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Baal Shikshya Beema Yojana

In the Child Education Term Life Insurance Scheme brought by Nepal Life to ensure the future of their beloved children and proper education and social work at the risk of themselves and their children, the parents are also insured at the same time. By purchasing this insurance policy, the parent can avail the loan facility after one year of insurance. This insurance plan brought by Nepal Life for the benefit of both parents and parents can be purchased from the birth of the child. Under this scheme, maximum sons and daughters up to 18 years of age can be insured.

The age of the proposer should be between 20 to 65 years. Parents can get insurance for their children for a period of 5 to 30 years, so low-income families can also buy at a lower fee.

This insurance plan is designed to ensure that the age of the insured child is not more than 30 years and the age of the proposer is not more than 70 years. The insured parent can pay the premium annually, semi-annually, quarterly and monthly.

Parents will be able to insure their children from a minimum of Rs 5,000 to a maximum of Rs 2.5 million. But in the case of parents, up to Rs 10 million can be insured. In addition, the insurance of the parents can be insured equally.

In case of risk bearing fee, the child's insurance will cost Rs. 1 per thousand. In addition, one percent discount will be available for insurance of Rs 5 lakh to Rs 1 million and two percent discount for insurance above Rs 1 million.

Surrender value can be obtained only in case of completion of two years from the date of commencement of the policy and also receiving 3 annual premiums. Loan will be obtained in insurance with surrender value received.

If the proposer is alive till the end of the insurance period, the sum assured of the proposer and the earned bonus amount will be paid to the proposer at the end of the insurance period. In case of death of the proposer (insured) within the insurance period, the bonus amount earned up to that period will be paid and the premium to be paid thereafter will be waived.

At the end of each year till the end of the insurance period after the death of the proposer, an amount equal to 10 percent of the insured of the proposer is paid to the insured (deducted). Payment is made at the rate of 10 percent per annum at the end of the insurance period.

Payment at the rate of 10 percent of the sum insured till the end of the insurance period, if it is less than the sum insured, the remaining amount is also paid at the end of the insurance period.

In case of death of the child after the commencement of the risk, the sum insured of the child will be paid to the desired person and the insurance will continue (the proposer has to pay regular premium) and at the end of the insurance period the proposer will be paid the insured and earned bonus. If the child is alive at the end of the insurance period with or without the death of the proposer, no amount is available for the insurance of the child.

In this plan, since an additional premium of Rs. 1 per thousand is paid per thousand insured, the risk is borne from 2 years after the date of commencement of insurance or after the completion of 5 (five) years of age of the child.

This insurance policy covers the life of the child and the proposer (father or mother) in the same policy. Proceeds from the termination of insurance can be used for higher education and social work of your children. In case of the sudden death of the proposer (father or mother) during the insurance period, an annual fee is received for the education of the children, ensuring the upbringing and education of the child. Since the loan facility is available one year after the commencement of insurance, there is always a liquidity facility.


Baal Shikshya Beema Yojana