Postal Life Insurance is the oldest government insurance scheme. It was started on 1 February 1884 in the British era. In today’s time, 6 schemes are run under this scheme.
Like the bank, many savings schemes are also run in the post office. Facilities like RD and Fixed Deposit are available from savings account. But do you know that life insurance facility is also available in the post office? It is known as Postal Life Insurance (PLI) i.e. Postal Life Insurance.
You will be surprised to know that PLI is the oldest government insurance scheme. It was started on 1 February 1884 in the British era. In today’s time, 6 schemes are run under this scheme. Of which today we are going to tell you about the Whole Life Assurance-Suraksha policy. Know here all the details related to this special insurance plan.
Sum Assured up to 50 lakhs with bonus
The age limit for buying Whole Life Assurance-Security Policy is fixed from 19 years to 55 years. Under this scheme, the policy holder gets minimum Rs 20,000 with bonus and maximum Rs 50 lakh as sum assured after the age of 80 years. If the policy holder dies in the meantime, then his heir or nominee gets this amount.
Loan facility
After running the policy continuously for 4 years, the policy holder is also given the facility to take a loan against it. If you are not able to run the policy for a long time, then you can also surrender it after 3 years. But if you surrender it before 5 years, then you will not get the benefit of bonus on it. On surrender after 5 years, proportionate bonus is paid on the Sum Assured.
Know these benefits too
In this scheme, the policy holder also gets the facility of getting tax exemption. You can get exemption under section 80C of the Income Tax Act for the premium paid in Postal Life Insurance. In this plan, you are given the option of monthly, quarterly, half-yearly and yearly for the payment of premium.
You can choose the option as per your convenience. Not only this, if you wish, you can also convert this policy into Endowment Assurance Policy till the age of 59 years, provided the date of conversion is the date of completion of premium payment or the date of maturity. Should not happen within a year. Apart from this, you can get the policy transferred to any part of the country.
Who can take advantage
Earlier, only government and semi-government employees could take advantage of this policy, but after the year 2017, doctors, engineers, lawyers, management consultants, chartered accountants, architects, bankers and employees etc. can take advantage of all insurance policies run under PLI. Has also been made available for If you want to take advantage of this scheme, then you can buy it online. For more details click on the link https://www.indiapost.gov.in/Financial/Pages/Content/pli.aspx .
