Bal Jeevan Bima: The Post Office Insurance Scheme for Children – Comprehensive Guide 2023

Bal Jeevan Bima: An Overview

Insurance is an essential financial instrument that provides individuals and families with a sense of security and protection against unforeseen circumstances. While insurance is typically associated with adults, the Post Office of India recognizes the importance of extending this protection to children as well. In this essay, we will delve into the details of the Post Office Insurance Scheme for Children, known as Bal Jeevan Bima. This scheme is designed to offer financial security to children between the ages of 5 to 20, ensuring their well-being and future financial stability.

The Bal Jeevan Bima scheme is a unique offering from the Post Office of India. It is tailored to cater to the insurance needs of children, providing them with a financial safety net from a young age. Under this scheme, up to two children of the policyholder can be covered, offering a comprehensive solution for parents seeking to secure their children’s futures.

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Eligibility Criteria

To enroll in the Bal Jeevan Bima scheme, children must meet certain eligibility criteria. They should be aged between 5 years to 20 years, ensuring that a broad age group of children can benefit from this scheme. The maximum sum assured under this policy is Rs. 3 Lakhs, providing substantial coverage for the insured child.

Age Limit for Parents

While children are the primary beneficiaries of the Bal Jeevan Bima scheme, there are also age restrictions for parents who wish to purchase this policy. Parents who are policyholders should not be above 45 years of age, ensuring that the policy remains accessible to a wide range of families.

Premium Payment and Benefits

One of the notable features of the Bal Jeevan Bima scheme is the premium structure. In the unfortunate event of the policyholder’s death, no premium is payable. In such cases, children will receive the full sum assured along with any accrued bonuses upon completion of the policy term. This provision eases the financial burden on the family during challenging times, allowing children to continue benefiting from the policy.

Premium payments for the Bal Jeevan Bima policy are the responsibility of the parents. It is crucial to maintain consistent premium payments for a minimum of five years to keep the policy active. This requirement ensures that the child’s financial protection remains intact throughout the policy term.

No Loan or Surrender Option

Unlike some insurance policies, the Bal Jeevan Bima scheme does not permit policyholders to take loans against the policy’s value. Additionally, the policy cannot be surrendered, emphasizing the long-term commitment of the policy to safeguard the child’s future. This feature ensures that the funds allocated to the policy are preserved solely for the child’s benefit.

No Medical Examination Required

Obtaining insurance coverage often involves medical assessments to determine the applicant’s health condition. However, the Bal Jeevan Bima scheme simplifies the process for children. They do not need to undergo a medical examination to enroll in this policy. This provision streamlines the application process, making it more accessible for parents seeking to secure their child’s future.

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Bonus Structure

The bonus structure for the Bal Jeevan Bima policy aligns with that of the endowment policy. The final bonus rate is Rs. 52 per sum assured of Rs. 1,000 per annum. This bonus rate ensures that the policy’s value continues to grow over time, ultimately providing a more substantial financial cushion for the child.

Flexible Premium Payment Options

To accommodate the diverse financial needs of policyholders, premium payments for the Bal Jeevan Bima policy can be made on a monthly or quarterly basis. This flexibility allows parents to choose a payment schedule that best suits their financial situation, making it easier to commit to the policy’s premium payments.


In conclusion, the Bal Jeevan Bima scheme offered by the Post Office of India is a commendable initiative that prioritizes the financial security of children. By providing a comprehensive insurance solution tailored to the unique needs of children, this scheme offers peace of mind to parents and guardians. Its flexible premium payment options, bonus structure, and accessibility make it a valuable tool for securing a child’s future. As a result, the Bal Jeevan Bima scheme stands as a testament to the Post Office’s commitment to serving the diverse financial needs of Indian families and safeguarding the aspirations of the younger generation.

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