What is Bajaj Allianz Child Insurance Policy ?-bajaj-allianz-child-insurance-plans

Child plans are developed on the concept of the child’s futures protection if the parent is not around to provide for that himself. These plans generally insure the parent while there may be plans which actually insure the child’s life. If the parent meets with an untimely death, the plan runs without any requirement of future premiums which will be paid by the insurance company. The benefits payable under the plan will be paid as promised without being affected by the death of the insured. If the childs life is insured the company might keep a waiting period of a few years at the start of the policy where no coverage will be provided. This period is called the Deferment Period. Under such plans, the child will become the owner of the policy once he crosses 18 years of age.