Young Care of Bajaj Allianz Life Insurance has been designed to offer enhanced insurance cover to the family member of the insured. This is one such policy that offers guaranteed returns on the sum that has been assured in this policy.
Some of the main features and benefits of Young Care of Bajaj Allianz Life Insurance are as follows:
- The insured are allowed to try this policy for fifteen days which is referred here as free look period. If the person doesn’t like the policy then he or she might return the policy within fifteen days.
- In this policy the insured is eligible to have tax benefits, which is as per the provisions of section 80C, 80D and 10(10D) of the Indian income tax act. The premiums that are paid for keeping the policy in force are eligible for tax rebate as per section 80C and the partial withdrawal are fully exempted from tax as per section 10(10D).
- Riders are also available here by which the insured can add some extra features to this policy. The riders that are available here are total or partial disability rider and accidental death benefit rider. This can be obtained after making the payment of some additional premium.
- There is also a provision for reviving the policy that has been lapsed due to non payment of premium. This is done within two years of the term by writing an application. Apart from this the policy could be terminated under certain circumstances.
- If during the term of the policy, the insured losses its life due to accident then the nominee of this policy would be getting the fund value at the time of maturity.
- A person must be more then eighteen but not more then fifty years of age to become eligible for this policy.
These are some of the features and benefits of Young Care of Bajaj Allianz Life Insurance.