Your Path to Financial Freedom: Gram Suraksha Yojana Explained

Risk-Free Investment Option

Gram Suraksha Yojana is a post office scheme that falls under the category of risk-free investments, making it appealing to many investors who seek stability in their returns.

Age and Investment Range

Indian citizens aged between 19 and 55 years can invest in this scheme, with an annual investment range from Rs 10,000 to Rs 10 lakh.

Returns at Age 80

Investors receive returns with bonuses at the age of 80 years. In the unfortunate event of the investors demise before reaching 80 years, the legal heir receives the invested amount.

Plan Features

It is a Whole Life Assurance plan with a single premium payment basis. The plan offers death and maturity benefits, and high bonuses are provided by RPLI.

Flexible Premium Payment

Premiums can be paid on a monthly, quarterly, half-yearly, or yearly basis, providing flexibility to investors.

Medical Check and Maximum Sum Assured

For those who prefer not to undergo a medical check, the maximum sum assured is Rs. 25,000, and the maximum entry age is 35 years.

Policy Revival and Conversion

The policy can be revived after paying unpaid premiums, and conversion to Endowment Assurance - Gram Santosh is allowed.

Loan and Surrender Benefits

Insured individuals are eligible for a loan after paying premiums for 48 months, and policy surrender is allowed after 36 months with a surrender benefit.

Tax Benefits

Investors can avail tax benefits under Section 80C and Section 88 of the Income Tax Act, 1961, making it a financially prudent choice.

Documents which are required to apply for Gram Suraksha Bima Yojana

Proof of age, Proof of address, Proof of identity, Declaration of Medical Examiner, Certificate by ASP (Annuity Service Provider) / SDI (Subcontractor Default Insurance), and Certificate by Agent/ FO (PLI)/ DO (Development Officer).