Postbank has developed a program for all those who are looking for a way to earn a lot of money with a small part of their income.
Under the Post’s Gram Sumangal Rural Postal Life Insurance Scheme, a bank customer must invest 95 rupees per day to get 14 lakh rupees back over time.
‘Gram Sumangal Rural Postal Life Insurance Scheme’ is a foundation plan that provides a fixed amount of money, money back and insurance coverage for anyone who has a bank account at the post office in rural areas at the end of the term.
This scheme is beneficial for all people who need money from time to time. With this scheme, money back is available three times before the due date. Under this scheme, customers are offered the maximum sum insured of Rs 10 lakh.
This system is one of the five rural postal life insurance systems established by the Government of India in 1995.
The Gram Sumangal Scheme is available for two terms of 15 years and 20 years. The minimum age for taking out these policies is 19 years. The maximum age for taking out the 15-year policy is 45 years, while the maximum age for the 20-year policy is 40 years.
With the 15-year policy, a bank customer receives 20 percent of the total sum insured as money back after 6, 9 and 12 years. The remaining 40 percent of the money, including the bonus, is paid out to the customer when it is due.
In the 20-year policy, the bank user receives 20 percent money after 8 years, 12 years and 16 years. The remaining 40 percent of the money is given to customers with a bonus when due.
If a 25 year old bank customer takes out this policy for 20 years with a sum insured of Rs 7 lakh, they will have a premium of Rs 2,853 per month, which is approximately Rs 95 per day.
The customer receives Rs 1.4-1.4 lakh in the 8th, 12th and 16th years. At the end of the 20th year he / she will receive Rs 2.8 lakh as the sum insured.
Under this scheme, the annual bonus per thousand is Rs 48, and thus the annual bonus on the insured sum of Rs 7 lakh is Rs 33,600. The bonus for 20 years is Rs 6.72 lakh. The customer will have a total return of Rs 13.72 lakh in 20 years. Of this, Rs 4.2 lakh will be returned as cash and Rs 9.52 lakh will be paid out when due.
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