Best Rural ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Postal Life Insurance​ Schemes

Best Rural ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Postal Life Insurance​ Schemes

Best Rural ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Postal Life Insurance​ Schemes. Rural Postal Life Insurance (RPLI) was introduced in 24.03.1995 for rural people of India. The Malhotra Committee had observed in 1993 that only 22% of the insurable population in this country had been insured; life insurance funds accounted for only 10% of the gross household savings.

The Government accepted the recommendations of Malhotra Committee and allowed Postal Life Insurance to extend its coverage to the rural areas to transact life insurance business, mainly because of the vast network of Post Offices in the rural areas and low cost of operations. The prime objective of the scheme is to provide insurance cover to the rural public in general and to benefit weaker sections and women workers of rural areas in particular and also to spread insurance awareness among the rural population

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Best Rural ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Postal Life Insurance​ Schemes

Anticipated Endowment Assurance (Gram Sumangal)


It is a Money Back Policy with maximum sum assured of ₹ 10 lacs, best suited to those who need periodical returns. Survival benefits are paid to the insurant periodically. Such payments will not be taken into consideration in the event of unexpected death of the insurant. In such cases, full sum assured with accrued bonus is payable to the assignee, nominee of legal heir.

Policy term: 15 years and 20 years
Minimum age 19 years; maximum age at entry 40 years
Survival benefits paid periodically as under: –
15 years Policy- 20% each on completion of 6 years, 9 years & 12 years and 40% with accrued bonus on maturity

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વિદાય આપનાર અને લેનાર બન્ને માટે


20 years Policy- 20% each on completion of 8 years, 12 years & 16 years and 40% with accrued bonus on maturity
Last declared Bonus- ₹ 45/- per ₹ 1000 sum assured per year

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Best Rural ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Postal Life Insurance​ Schemes

Whole Life Assurance (Gram Suraksha)


This is a scheme where the assured amount with accrued bonus is payable to the insured either on attaining the age of 80 years, or to his/her legal representatives or assignees on death of the insured, whichever occurs earlier, provided the policy is in force on the date of claim.

Minimum & Maximum age at entry: 19-55 years
Minimum Sum Assured ₹ 10,000; Maximum ₹ 10 lac
Loan facility after 4 years
Surrender after 3 years
Not eligible for bonus if surrendered before 5 years


Can be converted into Endowment Assurance Policy upto 59 years of age of the insurant provided the date of conversion does not fall within one year of the date of cessation of premium payment or date of maturity.
Premium paying age can be opted for as 55,58 or 60 years
Proportionate bonus on reduced sum assured is paid if policy is surrendered
Last declared Bonus- ₹ 60/- per ₹ 1000 sum assured per year

Also Read  Pay Your PLI Online

Children Policy (Bal Jeevan Bima)


The salient features of this scheme are as under:.

The scheme provides life insurance cover to children of policy holders
Maximum two children of policy holder (parent) are eligible
Children between 5- 20 years of age are eligible


Maximum sum assured ₹ 1 lac or equal to the sum assured of the parent, whichever is less
Policy holder (parent) should not be over 45 years of age.
No premium to be paid on the Children Policy, on the death of policy holder (parent). Full sum assured and bonus accrued shall be paid on completion of term

Best Rural ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Postal Life Insurance​ Schemes


Policy holder (parent) shall be responsible for payment of Children policy No loan admissible
Has facility for making it paid up, provided premiums are paid continuously for 5 years
Surrender facility is not available


No medical examination of child necessary. However, child should be healthy and risk shall start from day of acceptance of proposal
​Attract the rate of bonus applicable for Endowment policy (Santosh) i.e. last bonus rate is ₹ 48/- per ₹ 1000 sum assured per year.

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Also Know:- Pay Your PLI Online

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