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  • Address

    Baneshwor 10, Kathmandu, Nepal

  • 9802336856

  • info@beemamarg.com

About Child Plan Policy

What is a child insurance plan?

Child insurance policy is an insurance plan which acts as an investment made for your childrens. It provides life cover to your child and assures secured future for your kid to meet their expectations from you as parent. Childrens are the best jewel one can have as parents and you want to make their every wishes come true. In this insurance plan, lumpsum amount is paid at the end of the policy term as maturity benefits. They also provide flexible payouts on any major life events of your child which could be for futher education or marriage. In case you meet any unfortunate event, with this insurance plan, your child shouldn't suffer financially and the plan will act as a shield for your child's future against such incident.

Why you should buy a child plan?

No matter what age you are in life, insurance definitely is something to add to your overall financial portfolio. Child insurance is particularly very important because caring for child involves expenses.Whether you are taking care of an infant or paying high tuition and school/college fees for a child everything involves spending money. Savings might not always be sufficient to meet all the requirements for future so a small amount of monthly/quarterly/half yearly/yearly premium every year can provide a backup for your childrens future either on your presence or on your absence if anything unfortumate happens to you.

Benefits under child insurance plan

  1. Dual component: Investment and Insurance: A child insurance plans are investment plan that provides an insurance cover to the child in case the parents meet any mishappenings. In case the policy matures, the maturity benefit will be received which is generally double the purchase amount of policy.
  2. Consistent saving: Child insurance plan is a disciplined way of saving for your childs future. You will have major focus on paying timely premium for a fear of lapse of the policy and loss of full amount. So, irrespective of the financial condition, it's highly probable to continue till maturity.
  3. Flexible premium and maturity: Parents who are buying insurance plan for child will be offered flexibility to choose the payment period and also, the maturity or the term of policy to maturity are determined according to the requirements of parents.
  4. Acts as collateral for loans: In general, the major expense parents make for child is either for education or for marriage. Providing quality education might cost very expensive nowadays, be it private colleges or further studying abroad. A child plan can be used for child related borrowings which makes them the great education policy and investment plan for child.

Key features of Child Insurance plan

  1. Waiver of premium: If the parents meet any unfortunate event anytime after buying a  child plan, the premium gets waived off and the insurance company passes the  maturity benefits to the child, as planned by parents on maturity of term.
  2. Periodic pay-outs to fulfill child's expenses.
  3.  Sum Assured: You will receive the guaranteed amount of money on the maturity of the policy. In general, the sum guaranteed on maturity are double the purchase price in Nepal.
  4. Tax benefits: The policy holder gets an deduction of Rs. 20,000 on  premium.
  5. Financial cover to childrens: In case of death of parents who were paying premium, child will be taken care of financially such that there is education are not impacted and they get a life as their parents wanted at the time of purchase of policies.