Whole Life Assurance: The reach of insurance in our country is very weak. According to the annual report 2020-21 of insurance regulator IRDAI, insurance in India accounts for only 4.2 percent of GDP. Globally it is 7.4 percent. Insurance penetration is very low, especially in rural India. Keeping this in mind, Rural Postal Life Insurance was started in the year 1995. Went. Its purpose was to bring the people of rural India under the ambit of insurance.
Insurance cover is available up to 80 years Six schemes have been introduced by the post office under Rural Postal Life Insurance (RPLI). Today we will know in detail about one of these Whole Life Assurance. It is also called village security. According to the information available on the India Post website, in this scheme the individual remains insured till the age of 80 years. If he remains alive even after that, then he will get the benefit of his maturity. If he dies in between then the nominee will get the death benefit.
Maximum Sum Assured 10 Lakh
The minimum age limit to take this policy is 19 years and the maximum age limit is 55 years. The maximum sum assured can be 10 lakhs. Loan facility is available after 4 years. There is also a facility to surrender the policy after three years. Bonus will not be available if the policy is surrendered before five years.
50 rupees have to be deposited daily
According to the information available on the India Post mobile app, if the policyholder is 20 years old and enrolls for Whole Life Assurance, the monthly premium for 50 years of maturity will be Rs 1672. The monthly premium for 55 years will be Rs 1568, for 58 years maturity the premium will be Rs 1515 and for 60 years maturity the monthly premium will be Rs 1463. Suppose the policyholder decides to mature the policy at the age of 60 years, then he will have to pay a monthly premium of Rs.1463 for the next 40 years. The daily premium will be around Rs 50.
Know how you will get 34 lakhs?
At present, the annual bonus for this policy is Rs 60 per 1000 sum assured. In such a situation, the annual bonus on the sum assured of 10 lakhs will be 60 thousand rupees. On getting the bonus evenly for the next 40 years, the total bonus amount will be Rs 24 lakh. Maturity This amount will be Rs 34 lakhs which will include the sum assured of 10 lakhs.