Submit 2850 rupees in post office and will get around 14 lakh rupees after 20 years, know everything about this scheme

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Gram Sumangal is a money back insurance policy. Its maximum sum assured is 10 lakh rupees. If you need returns from time to time, then this scheme is a great option.


Rural Postal Life Insurance RPLI was started in 1995 with the objective of insuring the rural population on behalf of the post office. According to the data available on the India Post website, 146 lakh policies have been done through it till 31 March 2017. RPLI offers 6 types of insurance policies keeping in mind the different needs of the people. In this article, you are going to tell about Gram Sumangal Scheme.


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Gram Sumangal is a money back insurance policy. Its maximum sum assured is 10 lakh rupees. If you need returns from time to time, then this scheme is a great option. As long as the insured is alive, he gets the benefit of moneyback from time to time. If the insured dies, the nominee will get the total sum assured and bonus. Under this policy, after depositing a premium of Rs 2850, after 20 years, about 14 lakh rupees will be received.


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The policy term for village Sumangal is 15 years and 20 years. This policy can be purchased in at least 19 years. It can be entered up to the age of 40 years. The policy term can be 20 years if you are taking entry at the age of 40. If you take entry at the age of 45, then the maximum policy term will be 15 years.


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Talking about benefits, if you take a policy of 15 years, you get 20-20% of the sum assured at the completion of 6, 9 and 12 years after taking the policy. 40% money back and bonus is available on maturity. If the policy term is 20 years, then 8, 12, 16 years will get 20-20 percent money back. Bonus amount is available with 40% moneyback on maturity.


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Village Sumangal Scheme is also called Endowment Assurance Scheme. According to the information available on the India Post mobile app, the bonus for this scheme is currently getting 48 rupees. If A’s age is 25 years and he has bought a sum assured of Rs 7 lakh for 20 years, then his net monthly premium will be Rs 2853. Similarly, the three-month premium will be Rs 8449, the six-month premium will be Rs 16715 and the annual premium will be Rs 32735.


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Talking about the benefits, you will get 1.4-1.4 lakh rupees in the 8,12,16th year. In the 20th year, 2.8 lakh rupees will be received for the sum assured. The bonus is 48 rupees for one year per thousand Sum Assured. In this way, the annual bonus for 7 lakh sum assured is Rs 33600. In 20 years, it becomes 6.72 lakh rupees. In this way, on completion of 20 years, he will get a total of 13.72 lakh rupees. However, out of this, he would have got a total of 4.2 lakh rupees in the form of moneyback. On getting the policy maturity, A will get 9 lakh 52 thousand rupees together.

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Bhagyashree Soni
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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