RPLI - Different Plans

RPLI offers following types of plans:

1. Whole Life Assurance ( GRAMA SURAKSHA)
2. Convertible Whole Life Assurance (GRAMA SUVIDHA)
3. Endowment Assurance ( GRAMA SANTOSH)
4. Anticipated Endowment Assurance  (GRAMA SUMANGAL)
5. GRAM PRIYA
6. Scheme for Physically handicapped persons

The salient features of the Whole Life, Endowment, Convertible Whole Life and Anticipated Endowment Schemes of RPLI are same as the corresponding schemes of PLI except that the minimum Sum Assured is Rs.10,000 and the maximum Sum Assured is Rs.5 lac.  The maximum age limit of entry is 55 years in case of Whole Life and Endowment Assurance but 45 years in case of other plans.

All the schemes have compulsory medical examination.  For the non-medical policies, the maximum limit of Sum Assured is Rs.25,000/-, and maximum age is 35 years.   In case of  Non-standard age proof for Rural PLI policies, the maximum age limit is 45 years.

How to take loan in PLI

Loan is admissible on Whole Life Assurance (WLA), Endowment Assurance (EA) and Convertible Whole Life Assurance (CWLA) policies.

Currency of policy should be minimum of 3 years in case of EA and CWLA.

Currency of policy should be minimum of four years in case of WLA.

Policy should be unencumbered/ unassigned.

Loan Limit:

(a) Whole Life Assurance
Currency of Policy	Percentage of surrender value onwhich loan is admissible
More than 4 years to 7 years	60%
More than 7 years to 12 years	80%
More than 12 years	90%

(b) Endowment Assurance and Convertible Whole Life Assurance
Currency of Policy	Percentage of surrender value onwhich loan is admissible
More than 3 years to 5 years	60%
More than 5 years to 10 years	80%
More than 10 years	90%

Insurant should apply on LI-35 (loan application) and send to DDM (PLI) alongwith policy document and premium receipt book.

Second and subsequent loan is admissible after a year if the first loan is fully repaid.

Loan interest @ 10% p.a is calculated on six monthly basis.

Its a pleasant news for all Central / State Government Employees in Kerala that the limit of Postal Life Insurance increased 20 lakhs from 10 lakhs.