By investing money in this post office scheme, you can get good returns with less risk. In this scheme, any Indian citizen between the age of 19 to 55 years can invest a minimum investment of Rs 10,000 to Rs 10 lakh.
Post Office Scheme: There are many investment options available in the market at this time. Attractive returns are being claimed on many of these schemes. However, some of them also have very high risk rates. Many investors prefer less profitable but safe investment plans. In fact, they have less risk. However, in some investment schemes, along with getting good returns, the risk is also low. If you are also looking for such investment option, then this post office scheme can come in handy for you.
Indian Post’s Gram Suraksha Yojana is one such investment option, in which good returns can be found in low risk. Under the Gram Suraksha Yojana, the sum assured along with bonus is received either at the age of 80 years or on death by the legal heir or the nominee.
Scheme Terms and Conditions
Any Indian citizen between the age group of 19 to 55 years can invest in the Gram Suraksha Yojana. Under this scheme, a minimum investment of Rs 10,000 to Rs 10 lakh can be made. The premium payment of this plan can be done on monthly, quarterly, half yearly or yearly basis. The customer is also given a 30-day grace period for premium payment. In case of default during the policy term, the customer can pay the pending premium to revive the policy.
When can you surrender?
The customer can surrender the policy after 3 years. However, in that case he will not get any benefit with it. The biggest highlight of the policy is the bonus offered by India Post. Under the last announcement, an assured bonus of Rs 65 per Rs 1,000 per annum was assured. The insurance plan comes with a loan facility, which can be availed after 4 years of policy purchase. In simple words, the policyholder can take a loan on it after 4 years.
Benefits on Maturity
If one buys a Gram Suraksha policy for 10 lakhs at the age of 19 years, then the monthly premium for 55 years will be Rs 1515, for 58 years Rs 1463 and for 60 years Rs 1411. The policy buyer will get a maturity benefit of Rs 31.60 lakh for 55 years, Rs 33.40 lakh for 58 years. At the same time, the maturity benefit for 60 years will be Rs 34.60 lakh.
Where will you get the information?
The nominee can contact the nearest post office to update the details like name or e-mail id and mobile number. For other queries, customers can contact toll free helpline 1800 180 5232/155232 or on official website www.postallifeinsurance.gov.in.