Asian Life Insurance launches Bal Vabisya Plus term life insurance scheme; to provide insurance coverage to children of all ages

Asian Life Insurance has launched Bal Vabisya Plus term insurance policy for its customers.

Children who are just born till 17 years old kids can have life insurance coverage with a maturity of five to twenty five years where the minimum insurance coverage amount has to be rs 50 thousand, as per the media statement.

Under this scheme, the entire insured amount and the acquired bonus will be paidback after expiry of the term in case the insured person continues to live. The insured amount will be returned to the nominee in case the insured person expires before the policy expires while the entire insured amount will be returned in case the guardian passes away before the policy expires.

Likewise, 25% of the insured amount will be immediately refunded to the nominee in case the insured person expires after the policy kicks in while the remaining 75% insured amount and acquired bonus will be paid back after the expiry of the policy, as per the media statement.