PLI Children Policy (Bal Jeevan Bima) Calculator

PLI Children Policy (Bal Jeevan Bima) Calculator

Secure your child’s future with lower premium and guaranteed maturity benefits

Postal Life Insurance
Children Policy (Bal Jeevan Bima) Calculator

Calculate premium and maturity benefits for your child’s education and future with PLI Bal Jeevan Bima policy.

Bal Jeevan Bima is specially designed for children with premium paid by parents, lowest premium rates, and guaranteed maturity for education and future needs.

👶 Special Features: Children’s Policy

  • Child Age: Policy for children aged 5-20 years
  • Maximum Sum Assured: ₹3 lakh or equal to parent’s sum assured, whichever is less
  • Lowest Premium: 35% cheaper than regular endowment plans
  • Parent Pays: Premium paid by parent/guardian on child’s life
  • Maturity Benefit: Sum Assured + Bonus payable to child
  • Education Planning: Perfect for child’s education expenses
  • Guaranteed Returns: Bonus accumulation guaranteed

🛡️ Premium Waiver Benefit:

Special Protection: If parent dies during policy term, future premiums are waived off but policy continues with full benefits. Child gets full maturity amount including bonus without paying any more premium. This ensures child’s future is secured even if parent is not there.

📌 Note: This calculator shows premium paid by parent on child’s life. Child must be between 5-20 years old. Maturity age should be at least 20 years for education/career planning.
✓ CURRENTLY CALCULATING FOR:
PLI Children Policy (Bal Jeevan Bima)
ℹ️ Child must be between 5 and 20 years old
25 years
18 years 45 years
💡 Recommended: Age 20-25 for higher education expenses
₹1,00,000
₹20,000 ₹3,00,000

🎓 Child’s Maturity Benefits

🎂
Maturity Age
25 years
💰
Maturity Amount
₹0
📈
Total Bonus
₹0
🎯
Returns
0%
Child’s Current Age
–
Policy Term
–
Monthly Premium
–
Total Maturity
–
Premium & Benefits Calculation Details
Policy Name PLI Children Policy (Bal Jeevan Bima)
Child’s Current Age –
Maturity Age (Child) –
Policy Term –
Sum Assured –
Premium Frequency –
Premium per Payment (Parent Pays) –
Annual Premium –
Total Premium Paid by Parent –
Premium Savings (vs Adult Policy) –
Bonus Rate ₹52 per ₹1,000 per year
Total Bonus Accumulated –
Maturity Amount (Child Receives) –
🛡️ Premium Waiver: If parent dies, future premiums waived Child still gets full maturity
Financial Comparison
₹0
Total Premium Paid
₹0
Bonus Earned
₹0
Maturity Amount
Year-wise Premium & Bonus Accumulation
Year Child’s Age Annual Premium Premium Paid Till Date Bonus Accumulated Total Value
Key Benefits of Bal Jeevan Bima
👶

Designed for Children

Special policy for children aged 5-20 years with parent as premium payer

💰

Lowest Premium

35% cheaper than adult endowment policies – most affordable option

🎓

Education Planning

Perfect for financing higher education and career expenses

🛡️

Premium Waiver

If parent dies, future premiums waived but child gets full maturity

📈

Guaranteed Bonus

Bonus accumulates annually at ₹52 per ₹1000 sum assured

🎯

Maturity Benefit

Child receives sum assured plus bonus at maturity age

⚠️ Important Disclaimer This calculator provides indicative premium and benefit values for PLI Children Policy (Bal Jeevan Bima). Actual values may vary based on:
  • Official premium tables published by Department of Posts
  • Annual bonus declarations by the government
  • Child’s exact age and policy term
  • Policy-specific terms and conditions
Important Rules: Child must be between 5-20 years old. Premium is paid by parent/guardian. If parent dies during policy term, all future premiums are waived but policy continues and child gets full maturity benefit. For accurate details, please visit your nearest Head Post Office.
PLI Children Policy (Bal Jeevan Bima) — Everything You Need to Know
Postal Life Insurance · India Post

PLI Children Policy (Bal Jeevan Bima) — Everything You Need to Know

Assume something happens to you tomorrow — your child has what? Who pays next month’s school fees? Who handles everything? Most parents never actually sit down and answer this question properly. They keep saying “I’ll sort it out” and then life happens and they never do.

That’s where Bal Jeevan Bima comes in. This is India Post — same people who’ve been running letters and parcels to every village and city in this country since 1st February 1884. Over 140 years. 46 lakh plus policies active today under the Department of Posts, Government of India. They’re not going anywhere.

The Bal Jeevan Bima Calculator is free, built on official POLI rules — gives you maturity value, bonus accumulation, premium structure breakdown, GST calculation, applicable rebates and full policy projection report in seconds. No login. No charges.

🌐 Official India Post PLI Portal
Government of India · India Post

Bal Jeevan Bima — Children Policy

Child coverage up to age 25 · Dept. of Posts · PLI

  • Child age entry 5 to 20 years
  • Maturity age 25 years
  • Max SA: ₹3 lakh or parent SA (whichever less)
  • Bonus: ₹52 per ₹1,000 SA per year
  • Premium waiver on parent death
  • Max 2 children per family
  • Section 80C & 10(10D) tax benefits
  • No medical examination required
🧮 Use Bal Jeevan Bima Calculator
What Makes It Unique

How is This Policy Different?

Nobody tells you this about this children policy. You buy it for your child today. Pay every month. Three years later — accident, illness, something nobody expected — you’re no more. What happens?

Every private plan out there — policy lapses. No premium coming in, coverage gone, child gets nothing. But here the scene is different.

The Dual Protection Parent-Child Setup

🛡️

When the policyholder parent dies — no premium needs to be paid after that. Not a single rupee. The children policy keeps going by itself till the end.

💰

On completion of term child receives full sum assured plus all bonus accrued. Every rupee. Nothing touched.

⭐

That’s the premium waiver on parent death. That one feature is why this policy makes sense for parents specifically.

👨‍👧

This builds a dual protection parent-child setup — you pay while you’re here, policy protects your child even after you’re not. Real family financial security — not just words on a brochure.

📈

Bonus rate follows Endowment policy Santosh — last bonus rate is ₹52 per ₹1,000 sum assured per year. Fixed. No market dependency. No fund manager making calls with your child’s future.

The Bal Jeevan Bima Calculator is a free online calculator tool, built on official POLI rules — gives you maturity value, bonus accumulation, premium structure breakdown, GST calculation, applicable rebates and full policy projection report in seconds. No login. No charges.

Who Can Apply

Eligibility Criteria — Who Gets This Policy?

👨‍👩‍👧 Parent Requirements

Existing PLI policy is a must
Age not over 45 years when buying this children policy
Stays responsible for payment while alive
Maximum two children covered per family
One child one policy rule — one policy per child, strict, no exceptions

👧 Child Requirements

Child age entry 5 years minimum, 20 years next birthday maximum
Runs to maturity age 25 years — full range ages 5 to 25 years
Must be healthy — no medical examination but health declaration required
Risk begins from day of acceptance of proposal
Maximum sum assured ₹3 lakh or equal to parent SA, whichever is less
Sum assured minimum ₹20,000 going up in steps of ₹10,000

🏛️ People Who Qualify for PLI

More people are eligible than they realise:

Central Government Employees State Government Employees Defence Personnel Para Military Forces Railways Staff Telecom Staff PSU Employees Nationalized Banks Employees SBI Employees RBI Funded Institutions NABARD Funded Institutions Local Bodies Cooperative Societies CBSE Schools Staff ICSE Schools Staff State Board Schools Staff NAAC Accredited Universities AICTE Institutions MCI Institutions Doctors Engineers Chartered Accountants Company Secretaries MBAs Lawyers Architects NSE Listed Companies BSE Listed Companies

The policy is generally available for people between 19 years to 55 years of age, and it can continue upto 59 years. The premium paying age usually falls around 55, 58, or 60 years, depending on the plan you choose.

Policy Features

Complete Feature List

Everything this policy offers — no surprises, no fine print hidden from you:

✓Life insurance cover for children of PLI policy holders
✓Maximum two children — one child one policy rule, zero exceptions
✓Child age entry 5 years to 20 years next birthday — ages 5 to 25 years
✓Maturity age 25 years
✓Maximum sum assured ₹3 lakh or equal to parent SA, whichever is less
✓Sum assured minimum ₹20,000 in multiples of ₹10,000
✓Parent not over 45 years at entry
✓Parent dies — no premium, full sum assured and bonus accrued on completion of term
✓Bonus rate ₹52 per ₹1,000 sum assured per year — Endowment policy Santosh
✓No loan admissible
✓No medical examination — child healthy, risk from day of acceptance of proposal
✓Surrender facility not available
✓Paid up only after premiums paid continuously 5 years
✓Section 80C tax exemption under Income Tax Act
✓Section 10(10D) maturity tax exemption under Income Tax Act
✓Government of India backed, Department of Posts
Documentation

Documents Needed for Applying

The paperwork here is nothing scary. For your child just get proof of age sorted — Aadhaar card, birth certificate or school leaving certificate, any one works.

🔍 Verification Required

You need a sign off from your DO, FO or any registered PLI agent. That’s it — nothing unusual.

🏢

Departmental Officer (DO)

🕵️

Field Officer (FO)

✅

Registered PLI Agent

Address proof is simple too — voter ID, utility bill, passport or driving license. Keep child’s date of birth ready in given format.

Child Documents

Aadhaar Card
Birth Certificate
School Leaving Certificate
Voter ID
Utility Bill
Address Proof

Parent Documents

PAN Card
Employment Verification
Designation Confirmation
Health Declaration
Lifestyle Declaration
Spouse Financial Declaration
Premium Details

Premium, GST & Rebate Structure

Everything runs on official POLI rules. Your premium depends on entry age based rate and maturity age based rate of your child.

Premium Calculation:

Total payments = policy term × 12
Rate slabs based on child entry age + sum assured

Rebate on Premium:

Here you get money knocked off every month. Here’s how it works:

Rebate per month = ₹1 per month per ₹20,000 SA
Rebate formula = sum assured ÷ 20,000
Total rebate = sum assured ÷ 20,000 × term × 12

GST Structure:

Tax ComponentRate
GST First Year4.5%
CGST First Year2.25%
SGST First Year2.25%
Second Year Onward GST2.25%
After 22 September 2025No GST at all

GST rate multiplication already sitting inside children policy insurance calculator — what you see on screen is what you actually pay, no surprises.

Bonus Formula

Bonus = sum assured × 52 × term ÷ 1,000

➕

Add bonus to sum assured = total maturity amount

➖

Minus all premiums paid = net returns gain

📊

Real math — no guessing, no projections

Real Numbers

Raunak and Rani — Real Numbers, Real Difference

Two kids, same sum assured, different terms. See what changes.

👦 Raunak — ₹2 Lakh, 10 Years

Raunak’s parents started the policy when he was young, kept it for 10 years:

Entry ₹2,00,000 SA · 10 Year Term
Maturity Age 20 Years
Bonus = ₹2,00,000 × 52 × 10 ÷ 1,000 = ₹1,04,000
₹3,04,000 Raunak collects at maturity age 20 years

Net returns gain = ₹3,04,000 minus premiums paid over 10 years

👧 Rani — ₹2 Lakh, 15 Years

Rani’s parents picked the same amount but stretched it 5 more years:

Entry ₹2,00,000 SA · 15 Year Term
Maturity Age 25 Years
Bonus = ₹2,00,000 × 52 × 15 ÷ 1,000 = ₹1,56,000
₹3,56,000 Rani collects at maturity age 25 years

Net returns gain = ₹3,56,000 minus premiums paid over 15 years

Same policy. Same ₹2 lakh. Just 5 extra years. Rani gets ₹52,000 more than Raunak. That’s what annual bonus growth does to guaranteed maturity benefits when you give it time — no market, no stress, just the number going up every single year.

Protection Scenarios

What Happens in Two Different Cases?

😔 If the Parent Passes Away During Term

Premium stops the same day. Policy keeps going. Child collects full sum assured and bonus accrued on completion of term. Full death benefit — exactly as promised, no reduction. Unforeseen circumstances protection doing exactly what it’s supposed to. Genuine child financial security and family financial security.

🎉 If the Parent is Alive When Policy Matures

Child gets complete maturity payout at maturity age 25 years — sum assured plus bonus accrued. College fees, startup money, wedding expenses — their choice. Dual protection parent-child structure held up in both situations.

Calculator Guide

How to Use the Calculator

Visit the calculator and do this:

01

Enter Child DOB

Enter child date of birth in DD/MM/YYYY format.

02

Input Sum Assured

Input sum assured between ₹20,000 and ₹3,00,000 in steps of ₹10,000.

03

Select Policy Term

Select policy term years — keep maturity age 25 years as the end goal.

04

Click Calculate

View premium structure, rebate, GST, bonus ₹52 per ₹1,000 building every year.

05

Policy Performance

Check policy performance analysis to see exactly how your policy grows year by year from start to maturity.

06

Compare & Decide

Compare different amounts till one fits your budget. Determine net returns gain and check your affordability analysis.

Bal Jeevan Bima premium calculator produces a complete policy projection report — maturity value, bonus accumulation, investment returns, applicable rebates, GST calculation. It just takes two minutes. No pressure or follow-up calls. All calculations are right in front of you so you can make informed decisions without depending on anyone to explain it to you.

Honest Comparison

An Honest Comparison with Private Plans

ULIPs, term plans, private child policies — they all have their pitch. Fine. But ask one question — which of them stops charging your family after you die and still pays your child the full amount at maturity? None. That’s the gap Bal Jeevan Bima fills.

🛡️

Premium Waiver

Parent dies — no more premiums. Policy continues. Child gets full amount. No private plan does this.

💰

Section 80C

Section 80C deduction on premiums — real tax saving every year you’re paying.

📜

Section 10(10D)

Maturity payout completely tax-free under Income Tax Act. Money comes to your child without deductions.

🏥

No Medical Exam

Child healthy declaration is all you need. No medical examination — no hidden entry barriers.

📊

Secure Returns

Guaranteed maturity benefits — market crashes don’t affect your child’s payout. Zero market dependency.

🏛️

Government Promise

Financial protection here is a government promise — not a fund manager’s estimate. Department of Posts since 1884.

Limitations

What You Can’t Do With This Policy

Bal Jeevan Bima won’t make anyone rich overnight. It’s not trying to. Know the limits before you start:

⛔

No loan admissible — can’t use it as collateral anywhere

⛔

Surrender facility not available — full-term commitment; think before starting

⛔

Paid up only kicks in after premiums paid continuously 5 years

⛔

Parent age under 45 years — no flexibility on this

⛔

Maximum two children insured within aged 5 to 25 years

⛔

One child, one policy rule — no exceptions whatsoever

Bal Jeevan Bima won’t make anyone rich overnight. It’s not trying to. What it does is sit quietly in the background for 10 or 15 years — and when your child turns maturity age 25 years, the money shows up. Whether you were there to see it or not. India Post and Department of Posts Government of India made that commitment and they stick to it.

Important Terms

Some Important Policy Terms You Should Know

Policy Terms — In Simple Language

In simple terms, the assured amount along with the accrued bonus becomes payable either to the insured or to their legal representatives / assignees. This happens in case of the death of insured or on the date of maturity, whichever occurs earlier, as long as the policy is in force on the date of claim.

The benefit may also be considered on the date of maturity or when the insured is attaining age 25 years. In case the policy is discontinued or policy surrendered, the payable amount is adjusted accordingly.

⚠️ Things to Be Careful About: If premiums are not paid regularly, the policy may reach a date of cessation. So, the insurant should make sure that premium payment continues on time to keep the benefits active.

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