What is Postal Life Insurance Endowment Assurance (Santosh) Scheme ?

Spread the love

Postal Life Insurance Endowment Assurance (Santosh)

Under this scheme the proponent is given an assurance to the extent of the sum assured and accrued bonus till he/she attains the pre- determined age of maturity i.e 35,40,45,50,55,58 & 60 years of age.

  1. In case of death of insurant, assignee, nominee or legal heir is paid full amount of sum assured with accrued bonus
  2. Minimum & maximum age at entry: 19-55 years
  3. Minimum sum assured ₹ 20,000; Maximum ₹ 50 lac
  4. Loan facility after 3 years
  5. Surrender after 3 years
  6. Not eligible for bonus if surrendered before completion of 5 years
  7. Proportionate bonus on reduced sum assured is paid if policy is surrendered after 5 years
  8. Last declared Bonus- ₹ 52/- per ₹ 1000 sum assured per year
See also  What is Postal Life Insurance Joint Life Assurance (Yugal Suraksha)



Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *