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Postal Life Insurance- Sumangal
An Anticipated Endowment Assurance Scheme which is also known as Money Back Policy.
What is the age limit to open the policy in respect of the Anticipated Endowment Assurance Scheme (Sumangal) under Postal Life Insurance?
Two types of policiesi.e. 15 year term and 20 year term
* In case of 15 years term policy the minimum age at entry is 19 years and maximum age at entry is 45 years
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In case of 20 years term policy the minimum age at entry is 19 years and maximum age at entry is 40 years
What are the salient features of Anticipated Endowment Assurance Scheme (Sumangal)?
* Survival benefits is paid to the insurant periodically (Such payments will not be taken into consideration in the vent of unexpected death of the insurant and the full assured with accrued bonus is payable to the assignee, nominee or legal heir).
* Maximum Sum Assured of Rs. 10 lac.
* Insurance cover starts from the date of acceptance of the proposal
* No loan facility
* No surrender value value is payabl
* Assignment facility available
* Nomination facilty is available
* Income tax rebate under section 80-C of Income Tax Act.
What are the benefits offered by Sumangal policy?
The Sumangal policy offers the following attractive benefits
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15 years Term
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20 years Term
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1
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At the end of 6 years, 20 % of the sum assured is payable
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At the end of 8 years, 20 % of the sum assured is payable
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2
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At the end of 9 years, 20 % of the sum assured is payable
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At the end of 12 years, 20 % of the sum assured is payable
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3
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At the end of 12 years, 20 % of the sum assured is payable
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At the end of 16 years, 20 % of the sum assured is payable
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4
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At the end of 15 years, 40 % of the sum assured is payable together with bonus accrued
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At the end of 20 years, 40 % of the sum assured is payable together with bonus accrued
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Mr. Manik Das
Deputy Divisional Manager (PLI)
Office of the Chief Postmaster General, Assam Circle
Meghdoot Bhawan
Guwahati - 781001.
Phone: 0361-2547385
email : pli_assam@yahoo.co.in
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