Postal Life Insurance (PLI) Complete Guide
Learn everything about Postal Life Insurance (PLI) – plans, benefits, eligibility, premium payment, maturity, claim process and how to apply online/offline.
What is Postal Life Insurance?
Postal Life Insurance (PLI) is a Government of India life insurance scheme operated by the Department of Posts. It offers high coverage at very low premium rates, mainly for:
- Central & State Government Employees
- Teachers and Educational Institution Staff
- PSU Employees
- Defense & Military Personnel
- Employees of Government-aided institutions
- Employees of autonomous bodies
For the general public, see: RPLI Guide.
Who is Eligible for PLI?
- Government employees (Central/State)
- Defense personnel (Army, Navy, Air Force)
- Employees of PSUs
- Teachers in government-recognized institutions
- Employees of autonomous bodies
- Local body employees (Municipalities, Corporations)
Benefits of Postal Life Insurance (PLI)
- Low premium compared to private insurers
- High sum assured up to ₹50 lakhs
- Government-backed security
- Loan facility available
- Bonus rates are among the highest in India
- Online premium payment and policy management
Types of PLI Plans
1. Whole Life Assurance (Suraksha)
Life-long coverage + bonus. Amount paid at age 80 or to nominee after death.
2. Endowment Assurance (Santosh)
Sum assured + bonus paid at maturity (35–60 years) or to nominee.
3. Convertible Whole Life Assurance
Start as whole life → Convert to endowment after 5 years.
4. Anticipated Endowment (Money Back)
Money-back payouts at intervals + final maturity bonus.
5. Children Policy
Coverage for children aged 5–20. No medical required.
6. Joint Life Assurance
Coverage for both spouses under a single policy.
PLI Bonus Rates (Latest)
PLI offers some of the highest bonus rates in India.
- Endowment Policy: ₹58 per ₹1000 sum assured yearly
- Whole Life Policy: ₹85 per ₹1000 sum assured yearly
- Anticipated Policy: ₹52 per ₹1000 sum assured yearly
- Children Policy: ₹52 per ₹1000
Bonus is declared yearly by the Government of India.
PLI Premium Payment Methods
- Online payment via PLI portal
- Post office counter payment
- Direct debit from salary (Govt employees)
- Standing instruction from savings account
Loan Facility on PLI
Loan is available after:
- 3 years for Endowment
- 4 years for Whole Life
Loan amount depends on surrender value.
Maturity & Claim Process
- Submit claim form at post office
- Provide ID, policy document & bank details
- Maturity amount is transferred directly to bank
- Death claim processed for nominee
How to Apply for PLI?
Option 1 — Apply Offline
Visit nearest Head Post Office / Sub Post Office.
Option 2 — Apply Online
Register on the official PLI portal, upload documents and complete verification.