If you want to invest , as well as take money cashback along with a large amount, then for this you have to invest in Gram Sumangal Rural Postal Life Insurance of the post office . You can invest Rs 95 per day under this policy. With cashback on this, you can get close to 14 lakhs that too in 20 years.
What is Gram Sumangal Rural Postal Life Insurance Policy?
This is a post office endowment plan, which is for 15 to 20 years. In this, 3 cashback is available before the maturity of the policy, as well as the remaining amount including bonus on maturity for the fourth time. Explain that the Government of India had started the Rural Postal Life Insurance Scheme in the year 1995. If a person is still alive after the maturity of the policy , then the money back benefit is given to him. If a person dies, in this case the policyholder is given the sum assured as well as the bonus amount.
- Who can take the policy?
- Any Indian citizen can take advantage of this.
- The minimum age for this has been fixed at 19 years and maximum 45 years.
- The benefit of this policy can be taken for 15 to 20 years.
- To take a 20 year policy , the age of the holder should not be more than 40.
- The maximum sum assured is Rs 20 lakh.
Know the math of policy
If a person of the age of 25 years wants to take a policy , then the monthly premium will be Rs 2853 for the policy term of 20 years with a sum assured of Rs 7 lakh . This means that Rs 95 will have to be invested daily. During this, in the 8th, 12th and 16th years, 20 percent of the sum assured will be available as cashback. This means that 1 lakh 40 thousand rupees will be available.
In this way a cashback of Rs 4,20000 will be available. With the remaining amount i.e. Rs 2,80,000, about Rs 6,72,000 will be given as bonus. In this way the total amount will be around 14 lakhs.
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