One can invest in post office scheme between 19 to 45 years. In this, the benefit of bonus including moneyback is also available. In this, the amount is given to the nominee on the death of the insured.
post office scheme
You will get better returns with safety on investment in Gram Sumangal Rural Postal Life Insurance Scheme of the post office. In this, you can get up to 14 lakhs by paying a premium of just Rs 2853 every month. Not only this, you also get the facility of moneyback and bonus in this.
This post office scheme is for the people living in rural areas. In this scheme, you will get the benefit of insurance cover. Also you can get a fixed amount if needed. This scheme was started in 1995. Under this scheme, the post office offers 6 different insurance plans. The minimum age to invest in this scheme should be 19 years and maximum 45 years.
Moneyback benefit on survival of the insured
Under the Gram Sumangal Rural Postal Life Insurance Scheme, if the insured survives till the completion of the policy, then he also gets the benefit of moneyback. In this policy, the minimum sum assured amount is 10 thousand rupees and the maximum amount is 10 lakh rupees. If you take a policy of 15 years, then the insured will get the benefit of 20-20% money back on completion of 6 years, 9 years and 12 years. At the same time, the remaining 40% money including bonus will be given on maturity.
Know when you get the bonus
If the insured dies, the nominee is given the sum assured as well as the bonus amount. If one takes the policy for 20 years, then the investor will be given 20-20 percent money over the tenure of 8 years, 12 years and 16 years. The remaining 40% money will be given on maturity along with bonus.
How to get 14 lakhs
If a person takes a policy for 20 years at the age of 25 and has a sum assured of Rs 7 lakh, then he will have to pay a premium of Rs 2853 every month. Under the policy, 20-20 percent will be available in the 8th, 12th and 16th year. After this, in the 20th year, Rs 2.8 lakh will also be available as sum assured. Apart from this, bonus is also available per thousand rupees. The bonus for the entire policy term i.e. 20 years is Rs 6.72 lakh. If the money back amount is added to this, then it will be Rs 4.2 lakh and the lump sum amount on maturity will be Rs 9.52 lakh. In this way, a total of Rs 13.72 lakh i.e. about Rs 14 lakh will be available in 20 years.
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