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Bal Jeevan Bima Rural Postal Life Insurance Plan

Rural Postal Life Insurance (RPLI) is a scheme under Postal Life Insurance and was launched to provide coverage to people living in the rural areas. There are six policies under RPLI and each of them provides their own set of benefits to its customers.
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Postal Life Insurance (PLI) is the oldest life insurance policy in India, which was launched in February 1884. Rural Postal Life Insurance (RPLI) was introduced in 1995 to provide life insurance cover to people in the rural areas. This scheme has been successful, with over 23.51 million policies until March 31, 2015, mainly because of the extensive network of post offices in rural areas.

There are 6 types of policies under the RPLI, similar to the PLI policies. They are:

  1. Whole Life Assurance (Grama Suraksha)
  2. Convertible Whole Life Assurance (Grama Suvidha)
  3. Endowment Assurance (Grama Santosh)
  4. Anticipated Endowment Assurance (Grama Sumangal)
  5. 10-year RPLI (Grama Priya)
  6. Children’s Policy (Bal Jeevan Bima)

Eligibility Criteria for Bal Jeevan Bima RPLI

To get a children’s policy under the RPLI, you need to meet the following criteria:

Minimum age of child 5 years
Maximum age of child 20 years
Location Residing in rural parts of India (i.e. outside the municipality limits)
Maximum children per family 2
Maximum age of the primary policyholder Less than 45 years

Features of Bal Jeevan Bima RPLI

The RPLI schemes are not restricted to government employees like the PLI schemes. The main objective of the Bal Jeevan Bima scheme is to provide insurance cover to children of persons who already have an RPLI policy. The following are the main features of the children’s policy under the RPLI:

Plan type Life Insurance cover
Policy account Dependent on primary policyholder
Premium payment term Monthly, Quarterly, Half-yearly, Annually
Minimum premium Rs. 5.92 for a policy term of 20 years
Maximum premium Rs. 18.88 for a policy term of 5 years
Maximum sum assured Rs. 3 lakh or equivalent to the sum assured of the main policyholder, whichever is less
Loan on policy Not available
Intermediate withdrawal Allowed after 5 years if all premiums are paid up till then.
Bonus payments Same as Endowment Policy
Surrender terms Policy can be surrendered after 60 months (5 years)

Benefits of Bal Jeevan Bima RPLI

The reason why Bal Jeevan Bima (Children Policy) of the RPLI is highly recommended for the rural populace are:

  • Accessibility: The policy is held with the post offices, which makes is easy to access. You can also transfer it from one post office to another easily. The premium can be paid at post offices with cash or cheque.
  • Low premiums: The premium amounts are very low compared to the sum assured, starting from just Rs. 5.92. The premium amounts increases as the policy tenure goes down. For example,
  • Nominee changes: You can change the nominees any time during the policy tenure.
  • Policy renewal: The policy can be renewed for up to 2 times if it lapses. If the policy is less than 3 years old, it lapses after 6 unpaid premiums, and if the policy is more than 3 years old, it lapses after 12 unpaid premiums.
  • Duplicate Policy Bond: If the original policy document is lost, torn, burnt or mutilated, a duplicate policy bond will be issued.

How Bal Jeevan Bima RPLI Works

To insure the life of your child, you can apply for a Bal Jeevan Bima RPLI policy at the post office. The policy will be in the name of a parent – father or mother – even though the primary beneficiary is the child. At the most 2 children of a family can be enrolled under the Bal Jeevan Bima policy. If a parent already has a Whole Life or Endowment Policy for a sum assured that is more than the amount of the Children Policy, then they can add on the Children Policy to their policy. Once the policy is bought, the parent or the primary policyholder is responsible for payment of premiums.

Medical examination of the child is not mandatory to take this policy, but the child should be healthy on the day of application for the policy. If the principal policyholder dies, the premiums do not need to be paid. The child will receive the sum assured along with bonus at the time of maturity. If the child dies before the end of the policy term, the amount shall be paid to the principal policyholder.

If the policyholder is unable to pay premiums due to a natural calamity such as earthquake, flood or drought in their area of residence, they do not have to pay any interest or fine as late payments charges for up to 12 months from the time of the calamity. 

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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Bal Jeevan Bima Rural Postal Life Insurance Plan Reviews

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  • LIC Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have purchased Jeevan anand policy for my life insurance through life insurance corporation of India, the agent had clearly explain me about the plan benefits and policy coverage , they have given me hard copy as well, the premium amount i use to pay on half yearly basis.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Jun 24, 2019
  • LIC
    LIC Life Insurance
    "Good Service"
    0.5 5.0/5 "Blown Away!"
    I have taken Life Insurance policy through LIC agent .This name of this policy was Jeevan Saral and it is a Maturity benefit policy and the tenure is for 25 years .The premium is paid on quarterly basis and paying the premium on online .The premium amount was Rs.4100 ,There was no issues faced while submitting the documents .This policy is still active.
    Was this review helpful? 0
    , pune
    Reviewed on Jun 24, 2019
  • Bajaj Allianz Life Life Insurance
    "Good Investment"
    0.5 5.0/5 "Blown Away!"
    I am very delight Bajaj Allianz Life insurance, I make the premium of Rs. 15,000 for per annum it has tenure period of ten years. After maturity I get the sum assured around Rs. 2 lakhs and also they are providing financial security for unforeseen events.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jun 24, 2019
  • LIC Life Insurance
    "Very Good market policy"
    0.5 4.0/5 "Great!"
    Its 20 years plan which i taken from Life Insurance Corporation of India. Settlement is on proper timely basis. We get the returns on time and there is no customer harassment. I took the Jeevan saral policy in 2009. My friend is working as a LIC agent and he suggested me to take the Jeevan Saral Policy.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jun 24, 2019
  • LIC Life Insurance
    "Very Good Government company"
    0.5 5.0/5 "Blown Away!"
    In the year of 2005, i have taken the money back policy. I have been paying the premium of RS. 899 every quarter. I make the online payment. I have received the cash back to my account twice and i'm happy about the returns. I have gone through with my friends who recommended me about the LIC.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jun 24, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in LIC. The policy is for 18 years. Now I am paying premium in the monthly package.2 policies are remaining in maturity for above 2-3 years. While getting a policy my agent has given an information about the policy details. Through a salary account they debit an amount for the payment.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 24, 2019
  • LIC Life Insurance
    "LIC policy is always super"
    0.5 5.0/5 "Blown Away!"
    Since its a traditional company, i have chosen the LIC. The claim experience would be best. I have taken a money back policy three times. I am paying the premium amount of Rs. 400. I have got the policy 10 years back. Two times, the money has credited to my account and I'm satisfied with the returns.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 24, 2019
  • SBI Life Life Insurance
    "Good policy to take"
    0.5 5.0/5 "Blown Away!"
    Bought my insurance policy from SBI LIFE. The policy used to cover for next 26 years. I am paying the premium amount of Rs. 1.25 lakhs. This is a single premium policy. This is tax covered policy. Response is fine. I never had any issues from this policy.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 24, 2019
  • HDFC Life Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I am satisfied with HDFC Banking service so I took a life insurance with HDFC Life. The policy coverage is 6L but need to increase more. I am paying yearly premium through online and its very easy for me. I did the policy in 20years and need to pay till the age of 45. I got the insurance paper online and also through courier.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jun 24, 2019
  • LIC Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have purchased JEEVAN ANAND and using from last 10yrs, maturity is for long term of 22yrs, coverage for self and spouse. The premium paying for annual once. The life coverage is applicable after the maturity. The reason for getting the policy it is a traditional and security purpose.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 23, 2019
  • LIC Life Insurance
    "Medium"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in LIC before 6 months back. The policy is for 20 years. I am paying premium in the monthly package. While getting a policy my agent has given an information about the policy details. They use to detect in a salary account for the payment
    Was this review helpful? 0
    , raichur
    Reviewed on Jun 23, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in LIC 15 years back. The policy is for 20 years. I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details and provided documents as well. I use to payments through an online.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 23, 2019
  • HDFC Life Life Insurance
    "Unhappy with the service"
    0.5 2.0/5 "Expected more"
    I purchased another ULIP policy from HDFC Life. I had to pay a premium on a yearly basis. After I bought the policy, I did not get much of benefits. There were a lot of charges as well, so I surrendered the policy. To surrender the policy I had to visit the bank and give a canceled cheque and got back my investment.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 23, 2019
  • LIC Life Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    Jeevan anand plan using for the 4th year where the maturity period is for long term of 21years. The premium paying for yearly once. Coverage is for self, the coverage is for accidental policy. Premium paying for 7.2L per annum. Sum assured is for 1.75C approx.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 23, 2019
  • HDFC Life Life Insurance
    "Average"
    0.5 3.0/5 "Satisfactory"
    I have taken a ULIP policy from HDFC Life. I am satisfied with this policy benefits. I bought this policy online. I pay a premium on a monthly basis. There is a lock in period of three years. The payments can be done online. In all no hassles with policy.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 23, 2019
  • LIC Life Insurance
    "Good"
    0.5 3.5/5 "Pretty good"
    I have taken a life insurance in LIC for more than a year ago. The policy is for 15 years. I am paying premium in the annual package. While getting a policy my agent has given an information about the policy details and provided hard copy documents as well. I do payments either through an online or I provide cheque to an agent.
    Was this review helpful? 0
    , varanasi
    Reviewed on Jun 23, 2019
  • LIC Life Insurance
    "Good"
    0.5 3.5/5 "Pretty good"
    I have taken a life insurance in LIC for more than a year ago. The policy is for 16 years. I am paying premium in the half yearly package. While getting a policy my agent has given an information about the policy details and provided the hard copy documents as well.
    Was this review helpful? 0
    , varanasi
    Reviewed on Jun 23, 2019
  • LIC Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    The reason for taking the policy is because of security purpose. I am not aware of the name of the policy but using this from last 10 years, it gives the coverage for self. The premium paying for yearly basis of 25K and the maturity period is for 10 years of short term policy. There is a accidental coverage with this policy.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jun 23, 2019
  • LIC Life Insurance
    "Good"
    0.5 3.5/5 "Pretty good"
    I have taken a life insurance in LIC for nine years ago. The policy is for 20 years. I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details. I use to do payments through an online.
    Was this review helpful? 0
    , varanasi
    Reviewed on Jun 23, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    My endowment was taken from LIC. This policy covers for high risk with a low premium amount. Total term period is 15 years. I have purchased the policy in 2013. Total coverage value is Rs. 20 lakhs and this is a tax benefit policy. I pay the premium amount of Rs. 70000.
    Was this review helpful? 0
    , tirupur
    Reviewed on Jun 23, 2019
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