Bal Jeevan Bima Yojana: Benefits of Bal Jeevan Bima Yojana, Maturity, Premium
Bal Jeevan Bima Yojana:– In this era of inflation, parents start worrying about their children’s future even after birth. Parents start investing in their children from birth to improve their future. If you are also thinking of taking an investment plan for your children then the Post Office Life Insurance Scheme will prove to be a good investment option for you. Because in this scheme you can get lakhs of rupees for your child’s education and other needs by investing only 6 rupees. Today we will provide you information related to Bal Jeevan Bima Yojana through this article. So you have to know all details regarding this scheme
Post Office Bal Jeevan Bima Yojana
Bal Jeevan Bima Yojana of Post Office comes under Rural Postal Life Insurance. Bal Jeevan Bima Yojana has been designed by the government especially for children. Child Jeevan Bima Yojana can be purchased by parents in the name of children. However only children can be made its nominee. But the age of parents of children should not be older to buy child life insurance. The benefit of this child life insurance is available to children between the age of 5 to 20 years. Under Bal Jeevan Bima Yojana policy holder i.e. parents of children can enroll only two children in this scheme.
Information about Bal Jeevan Bima Yojana
- The name of the scheme is Bal Jeevan Bima Yojana
- Under the introduced Post Office Gramin Dak Life Insurance
- Beneficiary children from 5 to 20 years
- The objective is to make the child a millionaire by investing only Rs.6
- Sum assured is less than 1 lakh rupees
- Application process is offline
If you deposit 6 rupees per day, you will get 1 lakh rupees
Under Bal Jeevan Bima Yojana, the premium can be deposited from Rs.6 to Rs.18 per day. Under this scheme, premium can be deposited on monthly, quarterly, quarterly and yearly basis. This scheme provides cover only to children aged 5 to 20 years. Bal Jeevan Bima Yojana provides a sum assured benefit of 1 lakh rupees on maturity. If a policy holder has purchased this policy for 5 years then he will have to deposit a premium of Rs 6 per day. And if this policy is purchased for a period of 20 years then the policy holder will have to pay a premium of Rs 18 per day.
Benefits of Bal Jeevan Bima
If the policy holder i.e. the parent dies before maturity then the child premium is waived off.
If the child dies, the Sum Assured is paid to the nominee. Apart from this, an assured bonus is also given along with it.
Under Child Life Insurance all the money is paid to the policy holder on maturity.
After paying regular premium for up to 5 years, this policy becomes a pay-up policy.
Under this scheme you can invest monthly, quarterly, quarterly, annually
Features of Child Life Insurance
Under Bal Jeevan Bima Yojana only two children of a family will be benefited.
Children should be between 5 and 20 years of age to invest.
Under Bal Jeevan Bima Yojana, a sum assured of at least 1 lakh rupees is available.
The policy holder should not be more than 45 years of age at the time of purchasing the policy.
If the policyholder dies before the policy matures, then the policy premium will not be paid to the child in such a situation.
After the completion of the policy period, the entire maturity amount is given to the child.
The premium of this policy is paid to the policy holder ie parents.
In Bal Jeevan Bima Yojana, you will be given an additional bonus of Rs 48 every year on the sum assured of Rs 1000.
Eligibility for Bal Jeevan Bima Yojana
The age of the child should be at least 5 years to avail the benefit of Child Life Insurance Scheme. And the maximum age should be 20 years.
The age of the policy holder i.e. parents should not be older than limited age
The benefit of this scheme can be given only to 2 children of a family.
Documents Required for Bal Jeevan Bima Yojana
- Children’s Aadhaar Card
- Birth certificate
- Residence certificate
- mobile number
- Passport size photo
- Aadhaar card of parents
Application Procedure under Bal Jeevan Bima Yojana:
To apply under Bal Jeevan Bima Yojana, the parent or guardian of the child has to go to their nearest post office.
After receiving the application form you have to enter the child’s information like name, income and address etc. in the form.
Apart from this the information of the policy holder also has to be entered in the form.
Now you have to attach all the required documents asked for after filling the application form with the form.
After completing the application process you have to submit this form back to the post office.
Thus you can apply under Bal Jeevan Bima Yojana.
