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 below
At the end of four years 20 percent
At the end of seven years 20 percent
At the end of ten years 60 percent with bonus
  • Surrender Value is not payable.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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