Endowment Assurance (Santosh) Calculator
Calculation Results for PLI Endowment Assurance (Santosh) Plan
| Parameter | Value |
|---|---|
| Insurant's Age on Next Birthday | -- |
| Age on Maturity | -- |
| Sum Assured | -- |
| Policy Tenure | -- |
| Bonus Rate at Present | ₹ 52/- per ₹ 1000 sum assured per year |
| Payment Frequency | Premium without GST |
|---|---|
| Monthly | -- |
| Quarterly | -- |
| Half-Yearly | -- |
| Yearly | -- |
| Payment Frequency | Premium with GST |
|---|---|
| Monthly | -- |
| Quarterly | -- |
| Half-Yearly | -- |
| Yearly | -- |
| Payment Frequency | Renewal Premium |
|---|---|
| Monthly | -- |
| Quarterly | -- |
| Half-Yearly | -- |
| Yearly | -- |
| Policy Maturity Date | -- |
| Sum Assured | -- |
| Bonus | -- |
| Maturity Value | -- |
| Payment Frequency | Total Installments |
|---|---|
| Monthly | -- |
| Quarterly | -- |
| Half-Yearly | -- |
| Yearly | -- |
| Payment Frequency | Amount Without GST | Amount With GST |
|---|---|---|
| Monthly | -- | -- |
| Quarterly | -- | -- |
| Half-Yearly | -- | -- |
| Yearly | -- | -- |
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Disclaimer: The calculations provided by this PLI calculator are based on the information you enter and are for general guidance only. Premium amounts may vary depending on changing conditions, values, and other factors specific to your situation. We do not guarantee the accuracy of the results, and you should consult with your insurance provider for precise premium rates and policy details before making any financial decisions.
Introduction to PLI Endowment Assurance (Santosh) Plan
This policy (PLI Endowment Assurance – Santosh) provides life insurance coverage that ensures the policyholder receives the assured sum along with accumulated bonuses upon reaching the predetermined maturity age. The available maturity ages are 35, 40, 45, 50, 55, 58, and 60 years.
Benefits of PLI Endowment Assurance (Santosh) Plan
The PLI Endowment Assurance (Santosh) Plan offers both insurance coverage and a savings component. Here are some key benefits of this plan:
Risk Cover with Lump Sum Benefit: If the policyholder passes away before the maturity date, the nominee will receive the sum assured along with any bonuses (if applicable).
Maturity Benefit: If the policyholder survives the term of the policy, they will receive the sum assured plus any bonuses declared during the policy term.
Bonus Facility: The Santosh Plan is eligible for Simple Reversionary Bonuses and Terminal Bonuses, which are declared annually and added to the policy, increasing the overall benefit.
Loan Facility: After 3 years, you can take a loan against the policy by pledging it as collateral, providing financial support if needed.
Tax Benefits: You can also enjoy tax deductions under Section 80C of the Income Tax Act for the premiums paid towards this plan.
Key Features of PLI Endowment Assurance (Santosh) Plan
In the unfortunate event of the policyholder’s death, the entire sum assured, along with any accrued bonuses, will be paid to the nominee, assignee, or legal heir.
Here are the key details of this scheme:
- Age Eligibility: Applicants must be between 19 and 55 years old.
- Sum Assured: The minimum sum assured is ₹20,000, and the maximum is ₹50 lakh.
- Loan Facility: A loan can be availed against the policy after it has been active for three years.
- Surrender Terms: The policyholder can surrender the policy after three years, but if surrendered before five years, no bonus will be paid. If the policy is surrendered after five years, a proportionate bonus based on the reduced sum assured will be provided.
- Bonus Rate: The last declared bonus was ₹52 per ₹1,000 sum assured per year.
This plan combines flexibility and security, ensuring that even if the policy is terminated early, the policyholder still receives a benefit, though reduced. However, to maximize the policy’s potential, holding it for at least five years or until maturity is ideal.
Check the official website of PLI (Postal Life Insurance): link
Eligibility Criteria
The eligibility for the Endowment Assurance (Santosh) Plan depends on a few key factors:
- Age at Entry: Applicants should be between 19 and 55 years old.
- Minimum Sum Assured: The coverage amount can range from ₹20,000 to ₹50,00,000.
- Age at Maturity: The policy matures at ages 35, 40, 45, 50, 55, 58, or 60.
- Maximum Loan Facility: Up to 90% of the policy’s Surrender Value can be taken as a loan.
- Eligible Employee Groups: The following groups qualify for this plan:
- Central Government employees
- Professionals like doctors, engineers, management consultants, architects, lawyers, and chartered accountants
- Para-military and defense personnel
- Public Sector Undertakings (PSUs) employees
- Employees in financial institutions, nationalized and commercial banks
- Central and State Government employees
- Local government staff, such as those in municipal corporations
- Members of autonomous bodies and government agencies
- Department of Posts employees
- Staff of NAAC, AICTE, and Medical Council of India-recognized universities
- Employees of government-aided educational institutions
- Reserve Bank of India (RBI) staff
- Members of credit cooperative societies
Premium Payment Options
How to use the PLI Endowment Assurance (Santosh) Premium Calculator?
Our PLI Endowment Assurance (Santosh) Calculator is designed for all users who want to calculate their premium and maturity benefits for the PLI Santosh Plan.
First, visit our website then
1) Select Your Policy Type: Start by selecting the PLI Endowment Assurance (Santosh) policy type out of:
- PLI Endowment Assurance (Santosh)
- PLI Whole Life Assurance (Suraksha)
- PLI Convertible Whole Life Assurance (Suvidha)
2) Enter Key Details: Next, input important information such as your age, the sum assured, the policy term, and the age at maturity.
3) Calculate Premium Based on Rates: Click the “Calculate” button to view your results. You’ll get a breakdown that includes:
- Age at Maturity
- Policy Tenure
- Bonus Rate
- Premium (excluding GST)
- Payment Frequency (monthly, quarterly, half-yearly, or yearly)
- Detailed Maturity Value