Savings are very important in our life. It allows you to enjoy greater security in your life. Savings provides you an opportunity to enjoy your life. It protects you in the event of a financial emergency. And it helps to limit the debt burden. It expands your options for decisions. It removes financial stress and anxiety. It gives more financial stability, security. Savings benefits you in your future. It secures a family from financial difficulties.
If you have any emergency situation you need to save money. Emergencies are unexpected things in our life. We can prepare for retirement by saving money. Savings and investments are connected.These savings control our future. There is a lot of investment from the government itself.
Many of us do not know much about these Investments. That is why we lost a lot of benefits.
Today we can see about the gram suraksha scheme. It is a rural postal life insurance plan. It has low premiums and high returns. It offers protection for a complete lifetime. Age limit for this plan is 19 years to 55 years. The total amount payable on the death or the sum assured has certain limitations. Minimum sum assured is Rs 10,000 and maximum sum assured is Rs 10 lakhs.
You can pay a premium on a regular basis. You can pay yearly, half yearly, monthly,etc. The people who live in rural areas can apply for this scheme.It has attractive bonuses. Medical examinations are mandatory. If a medical exam is not conducted, the maximum sum assured is Rs 25,000. You can nominate an individual who will receive death benefits. The death benefit is equal to sum assured plus accrued bonus is paid to the nominee. If the life assured survives the policy term,they will receive the sum assured as maturity benefit.
Several schemes promise great returns but it has risk. Grama suraksha scheme offered by India post. It is good insurance for those who are planning to save for retirement. It assures an amount with bonus either after reaching the age of 80 years,or to their death. It also has a loan facility. We will take out a loan after 4 years of the policy purchase. We can stop after 3 years,but they won’t get any benefits. You will get a bonus by India post. They will get Rs 65 for Rs 1000 bonus per year. They will get a 30 days grace period.