April 15: Reliance Life Insurance Limited has launched its child plan named 'Mero Mutu Bal Jeevan Beema' on the occasion of New Year 2075. Under this plan, a child of one month and above is insured and the proposer including the child’s life is covered through a single policy. This plan provides financial security and savings guarantee in long-term for the child.

According to the company, other features apart from maturity benefits includes premium waiver for the rest of the term in case of death or total permanent disability of the proposer and an amount equal to 1 percent of sum assured will be provided to the child every month as income benefit till maturity of the policy which especially helps in protecting the child’s future.

With introduction of this plan, the company is now providing its clients with five different types of insurance plans and is also in the process of launching three more plans soon.

Reliance Life Insurance Limited said it is promoted by Siddhartha Bank Limited including other prestigious business houses with an authorized capital of Rs 210 million out of which Rs 147 million has been paid while the remaining Rs 63 million is to be issued to general public as ordinary shares in due course of time.