Rural Postal Life Insurance in English
Rural Postal Life Insurance (RPLI) was established in 1995 with the objective of providing life insurance to rural people. Today, it offers 6 types of insurance policies. One of these is the Gram Sumangal scheme. Many new schemes have been launched to benefit people in rural areas. It also provides insurance to people living in rural areas along with refunds.
Table of contents
- How to get Rs 14 Lakhs by Paying Rs 95 Premium
- Benefits of Gram Sumangal Yojana
- Who can take this policy
- How much is the premium amount
- Refund Criteria
- Successor Bonus
How to get Rs 14 Lakhs by Paying Rs 95 Premium:
If a 25-year-old buys the Post Office’s Gram Sumangal policy for a term of 20 years, to ensure Rs 10 lakh, they will have to pay a premium of Rs 2,853 per month, which is Rs 95 per day.
You can earn Rs 14 lakh by investing Rs 95 per day as premium through this life insurance plan. It is one of the six Grama Post life insurance schemes launched in 1995. You can earn Rs 14 lakh by investing Rs 95 per day as premium through this life insurance plan. It is one of the six Grama Post life insurance schemes launched in 1995.
Benefits of Gram Sumangal Yojana:
Under the Gram Sumangal scheme, the beneficiaries get the option of cashback. The maximum sum insured is Rs. 14 lakhs will be available to them. If the beneficiary is alive at the end of the policy, he will get the money. Three installments: In the sixth, ninth and twelfth years of the 15-year policy, the beneficiary gets 20% cashback. On maturity, the beneficiary gets the bonus and the remaining 40% of the money.
Who can take this policy:
There are two types of plans. One is a 15 year policy. Another is a 20-year policy. The entry age for this policy is 19 years. The maximum age is 45 years for a 15-year term policy and 40 years for a 20-year policy. There are two types of plans. One is a 15 year policy. Another is a 20-year policy. The entry age for this policy is 19 years. The maximum age is 45 years for a 15-year term policy and 40 years for a 20-year policy.
Also Read : How Middle class people can also become millionaires By LIC Jeevan Chiromani-2022
How much is the premium amount:
25 year old person for 20 years Rs. 7 lakh insured, he will pay Rs. 2,853 as premium to be paid. Thus, the annual premium is Rs. 32,735 will be As per rules and regulations, Rs. 1000 and the annual bonus is Rs.48. That means annual bonus is Rs 3,36,00 for some confirmed Rs 7 lakh. The bonus for the entire policy term of 20 years will be Rs 6.72 lakh. Thus, during the 20-year policy period, a total of Rs. 13.72 lakhs profit will be earned. In total, Rs 4.2 lakh will be withdrawn. The remaining Rs 9.52 lakh will be paid on maturity.
Refund Criteria:
If you are buying a 15-year Gram Sumangal policy, you will get 20-20 percent cashback in 6 years, 9 years and 12 years. The remaining 40 percent of the money, which includes bonus, is paid to the policyholder on maturity. If you are buying a 20-year gram term policy, you will get 20-20 percent cash back on completion of 8 years, 12 years and 16 years. The remaining 40 percent will mature with bonus.
Successor Bonus:
If the person does not die during the policy period after taking the policy, he also gets the money back benefit. If the policyholder dies, the bonus is also paid to his nominee. If the person does not die during the policy period after taking the policy, he also gets the money back benefit. If the policyholder dies, the bonus is also paid to his nominee.