Source link
Sum Assured upto 50 Lakhs with bonus
The age limit for purchasing this insurance is 19 years to 55 years. Under this scheme, the policyholder gets a minimum bonus of Rs 20,000 and a maximum sum assured of Rs 50 lakh after the age of 80 years. If the insured dies during this time, his heirs get this amount.
Loan facility
In this insurance plan, the policyholder is also given the facility to take a loan after continuing the policy continuously for 4 years. If you don’t want to continue this plan for long. So you can also surrender it after 3 years. But if you surrender it before 5 years, you will not get the benefit of bonus on it. A bonus is paid on the sum assured on surrender after five years.
A formidable plan of the Post Office; Deposit 10k per month and get 16 lakhs
But the benefits…
In this scheme the insured gets tax exemption. You can get exemption under Section 80C of Income Tax Act for premium paid in Postal Life Insurance. This plan gives you the option to pay the premium monthly, quarterly, half yearly and yearly. You can choose the option according to your convenience. Not only this, if you wish, you can convert this policy into an endowment assurance policy till the age of 59 years.
India Post Recruitment: Job opportunity for 10th, 12th passed in post office
Who can benefit?
Earlier, only government and semi-government employees could avail this scheme. But after 2017 doctors, engineers, lawyers, management consultants, chartered accountants, architects, bankers and employees etc. can avail the insurance scheme. If you want to avail this scheme then you can buy online. For more information https://www.indiapost.gov.in/Financial/Pages/Content/pli.aspx Click on this link.
