What are the features of Postal Life Insurance Convertible Whole Life Assurance (Suvidha) – CWLA PLI

A Whole Life Assurance Policy with the added feature of an option to convert to Endowment Assurance Policy at the end of five years of taking policy.

1. Assurance to the extent of sum assured with accrued bonus till attainment of maturity age.
2. In case of death, assignee, nominee or legal heir paid full amount of sum assured with accrued bonus.
3. Minimum age & Maximum age at entry: 19-55 years
4. Can be converted into Endowment Assurance after 5 years not later than 6 years of taking policy. If not converted, policy will be treated as Whole Life Assurance
5. Minimum sum assured ₹ 20,000; Maximum ₹ 50 lac
6. Loan facility after 4 years
7. Surrender after 3 years
8. Not eligible for bonus if surrendered before completion of 5 years
9. Last declared Bonus- ₹ 76/- per ₹ 1000 per year (for WLA policy if not converted to Endowment Assurance)
10. On conversion, bonus of Endowment Assurance will be payable.

Source: www.indiapost.gov.in