As the post office is government, people believe in it.
Mumbai: If people want to get insurance, they think about which company to take it from so that you can get good returns and you will not be cheated. As the post office is a government, people believe in it.
So today we are going to tell you about Post Office Insurance Policy. After taking which a person becomes insured for the whole life. Under this plan, the insured is covered till the age of 80, while the premium can be paid for a maximum of 60 years. The name of this post office insurance policy is Gram Suraksha.
The Post Office Village Security Scheme is also known as Life Assurance. The maturity of this policy is 80 years. If the policyholder dies during this period, his nominee will get maturity benefit. If the policyholder lives 80 years, he gets the benefit of maturity.
The Government of India has specially designed it with the poor people of rural India in mind. The minimum entry age for a full life guarantee is 19 years and the maximum is 55 years. The minimum sum assured is Rs 10,000 and the maximum is Rs 10 lakh.
It offers four options for paying premiums – 50 years, 55 years, 58 years and 60 years. According to information available on the Postal Info mobile app, this year India Post has decided to pay a bonus of Rs 60 per thousand for this policy.
If one purchases a Post Office Village Security Plan at the age of 19, the maximum period for payment of premium will be 41 years. The loan facility is available on completion of four policy years. Policy Surrender facility is available after 3 years. If the policy is surrendered five years ago, there will be no bonus benefit.
Premium can be deposited both online and offline. If your policy is less than 3 years old, the policy expires if you do not pay the premium for 6 months. If the policy is older than 3 years, the policy expires if the premium is not paid for 12 months.