Talking about premium, it depends on your age. At the age of 25, it becomes 5042 rupees.
Today we are going to tell about a scheme of the post office in which a deposit of Rs 5042 will yield a return of Rs 7.25 lakh. It is one of the six major insurance schemes of the post office. The name of this scheme is Gram Priya (Post Office Gram Priya). The duration of this scheme is 10 years. It comes under the Rural Postal Life Insurance Scheme.
The minimum entry age for this scheme is 20 years and the maximum entry age is 45 years. This scheme is for ten years. This means the minimum age limit of maturity is 30 years and the maximum age limit is 55 years. The minimum sum assured is 10 thousand rupees and the maximum sum assured is 10 lakh rupees for the village dear scheme. The insured also gets the benefit of life insurance for 10 years.
This is an investment cum insurance policy. It is also a money back plan. Under this plan, the insured will get 20 percent of the sum assured after completing four years, 20 percent on completion of 7 years and 60 percent of the rest on completion of 10 years. Apart from this, the amount of bonus will also be available.
LIC announces bonuses every year. This amount is different for different schemes. According to the information available on LIC’s mobile app, for this time, a bonus of 45 rupees is being given per thousand sum assured for the village sweetheart. If the investor dies after taking the policy, the nominee will get the benefit of the sum assured and bonus.
Talking about premium calculation, it depends on your age. If at the age of 25 years, someone enrolls for this scheme and the sum assured is Rs 5 lakh, then his net monthly premium will be Rs 5042. On completion of 10 years, he will get 2.25 lakh rupees (45/1000 * 500000 = 225000) at the rate of current bonus. If he has enrolled in this scheme in 2021, then under the rule, in 2025, 20 percent of the sum assured will be 1 lakh rupees. In 2028, 1 lakh rupees will be available as moneyback. The remaining three lakhs of the sum assured will be met in 2031 and along with this, you will get a bonus of 2.25 lakh rupees. In this way, in addition to money back, in 2031 you will get a lump sum of Rs 5.25 lakhs (3 lakhs sum assured and 2.25 lakhs bonus).
