RPLI - PLI Default Fee cum GST Calculator

Select Premium Type: Renewal Premium First Year Premium

GST 4.5% and 2.25% is calculated for FY and Renewal premium.

Please select a premium mode

Select Premium Mode: Select mode Monthly Quarterly Half-Yearly Annually

Please select a premium mode.

Premium Amount without GST (₹):

Please enter a valid premium amount.

Number of Months (Overdue Premiums):

Please enter the number of overdue premiums.

Total Amount:

View Details

Total Premiums: ₹0

GST on Premiums @ : ₹0

Default Fee (12% annual): ₹0

GST on Default Fee @ 18%: ₹0

Final Total: ₹0

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The RPLI & PLI Default Premium Calculator's Objective

This calculator helps you determine the total amount due, including the default fees, if you have missed a premium payment for your PLI or RPLI insurance.

Premiums for lapsed policies can also be calculated with this tool. Please be aware, nevertheless, that you must first renew the insurance in order to pay premiums for lapsed plans. See our article, PLI/RPLI Revival Step-by-Step Guide, for comprehensive instructions on how to bring your policy back to life.

How to Utilize the Default Premium Calculator for RPLI and PLI

Pick the Premium Payment Method: Depending on your policy, pick the best payment method.

Enter the Premium Amount (GST Not Included). Enter the premium amount without the GST included.

Enter how many premiums need to be paid. Indicate the number of premiums that must be computed.

After selecting Calculate, you will see the following:

• Total Premium (not including GST)
• Total GST Default Charge
• On the default fee, 18% GST
• Final Total Amount

Important Information

The Indian government recently imposed an 18% GST on the default charge for plans that have expired. As a result, you must now pay two forms of GST for such policies:

• The default fees are subject to 18% GST. Each premium is subject to 4.5% GST, and the default fee is subject to 18% GST.
• 4.5% GST for every first premium
• 2.25% GST for every renewal premium