting a third-party premium computing website, you might be asked for the following details:
Below are the steps that you will have to follow in order to calculate premiums for a postal life insurance policy:
Hence, in the end, the process to calculate the premium for a postal life insurance policy is very simple. All that you need is a secured internet connection and a laptop. You must always compare and check which plan is the most suitable for you before proceeding to purchase it. Once you like a plan, you can check the premiums that you will be needed to pay and once you are sure that you can afford the plan and is suitable for you, you can go ahead and purchase it for yourself.
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