Convertible Whole Life Assurance (Suvidha) Plan - PLI Premium Calculator

What is the Convertible Whole Life Assurance (Suvidha) Plan?

The Convertible Whole Life Assurance (Suvidha) Plan is a life insurance policy that provides lifelong coverage with the added flexibility of converting to an Endowment Assurance Policy after 5 years. In the event of death, the sum assured along with any accrued bonuses will be paid to the nominee or legal heir of the policyholder. This plan is ideal for individuals who are looking for long-term protection and want the option to convert to a more savings-oriented policy later on.

To help you calculate your premium for this plan, you can use the easy-to-use Postal Life Insurance Calculator available on our website.

How to Use the Convertible Whole Life Assurance (Suvidha) Plan Premium Calculator

Follow these simple steps to calculate the premium for your Convertible Whole Life Assurance (Suvidha) Plan:

1. Enter Your Date of Birth: Input your birthdate in the "Date of Birth" field. This is essential for calculating your age on the next birthday, which affects your premium amount.
2. Enter the Sum Assured: Specify the sum assured amount, i.e., the amount you wish to insure under the plan. This can range from ₹20,000 to ₹50 lakh.
3. Choose the Maturity Age: Select the age at which you want the policy to mature. This is typically the age at which you want to start receiving the benefits of the policy.
4. Click the "Calculate Premium" Button: Once you've entered the required details, click the "Calculate Premium" button to view your premium details.
5. View Your Results: After the calculation, the tool will display:
   • Your age on the next birthday
   • The premiums for monthly, quarterly, half-yearly, and yearly payment options
   • The bonus amount based on the sum assured
   • The total maturity value at the time of policy maturity
6. Explore Other Options: If you're satisfied with the results, you can use this information to decide on the best premium payment option for your needs. You can also explore other related insurance calculators available on the website for different plans.

Once you have the premium calculated, you will have a clearer understanding of the financial commitment involved in the Convertible Whole Life Assurance (Suvidha) Plan, making it easier to make an informed decision.

Key Features of the Convertible Whole Life Assurance (Suvidha) Plan:

• Minimum & Maximum Age at Entry: 19-50 years
• Minimum Sum Assured: ₹20,000; Maximum ₹50 lac
• Loan Facility: Available after 4 years of policy holding
• Surrender Option: Available after 3 years
• Bonus Eligibility: Not eligible for a bonus if the policy is surrendered before 5 years
• Conversion: The policy can be converted into an Endowment Assurance Policy after 5 years, but no later than 6 years
• Last Declared Bonus: ₹76 per ₹1000 sum assured per year (if the policy is not converted to an Endowment Assurance Policy)
• On Conversion: Bonus of Endowment Assurance will be payable once the policy is converted

Why Should You Choose the Convertible Whole Life Assurance (Suvidha) Plan?

The Suvidha Plan is an ideal choice for those who want long-term life coverage but also desire the flexibility to switch to an Endowment Assurance Policy after 5 years. The ability to accumulate bonuses and the added benefit of conversion gives you the best of both worlds — life protection and a potential savings plan.

To get an estimate of your premium, visit the Postal Life Insurance Calculator and plan your coverage accordingly. This tool will help you determine how much you’ll be paying for the premium based on the sum assured and your chosen payment options.

If you're interested in exploring more about Postal Life Insurance policies or learning about other options, you can visit the official Postal Life Insurance website for comprehensive details.

Benefits of Postal Life Insurance (PLI):

• Government-Backed Security: PLI is a government-backed insurance plan that offers you reliable and secure financial protection.
• Affordable Premiums: PLI provides affordable premiums that make life insurance accessible to a wide range of individuals.
• Customizable Plans: With flexible premium payment options and multiple coverage choices, you can tailor the policy to your needs.
• Wide Accessibility: Thanks to India Post's extensive network, PLI is easily available in cities, towns, and even remote areas across India.

Conclusion

The Convertible Whole Life Assurance (Suvidha) Plan is a great way to secure your family's financial future while keeping options open for future conversion into an Endowment Assurance Policy. With the possibility of accumulating bonuses and flexible policy options, this plan offers both security and growth potential. Whether you are looking for long-term life coverage or a future savings plan, the Suvidha plan caters to your needs.

To calculate your premium and find out more about this plan, visit the Postal Life Insurance Calculator. You can also visit our home page or check out the official Postal Life Insurance website for more information on various policies available.