The easiest way to check your PLI maturity amount is by using the maturity calculator on the website of your chosen PLI provider. Simply enter your policy number and the date of maturity, and the calculator will show you the total amount payable.
If you want to calculate the amount yourself, you will need to know the interest rate and term of your policy. You can then use the following formula:
Maturity amount = principal x (1 + interest rate)term
where:
principal = the original sum of money invested
interest rate = the annual interest rate, expressed as a decimal
term = the length of the investment, in years
For example, if you invested Rs. 1,000 at an interest rate of 10% per year for 5 years, your maturity amount would be:
Maturity amount = 1,000 x (1 + 0.1)5
= 1,000 x 1.61051
= Rs. 1,610.51