Recently, PLI Bonus Rate 2023-24 has been declared by the Postal Directorate. If you want to know the latest PLI interest rate 2023-24 for calculating interest rates on PLI policies then this post will help you to know latest bonus rates on Postal Life Insurace (PLI)

Postal Life Insurance is the most popular product of the post office Department. People want to know the latest PLI bonus rate because the department of Post declares the PLI interest rate for every financial year separately. Here you will find the latest PLI bonus rate and RPLI interest rate for the year 2023-24.

PLI Bonus Rate 2023-24


PLI Bonus Rate 2023-24 in detail

A gazette notification has been issued by the Directorate of Postal Life Insurance which comes under the Department of Post, Ministry of Communcations, on 4th January 2023.

This notification contains PLI bonus rates 2023-2024 for all postal life insurance policies. According to this gazette notification, latest PLI bonus rates (Interest Rates) for the year 2023-24 are as under-

  • Whole Life Assurance (WLA) - Rs. 76/- per thousand of sum assured
  • Endowment Assurance (EA) (including Joint life & children policies) - Rs. 52/- per thousand of sum assured
  • Anticipated Endowment Assurance (AEA) - Rs. 48/- per thousand of sum assured
  • Convertible Whole Life Policies (CWA) - Whole Life bonus rate would be applicable, but on conversion, Endowment Assurance bonus rate will be applicable.
  • Terminal Bonus -  Rs. 20/- per sum assured of Rs. 10,000/- subject to a maximum of Rs. 1000 for Whole life assurance and Endowment assurance policies with a term of 20 years or more.

Latest PLI Bonus Interest rates 2023-24 chart and table


Name of PLI Policy

Bonus Rate for the year 2023-24

Whole Life Assurance (WLA) PLI Policy

Rs. 76/- per thousand of sum assured

Endowment Assurance (EA) PLI Policy

52/- per thousand of sum assured

Anticipated Endowment Assurance (AEA) PLI Policy

Rs. 48/- per thousand of sum assured

Convertible Whole Life Assurance (CWLA) PLI Policy

Whole Life bonus rate would be applicable, but on conversion, Endowment Assurance bonus rate will be applicable

Terminal Bonus PLI Policy

Rs. 20/- per sum assured of Rs. 10,000/- subject to maximum of Rs. 1000 for Whole life Assurance and Endowment Assurance policies with term of 20 years



Above rate of bonus on PLI for the financial year 2023-2024 is applicable from 01.04.2023. All PLI claims due to maturity or death will be payable as per above Bonus rate chart.  

Postal Life Insurance Bonus rates 2023-24 PDF 


Click here to Download PLI Bouns Rates or PLI Interest Rates for the year 2023-24.

PLI Bonus History till today

Now, I am going to share a list of PLI Bonus history from 2016 to 2023. You can check PLI Interest Rates History financial year wise.


PLI Bonus rate in FY 2016-2017

Whole Life Insurance (WLA)

Rs. 85/- per thousand of sum assured

Endowment Assurance (EA) (including Joint and Children policies)

Rs. 58/- per thousand of sum assured

Anticipated Endowment Assurance (AEA)

Rs. 53/- per thousand of sum assured

Convertible Whole Life Policies (CWA)

Whole life bonus rate would be applicable, but on conversion, Endowment Assurance bonus rate will be applicable

Terminal Bonus

Rs. 20/- per thousand of 10000/- subject to maximum of Rs. 1000 for Whole Life Assurance and Endowment assurance policies with term of 20 years or more.



PLI Bonus rate in FY 2017-2018

Whole Life Insurance (WLA)

Rs. 85/- per thousand of sum assured

Endowment Assurance (EA) (including Joint and Children policies)

Rs. 58/- per thousand of sum assured

Anticipated Endowment Assurance (AEA)

Rs. 53/- per thousand of sum assured

Convertible Whole Life Policies (CWA)

Whole life bonus rate would be applicable, but on conversion, Endowment Assurance bonus rate will be applicable

Terminal Bonus

Rs. 20/- per thousand of 10000/- subject to maximum of Rs. 1000 for Whole Life Assurance and Endowment assurance policies with term of 20 years or more.



PLI Bonus rate in FY 2018-2019

Whole Life Insurance (WLA)

Rs. 85/- per thousand of sum assured

Endowment Assurance (EA) (including Joint and Children policies)

Rs. 58/- per thousand of sum assured

Anticipated Endowment Assurance (AEA)

Rs. 53/- per thousand of sum assured

Convertible Whole Life Policies (CWA)

Whole life bonus rate would be applicable, but on conversion, Endowment Assurance bonus rate will be applicable

Terminal Bonus

Rs. 20/- per thousand of 10000/- subject to maximum of Rs. 1000 for Whole Life Assurance and Endowment assurance policies with term of 20 years or more.



PLI Bonus rate in FY 2019-2020

Whole Life Insurance (WLA)

Rs. 85/- per thousand of sum assured

Endowment Assurance (EA) (including Joint and Children policies)

Rs. 58/- per thousand of sum assured

Anticipated Endowment Assurance (AEA)

Rs. 53/- per thousand of sum assured

Convertible Whole Life Policies (CWA)

Whole life bonus rate would be applicable, but on conversion, Endowment Assurance bonus rate will be applicable

Terminal Bonus

Rs. 20/- per thousand of 10000/- subject to maximum of Rs. 1000 for Whole Life Assurance and Endowment assurance policies with term of 20 years or more.



PLI Bonus rate in FY 2020-2021

Whole Life Insurance (WLA)

Rs. 85/- per thousand of sum assured

Endowment Assurance (EA) (including Joint and Children policies)

Rs. 58/- per thousand of sum assured

Anticipated Endowment Assurance (AEA)

Rs. 53/- per thousand of sum assured

Convertible Whole Life Policies (CWA)

Whole life bonus rate would be applicable, but on conversion, Endowment Assurance bonus rate will be applicable

Terminal Bonus

Rs. 20/- per thousand of 10000/- subject to maximum of Rs. 1000 for Whole Life Assurance and Endowment assurance policies with term of 20 years or more.




PLI Bonus rate in FY 2022-2023

Whole Life Insurance (WLA)

Rs. 76/- per thousand of sum assured

Endowment Assurance (EA) (including Joint and Children policies)

Rs. 52/- per thousand of sum assured

Anticipated Endowment Assurance (AEA)

Rs. 48/- per thousand of sum assured

Convertible Whole Life Policies (CWA)

Whole life bonus rate would be applicable, but on conversion, Endowment Assurance bonus rate will be applicable

Terminal Bonus

Rs. 20/- per thousand of 10000/- subject to maximum of Rs. 1000 for Whole Life Assurance and Endowment assurance policies with term of 20 years or more.



Conclusion

PLI Bonus Rate 2023-24 or PLI Bonus Interest Rate 2023-24 are explained here in detail. Postal Life Insurance Bonus Rate chart for the year 2023-24 is also provided here.