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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
    "Medium"
    0.5 3.0/5 "Satisfactory"
    One month before I have taken a personal loan so they made to take life insurance with LIC company. On one payment need to do fully. In case if we missed to do payment or for some other reason unable to do from insurance they will claim full amount. Myself applicable for 10 lakhs but taken for 5.5 lakhs.
    Was this review helpful? 0
    , pondicherry
    Reviewed on Oct 14, 2019
  • LIC
    LIC Life Insurance
    "Good insurer"
    0.5 3.0/5 "Satisfactory"
    I have taken a life insurance in LIFE INSURANCE CORPORATION OF INDIA on one year before. I am paying premium in the quarterly package for the amount of 2065 rupees.While getting a policy my agent has given an information about the policy details. It covers my mother only.
    Was this review helpful? 0
    , pondicherry
    Reviewed on Oct 14, 2019
  • LIC Life Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I have taken Life Insurance policy through LIC agent.This is a Money back policy and this tenure is for 25 years,I am paying the premium on monthly basis.I am paying Rs.2168 and paying the premium through online only .I have got the policy documents on time .I am really satisfied with the service so far.
    Was this review helpful? 0
    , tirupur
    Reviewed on Oct 14, 2019
  • ICICI Prudential Life Insurance
    "Average"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in ICICI PRUDENTIAL on 6 months before. The policy is for 15 years. Now I am paying premium for 25 thousands rupees. While getting a policy my agent has given an information about the policy details, however there are some charges applicable.
    Was this review helpful? 0
    , saharsa
    Reviewed on Oct 14, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in LIC on 1 year before. The policy is for 20 years. I am paying premium on monthly package. While getting a policy my agent has given an information about the policy details. It covers myself. The amount will get auto debit from my account. It is jeevan anadha policy.
    Was this review helpful? 0
    , saharsa
    Reviewed on Oct 14, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 3.0/5 "Satisfactory"
    I have taken a life insurance in LIFE INSURANCE CORPORATION OF INDIA on 8 years before. The policy is for 20 years. It is a jeevan anadha policy. I am paying premium in the yearly package paying for 12 thousands. While getting a policy my agent has given an information about the policy details. It covers up to myself.
    Was this review helpful? 0
    , erode
    Reviewed on Oct 14, 2019
  • SBI Life Life Insurance
    "Fine Policy"
    0.5 5.0/5 "Blown Away!"
    My friend has suggested me a money back from SBI LIFE. I got the policy 2 years before. I have been paying the premium amount of Rs. 7000 for every six months. I make the premium through ECS. Just for the savings purpose, i bought this policy.
    Was this review helpful? 0
    , dindigul
    Reviewed on Oct 14, 2019
  • Bajaj Allianz Life Life Insurance
    "Fine Policy"
    0.5 5.0/5 "Blown Away!"
    One of my asked me to join in a Bajaj allianz life insurance policy. This is also money back policy. I pay the premium amount of Rs. 5000 and i have chosen the quarterly payment mode. I bought the policy 8 years back. Once the amount got credited to my account.
    Was this review helpful? 0
    , dindigul
    Reviewed on Oct 14, 2019
  • LIC Life Insurance
    "Excellent Policy"
    0.5 5.0/5 "Blown Away!"
    There is no reason for choosing the life insurance policy from LIC. I hold a money back policy because every 5 years, i get the full money back to my account. I have been paying the premium amount of Rs. 1500 every month. I have no idea about the sum assured amount and the policy has a term of 15 years.
    Was this review helpful? 0
    , dindigul
    Reviewed on Oct 14, 2019
  • Exide Life Insurance
    "Good term policy"
    0.5 4.0/5 "Great!"
    I have chosen the life insurance policy from Exide because its easy approved term policy which covers Rs. 30 lakhs for any type of death. Its covers for both life and accidental. I have been paying the premium amount of Rs. 10,200 and i have chosen the yearly payment mode. This policy covers upto 52 years of my age.
    Was this review helpful? 0
    , gudivada
    Reviewed on Oct 13, 2019
  • LIC Life Insurance
    "Good Service"
    0.5 3.0/5 "Satisfactory"
    I have Life Insurance policy which was directly taken through LIC agent .This policy tenure is for 15 years and i am paying the premium within 6 months .I have got all the details about the insurance policy very clearly through the agent and paying the premium through agent.I am really satisfied with the service so far.
    Was this review helpful? 0
    , erode
    Reviewed on Oct 13, 2019
  • LIC Life Insurance
    "Believable policy"
    0.5 4.0/5 "Great!"
    I bought the life insurance policy from LIC because we all believe in LIC and its undertaken by the Government. I bought the jeevan Anand policy. I am paying the premium amount of Rs. 1599 for every quarter. They are providing the sum assured amount of Rs. 2 lakhs. The policy term is 20 years.
    Was this review helpful? 0
    , bikaner
    Reviewed on Oct 13, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 3.0/5 "Satisfactory"
    I had taken a life insurance in LIC on 21 years before. The policy is for 15 years. I was paying premium on monthly package for the amount of 800 rupees. While getting a policy my agent has given an information about the policy details. I closed the policy and settled the amount on time.
    Was this review helpful? 0
    , tirupur
    Reviewed on Oct 13, 2019
  • Shriram Life Life Insurance
    "Need to decrease charges"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in SHRIRAM LIFE on 3 months before. The policy is for 10 years. I am paying premium in the yearly package of 15 thousands. There is some additional charges of 4.5% for GST. While getting a policy my agent has given an information about the policy details. It covers my whole family.
    Was this review helpful? 0
    , dharmapuri
    Reviewed on Oct 12, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in LIC on 2 years before. The policy is for 20 years. I am paying premium in the quarterly package. While getting a policy my dad is an agent has given an information about the policy details. It is a jeevan anadha policy scheme. It covers up to myself.
    Was this review helpful? 0
    , mangalore
    Reviewed on Oct 12, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 5.0/5 "Blown Away!"
    On 7 years before I had taken a life insurance in LIFE INSURANCE CORPORATION OF INDIA. The policy is for 18 years. I am paying premium on yearly basis for the amount of 7 thousands. While getting a policy my agent has given an information about the policy details and provided documents as well. I use to do payment by providing cash to an agent.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Oct 12, 2019
  • LIC Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I have a life insurance with LIC and it was purchased before 3 to 4 years. The policy called JEEVAN ANAND with the tenure of 21years. I am paying 1547rupees annually through cheque to the LIC agent. I am happy with the benefits. It was taken for savings.
    Was this review helpful? 1
    , jalgaon
    Reviewed on Oct 11, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in LIC on 7 years before. The policy is for 20 years and it is a jeevan anadha. I am paying premium in the half yearly package. While getting a policy my agent has given an information about the policy details. I use to do payment through online.
    Was this review helpful? 0
    , bangalore
    Reviewed on Oct 10, 2019
  • HDFC Life Life Insurance
    "Better Policy"
    0.5 5.0/5 "Blown Away!"
    From my HDFC LIFE, i have taken my life insurance. The executive came to my place and informed me about the policy details and gave me some offer since it was good, i have selected them. I have been paying the premium amount of Rs. 2500 per month. The policy term is 15 years. I am not sure about the sum assured amount.
    Was this review helpful? 0
    , bangalore
    Reviewed on Oct 10, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    For the family purpose, i had chosen the Life insurance policy. For the savings purpose, i have selected the LIC company. I am paying the premium amount of Rs. 30000 on a annual fee. I'm satisfied with the sum assured amount. Since my uncle is working as a LIC agent, he referred me about this policy.
    Was this review helpful? 0
    , dindigul
    Reviewed on Oct 10, 2019
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