Bajaj Allianz Life Insurance has launched ‘Young Assure’, a traditional participating insurance plan with features to help one secure enough funds for their child’s future. The plan comes up with an inbuilt feature in case of an unfortunate event. It means, on death or accidental permanent disability of the life assured, all future premiums will be waived and the policy will remain effective and will continue till the maturity date. Also, death benefits will be paid to the beneficiary at the time of death of the life assured.
This plan gives an opportunity to the policyholder to select minimum guaranteed maturity at the time of buying with flexible policy terms of 10, 15 and 20 years. Further, it also gives guaranteed additions to the maturity amount and applicable bonus, thereby ensuring that policyholder/beneficiary gets higher returns at the end of the policy term.
An individual between 18-50 years can start the policy with minimum Rs 1 lakh as guaranteed maturity benefit. There is no upper limit on the maximum guaranteed maturity benefit that can be opted by a policyholder.
Source: This news was published on March 31, 2015 in business-standard.com under the title: Bajaj Allianz Life launches Young Assure.