Post Office Scheme: There are many such life insurance schemes in the post office, one of them is the Gram Sumangal Rural Postal Life Insurance Scheme.
New Delhi:Â Post Office schemes are a safe and secure investment. If you also want good profits then you can invest in Gram Sumangal Rural Postal Life Insurance Scheme. This is an endowment scheme, which provides money back as well as insurance cover to the people living in rural areas. You get many types of facilities under this scheme.
Post office planÂ
Another advantage of this scheme is that if you invest only Rs 95 in it daily, then you can get Rs 14 lakh by the end of the scheme. Rural Postal Life Insurance Scheme was started in 1995. Under this scheme, the post office offers 6 different insurance plans. One of these is village Sumangal.
What is Gram Sumangal Scheme?
This policy is very beneficial for those people who keep needing money from time to time. A maximum sum assured of Rs 10 lakh is available in the money back insurance policy Gram Sumangal Yojana. After taking the policy, if the person does not die during the policy term, then he also gets the benefit of moneyback. On the death of the person, the nominee is given the sum assured as well as the bonus amount.
Who can take the policy?
Policy Sumangal scheme is available for two tenures. These include 15 years and 20 years. The minimum age for this policy should be 19 years. Maximum 45 years person can take this scheme for a period of 15 years. A maximum of 40 years old person can take this policy for 20 years.
Money back ruleÂ
In a 15-year policy, 20-20% money back is available on completion of 6 years, 9 years and 12 years. At the same time, the remaining 40% money will be given including bonus on maturity. Similarly, in a 20-year policy, 20-20 percent of the money is available on the terms of 8 years, 12 years and 16 years. The remaining 40% money will be given on maturity along with bonus.
Only Rs.95 per day premium
In terms of premium, if a 25-year-old person takes this policy for 20 years with a sum assured of Rs 7 lakh, he will have to pay a premium of Rs 2853 every month, that is, about Rs 95 on a daily basis. The quarterly premium will be Rs 8449, the half yearly premium will be Rs 16715 and the annual premium will be Rs 32735.
You will get Rs 14 lakh like this Â
1.4-1.4 lakh will be paid in the policy in the 8th, 12th and 16th year at the rate of 20-20%. Finally, in the 20th year, Rs 2.8 lakh will also be available as Sum Assured. When the annual bonus per thousand is Rs 48, the annual bonus on the sum assured of Rs 7 lakh is Rs 33600. That is, for the entire policy term i.e. 20 years, the bonus was Rs 6.72 lakh. There will be a total profit of Rs 13.72 lakh in 20 years. Out of this, Rs 4.2 lakh will already be available as money back and Rs 9.52 lakh will be given together on maturity.
