Question: How Good Is Postal Life?

What are the benefits of postal life insurance?

Benefits of Postal Life InsurancePLI is the only insurer which gives highest return (bonus) and charges lowest premium for any product in Indian Life Insurance market.You can avail loan facility for immediate liquidity requirements on PLI policies.More items….

How can I check my PLI maturity amount?

You can check your Postal Life Insurance Policy status online by logging on to the official website of Indian Post, i.e. www.indiapost.gov[dot]in. You need to click on ‘customer care’ on the top. On clicking on the tab, you will see a drop-down list and you need to pick complain registration option.

Who qualifies for postal life insurance?

Anyone working in government departments and ministries, local bodies, defence services, para military forces, educational institutions, nationalised and commercial banks, and specified organisations, can apply for the policy. Postal Life Insurance policyholders must be over 19 years of age but less than 55 years old.

Which policy is best in post office?

InstrumentInterest rate (%) from 01.07.2020Max amt (Rs)Time Deposit#5.50-6.70No limitPost Office Monthly Income Scheme6.60Single: 4.50 lakhPost Office Monthly Income Scheme6.60Joint: 9 lakhKisan Vikas Patra6.90No limit6 more rows•5 days ago

Is postal life insurance better than LIC?

Premium Rate-When compares to LIC or any private insurers, PLI offers cheap premium. So this is the most advantage of buying endowment plans with PLI than with LIC. Bonus Rate-Bonus offered by PLI is in the range of 7% or more. Whereas currently, LIC offers a bonus rate of around 4% to 5%.

Is PLI a good option?

Postal Life Insurance (PLI), a 125-year-old life insurance scheme run by the department of posts, is a good option for people eligible for it as it charges lower premiums and offers higher returns than comparable policies of life insurers.