This insurance policy of the post office is very special, the benefit of maturity of 17 lakhs is available at a premium of only Rs 705

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Only people from rural areas can take advantage of the post office’s Gram Suraksha policy. The premium for this policy has to be deposited till the maximum age of 60 years. The maturity benefit is available after the age of 80 years.

In this article, we will learn about such a post office insurance policy, after buying which a person becomes insured for the whole life. Under this plan, the insured is protected till the age of 80 years, while the premium can be paid for a maximum of 60 years. The name of this insurance policy of the post office is Gram Suraksha.

Post Office Gram Suraksha Scheme is also known as Whole Life Assurance. The maturity of this policy is 80 years. During this, if the policyholder dies, then the nominee will get the benefit of maturity. If the policyholder lives for 80 years, then he gets the benefit of maturity. The Government of India has specially prepared it keeping in mind the poor people of rural India.

The minimum entry age for Whole Life Assurance is 19 years and the maximum is 55 years. The minimum amount of sum assured is 10 thousand and the maximum amount is 10 lakh rupees. In this, four premium paying options have been given – 50 years, 55 years, 58 years and 60 years. According to the information available on the Postal Info mobile app, this year India Post has decided to give a bonus of Rs 60 per thousand per annum for this policy.

If one buys post office Gram Suraksha scheme at the age of 19, then the maximum premium paying term will be 41 years. Loan facility is available on completion of four policy years. Policy surrender facility is available after 3 years. Bonus benefit will not be available if the policy is surrendered before five years.

Premium can be deposited both online and offline. If your policy is less than 3 years old, then the policy lapses if the premium is not paid for 6 months. If the policy is more than 3 years old, then the policy lapses if the premium is not paid for 12 months. Medical forms and revival forms have to be submitted in case the policy lapses. The policy gets revived within 5-15 days. This scheme of post office is available only for the people of rural areas. If the premium of the policy is not paid on time, then there is a penalty of Re 1 per month for every Rs 100 premium. There is also a relief in premium on making an advance deposit.

If someone is 19 years of age and buys a sum assured of Rs 5 lakh under Gram Suraksha, according to the information available on the India Post mobile app, the premium is Rs 810 per month for 50 years, Rs 758 for 55 years, Rs 58 for 58 years. 732 for 60 years and Rs 705 for 60 years. The maturity benefit will be Rs 14.30 lakh for 50 years, Rs 15.80 lakh for 55 years, Rs 16.70 lakh for 58 years and Rs 17.30 lakh for 60 years. Maturity benefit is available on completion of 80 years of age.



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