Every parents dream is to give a bright career to their child. To fulfil this dream parents can do anything. Both time and financial investment is required for reaching the education goals of your child. As a parent, you must start investing money from today for the savings of your child education. If you want to give your child a great career, then Bajaj Allianz Young Assurance plan is an amazing investment plan for you
Eligibility of Bajaj Allianz Young Assurance Plan:
|Age of entry||Minimum age- 18 years Maximum age- 50 years|
|Sum Assured||10 x Annual premium|
|Age of maturity||Minimum maturity age- 28 years Maximum maturity age- 60 years|
|Frequency of premium payment||Monthly or yearly or quarterly or half-yearly|
|Guaranteed Maturity Benefit||Minimum is Rs 1 lakh, Maximum according to board-approved underwritten policy|
|Premium||It depends upon age, the term of premium payment, frequency of premium payment, chosen GMB|
Advantage of Bajaj Allianz Young Assurance Plan:
1. Vested bonus along with terminal bonus (if any) will be provided on maturity
2. The guaranteed maturity benefit and the guaranteed additions will be provided on maturity. Guaranteed additions will be 90% of the guaranteed maturity benefit
3. Three options of cash instalments are available. According to the milestones of the education of your child, the maturity benefit can be received over 3 or 4 or 7 years as per your choice
4. 5 rider benefits are available. You can choose between them. These are accidental death benefit rider, critical illness benefit rider, Disability benefit rider, family income benefit rider and more
5. The GMB or sum assured (higher) will be provided immediately to the nominee if the death of the insured happens. The policy will become fully paid policy in case of accidental disability. The guaranteed maturity benefit and the guaranteed additions y and Vested bonus along with terminal bonus (if any) will be provided.
6. Three options of policy term are available. Like 10, 15 and 20 years. Many options for premium paying terms are available for each policy term.
Working Procedure of this plan:
Firstly, you have to select the term of your policy
Secondly, choose the term of your premium payment
Thirdly, choose the frequency of your premium payment
Fourthly, select your guaranteed maturity benefit
Finally, select any option of cash instalment
Conclusion: In this article, I have discussed the Bajaj Allianz Young Assurance Plan in details. I hope this will help you to compare this plan with others. Choosing the right investment plan for your child’s career is very important. So choose it wisely.