Bharati AXA Life Insurance has introduced a new child insurance plan ‘Bharati AXA Shining Stars’. This new insurance provides life cover to parents and provides children with financial stability.
As mentioned in a press release, the plan shields children from financial insecurity with guaranteed buyouts and helps secure the children’s future. It helps parents choose a maturity payout option as per child’s needs and goals.
Bharati AXA Life ensures that children receive benefits once the policy is matured, even in the absence of their parents. It allows the child to continue his/her studies and helps them pursue a suitable career goal.
Bharati AXA Life Shining Stars is a non-linked, non-participating limited pay endowment life insurance plan that provides assured payouts at maturity and enables parents to collect enough money and secure their child’s future in their absence.
This insurance plan allows parents to choose from two payout options- Flexi Payout Option and Annual Payout Option. This option can be picked at the start of the policy or modified at the time of maturity. You can always tweak it to your preference and your child’s.
Under the Flexi Payout Option, the maturity amount can be taken at time of maturity or at the end of the year during maturity buyout period so that the buyout can suit the child’s needs.
In the Annual Payout Option, five equal payout options will be made at the end of the year starting from the date of maturity to enable the child to have a decent higher education.
You can start buy this insurance at 18 until your 60 years of age. Those who opt for this insurance also get tax benefits on premium payments.
Bharati AXA Shining Stars comes with a great benefit that even after the policy maker dies with no additional premiums to be paid. So, parents who constantly worry about the welfare of their children after a sudden death of either of them can keep their woes aside. This insurance combined both savings and protection to help ensure a planned future for children.
The insurance helps you choose from nine different premium terms paying terms and policy terms with a payable premium. It also allows the policy holder to take a loan for the company in wake of any emergencies.
