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  • BhagyaShree Child Welfare Policy

     The Bhagyashree Child Welfare Policy, also known as the Bhagyashree Child Welfare Bima Yojana is a life insurance offering by state-owned insurance companies such as the New India Assurance Company and Oriental Life Insurance Company. The Scheme was set up to provide for orphaned girl children by providing them with life insurance cover. A fixed sum of money would be invested on behalf on the girl, who will receive an annual sum towards expenses until she attains majority.

    Highlights of the Bhagyashree Child Welfare Policy

    The policy provides life insurance cover to one girl child per family in the event of the permanent disability or accidental death of one or both of her parents. The company will make an investment in a specified institution and release a fixed sum of money annually for the girl child’s expenses. Under this policy, the girl child will be covered up to 18 years of age, whereupon she will receive the balance amount as a lump sum.

    Scope of the Bhagyashree Child Welfare Policy

    The policy covers death as well as permanent disability of the parent/parents due to a natural or man-made calamity. Some of the causes listed are snake bite, drowning, death due to floods, landslides, terrorist activity and murder. In the case if women, the policy also covers death or disability due to a surgery such as a hysterectomy, sterilisation, caesarean as well as death due to childbirth.

    Meant to secure and provide for the child’s future, the policy also makes provision for looking after such girl children who are under the age of 6.

    The insurance company would invest a fixed sum of money, at present Rs. 25, 000 in a nationalised bank, with the interest on this amount being paid as an annual stipend to meet the child’s needs until she attains majority.

    If the girl child is below the age of 6, her surviving parent or a guardian will be given a certain annual sum of money to look after her expenses such as education. If the child is above the age of 6, she will receive a fixed scholarship towards her schooling and other needs.

    The sum to be disbursed during the child’s youth is as mentioned below:

    Age Sum to be Disbursed
    0-6 years Rs. 1, 200
    6-12 years Rs. 1, 200
    12-18 years Rs. 2, 400

    Once the girl child attains 18years of age, the balance sum will be disbursed in a lump sum.

    Benefits of the Bhagyashree Child Welfare Policy

    The financial benefits of the Bhagyashree Child Welfare Policy for the child are listed below:

    • A girl child will receive a fund amounting to Rs. 77, 500/-, on attaining maturity on deposit of Rs. 25, 000 by the insurance company at the time of the commencement of the policy. This amount is on payment of the annual premium of Rs. 15 which is borne by the insurance company.
    • The child’s financial future is secured, as she will receive a lump sum on attaining the age of 18, which can be used as she sees fit.

    Eligibility Criteria of Bhagyashree Child Welfare Policy

    For a girl child to be covered under this scheme, she has to be between the ages of 0-18 years.

    Her parents should not be above 60 years of age.


    There are certain exclusions, under which a girl child will not be covered under the Bhagyashree Child Welfare Policy. These exclusions are mentioned below:

    • In the case of a parent’s death or disability caused by a pre-existing disability or condition
    • Where death or disability is caused by an injury due to alcohol consumption or drug use.
    • Death due to an earthquake
    • Death due to suicide or a self-inflicted injury.
    • Death or disability due to insanity
    • Disability or death due to nuclear weapons or nuclear substances
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