Rural Postal Life Insurance (RPLI) is one of India’s finest insurance schemes. It started with the aim of providing insurance to rural people in India. Several schemes are regulating rural postal life insurance. RPLI came into existence after the Malhotra Committee’s recommendation. As per the committee’s report, only 22% of the insurable population of India in 1993 had been insured. It was advised to extend the coverage of insurance for the rural people of India. The postal department of India has a vast network of offices in India’s rural and urban areas. Therefore, it is simple for the Indian postal service to spread awareness of life insurance. The already spread network helped in saving money and time.

The prime object of the RPLI is to give insurance cover to rural people. Under Rural Postal Life Insurance, there are several schemes, and one of them is Children Policy in post office (Bal Jeevan Bima). The Bal Jeevan Bima scheme focuses particularly on the future of the children of the policyholder. Other than this, there are five more policies or schemes available for the rural people of India. To avail RPLI children policy, you need to fulfill eligibility criteria.

Eligibility for Bal Jeevan Bima

There are some age criteria, location, and other factors that are considered. If the candidate fulfills these criteria, the person will only be granted Children Policy in the post office.

 Particulars  Details
Minimum age required for child 5 years
Maximum age required for child 20 years
Location Residing in rural parts of India
Maximum children allowed per family 2
 Maximum age of the primary policyholder 45 years

Features of Bal Jeevan Bima

Bal Jeevan Bima Post office has some salient features that one should know before availing of this policy.

  • As per the children’s policy, the children of the policyholder will get insurance.
  • Parents are allowed to enroll only two children.
  • Children of age must be above five, and less than 20 years will be considered.
  • The maximum sum assured is rupee 1 lakh or equal to the sum assured of the policyholder(parent), whichever is less.
  • The age limit of the policyholders must not exceed 45 years of age.
  • On the death of the policyholder, no premium is required to be paid. Total sum assured and bonus accrued shall be paid on completion of the term.
  • Policyholders/Parents pay for the children’s policy.
  • Medical examination of children is not mandatory.
  • ​Attract the bonus rate applicable for Endowment policy (Santosh), i.e., the last bonus rate is ₹ 48/- per ₹ 1000 sum assured per year.

The post office Bal Jeevan Bima scheme has several benefits such as accessibility, low premiums, changing nominee, policy renewal, duplicate policy bond, etc. These are some benefits that no other life insurance provider can offer. In addition, the RPLI children policy and other schemes offer the highest returns in the country. Any parent can apply for the Bal Jeevan Bima Post office.