How is surrender value of PLI calculated?
The paid-up value is calculated as original sum assured multiplied by the quotient of the number of paid premiums and number of payable premiums. On discontinuing a policy, you get special surrender value, which is calculated as the sum of paid-up value and total bonus multiplied by surrender value factor.
What is surrender factor in PLI?
What is surrender value of a policy? Surrender value of a policy, means the amount that is payable to an assured, when he foregoes the contingent benefit of his policy and surrenders it for an immediate cash payment.
How PLI maturity is calculated?
Calculated maturity is based on past bonus rates. The bonus included in maturity is taken as declared for past years and previous year’s bonus for future years of policy term. Sum Assured is life cover amount between 20,000 to 50,00,000. Current Age to be selected between 19 to 55 years.
How to calculate the surrender value of PLI?
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Which is the maximum sum assured in PLI?
Sum Assured can be from Rs20,000 (Minimum) to Rs 50 Lakhs (Maximum) in PLI. 3. How to pay PLI premium? You can PLI pay in any of the 1,54,939 Post offices i.e., Postal Life Insurance offices, in the Country.
How is maturity calculated for PLI endowment plan Santosh?
Calculated maturity is based on past bonus rates. Postal Life Insurance Premium and maturity calculator lets you to calculate premium and maturity of PLI endowment plan Santosh. The calculator provides complete yearly, half yearly, quarterly, and monthly premium as per sum assured, age and term.
What is the surrender value of a LIC plan?
Guaranteed Surrender Value in LIC Limited Premium Endowment Plan – Table No. 830 Surrender Year Policy Term (years) Policy Term (years) Policy Term (years) Surrender Year 12 16 21 1 0.00% 0.00% 0.00% 2 30.00% 30.00% 30.00% 3 30.00% 30.00% 30.00%