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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

Bal Jeevan Bima Rural Postal Life Insurance Plan Reviews

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  • LIC Life Insurance
    "Must Have"
    0.5 5.0/5 "Blown Away!"
    Its is feasible and I can get the loan based on the policy coverage. I took the Jeevan anand policy probably I make the premium around Rs. 15,000 per year it has term of 20 years, Almost I paid it for 15 years , remaining 5 years to go. LIC Is good for tax benefits.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 17, 2019
  • SBI Life Life Insurance
    "Excellent Policy"
    0.5 5.0/5 "Blown Away!"
    I had taken this insurance policy a long time back, the services which they had been very good. The premium amount has been nominal and has not been high and the payment method has been simple. I can make the payments using my credit card and there has not been any hassle faced with the services of them.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 17, 2019
  • LIC Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been holding my life insurance with Life insurance corporation of India, i took my life insurance as the agent of that and he had suggested me good policy explain me well about the coverage and the premium amount they have charged me was nominal they have given me up to 3,000 , it is in monthly basis, and the premium amount gets auto debited from my account.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 17, 2019
  • LIC Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been holding my life insurance with Life insurance corporation of India from long time, and the agent of LIC was know person so he suggested me best policy and there premium amount they have given me was nominal , the premium amount i use pay on yearly basis,and there is no hidden charged , and i pay premium through auto debit .
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 17, 2019
  • LIC Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been holding my life insurance with Life Insurance corporation of India,i took jeevan anand policy , and the agent is my brother , he had explained me clearly and advise me which insurance is good for me and i pay premium on half yearly basis and monthly basis as i have two policy, i use to pay through off line mode.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 17, 2019
  • LIC Life Insurance
    "Best service"
    0.5 5.0/5 "Blown Away!"
    I have been holding my life insurance with Life Insurance corporation of India,i took life endowment policy , and the agent had properly explain me out the plan benefits and policy coverage , he had explained me clearly and advise me which insurance is good for me and i pay premium on quarterly basis,i use to pay premium up to 14000 through on line, i have two policy second policy premium i use to pay 25,000 as an yearly basis,and there patrol is good,they use to update me if any policy they use to update me, i use to pay through on line mode, through neft transfer.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 17, 2019
  • LIC Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using my life insurance with Life insurance corporation of India, i have taken policy for my family , i have paying premium on half yearly basis up to 65,000 they have charged me , it is nominal for me , i use to pay through off line or on line mode,it depends according to my time, it i want to pay in emergency purpose i need to pay through on line,if there is delay in paying premium they use to charged me up to 230 rupees.
    Was this review helpful? 0
    , lucknow
    Reviewed on Jan 17, 2019
  • Bharti Axa Life Life Insurance
    "Good for nominee savings"
    0.5 4.0/5 "Great!"
    Reason to chose Bharthi Axa, my friend working there hence I took the policy. I have taken term insurance with the coverage of Rs.23 lakhs , I can add multiple nominees, I make the premium of Rs.95,000 its for per annum. It has term of 10 years, now a days they have different options too.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 17, 2019
  • HDFC Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been holding my life insurance with HDFC LIFE INSURANCE recently in december , they have charge me nominal premium for a yearly basis, and it use to get through on line , and there agent was good they help me to get good policy and they use to update me if any update is there in this policy time to time.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 17, 2019
  • LIC Life Insurance
    "Good for future investment"
    0.5 4.0/5 "Great!"
    I don't have any query with Money back policy from LIC, they has all the option through online hence I can visit any branch for LIC queries. I get the bulk amount after 20 years , its good for my daughter marriage or education. therefore I make Rs.30,000 per annum.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 17, 2019
  • LIC Life Insurance
    "Good for education purpose"
    0.5 4.0/5 "Great!"
    Long back I done LIC, I was taken education policy for my daughter, I took for it 21 years, I need to pay the premium upto 18 years, then I get 20% of amount every two year once for my daughter education purpose, everything is online, I make the premium around Rs. 40k per annum.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 17, 2019
  • HDFC Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using my life insurance with HDFC LIFE,there service is good, i use to pay my premium on yearly basis , they have charged me up to 5000 rupees ,i use to pay through on line , they are not taken any extra charges,the agent had explain me clearly about there policy coverage.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 17, 2019
  • LIC Life Insurance
    "Good for tax benefits with safe investment"
    0.5 4.0/5 "Great!"
    I have one LIC Policy for Rs. 60,000 in an annual basis I make the premium, its good for the tax benefits. The policy which I took is jeevan anand has the policy term of 20 years. However it has the locking period of three years. I can view the statement through online.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 14, 2019
  • LIC Life Insurance
    "Average"
    0.5 3.0/5 "Satisfactory"
    I have chosen 2 policies, long term and money back. LIC is good but they will provide the information only If I request them. Paying monthly 2500 rupees through ECS. I did not see any benefits and have no access for online. Every 5 years once they are giving bonus on the money back plan.
    Was this review helpful? 0
    , hosur
    Reviewed on Jan 14, 2019
  • LIC Life Insurance
    "Good policy"
    0.5 4.5/5 "Excellent!"
    I have taken 4 policies with LIC from long back. Its a mixed of endowment, money back and life insurance policy for family. I am satisfied with the benefits. If there is any problem I can manage the account online. I pay the premium by cash or cheque, its hardly around 1300 or 1400 rupees every quarterly and also monthly premium has been done.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 14, 2019
  • LIC Life Insurance
    "Good policy"
    0.5 5.0/5 "Blown Away!"
    I have a life insurance policy with LIC and it was taken almost now 10 years through an agent. The tenure period is 21 years and its a JEEVAN ANAND. The benefits are quite good. I never contacted the customer service, I go through with an agent. I make the premium through online every quarter.
    Was this review helpful? 0
    , thiruvananthapuram
    Reviewed on Jan 14, 2019
  • IDBI Federal Life Insurance
    "I feel I should have taken a better product"
    0.5 2.0/5 "Expected more"
    I have taken IDBI Federal Incomesurance policy 6 yrs back, premium of Rs 1.2 Lakh/yr, for 15 yrs . Life Coverage only 18.3 lakh, I will get only 1.8 Lakh per year for 10 yrs at end of term, which is meagre by any std. I am not able to come out of it as I will be loosing heavily. I am retiring after three years and after that I have to pay for another 5 years to get this benefit (yrly payout) . I do not know what to do.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 13, 2019
  • HDFC Life Life Insurance
    "Very Good Service"
    0.5 4.0/5 "Great!"
    I had taken this insurance policy almost five years back and i had been paying the premium on an annual basis. The premium amount was not too high and the payment method has been easy as well. There has not been any issues faced with the services of them so far.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Jan 13, 2019
  • LIC Life Insurance
    "Good for me and for my nominees"
    0.5 4.0/5 "Great!"
    I have purchased Jeevan anand policy with LIC, my policy has the tenure period of 20 years. As per my policy I need to pay the premium for 15 years, I make Rs. 30,000 per annuam. At last I get the premium cover upto Rs. 20 lakhs and one other good benefits even after the policy expiry there is a maturity benefits of 14 lakhs will provide to the nominees for certain demise its good. But I suggest they need more improvement on the customer support,
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 11, 2019
  • LIC Life Insurance
    "Trusted Insurance Company"
    0.5 4.0/5 "Great!"
    It was taken the policy with LIC in month of 2014, they have good reputation and my relative is working as an agent. To secure my family I took this policy, the policy which I am holding it for 25 years, I will be getting the maturity after the tenure period.
    Was this review helpful? 0
    , kolkata
    Reviewed on Jan 11, 2019
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