Two options are available in the post office scheme Gram Sumangal Rural Postal Life Insurance Scheme. You can take it for 15 or 20. In this, on the death of the insured, the nominee is given a bonus in addition to the sum assured.
Post office scheme
If you are thinking of investing in a scheme in which you can get better returns with safety, in such a situation, then you will get the Gram Sumangal Rural Postal Life Insurance Scheme of the Post Office (Gram Sumangal Rural Postal Life Insurance Scheme). Can invest in In this, you get other facilities along with moneyback.
This post office scheme is for those living in rural areas. In this scheme you will get the benefit of insurance cover. Also, if you need, you can get a fixed amount. Under this scheme, you can get a return of up to about Rs 23 lakh by saving just Rs 138 daily. So what is the scheme and how can you invest in it, know the whole process.
What is the scheme
Village Sumangal Rural Postal Life Insurance Scheme was started in 1995. Post office offers 6 different insurance schemes under this scheme. The minimum sum assured in this policy is 10 thousand rupees and maximum 10 lakh rupees. If the insured survives till the policy is completed, then he also gets the benefit of moneyback. On the other hand, if the person dies, then the nominee is given bonus along with the sum assured.
Special features related to policy
The minimum age to invest in this scheme should be 19 years and maximum 45 years. In Sumangal scheme you get two options. You can take this scheme for 15 years or 20 years. If you take a 15-year policy, then the insured will get 20-20 percent money back on completion of 6 years, 9 years and 12 years. At the same time, the remaining 40 percent of the money will be given along with the bonus on maturity. Whereas, on taking the policy for 20 years, the investor will be given 20-20 percent money over a period of 8 years, 12 years and 16 years. The remaining 40 percent of the money will be given at maturity with a bonus.
How is the deal of profit
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, you will get 20-20 percent in the 8th, 12th and 16th year i.e. around 2 – 2 lakh rupees. After this, in the 20th year, 4 lakh rupees will also be given in the form of sum assured. On this, a bonus of Rs. 65 per year will also be charged. In such a situation, the annual bonus on the sum assured of 10 lakh rupees was 65000 rupees. That is, the annual bonus is 65000 x 20 = Rs. 13,00,000 lakhs. In this case, you will get about 23 lakh rupees in this scheme.
Also read: SBI, India’s largest bank pulls its hands off lending to Adani Group, screws over disputed coal mine
7th Pay Commission: Good news for government employees! DA will get full benefit from July 1
