Post offices offer various types of deposit schemes to the investors. Two options are available in the post office’s Gram Sumangal Rural Postal Life Insurance Scheme. You can take it for 15 or 20. In this, in addition to the sum assured amount, bonus is also given to the nominee on the death of the insured.
Post office scheme
If you are thinking of investing in such a scheme in which you get better returns along with security, then you can go for Gram Sumangal Rural Postal Life Insurance Scheme of the Post Office. can invest in. In this you get money back as well as other facilities.
This post office scheme is for the people living in rural areas. In this scheme, you will get the benefit of insurance cover. Also you can get a fixed amount if needed. Under this scheme, you can get returns up to Rs 23 lakh by saving just Rs 138 a day. So what is the scheme and how can you invest in it, know the whole process.
What is the scheme
Gram Sumangal Rural Postal Life Insurance Scheme was started in 1995. Under this scheme, the post office offers 6 different insurance plans. The minimum sum assured amount in this policy is Rs 10,000 and maximum is Rs 10 lakh. If the insured survives till the completion of the policy, then he also gets the benefit of moneyback. On the other hand, if the person dies, then the bonus amount is given to the nominee along with the sum assured.
Policy highlights
The minimum age to invest in this scheme should be 19 years and maximum 45 years. You get two options in Sumangal scheme. You can take this scheme for 15 years or 20 years. If you take a policy of 15 years, then the insured will get the benefit of 20-20% money back 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. Whereas on taking the policy for 20 years, the investor will be given 20-20 percent money on the terms of 8 years, 12 years and 16 years. The remaining 40% money will be given on maturity along with bonus.
How is profit deal
If a person takes a policy for 20 years at the age of 25 and has a sum assured of Rs 10 lakh, then he will have to pay a premium of Rs 4150 every month, that is, he will have to save about Rs 138 daily. Since under the policy, 20-20 percent will be available in the 8th, 12th and 16th year i.e. about 2-2 lakh rupees. After this, in the 20th year, Rs 4 lakh will also be available as Sum Assured. On this, an annual bonus of Rs 65 per thousand will also be applicable. In such a situation, the annual bonus on the sum assured of Rs 10 lakh was Rs 65000. That is, the annual bonus is 65000 x 20 = 13,00,000 lakh rupees. In such a situation, you will get about 23 lakh rupees in this scheme.
