IME Bal Kiran Jeevan Beema Yojana is a versatile life insurance policy offering options for regular, single, or limited premium payments. Policyholders receive annual money-back payouts during the policy term, providing financial support for children’s education. Its flexibility and money-back feature make it ideal for individuals seeking financial protection and periodic returns to secure their children’s future.
Key Features
Policy Term Year | Premium Payment Term |
10 | 5,8 |
15 | 5,10,12 |
20 | 5,10,15 |
25 | 5,10,15,20 |
Risk Commencement Date:
The Risk of the Life Assured (Child) will commence either 2 years after the date of commencement of the policy or upon completion of 6 years from the date of birth of child whichever takes place later.
If the age at entry of the Life Assured (Child) is 15 and beyond 15 Years, the risk commencement date will be 1 year after the date of commencement of the policy.
Benefits:
Option | Benefits as Percentage of Basic Sum Assured on Survival to (Complete years from Date of Commencement) | ||
1 | 0 to 3 | 4 to (U*- 1) | At Maturity |
– | 5% | [115% – (U – 4) * 5%] + Vested Bonus | |
| 2 | 0 to 3 | 4 to (U*- 1) | At Maturity |
– | 4% | [125% – (U – 4) * 4%] + Vested Bonus | |
*U = Policy Term
2. On the death of the life assured before risk commencement, all the basic premiums paid will be refunded and the policy will automatically terminate.
3. In the case of death of life assured (child) after the commencement of risk, the policy will provide 25% of Sum Assured plus vested bonus or Total Basic Premium Received whichever is higher. The policy will automatically terminate after the benefit is paid.
4. In the case of death of life assured (child) and proposer at the same time, the policy will provide full Sum Assured for death of proposer and 25% of Sum Assured plus vested bonus for the death of child.
5. In the case of death of life assured (child) after the death of proposer, the policy must provide 25% of Sum Assured plus vested bonus or Total basic Premium Received whichever is higher. The policy will automatically terminate after the benefit is paid in this case.
6. In the case of death of proposer during policy term, all the future premiums will be waived, and the policy will continue, and the policy will provide Monthly Income Benefits till maturity.
Additional Benefits (Compulsory Riders Benefits):
On death or Total Permanent Disability of Proposer due to accident or sickness while the policy is active, following benefit will be provided:
Optional Rider Benefits:
Loan Facility: After the policy acquires Surrender Value.
Tax Benefits.
*Terms and Conditions Apply
The benefits and coverage provided under this plan are determined by the terms and conditions outlined in the policy and rider documents. In the event of any dispute arising under this policy, resolution will be in accordance with the provisions of the Insurance Act of 2079.
First Policy Issue Date: 2022-04-05
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