Bajaj Allianz is a first-class insurance company in India that provides numerous insurance plans for different categories of individuals. You can choose from various plans for specific purposes. If you are planning to start saving, you should definitely go for a savings plan offered by Bajaj Allianz as it gives you basic protection coverage and also enables you to save your hard-earned money efficiently. It is a conventional participating plan with a limited premium payment. This plan is specifically designed to build your child’s future effectively. Your kid’s dreams and aspirations can be achieved successfully with the help of this plan.
Bajaj Allianz Young Assure Plan is perfect for anyone who wants to save and increase money for future purposes such as wedding, home construction or renovation, kid’s education, etc. If you are looking for a good endowment plan, this is the ideal plan for you.
|Minimum entry age||18 years|
|Maximum entry age||50 years|
|Minimum maturity age||28 years|
|Maximum maturity age||60 years|
|Policy term||10 years, 15 years, and 20 years|
|Premium payment term||5, 7, 12, 15, 20|
|Type of plan||Savings insurance plan|
The sum assured will be fixed according to the premium payment term that you select. Let us take a look at the sum assured and premium range of Bajaj Allianz Young Assure Plan:
|Sum assured||10 times your annual premium. Your annual premium will not include rider premium, additional premium, and service tax and cess.|
|Maximum premium||Information not provided.|
|Premium payment frequency||Half-yearly, annually, monthly, and quarterly|
|Premium payment mode||ECS, salary deduction scheme|
|Premium modal factor||Half-yearly: 51% Annually: 100%|
|Policy period||5 years, 7 years, 12 years, 15 years, and 20 years|
Premiums vary based on age, location, plan term and other factors.
Bajaj Allianz Young Assure Plan is a great insurance plan that offers maturity benefit, death benefit, and accidental permanent total disability benefit.
|Benefit option||Features of the benefit|
|Maturity benefit||With this plan, you will get Guaranteed Maturity Benefit (GMB), Vested Bonus (VB), Guaranteed Additions (GA), Interim Bonus (IB), and Terminal Bonus (TB). You can choose any one cash installment option for your maturity benefit. You will receive your first installment after the policy matures.|
|Death benefit||When the policyholder dies and if all premiums have been paid completely, the nominee will get the death benefit. This benefit is the sum assured on death. It can be the GMB or the sum assured, whichever is higher.|
|Accidental permanent total disability benefit||When the policyholder suffers from a permanent total disability due to an accident and if all outstanding premiums have been paid, then the policy will be modified into a policy that is completely paid.|
When you take a rider offered by Bajaj Allianz, you will get additional protection for different specific purposes. These riders will protect you and your beloved family members in emergency times. These are the riders that are provided with the Bajaj Allianz Young Assure Plan.
|Bajaj Allianz Accidental Death Benefit Rider|
|Bajaj Allianz Critical Illness Benefit Rider|
|Bajaj Allianz Waiver of Premium Benefit Rider|
|Bajaj Allianz Accidental Permanent Total or Partial Disability Benefit Rider|
|Bajaj Allianz Family Income Benefit Rider|
The Bajaj Allianz Young Assure Plan comes with a few exclusions where certain incidents will not be covered under this policy. These are the details regarding the exclusions of this plan:
The accidental permanent total disability benefit will not be given if the policyholder suffers from disability due to:
Let us discuss some of the other important features of Bajaj Allianz Young Assure Plan:
When you pay premiums for Bajaj Allianz Young Assure Plan, you will receive tax benefits as per section 80C of the Income Tax Act. When you pay for the maturity benefit, surrender benefit, and death benefit, you will get tax benefits as per Section 10(10)D of the Income Tax Act.
These are some of the other benefits of the Bajaj Allianz Young Assure Plan:
Bajaj Allianz is well-known for its successful claim settlement process. For the financial year 2015-16, 98.1% of life insurance claims were settled by the company. When you choose Bajaj Allianz as your insurance provider, you will receive international quality services. The company has won marvellous rewards for its dedicated work and some of the awards include Golden Globe Tigers Award 2017 for Best Life Insurance Company of the Year, Golden Globe Tigers Award 2017 for Claims Initiative of the Year, 7th CMO Asia Awards for Excellence in Branding & Marketing, and lots more!