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In 1995, life insurance schemes were introduced to offer a comprehensive life coverage to the rural population of the country at low premium rates. These policies were named Rural Postal Life Insurance (RPLI) and were made available to people living in rural areas.
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Rural Postal Life Insurance (RPLI) was introduced on 24 March 1995 to extend insurance coverage to people living in rural areas of India. In 1993, a special committee named Malhotra Committee reported that insurance created a very small percentage of the gross household savings of India i.e., life insurance funds accounted for only 10% of the total household savings and only 22% of the population eligible for insurance coverage in India had been insured. The Indian Government approved all the committee’s recommendations and allowed Postal Life Insurance to increase its insurance coverage to the rural areas. This helped in generating a life insurance business, mainly because of the large number of post offices in the rural areas and involving low operational costs.
The aim of this rural postal life insurance scheme is to offer insurance coverage to the rural population and to provide benefits to the women workers of rural regions and weaker sections of society. Also, RPLI is creating awareness about insurance among rural masses.
Following are the benefits of the rural postal life insurance schemes. You can also check the benefits of term insurance:
Lapsed life insurance plans can be revived by paying the unpaid premium rates
The policyholder can avail of a loan facility under RPLI
Conversion of plans from one type of policy to another type of plan i.e., whole life assurance plan to endowment assurance is allowed after completion of a specific time.
Change of nomination can also be done by making the request to the postal department.
If the original plan document is damaged or lost, a duplicate copy can also be issued.
Term Plans
There are currently 6 different types of plans under Rural Postal Life Insurance scheme designed for people specifically living outside the municipal boundaries of a city or a town. Rural Postal Life Insurance Policy Plans
Under this scheme, the assured amount along with an accrued bonus is paid to the policyholder either upon acquiring 80 years of age or to their legal representatives/assignees on the assured’s death (whichever occurs earlier), provided the plan is in force on the claim date.
| Parameters | Minimum | Maximum |
| Entry Age | 19 years | 55 years |
| Sum assured limit | Rs. 10,000 | Rs. 10 Lacs |
| Policy Term/Maturity | 80 years or death (whichever is earlier) | |
| Loan Facility | After 4 years | |
| Surrender | After 3 years (if it surrendered before 5 years, bonus is not payable in the policy) | |
| Conversion Facility | Plan can be converted into endowment assurance plan upto the maximum age of 59 years | |
| Premium payment ceasing age | May be opted for as 55, 58 or 60 years | |
| Bonus | Rs. 60/-per Rs. 1000 sum assured per year | |
This scheme comes with an added feature to convert the whole life assurance plan to an endowment assurance plan at the end of the 5 years of buying a policy.
| Parameters | Minimum | Maximum |
| Entry Age | 19 years | 45 years |
| Sum assured limit | Rs. 10,000 | Rs. 10 Lacs |
| Policy Term/Maturity | 80 years or death (whichever is earlier) | |
| Loan Facility | After 4 years | |
| Surrender | After 3 years (if it surrendered before 5 years bonus is not payable) | |
| Conversion Facility | Plan can be converted into endowment assurance plan after 5 years, but later than 6 years of buying the policy. In case of non-conversion, the plan will be continue as Whole Life Assurance. | |
| Premium payment ceasing age | May be opted for as 55, 58 or 60 years | |
| Bonus | Rs. 60/-per Rs. 1000 sum assured per year as on 01.04.2023 | |
Note: Bonus of Endowment Assurance will be paid in case of conversion.
In this, an assurance is given to the proponent to the extent of the Sum Assured and accrued bonus till he/she acquires the pre-determined maturity age (35 years to 60 years of age). Legal heir/nominee/assignee is paid the total Sum Asssured with accrued bonus in case of life assured’s death.
| Parameters | Minimum | Maximum |
| Entry Age | 19 years | 55 years |
| Sum assured limit | Rs. 10,000 | Rs. 10 Lacs |
| Loan Facility | After 3 years | |
| Surrender | After 3 years (if it surrendered before 5 years, bonus is not payable) | |
| Bonus | Rs. 48/-per Rs. 1000 sum assured per year as on 01.04.23 | |
This plan is a money back plan for the people living in rural areas only
| Parameters | Minimum | Maximum |
| Entry Age | 20 years | 45 years |
| Sum assured limit | Rs. 10,000 | Rs. 10 Lacs |
| Policy Term | 10 years | |
| Loan Facility | Not Available | |
| Surrender | Not Available | |
| Bonus | Rs. 45/-per Rs. 1000 sum assured per year as on 01.04.23 | |
| Survival Benefits | 20% of sum assured on completion of 4th and 7th year of policy and the remaining 60% with a bonus at maturity age | |
This is a money back plan which has a maximum Sum Assured of Rs. 10 Lakhs. This plan is best suitable for those people who need returns periodically. The survival proceeds are paid to the policyholder on a periodic basis. These types of payments will not be considered in case of an unforeseen policyholder’s death. In this case, the total Sum Assured with accrued bonus is paid to the nominee/legal heir/assignee.
| Parameters | Minimum | Maximum |
| Entry Age | 19 years | 40 years for 20 years term plan
45 years for 15 years term plan |
| Sum assured limit | Rs. 10,000 | Rs. 10 Lacs |
| Policy Term | 15 years and 20 Years | |
| Loan Facility | Not Available | |
| Surrender | Not Available | |
| Bonus | Rs. 45/-per Rs. 1000 sum assured per year as on 01.04.23 | |
| Survival Benefits | For 15-year term policy- 20% of sum assured on completion of 6th, 9th and 12th year of policy and balance 40% with bonus on maturity. | |
| 20% of sum assured on completion of 8th, 12th and 16th year of policy and balance 40% with bonus on maturity. | ||
| Parameters | Minimum | Maximum |
| Insurance cover | Maximum of 2 children of EA/WLA policyholders | |
| Entry Age (child) | 5 years | 20 years |
| Entry Age of parent (policyholder) | - | 45 years |
| Sum assured limit | Rs. 20,000 | Rs. 1 Lacs |
| Medical Examination | Not necessary for child | |
| Loan Facility | Not Available | |
| Surrender | Not Available | |
| Bonus | Rs. 48/-per Rs. 1000 sum assured per year as on 01.04.23 | |
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Here are the bonus rates of Rural Postal Life Insurance schemes:
| Types of Insurance Plan | Bonus Rates of RPLI Scheme |
| Whole Life Assurance (Gram Suraksha policy) | Rs. 60/- per 1000 SA per year |
| Convertible Whole Life Assurance (Gram Suvidjha policy) | Rs. 60/- per 1000 SA per year (for Whole life insurance if not converted to EA i.e., endowment assurance) Bonus of endowment assurance will be paid on conversion |
| Endowment Assurance (Gram Santosh) | Rs. 48/- per 1000 SA per year |
| 10 Year Anticipated Endowment Assurance (Yugal Suraksha policy) | Rs. 45/- per 1000 SA per year |
| Anticipated Endowment Assurance (Sumangal policy) | Rs. 45/- per 1000 SA per year |
| Gram Bal Jeevan Bima – Children Policy | Rs. 48/- per 1000 SA per year |
| Financial Year | RPLI | ||
| Rate of Bonus per thousand of sum assured | |||
| Whole Life Assurance (WLA) | Endowment Assurance (EA) (including children policies) | Anticipated Endowment Assurance (AEA) | |
| 2009-10 | 65 | 50 | 47 |
| 2010-11 | 65 | 50 | 47 |
| 2011-12 | 65 | 50 | 47 |
| 2012-13 | 65 | 50 | 47 |
| 2013-14 | 65 | 50 | 47 |
| 2014-15 | 65 | 50 | 47 |
| 2015-16 | 65 | 50 | 47 |
| 2016-17 | 65 | 50 | 47 |
| 2017-18 | 65 | 50 | 47 |
| 2018-19 | 65 | 50 | 47 |
| 2019-20 | 65 | 50 | 47 |
| 2020-21 | 60 | 48 | 45 |
| 2021-22 | 60 | 48 | 45 |
| 2022-23 | 60 | 48 | 45 |
| 2023-24 | 60 | 48 | 45 |
| Sl. No. | Nature of Work | Qualifying description | Service standards (in days) |
| 1. | Issue of acceptance letter and policy bond | Time taken from the receipt of completed documents | 15 |
| 2. | Revival/Conversion | Time taken from the receipt of
completed documents |
15 |
| 3. | Loan, change of nomination, assignment of policy, issue of duplicate policy bond. | Time taken on receipt of request | 10 |
| 4. | Change of address | Time taken on receipt of request | 5 |
| 5. | Maturity claim/
surrender/paid up value/survival benefit payment |
Time taken from the receipt of
completed documents |
15 |
| 6. | Settle of PLI/RPLI death claims | With/ without nomination (Time taken from the receipt of completed documents) | 30 |
| Involving investigation | 90 |
Proposal Form
Self-attested or thumb impressed age proof such as:
Birth Certificate
School Certificate/Mark sheet
PAN Card / PRAN Card
Passport
Driving Licence
Aadhar Card
Voter-id
Elder’s declaration
Approximate age certificate from the Medical Examiner
Declaration by the life assured, and then signed by a Panchayat Member
Self-attested or thumb impressed address proof and identity proof such as:
Aadhar Card
Voter-id
Passport
Driving License
Ration Card
Electricity Bill or Water Bill
Medical Report
Declaration of Medical Examiner
Declaration in cases wherein the proposer is illiterate
Certificate and Confidential Report by DO/FO(PLI)/AGENT
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