As soon as children are born, parents start thinking about their upbringing, future expenses, education marriage etc. This happens with all parents. This is why smart parents opt for investment. One such post office scheme is that it also provides life insurance coverage to children and also provides guaranteed returns. We are talking about the Post Office Bal Jeevan Bima Yojana. So, see below Bal Jeevan Bima Yojana reviews.
What is Bal Jeevan Bima Yojana?
The Post Office under Postal Life Insurance has started a Child Life Insurance Scheme. Parents can buy Bal Jeevan Bima for their children aged 5 to 20 years. But the children will have to be made the nominees.
Only those parents whose age is not more than 45 years can invest in Post Office Bal Jeevan Bima Yojana. According to the scheme, only two children can be made nominees. After the maturity of the policy, the parents will be given a maximum of three lakh rupees and some bonus as well.
Bal Jeevan Bima Benefits:
Every parent wants their children not to have to face any kind of problem. Therefore, they start investing in many schemes from their birth. If you invest in Bal Jeevan Bima Yojana, then you get the following benefits.
- According to the Bal Jeevan Bima Scheme, if the parents die before maturity, then the children do not have to pay the premium.
- The policyholder is allowed to pay monthly, quarterly, half-yearly, and yearly premiums at his convenience.
- According to this scheme, if the child dies, the nominee will be given a fixed amount and some bonus.
- On maturity, the entire money is given to the policyholder.
- After paying the premium regularly for 5 years, this policy turns into a paid-up policy.
Bal Jeevan Bima Yojana Features:
- Only two children of every family will get the benefit of this scheme.
- People up to 45 years of age can buy this insurance.
- According to Bal Jeevan Bima Yojana, only parents can pay the premium of the policy.
- Under this scheme, a bonus of Rs 48 is also available every year on insurance of Rs 1000.
Bal Jeevan Bima Yojana Reviews:
If you are interested in Bal Jeevan Bima Yojana and are planning for insurance for your children, then with the help of Bal Jeevan Bima Yojana Premium Chart given below, you can choose the insurance that gives good benefits. So, see below the Bal Jeevan Bima Yojana reviews.
Mrs. Mehta, Delhi
“I want the best for my child because. However, following my husband’s unexpected death last year, I became extremely concerned for my children’s future and what would happen to my daughter if I were to go too. After consulting with an expert, Edelweiss Life’s Wealth Secure+ plan was recommended. I currently have a 100-year life insurance policy that covers my child and me, in addition to earning competitive returns from market-linked investments. Now that my child’s future stability is assured, I can rest easy.”
Mr. Pandey, Lakhnow
“Both of our daughters are exceptionally intelligent. As their parents, we want them to put in a lot of effort and succeed. However, one persistent concern was the growing expense of education. After consulting with my spouse, we both agreed to make a contribution towards an Edelweiss Life ULIP plan. In addition to having a solid insurance policy that will safeguard our daughter’s future in the event that any of us pass away, we are guaranteed our returns. I’m relieved that my girls will be able to soar higher and fly thanks to their wings.”