Use the kids' funds to fund an insurance plan for them.

The three major Nepalese festivals of Vijayadashami, Tihar, and Chhath are about to begin. For Nepalis, these celebrations hold similar significance in terms of their religion, society, and culture. It is traditional to get together with family during the holiday, make sweet foods, and then consume them. For kids, festivals are extremely significant. Children find the celebration more engaging when they play ping pong, wear new outfits, and get tikas from dignitaries. In a similar vein, brothers swap gifts by stealing Tikas from their sisters at Tihar, when Deusi-Bhailo is performed.

Presenting Dakshina to sisters during Dasain-Tihar, playing Deusi-Bhailo, or presenting Dakshina to sisters is a custom in Nepal. As a result, a lot of kids are coming up with their own ideas for what to do with the money they have saved. The majority of the kids use the money raised during this event to buy clothes or meals. A lot of parents are unaware of where their kids are spending their money. During the celebration, parents who are unaware of the situation might consume and wear items purchased with the money. Consequently, getting an insurance coverage is highly appropriate for its intended usage.

Security and compulsory saving are also synonymous with insurance. We can take out and spend the bank money if we need it. But we have to collect the sum annually after insurance. Thus, by raising money on Chard Parv, encourage kids to purchase insurance plans using their own money. The premium can be paid annually once the policy is obtained.

The child's further education can be funded with the insurance money paid in their name today. It can also be utilized for their weddings. Because of this, the money they raise will be sufficient to provide for the needs of their future offspring. It also helps kids form the habit of saving money. Hence, the ideal gift if you're considering purchasing something for your siblings or kids would be an insurance policy.

How does the kids' insurance plan work?

In Nepal, there are presently fourteen businesses offering life insurance. The companies' plans allow for the insurance of between 50,000 and 25 lakh rupees at the very least. Newborns are also insured by certain firms. The length of each company's insurance policy varies. Parental guardianship is a requirement for child insurance. The insurance coverage is ongoing in the event that the client has an incident. The insurance premium, however, is not required to be paid. That is, your children's financial situation will not falter even if something were to happen to you.

Children's programs run by businesses
Life Insurance in Nepal
Golden Future Life Insurance for Children 

The Children's Golden Future Life Insurance Scheme has been introduced by Nepal Life Insurance Company for children. Children from one month to eleven years old can purchase this insurance. The age range for protection ought to be 21–65. The policy's length will range from five to twenty-five years. The policy will have a maximum maturity of 25 years. The premium may be paid by the insured once, quarterly, monthly, semi-annually, or even annually. After the child turns seven years old or two years after the insurance policy was purchased, the risk will be covered. The cash assured and bonus will be paid in one lump sum when the policy matures.

Nepal LIC
Bal Unnati 

The children's insurance plan Bal Unnati has been introduced by LIC Nepal. Children and guardians will be protected from risk by this policy. The insurance premium for an 8–14-year plan is set at 55 rupees per thousand, while the 15–25-year plan has a fixed insurance price of 60 rupees per thousand. You can also add disability and accident insurance to this policy. The policy may be redeemed or a loan may be obtained following three years of premium payments.

You can insure between one lakh and one crore rupees. The policy will last for eight to twenty-five years. Children can be covered from the age of three months to seventeen. The guardian should be between the ages of twenty and fifty.

The National Life Insurance Company

Launched are the Bal Bhagyaday and Bal Amrit Jeevan Bima policies from National Life Insurance Company.
Children from one year old to fifteen years old can obtain a kid Amrut insurance coverage. The insurance will last for a maximum of 20 years and a minimum of 11 years. The maximum amount insured is one lakh rupees up to the basis of the revenue source. The guardian should be between the ages of twenty and fifty. 

Himalayan Life Assurance
Ratan Bal Anmol Jeevan Bima
The Himalayan Life Insurance Company's Anmol Ratan Bal Jeevan Bima Yojana allows participants to contribute between 50,000 and 500,000 rupees. Children up to the age of eighteen can acquire this policy. The guardian must be between the ages of 17 and 55. Ten to twenty-seven years will be the insurance duration. The premium may be paid by the insured on an annual, semi-annual, quarterly, or monthly basis. Once the insured child turns six or has paid the premium for two years, the risk will be covered. 

Asian Life Insurance
Provisional Golden Child Future Life Insurance Plan
It is possible to purchase this plan for youngsters up to the age of 17. The guardian's age should be between 65 and 70 years old. A five-to 25-year insurance duration is planned. This plan will guarantee a minimum of $50,000, with the maximum amount contingent upon the source of income.
Subject to the conditions of the policy, the sum assured and the bonus as specified by the rules are paid in one lump payment after the insurance expires.

Jyoti Surya Life Insurance
New Child Life Insurance for Surya Jyoti
The Surya New Child Life Insurance Scheme has been introduced by Surya Life Insurance Company for children. Youngsters up to the age of 17 can be covered by insurance. However, the risk begins from the time if the insured person reaches the age of six years, or if the entire two-year period has elapsed after the insurance commencement date, whichever comes first after the event. The insurance minimum ranges from ten to twenty-seven years. The guardian's age should range from 18 to 70 years old. It is possible to insure up to 50 lakhs and at least 50,000.

Both the guaranteed amount and any accumulated bonuses are payable upon the conclusion of the insurance period. 25% of the total value assured, plus bonus, or the entire sum assured, whichever is higher, will be paid if the insured passes away within the insurance period. The policy will thereafter expire. This can also include accidents and 18 to 35 major diseases.