Following the end of 5 years, Post Office convertible whole life assurance scheme can be changed into an Endowment Assurance policy. But the insured person must be under the age limit of 55 on the date of conversion. This is a combined investment and life protection coverage.

If the insurance is not changed to an Endowment Assurance policy within 6 years of its conclusion, it can be considered a whole life insurance policy in PLI. In addition, you may only get a mortgage or terminate the insurance after 3 years of coverage. Suvidha Post Office Scheme is appropriate for people who can’t select between “Endowment Assurance policy (Santosh)” and “whole life insurance policy (Suraksha)” schemes.


  • Insurers are eligible for tax breaks under Section 88 of the IT Law.
  • PLI policies are significantly less costly than any other form of insurance policy available in the market.
  • Insurers may use the passbook function to maintain a record of regular transactions (for loans).
  • Payments may be paid on an annual, semi-annual, or monthly basis.
  • This policy allows policyholders to name their heirs.
  • Because the PLI platform seems to be well organized, the claiming process is simple and speedy.
  • A policyholder will receive a 1% premium refund if they pay their payments in advance for a 6-month insurance period.
  • A policyholder will receive a 2% premium refund if they pay their payments in advance for a 12-month insurance period.


Employees of the organizations listed below are eligible to Buy Convertible Whole Life Assurance from our website.

  • State government
  • Military officers
  • Armed forces
  • The central government
  • Schools and colleges supported by the government
  • Financial institutions
  • The reserve bank of India (RBI)
  • Enterprises in the government sector
  • Those employed on a term agreement in the state or central government, with the possibility of extension
  • Independent bodies
  • Banks that have been nationalized
  • Local organizations
  • The staff of every banking institution listed on the schedule
  • Those working in any co-operative society which is recognized by the authorities under the society’s registration act. The central or state government may partially or entirely sponsor these, the reserve bank of India, nationalized banks such as NABARD and SBI, and so on
  • Those who work at academic establishments have been certified by any recognized authorities like the AICTE, the NAAC, the MCI, etc.
  • Additional divisional officers in the postal service