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Revive your lapsed insurance policy by 30 June; this is what you can do

RPLI was introduced in 1995 to bring people in rural India under insurance coverage. The scheme extends to people living in rural areas, with a special emphasis

Great opportunity to revive your Rural Postal Life Insurance (RPLI)  scheme in case it has lapsed. India Post Office offers its customers the opportunity to revive their policies. The Indian Post Office opened a window until June 30, 2020, to complete it, so hurry in case you have still not done it.

For more details, you can call the nearest post office or the toll-free number 18001805232.

Personal Finance

RPLI was introduced in 1995 to bring people in rural India under insurance coverage. The scheme extends to people living in rural areas, with a special emphasis on weaker sections and women workers.

RPLI Policies: RPLI offers the following six types of policies:

1) Whole Life Assurance (Gram Suraksha): Under this scheme, an assured amount with accrued bonus is given to the insured when he reaches 80 years of age or to legal assignees on death.

2) Convertible Whole Life Assurance (Gram Suvidha): The complete life insurance policy is guaranteed to the extent of the amount guaranteed with the accrued bonus till attainment of maturity age.

3) Anticipated Endowment Assurance (Gram Sumangal) - Money Back Policy with the maximum guaranteed amount? 10 lacs, the most suitable for those who need periodical returns.

4) 10 Year RPLI (Gram Priya) – It is a short-term money-back scheme for rural residents only. The insured is granted lifetime coverage of up to 10 years

5) Children Policy (Bal Jeevan Bima): The scheme provides life insurance coverage for the children of the policyholders. A maximum of 2 parent holder (parent) are eligible.

6) Endowment Assurance (Gram Santosh): Under this scheme, the proponent is given a sum assured with accrued bonus till he/she attains the pre-determined age of maturity i.e 35,40,45,50,55,58 & 60 years of age.

Source: Zeebiz, msn

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