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This is a great scheme of the post office for children, get one lakh by depositing 6 rupees daily

Government Scheme: Lakhs of rupees are needed for children’s education and marriage. In such a situation, investment planning for children should be started from birth itself. Many government schemes bear the expenses from children’s education to marriage. If you are also looking for a better option for children, then you are being told about a special scheme of the Post Office.

The name of this post office scheme is Bal Bima Yojana. This insurance plan has been made for children. Parents can buy Bal Bima Yojana in the name of children. However, its nominee can be made only to children. This scheme covers only two children of a family. Parents above 45 years of age cannot buy this plan for their children.

Child Life Insurance for children aged 5 to 20 years

This children scheme covers children between the age of 5 to 20 years. In this scheme, premium is deposited on monthly, quarterly, half yearly, yearly basis. Under the Child Life Insurance Scheme, a premium ranging from Rs 6 to Rs 18 can be deposited every day. In this plan, a sum assured benefit of Rs 1 lakh is given on maturity.

Features of Child Life Insurance Scheme

    • This scheme can give benefits to only two children.
    • To invest, the age of the children should be between 5 to 20 years.
    • The minimum sum assured of one lakh is available.
    • The age of the policy holder should not exceed 45 years at the time of purchasing the policy.
    • If the policy holder dies before the maturity of the policy, then in such a situation the child will not have to pay the premium for the policy. After the end of the policy term, the child will be given the full maturity amount.
    • The premium of the policy has to be paid by the parents.
    • Loan benefit is not given on this.
    • This scheme can be surrendered after 5 years.
    • On the sum assured of Rs 1000, you will be given a bonus of Rs 48 every year.

 

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