Postal Life Insurance – 6 Types of Policies Offered By PLI – Comprehensive Guide
The Postal Life Insurance
The Postal Life Insurance (PLI) plays a pivotal role in providing individuals with a secure and reliable avenue for financial planning. Offering a spectrum of policies tailored to various needs, PLI ensures that policyholders can safeguard their futures while enjoying a range of benefits. In this essay, we will delve into six distinctive policies provided by PLI, each designed to cater to different age groups, financial goals, and family dynamics.
1) “Suraksha”:
Targeting individuals aged 19 to 55, the Suraksha policy from PLI provides a flexible coverage range with a minimum sum assured of ₹20,000 and a maximum of ₹50 lakh. This policy offers a unique loan facility after four years and allows surrender after three years. Policyholders also benefit from a last declared bonus of ₹76 per ₹1000 sum assured per year, adding an extra layer of financial advantage.
2) “Suvidha”:
Much like Suraksha, the Suvidha policy caters to individuals aged 19 to 55, offering a versatile sum assured range from ₹20,000 to ₹50 lakh. With similar features such as a loan facility after four years and surrender options after three years, Suvidha provides a consistent last declared bonus of ₹76 per ₹1000 sum assured per year, ensuring policyholders receive ongoing benefits.
3) “Santosh”:
Targeting individuals in the 19-55 age bracket, the Santosh policy is characterized by a minimum sum assured of ₹20,000 and a maximum of ₹50 lakh. With a loan facility available after three years and the option to surrender after three years, policyholders receive a last declared bonus of ₹52 per ₹1000 sum assured per year, making it a viable choice for those seeking financial security.
4) “Yugal Suraksha”:
Tailored for individuals aged 21 to 45, the Yugal Suraksha policy provides coverage with a sum assured ranging from ₹20,000 to ₹50 lakh. Offering a loan facility after three years and surrender options after the same duration, policyholders benefit from a last declared bonus of ₹52 per ₹1000 sum assured per year.
5) “Sumangal”:
Designed for policy terms of 15 or 20 years and targeting individuals aged 19 to 40, the Sumangal policy stands out with a last declared bonus of ₹48 per ₹1000 sum assured per year. This policy offers a unique proposition for those looking for a more extended commitment and stable returns.
6) “Bal Jeevan Bima”:
Geared towards parents aged below 45 with children between 5 to 20 years, the Bal Jeevan Bima policy ensures the financial security of a maximum of two children. With a maximum sum assured of ₹3 lakh, policyholders benefit from a last declared bonus of ₹52 per ₹1000 sum assured per year, making it a well-rounded choice for families.
Conclusion: In conclusion, the diverse array of PLI policies caters to a broad spectrum of individuals, each policy crafted to meet specific financial needs and life stages. Whether safeguarding the future of children, planning for retirement, or ensuring financial stability during unforeseen circumstances, PLI’s comprehensive range of policies provides a robust platform for individuals to secure their financial well-being.
