Bal Mamata/Bal Sneha is an endowment assurance plan available for children of less than 10 years of age. The policy may be purchased by any of the parent/grand parent

Premiums Mode: Premiums are payable yearly, half-yearly throughout the term of the policy.
Premium Rate: As per the table provided by LIC based on the nearest age of the child.
Bonuses: This is a with-profits plan and participates in the profits of the Corporation’s life insurance business. It gets a share of the profits in the form of bonuses. Bonus is paid @ NPR 65 per thousand (guaranteed) for the first five years and for remaining period until attainment of 20 years of age @ on actual profit earned basis

Policy terms:
Minimum Sum Assured Amount: NPR 100,000
Maximum Sum Assured Amount: NPR 5,000,000
Minimum Entry Age : 0 year (Last Birthday)
Maximum Entry Age : 10 year (Last Birthday)
Policy Expiry Age : 16 year or 20 year
Discount on Premium : NPR 1 per thousand for NPR 200K & above

Bal Mamata and Bal Sneha differ only in the policy servicing term. In Bal Mamata premium payment is until 16 years while in Bal Sneha premium payment is until the child attains the age of 20 years. Bal Sneha and Bal Mamta offers money back plan as under:

25% of the sum assured after completion of 16 years of age
25% of the sum assured after completion of 18 years of age
50% of the sum assured plus the bonus after completion of 20 years of age

Commencement of risk cover: The risk commences either after 2 years from the date of commencement of policy or from the policy anniversary immediately following the completion of 7 years of age of child, whichever is later.

Documents Required: (1) Filled application form and (2) Proof of Age