Bal Kiran Jeevan Beema Yojana by IME Life for Children
24th November 2025, Kathmandu
The Bal Kiran Jeevan Beema Yojana from IME Life Insurance is a comprehensive child anticipated endowment (money-back) life insurance plan.
Bal Kiran Jeevan Beema
It is specifically crafted to provide both financial protection for the child and the proposer (parent/guardian) while simultaneously creating a systematic, liquid fund for the child’s education and future needs through fixed, annual money-back payouts. This unique structure ensures policyholders receive periodic returns during the crucial years when educational expenses are typically the highest.
Policy Structure and Eligibility
The plan provides policy terms and premium payment flexibility tailored to long-term financial planning for children.
Policy Roles and Ages: The Life Assured (Child) can enter the plan between ages 0 to 15 years, with a maximum maturity age between 16 and 27 years. The Proposer (Parent/Guardian) must be between 18 to 60 years at entry, with a maximum maturity age of 70 years.
Term and Sum Assured: The policy term ranges from a minimum of 10 years to a maximum of 25 years. The Minimum Sum Assured is NPR 1,00,000, with no upper limit (subject to the bank’s underwriting criteria).
Premium Payment Options: Policyholders can choose regular payments (yearly, half-yearly, or quarterly), a single premium payment, or limited premium payment options. For a 25-year policy, for example, premium payments can be limited to 5, 10, 15, or 20 years.
Risk Commencement and Survival Benefits
A key regulatory feature of child plans is the delayed start of the child’s life risk coverage, while financial benefits are paid out systematically.
Risk Commencement
The life insurance risk coverage for the child begins 2 years after the policy starts OR when the child reaches 6 years of age, whichever occurs later.
If the child is 15 years or older at entry, the risk commences earlier, 1 year after the policy starts.
Survival and Maturity Benefits
The plan is designed as a money-back policy, ensuring liquidity for expenses. Annual payouts begin after the policy’s initial years.
Annual Survival Benefit: Beginning from the 4th policy anniversary, 4 percent of the Sum Assured is paid annually, provided the policy remains active.
Maturity Benefit (Default Option): Upon maturity, the final payout consists of 125 percent of the Sum Assured, minus the total of all prior annual money-back payouts already received, plus all vested bonuses (accrued over the policy term).
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Death Benefit Structure and Proposer Protection
The plan offers robust protection against the unfortunate event of the death of either the child or the parent/proposer.
Death Benefits
Death of Child Before Risk Start: All basic premiums paid are refunded to the proposer, and the policy is terminated.
Death of Child After Risk Start: The policy pays the higher of either 25 percent of the Sum Assured plus vested bonus OR the total premiums paid. The policy terminates after the payout.
Death of Proposer During Policy Term: This is the most crucial benefit. The policy is kept in force, and all future premiums are waived (Premium Waiver Benefit). Additionally, a Monthly Income Benefit is paid to the beneficiary until the policy matures, ensuring the child’s financial and educational stability is not compromised.
Death of both Proposer and Child: The policy pays the Full Sum Assured for the death of the proposer PLUS 25 percent of Sum Assured plus bonus for the death of the child.
Compulsory and Optional Riders
To fully safeguard the child’s future income stream, the plan includes a compulsory rider and offers several optional riders for customizable protection.
Compulsory Riders (Proposer): The plan mandatorily includes the Premium Waiver Benefit (waives future premiums upon proposer’s accidental death or total permanent disability) and the Educational Income Benefit. The income benefit provides a monthly or quarterly income upon the proposer’s death/disability, calculated as a percentage of the Rider Sum Assured (e.g., a monthly income of 1.0 to 3.0 percent).
Optional Riders: Additional security can be purchased via optional riders, including Accidental Death Benefit, Lump Sum Benefit, Funeral Expense Rider, and Critical Illness Rider.
Additional Advantages and Compliance
The plan provides standard financial advantages and is governed by the latest Nepalese insurance legislation.
Financial Benefits: A loan facility is available once the policy has acquired a surrender value. Policyholders are also entitled to tax benefits on premiums paid, according to prevailing regulations.
Legal Compliance: The plan operates under the terms and conditions outlined in the policy documents and complies with the Nepal’s Insurance Act 2079, which governs all insurance operations in the country.
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