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It is a Whole Life Assurance Scheme.
Under this scheme, the proponent is given an assurance to the
extent of sum assured and accrued bonus which is paid to the assignee,
nominee or legal heir after the death of the insurant.
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Insurance cover starts from
the date of acceptance
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Minimum Age at entry is 19
years
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Maximum Age at entry is 55
years and for policies with sum assured beyond Rs.1 lakh the maximum age
at entry is 45 years
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Premium ceasing at the age of
55, 58 & 60
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Maximum sum assured is Rs. 2 lac
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Eligible for loan after
payment of premia for 48 months
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Interest rate @ 10% on
loan
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Surrender of policy allowed
after payment of premia for 36 months
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Assignment facility
available
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Can be converted into Gram
Santosh (Endowment Assurance)
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Nomination facility
available
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Rural
Postal
Life Insurance Scheme - Gram Suraksha