7 Reasons to Avail a Child Plan from Bajaj Allianz
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7 Reasons to Avail a Child Plan from Bajaj Allianz

  • Highlights

  • Build an educational corpus with Bajaj Allianz Child Plan

  • 3 cash instalment options

  • Comprehensive coverage and riders available

  • Avail tax benefits and other options

Build Educational Corpus with a Child Plan from Bajaj Allianz

Bajaj Allianz Young Assure is a non-linked participating limited premium payment endowment plan that provides uninterrupted flow of income during your child’s school and college years. This income commences from the end of the policy term.

Another plan, Bajaj Allianz Life Young Assure Plus is a combination of two Bajaj Allianz Young Assure policies.

Bajaj Allianz child plans offer varying policy terms, premium payment terms and cash instalment options. Based on your needs you can choose any of these.

Policy Term Premium Paying Term
10 5,7
15 12,15
20 12,15,20our

There are three cash instalment options to choose from to cater to your financial needs.

Cash Instalments Cash Instalment Options
Option I - 3 years Option II - 5 years Option III - 7 years
1 Guaranteed Additions + (Vested Bonus + Interim Bonus if any)
2 50% of GMB 22% of GMB 12% of GMB
3 55% of GMB + Terminal Bonus if any 25% of GMB 15% of GMB
4   28% of GMB 18% of GMB
5   34% of GMB + Terminal Bonus if any 20% of GMB
6     23% of GMB
7     25% of GMB + Terminal Bonus if any
Total GMB Payable 105% of GMB 109% of GMB 113% of GMB

Whether it is a wedding or a personal business venture, the first option provides guaranteed maturity benefit (GMB) over 2 years.

The other options can be chosen to pay your child’s school/college fees, fees for n professional courses, extra-curricular expenses, etc.

Let’s say that you take a Bajaj Allianz Life Young Assure Plus Solution with policy terms 15 years (P1) and 20 years (P2), where premium payment term is 15 years, and cash instalment option II. You will get 10 cash instalments over 10 years.

Comprehensive Coverage

Child plans by Bajaj Allianz provide coverage for accidental permanent total disability and death of the policy holder. Due to these events, if the premium paying term is not complete, the company pays for the remaining term. The policy will continue as a fully paid-up policy till maturity of each of the policy terms. On maturity the cash instalments are paid.

Additional Read : How to Invest In a Child Plan?

Other Important Benefits

Other benefits which make Bajaj Allianz Child Plans a preferred choice are:
- Enhancement of your coverage with rider benefits
- Option to take maturity benefit as a lumpsum
- Option to change premium payment frequency
- Tax benefits on premium payments (u/s 80 C), and benefits (u/s 10(10D) subject to the provisions
- Special rates for female policyholders

You can connect with our advisor to know more about Bajaj Allianz child plans.

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