PLI Santosh Endowment Assurance (EA) Plan

Santosh Endowment Assurance (EA) plan is main insurance scheme available under Postal Life Insurance (PLI). Santosh Endowment assurance is a good option for the purpose of insurance, saving and tax planning. It is a bonus based plan where maturity is Sum Assured + accumulated bonus during policy term and death claim amount is Sum Assured + Accumulated bonus up to year of death and these benefits have been explained with help of an example. Before explanation with help of the example, eligibility plan parameter and features are given below.

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Related Link: PLI Premium & Maturity Calculator

Eligibility

Plans of Postal Life Insurance (PLI) is restricted to employees of Central & state Government, Public Sector Undertakings (PSUs) etc.

Plan Parameters

Age of Entry 19 to 50 years
Possible Maturity age 35, 40, 45, 50, 55, 58, 60
Premium Payment Mode Monthly, Quarterly, Half yearly or yearly
Sum Assured 20,000 and above
Availability of Loan & Surrender After 3 years

Related Link: PLI vs LIC


Maturity Benefits

On completion of Policy term, maturity will be Sum Assured + Bonus accumulated during policy term.

Death Benefits

In case of Death before maturity, death claim will be sum of Sum Assured and Bonus accumulated up to year of death.

PLI Santosh EA Plan with Example

For explanation purpose let's suppose, a person purchases this plan in year 2017 with following details.

Age 30 Year
Maturity Age 50 Year
Sum Assured 10,00,000 (10 Lakh)
Yearly Premium (Exclusive of Service Tax) Rs.46453

The Maturity and policy year-wise death claims have been calculated as per Bonus rate Rs 58 per thousand of Sum Assured per year, which latest bonus rate for this plan. The calculation assumes that above bonus rate to be constant throughout the policy term.

Year Age Sum Assured Premium Deposited Bonus (Approx) Death Claim (Approx) Maturity
2017 30 1000000 46453 0 1000000 --
2018 31 1000000 92906580001058000 --
2019 32 1000000 1393591160001116000 --
2020 33 1000000 1858121740001174000 --
2021 34 1000000 2322652320001232000 --
2022 35 1000000 2787182900001290000 --
2023 36 1000000 3251713480001348000 --
2024 37 1000000 3716244060001406000 --
2025 38 1000000 4180774640001464000 --
2026 39 1000000 4645305220001522000 --
2027 40 1000000 5109835800001580000 --
2028 41 1000000 5574366380001638000 --
2029 42 1000000 6038896960001696000 --
2030 43 1000000 6503427540001754000 --
2031 44 1000000 6967958120001812000 --
2032 45 1000000 7432488700001870000 --
2033 46 1000000 7897019280001928000 --
2034 47 1000000 8361549860001986000 --
2035 48 1000000 88260710440002044000 --
2036 49 1000000 92906011020002102000 --
2037 50 1160000 2160000

Above illustration is a general information to exlain the plan.

Comments & Reviews

Wrote : 20-03-2018 08:13:55

Very useful and informative calculation. Now I will apply for PLI.

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Wrote : 19-03-2018 11:25:36

An excellent benefit for customers

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Wrote : 16-08-2017 23:29:02

Very very Useful and excellent

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Wrote : 07-06-2017 23:17:12

Very useful calculator ,i love it

Replied : 19-06-2017 19:30:25

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