PLI Plans For Girl Child

PLI or Postal Life Insurance is the oldest insurer in the country. It extends its policies to employees of the Central and State Governments, Public Sector Undertakings (PSUs), Defence and Para-Military Services, Banks, Educational Institutions, corporate professionals, and companies listed with the National Stock Exchange (NSE) / Bombay Stock Exchange (BSE). PLI offers an insurance policy specifically for your children under the name of Bal Jeevan Bima. 

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Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

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  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

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We are rated~
rating
6.7 Crore
Registered Consumers
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3.4 Crore
Policies Sold

Postal Life Insurance For Girl Child

Postal Life Insurance offers an exclusive life insurance policy for children, called the Bal Jeevan Bima. This can be bought as a PLI plan for your girl child if you are an employee of the Central and State Governments, Public Sector Undertakings (PSUs), Defence and Para-Military Services, Banks, Educational Institutions, etc. One major reason why you should consider buying this policy is that it falls under the purview of the Government of India making it a reliable and safe option. Further, the policy can ensure that your daughter and her needs are taken care of even in your absence.

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PLI Child Policy - Bal Jeevan Bima

Bal Jeevan Bima is a PLI plan for girl child that you can buy if you are an existing PLI policyholder. To be eligible to buy this policy, you should already have an active cover under PLI’s Whole Life Assurance policy or its Endowment Assurance policy.

If you were to die during the policy term, the premiums are waived off for the child policy. This ensures that the policy continues for the benefit of your daughter without her struggling to pay the premiums. The proceeds from this policy along with the accumulated bonus can be used by your daughter to finance her future education.

  1. Benefits Offered Under Bal Jeevan Bima

    • On the child’s death - Under this PLI plan for girl child, the parent shall receive the sum assured of the death of their daughter if she dies within the policy term.

    • On the parent’s death - If the parent dies within the policy term of their own life cover, future premiums for the child policy are waived off. The girl child will receive the death benefit amount and the maturity benefit under Bal Jeevan Bima on the date of maturity of the cover.

    • On survival of the parent & the child - In case both the parent and the child survive the policy term, you can claim the maturity proceeds from each policy on the respective dates of maturity.

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    *Standard T & C Apply
  2. Key Features Of PLI Bal Jeevan Bima

    • A parent can cover a maximum of two children.

    • Bonuses accrue every year at the rate of Rs. 52 per Rs. 1000 of the sum assured under the parent’s policy.

    • It does not require the child to undergo any medical examination.

    • The policy does not acquire a surrender value.

    • No loans are admissible under the policy.

    • It acquires a paid-up value if premiums are duly paid in full for a period of 5 years.

  3. Eligibility Of PLI Bal Jeevan Bima

    Criteria Minimum Maximum
    Entry Age of Children 5 years 20 years
    Entry Age of Policyholder (Parent) NA 45 years
    Number of Children Maximum of 2 children
    Maximum Sum Assured Rs. 3 Lakh or equal to the sum assured under the parent’s life cover (whichever is less)
    Annual Bonus Rate Rs. 52 per Rs. 1,000 sum assured

    This PLI plan for girl child is a good option for those looking for low premiums against the desired sum assured amount. Note that Bal Jeevan Bima can be clubbed with either PLI Suraksha (whole life assurance) or PLI Santosh (endowment assurance) policy.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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