• Get Life Cover worth Rs.1 Crore at Rs.17 per day2 – Bajaj Allianz Life Smart Protection Goal

  • Apne life goals ki guaranteed1 hona Ye Bhi Sahi Hai

  • Fulfill your Life Goals with Bajaj Allianz Life Goal Assure

  • Here's a Comprehensive Tool To Plan Your Child's Future

  • There is lot to remember in Life, Set renewal premium payments to Auto Pay

  • Get your Life Goals Done with Bajaj Allianz Life Smart Assist – BINA MILEY MIL-KAR

  • Paying your Renewal Premium is Quick and Easy!

  • Know the right amount of Insurance you need in just a few steps!

  • Avail Term Insurance Tax Benefits under Section 80D

  • Know how to invest money during the covid-19 pandemic!


Thanks for showing your interest, A representative from
Bajaj Allianz life will contact you shortly.

Dear Customer, we request you to connect with us in our next business working hours, (Monday to Saturday 24*6) Thank you, Have a great day ahead


I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) or on National Do Not Call Registry (NDNC), any call made, SMS or WhatsApp sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business


Please refer to BALIC Privacy Policy

Get 1 Crore Life Cover@ Rs.20 Per Day2

Covers COVID-19 Claims##

How to name a child as a life insurance nominee | Bajaj Allianz Life

Pay lower premium3 on online term plans

Please enter a Name
Please enter a Mobile No.
Please check the box to proceed
WS_LIGuideHome_Banner_EN 307 38983691 WS_LIGuideHome_Banner_HI 307 38983695
WS_LIGuideHome_Banner_Mob_EN 307 38983693 WS_LIGuideHome_Banner_Mob_HI 307 38983677
Please Select Language

2,3,##T& C Apply | BJAZ-BN-EC-03414/22

How to name a child as a life insurance nominee

By : Bajaj Allianz Life

Your life insurance policy is aimed at safeguarding the financial well-being of your loved ones in the event of your untimely demise. The death benefit pay-out from your policy will be received by those you list as nominees in your policy document. While naming your child as an insurance nominee for your life insurance plan may seem prudent, you must consider the nitty-gritty of this process before deciding.


Is it not preferable to Name My Child as A Life Insurance Nominee?


As a parent, your child is your top priority. You wouldn’t want their educational aspirations to be jeopardised if something untoward were to happen to you. Therefore, making your child a nominee for your life insurance policy may not be such a bad idea.


Alternatives to Naming Your Child as a Nominee for Your Life Insurance


If your child is a minor (under 18 years of age), the policy pay-out may be too much for them to bear and a minor will not get the financial benefit if the policyholder fails to give appointee’s information, who is given the pay-out until the minor reaches the age of 18. Hence, you may avoid naming your minor child as the primary nominee for your life insurance plan. However, you can ensure that the death benefit pay-out takes care of your child’s expenses in the following ways:

● Appoint a Custodian -

You can name a person you trust as the legal custodian for your policy pay-out. This person will receive the death benefit pay-out on behalf of your minor child and manage the same to cover your child’s expenses.

● Form a Trust -

Creating a living or revocable trust may also be a prudent choice. In such cases, your insurer pays the death benefit to the trust, which is managed by a trustee.

This trust must be structured in a way that the trustee must use the money for the care of the child. Moreover, since this is a revocable trust, you can alter its terms as and when needed to ensure your child has a financially secured future.

● Name your Child’s Legal Guardian as Contingent Beneficiary -

When drafting a will, most people name their family members or friends as legal guardians of their children. This is done to ensure the child remains safe if something untoward were to happen to both parents.

If you’ve made this inclusion in your will, you should also amend your insurance beneficiary line-up. By naming the legal guardian of your child as a contingent beneficiary in your policy, you ensure that after the death of your spouse (primary beneficiary), the death benefit goes to the guardian of your child who will use it to look after your child.


Wrapping It Up


Life insurance plans are aimed to help your family meet their financial expenses and achieve life goals in your absence. To this end, you can ensure that your child is well taken care of in your absence by naming him/her as a nominee for your life insurance policy. However, when doing so there are certain caveats to consider.


Bajaj Allianz Life Videos


Presenting Shubman Gill as The New ACE Of India | Bajaj Allianz Life | Bajaj Allianz Life ACE

Contact Us

Bajaj Allianz Life Insurance Company Ltd.

Bajaj Allianz House, Airport Road, Yerawada, Pune - 411 006, Maharashtra

Tel No: 020-66026773

Branch Visit Timings:

Monday to Friday - 9:00 AM to 3:30 PM (IST)

Saturday - 9:00 AM to 1:00 PM (IST)

Customer Care Helpline:


Monday to Sunday: 9:00 AM to 7:00 PM (IST)

NRI Services Helpline

24/7 (All week days)

Sales Enquiry Helpline:


Monday to Saturday: 9:00 AM to 7:00 PM (IST)

For NRI: +91-20-35125850 (Call charges apply)

Monday to Saturday: 9:00 AM to 7:00 PM (IST)

Find Us Online

##Our policy covers COVID 19 claims subject to policy terms and conditions being met

3Discount is available for regular premium and limited premium payment frequency under all variants of this product.

2Above illustration is considering Male aged 25 years | Non-Smoker | Life Cover Variant | Policy term (PT)– 30 years | Premium Payment Term (PPT) – 30 years | Sum Assured opted is Rs. 1,00,00,000 | Online Channel | medical rates | Annual Premium Payment Mode | Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws, and any extra premium and is for illustrative purpose only.

In this policy, the investment risk in investment portfolio is borne by the policyholder. Investment in ULIPs is subject to risks associated with the capital markets. The policy holder is solely responsible for his/her decisions while investing in ULIPs.

~Tax benefits as per prevailing Income tax laws shall apply. Please check with your tax consultant for eligibility.

The above information is for general understanding and is meant to educate the general public at large. The reader will have to verify the facts, law and content with the prevailing tax statutes and seek appropriate professional advice before acting on the basis of the above information. 

The views stated in this article is not to be construed as investment advice and readers are suggested to seek independent financial advice before making any investment decisions. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on carefully before concluding a sale.