Post Office Scheme: The market is flooded with many investment options and the returns offered on many of these schemes are very attractive as well. However, some of these also involve risk. Many investors prefer safe investment schemes with low returns as they are low in risk. If you are also looking for low-risk returns or investment options, then this post office scheme can come in handy for you. This Gram Suraksha Yojana offered by Indian Post is one such option in which you can get good returns with low risk.
Under the Gram Suraksha Yojana, the sum assured along with the bonus goes to the nominee on attaining the age of 80 years or in the event of death, his legal heir, whichever is earlier.
Here are the Terms and Conditions
Any Indian citizen between the age of 19 to 55 years can take this insurance scheme. Whereas the minimum sum insured under this scheme can be invested from Rs 10,000 to Rs 10 lakh. The premium payment of this plan can be done monthly, quarterly, half-yearly or annually. The customer is given a grace period of 30 days to pay the premium. In case of default during the policy term, the customer can pay the pending premiums to revive the policy.
The insurance plan comes with a loan facility which can be availed after four years of policy purchase.
can surrender policy
The customer can choose to surrender the policy after 3 years. However, in that case you will not get any benefit with it. The biggest highlight of the policy is the bonus offered by India Post and the last announced bonus was Rs 65 per annum assured Rs 1,000.
If one buys a Gram Suraksha policy for 10 lakhs at the age of 19 years, the monthly premium will be Rs 1,515 for 55 years, Rs 1,463 for 58 years and Rs 1,411 for 60 years. The policy buyer will get a maturity benefit of Rs 31.60 lakh for 55 years, Rs 33.40 lakh for 58 years. The maturity benefit for 60 years will be Rs 34.60 lakh.
Full information will be found here
In case of any update in the nominee’s name or other details like email id and mobile number, the customer can approach the nearest post office for the same. For other queries, customers can contact the given toll-free helpline 1800 180 5232/155232 or for resolution on the official website i.e. www.postallifeinsurance.gov.in.
Facebook us for social media updates (https://www.facebook.com/moneycontrolhindi/) and Twitter (.) to follow.