New Delhi: Post Office Scheme: The market is full of many investment options and the returns reported on many of these schemes are also very attractive. 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 scheme of post office can be useful for you. This village security scheme 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 bonus is given 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 premium to revive the policy.
Loan available: 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 assured of Rs 65 per Rs 1,000 per annum.
Maturity Benefit: If one buys a Gram Suraksha policy of 10 lakhs at the age of 19 years. So 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 details to be found here: In case of any update in the name or other details like email id and mobile number of the nominee, 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 the official website i.e. www.postallifeinsurance.gov.in for resolution.
