Rural Postal Life Insurance Scheme(Gram Suvidha)
This is a convertible whole life insurance scheme.
- Insurance cover starts from the date of acceptance.
- Minimum age at entry is 19 years.
- Maximum age at entry is 45 years.
- Premia ceasing at the age of 55,58 & 60 (Payment of premia for at least 5 years)
- Maximum sum assured INR 5 lakh.
- Eligible for loan after payment for 48 months .
- Interest on loan @ 10 %.,half yearly compounded.
- Surrender of policy allowed after payment of premia for 36 months.
- Bonus is payble on surrender valueon payment of premium for 5 years and more.
- Assignment facility available.
- Can be converted into Gram Santosh (Endowment Assurance after 5 years with premia ceasing at the age applocable to that scheme)
- Nomination facility available.