Welcome To Odisha Postal Circle

                                                                           CHILDREN POLICY
The salient features of Children Policy are as under:-

SHORT TITLE:-
The scheme shall be called as 'Children Policy scheme'.This scheme shall be applicable toboth PLI & RPLI.

COMMENCEMENT:-
Children's Policy shall come into force with effect from the date of issue of notification.

OBJECTIVE:-
The scheme is envisaged to provide insurance cover to two children of each policy holder provided that only one such policy will be allowed for an insured against one policy.

APPLICABILITY OF POST OFFICE INSURANCE FUND RULES:-
POLI Rule,as amended from time to time,shall be applicbale to this "children policy scheme" mutatis-mutandis except where special provision have been made under this scheme such special provisions shall be applicable to the exclusion and in suppression of corresponding POLI Rulers.

ELIGIBILITY:-
  • This is an independent policy.However this policy cannot be issued of its own to any child.However this policy cannot be issued of its own to any child.If the father/mother(here inafter called insured) of the child has already taken a policy or is proposing to take a policy on their life either as Whole Life or Endownment Assured(hereinafter called Main Policy) for a sum assured not less then the sum assured of children policy then children policy shall be issued to such insured.
  • Not more than one policy will be allowed for one child.The policy can be taken by insured for his/her own child only.
  • Not more then two children in a family shall be covered under this policy the same child should not be covered under morethaan one policy.

AGE LIMIT:-

  • The insured of Main Policy shall not be aged 45 years and above at the time of taking/issue of Children Policy.
  • The age of the child should not be less then 5 years and not more than 20 years at the time of issue of Children Policy.

LIMITS OF INSURSANCE:-

The minimum limit for insurance under this scheme shall be Rs 20,000/-(Rupees Twenty Thousands Only).The maximum limit of sum Assured under this scheme shall not be more than Rs 3,00,000(Three Lakh Only).Total sum assured of this policy with the other policy of the insured shall not exceed the upper limit of the assured that is allowed under PLI/RPLI.

MEDICAL EXAMINATION:-

This policy be a non medical policy for a maximum sum assured of Rs. One lakh for one child.

INSURANCE PLAN:-

Only one Wndowment Assurance plan shall be available under the "Children Policy".