[ad_1]
Patna. The Department of Posts has introduced a new scheme for children called Bal Jeevan Bima. In this, by investing only six rupees every day, you can already collect the amount for the education expenses of your sons and daughters. Maximum Sum Assured is Rs.3 Lakhs or equal to the Sum Assured of the parent, whichever is less. Only the parents of the child can buy this scheme. Parents above 45 years cannot invest in this scheme.
You can invest for the age of five to 20 years
Senior Postal Superintendent of Patna Division, Rajdev Prasad told that investment can be made in this scheme for children between the age of five to 20 years. Under this scheme, parents can buy a policy for only two of their children. He told that in this scheme you can deposit a premium ranging from Rs.6 to Rs.18 per day for your child. For five years, a premium of six rupees has to be deposited daily in this policy. In this plan, a premium of Rs 18 has to be paid for 20 years. On maturity of the policy, you will get a lump sum amount of one lakh rupees.
No premium on children policy on death of parent
Prasad said that on the death of the policy holder (parent), no premium will have to be paid on the children’s policy. On completion of the term, the full sum assured and accrued bonus will be paid, provided the premium is paid continuously for five years. The Senior Postal Superintendent told that medical examination of the child is not necessary. However, the child must be healthy and the risk shall commence from the day of acceptance of the offer. The Final Bonus rate is Rs.52 per Rs.1000 Sum Assured per annum.
[ad_2]