Gram Suraksha Rural Postal Life Insurance Scheme

The key features of this scheme are as follows:

Benefits of Gram Suraksha Rural Postal Life Insurance Scheme

The following are the benefits of taking this scheme:

1. Maturity Benefit: If the policyholder survives till the maturity date of the insurance policy, then they should claim the complete maturity benefit amount along with the applicable bonuses.

1. Death Benefit: Upon the death of the insured at any point during their lifetime, the family members or the nominee of the policyholder will get the complete sum assured along with the applicable bonuses. The benefit received will be subject to the terms and conditions that premiums that are due have been paid and the insurance policy has not been surrendered.

1. Surrender Benefit: The surrender benefit or reduced sum assured is subject to the acquired surrender value will be paid to the insured after three years. Having said that, the bonus amount will be payable with the surrender benefit in case the insurance policy is surrendered after a tenure of five years.

How Gram Suraksha Rural Postal Life Insurance Scheme Works

Gram Suraksha Rural Postal Life Insurance Scheme is a Whole Life Assurance plan. The plan is to be in force for the insured's entire lifetime. The insured can pay premiums throughout his lifetime or till the date as preferred by the insured. On survival, the insured will receive maturity benefit and if he dies during the policy term, then the nominee will receive the death benefit. Maximum sum assured is Rs.1 lakh.

Premiums Payable for Gram Suraksha Rural Postal Life Insurance Scheme

The premium amounts are based on the health and financial situation of the insured. The premiums will be lower if the health conditions are good.

Riders

There are no riders available with Gram Suraksha Rural Postal Life Insurance Scheme.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

RPLI Gram Suraksha Premium Calculator

India Post has its own online PLI premium calculator, and it is available on its official website which is used by the users in determining the premium amount payable against coverage under the scheme. Given below is the step-by-step procedure on how to use the online Gram Suraksha Policy premium calculator:

1. Firstly, visit the official website of Indian Post.

1. Secondly, click on the ‘Postal Life Insurance’ option.

1. You will be redirected to a new page and then click on ‘OK’ to continue.
2. Next, go to the ‘Purchase a Policy’ and tap on the ‘Quote’ from the drop-down menu.
3. Now, enter the required details such as date of birth, contact details, sum assured, residential address, etc.
4. Under the ‘Product Type’ and choose the ‘RPLI’.
5. Now, go to the ‘Product Name’ and choose ‘Gram Suraksha’.
6. Choose the Premium Ceasing Age from the options available.
7. Next, enter the captcha code.
8. You will be able to view the yearly, half yearly, quarterly, and monthly premium quotes against the sum assured.
9. If you wish to calculate again or change the features, you can scroll down and click on ‘Recalculate’ button.
10. Then, you can proceed to purchase the policy.

How to Purchase Gram Suraksha Bima Yojana?

You can purchase this policy both online as well as offline. Next, you visit your nearest post office branch and submit the necessary documents. The following are the steps to purchase Gram Suraksha Bima Yojana online:

1. Once you have followed the steps that are mentioned above, choose the desired option.
2. You will be redirected to an online form wherein you can fill details about the Proposer and the Insurer.

1. Then click on ‘Next’ to fill in the correspondence details.

1. Other details which should be filled out such as employment information, medical history, insurance history, and base coverage.

1. Sign the ‘Declaration’ to proceed with the payment.

1. Finally, make the initial premium payment in order to start the coverage.

1. Your policy papers will be issued to you within ten days of the submission date of the required documents.

Documents Needed

Given below are the list of documents which are required to be submitted to apply for Gram Suraksha Bima Yojana:

1. Proof of age
2. Proof of address

1. Proof of identity

1. Declaration of Medical Examiner

1. Certificate by ASP (Annuity Service Provider) / SDI (Subcontractor Default Insurance)

1. Certificate by Agent/ FO (PLI)/ DO (Development Officer)