5 Perks of the Young Assure Policy from Bajaj Allianz
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5 Perks of the Young Assure Policy from Bajaj Allianz

  • Highlights

  • Disciplined savings habit to meet financial goals

  • Choice of guaranteed maturity benefit

  • Choice of premium and policy term

  • Availability of cash instalment options

Did you know that through a disciplined saving habit you can grow a financial corpus to meet your financial goals? A savings plan can help you plan and convert seemingly minuscule savings into a considerable corpus. One of the utilities of a savings plan can be the fulfilment of your child's dreams. Bajaj Allianz Young Assure child plan is a traditional savings plan. It can help you to plan for your child's career, education, and marriage.

Here are the benefits of the Young Assure Policy from Bajaj Allianz:

Choice of Guaranteed Maturity Benefit

You can choose your guaranteed maturity benefit (GMB), based on the educational corpus that you want to create. GMB will depend on your savings, cost of education, and inflation. You can use Bajaj Allianz Child Future Planner Calculator to determine your requirement. The minimum amount of GMB is Rs. 1,00,000.

GMB is the amount chosen at the inception by the policyholder. The benefits are calculated based on GMB.

Choice of Premium Term & Policy Term

Based on your requirement, you have the freedom to choose from the Young Assure Policy premium and policy terms. The premium payment frequency is yearly, half-yearly, quarterly and monthly. The minimum and the maximum age of entry is 18 years and 50 years respectively. The minimum and the maximum age of maturity is 28 years and 60 years respectively.

Additional Read: Different Types of Insurance Policies In India

Three Cash Instalment Options

Bajaj Allianz Young Assure Policy offers 3 cash instalment options - 3, 5, 7 years. The first instalment commences at the end of the policy term. The 3-year option is ideal if you want the total maturity benefit in 2 years. This amount can be utilised for funding children's marriage or their own venture. The 5-year option can be chosen to fund school education, where the last two instalments can be used for higher education. The 7-year option is ideal for receiving funds for the pursuit of professional courses.

Death Benefits

Another perk of Bajaj Allianz Young Assure Policy is the death benefits. In the event of the demise of the policyholder, the ‘Sum Assured on Death’ is paid. It is higher of GMB or Sum Assured. The policy is converted to a fully paid-up policy.

Additional Read: Save Your Wealth With A Health Insurance Plan

Accidental Permanent Total Disability Benefit

In the event of Accidental Permanent Total Disability of the policyholder, the policy is converted to a fully paid-up policy, and the maturity benefits will be paid as per the plan. This is yet another advantage of Young Assure Policy.

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