Minimum Deposit
Sum Assured: Max ₹3 Lakh
Maximum Deposit
Max ₹3 Lakh per child
Scheme Tenure
Child Age 5 to 20 Years
Tax Status
Sec 80C & Sec 10(10D)
Official Rules & Key Features
- Waiver of Premium: No future premiums payable if the main PLI policyholder parent dies.
- Max 2 Children: Covers up to 2 children per parent.
- Bonus Rate: Equal to Endowment Assurance (₹52 / ₹1,000 SA).
Eligibility & Who Can Open Account
- Children aged between 5 and 20 years.
- Parent must hold an active PLI Whole Life or Endowment policy.
Taxation Rules
Sec 80C tax deduction for parent. 100% tax-free maturity u/s 10(10D).
Premature Closure
Allowed after 3 years.
Required KYC & Verification Documents
Child Birth Certificate, Parent PLI Policy Number.
Calculate Returns
Estimate exact maturity yield, monthly interest payout, or premium quotes for PLI Bal Jeevan Bima (Children Policy).
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