Bajaj Allianz Child Plans

What are Child Plans?

Child plans are financial products designed to help parents save and invest money for their children's future needs, such as education, marriage, or other major expenses. These plans offer a combination of investment and insurance features tailored to meet the long-term financial goals of parents for their children.

Bajaj Allianz Child Plans

Bajaj Allianz aims to empower parents to invest wisely and systematically for their children's education, marriage, and other milestones. The following are the plans offered by Bajaj Allianz:

1. Bajaj Allianz Lifelong Assure

   Bajaj Allianz Lifelong Assure is a whole life insurance plan designed to offer financial security and guaranteed income throughout your life. Here's a breakdown of its key features:

   Guaranteed Benefits:

   • Guaranteed Cash Back: Receive a guaranteed cash back of 3% of the sum assured every year, starting from the end of your premium payment term and continuing until you turn 99 years old.

   • Cash Bonus (if any): You are eligible for cash bonuses declared by the insurer, starting from the 6th policy year and continuing until you turn 99.

   • Whole Life Coverage: The plan provides life cover up to the age of 100 years.

   • Guaranteed Death Benefit: In case of your unfortunate demise, your nominee will receive a death benefit, which can be as high as 300% of the sum assured, depending on the chosen premium payment term.

   • Optional Income for Nominee: Your nominee can choose to receive the death benefit in equal monthly instalments over a period of 5 or 10 years, providing them with a steady income source.

   Eligibility Details

   	Minimum	Maximum
   Entry Age	10 years	55 years
   Maturity Age	-	100 years
   Policy Term	(100 – age at entry) years
   Sum Assured	Rs.1 lakh	No limit
   Annual Premium Amount	Rs.10, 811	No limit
   Premium Payment Term	10, 15 or 20 years
   Premium Payment Frequency	Yearly, half-yearly, quarterly or monthly

   Minimum Premium

   Frequency	PPT 10	PPT 15	PPT 20
   Yearly	₹18,303	₹13,401	₹10,811
   Half-Yearly	₹10,000	₹8,500	₹7,000
   Quarterly	₹5,500	₹4,625	₹3,875
   Monthly	₹2,000	₹1,667	₹1,417
   Maximum Premium: No Limit

   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

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2. 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 combines life insurance coverage with investment potential, offering a variety of features to suit your needs:

   Investment Benefits:

   • Low Premium Allocation Charge: Maximize your investment returns with minimal charges deducted from your premiums.

   • Choice of Investment Strategies: Select from two unique options:

     • Investor Selectable Portfolio: Choose from 14 different funds based on your risk appetite and investment goals.

     • Wheel of Life Portfolio: Benefit from a pre-defined portfolio that automatically adjusts based on your child's age and maturity date.

   • Flexibility:

     • Partial Withdrawals: Access a portion of your savings after the fifth policy year for unforeseen needs.

     • Change Payment Frequency: Modify your premium payment schedule (yearly, half-yearly, quarterly, or monthly) as needed.

   • Receive benefits in instalments: Choose to receive the maturity or death benefit payout over a period of up to five years in monthly, quarterly, half-yearly, or yearly instalments.

   • Riders: Enhance your plan with optional riders for broader protection:

   • Bajaj Allianz Accidental Death Benefit Rider

   • Bajaj Allianz Accidental Permanent Total / Partial Disability Benefit Rider

   • Bajaj Allianz Critical Illness Benefit Rider

   • Bajaj Allianz Family Income Benefit Rider

   • Bajaj Allianz Waiver of Premium Benefit Rider

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   Eligibility Details

   	Minimum	Maximum
   Entry Age	18 years	50 years
   Maturity Age	28 years	60 years
   Policy Term	10, 15, 20 years
   Sum Assured	10 times the annual premium
   Guaranteed Maturity Benefit	Rs.1 lakh	No limit
   Annual Premium Amount	Depends on the Guaranteed Maturity Benefit, age, term and the premium paying tenure
   Premium Payment Term	5 years	20 years
   Premium Payment Frequency	Yearly, half-yearly, quarterly or monthly

Why Do You Need a Child Insurance Plan?

A child insurance plan is essential because it provides financial security for your child's future, especially in the event of your absence. It helps parents save systematically for their child's education, marriage, and other needs. With rising education costs and inflation, such plans offer a hedge against financial uncertainties. Moreover, they provide peace of mind to parents and often come with tax benefits. In short, a child insurance plan ensures a secure and stable financial future for your child.

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 out the lead form by providing your name and mobile number.

• After filling out the lead form, click on 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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