Welcome To Odisha Postal Circle

                                 Rural Postal Life Insurance Scheme:-Gram Sumangal
An Anticipated Endowment Assurance Scheme which is also known as money Back Policy.

  • Insurance cover starts from the date of acceptance of the proposal .
  • Survival benefit is paid to the ninsurant periodically.(Such payment will not be taken into consideration in the event of unexpected death of the insurant and full sum assured with accrued bonus is payable to the nominee)
  • Two types of policies i.e. 15 years term and 20 years term.
  • Minimum age entry is 19 years and maximum age at entry is 40 years,
  • Maximum sum assured is Rs 5 lakh.
  • No loan facility.
  • No surrender value is payable.
  • Nomination facility is available.
  • Assignment facility is available.
  • Survival benefit is payable as under:-

                         15 years                                                   20 years

            at the end of 6 years                                                          8 years 20% of sum assured

           at the end of 9 years                                                          12 years 20 % of Sum Assured

            at the end of 12 years                                                       16 years 20% of Sum Assured

            at the end of 15  years                                                    20 years 40% of Sum Assured with accured bonus on original sumassured

         balance 40% sum assured bonus

      with accured bonus on original sum assured