Postal Life Insurance (PLI) Calculator

The Convertible Whole Life Assurance policy under Postal Life Insurance (PLI) — also known as the Suvidha policy — is a unique life insurance plan that offers policyholders the flexibility to convert their Whole Life Assurance policy into an Endowment Assurance policy.

This conversion option can be exercised after completing 5 years of the policy term but not later than 6 years. If the policyholder opts to convert, the policy for rest of the term functions as Endowment Assurance policy, with maturity benefits available at the chosen maturity age of 50, 55 or 58 years. If the policy is not converted, it continues as Whole Life Assurance policy with premium ceasing age of 60 years and maturity age of 80 years.

In both cases, the policy provides death benefit and maturity benefit — but with different durations, premiums and bonuses:

• With Conversion: The policy functions as Endowment Assurance and offers life cover with death benefits up to a selected maturity age (50, 55 or 58 years). Upon attaining maturity age, the policyholder receives the sum assured plus accrued bonuses as maturity benefit.
• Without Conversion: The Policy continues to functions as Whole Life Assurance and offers life cover with death benefits up to maturity age of 80 years. Upon attaining maturity age, the policyholder receives the sum assured plus accrued bonuses as maturity benefit. With this option premiums are paid only until 60 years of age, while bonus continues to accrue until maturity.

The Suvidha policy is issued by the Department of Posts (India Post) to eligible individuals under its government-backed Postal Life Insurance scheme.

The key objective of the Convertible Whole Life Assurance (Suvidha) policy is to offer flexibility — allowing policyholders to choose between lifelong coverage and early maturity, depending on their financial goals. In both options, it enables long-term savings with guaranteed returns, along with annual bonuses declared by India Post.

The Convertible Whole Life Assurance policy (Suvidha) under Postal Life Insurance comes with option to convert Whole Life Assurance to Endowment Assurance policy after completing 5 years but before completing 6 years of the policy term.

If the policy is not converted then it will be treated as Whole Life Assurance (with conditions).

Below are the key features of Suvidha policy:

• Policy with opting conversion: Upon opting for policy conversion, the policy is treated as Whole Life Assurance for the initial 5 years and then Endowment Assurance for the remaining term.
• Maturity age: With this option you can choose policy maturity age of 50, 55, or 58 years.
• Death benefit: As death benefit the assignee, nominee or legal heir receives the sum assured plus accrued bonus, if the policyholder dies before attaining the maturity age.
• Maturity benefit: As maturity benefit the policyholder receives the sum assured plus accrued bonus by attaining the policy maturity age.
• Bonus: Bonus of ₹76 per ₹1,000 sum assured per year accumulates for the initial 5 years of term treating policy as Whole Life Assurance and bonus of ₹52 per ₹1,000 sum assured per year accumulates for the remaining term treating policy as Endowment Assurance.

• Policy without opting conversion: The policy continues as a Whole Life Assurance for the full term.
• Premium Ceasing Age: Premiums are paid until the policyholder reaches 60 years of age.
• Maturity Age: Maturity age of the policyholder is fixed as 80 years.
• Death benefit: As death benefit the assignee, nominee or legal heir receives the sum assured plus accrued bonus, if the policyholder dies before attaining the maturity age of 80 years.
• Maturity benefit: As maturity benefit the policyholder receives the sum assured plus accrued bonus by attaining the policy maturity age of 80 years.
• Bonus: Bonus of ₹76 per ₹1,000 sum assured per year accumulates for the entire term till maturity age of 80 years.

• Entry Age: 19 to 50 years.
• Sum Assured Limits: ₹20,000/- to ₹50,00,000/-, in multiples of ₹10,000/- (e.g. ₹50,000/-, ₹1,20,000/-, etc).
• Terminal Bonus: One-time terminal bonus of ₹20 per ₹10,000/- sum assured (up to ₹1,000), for policy term of 20 years or more.
• Premium Frequency: Monthly basis as only option for premium installment.
• Premium Rebates: Rebate of ₹1/- per month for every ₹20,000/- sum assured. Additional rebates of 1% and 2% for advance premium payment for 6 months and 12 months respectively.
• Policy surrender conditions: Policy can be surrendered after 3 years. No bonus accumulates if surrendered before 5 years. If surrendered after 5 years, proportionate bonus is added to the reduced sum assured in surrender value.
• Medical Requirements: Medical examination is mandatory for sum assured above ₹5 lakhs or proposer with the age above 40 years.
• Loan Facility: Loan up to 90% of the surrender value can be availed after completion of 3 years with interest rate of 10% payable every six months.

You can use the PLI Calculator for the Convertible Whole Life Assurance policy in just a few easy steps:

• 1. Select Policy Option – Choose Convertible Whole Life Assurance (Suvidha) from the available policy types.
• 2. Enter Your Date of Birth - Provide your date of birth in DD/MM/YYYY format. This will be used to calculate your entry age.
• 3. Choose whether to convert the policy - Select 'Yes' to convert Whole Life Assurance policy to Endoment Assurance policy at the completion of 5 years.
• 4(1). Choose maturity age - If converting policy then choose an age from 50, 55 or 58 years for maturity of policy.
• 4(2). Premium ceasing age - If not converting the policy then the policy premiums will stop at a fixed age of 60 years. This defines your premium paying age in the full policy term.
• 5. Enter Sum Assured (₹) - Specify the guaranteed amount of insurance for the death benefit and maturity benefit. This is the base insurance amount, excluding bonuses.
• 5. Premium Frequency - Premium frequency for Suvidha policy is fixed as Monthly cycle.
• 6. Click “Calculate” - Once you’ve filled in all inputs, click the “Calculate” button to generate the results.

In calculation results, you’ll see a complete breakdown of your policy details based on your selection to convert the policy:

(The result breakdown below includes terms from both policy scenarios — with and without conversion — to help you understand what each value is means. However, when you use the calculator, you'll only see results specific to the option you selected (converted or non-converted).

• Entry Age – Your age on next birthday.
• Maturity Age – Your age when policy matures and payout is released.
• Premium ceasing age (if policy is not converted) – Your age when policy premium payments is stopped.
• Policy Term to pay premiums (If policy is not converted) – Length of time between entry age and Premium ceasing age.
• Policy Term (till maturity) – Length of time between entry age and maturity age, for which life insurance policy remains active and provides insurance coverage to the policyholder.
• Sum Assured – Minimum guaranteed amount of insurance payout excluding bonuses.
• Maturity Date – The date on which life insurance policy will mature and maturity benefit payout is released.

• Total number of premium installments.
• Payment frequency.
• Base premium amount for first 5 years - Whole Life Assurance (before rebate and GST).
• Base premium amount from 6th year after conversion to Endowment Assurance (before rebate and GST).
• Base premium amount for premium paying term (if policy is not converted) (before rebate and GST).

• Rebate per installment – The monthly discounted amount based on sum assured applied on each premium payment.
• Total rebate amount – Total amount of rebate applied on total premium payment.
• Premium after rebate (before conversion) - Premium amount per installment after rebate till 5 years of term.
• Premium after rebate (after conversion) - Premium amount per installment after rebate after after 5 years of term.
• Premium after rebate (if policy is not converted) – Premium amount of each instalment after applying rebates, for premium paying term.

• GST per premium installment for First Year @ 4.5% (CGST @ 2.25% + SGST @ 2.25%)
• GST per premium installment from 2nd year onward @ 2.25% (CGST @ 1.125% + SGST @ 1.125%)
• Total GST payable over policy term

• Premium per installment (for year 1) for the term of Whole Life Assurance
• Premium per installment (from year 2 to year 5) for the term of Whole Life Assurance
• Premium per installment (after year 5) for the term of Endowment Assurance
• Premium per installment for premium paying term (if policy is not converted)
• Total premium payable over full term

• Regular Bonus: ₹76 per ₹1,000/- sum assured per year for the term of Whole Life Assurance.
• Regular Bonus: ₹52 per ₹1,000/- sum assured per year for the term of Endowment Assurance.
• Terminal Bonus: ₹20 per ₹10,000/- sum assured (max ₹1,000).
• Total bonus accrued over the policy term

• Total Maturity amount as sum assured + total accrued bonus.

• Returns on Investment as Net gain. It is the difference between receivable maturity value and total premium payment.

There are two charts for better visualization of policy report:

• Sum Assured + Bonus Chart - It shows the base sum assured and the bonus portion that contributes to the maturity value.
• Total Premium vs. Net Gain Chart - It compares total premiums paid vs. maturity amount received, highlighting the net financial gain.

• Click "Copy Summary" to copy the key results.
• Click "Download PDF" to save the full policy results for future reference or for sharing purpose.

You can test different policy configurations using the calculator to better understand their impact:

• Toggle the conversion option to compare policy term, premiums, maturity value, bonuses and returns between two scenarios — converting to Endowment Assurance after 5 years, or continuing as a Whole Life Assurance policy.
• Change the maturity age and/or sum assured to see how these inputs further affects the policy term, premiums, maturity value, bonuses and returns .

This scenario testing allows you to find the most suitable policy option and configuration by balancing your budget with long-term financial benefits. It offers clear insights into expected policy performance — whether you choose to convert or continue with the Whole Life Assurance plan.

If Ravi starts investing in Convertible Whole Life Assurance at the age of 25 years by purchasing the policy of Rs. 10 lakhs with opting to convert the policy to Endowment then his monthly premium payment will be Rs. 1800/- (ex. GST) for the first 5 years of Whole Life Assurance and thereafter Rs. 2,400/- for the rest of 28 years of Endowment Assurance policy, with maturity age of 58 years then he will receive the maturity benefit of Rs. 28,37,000/- at the age of 58 years with returns of ₹19,22,000/- at ROI of 210%.

If Ravi starts investing in Convertible Whole Life Assurance at the age of 25 years by purchasing the policy of Rs. 10 lakhs without converting the policy then his monthly premium payment will be Rs. 1800/- (ex. GST), with premium ceasing age of 60 years, he will receive the maturity benefit of Rs. 51,81,000/- at the maturity age of 80 years with returns of ₹44,28,000/- at ROI of 589%.

Below is the table with figures illustrating the both scenario.

This example illustrates how the Suvidha policy provides both lifelong protection and substantial long-term financial returns — making it an ideal option for those seeking a combination of insurance coverage and retirement-ready savings.

The PLI Convertible Whole Life Assurance (Suvidha) policy offers a unique blend of flexibility and long-term financial security. It allows the policyholder to make a one-time choice — after completing 5 years of policy term — to either:

• ✔️ Continue as Whole Life Assurance for lifelong coverage up to age 80 with maturity benefits, or
• ✔️ Convert to Endowment Assurance for shorter-term coverage with earlier maturity age (50, 55, or 58 years).

This flexibility makes the Suvidha policy ideal for those who want to start with lifelong coverage but retain the option for early maturity as per their evolving financial goals.

• Bonus Accumulation: Annual bonuses declared by India Post increase the policy value and maturity benefits, whether or not the policy is converted.
• Tax Benefits: Premium payments are eligible for tax exemption under Section 80C, and maturity benefits are eligible for tax exemption under Section 10(10D) of the Income Tax Act.
• Government-Backed Assurance: Offered by Department of Post (GOI), the PLI Suvidha policy is an insurance-cum-investment policy and a secure financial product that provides long-term insurance coverage with predictable returns.

By offering dual-path planning — whole life cover or early maturity — the Convertible Whole Life Assurance policy serves both protection and investment goals.

The following individuals are eligible to purchase the Suvidha policy:

• Employees of the Central Government and State Governments
• Employees of Public Sector Undertakings (PSUs)
• Staff in Railways, Telecom, Defence, and Para-Military Forces
• Personnel in local bodies and autonomous government institutions
• Employees of Nationalized Banks, State Bank of India and its subsidiaries
• Staff in government-notified financial institutions
• Employees of government-aided or recognized private educational institutions
• Teaching and non-teaching staff of schools/colleges affiliated to CBSE, ICSE, State Boards, Open Schools or Accredited institutions (NAAC, AICTE, MCI, etc.)
• Staff of autonomous bodies, research councils, and recognized universities
• Professionals such as Doctors, Engineers, Chartered Accountants, Company Secretaries, MBAs, Lawyers, Management Consultants, Bankers, Architects, etc
• Employees of companies listed on the NSE or BSE
• Contract-based employees (where contract is renewable)
• Members and employees of government-registered cooperatives
• Members and employees of registered cooperative societies funded partly or fully by Central/State Governments, RBI, NABARD, Nationalized Banks
• Employees of recognized research institutions, deemed universities, and autonomous bodies

Apart from this regarding educational qualification, there is no minimum educational qualification required to purchase the PLI Suvidha policy. Eligibility is primarily based on your employment type.

During the online or offline application process, you will be asked to select your occupation and educational qualification based on standard categories used by India Post.

• Central Government
• State Government
• PSU
• Bank
• Defence
• Para-Military Force
• Railway
• Telecom
• Professionals
• BSE/NSE Listed Companies
• Other

• Illiterate
• Primary Education
• Middle Class
• High School
• Senior Secondary Education
• Diploma Graduate
• Post Graduate
• Other

The following documents are required to issue a PLI Convertible Whole Life Assurance (Suvidha) policy. These help establish the applicant’s identity, eligibility, health status, and official verification.

1. Proof of Age – Any valid government-issued document showing date of birth (e.g., Aadhaar card, birth certificate, school leaving certificate)
2. Proof of Address – Valid address proof such as Aadhaar card, voter ID, utility bill, or passport
3. Identity Proof – PAN card, Aadhaar card, voter ID, driving license, or any government-recognized photo ID
4. Declaration of Medical Examiner – Medical report or fitness certificate issued by a government-authorized medical examiner (especially required for high sum assured or older age groups)
5. Certificate by Immediate Supervisor – For salaried individuals in eligible organizations, this certificate confirms employment details and designation
6. Certificate by DO/FO (PLI) or Authorized Agent – Signed verification by Departmental Officer (DO), Field Officer (FO), or registered PLI agent
7. Declaration by Proponent – A self-declaration by the applicant regarding their health, lifestyle habits, and policy understanding

The PLI Convertible Whole Life Assurance (Suvidha) calculator uses official POLI rules to compute key policy outcomes based on your input values: date of birth, whether to convert the policy, maturityage/premium ceasing age and sum assured.

Here’s the breakdown of the core calculation logic:

• Full Policy Term (in years) = Maturity age – Entry age

(Policy Term is the total number of years between entry age and the maturity age. This is the premium paying term also if converting the policy to Endowment Assurance.)

• Policy premium paying term (in years) = Premium ceasing age – Entry age (If continuing Whole Life Assurance policy)

(Policy premium paying term is the total number of years between your current (entry) age and the chosen premium ceasing age.)

• Total Installments = Premium paying term × 12 (Installments per Year)
• Base Premium (per installment) = Premium Rate for Suvidha policy × Sum Assured

(Calculated using premium rate slabs defined in POLI rules for Suvidha policy, based on entry age and maturity age/premium ceasing age.)

• Rebate per premium = (Sum Assured ÷ 20,000)
• Total Rebate = (Sum Assured ÷ 20,000) × Premium paying term × 12 (months)

(Rebate of ₹1 per month is given for every ₹20,000/- of sum assured across the policy duration. All rates of rebate are applied automatically in the calculator as per official Postal Life Insurance (POLI) rules for Suvidha policy.)

• GST on each premium payment = Premium after rebate × GST Rate

(First Year GST Rate = 4.5% & from second year onward renewal GST Rate = 2.25% on each premium payment.)

• Total GST = GST per Premium × Total Installments

(The GST for first year and rest of term are calculated separately. Total GST amount includes sum of GST on premiums for the first year and for the rest of the term. All GST rates are applied automatically in the calculator for the selected policy conversion option as per official Postal Life Insurance (POLI) rules.)

• Total Premium = (Base Premium × Total Installments) – Total Rebate + Total GST

(The total amount of premiums you’ll pay till attaining maturity age if converting the policy to Endowment Assurance or till premium ceasing age if continuing Whole Life Assurance policy, with deducted rebates and added GST.)

• Bonus = (Sum Assured × Bonus Rate × Policy Term) / 1000

(Bonus calculation automatically adjusts based on preferred conversion option. In bonus calculation, if policyholder passes away then policy term will be calculated up to the date of death from entry age. If policyholder survives for full term then the policy term will be taken up to maturity age from the entry age.)

• Terminal Bonus (one time payment) = (Sum Assured × Terminal Bonus Rate) / 10000; maximum ₹1,000/-

(Terminal bonus rate = ₹20 per ₹10,000 sum assured, only for the policy term over 20 years)

(All bonus rates are applied automatically in the Suvidha calculator as per official Post Office Life Insurance (POLI) rules.)

• Total Bonus = Bonus (Annual) + Terminal Bonus (One time)

(Total bonus is the sum of bonus accrued annualy and applicable terminal bonus.)

• Death benefit = Sum Assured + Total Bonus accrued till the date of death

(Death benefit is the amount the assignee, nominee or legal heir receives if policyholder dies during the term.)

• Maturity Value = Sum Assured + Total Bonus

(This is the amount policyholder receives at the end of the term attaining maturity age, if the policy is not surrendered.)

• Net Gain = Maturity Value – Total Premium Paid

(Net gain Indicates the returns on investment in the Suvidha policy.)