Kathmandu – Rastriya Beema Company has officially launched a new insurance product titled ‘Child Education Plan’, designed to ensure uninterrupted access to quality education for children even in the absence of parents. The plan focuses on long-term financial protection and educational continuity.

According to Sujit Prasad Shah, Assistant Manager of the company, this endowment life insurance plan specifically targets children’s educational and daily living needs under all circumstances. The plan was introduced following updated directives from the Rastriya Beema Company, refining earlier child-focused insurance products.

Key Features of the ‘Child Education Plan’:

• Minimum Sum Assured: NPR 25,000
• Maximum Sum Assured: NPR 5,000,000
• Entry Age: From 1 day (0 years) to 17 years
• Maximum Maturity Age: 42 years
• Policy Term: Minimum 10 years, Maximum 25 years
• Premium Payment Modes: Annually, Semi-annually, Quarterly, or Monthly
• Premium Waiver: In case of the guardian’s death, future premiums are waived
• Proposer Coverage: Includes mandatory risk coverage for the proposer (guardian)

The company emphasized that the plan ensures smooth claims processing and aims to avoid any hurdles in claim settlement especially for child policyholders.

Shah also highlighted the growing relevance of insurance across all income groups, noting that while traditional bank savings offer returns over time, insurance provides critical financial protection against uncertainties. As banking services have become more accessible, insurance must follow the same path to reach every household, he added.