Ghazipur: Often people choose bank FD or stock market for investment, but very few people know about post office schemes like Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI). Ghazipur’s investment advisor Gaurav Yadav says that both these schemes are considered to be the safest life insurance and investment option as they are run by the government. In this, compound interest is available up to about 10%, that is, the interest also increases on the interest. For this reason, returns in the long run become quite high.
Gaurav Yadav explains that Postal Life Insurance (PLI) is a scheme mainly designed for government employees, some categories of private employees, graduates and professionals. This class is looking for stable income and safe investment, hence PLI becomes a reliable option for them. On the other hand, Rural Postal Life Insurance (RPLI) has been specially designed for rural areas, which includes farmers, laborers, families involved in small businesses and people living in villages.
You will get more benefits in the long run
This scheme provides both insurance protection and savings at low premium to those needy families. The biggest feature of both the schemes is that their monthly installments are very low, while in return one gets the double benefit of insurance coverage and savings. Gaurav Yadav says that most of the government employees choose a policy of 10-15 years, because in this period, the benefit of compound interest is more and the returns are also much better, which creates a strong financial security for the future.
3 times return in 30 years
Gaurav is currently 25 years old. He deposits ₹2,456 every month, which after removing GST comes down to around ₹2,350. He says that the removal of GST on PLI by the Modi government proved to be a big benefit for him, hence he chose the 30 year plan with confidence. According to Gaurav, when he turns 55, he will get an amount of approximately ₹ 28 lakh from this scheme. Whereas his total investment will be only around ₹ 8.9 lakh. That means more than three times the return.
Big benefits from small monthly savings
Gaurav says that if even Rs 500 to Rs 2,500 is saved in a month, then PLI or RPLI is the safest and beneficial saving option. He says that people doing government jobs usually work till the age of 55–60 years, and then this policy becomes a strong financial support for them after retirement. At the same time, Rural Postal Life Insurance (RPLI) is absolutely suitable for people living in rural areas, laborers or less educated people, because its plans have been specially designed keeping their needs in mind. In a long term policy, not only are the premiums less, but the returns are also very good. This plan provides financial security in any circumstances, and even small monthly savings can turn into big capital in the future.
