Young Care Plus of Bajaj Allianz Life Insurance is an insurance plan that offers excellent financial assistance so as to overcome the various financial obstacles in ones life. This is one such plan that the insured can easily secure the future of his or her loved ones.
Features and benefits of Young Care Plus are:
• The minimum entry age is 18years.
• The minimum term of this policy is 10 years and the minimum premium that is to be paid for this policy is Rs. 20,000 per year.
• The frequency for making the payment of the premiums is yearly, half-yearly, quarterly and monthly.
• There is also a fifteen day free look period in which the insured can review the terms and conditions of the policy. If he or she is not comfortable with the terms then they must return the policy within fifteen days. In this case the insured would be getting the refund of the policy premium.
• Tax benefits are offered in this policy to the policy holder which are as per the provisions of section 80(D), 80C and 10(10D) of the Indian income tax act. The premium that has been paid for making the policy stable and at force are eligible for tax benefit as per section 80C. for partial withdrawal and surrender value, the tax benefit is claimed under section 10(10D).
• Riders are also available in this policy and those riders that are available are critical illness benefit rider and accidental death benefit rider.
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