Post Office Scheme – Get 14 Lakh Via Investing 95 Rs – Best Post Office Scheme – Post Office Scheme 2023
The Gram Sumangal Rural Post Office Scheme is a life insurance policy that was introduced by the Government of India in 1995. The scheme is designed to provide financial security to rural families in the event of the death of the breadwinner. The policy also provides a lump sum payment at maturity, which can be used for retirement or other financial needs.
The Gram Sumangal Rural Post Office Scheme is open to all Indian citizens who are between the ages of 19 and 55. The minimum sum assured is ₹10,000 and the maximum sum assured is ₹10 lakh. The policy can be taken for a term of 10, 15, 20, or 25 years.
The premium for the Gram Sumangal Rural Post Office Scheme is payable annually. The premium amount is calculated based on the sum assured, the term of the policy, and the age of the insured. The premium is affordable for most rural families.
The benefits of the Gram Sumangal Rural Post Office Scheme include:
- Financial security in the event of death: If the insured person dies during the term of the policy, the nominee will receive the sum assured, plus any accrued bonuses.
- Lump sum payment at maturity: At the end of the term of the policy, the insured person will receive the sum assured, plus any accrued bonuses.
- Tax benefits: The premiums paid for the Gram Sumangal Rural Post Office Scheme are eligible for tax deductions under Section 80C of the Income Tax Act, 1961.
If you invest ₹95 per day in the Gram Sumangal Rural Post Office Scheme, you will get ₹14 lakh at maturity. This is assuming that you take the policy for a term of 25 years and the sum assured is ₹10 lakh.
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The table below shows the amount of money you will receive at maturity for different terms and sum assured:
| Term (years) | Sum assured (₹) | Maturity amount (₹) |
|---|---|---|
| 10 | 10,000 | 3,51,000 |
| 15 | 10,000 | 5,26,500 |
| 20 | 10,000 | 7,18,750 |
| 25 | 10,000 | 9,28,750 |
As you can see, the amount of money you receive at maturity increases with the term of the policy and the sum assured.
The Gram Sumangal Rural Post Office Scheme is a good option for rural families who are looking for a secure and affordable life insurance policy. The policy provides financial security in the event of death and a lump sum payment at maturity. The premiums are affordable and the policy is eligible for tax deductions.
If you are considering investing in the Gram Sumangal Rural Post Office Scheme, I recommend that you speak to a financial advisor to get more information and to find out if the policy is right for you.
Here are some additional things to keep in mind when considering the Gram Sumangal Rural Post Office Scheme:
- The interest rate on the policy is guaranteed for the first five years. After that, the interest rate is linked to the government’s market-linked deposit scheme.
- The policy is non-transferable. This means that you cannot sell the policy to someone else.
- The policy is not eligible for partial withdrawals. You can only withdraw the entire amount of money at maturity.
If you are looking for a life insurance policy with more flexibility, you may want to consider a different policy. However, if you are looking for a secure and affordable policy that provides financial security in the event of death, the Gram Sumangal Rural Post Office Scheme is a good option.
-> The scheme provides life insurance cover along with investment to the rural people.
-> The benefit of the scheme is that if you keep Rs 95 per day, you can increase it to Rs 14 lakhs over time.
-> Gram Sumangal is a scheme under Rural Postal Life Insurance Scheme.
-> The project duration is 15 years to 20 years
-> A person can join the scheme at the age of 19 years.
-> The upper age limit for joining the 20 year scheme is 40 years.
-> A 15-year policy can be subscribed to by those aged up to 45 years.
-> Bonus is allowed at the rate of Rs 45 per thousand rupees per year.
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