The Gram Suraksha scheme is offered by India Post which might be an option that you would like to explore for investing your money. This insurance scheme presents a good investment option for investors looking to save up for retirement years. Under the Gram Suraksha scheme, the assured amount with bonus is payable either on attaining the age of 80 or to their legal heir/ nominee in the event of death, whichever occurs earlier.
As per rules, in this scheme, any Indian citizen between the age of 19 and 55 can get enrolled in this insurance scheme. While the minimum sum assured under this plan is Rs 10,000, buyers can opt for any amount up to Rs 10 lakh. The premium payment of this scheme is flexible, and investors have the option to pay it monthly, quarterly, half-yearly or annually. A grace of 30 days is given to the investors to pay the premiums. In the event of a lapse during the policy tenure, the investor can restart the policy after paying up the pending premiums.
As reported by News18, "If one buys the Gram Suraksha policy of 10 lakh sum at the age of 19, then the monthly premium for 55 years will be Rs 1,515, for 58 years Rs 1,463 and for 60 years Rs 1,411. The policy buyer will get a maturity benefit Rs 31.60 lakhs for 55 years, 33.40 lakhs for 58 years. For 60 years the maturity benefit will be Rs 34.60 lakhs."