Whole Life Assurance (Suraksha)

The Whole Life Assurance (Suraksha) plan is a unique term insurance policy with added maturity benefits. Unlike standard term insurance, which provides only life cover without maturity value, the PLI Whole Life Assurance plan offers life coverage and a maturity bonus after the policyholder turns 80.

This plan allows policyholders to pay premiums until a specified age (55, 58, or 60 years). After the premium payment period ends, the policy remains active, providing life coverage until age 80. Upon maturity at age 80, the insured receives the maturity amount. In case of the policyholder’s death, the nominee will receive the full sum assured along with the accrued bonus.

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How to Use the PLI Whole Life Assurance Calculator

Our PLI Whole Life Assurance calculator is designed to help you understand the financial aspects of this plan. It calculates premiums, maturity values, total premiums paid, and the maturity date.

Steps to Use the Calculator

1. Visit our website and select the PLI Whole Life Assurance Calculator.
2. Enter the sum assured, date of birth, and select the premium payment age (55, 58, or 60).
3. Click the Calculate button.

This calculator simplifies decision-making by providing a detailed breakdown of costs and benefits. It includes a visual comparison of premiums and bonuses using a pie chart, making it easier to analyze the data.

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Result Breakdown

After clicking the “Calculate” button, the results are presented as:

• Table One: Premium details, GST, and total premium for payment modes (monthly, quarterly, half-yearly, and yearly).
• Table Two: Maturity details, including maturity value, maturity date, total bonus, and total premiums paid.
• Chart: A pie chart comparing the percentages of “Total Maturity Amount” and “Total Premium Paid.”

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Features and Eligibility of PLI Whole Life Assurance (Suraksha)

This plan is available for individuals aged 19 to 55 years. Policies mature when the policyholder turns 80. Premium payments are required only until ages 55, 58, or 60, based on the chosen premium payment term.

Eligibility:

PLI is available for some selected peoples here are the list of those peoples:

• Central Government employees
• Defence Services personnel
• Para-Military forces
• State Government employees
• Local Bodies staff
• Employees of government-aided educational institutions
• Reserve Bank of India staff
• Public Sector Undertakings staff
• Employees of financial institutions and nationalized banks
• Autonomous bodies
• Extra Departmental Agents (Department of Posts)
• Contract-based employees of the Central/State Government with extendable contracts
• Employees of scheduled commercial banks

For the complete list of eligible individuals, refer to the official document here.

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Key Features of the Plan

• Premium Payment Modes: Monthly, quarterly, half-yearly, and yearly
• Age Eligibility: Entry age 19–55 years
• Sum Assured: ₹20,000 (minimum) to ₹50 lakh (maximum)
• Loan: Available after 4 years
• Surrender: Allowed after 3 years
• Bonus: ₹85 per ₹1,000 sum assured per year (last declared bonus)
• Death Benefit: Full sum assured and accrued bonus paid to the nominee, assignee, or legal heir upon the policyholder’s death