National Life Insurance Bal Bhagyodaya: Child Education Plan Guide
30th September 2026, Kathmandu
Life Insurance Company Limited offers Bal Bhagyodaya, an Anticipated Endowment with Profit policy explicitly crafted to safeguard a child educational timeline over a 15 year term.
National Life Bal Bhagyodaya Plan
As a specialized money back plan approved by the Nepal Insurance Authority, it delivers periodic payouts at critical stages to ensure financial support remains uninterrupted under any circumstance.
Below is an exhaustive breakdown of the plan specifications, eligibility requirements, survival and death benefits, optional riders, and additional privileges.
Plan Overview and Regulatory Details
Bal Bhagyodaya operates under strict regulatory approvals to provide complete peace of mind for parents planning long-term investments for their children.
- Product Category: Money Back Plan (Anticipated Endowment)
- NIA Product Code: NIA/LI002/2060/061/MBP/0005
- NIA Approval Date: 4/7/2060 BS
- Purpose: Built to handle educational costs through structured periodic liquidity payouts.
Key Policy Requirements and Parameters
The policy sets clear criteria regarding eligibility ages, loan duration, sum limits, and payment schedules.
- Minimum Entry Age: 18 Years
- Maximum Entry Age: 50 Years
- Maximum Maturity Age: 65 Years
- Policy Term: Fixed at 15 Years
- Minimum Sum Assured: NPR 25,000
- Maximum Sum Assured: Subject to verified income sources
- Nominee Child Age: Up to 16 years old
- Premium Payment Frequencies: Yearly, Half-Yearly, Quarterly, and Monthly options
- Age Computation Method: Based on age next birthday
- Rebate Offer: NPR 1 premium rebate provided
Core Policy Payout Benefits
The plan ensures that financial assistance reaches the child through structured survival payouts or complete protective cover if the policyholder passes away.
Survival Benefits:
If the life assured survives through the policy term, the sum assured is distributed in three structured payouts, including 25 percent of the Sum Assured after the completion of the first 5 years, 25 percent of the Sum Assured after the completion of the second 5 years, and the remaining 50 percent of the Sum Assured plus all accumulated bonuses upon reaching the 15-year maturity mark.
Death Benefits:
In the unfortunate event of the life assured passing away during the policy term, the plan acts as a financial safety net to protect the child future. All remaining premium obligations till policy maturity are completely waived, scheduled survival payouts continue to be paid out on schedule despite the death of the assured, and upon reaching full maturity, the nominee child receives the final 50 percent of the Sum Assured along with the entire bonus earned throughout the 15-year duration.
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Optional Rider Coverage Options
Policyholders can extend their insurance coverage by selecting optional rider benefits at a minimal additional premium cost.
Accidental Death Benefit (ADB): Coverage up to NPR 2,500,000 available for an extra charge of NPR 1.00 per thousand sum assured.
Waiver of Premium (WOP): Additional waiver coverage for unexpected disabilities available for an additional charge of NPR 2.00 per thousand sum assured.
Additional Policy Privileges
Beyond standard coverage, Bal Bhagyodaya provides useful financial options to manage changing circumstances over time.
Loan Facility: Policyholders can access loan facilities against the policy collateral to handle emergency financial needs.
Surrender and Paid-Up Options: Provides recognized surrender value and paid-up options if the policyholder needs to adjust their long-term commitments.
Tax Exemption Benefits: Eligible for annual income tax deductions in accordance with the Income Tax Act, 2058 of Nepal.
Conclusion
The Bal Bhagyodaya plan by National Life Insurance Company Limited offers a reliable, structured path for parents who want to ensure their child higher education remains fully financed no matter what the future holds. By combining guaranteed periodic payouts, robust life insurance protection, premium waiver security, and attractive tax advantages, this policy serves as a dependable investment for your family financial strategy.
For More: National Life Bal Bhagyodaya Plan
