Gram Sumangal Rural Postal Life Insurance Scheme : Post Office Scheme: Invest Rs 95 and earn Rs 14 lakh, here's how

Gram Sumanagal Rural Postal Life Insurance Scheme is an endowment scheme which provides people living in rural areas to receive cashbacks on a regular basis along with insurance cover. There are two types of plans under this scheme.

The Gram Sumangal Rural Postal Life Insurance Scheme, also referred to as the Anticipated Endowment Assurance is a money-back scheme. The policy is ideal for individuals who have periodic requirements of cash for their short-term financial liabilities. This scheme is targeted to provide insurance cover to the people belonging to rural areas. There are two types of plan under this scheme – 15 years term and 20 years term.


You can earn Rs 14 lakh by investing Rs 95 per day as premium through a post office scheme Gram Sumangal Rural Postal Life Insurance. The key benefits of this post office scheme is that people living in rural areas can avail money back and an insurance cover by buying this scheme. Gram Sumangal is one of the six Rural Postal Life Insurance Schemes which were launched in 1995. Others are Whole Life Assurance or Gram Suraksha, Endowment Assurance or Gram Santosh, Convertible Whole Life Assurance or Gram Suvidha, 10 Year RPLI or Gram Priya, and Children Policy or Bal Jeevan Bima.

The Post Office's Gram Sumangal Rural Postal Life Insurance Scheme is an endowment scheme that provides money back as well as insurance cover to people living in the rural areas. There are two types of plans under this scheme.

What is Gram Sumangal Scheme?

This policy is very beneficial for people who need money from time to time. The Gram Sumangal Yojana offers a maximum sum assured of Rs 10 lakh. If a person is alive even after the maturity of the policy, he also gets the benefit of moneyback. In the case of the death of a person, the nominee is given the sum assured as well as a bonus amount.
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Eligibility Conditions for Gram Sumangal

The Sumangal Scheme is available for two periods -- these include 15 years and 20 years. The minimum age for availing of this policy should be 19 years. A person opting for the 15-year-policy should be a maximum of 45 years, while for the 20-year-policy, the person should be a maximum of 40 years.

A 15-year policy yields 20-20 per cent money back on completion of 6 years, 9 years and 12 years. The remaining 40 per cent of the money, including bonus, will be paid on maturity. Similarly, a 20-year policy receives 20-20 per cent of money over a period of 8 years, 12 years and 16 years. The remaining 40 per cent of the money will be given on maturity with a bonus.

Premium of only Rs 95 per day

If a 25-year-old takes this policy for 20 years with a sum assured of Rs 7 lakh, he will have a premium of Rs 2,853 per month, i.e. about Rs 95 per day. The quarterly premium will be Rs 8,449, the half-yearly premium will be Rs 16,715 and the annual premium will be Rs 32,735.

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Who can avail Gram Sumangal Policy of Post Office?
  • Post office’s Gram Sumangal Policy can be taken for two tenures. One is 15 years and another 20 years.
  • The minimum age for availing the Post Office’s Gram Sumangal Policy is 19 years.
  • The maximum age for availing the 15-year tenure is 45 years and the 20-year policy is 40 years.
Gram Sumangal Policy criteria
  • If you are buying a 15-year-old tenure Gram Sumangal Policy, you will get 20-20 per cent moneyback on 6 years, 9 years, and 12 years. Remaining 40 per cent of the money, which will include bonus, will be paid to policyholder on the maturity.
  • If you are buying a 20-year Gram Sumangal policy, you will receive 20-20 per cent of moneyback over completion of 8 years, 12 years and 16 years. The remaining 40 per cent will be paid on maturity with a bonus.
How to Get Rs 14 lakh by paying Rs 95 premium
  • So, if a 25-year-old buys the Gram Sumangal Policy of Post Office for 20-year tenure.
  • For a sum assured of Rs 7 lakh, he or she needs to pay a premium of Rs 2,853 per month, effectively around Rs 95 per day.
  • As per the moneyback criteria of the Post Office’s Gram Sumangal Policy, he or she will get Rs 1.4-1.4 lakh in the 8th, 12th and 16th years at 20-20 per cent.
  • Finally, in the 20th year, Rs 2.8 lakh will also be given as some assured.
  • As per the policy terms and rules, the annual bonus per thousand is Rs 48, which means the annual bonus on some assured of Rs 7 lakh will be Rs 3,36,00. The bonus for the entire policy period for 20 years will be Rs 6.72 lakh.
  • Thus, a total profit of Rs 13.72 lakh will be made in total policy tenure of 20 years.
  • Out of the total, Rs 4.2 lakh will be received as money back. The remaining Rs 9.52 lakh will be paid on maturity.