Life insurance for children

Start IN LIFE

“Small kids, small worries – big kids, big worries”. We often hear this phrase, but we get to understand it only in time. We realize that, once the kids grow, also their needs grow, as well as the financial resources required to satisfy these needs.

By concluding a JUNIOR life insurance policy for children, you make sure that, at the end of the insurance contract, starting with the coming of age, the child will get the sum set by you and something extra. And this will happen even if you, due to any unfortunate event, will not be able to pay the insurance premiums anymore.

Duration

  • Minimum 10 years – Maximum 26 years
    (upon expiry date of the policy the child’s age should be between 18- 27 years).

Assured person

  • Children aged between 1 – 17 years old at the date the policy comes into force.

Policy holder

  • Mother, father, grandfather, grandmother, god-mother, god-father, brother or sister.

Insurance Indemnity

The set sum assured to be paid to the beneficiary child upon expiry of the insurance policy. The Insurance Indemnity is granted even if the unhappy event of death or invalidity of the policy beholder of the policy holder occurs, because GARANTA ASIGURARI will take over the payment of the insurance premiums.

Payment Frequency

  • Annual, Half-quarterly, Quarterly or Monthly.

Advantages

  • Convenient premiums according to the child’s age.
  • Tax free saving product.
  • Return of premiums in case of death of the Assured Person.
  • Profit share resulted from the investment of the mathematical reserve payable starting with the third year of insurance upon request or upon collecting the insurance indemnity.

For a complete protection, you can add to the basic insurance (either at the initial issue date or subsequently, at any anniversary date) the cover for the Daily Hospital Allowance, detailed below:

Riders

Daily Hospital Allowance Rider

Covers the hospitalization costs as a result of an accident or illness suffered by the Assured Person, paid for each day of hospitalization according to the set sum assured (30/50/75 RON / day). 

Same daily hospital allowance will be granted for a number of days of outpatient treatment and convalescence equal to the number of days of hospitalization. 

For treatment in the resuscitation department, daily hospital allowance will be doubled.

Read here

Essential Information on Life Insurance for Children.

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