Bajaj Allianz Life launches Young Assure

Bajaj Allianz Life Insurance has launched a traditional participating insurance plan called Young Assure with features to help one ensure enough fund for his or her child's future.

Bajaj Allianz Young Assure comes with an in-built premium waiver feature in case of an unfortunate event.

With this feature, on death or accidental permanent total disability of the life assured, all future premiums will be waived and the policy will continue till the maturity date.

Also, on the death of the life assured death benefit will be paid.

The plan offers an opportunity to select minimum guaranteed maturity at the time of buying and also provides guaranteed additions to the maturity amount and applicable bonus, thereby ensuring higher return at the end of the policy term.

A policyholder can select a minimum of Rs 1 lakh as the guaranteed maturity benefit and there is no limit on the maximum guaranteed maturity benefit that can be opted. Minimum entry age to buy Bajaj Allianz Young Assure is 18 years and maximum entry age is 50 years.

The plan has three policy terms of 10, 15 and 20 years.