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Insurance Company
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Bajaj Allianz Life Insurance Company Ltd
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Plan Name
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Bajaj Allianz ChildGain
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Plan Nature
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TRADITIONAL
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Plan Category
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Child Plan
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UIN No.
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116N024V01
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About Plan
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The Bajaj Allianz ChildGain Solutions help you to enjoy the joys of parenthood responsibly, with the reassurance of a secure future for your child.
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Maximum Entry Age
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20 years
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Minimum Entry Age
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50 years
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Minimum Entry Age
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0 ( child)
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Maximum Entry Age
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13 Years (Child)
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Minimum Policy Term
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5 years
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Maximum Policy Term
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21 years
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Minimum Sum Assured
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Rs 1000000
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Maximum Sum Assured
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Rs 5000000
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Benefits
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| Particulars | Description |
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Death Benefits
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In the event of unfortunate death of the child during the polic term, the payouts shall be as under:Below 7 Years - Premiums paid will be refunded without interest and the policy will terminate.Above 7 and below 18 years - Sum assured with accrued bonuses will be paid and the policy will terminate.Above 18 and below 24 years - Outstanding paybouts will be paid as one lumpsum and the policy will terminate.
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Surrender Benefit
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We offer you the choice of surrendering the policy provided three full years premiums have been paid (Two years for premium payment terms of 5 and 6 years).The guaranteed minimum surrender value is 30% of all premiums paid excluding the first year premium and excluding the premiums for Premium Waiver Benefit and Family Income Benefit and Additional Rider Benefit if opted. The guaranteed minimum surrender value after the premium payment term will be the discounted value of the outstanding installment payments discounted at 10% p.a. rate of interest.e
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Premium Waiver Benefit
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In case of death or accidental total permanent disability of the policyholder during the premium payment term, all future premium payments are waived. This benefit will not be available in the event of accidental permanent total disability after age 65 of the policyholder.
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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Family Income Benefit [116B009V01]
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UL Waiver of Permium Benefit [116A019V01]
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Bajaj Allianz ChildGain Solutions help you to enjoy the joys of parenthood responsibly, with the reassurance of a secure future for your child.
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In case of death or accidental total permanent disability of the policyholder during the term of the policy, a monthly income benefit of 1% of the sum assured (12% per annum) subject to a maximum of Rs.10,000 p.m. becomes payable till the end of the policy term. This benefit will not be available in the event of accidental permanent total disability after age 65 of the policyholder.
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For ensuring continuity of the valuable insurance protection that the child was enjoying, we offer the child an option to purchase a with profits endowment or an equivalent plan from Bajaj Allianz Life Insurance Company for twice the amount of face value of this policy, without any medical examination, on the premium rates prevailing at that time (The application must be made at least 6 months prior to maturity of this policy).
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These packages offer you the choice of providing a unique Start of Life Benefit for your child. For a nominal amount, an additional Sum Assured subject to a maximum limit of Rs. 10 lacs will become payable to enable the child start his/her professional life smoothly, in case of an unfortunate death or Accidental Permanent Total Disability of the Policyholder during the term of the policy. This benefit will not be available in the event of accidental permanent total disability, after age 65 of the policyholder.
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Limited Premium Payment Term which means that the premiums are payable till your child attains age 18 years.
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Your contributions grow by the way of compounded annual bonuses, which will be paid to you with the first guaranteed payout (policy anniversary following age 18 of your child), for in-force policies. In addition to the annual bonuses, a terminal bonus may also be paid.
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In an uncertain world, the prime interest of your child cannot be jeopardized in any way. Which is why we have built in some added benefits in all our plans to protect the interests of your child's future, by counter insuring you - the policyholder.
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03-Jul-09
10:49
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Bajaj Allianz has invested Rs 50 cr SKS Microfinance
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16-Jun-09
10:59
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Bajaj Allianz Life has launched Invest Plus
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21-May-09
11:46
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Bajaj Allianz Life Insurance posted profit of Rs 45 Cr in FY09
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13-May-09
12:59
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Bajaj Allianz Life launched ULIP plan
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21-Apr-09
10:41
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Allianz expands India presence into asset management
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11-Apr-09
10:45
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Policies for women : Bajaj Allianz
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31-Mar-09
09:46
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Bajaj Allianz to insure all Volkswagen vehicles
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17-Feb-09
16:20
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Bajaj Allianz launches CenturyPlus II
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20-Jan-09
12:50
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Private insurers see market share rise to 62%
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16-Jan-09
16:20
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Bajaj Allianz Life Insurance GWP is Rs 6726cr
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17-Dec-08
14:15
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Equity-based Ulips outdo indices
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13-Dec-08
11:20
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Allianz sees bright future for its Asian operations
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21-Nov-08
09:56
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Bajaj Allianz to infuse Rs.300 Cr
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30-Aug-08
10:12
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Vijender Singh snapped up by Bajaj Allianz Life Insurance
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22-Aug-08
17:00
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Bajaj Allianz Life Insurance is going in for a rejig
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18-Aug-08
11:40
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Bajaj Allianz Introducing Bajaj Allianz Fortune Plus
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