Nowadays, in this era of inflation, parents start worrying about their future from the birth of their children. Many parents start investing in the birth of their children to make their future better. In such a situation, if you are also thinking of doing investment planning for your children, then Bal Jeevan Bima Yojana of Post Office can prove to be a better option. In this scheme, you can deposit lakhs of rupees for your children’s education and other needs by investing just Rs 6 daily. So let’s know about the Bal Jeevan Bima Yojana premium calculator…
What is Bal Jeevan Bima Yojana?
Table of Contents
Bal Bima Yojana of Post Office comes under Rural Postal Life Insurance. This is a special insurance scheme for children. This plan can be purchased by the parents of the children. But to buy this plan, the age of the parents of the children should not be more than 45 years. This means that if your age is more than 45 years, then you cannot take advantage of this plan. Bal Jeevan Bima is for children aged 5 to 20 years. Under this, the policyholder i.e. the parents of the children can include only two children in this scheme.
Bal Jeevan Bima Yojana Premium Calculator:
Let us tell you that under the Child Life Insurance Scheme, you can deposit a premium of Rs 6 to Rs 18 daily for your children. If a policyholder buys this policy for 5 years, then he has to pay a premium of Rs 6 every day. But if this policy is bought for a period of 20 years, then a premium of Rs 18 will have to be paid daily. In this scheme, you have to deposit the premium on a monthly, quarterly, half-yearly and yearly basis. After the maturity period of this policy, you are given a sum assured of Rs 1 lakh.
Under this scheme, if the policyholder i.e. the parents die before maturity, then the premium is waived. In such a situation, the child does not have to pay the premium of the policy. This policy becomes a paid-up policy after paying a regular premium for 5 years. At the same time, under child life insurance, you are given a bonus of Rs 48 every year on a sum assured of Rs 1000.
Bal Jeevan Bima Yojana Apply Online Process:
Applications for Bal Jeevan Bima Yojana will be offline, so to apply, parents will have to go to the post office near them. Go to the post office and get the Bal Jeevan Bima application form. Now fill all the information asked in the application form carefully and submit the form to the same post office along with the important document.
Bal Jeevan Bima Yojana Required Documents:
To apply for Bal Jeevan Bima Yojana of Post Office, you must have all the documents mentioned below.
- Child Life Insurance Scheme Application Form.
- Children’s Aadhar Card.
- Birth Certificate.
- Address Proof.
- Aadhar Card of Parents.
- Phone Number.
- Passport Size Photo.