Deposit Rs 95 in this scheme of Post Office, you will get the benefit of Rs 14 lakh

Newz Fast, New Delhi: Sumangal Rural Postal Life Insurance Scheme is an endowment scheme. This scheme is very suitable for those people who need money from time to time.

India Post Department runs many small savings schemes. These post office schemes are very popular because while they give good returns, the investment is also completely safe.

Sumangal Rural Postal Life Insurance Scheme is also a great investment plan.

In this scheme, even by depositing Rs 95 daily, a person can create a fund of Rs 14 lakh. The age limit for taking the policy of Gram Sumangal Yojana is from 19 years to 45 years. Any Indian citizen can take advantage of this.

Sumangal Rural Postal Life Insurance Scheme is an endowment scheme. This scheme is very suitable for those people who need money from time to time.

In this, the benefit of money back is also available on the survival of the insured. This means that the insured will get back the money he has invested and the insurance cover will also be available.

Will get the benefit of money back
There is a sum assured of Rs 10 lakh in this scheme. That is, if the policyholder dies, the family gets Rs 10 lakh plus bonus amount. This policy has a tenure of 15 and 20 years.

Under a 15-year policy, 20-20 percent of the sum assured is available as money-back on completion of 6, 9, and 12 years. The remaining 40 percent amount is available on maturity along with bonus.

In a 20-year policy, at 8, 12 and 16 years, 20-20 percent of the amount is available as money back and the remaining 40 percent is available with bonus on maturity.

Create a fund of 14 lakhs like this
If a person takes this policy for 20 years at the age of 25 with Sum Assured of 7 lakhs, then he will have to pay a premium of Rs 95 per day. That is, he will have to deposit Rs 2850 per month.

On paying installments for 3 months, you will have to pay Rs 8,850 and for 6 months you will have to pay Rs 17,100. By investing in this way, you will get about Rs 14 lakh on maturity.