Bajaj Allianz Life Endowment Insurance Plans

Bajaj Allianz Life Goal Suraksha (UIN: 116N155V14)

(Bajaj Allianz Life Goal Suraksha is A Non Linked, Non Participating, Individual, Life Insurance Savings Plan)

Key Features:

  • Guaranteed1 Maturity Benefit
  • Offers Guaranteed1 Additions at Maturity
  • Limited Premium Payment Term
  • Option to take policy loan
  • Option to alter premium payment mode

1Conditions Apply – The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors. For more details, please refer to sales brochure (also available on the Website of Bajaj Allianz Life insurance company Ltd.)

Maturity Benefit:

On the maturity date, if all premiums are paid, the Guaranteed1 Sum Assured on Maturity# plus Guaranteed1 Additions, under your policy, will be paid and the policy will terminate.

Guaranteed1 Additions

On maturity date, if all due premiums have been paid, Guaranteed¹ Additions as a multiple of one Annualized Premium3 will be paid along with the maturity benefit. Guaranteed¹ additions will not be payable in case of a lapsed or paid-up policy.

Death Benefit

In case of unfortunate death of the Life Assured due to accident during the waiting period$ or in case of death of the Life Assured after the waiting period$ due to any cause, the death benefit is payable to the nominee(s)/beneficiaries. Such death benefit is stated as Sum Assured on Death which is as below.

The Sum Assured on Death is the higher of:

(i) Sum Assured Multiple x Annualized Premium3, (ii) Sum Assured4

 In case of death of the Life Assured during the Waiting period$ other than due to an accident, the death benefit payable to the nominee(s)/beneficiaries will be the 100% of Total Premiums2 paid till date, excluding any extra premium & Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws.

At no time the Death Benefit will be less than Guaranteed¹ Death Benefit of 105% of the Total Premiums paid2 up to the date of death. The policy will terminate on payment of the death benefit. The policy will terminate on payment of the death benefit.

The death benefit is payable provided the policy is in-force and all due premiums have been paid.

SA multiple allowed under the product are

Age (in years)

SA Multiple

0-49

7 or 10

50-55

5 or 10

Low Cover Mark-up

At the inception of the policy, if you opt for a sum assured multiple of 7 / 5 times the Annualized Premium3, you shall receive a “Low Cover Mark-up” wherein you will be able to enjoy additional Guaranteed¹ Additions resulting into a higher Maturity Benefit. For details on “Low Cover Mark-up” factors kindly visit Bajaj Allianz Life Insurance website.

3“Annualized Premium” shall be the premium amount payable in a year chosen by the policyholder excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any. | 2 “Total Premium paid” means total of all the premiums paid under the base product, excluding any extra premium and taxes, if collected explicitly | # “Guaranteed Sum Assured on Maturity” is (110% x Premium Payment Term) times the Annualized Premium. | 4“Sum Assured (SA)” is SA multiple X the Annualized Premium. | $” Waiting period” is the first 90 days from the date of commencement of risk. Waiting period is not applicable in case of revival.

Click Here to Download Sales Brochure

 

Bajaj Allianz Life Guaranteed Wealth Goal – Wealth Creation (UIN:116N200V04)

(A Non-linked, Non-Participating, Individual, Life Insurance Savings Plan)

Key Features:

  • Guaranteed1 lump-sum on maturity
  • Life Cover during the policy term

Maturity Benefit: Guaranteed1 Maturity Benefit (GMB) Plus Accrued Guaranteed1 Additions.

Guaranteed1 Maturity Benefit (GMB) is equal to the GMB factor multiplied by the Total Premiums5 Paid till the end of Policy Term. The GMB factor varies basis age of the Life Assured, Premium Payment Term, Policy Term and Sum Assured Multiple chosen by the Policyholder at inception of the Policy.

The GMB factors are available on the Bajaj Allianz Life website.

Guaranteed1 Additions (GA) will be added to the Policy at the end of each policy year, starting from the end of second policy year throughout the Policy Term, provided the Policy is in-force and all premiums have been paid. These Guaranteed1 Additions will be calculated as a percentage of Total Premiums5 Paid till the date of addition and will vary basis the Policy Term. The GA is available in the policy provided at least two full policy years’ premiums are paid.

The Guaranteed1 Addition factors are available on Bajaj Allianz Life website.

1Conditions Apply -The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors. For more details, please refer to sales brochure.5Total Premiums Paid means total of all the premiums paid under the policy, excluding any extra premium and taxes, if collected explicitly.

Death Benefit: In case of your unfortunate demise during the Policy Term, the nominee(s) shall receive Sum Assured on Death as a lumpsum benefit.

Sum Assured on Death is equal to Sum Assured (i.e. Annualized Premium4 X Sum Assured Multiple).

Age at entry of the Life Assured (years)

Sum Assured Multiple

0 to 50

7/11/15/20

51 to 60

5/11/15/20

At no time the total Death Benefit will be less than Guaranteed1 Death Benefit of 105% of the Total Premiums5 Paid, up to the date of death or the Surrender Value available then, whichever is higher. The policy will terminate on payment of Death Benefit.

1Conditions Apply -The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors. For more details, please refer to sales brochure. 4Annualized Premium shall be the premium amount payable in a year excluding taxes, rider premiums, underwriting extra premiums and loadings for modal premiums.5Total Premiums Paid means total of all the premiums paid under the policy, excluding any extra premium and taxes, if collected explicitly.

 

Click Here to Download Sales Brochure

 

Bajaj Allianz Life Guaranteed Wealth Goal – Second Income (UIN:116N200V04)

A Non-linked, Non-Participating, Individual, Life Insurance Savings Plan.

Key Features:

  • Guaranteed1 regular income for up to 30 years
  • Option to get back all your premiums3 paid on maturity
  • Decide your income start year

Survival Benefit: Income Instalments are paid during the chosen income period (post the end of

deferment period), as per chosen Income Instalment frequency. Each Income Instalment is equal to

the Base Income Plus Accrued Income Boosters.

Base Income is equal to the Base Income% multiplied by the Total Premiums5 Paid.

Income Booster (IB) will accrue at the end of each policy year starting from the end of 2nd policy

year till the end of the Deferment Period, provided the Policy is in-force and all premiums have been

paid. The IB is available in the policy provided at least two full policy years’ premiums are paid. The

Income Booster (s) accrued till the end of the Deferment Period are paid to the Policyholder as a

part of every Income Instalment.

The Income Booster applicable at the end of each policy year is calculated as a percentage of Total Premiums5 Paid till date.

The Base Income and Income Booster factor varies basis age band, Premium Payment Term, Deferment Period, Income Period and Sum Assured Multiple chosen by the Policyholder at inception of the Policy. The Base Income and Income Booster factors are available on the Bajaj Allianz Life’s website.

1Conditions Apply -The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors. For more details, please refer to sales brochure. | 3The Return of Premium is the total premiums paid means total of all the premiums paid under the policy, excluding any extra premium and taxes, if collected explicitly. | 5Total Premiums Paid means total of all the premiums paid under the policy, excluding any extra premium and taxes, if collected explicitly.

Maturity Benefit: The maturity benefit (if selected with ROP3 option) is payable at the end of the

Policy term along with the last Income Instalment and is equal to the Return of Premium3 (ROP i.e.

Total Premiums5 Paid). If ROP3 has not been chosen, no Maturity Benefit shall be payable.

Death Benefit: In case of Your unfortunate demise during the Policy Term, nominee(s) shall receive

the Sum Assured on Death i.e. Annualized Premium4 X Sum Assured Multiple (chosen by the Life

Assured at inception of the Policy), as a lumpsum benefit.

At no time the total Death Benefit will be less than Guaranteed1 Death Benefit of 105% of the Total

Premiums Paid5 up to the date of death or the Surrender Value available then, whichever is higher.

1Conditions Apply -The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors. For more details, please refer to sales brochure.

3The Return of Premium is the total premiums paid means total of all the premiums paid under the policy, excluding any extra premium and taxes, if collected explicitly.

4Annualized Premium shall be the premium amount payable in a year excluding taxes, rider premiums, underwriting extra premiums and loadings for modal premiums.

5Total Premiums Paid means total of all the premiums paid under the policy, excluding any extra premium and taxes, if collected explicitly.

 

Click Here to Download Sales Brochure

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