New Sarkari Yojana List 2023 (नई सरकारी योजनाओं की सूची)

New Sarkari Yojana List 2023 (नई सरकारी योजनाओं की सूची)

प्रधानमंत्री मोदी एवं विभिन्न राज्य के मुख्यमंत्री द्वारा शुरू की गयी सभी योजनाएं, केंद्र व राज्य सरकार की योजनाएँ 2023, सरकारी योजना हिंदी और अंग्रेजी में योगी योजना वेबसाइट पर

Rural PLI Gram Suvidha Scheme 2023 - Post Office Convertible Whole Life Assurance Policy Details

 Rural Postal Life Insurance has launched Post Office Gram Suvidha Scheme 2023. In RPLI Convertible Whole Life Assurance Scheme, people enters into contract with the government to be eligible to receive a given sum of money, on the death of an individual, to his legal representatives or assigns, or him or herself if he or she suvives the policy term. Rural PLI Gram Suvidha Yojana also has the option for the policy holder to convert the policy, at the end of 5 years (with a grace period at the end of six years) from the date of commencement of risk, into an Endowment Assurance maturing at a specified age.

Post Office Gram Suvidha Scheme 2023 Salient Features

A Whole Life Assurance Policy with the added feature of an option to convert to Endowment Assurance Policy at the end of five years of taking policy. Most important features of Gram Suvidha Scheme are as follows:-
  • Assurance to the extent of sum assured with accrued bonus till attainment of maturity age
  • In case of death, assignee, nominee or legal heir paid full amount of sum assured with accrued bonus
  • Minimum age & maximum age at entry: 19-45 years
  • Can be converted into Endowment Assurance after 5 years not later than 6 years of taking policy. If not converted, policy will be treated as Whole Life Assurance.
  • Minimum sum assured: Rs. 10,000; 
  • Maximum sum assured: Rs. 10 lakh.
  • Loan facility after 4 years
  • Surrender after 3 years
  • Not eligible for bonus if surrendered before completion of 5 years
  • Last declared Bonus - Rs. 60/- per Rs. 1000 per year (for WLA policy if not converted to Endowment Assurance)
  • ​On conversion, bonus of Endowment Assurance will be payable.

Entry Age in Rural PLI Gram Suvidha Yojana

  • The minimum age at entry of the applicant for Rural PLI Gram Suvidha Scheme is 19 years.
  • The maximum age at entry of the applicant for Rural PLI Gram Suvidha Scheme is 45 years. 

Benefits of RPLI Convertible Whole Life Assurance Policy

Here are the benefits and advantages of RPLI Grama Suvidha scheme:-
  • Death Benefit: In the event of the untimely death within the policy term of the policy, the nominated will be able to claim the sum assured along with bonuses that have been accrued.
  • Maturity Benefits: If the individual survives the policy term, the policyholder will be able to claim the sum assured along with bonuses that have been accrued.
  • Accrued Bonuses Payments: RPLIs are said to have the highest returns in the market considering the low premium amounts payable.
  • Loan Against Policy: Loan against the policy can be taken after the individual has regularly paid their premium previously. Loan facility is available after 4 years.
  • Income Tax Benefits: The Insurance policies offered through PLI have tax benefits which are predominantly under Section 80C which basically states that a policyholder having a policy issued on or before 31st March 2012 will be eligible to avail a tax deduction of 20% of the sum assured. For those who have availed a policy on or after 1st April 2012 will be eligible to avail a tax deduction of 10% of the sum assured.
  • Duplicate Policy Bond: With a simple application a Duplicate Policy Bond may be issued in case of the original Policy Bond is lost, burnt, torn or mutilated.
  • Convertible: A policy holder can convert this policy from Whole Life Assurance to Endowment Assurance and from Endowment Assurance to other Endowment Assurance as per rules.

About Rural Postal Life Insurance

Rural Postal Life Insurance (RPLI) was introduced in 24.03.1995 for rural people of India. The Malhotra Committee had observed in 1993 that only 22% of the insurable population in this country had been insured; life insurance funds accounted for only 10% of the gross household savings. 

Central government accepted the recommendations of Malhotra Committee and allowed Postal Life Insurance to extend its coverage to the rural areas to transact life insurance business, mainly because of the vast network of Post Offices in the rural areas and low cost of operations. 
The prime objective of the RPLI scheme is to provide insurance cover to the rural public in general and to benefit weaker sections and women workers of rural areas in particular and also to spread insurance awareness among the rural population.


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