Prices Increasing Soon
Postal Life Insurance is one of the oldest insurance providers in the country. It currently offers a range of insurance products such as whole life insurance, endowment-based insurance protection, child plans, etc. Postal life insurance tax benefits are one of the key reasons why people buy PLI policies.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
By clicking on "View plans" you agree to our Privacy Policy and Terms of use
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
Postal Life Insurance (PLI) was founded in 1884 to offer life cover to the employees of the Postal Department. Later, all its plans were extended to employees working in different government or private sectors. PLI plans have also been introduced to serve the insurance needs of the rural population through its Rural Postal Life Insurance segment. The PLI plans are most sought after by people because of the high coverage and affordable premiums.
Term Plans
Policyholders can save a significant amount of their annual income using postal life insurance tax benefits. PLI tax benefits can be sought under the following sections of the Income Tax Act of India, 1961.
Under section 80C of the ITA of India, the premiums paid towards a life insurance policy are eligible for tax deductions.
The overall maximum deduction that can be made is limited to Rs. 1.5 Lakhs.
For policies issued on or before 31st March 2012, the amount of tax deduction under this section is limited to 20% of the sum assured.
For policies issued after, the tax benefit for PLI under 80C is limited to 10% of the sum assured.
These benefits are applicable only for PLI insurance policies bought for the taxpayer or his/her spouse and children.
*Note: Easily use the term life insurance calculator and calculate the premium amount of your chosen term life insurance plan.
As per the latest Union Budget, the Government of India has made the maturity benefits on postal life insurance tax benefits taxable if the average premiums paid in a year are more than 5 Lacs. Similarly, in ULIP plans, if the average premiums are more than 2.5 Lacs, the maturity benefits are taxable. This is applicable for policies purchased after 31st March 2023.
Death benefit received by the nominees of a PLI policy on the death of the life assured is tax-free under the Income Tax Act of India, 1961.
Secure Your Family Future Today
₹1 CRORE
Term Plan Starting @
Get an online discount of upto 10%#
Compare 40+ plans from 15 Insurers
Postal Life Insurance now extends its life insurance policies to the country's rural population. This was done to spread awareness and offer financial help to the families of the sole-earning members belonging to the lower-income category. The postal life insurance tax benefits under RPLI policies are the same as those of a regular life insurance policy. Policyholders can claim PLI tax benefit on the premiums paid and the benefits applicable under the following sections of the Income Tax Act of 1961:
You can buy PLI from the following sources:
Department of Posts Employees: You can buy PLI from various employees within the Department of Posts, such as inspectors, clerical staff, and postmen. These employees are knowledgeable about the policies and can guide you through the application process.
Field Officers of Postal Life Insurance: Field officers specifically designated for Postal Life Insurance are another source for purchasing PLI. These officers are dedicated to promoting and managing PLI policies, making them a reliable option for detailed information and assistance.
Gramin Dak Sevaks: In rural areas, Gramin Dak Sevaks, who work at Branch Post Offices or Gramin Dak Ghars, can help you buy PLI. They are accessible to rural residents and can provide the necessary forms and guidance for purchasing a policy.
Direct Agents: Direct agents, authorized by the Postal Life Insurance, are also available to assist with purchasing PLI. These agents are trained to offer comprehensive advice on various policies and help with the application process.
You can easily make PLI Online Payment using the information provided below:
| Subject | PLI Premium Payment 2024 |
| PLI Website | https://www[dot]indiapost[dot]gov[dot]in/ |
| PLI Web Portal | https://pli[dot]indiapost[dot]gov[dot]in/ |
| PLI Payment Link | https://pli[dot]indiapost[dot]gov[dot]in/CustomerPortal/PSLogin[dot]action |
Here are the steps to download PLI Online Payment Receipt:
Step 1:Go to the official website of "India Post" and click on "Login"
Step 2:Navigate to the 'Tools and Utilities' section and then, choose "Payment History"
Step 3: Enter your PLI policy number, and then click on 'Get Payment History'
Step 4:Download the PLI payment receipt online and save it for future reference
*Note: It is suggested that you first know what is term insurance and what its key features are before you buy term plan or Postal Life Insurance.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
Life insurance fraud is a financial crime that can be committed
Read more
High net worth individuals often opt for life insurance plans to
Read more
“Policy Bazaar insurance clarified the term policy for me, so
Read more
“I recently bought an HDFC term plan and it is the best
Read more
The life insurance policy in India is a type of life insurance
Read moreInsurance
Calculators
Payment Methods
Secured With
Follow us on
