All About Bajaj Allianz Child Life Plans

Parents always wish for their children a secure future and always want the best for their child. Financial planning is therefore an essential part of parenting and can make you a step ahead and helps you to plan ahead. Child plan is an important financial tool that provides you with a combination of life protection and wealth creation to ensure a secure future for your child. A child plan provides payouts at milestones of your child’s life and are designed to meet the financial requirements of a growing child. Systematic savings through an insurance plan for your child means that you are able to plan for a children's goal with little savings. 

Bajaj Allianz Life Insurance offers child plans which are specially designed for children to fulfill their future needs because as a parent no one wants to compromise anything for their children's future. Education and marriage are two primary milestones of a child’s life. The main milestones would include school admission, higher education, marriage and post-marriage requirements in a child plan. Bajaj Allianz offers the parents with their variety of plans and policies for their children's better and secure future. The benefits mentioned under these plans are paid as assured without being affected by the death of the parent or something. 

All About Bajaj Allianz Child Life Plans 

Bajaj Allianz Life Insurance offers two child plans namely Bajaj Allianz Lifelong Assure and Bajaj Allianz Young Assure. Let’s read these plans in detail - 

• Bajaj Allianz Lifelong Assure

It's a traditional whole life plan which can be taken for the protection and security of the child. Minimum age of the entry under this plan is 10 years and maximum is 55 years. Maturity age of this plan is 100 years. Minimum sum assured on this plan is Rs. 1 Lakh and there is no limit for maximum sum assured. The amount of the premium needs to be paid in 10, 15 or 20 years. The invested amount can be withdrawn after 5 years. There is no limit for maximum deposit. Also, loans can be availed under this plan. 

• Bajaj Allianz Young Assure

The plan enjoys the profits of the company through earning bonuses. Minimum entry age is 18 years and maximum is 50 years. The tenure of the policy is for 10, 15 and 20 years. Minimum maturity age is 28 years and maximum is 60 years. Loans are also available under this plan to a maximum of 90% of surrender value. The plan also has an inbuilt Accidental Permanent Total Disability, then the policy is fully converted into a paid-up plan. Death benefits are also provided under this plan. Sum assured is 10times the annual premium. Minimum premium payment term is for 5 years whereas maximum is 20 years. Special plans are offered by the company which are available online only. 

Conclusion

Child insurance plan helps in complete financial planning for the future of the children. The maturity amount of Bajaj Allianz Child Insurance Plans helps in contributing towards future needs of the children. Child future plans provided by Bajaj Allianz help parents have a sound and stress-free sleep at night by resting their children's future in safe and strong hands. 

Also read 

How Can Child Plans Help You In Funding Your Child's Higher Education?

Most Frequently Asked Questions For Child Life Insurance Plans

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.