Postal Life Insurance (PLI) – Rate of Bonus for Financial Year 2021-22
Postal Life Insurance (PLI) provides a great opportunity for individuals to secure their future financially. As the financial year 2021-22 is underway, many are eager to know the rate of bonus for their PLI. This rate of bonus will determine how much additional benefits individuals will receive on their policies. It is important to note that the rate of bonus for PLI may vary depending on the type of policy and the coverage amount. Therefore, it is crucial to have a thorough understanding of the policy and its bonus structure to make informed decisions about financial planning.
Post Office Life Insurance Fund (POLIF)
MINISTRY OF COMMUNICATIONS
(Department Of Posts)
(DIRECTORATE OF POSTAL LIFE INSURANCE)
New Delhi. the 18th February, 2021
F. No. 04-01/2019-LI: —In exercise of powers conferred vide Rule 3 of Post Office Life Insurance Rules (2011) and on the basis of Actuarial Valuation of the assets and habilities of Post Office Life Insurance Fund (POLIF) as on 31.03.2020, the Director General (Posts) is pleased to declare a simple Reversionary Bonus on the Postal Life Insurance Policies on their becoming claims. due to death or maturity at the following rates:-
|Type of Insurance Policy||Rate of Bonus|
|i. Whole Life Assurance (WLA)||Rs. 76/- per thousand of sum assured|
|ii. Endowment Assurance (EA)
(including Joint life & children policies)
|Rs. 52/- per thousand of sum assured|
|iii. Anticipated Endowment Assurance (AEA)||Rs. 48/- per thousand of sum assured|
|iv. Convertible Whole Life Policies (CWA)||Whole Life bonus rate would be applicable, but on conversion, Endowment Assurance bonus rate will be applicable|
|v. Terminal Bonus||Rs. 20/- per sum assured of Rs. 10,000/- subject to maximum of Rs. 1000 for Whole life assurance and Endowment assurance policies with term of 20 years
2. The rates of Bonus for the Financial Year 2021-22 will be applicable from 01.04.2021.
3. Interim Bonus at the rates mentioned above will also be payable for all claims arising due to maturity or death until future valuation is completed.
4. The amount of Bonus involving a fraction of 50 paisa or more shall be rounded off to the next higher Rupee and fraction below 50 paisa shall be ignored.
Chief General Manager (PLI).
(Equivalent to Addl Secy.)
What is PLI Bonus Rate 2021-22?
PLI Bonus Rate 2021-22 is the rate of bonus announced by the Post Office Life Insurance Fund (POLIF) for the fiscal year 2021-22.
What is Post Office Life Insurance Fund (POLIF)?
Post Office Life Insurance Fund (POLIF) is a life insurance scheme offered by the Indian Postal Service.
How is the PLI bonus rate calculated?
The PLI bonus rate is calculated based on the performance of the fund. The higher the performance, the higher the bonus rate.
When is the PLI bonus rate announced?
The PLI bonus rate is usually announced at the beginning of the fiscal year.
Why is the PLI bonus rate important?
The PLI bonus rate is important as it determines the amount of bonus that will be paid to the policyholders. It also impacts the returns on the policy.
Is the PLI bonus rate guaranteed?
No, the PLI bonus rate is not guaranteed as it is calculated based on the performance of the fund.
What should a policyholder do if they have questions related to the PLI bonus rate?
A policyholder can contact their local post office or visit the official website of the India Post to get more information about the PLI bonus rate.