Postal Life Children Policy (Bal Jeevan Bima) Plan

The Central Government of India launched Rural Postal Life Insurance on 24th March. 1995. The main objective of this policy is to help out the people residing in the rural areas of the country since there are several branches of Indian Post spread across the country. Under RPLI insurance policies Baal Jeevan Bima is a policy that is designed to cater to the needs of rural children. This policy is available to a maximum of 2 children of the same parent. If you have RPLI insurance, then you are eligible for this insurance coverage.

Eligibility Criteria

Parameters	Description
Minimum entry age	5 years
Maximum entry age	20 years
Maximum sum assured amount	Rs. 1 lakh or equal to the amount of sum assured of the parent, whichever is less
Maximum number of children to be insured	2 of the same parent
Age of the parent	Not more than 45 years

Major Benefits of Children Policy (Baal Jeevan Bima)

The important benefits are as follows.

If the policyholder dies within the policy tenure of an active policy then the future premiums under this policy will be waived off. The benefits of the policy will not be affected. If the child dies within the policy term, then the death benefit will be paid to the policyholder.

If the parent policyholder pays the premiums of the policy for 5 years without any break then this policy can be made into a paid-up policy.

According to the latest bonus rate, the bonus to this policy is Rs. 48 per Rs. 1000. This benefit is accrued yearly. It will be paid once the policy matures or along with the death benefit.

This policy is very much affordable. The premium amount starts at Rs. 5.92. If the policy tenure is low then the premium amount increases.

This policy is available in the Indian Office. Therefore, it is easily accessible. One can also transfer this scheme from one branch of the post office to another.

One can pay the premium of the policy either by cheque or cash.

How can you buy Children Policy (Baal Jeevan Bima)?

This policy can be purchased either online or offline. Both the processes are described below.

Online Procedure:

Visit the official website of the Indian Post.

On the top of the page, there will be the insurance tab. Click on that.

Click on the Rural Postal Life Insurance option.

Here, you have to provide certain details such as your name, address, etc.

Select the Children Policy (Baal Jeevan Bima).

After that, you again have to put in the required details.

Based on the given credentials, the premium amount will be displayed. Check everything.

After that, pay the premium amount online. Download the policy document for future reference.

Offline Procedure:

Go to one of the official branches of the Indian Post Office. Approach the customer’s desk. Talk to the customer executive. He/she will guide you through the buying process of this scheme.

How Does the RPLI Child Plan work?

If you want to purchase this policy, then either opt for an online or offline process of buying. The policy has to be taken in the name of the parent, be it mother or father. However, the primary beneficiary of this scheme has to be the child. Maximum 2 children are allowed to be insured under this policy. Suppose the parent already has an endowment policy or whole life policy of the sum assured which is more than the child policy, then he/she can add this child policy to their existing policy. The parent of the scheme has to pay the premium regularly to keep the policy active. When it comes to the pre-policy health check-up of the child, it is not mandatory. However, the child has to be in a healthy condition.