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The rural postal life insurance (RPLI) calculator is an online tool that allows users to calculate the required life cover (sum assured) at low premium rates to avail of the RPLI plan benefits. This helps RPLI insurance buyers to make an informed financial decision. RPLI calculator is easily accessible online, less time-consuming and user-friendly.
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The RPLI premium calculator is an online tool that calculates premiums payable against the sum assured under a policy. The tool can be used multiple times to recalculate premium rates by changing policy features, policy terms, premium payment, sum assured, etc. This ensures that the policyholder gets to the right life insurance that fits her/his needs and budget. The RPLI premium calculator is available online on India Posts’ official website and the Department of Posts mobile application, Post info.
Let us understand how the RPLI calculator works with the help of this example:
Suppose Suresh wants to buy rural postal life insurance to secure his family's financial stability. If she wishes to buy Gram Santosh for a 50,000 sum assured with 40 years as his maturity age. By entering the above details into the rural postal life insurance calculator, he can easily assess the premiums applicable for different modes.
Term Plans
You can use the RPLI calculator to calculate rural postal life insurance online through the website of India Post. Follow the guide below if you are looking to purchase any of the 6 RPLI schemes discussed above.
Step 1: Visit the India Post’s official page
Step 2: Click on the Rural Postal life insurance option and click on OK when directed to the external link
Step 3: Under the tab Purchase a Policy, click on Quote.
Step 4: Fill in the required contact details, DOB, product type (RPLI in this case), sum assured, occupation, gender, state of residence, and the name of the insurance scheme.
Step 5: Fill in the image captcha and click on Get Quote.
The resulting page offers monthly, quarterly, half-yearly, and yearly premium quotes.
Alternatively, you can download the Post info application on your device and use the premium calculator available on the platform. Once you are satisfied with the premium displayed, you can proceed to buy the policy.
Rural postal life insurance (RPLI) schemes, introduced in 2005 by the Government of India, is an insurance scheme that is specifically designed for the people living in the rural regions of India. 1995 to enhance insurance coverage in rural areas of the country. The main objective of this RPLI scheme is to provide insurance coverage to the rural public and benefit the weaker sections and female workers of rural regions. Moreover, Rural Postal Life Insurance Schemes help in creating awareness about life insurance among rural public.
There are 6 different types of Rural Postal Life Insurance policies designed for people living outside the municipal boundaries of cities/towns:
Whole Life Assurance (Gram Suraksha)
Convertible Whole Life Assurance (Gram Suvidha)
Endowment Assurance (Gram Santosh)
10 Years Rural PLI (Gram Priya)
Anticipated Endowment Assurance (Gram Sumangal)
Children Policy (Bal Jeevan Bima)
Here is a list of key features and benefits of using the rural postal life insurance calculator online:
Estimate Premiums: The RPLI calculator allows you to accurately calculate your estimated premiums online in just a few minutes.
Easy to Use: The rural postal life insurance calculator is simple and easy to use as this online tool is available 24x7 from the comfort of your home.
Cost-effective: The RPLI Calculator is freely available online and offers correct results no matter how many times you use it.
Flexible: The rural postal life insurance calculator is flexible and thus, you can alter the life cover or policy term to find a plan that fits within your budget.
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Similarly like, term insurance plan, on surviving the policy term of an RPLI policy, the life assured can claim the maturity benefit amount. The sum assured on maturity is decided by the buyer at the time of policy inception based on his/her requirements. Given that the bonus rate for the policies keeps on changing, RPLI maturity calculation will not be accurate. However, once buyers have fixed the sum assured amount, they can keep track of the latest bonus rates and calculate the final maturity amount themselves. The bonus rates are usually declared at a rate per 1000 sum assured.
Apart from the maturity benefit, the RPLI surrender value calculation can also be done by the policyholders themselves based on the year of surrendering and the RPLI policy’s terms and conditions. You should note that RPLI policies do not offer the bonus amount if the policy is surrendered before the completion of 5 policy years.
The maturity amount for RPLI policies is different for each plan as the life cover and premium payment option, and other such policy details may be different for various RPLI policies. You can calculate the RPLI calculator maturity amount using the RPLI maturity calculator to get a better idea of the maturity amount you would be eligible to receive in the year 2024.
Also, the RPLI policies with the endowment benefit can be used with Premium Tables offered for the specific RPLI schemes to determine the maturity benefits. This can be easily accessed using the following steps:
To assess the RPLI calculator you need to:
Step 1: Visit the Rural postal life insurance webpage
Step 2: Select the Premium Table option
Step 3: Click to open the PDF file for your desired RPLI Policy
Step 4: The maturity benefits (if any) will be mentioned in the payout section
Following are the benefits of the rural postal life insurance schemes:
You can revive your lapsed life insurance plan by paying the unpaid premiums.
You can avail a loan facility under RPLI.
You can convert your plan from one type to another, like from a whole life assurance plan to an endowment assurance plan, after a certain period.
You can request the postal department to change the nomination.
If your original plan document is damaged or lost, you can get a duplicate copy issued.
*Note: You can also check the benefits of term insurance
Let us take a look at why you should use the rural postal life insurance calculator or the RPLI maturity calculator:
It helps in your financial decision-making.
The RPLI calculator lets you customize coverage to fit your budget.
The premium quotes are calculated in an instant.
The tool is free and can be used as many times as one wants.
The rural postal life insurance calculator displays premiums payable monthly, quarterly, half-yearly, and annually.
The RPLI calculator eliminates third-party involvement, thereby reducing the risk of misselling.
Age of the policyholder
Name of the policy
Chosen policy term
Sum assured
Premium ceasing age
RPLI calculator is an online tool that is available free of cost and is easy to use. With the RPLI premium calculator, you can calculate the approximate premiums you would need to pay for the desired life cover, whereas the RPLI maturity calculator allows you to estimate the expected maturity amount at the end of the policy term. Using the RPLI calculator, you can find the right plan for yourself that fits within your budget and provides suitable returns.
†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
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