Description : This is a scheme for residents in rural areas. It is whole life insurance that can be converted into an endowment policy after 5 years. They can also surrender the policy after the completion of three years. A loan facility is available after the completion of four years. Eligibility :

1. Should be a resident of Karnataka
2. Should belong to a rural area
3. Should be between 19 and 45 years. Process :
4. Visit the closest post office and apply for the scheme by submitting the required forms and documents.
5. Collect the acceptance letter if your application is approved as intimated by the post office official.
6. Collect the policy bond (most important document) as directed by the post office official.
7. Premium can be paid in cash or cheque whenever it is due in any post office across India without transferring the policy from one circle to another.
8. Claim cheque will be sent to the customer’s address by the due date of maturity. Note from the Policy Bond, the date of commencement of the policy, due date and mode of payment of premium (i.e. yearly, half-yearly, quarterly, monthly etc)Benefit : Rs 10,000 to Rs 10 lakhs