Bajaj Life Child Plans

What are Child Plans?

Child plans are insurance and investment plans that help you build money over time for your child’s big life goals. They offer a mix of life cover and savings so that even if something happens to the parent, the child’s financial future remains secure. These plans usually provide Life protection, Systematic savings, Flexible investment choices, Different payout options, and Tax benefits under Indian income tax laws.

Bajaj Life Child Plans

Bajaj Allianz offers the following child plans to match different financial needs, risk preferences, and long-term goals:

*Monthly premium allowed only under ECS or salary deduction mode.

Investment

Secure

Secure your child’s future with or without you

Start Investing

₹10,000/Month

& Get

₹1 Crore^*

VIEW PLANS

*Standard T & C Apply

Below are the key plans with features of Bajaj Life Child Plans:

1. Bajaj Life Smart Wealth Goal V- Child Wealth Plan

   The Bajaj Allianz Smart Wealth Goal – Child Wealth Plan helps parents build wealth for their child while providing long-term protection. It offers different benefit options, including lump sum, income, or a mix of both. The plan provides life cover, ensuring financial support for the child in case of uncertain events. It is designed specifically to help parents plan expenses like education, higher studies, or marriage.

   Key Features:

   • Guaranteed additions are provided throughout the policy term to grow your savings.
   • The plan continues even after the parent’s death if Waiver of Premium Benefit is chosen.
   • The child’s future goals remain protected because the insurer pays the remaining premiums.
   • You can choose flexible premium and policy terms according to your financial needs.

2. Bajaj Life Goal Assure IV

   The Bajaj Allianz Goal Assure IV is a ULIP plan that helps you grow your money for long-term goals like your child’s education. You can choose from different investment funds based on your risk level. The plan provides life cover that gives the higher value between the Sum Assured and Fund Value.

   Key Features:

   • This ULIP plan gives you loyalty additions like Fund Booster, which increases your maturity value.
   • You can switch between funds anytime without extra charges.
   • You can make partial withdrawals after the first 5 policy years for emergencies.
   • Premium allocation charges are refunded after the 10th policy year or at maturity, based on the plan terms.
   • Tax benefits are available as per current tax laws.

3. Bajaj Life Guaranteed Wealth Goal - Assured Income 

   The Bajaj Life Guaranteed Wealth Goal Plan is a non-linked plan that gives guaranteed returns for your child’s future needs. It is ideal for parents who want stable and predictable returns. The plan offers guaranteed benefits that do not depend on market performance.

   Key Features:

   • You can choose between lump-sum payout or guaranteed income payout after maturity.
   • You can choose different premium payment terms based on your budget.
   • The plan ensures life cover throughout the policy term.
   • Income payouts can be taken monthly, quarterly, half-yearly, or yearly.
   • Offers tax benefits under current income tax rules.

4. Bajaj Allianz Young Assure

   Bajaj Allianz Young Assure is a traditional savings and investment plan designed to help you secure your child's financial future. It provides life cover throughout the policy term to secure your child’s goals. The plan offers multiple policy terms and premium payment terms for flexible planning.

   Key Features:

   • You receive a Guaranteed Maturity Benefit along with Guaranteed Additions and bonuses.
   • You can choose to receive the maturity benefit in installments instead of a lump sum.
   • You can add riders like Waiver of Premium, Accidental Death Benefit, Critical Illness, and more for extra protection.
   • Premium discounts are available if you choose a higher Guaranteed Maturity Amount.
   • The plan offers regular bonuses based on company performance.

Why Do You Need a Child Insurance Plan?

A child plan helps you save in a disciplined way, ensuring you stay prepared for rising education costs and emergencies. These plans also offer:

• Financial protection if the parent is not around
• Continuation of benefits even after policyholder’s death
• Tax benefits under current laws
• Optional rider coverage for added security

How to Buy Bajaj Allianz Child Plans Through Policybazaar?

To buy a child plan from PolicyBazaar, follow these steps:

• Visit the PolicyBazaar homepage and navigate to the "Personal" tab.
• Click on "Child Plans" from the dropdown menu.
• Fill the lead form by providing your name and mobile number.
• After filling out the lead form, click the "View Plans" button.
• Provide details such as your city, income, your age, and your child's age on the next page, then click "Continue."
• You will be directed to the quotes page, where you will find quotes from more than 10 insurers.
• Next, choose the plan type based on the payment schedule – whether it's a one-time payout or a Monthly Payout Plan.
• Select the plan that best suits your needs and click on "Get details". 

Following these steps will guide you through the process of purchasing a child plan from Policybazaar.

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