Gram Priya Rural Postal Life Insurance Scheme
This plan was started in 1993 as a recommendation by the Malhotra Committee to improve the insurance scenario in India as only 22% of the total population was insured. Today this plan has extended its coverage to various rural areas in India.
The RPLI or Rural Postal Life Insurance was started as an upshot to recommendations of the Malhotra Committee. In the year 1993, it was observed by the Committee that 22 percent of the total insurable population are insured in this country.
The recommendations of the Malhotra Committee were accepted by the Government and Postal Life Insurance was allowed to extend their coverage to the different rural sectors.
Eligibility Conditions for GRAM PRIYA Rural Postal Life Insurance
Employees who are eligible | Salaried Professionals |
Minimum Entry Age | 19 years |
Maximum Entry Age | 45 years |
Key Features of GRAM PRIYA Rural Postal Life Insurance
Commencement of Insurance | The insurance coverage starts from the acceptance date |
Minimum Assured Sum | Rs. 10,000 |
Maximum Assured Sum | Rs. 5,00,000 |
Nomination Facility | Available |
Assignment Facility | Available |
Benefits / Advantages of GRAM PRIYA Rural Postal Life Insurance
- In case of natural calamities like flood, earthquake, cyclone, drought, etc. no interest will be charges till 1 year arrear of premia.
- The amount payable as survival benefit is given belowAt the end of four years20 percentAt the end of seven years20 percentAt the end of ten years60 percent with bonus
- Surrender Value is not payable.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017
Disclaimer
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2025 BankBazaar.com.