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Gram Suraksha Rural Postal Life Insurance Scheme

This is a whole life insurance plan under Postal Life Insurance Scheme which provides a maximum sum assured of Rs.1 lakh and also offers the insured to opt for loan, surrender, and conversion.
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RPLI is the only insurer who gives bonuses and the premium charged is low. The schemes offered by RPLI is to attract the people in rural areas to invest in life insurance schemes. Gram Suraksha Rural Postal Life Insurance Scheme is a whole life assurance plan. The maximum sum assured is Rs.1 lakh. Apart from this the insured can opt for loan, conversion and surrender. The policy can be easily transferred anywhere in India to any of the post offices. Tax benefits are also available with this scheme.

Eligibility Criteria for Gram Suraksha Rural Postal Life Insurance Scheme

The scheme can be taken by:

  • Central and state Government employees.
  • Departmental agents
  • Defence service
  • Industrial workers
  • Government aided educational institution and Universities
  • Mahanagar Palika
  • Zila Parisad
  • Municipalities
  • Nationalised banks
  • RBI or SBI Subsidiaries
  • Central and state government undertakings, boards, corporations, organisations and financial institutions.
Minimum Entry Age 19 years
Maximum Entry Age 45 years
Maximum age at Maturity 55, 58 and 60 years

Key Features of Gram Suraksha Rural Postal Life Insurance Scheme

The key features of this scheme are as follows:

Plan type Whole Life Assurance plan.
Plan basis Single
Sum assured Maximum – Rs.1 lakh
Premium payment term The premium can be paid on a monthly, quarterly, half yearly or on annually.
Benefits Death benefit: Death benefit is offered to the nominee if the insured dies during the policy term. Maturity benefit: On maturity, the insured received sum assured and bonuses that have been accrued.
Bonus High bonuses are offered by RPLI.
Medical If you do not wish to have a medical check, then the maximum sum assured offered is Rs.25,000 and the maximum age for entry is 35 years.
Policy revival Policy can be revived after paying the unpaid premiums.
Nomination Nomination facility is available.
Surrender Policy can be surrendered after paying premiums for 36 months.
Conversion Policy can be converted to Endowment Assurance – Gram Santosh
Free look period There is no free look period.
Grace period 30 days grace period is offered for paying the premiums due.
Loan Insured is eligible for loan after paying premiums for 48 months. The interest rate on loan is 10%.
Tax benefit Tax benefit under Section 80C and Section 88 can be availed under the Income Tax Act, 1961.

Benefits of Gram Suraksha Rural Postal Life Insurance Scheme

The following are the benefits of taking this scheme:

  • The scheme offers death and maturity benefits.
  • Tax benefits are available under Section 80C and Section 88 of the Income Tax Act, 1961.
  • Insured can also take a loan against the policy after having paid premiums for 48 months.
  • The policy can be converted to Endowment Assurance.
  • The policy can be surrendered after paying 36 premiums.
  • Policy revival is also allowed.
  • High bonuses are offered.
  • The policy can be transferred to any post office to any part of India.

How Gram Suraksha Rural Postal Life Insurance Scheme Works

Gram Suraksha Rural Postal Life Insurance Scheme is a Whole Life Assurance plan. The plan is to be in force for the insured’s entire lifetime. The insured can pay premiums throughout his lifetime or till the date as preferred by the insured. On survival, the insured will receive maturity benefit and if he dies during the policy term, then the nominee will receive the death benefit. Maximum sum assured is Rs.1 lakh.

Premiums Payable for Gram Suraksha Rural Postal Life Insurance Scheme

The premium amounts are based on the health and financial situation of the insured. The premiums will be lower if the health conditions are good.

Riders

There are no riders available with Gram Suraksha Rural Postal Life Insurance Scheme.

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

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Gram Suraksha Rural Postal Life Insurance Scheme Reviews

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  • LIC Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have purchased JEEVAN ANAND and using from last 10yrs, maturity is for long term of 22yrs, coverage for self and spouse. The premium paying for annual once. The life coverage is applicable after the maturity. The reason for getting the policy it is a traditional and security purpose.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 23, 2019
  • LIC
    LIC Life Insurance
    "Medium"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in LIC before 6 months back. The policy is for 20 years. I am paying premium in the monthly package. While getting a policy my agent has given an information about the policy details. They use to detect in a salary account for the payment
    Was this review helpful? 0
    , raichur
    Reviewed on Jun 23, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in LIC 15 years back. The policy is for 20 years. I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details and provided documents as well. I use to payments through an online.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 23, 2019
  • HDFC Life Life Insurance
    "Unhappy with the service"
    0.5 2.0/5 "Expected more"
    I purchased another ULIP policy from HDFC Life. I had to pay a premium on a yearly basis. After I bought the policy, I did not get much of benefits. There were a lot of charges as well, so I surrendered the policy. To surrender the policy I had to visit the bank and give a canceled cheque and got back my investment.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 23, 2019
  • LIC Life Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    Jeevan anand plan using for the 4th year where the maturity period is for long term of 21years. The premium paying for yearly once. Coverage is for self, the coverage is for accidental policy. Premium paying for 7.2L per annum. Sum assured is for 1.75C approx.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 23, 2019
  • HDFC Life Life Insurance
    "Average"
    0.5 3.0/5 "Satisfactory"
    I have taken a ULIP policy from HDFC Life. I am satisfied with this policy benefits. I bought this policy online. I pay a premium on a monthly basis. There is a lock in period of three years. The payments can be done online. In all no hassles with policy.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 23, 2019
  • LIC Life Insurance
    "Good"
    0.5 3.5/5 "Pretty good"
    I have taken a life insurance in LIC for more than a year ago. The policy is for 15 years. I am paying premium in the annual package. While getting a policy my agent has given an information about the policy details and provided hard copy documents as well. I do payments either through an online or I provide cheque to an agent.
    Was this review helpful? 0
    , varanasi
    Reviewed on Jun 23, 2019
  • LIC Life Insurance
    "Good"
    0.5 3.5/5 "Pretty good"
    I have taken a life insurance in LIC for more than a year ago. The policy is for 16 years. I am paying premium in the half yearly package. While getting a policy my agent has given an information about the policy details and provided the hard copy documents as well.
    Was this review helpful? 0
    , varanasi
    Reviewed on Jun 23, 2019
  • LIC Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    The reason for taking the policy is because of security purpose. I am not aware of the name of the policy but using this from last 10 years, it gives the coverage for self. The premium paying for yearly basis of 25K and the maturity period is for 10 years of short term policy. There is a accidental coverage with this policy.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jun 23, 2019
  • LIC Life Insurance
    "Good"
    0.5 3.5/5 "Pretty good"
    I have taken a life insurance in LIC for nine years ago. The policy is for 20 years. I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details. I use to do payments through an online.
    Was this review helpful? 0
    , varanasi
    Reviewed on Jun 23, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    My endowment was taken from LIC. This policy covers for high risk with a low premium amount. Total term period is 15 years. I have purchased the policy in 2013. Total coverage value is Rs. 20 lakhs and this is a tax benefit policy. I pay the premium amount of Rs. 70000.
    Was this review helpful? 0
    , tirupur
    Reviewed on Jun 23, 2019
  • LIC Life Insurance
    "Best Policy"
    0.5 5.0/5 "Blown Away!"
    Because of the best support and service i have chosen the LIC. I have purchased my money back policy in the year of 2013. I have been paying the premium of Rs. 40000. I directly visit the LIC branch to pay the premium. The staffs are giving me proper response.
    Was this review helpful? 0
    , tirupur
    Reviewed on Jun 23, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in LIC before 4 years ago. The policy is for 20 years. I am paying premium in the quarterly package. While getting a policy my agent has given an information about the policy details. I use to do payments through an online.
    Was this review helpful? 0
    , pune
    Reviewed on Jun 22, 2019
  • LIC Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I am holding 5policies with LIC, one is money back and the rest of the policies are long term. I never contacted the customer service. The benefits are good. I am doing monthly premium for one policy and other is yearly, rest have done one time premium. It was taken for tax benefits and savings.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jun 22, 2019
  • Future Generali Life Life Insurance
    "Average Policy"
    0.5 3.0/5 "Satisfactory"
    My endowment plan was taken from Future Generali. I have chosen this company because someone has recommended me. I have been paying the premium amount of Rs. 11000 every year. The coverage value is Rs. 2.5 lakhs. Total term period of the policy is 20 years. This is tax benefitable policy.
    Was this review helpful? 0
    , visakhapatnam
    Reviewed on Jun 22, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 3.0/5 "Satisfactory"
    I have taken a life insurance in LIC before 7 years back. The policy is for life long. I am paying premium in the monthly package. While getting a policy my agent has given an information about the policy details and provided documents as well. For a payment they use to detect from my salary account.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 22, 2019
  • LIC Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    The MONEY BACK plan has been taken with the LIFE INSURANCE CORPORATION OF INDIA where the policy has the maturity period of long term added on that the maturity period of long term. I ma yet to get my first money back of 20K within 2 months in this policy.
    Was this review helpful? 0
    , warangal
    Reviewed on Jun 22, 2019
  • LIC Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I am holding 5policies with LIC, one is money back and the rest of the policies are long term. I never contacted the customer service. The benefits are good. I am doing monthly premium for one policy and other is yearly, rest have done one time premium. It was taken for tax benefits and savings.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jun 22, 2019
  • LIC Life Insurance
    "GOOD POLICY"
    0.5 5.0/5 "Blown Away!"
    I have purchased life insurance policy with LIFE INSURANCE CORPORATION OF INDIA and the name of the policy is JEEVAN ANAND plan where it has the maturity period of 16 years also the coverage is for self. The executive collected the denouement at doorsteps.
    Was this review helpful? 0
    , warangal
    Reviewed on Jun 22, 2019
  • LIC Life Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in LIC before 3 years ago. The policy is for 16 years. I am paying premium in the quarterly package. While getting a policy my agent has given an information about the policy details and provided documents as well. I use to do payments through an online.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Jun 22, 2019
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