Postal Life Insurance (PLI) Calculator

The Whole Life Assurance Policy under Postal Life Insurance (PLI) — also known as the Suraksha Policy — is a life insurance plan that provides insurance coverage for the entire lifetime of the insured person with guaranteed maturity benefits.

Under this plan, the sum assured and accrued bonuses are paid out as a death benefit if the policyholder passes away before reaching the maturity age of 80 years. If the policyholder survives until the fixed maturity age of 80 years, the policy matures and the same benefits are paid as maturity value.

Unlike other life insurance plans, PLI’s Whole Life Assurance ensures lifelong coverage while allowing policyholders to stop paying premiums after a selected age — typically 55, 58, or 60 years — while continuing to accrue bonuses until maturity.

The contract is entered into between an eligible individual and the Department of Posts (India Post) under the Government of India.

The PLI Suraksha policy (Whole Life Assurance) serves multiple financial objectives for the policyholder. These include:

• Provide lifelong financial protection to the insured person’s family through a guaranteed death benefit.
• Enable long-term savings with accumulated bonus returns.
• Offer a long-term protection tool with no need for the policyholder to pay premiums for his/her whole life.

The Whole Life Assurance policy (Suraksha) under Postal Life Insurance offers lifelong coverage and guaranteed returns, making it long-term and secure financial planning and life insurance option. Below are its key features:

• Lifelong cover with death benefit: If the policyholder passes away before the maturity age (80 years), the full sum assured along with accrued bonuses is paid as the death benefit to the nominee, assignee, or legal heir.
• Maturity Benefit at Age 80: If the policyholder survives until the age of 80, the same benefits are paid as a maturity value — sum assured plus total accrued bonus.
• Premium Ceasing Options: The policyholder can choose to stop paying premiums at a fixed age — 55, 58, or 60 — while the policy continues to accrue bonuses until maturity.
• Entry Age Limits: Anyone aged between 19 and 55 years can apply.
• Maturity Age: Maturity age of the policyholder is fixed as 80 years of the insured person.
• 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).
• Annual Bonus: The policy accrues bonus annually at a rate of ₹76 per ₹1,000 of sum assured, as declared by India Post under POLI rules.
• Terminal Bonus: A one-time terminal bonus of ₹20 per ₹10,000/- sum assured is added (up to ₹1,000), if the policy term is 20 years or more.
• Premium Rebates: ₹1/- rebate per month is applied for every ₹20,000/- sum assured. Additional rebates of 1% and 2% apply for advance payments of 6 months and 12 months respectively.
• Premium Frequency: Premiums are payable on a monthly basis only.
• 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 surrender value.
• Loan Facility: After completion of 3 policy years, the policyholder becomes eligible for a loan of up to 90% of the surrender value, at 10% interest per annum, which should be paid every six months.
• Policy Conversion: The Whole Life Assurance policy can be converted into an Endowment Assurance policy any time before the policyholder turns 59, provided at least one year remains before the chosen premium ceasing age.
• Medical Requirements: Medical examination is mandatory for the policy with sum assured above ₹5 lakhs or proposer with the age above 40 years.

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

• 1. Select Policy Option – Choose Whole Life Assurance (Suraksha) 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 premium ceasing age - Choose the age at which you want the policy premiums to stop. This defines your premium paying age in the full policy term.
• 4. 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 Suraksha 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:

• Entry Age – Your age on next birthday.
• Premium ceasing age – Your age when policy premium payments stop.
• Maturity Age – Your age when policy matures and payout is released.
• Policy Term to pay premiums – 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 (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 – Premium amount of each instalment after applying rebates.

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

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

• Regular Bonus: ₹76 per ₹1,000/- sum assured per year.
• 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 Paid.

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 projection for future use or sharing.

You can modify premium ceasing age and/or sum assured to test how these changes impact premiums, rebates, bonus amount, policy term, maturity value and total returns. This helps you make a certain decision based on policy results to choose the best policy configuration for affordability and long-term benefit.

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

If Ravi, aged 25, purchases a Suraksha policy with a sum assured of ₹10,00,000/- and opts to stop paying premiums at the age of 55, here's how his policy will perform:

• Monthly Premium (excluding GST): ₹1,800/- approx.
• Total Premium Payment (over 30 years of term) — with rebates & GST: ₹6,44,000/- approx.
• Total Maturity Value (at age 80): ₹51,81,000/- approx. (includes sum assured + accrued bonuses)
• Net Financial Gain: ₹45,36,000/- approx.
• Return on Investment (ROI): 703%

This example illustrates how the Suraksha 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 Postal Life Insurance (PLI) scheme is managed by India Post, a trusted Government-backed institution and the oldest life insurer in India.

The Whole Life Assurance (Suraksha) Policy offers lifelong coverage up to the age of 80 years, along with guaranteed maturity benefits. This makes it ideal not only for protecting your family during your lifetime but also for building a secure financial reserve for your old age.

The key benefits of Suraksha policy:

• Lifelong Coverage: The policy provides insurance protection until the policyholder reaches 80 years of age.
• Maturity Benefit After 80: If the policyholder survives the full term, they receive a lump sum maturity amount including the sum assured and accrued bonuses.
• Flexible Premium Ceasing Options: Premium payments can be stopped at a pre-selected age — 55, 58, or 60 years — while the policy remains active until maturity.
• Bonus Accumulation Throughout the Term: Bonuses are added annually by India Post for the full duration of the policy — including the years after premium payment stops, until the policy matures at age of 80 years.
• Tax Benefits: Premium payments qualify for deductions under Section 80C, and the maturity proceeds are exempt under Section 10(10D) of the Income Tax Act.

These benefits make the PLI Whole Life Assurance (Suraksha) policy a perfect choice for individuals seeking long-term, low-risk insurance with the added advantage of post-retirement financial support.

The following individuals are eligible to purchase the Suraksha 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 Suraksha 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 Whole Life Assurance (Suraksha) 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 Whole Life Assurance (Suraksha) calculator uses official POLI rules to compute key policy outcomes based on your input values: date of birth, premium ceasing age and sum assured.

Here’s the breakdown of the core calculation logic:

• Full Policy Term (in years) = Maturity age (80) – Entry age

(Policy Term is the total number of years between entry age and the maturity age (80).)

• Policy premium paying term (in years) = Premium ceasing age – Entry age

(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 Suraksha policy × Sum Assured

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

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

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

• Total GST = GST per Premium × Total Installments

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

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

(The total amount you’ll pay till attaining premium ceasing age, with deducted rebates and added GST.)

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

(Bonus rate = ₹76 per ₹1,000 sum assured per year)

(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 (80) from 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 Suraksha 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 lega 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 80 years of age, if the policy is not surrendered.)

• Net Gain = Maturity Value – Total Premium Paid

(Net gain Indicates the return on your investment in Suraksha policy.)