Postal Life Insurance (PLI) Calculator

Joint Life Assurance — also known as the Yugal Suraksha — is an endowment based life insurance plan for married couple that offers life cover with death benefit to both spouses in single policy during the policy term. And it also provides maturity benefits if both insured lives survive for the full policy term.

This is insurance-cum-investment plan offered by Postal Life Insurance (Department of Posts, Government of India) offering both financial protection and guaranteed returns.

The primary objective of Yugal Suraksha policy is to provide financial protection to the family covering lives of both spouses in single policy.

The Joint Life Assurance policy (Yugal Suraksha) under Postal Life Insurance specifically designed for married couple covering life of both spouses in single policy.

Below are its key features:

• Life Coverage and Death Benefits: Life cover is provided to both husband and wife to the extent of sum assured and accrued bonus during the policy term. If any of spouse passes away during the term, then survivor receives death benefits as financial protection. If both spouses pass away then death benefits are paid to assignee, nominee or legal heir.
• Maturity Benefits: If both spouses survive till end of term, then main policyholder (elder) receives lump-sum amount of sum assured plus total accrued bonus as maturity benefits.
• Main policyholder: Elder spouse is considered as main policyholder.
• Entry Age Limits: Allowed age for both spouses to issue policy is minimum 21 years and maximum 45 years on next birthday.
• Policy term: Policy term from 5 years to 20 years can be chosen.
• Maturity Age Limits: Elder spouse’s age should not exceed 60 years on next birthday when policy matures at the end of term.
• Sum Assured Limits: The sum assured must be between ₹20,000/- and ₹50,00,000/-. And, it should be in multiples of ₹10,000/- (e.g. ₹50,000/-, ₹1,20,000/-, etc).
• Bonus: The policy accrues bonus at a rate of ₹52 per ₹1,000 of sum assured every year.
• Premium Rebates: Rebate of ₹1/- per month for every ₹10,000/- sum assured is applied on each premium installment. It is only for the policy with sum assured of ₹40,000/- and above. Additional rebates of 1% and 2% apply for advance premium payments of 6 months and 12 months respectively.
• Premium Frequency: Premiums are payable on a monthly basis only.
• Medical Requirements: Medical examination is mandatory for the both spouses to issue policy.
• Policy Surrender: Policy can be surrendered after 3 years. However, no bonus is applied if surrendered before 5 years. If surrendered after 5 years, a proportional bonus is added to the reduced sum assured.
• Loan Facility: Loan can be availed after completion of 3 years of term. Loan amount can be up to 90% of surrender value of policy. Interest rate for the loan is 10% per annum. Interests are payable half-yearly.

You can use the PLI Calculator for the Joint Life Assurance policy (Yugal Suraksha) in just a few easy steps:

• 1. Select Policy Option: Choose Joint Life Assurance policy (Yugal Suraksha) from the available policy types.
• 2. Enter Husband’s Date of Birth: Provide husband’s date of birth in DD/MM/YYYY format. This will be used to calculate husband’s age on next birthday.
• 3. Enter Wife’s Date of Birth: Provide wife’s date of birth in DD/MM/YYYY format. This will be used to calculate wife’s age on next birthday.
• 4. Choose policy term (in years): Choose desired term for the policy from 5 years to 20 years.
• 4. Enter Sum Assured (₹): Enter the sum assured amount, a guaranteed amount of insurance for the death benefit and maturity benefit (excluding bonus amount). This is the base insurance amount that will also be used to calculate premiums and maturity benefits.
• 5. Premium Frequency: Premiums for the Yugal Suraksha policy are payable on a monthly basis only.
• 6. Click “Calculate”: Once you’ve filled in all inputs, click the “Calculate” button to generate personalized policy report.

In calculation results, you’ll see a complete breakdown of Yugal Suraksha policy details:

• Both Spouses age: Husband’s and wife’s age on next birthday.
• Equivalent Entry Age for policy: Calculated equivalent age of spouses which taken as entry age for policy as per POLI rules.
• Policy Term (in years): Policy tenure between equivalent entry age and maturity age, for which life insurance policy provides insurance coverage.
• Maturity Age of both spouses: Both spouse’s age when policy ends and payout is released.
• Sum Assured: Minimum guaranteed amount of insurance in maturity value and death benefit, excluding bonuses.
• Maturity Date: The date on which life insurance policy matures and maturity payout is released.

• Total Premium Installments: Number of monthly payments over the policy term.
• Monthly Base Premium: The base premium before deducting rebates and adding GST.

• Rebate per installment: The monthly discounted amount based on sum assured applying on each premium payment.
• Total rebate amount: Total amount of rebate applied on total premium payment.
• Premium after rebate: Premium amount of each instalment after applying rebates.

• No GST from 22 September 2025, (Old rate, GST per premium installment for First Year @ 4.5% (CGST @ 2.25% + SGST @ 2.25%) and from Second year onward @ 2.25% (CGST @ 1.125% + SGST @ 1.125%).

• Premium per installment (For Year 1)
• Premium per installment (from Year 2 onward)
• Total premium payable over full term

• Bonus: ₹52 per ₹1,000 sum assured per year

• Total Maturity Amount – as Sum Assured + Accrued Bonus – which policyholder receives at the end of term.

• Net returns on Investment at the end of term, which is the difference between receivable maturity value and total payable premiums.

You will also see 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 amount vs. maturity value of policy, highlighting the net financial gain.

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

You can modify policy term and sum assured amount to instantly check how that impact premiums, rebates, bonus amount, maturity value and total returns. This helps you make data-driven decisions to choose the best policy configuration based on affordability and long-term benefit.

Let’s understand how the PLI Joint Life Assurance policy (Yugal Suraksha) works with a practical example:

1. If Ravi aged 26 and his wife Seema aged 25, purchases a Yugal Suraksha policy with a sum assured of ₹10 Lakh with policy term of 15 years, here's the policy will perform:

• Monthly Premium (excluding GST): ₹6,000/-
• Total Premium Payment (over 10 years) — with rebates & GST: ₹10,87,000/- approx.
• Maturity Value: ₹17,80,000/- approx.
• Net Financial Gain: ₹6,92,000/- approx.
• Return on Investment (ROI) over 15 years: 64% approx.

Yugal Suraksha, the Joint Life Assurance policy offered under Postal Life Insurance (PLI), is a unique life insurance plan for married couples which covers life of both spouses in single policy making it affordable insurance option and financial protection for the family.

The key benefits of Yugal Suraksha policy:

• Life of both spouses covered: Unlike other insurance plans covering single person in policy, Yugal Suraksha is made for married couples and covers both lives in single policy. This makes it an affordable 2 in 1 insurance option covering life of both persons for the term ranging from 5 years to 20 years.
• Financial protection for the family: Covering both spouses’ life during the term gives financial protection to the survivor and family in unforeseen circumstances.
• Maturity benefits: Insurance option comes with maturity benefits as money back returns, if both spouses survive for full term. This makes it not just a couple insurance plan but an investment option for husband and wife both with secure returns – backed by Government.
• Bonus Accumulation Throughout the Term: Bonus continues to accumulate every year during the policy term, thus increasing the insurance value year on year.
• Tax Benefits: Premium payments are eligible for tax exemption under Section 80C, and maturity benefits are exempt under Section 10(10D) of the Income Tax Act.
• Government-Backed Assurance: Postal Life Insurance is managed by the Department of Posts, Government of India, making it one of the safest life insurance products available for husband and wife both. This offers the reliability of a public-sector institution with decades of trust.

These benefits make PLI Joint Life Insurance Policy (Yugal Suraksha) an ideal choice for Indian married couples to secure their future, family’s future with a 2 in 1 life insurance coverage throughout the term with guaranteed maturity returns.

The following individuals are eligible to purchase the Joint Life Insurance Policy (Yugal Suraksha):

• 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

The following documents are required to issue a Joint Life Insurance Policy (Yugal Suraksha). These help establish the applicant’s identity, eligibility 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
8. Declaration by Spouse (if applicable) – In certain cases (like financial declarations), the spouse’s consent or declaration may be required

The PLI Yugal Suraksha (Joint Life Assurance) calculator uses official POLI rules to compute key policy outcomes based on your input values: date of birth of both spouses, policy term and sum assured.

Here’s a simplified breakdown of the core calculation logic:

• Equivalent Entry age = Younger spouse’s age + Age difference factor

(Equivalent entry age is calculated using age difference table defined in POLI rules for Joint Life Assurance (Yugal Suraksha) policy.)

• Total Premium Installments = Policy Term × 12 (Installments per Year)
• Base Premium (per installment) = Premium Rate for Joint Life Assurance policy × Sum Assured

(Calculated using premium rate slabs defined in POLI rules for Joint Life Assurance (Yugal Suraksha) policy, based on entry age and maturity age.)

• Rebate per premium = (Sum Assured ÷ 10,000)
• Total Rebate = (Sum Assured ÷ 10,000) × Policy Term × 12 (months)

(Rebate of ₹1/month for every ₹10,000 sum assured applied across the policy duration for policy with sum assured of ₹40,000/- and above. All rates of rebate are applied automatically in the calculator as per official Post Office Life Insurance (POLI) rules for Yugal Suraksha policy.)

• Premium After Rebate (per installment) = Base Premium (per installment) - Rebate per premium
• GST on each premium payment = Premium After Rebate × GST Rate

No GST on premium from 22 September 2025. (Old rate - First Year GST Rate = 4.5% (CGST @ 2.25% + SGST @ 2.25%) & Renewal GST Rate from second year onward = 2.25% (CGST @ 1.125% + SGST @ 1.125%))

• Total GST = GST per Premium × Total Installments

(The GST for the 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.)

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

(The total amount of premiums payable over the policy term, with deducted rebates and added GST.)

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

(Bonus rate = ₹52 per ₹1,000 sum assured per year)

• Maturity Value = Sum Assured + Bonus
• Net Gain = Maturity Value – Total Premium Paid

(Net gain Indicates the return on investment in the policy over full policy term.)