Earn lakhs with Gram Suraksha Scheme | Fusion - WeRIndia

Earn lakhs with Gram Suraksha Scheme

Earn lakhs with Gram Suraksha Scheme

Gram Suraksha is one of the policies offered under the Rural Postal Life Insurance Scheme. This whole life assurance scheme targeted rural people, especially the weaker sections and women workers of rural areas.

India Post launched the Rural postal life insurance scheme in 1995 as per the recommendations of the Malhotra Committee. This insurance scheme aims to create awareness of insurance in rural people.

The Rural Postal Life Insurance Scheme offers different types of policies. Gram Suraksha is one of those policies offered by the India Post.

Here are some important things to know about Gram Suraksha Scheme:


  • The minimum age of entry for this policy is 19 years, while the maximum age of entry is 55 years. A nomination facility is available.
  • The minimum sum assured is ₹20,000, and the maximum amount is ₹10 lakhs.
  • The assured amount with accrued bonus is payable to the policyholder on attaining the age of 80 years. In the event of their death, their nominee or legal representatives will receive the sum assured. However, the policy should be in force at the time of claim.
  • Policyholders can opt for their premium paying age as 55, 58 or 60 years.
  • There is no free look period for this policy. If an investor starts investing early in the scheme, he/she can yield maximum returns.
  • Policyholders can also obtain a loan on the policy after four years.
  • The policy can be converted into Endowment Assurance Policy after five years. Also, the Insured is eligible to receive a bonus.
  • Policyholders can surrender the policy after three years. However, if the policy is surrendered before five years, they will not be eligible for the bonus.
  • The last declared bonus is ₹50, for every ₹1,000 of sum assured per year. If the policy is surrendered after the specified time, policyholders are entitled to receive a proportionate bonus on the reduced sum assured.

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Image Reference: https://pixabay.com/photos/insurance-family-umbrella-house-5238829/

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