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Bal Jeevan Bima- Rural Postal Life Insurance Plan

Bal Jeevan Bima is an insurance policy for children extended by Postal Life Insurance. The policy is also available for purchase under rural postal life insurance (RPLI) schemes. You can purchase this rural child policy in post offices and pay respective premiums there too. There is also a provision to buy this policy online through India Post’s website should the policyholder choose to.

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About Bal Jeevan Bima Child Policy

Bal Jeevan Bima is an RPLI child policy that offers life insurance coverage to a maximum of 2 children of the same parent. The policyholder (who is the parent) has to pay the premiums against the child life cover. On the death of the policyholder, the policy continues, but the premium payments are waived off. 

Key Features Of RPLI Child Policy Bal Jeevan Bima

  • This post office child policy is aimed at insuring the lives of the children of rural postal life insurance policyholders. 

  • Premiums payable towards the policy shall be waived off on the death of the policyholder (the parent). 

  • The sum assured along with the annually accrued bonus amount is payable on the completion of the policy term or on the death of the life assured (the child). 

  • Loans are not admissible under this post office rural child policy. 

  • The policy does not acquire a surrender value. 

  • This RPLI child policy does not require the child to undergo a medical examination.

  • Premiums can be paid on a monthly, quarterly, half-yearly, or yearly basis.

Eligibility of Rural Postal Life Insurance - 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. 1 Lakh or equal to the sum assured for the parent’s cover (whichever is less)

Benefits Offered By Bal Jeevan Bima

The following benefits are payable with Bal Jeevan Bima offered under rural postal term life insurance schemes.

Death Benefit - If the parent policyholder dies during the policy term, future premiums payable is waived off by the insurer without any impact on the life cover of the child. If the life assured (the child) dies within the policy term, the sum assured on death is payable to the nominees along with the accrued bonuses. 

Maturity Benefit - If the child covered under this policy survives the policy term, the sum assured on the maturity of the policy is paid out to the policyholder. The accumulated bonus amount also forms a part of the maturity benefit amount. 

Paid-Up Value - If the policyholder pays regular due premiums in full for at least 5 years, Bal Jeevan Bima can be made into a paid-up policy.

Bonus - As per the latest figures, the bonus rate for RPLI Bal Jeevan Bima is Rs. 48 per Rs. 1,000 sum assured. This amount accrues annually and is payable as a lump sum along with the death or maturity benefit. 

Bal Jeevan Bima Child Policy - RPLI versus PLI

Features Rural Postal Life Insurance Postal Life Insurance
Entry Age of Child Minimum: 5 years
Maximum: 20 years
Minimum: 5 years
Maximum: 20 years
Maximum Age of Parent  45 years 45 years
Maximum Sum Assured Rs. 1 Lakh or equal to the cover sum of the parent Rs. 3 Lakhs or equal to the cover sum of the parent
Latest Bonus Rate Rs. 48 per Rs. 1,000 sum assured Rs. 52 per Rs. 1,000 sum assured

Postal Life Insurance (PLI) Child Plan Calculator

The PLI child plan calculator is an online tool featured on the official website of India Post. The PLI premium calculator offers quick monthly, quarterly, half-yearly, and annual premium estimates against the basic sum assured by the policyholder. The estimates are quick, customizable, and free for anybody looking to purchase Bal Jeevan Bima. Using this PLI child plan calculator prior to purchase is recommended because it puts the buyer in a better position to evaluate the affordability of the policy. However, note that due to the changing financial laws in the country, the results should not be construed as definitive. 

How To Use The Rural Postal Life Insurance Premium Calculator?

Before buying any of the rural schemes, the rural postal life insurance premium calculator should be used. This gives you near accurate figures on the premiums that the policyholder will have to pay against the coverage chosen. Here’s how you can use this premium calculator:

  • On India Post’s website, scroll down to Postal Life Insurance and click on it. 

  • You shall be redirected to an external website after clicking on OK. 

  • Under the tab Purchase a Policy, click on Quote. 

  • Fill in the required contact details, DOB, product type (RPLI in this case), sum assured, occupation, gender, state of residence, and the name of the insurance scheme. 

  • Fill in the image captcha and click on Get Quote. 

  • The resulting page offers monthly, quarterly, half-yearly, and yearly premium quotes.


  • How to purchase Bal Jeevan Bima?

    A. Bal Jeevan Bima can be bought offline or online. The offline mode involves you directly purchasing the child policy in post offices. The online mode includes visiting the official website of India Post. 
  • Can I cover all my children under Bal Jeevan Bima?

    A. The maximum number of children that can be covered is capped at 2. If a policyholder has more than 2 children, a separate cover has to be bought. 
  • Why should I buy the RPLI child policy, Bal Jeevan Bima?

    A. The policy can be easily accessed at any of your nearest post offices. The premiums are lower than the market standard. Parents can renew coverage multiple times if the policy lapses due to non-payment of due premiums. 
  • How does the rural postal life insurance child scheme, Bal Jeevan Bima, work?

    A. The policy is bought to ensure life coverage of the child. The policyholder remains the premium paying parent. If the sum assured under a parent’s whole life or endowment-based insurance exceeds the sum assured under the child policy, the latter can be added to the parent’s base policy cover.
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