The maturity amount of PLI is the total amount that the policyholder will receive upon the policy's maturity. The maturity amount is determined by the policy's face value, premium payments, and any riders that may be attached to the policy. The maturity amount is typically paid out in a lump sum, but some policies may offer other options for receiving the maturity amount.
The maturity value of a PLI policy depends on the sum assured, policy term, and the interest rate. However, the insurance company also deducts administrative charges and service tax from the maturity value. The maturity value is generally higher than the sum assured, but it guaranteed.
The maturity amount of PLI (Public Provident Fund) is the total contribution made by the subscriber, plus interest, minus any withdrawals made. The interest rate on PLI is 7.6% per annum.
The maturity amount of PLI varies depending on a number of factors, including the size of the policy, the age of the policyholder, and the date of maturity. However, the average maturity amount is typically between $5,000 and $10,000.
The maturity amount of PLI is the total face value of the insurance policy at the end of the policy term. This includes the sum of all premiums paid, plus any interest that has accumulated.
PLI (Postal Life Insurance) maturity amount depends on the type of policy opted for and the amount of premium paid. Here is a quick overview of the maturity amount calculation for different types of policies:
Endowment policies: Under endowment policies, the maturity amount is calculated as the sum of (i) Accumulation Fund (ii) Final Addition Bonus, if any. Accumulation Fund is the simple accumulation of all premiums and Final Addition Bonus is an additional amount given at the time of maturity to encourage long-term policyholders.
Whole Life policies: The maturity amount under Whole Life policies is calculated as the sum of (i) Accumulation Fund (ii) Death Benefit (iii) Final Addition Bonus, if any. Accumulation Fund is the simple accumulation of all premiums, Death Benefit is payable upon the death of the policyholder, and Final Addition Bonus is an additional amount given at the time of maturity to encourage long-term policyholders.
Money Back policies: The maturity amount under Money Back policies is calculated as the sum of (i) Accumulation Fund (ii) Death Benefit (iii) Survival Benefit. Accumulation Fund is the simple accumulation of all premiums, Death Benefit is payable upon the death of the policyholder, and Survival Benefit is an additional benefit payable in instalments during the policy tenure.
In addition to these, PLI also offers group insurance policies and flexible premium payment policies. For more information on PLI policies and the calculation of maturity amounts, you can visit the official website of India Post at https://www.indiapost.gov.in/FinancialProducts/PostalLifeInsurance.aspx.
