Savings scheme – Postal Life Insurance

“Do not save what is left after spending, but spend what is left after saving” – Warren Buffet.

        By seeing at the title you all would be wondering how PLI will be the best savings scheme because its an Insurance policy scheme. Usually we prefer Insurance for the risk cover but unlike other Insurance schemes PLI is best for Savings as well as an Insurance Scheme. I am going to pen down all the benefits of this. (don’t think i am marketing the Insurance policies as if Insurance agent).

I do not know how many of them are following the above mentioned quote but still I would say we need to save atleast some part of money out of our earnings because we should not have situation to lend money from others.(This is my thought).

         It is true that savings will give some kind of confident to ourselves to face any type of situation be it emergency, children education, unexpected expenses etc., how many of you are in private job and properly saving your money. (it is up to you) . But I wanted to share how savings is important and so please read the blog till the end. We have seen many who spend nicely even buying loan only to live a luxorious life but for tomorrow? A big question. (Remember, I am not talking about people who already well-settled but for the ones who earns and expecting monthly salary for the basic needs and wants).

1. Do we get pension in private job once after retirement?
2. Do you want your son/daughter to take care of you? (of course, they will but..)
3. Do you believe that your final settlement amount is enough of your living?

Can you answer yourself to all the questions if you still want to stand on your own legs after ages?

I am going to detail you one of the trustable saving policy (it is trustable because it is one of the Central Government scheme. That is PLI Postal insurance). I got to know this policy from one of my colleague.

Why should you choose PLI?

Main highlights,

• Low Premium - High Bonus

• Risk Cover

• Loan Facility available

• Revival facility

• Eligible age limit 19 to 55

Other benefits,

• Income tax rebate under 80C.

• Maturity amount rebate under Income Tax rebate 10D.

• On-line facility to pay premium.

Previously this scheme is only for government / PSU employees as most benefited scheme but is has been extended to all the profession like Engineers, Doctors, Advocates, Bankers ,Auditors and all the employees of listed Private companies in stock exchange & Bombay stock exchange. I will explain here with simple example of all the pros & cons.

A small comparison of PLI with other savings scheme.

Type Monthly Deposit  Yearly Amount Payment of 15 Years
PLI                  535                      6,420                         96,300                                
RD                   535                      6,420                         96,300                                
PPF                 535                      6,420                         96,300                                


Type        Amount at end
PLI             1,87,000
RD              1,75,128
PPF            1,86,365

By looking at a chart make a decision on your own whether it is useful to you by comparing PLI with Others. The Policy amount start from 1 Lakh to 20 lakhs and there are policy amount with less than 1 lakh as well.

“Today’s investment, tomorrow safety for our and ours family"

Under PLI there are many Investment schemes such as

1. Endowment assurance

2. Whole Life assurance

3. Anticipated Endowment Assurance

4. Yugal Suraksha

 All the above Insurance schemes can be viewed in detail in "Post Info" mobile application (can be downloaded from play store), but I wanted to explain in detail about one of the Insurance scheme which is commonly opted by all.

Endowment Assurance :

Below is for people of age 26.

Policy Amount           :              10 Lakhs INR

Monthly Premium      :              2456 INR

Yearly Bonus added   :              58000 INR

Bonus at Maturity      :              18,56,000 INR

TotalMaturity amount        :      28,56,000 INR

Maturity age              :               58

If you are going to pay premium by half yearly or annually you will get a rebate of 1% or 2% (it’s your own interest to choose).

Hope all of you got some idea on saving our hard-earned money. For further details, Please look into "Post Info" App or contact us at amazinglifeexperience2020@gmail.com. Also please leave your valuable comments.

See you..Bye!