Investment Plans 244 views January 5, 2021

We know as parents you want the best insurance plan for your child’s future. Understanding your concerns, we have brought to you the top life insurance plans for your child – Aviva Young Scholar Advantage Plan and Bajaj Allianz Young Assure Plan. Aviva Young Scholar Advantage is a non-participating unit-linked regular premium plan which is specially designed for parents taking care of their needs. Whereas Bajaj Allianz Young Assure is a traditional plan, which helps fulfill your child’s dreams irrespective of any financial emergencies. Choosing between the two can be tough for you. But we are here to make it easy by comparing Aviva Young Scholar Advantage Plan vs Bajaj Allianz Young Assure plan. So let’s read this page below and compare these two plans to know which is the best plan for your child as per your requirements.

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What is the Difference Between the Features of Aviva Young Scholar Advantage Plan and Bajaj Allianz Young Assure?

Under the Aviva Young Scholar Advantage plan, you will get the choice of seven unit-linked funds, which are as follows:-

  1. Balanced Fund-II
  2. Bond Fund-II
  3. Enhancer Fund-II
  4. Growth Fund-I,
  5. Infrastructure Fund
  6. PSU Fund
  7. Protector Fund-II

There is a specially designed death benefit under Aviva Young Scholar Advantage Plan that offers complete protection to your child in case of your unfortunate death. As the company pays a sum assured upon death to address your family’s immediate financial concerns. And by paying all the future premiums into your fund, the insurer ensures that all the money you have planned for your child will be available to him even when you are not around. Also with the continuing policy, all the investment benefits will stay intact for your child till its maturity.

While the Bajaj Allianz Young Assure has features like multiple premium payment and policy term options, Guaranteed Maturity Benefit (GMB), Guaranteed Additions (GA) and bonuses, Cash Installment Options as per your future financial needs, comprehensive coverage for death or accidental disability, and an option to enhance your coverage with riders.

Compare Aviva Young Scholar Advantage Plan vs Bajaj Allianz Young Assure Benefits

After knowing a brief about both the policies now let’s compare the Aviva Young Scholar Advantage and Bajaj Allianz Young Assure plan benefits in the table below.

Exclusions from Aviva Young Scholar Advantage and Bajaj Allianz Young Assure

  1. Suicide within 12 months from inception or revival, the nominee will be entitled to the Aviva Young Scholar Advantage Policy fund value.
  2. If the Life Assured commits suicide within 1 year from the date of commencement, 80% of the paid premium will be payable to the nominee under Bajaj Allianz Young Assure.
  3. If the date of death of the life assured is within 1 year from the date of the latest revival, a higher of 80% of the paid premiums or surrender value will be payable to the nominee under Bajaj Allianz Young Assure.
  4. Accidental Death Benefit should not be payable if the accident is caused or aggravated directly or indirectly by alcohol or drug abuse.
  5. Aviation other than as a passenger
  6. Racing, Athletics, Swimming, Parachuting, Potholing, Mountaineering and Hot Air Ballooning.
  7. War, Invasion, Hostilities, Civil War, Rebellion, Riots, Social Disorder, Insurrection, Military or Usurped Power or Willful participation in acts of violence.
  8. Radioactive contamination of nuclear
  9. Condition, Ailment or Injury related to Pre-existing diseases

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