The minimum entry age for the post office Gram Suraksha scheme is 19 years and the maximum entry age is 55 years. The minimum sum assured is Rs 10,000 and the maximum sum assured is Rs 10 lakh.
Post Office insurance policy: Today we are going to tell you about such an insurance policy of Post Office which covers your whole life. Postal life insurance does not come under the purview of IRDAI and in this, the policyholder also gets the benefit of bumper bonus. Bonus is announced every year by the post office.
The name of this insurance policy is Post Office Gram Suraksha. It is a Rural Postal Life Insurance (RPLI) scheme which was started in 1995. Especially it has been prepared for the poor people of rural India. Talking about the eligibility, the minimum entry age is 19 years and the maximum entry age is 55 years. The minimum sum assured is Rs 10,000 and the maximum sum assured is Rs 10 lakh. Loan facility is available after four years. This policy can be surrendered after three years. As per the information available on the India Postal Life Insurance mobile app, the bonus is Rs 60 per thousand sum assured. Meaning the one year bonus on the sum assured of one lakh is Rs 6000.
The nominee will get the benefit of maturity
The special feature of this policy is that on the death of the insured, the nominee gets the benefit of maturity or on the completion of 80 years of the life assured, he gets the benefit of maturity. The maturity age limit under this policy can be 50, 55, 58 and 60 years.
How much will be the monthly premium
Talking about the premium amount, under the RPLI scheme, if someone buys a sum assured of 5 lakhs at the age of 19 years and his maturity age is 60 years, then the premium amount for every month will be Rs 705. The premium on maturity of 58 years will be Rs 732, on maturity of 55 years the premium will be Rs 758 and on maturity of 50 years the premium will be Rs 810.
17.30 lakh will be available on maturity
The maturity amount will be 17.30 lakhs for 60 years maturity, 16.70 lakhs for 58 years, 15.80 lakhs for 55 years and Rs 14.30 lakhs for 50 years. Calculating the bonus is quite easy. It is Rs 60 per thousand sum assured per annum. Accordingly, the bonus on the sum assured of one lakh became Rs 6000. The annual bonus on the sum assured of 5 lakhs became 30 thousand rupees. If an 18-year-old boy chooses a 60-year plan, then the total bonus in 41 years is Rs 12.30 lakh. In these 41 years, he will deposit Rs 3.46 lakh as premium.
