New Delhi: Investment in today's time calls for careful financial planning. Are you also wondering to know about the investment scheme? No doubt, you are in search of a scheme from which you can get safe, secure, and maximum return. Here's the right destination for your curiosity.Here you are going to know details about a moneyback plan scheme of the post office. The name of the policy is Gram Sumangal which is also known as Anticipated Endowment Assurance Plan. It comes under RPLI i.e. Rural Postal Life Insurance category. The maximum sum assured for the Gram Sumangal scheme is Rs 10 lakh.
Under the scheme, the insured individual gets the benefit of money back as a survival benefit. When the insured individual dies, the nominee will get the benefit of the sum assured and the bonus.
The minimum age limit is 19 years and the maximum is 40 years.
Policy term period
The policy term of this plan is 15 years and 20 years.
A benefit to the policyholder
If the policyholder pays a premium for 15 years, he gets 20-20 percent of the sum assured in the 6th, 9th, and 12th years. On maturity of the policy, 40 percent of the Sum Assured and the Total Bonus are available together.
How to avail the benefit of Money back
If an individual has opted for a policy term for 20 years, he will get 20-20 percent of the sum assured in the 8th, 12th, and 16th years. On completion of 20 years, 40 percent of the sum assured will be available along with the total bonus. The policy term and premium paying term are the same for this scheme.
At present, an annual bonus of Rs 45 per thousand sums assured is issued by India Post. Accordingly, the annual bonus on the sum assured of 1 lakh will be Rs 4500.
The policy term for 20 years
If you buy a policy at the age of 25 years. You buy a sum assured of 10 lakhs for yourself. If you keep the policy term for 15 years, the Net Monthly Premium will be Rs.6793. If the policy term is kept for 20 years then the monthly premium will be Rs 5121.
The bonus amount for the premium term of 15 years will be Rs 6.75 lakhs. If the premium term is 20 years, the bonus amount will be Rs.9 lakh. Since the sum assured is Rs 10 lakh, the total benefit after 15 years will be Rs 16.75 lakh. After 20 years, the total maturity amount will be Rs 19 lakh