Term Plans
Rural Postal Life Insurance (RPLI) was launched in 1995 to make life insurance accessible to people in rural areas, especially those from weaker sections of society. These schemes are operated through post offices, ensuring easy reach even in remote locations. RPLI offers six different insurance plans that provide financial protection and savings benefits. One of the most popular is the Gram Suraksha Yojana, a whole-life insurance policy that combines life cover with long-term savings. It is designed to offer affordable premiums and guaranteed returns, making it a reliable choice for rural families.
The Post Office Gram Suraksha Yojana is a whole-life assurance plan that covers the policyholder's entire lifetime. In the event of the policyholder's death, the nominee receives the sum assured and the applicable benefits. The life insurance policy also includes a bonus component, which enhances the overall payout and adds to its appeal. Designed specifically for people living in rural areas, this RPLI scheme offers lifelong financial protection at affordable premiums, making it a dependable option for families seeking security and savings.
Term Plans
The policy can be converted to an endowment assurance policy on completing 5 policy years.
Further, conversion to an endowment-based policy is only applicable until the policyholder turns 59.
Policyholders can avail of loan facilities, subject to the sum assured, on the completion of 4 years.
The policy can be surrendered after 3 years into the policy term plan. However, the bonus amount shall be payable to the life assured only on surrendering the policy after 5 years.
Policyholders can pay premiums until they turn 55, 58, or 60.
The bonus rate applicable is Rs. 60 per Rs. 1,000 sum assured, as per the latest rates declared.
If the buyer purchases the policy after the age of 45, the maximum cover amount that she/he can avail of is Rs. 5 Lakhs.
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Criteria | Minimum | Maximum |
Entry Age | 19 years | 55 years |
Sum Assured | Rs. 10,000 | Rs. 10 Lakhs |
Premium Ceasing Age | 55 years / 58 years / 60 years |
This RPLI whole-life assurance policy offers the following benefits:
Death Benefit - On the death of the life assured at any point during her/his lifetime, the assigned nominee or the family members receive the complete sum assured on death along with applicable bonuses. This is subject to the condition that the due premiums have been paid in full and the policy has not been surrendered.
Maturity Benefit - If the life assured survives the policy's maturity date, she/he could claim the entire maturity benefit amount along with applicable bonuses.
Surrender Benefit - If the policy is surrendered after 3 years, a reduced sum assured or the surrender benefit, subject to the acquired surrender value, will be paid to the policyholder. However, the bonus amount is only payable along with the surrender benefit if the policy is surrendered after 5 years.
India Post features an online PLI premium calculator on its website that can be used to determine the premiums payable against the desired coverage under Gram Suraksha. Here is a step-by-step guide on how to use the online Gram Suraksha Policy premium calculator.
Step 1: Visit the official website of India Post, and click on Postal Life Insurance.
Step 2: Once done, you will be redirected to an external page. Click on OK to proceed.
Step 3: Move to 'Purchase a Policy' and click on 'Quote' from the drop-down menu.
Step 4: Enter the requested details, including contact details, date of birth, gender, residence, sum assured, etc.
Step 5: Under Product Type, select RPLI, and then under the Product Name, select Gram Suraksha.
Step 6: Select the Premium Ceasing Age from the options. You would like to pay off the policy premiums due at this age.
Step 7: Enter the letters as shown in the captcha below, and then you get the monthly, quarterly, half-yearly, and yearly premium quotes against the sum assured opted for.
Step 8: If you want to calculate again to compare quotes of other policies or change the features, scroll down and click on Recalculate. If you are satisfied, you can proceed to buy the policy.
The policy can be bought online as well as offline. For the latter, you can visit your nearest post office branch and submit the relevant documents. To purchase online, follow the steps below:
Follow the above-mentioned steps from 1 through 10.
If you have arrived at a reasonable premium quote, choose the ‘Select’ option against it.
This takes you to a form wherein you will have to fill in more details about the Insurer and the Proposer.
Click on Next to fill in the correspondence information about where you live and ways to reach you.
The subsequent forms are related to your employment details, nominee assignment, history of insurance, medical history (if any), and base coverage.
Sign the Declaration to proceed to the payment details.
Pay the initial premium installment to start coverage.
The policy will be issued 10 days from the date of submission of the requisite documents.
Age proof
Address Proof
Identity Proof
Declaration of Medical Examiner
Declaration in case the proposer is illiterate
Certificate by DO/FO(PLI)/Agent
Certificate by SDI/ASP
Note: Check all the best term insurance plan in India.
Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.
˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.
+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
Women
+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.
1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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