Postal Life Insurance Schemes-(SURAKSHA)

A whole Life Insurance Scheme:

  • Minimum Age at entry is 19 years.
  • Maximum Age at entry is 55 years.
  • Premia ceasing at the age of 55,58,60.(Minimum payment of premia for 5 years)
  • Meturity amount is payable only to the Assignee,nominee or the legal heir after death of the insurant.Maximum sum Assured is INR 20 lakhs.
  • Insurance cover starts from the date of acceptance of proposal to the extent of sum assured with accured bonus.
  • Bonus shall accure till the date of maturity.
  • Higher bonus and lower premia than the endowment policy.
  • Eligible for loan after payment of premia for 48 months.
  • Surrender of policy allowed after payment of premia for 36 months.Bonus is payble onsurrender value on payment of premium for 5 years(60 months) or more.
  • Assignment policy available.
  • The policy can be converted into Endowment Assurance Policy after completion of one year and before 57 years of age of the insurant.
  • Nomination facility available.