There are a lot of schemes for investments but the Post office schemes are considered the best scheme to invest in the market since they are safe and give guaranteed returns.
Today we will talk about Gram Sumangal Rural Postal Life Insurance Scheme wherein you can invest for a huge profit in future. This is an endowment scheme, which provides money back as well as the insurance cover to people, who are living in the rural area.
Another great thing about this scheme is that if you invest Rs 95 in it on a daily basis, then you can get Rs 14 lakh by the end of the scheme. The Rural Postal Life Insurance Scheme was started in the year 1996. Under this scheme, the post office offers 6 types of different insurance plans.
The policy benefits the people, who need money from time to time. A maximum sum of Rs 10 lakh is assured as a return in Gram Sumangal Yojana. In case the person, who owns the policy suddenly, dies, then the nominee is given the sum assured along with the bonus amount. This policy can be availed for 2 tenures & it includes 15 years & 20 years. The minimum age for this policy is 19 years.
In a 15 years policy, 20-20% money back is available on the completion of a 6 years, 9 years & 12 years. At the same time, the remaining 40% money will be given including the bonus on a maturity. Similarly in the 20 year policy, 20-20% of money is available on the terms of 8 years, 12 years & 16 years. The remaining 40% money will be given on a maturity accompanied with bonus.
In terms of premium of the policy, if a 25 years old person takes this policy for 20 years with a sum assured of Rs 6 lakh, and then the person will have to pay a premium of Rs 2,853 each month, which means about Rs 95 on a daily basis. The quarterly premium will be Rs 8,449 & half-yearly premium will be Rs 16,715 & the annual premium will be Rs 32,735.
The policy allows the payment of Rs 1.4-1.4 lakhs in the 8th, 12th & 16th year at the rate of 20-20%. A sum of Rs 2.8 lakh will be available in the 20th year. When the annual bonus per thousand is Rs 48, then the annual bonus on sum assured of Rs 7 lakh is Rs 33,600.
The entire policy term offers the bonus of Rs 6.72 lakh. The policy offers the total sum assured of Rs 13.72 lakh in 20 years. Out of this, Rs 4.2 lakh will be already available as money back & Rs 9.52 lakh will be given together on a maturity. Also check out another scheme of Post Office Saving Scheme, where you can earn huge profit by investing very little.
