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3 Reasons To Opt For The Young Assure Policy From Bajaj Allianz

  • Highlights

  • Save for your child’s future with Bajaj Allianz Young Assure Policy

  • A regular endowment plan with declared bonuses

  • Comes with Guaranteed Additions and Guaranteed Maturity Benefits

  • A traditional savings plan that can be bought online

As a parent, you try to offer the best of everything to your child. While life is bright and full of opportunities, it is also uncertain. An untoward incident can derail your carefully planned goals and milestones, leaving your family vulnerable.

This is where child protection insurance can help. Parents can secure their child’s future by opting for an insurance plan that offers a savings and an insurance component, and helps them achieve their goals, even if the parent is no more.

The Young Assure Policy  from Bajaj Allianz is one such policy. It is a traditional savings insurance plan that provides you with an option to save regularly (at specific intervals) for the future. Your nominees get a lump sum amount at the time of policy maturity, which can be used to achieve goals like higher education, or marriage. The benefits can be availed after maturity of the insurance plan, either as a lump sum, or as cash installments.

Let’s look at a few of the features of this plan:

1. Flexibility

This insurance plan is pretty flexible when it comes to features like premium payment terms, policy term, guaranteed maturity benefit, and premium paying frequency. The annual premium is calculated based on these criteria, and the age of the insured. Moreover, you can even choose your cash installment option as per your convenience.

Additional Read: Which policy is best for child?

2. Death and Accidental Disability Benefits

In case of death or accidental disability of the policyholder during the plan term, the nominee gets the sum assured (subject to a minimum of 105% of all the premiums paid by the insured till death). After paying the death benefit, the policy will continue till maturity as a fully paid-up policy, where no premiums are to be paid. As soon as the policy matures, the nominee will receive the maturity benefit as cash installments.

3. Extended Benefits

You can enjoy extended benefits from your policy in the form of riders, by paying a nominal cost. The riders available include Accidental Death Benefit rider, Accidental Permanent Total/Partial Disability Benefit Rider, Critical Illness Benefit Rider, Family Income Benefit Rider, and Waiver of Premium Benefit Rider.

If the policy holder is injured in an accident and becomes partially disabled within the plan tenor, the policy becomes a fully paid-up one, with all future premiums waived. All other extended benefits (if applicable) would also be paid along with the maturity benefit, as per the terms and conditions of the policy.

Additional Read: How to Invest in a Child Plan

Another benefit is the tax exemption. Under Section 80C of the Income Tax Act, premiums paid, up to Rs. 150,000 p.a., are exempted from tax.

The Young Assure Policy from Bajaj Allianz works in your favour because it allows you to save regularly and build a corpus. Its multiple features and benefits ensure that you are covered for several eventualities, offering you peace of mind. It also offers special rates for female policy holders.

So, go ahead and make a wise financial decision. You can even buy the plan online.

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