The Endowment Assurance policy in PLI is quite identical to the other life insurance policy. As maturing rewards, the insured person would receive the total guaranteed money and any accumulated bonuses (if any). Also, the policy’s beneficiaries will receive the death benefits along with the bonus amount (if any) in case of the insured individual’s sudden death.

After 3 years, the person who buys a post office Endowment Assurance plan can obtain a loan. But, if a mortgage is obtained before the insurance has been in effect for 5 years, any incentives earned thus far would be forfeited. The lowest age to Buy Santosh Post Office Scheme is 18 years old, while the highest entrance age is 55 years old.


  • According to Section 88 of the IT Law, insurers are entitled to tax benefits.
  • PLI plans are substantially less expensive than any other type of insurance coverage in the business.
  • Insurers can use the passbook feature to keep track of monthly payments (for loans).
  • Payments can be made monthly, semi-annually, or yearly.
  • Policyholders can designate heirs under this policy.
  • The claims procedure is straightforward and quick since the PLI system is well-organized.
  • If a policyholder pays their premiums early for a 6-month insurance period, they will get a 1% premium rebate.
  • If a policyholder pays their premiums early for a 12-month insurance period, they will get a 2% premium rebate.


A postal life insurance scheme is available to workers of the organizations mentioned below:

  • State government
  • The central government
  • Armed forces
  • Those working in any cooperative society recognized by the authorities under the society’s registration act. These may be partially or entirely sponsored by the central or state government, the reserve bank of India, nationalized banks such as NABARD and SBI, and so on.
  • Schools and colleges supported by the government
  • Enterprises in the government sector
  • The reserve bank of India (RBI)
  • Financial institutions
  • Those employed on a term agreement in the state or central government, with the possibility of extension
  • Local organizations
  • Banks that have been nationalized
  • Independent bodies
  • 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
  • The staff of every banking institution listed on the schedule
  • Military officers

Our website offers many post office plans like Santosh, Suraksha, Suvidha, Yugal Suraksha, Sumangal and Bal Jeevan Bima.