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All About Gram Sumangal Rural Postal Insurance Scheme

Published On Jul 30, 2021 6:00 PM By InsuranceDekho

The Gram Sumangal Rural Postal Insurance Scheme (RPLI) is a Money Back Policy with a maximum sum assured of Rs. 10 Lakh. It is best suited to those who need regular returns. Survival benefits are paid periodically. These payments will not be considered in the event of the unexpected death of the life assured. In such cases, the full sum assured with accrued bonus is paid to the nominee, the nominee of the legal heir.

Features of The Gram Sumangal Rural Postal Insurance Scheme (RPLI)

Following are the key features of the Gram Sumangal Rural Postal Insurance Scheme -

  • The policy term of the scheme is 15 years and 20 years
  • Life assured can start at the age of 19. The maximum age of the life assured for a 20-year term policy is 40 years and that of 15 years is 45 years.
  • Survival benefits are paid periodically as below: -
  • 15 years Policy- 20% of sum assured at the end of 6years, 9 years, and 12 years and 40% with accrued bonus on maturity.
  • 20 years Policy- 20% of the sum assured at the end 8 years, 12 years & 16 years and 40% with accrued bonus on maturity.
  • The last declared Bonus is Rs 47 per Rs 1000 sum assured per annum.

The Gram Sumangal Rural Postal Insurance Scheme offers the following six policies:

  1. Whole Life Assurance (Suraksha)
  2. Endowment Assurance (Santosh)
  3. Convertible Whole Life Assurance (Suvidha)
  4. Anticipated Endowment Assurance (Sumangal)
  5. Joint Life Assurance (Yugal Suraksha)
  6. Children Policy(Bal Jeevan Bima)

Benefits of Gram Sumangal Rural Postal Insurance Scheme (RPLI)

The Gram Sumangal Rural Postal Insurance Scheme is the sole policy in the Indian life assurance market today that gives a better rate of return (bonus) with the low premium charged for any product in the market.

Under the Gram Sumangal Rural Postal Insurance Scheme, the life assured can also get the subsequent benefits -

  • You can change your nominee.
  • The life assured can request for a loan by vowing their policy to Heads of the Circle on behalf of the President of India, provided the policy is 3 years old if it is Endowment Assurance and 4 years in case of Whole life insurance. The assignment facility is additionally available.
  • Assignment of Policy to any financial organization for taking a loan.
  • Revival of their failed policy. Policy declines after 6 unpaid premia if it remained in corps for less than 3 years and after 12 unpaid premia if it remained in corps for over 3 years.
  • They issue a replica Policy Bond if the first original Policy Bond is lost, burnt, or torn/mutilated.
  • Conversion from Whole life insurance -Gram Suraksha to Endowment -Gram Santosh Assurance and from Endowment Assurance -Gram Santosh to other Endowment Assurance-Gram Santosh with reduced sum assured or reduced term as per rules are often provided in this policy.


Rural Postal life insurance (RPLI) scheme was introduced to provide benefits to the agricultural population, to increase the coverage of the people living in rural areas with special concentration on the weaker sections and lady workers after the advice of the Official Committee for Reforms within the Insurance Sector. It offers six types of schemes. It provides many benefits depending on the type of scheme you choose. The tenure of the term plays a key role in deciding the amount of bonus you receive. It provides a duplicate bond if the original bond is damaged. This policy provides conversion from one scheme to another.

Also read 

Tax Benefits Under Money Back Plans Explained

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Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.        

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