SlideShare a Scribd company logo
1 of 10
Download to read offline
Bajaj Allianz
Lifelong
Assure
th
Future safe till your 100 birthday
BajajAllianz LifelongAssure
BajajAllianzLifelongAssure-Assuringyoulifelongincome
withalifelongcover!
We all wish for regular flow of income at all stages of our
life,butmostofthetimeachievingthoseoverage&timeis
not possible. Helping you with a solution, we at Bajaj
Allianz developed Lifelong Assure – a unique plan that
th
providesyouincome&protectiontillyour100 birthdayso
thatyoucanliveworry-freeforalifetime.
A Non-linked Whole Life Plan
Lifelong Assure
Key Advantages
Bajaj Allianz Lifelong Assure is a participating individual limited premium whole life endowment plan The key advantages of
this plan are: th
• CashBonusstartingfromtheendof6 year
• GuaranteedCashBackstartingfromtheendofPremiumPaymentTerm
• Lifecoveruptotheageof100years
• GuaranteedDeathBenefitofupto300%ofSumAssureddependingonthePPTchosen
• Optiontotakepolicybenefitinmonthlyinstallments
• Choiceof3premiumpaymentterms,viz.,10,15and20years
• Morevalueformoneywithhighsumassuredrebate
• Premiumrebateforfemalelives
How does your Plan work?
Youcancustomizeyourpolicytosuityourrequirementinthefollowingmanner:
Step1: ChooseyourSumAssured
Step2: ChooseyourPremiumPaymentTerm(PPT)
Yourpremiumwillbebasedonyourcurrentage,SumAssured,PPT&premiumpaymentfrequency.
Benefits payable
a. You will start receiving Guaranteed Cash Back of 3% of your Sum Assured every year, from the end of your premium payment
termtilltheageof99years
th
b.YouwillbeentitledforCashBonusdeclared,ifany,startingfromtheendof6 policyyeartilltheageof99years.
Survival Benefit
Maturity Benefit
Yourpolicywillmatureattheageof100years.Onthematuritydate,ifallpremiumsarepaid,theMaturityValueunderyourpolicy,
asmentionedinthebelowtable,willbepaidandthepolicywillterminate.
PPT Sum Assured on Maturity
10 years 200% of Sum Assured
15 years 250% of Sum Assured
20 years 300% of Sum Assured
Inaddition,terminalbonus,ifany,willbepaid.
Sample Illustration
Lifelong Assure
In case of unfortunate death of the life assured during the policy term, provided all the due premiums have been paid under the
policy,thedeathbenefitpayabletothenomineeshallbeasfollows
a. Forageatentrylessthan45years,higherof
i) 10timesannualisedpremium*
ii) 105%oftotalpremium*paidtilldateofdeath
iii) 200%,250%or300%ofsumassureddependingonthePPTchosen.
b. Forageatentry45years&above,higherof
I) 7timesannualisedpremium*
ii) 105%oftotalpremium*paidtilldateofdeath
iii) 200%,250%or300%ofsumassureddependingonthePPTchosen.
Inaddition,interimcashbonus&terminalbonus,ifany,willbepaid.
*AnnualizedPremiumandtotalpremiumisexclusiveofextrapremiumandservicetaxandcess,ifany
Death Benefit
Ravi aged 30 years has taken a Bajaj Allianz Lifelong Assure policy for a premium paying term of 20 years. The Sum Assured
chosenbyhimis`5,00,000forwhichheispayinganannualpremiumof `51,805afterahighsumassuredrebateof `4000.The
benefitsreceivedbyRaviwillbeasfollows.
Age 30 years Age 50 years Age 60 years Age 80 years Age 100 years
On Maturity
Benefit of
` 15,00,000
Policy Term 70 years
Premium paying term 20 years
` ` ` `` ` ` `
th
Cash Bonus from the end of 6 year
Guaranteed Cash Back of 3% from the end of PPT
Lifelong Assure
PremiumshownaboveisexclusiveofServiceTax&cess,andanyextrapremium.
For female lives 3 years age set back is applicable in premium calculation. For substandard and smokers extra premium shall be
chargedasperboardapprovedunderwritingnorms.
Cashbonusmentionedaboveisnotguaranteedandwillbebasedonactualexperience.
Features
Youcanavailloansunderyourpolicy,providedyourpolicyhasacquiredasurrenderbenefit.Theloanamountshallbeupto80%of
thesurrendervalue.
Loan
Option to take Policy Benefits in monthly installments
Youoryournomineewillhavetheoptiontotakethematuritybenefitordeathbenefitinequalmonthlyinstallmentsoveraperiod
of 5 or 10 years from the date of maturity or the date of intimation of death. The same needs to be informed prior to the date of
maturityorinwritingatthetimeoffilingthedeathclaimform.
Eachmonthlyinstallmentwillbeanamountequivalentto:
• For5years: factor1*maturity/deathbenefitdividedby60
• For10years: factor2*maturity/deathbenefitdividedby120
Wherefactor1is1.04fora5-yeartermandfactor2is1.08fora10-yearterm.
AfterapprovalfromIRDA,thesefactorscanberevisedinthefuture.
The policyholder or the nominee will have the option at any time to discontinue receiving the monthly installment during the
installmentperiod.
On receiving the request, the policyholder or nominee will be eligible for an amount equal to the maturity or death benefit (as
applicable)lessthetotalamountofinstallmentsalreadypaidasonthedateofrequest.
Age 30 years Age 50 years Age 60 years Age 80 years Age 100 years
Death Benefit
of ` 15,00,000
will be paid
Policy Term 70 years
Premium paying term 20 years
` ` ` `` ` ` `
th
Cash Bonus from the end of 6 year
Guaranteed Cash Back of
3% from the end of PPT
Incaseofunfortunatedeathatage65years,thenomineewillreceive `15,00,000
Total Premium Paid - `10, 36, 100
Total Cash Bonus Paid - `8, 70, 000
Total Guaranteed Cash
Back Paid - `2, 25, 000
Death Benefit payout - `15, 00, 000
Total Benefit Received - `25, 95, 000
Lifelong Assure
High Sum Assured Rebate (HSAR)
The plan offers an attractive premium discount structure, where you can have a discount on the annual premium for each
complete additional ` 1,000 sum assured purchased over and above the minimum sum assured of ` 1,00,000 as mentioned in
thetablebelow:
Age Band HSAR (in `) for PPT
(in years) 10 yrs 15 yrs 20 yrs
10 to 25 19 15 14
26 to 40 14 12 10
41 to 55 11 9 8
Example: Ravi aged 30 years has taken a Bajaj Allianz Lifelong Assure policy
for a premium paying term of 20 years & Sum Assured of ` 5,00,000. The
annual premium will be ` 55,805 before high sum assured rebate. After a
highsumassuredrebateof `4000,theannualpremiumwillbe `51,805.
Tax Benefits
Premium paid are eligible for tax benefits under section 80C of the Income Tax Act and maturity benefit, death benefit and
surrenderbenefitareeligiblefortaxbenefitsunderSection10(10D)oftheIncomeTaxAct,subjecttotheprovisionstatedtherein.
Surrender Benefit
• Youwillhavetheoptiontosurrenderyourpolicyprovidedatleast3fullyears’premiumshavebeenpaid
• ThesurrendervalueshallbehigheroftheGuaranteedSurrenderValue(GSV)andtheSpecialSurrenderValue(SSV)
• The GSV will be a percentage of premiums paid less the total of all the Guaranteed Cash Backs, where premiums paid are
excludingpremiumsforalladditionalriderbenefitsifany,andextrapremiums,ifany
Policy Surrender Year 3 4 to 20 21 to 25 26 to 30 31 to 35 36 to 40 41 onwards
Proportion of the premiums paid till date 30% 50% 52% 53% 56% 60% 65%
• TheSSVfactorsarenotguaranteedandmaychangefromtimetotimesubjecttotheapprovalofIRDA
Example: Ravi aged 30 years has taken a Bajaj Allianz Lifelong Assure policy for a policy term (PT) of 70 years. The Sum Assured
chosen by him is ` 5,00,000 for which he has paid total 5 annual premium of ` 431,525 for premium paying term of 10 years. At
th
theendof5 yearhewantstosurrender.ThesurrendervaluereceivedbyRaviwillbeasfollows:
GSV= `215,763(50%oftotalpremiumspaid)
Outstandingterm=65years,surrenderfactor=0.950359,reducedsumassured=250,000;
SSV=0.950349*250,000= `237,587
Surrendervaluepayable= `237,590(HigherofGSVorSSVwillbepayableasaSurrendervalue)
Early Termination Value
If at least one full year’s premiums have been and twelve months have been completed but three full years’ premiums have not
beenpaid,theearlyterminationvaluewillbeavailable.
In case of early termination by the policyholder or non-payment of due premium during this period, the following Early
TerminationValuewillbepaid:
Lifelong Assure
Number of Full Years’ Premiums paid Early Termination Value as a Percentage of the premiums paid till date
1 11%
2 15%
Product Terms and Conditions
Eligibility Condition
Parameter Details
Minimum Entry Age 10 years
Maximum Entry Age 55 years
Policy Term 100 minus Age At Entry
Premium Paying Term 10, 15 and 20 years
Minimum Premium
Maximum Premium No limit
Minimum Sum Assured ` 100,000
Maximum Sum Assured No limit
Premium Payment Frequency Yearly, Half yearly, Quarterly and Monthly
Monthly premium payment frequency will be
available under salary deduction scheme & ECS. It
will not be available at the inception of your policy.
Frequency PPT 10 PPT 15 PPT 20
Yearly ` 18,303 ` 13,401 ` 10,811
Half-Yearly `10,000 ` 8,500 ` 7,000
Quarterly ` 5,500 ` 4,625 ` 3,875
Monthly `2,000 `1,667 ` 1,471
Wherepremiumstakenareexcludinganyextrapremiumand/oranyservicetax&cessonpremium.
Thisearlyterminationvaluewillbepaidonrequestforterminationofthepolicybypolicyholder,deathorendoftherevivalperiod,
whicheverhappensearlier.
What happens if you are unable to pay your premiums?
Ifyouhavenotpaidfirst3years’premiumsinfull,then,yourpolicywillimmediatelylapseattheexpiryofthegraceperiod.
Ifyouhavepaidatleast3years’premiumsinfullandstoppedpayingsubsequentpremiums,then,
a) Yourpolicywillbeconvertedtoapaid-uppolicywithareducedsumassured.
b) The maturity or death benefit, if the premiums are discontinued after 3 years’ premiums have been paid in full, will reduced
sumassuredasmentionedinthetablebelow:
PPT Death / Maturity Benefit for paid-up policy
10 years 200% of Reduced Sum Assured
15 years 250% of Reduced Sum Assured
20 years 300% of Reduced Sum Assured
c) If at least 5 years’ premiums have been paid in full, then, guaranteed cash back and cash bonus (if any) will be paid, based on
thereducedsumassured.
You may revive your lapsed/paid-up policy during the revival period of 2 years from the due date of first unpaid premium,
subjecttotherevivalconditionsundertheplan.
Revival
Ifyourpolicyislapsed/paid-upduetonon-paymentofpremium,youmayrevivethepolicysubjecttothefollowingconditions:
a) Theapplicationforrevivalismadewithintwo(2)yearsfromthedateofthefirstunpaidpremium;
b) AlltheduepremiumstogetherwithinterestatsuchrateastheCompanymaydecidefromtimetotimeispaid.
c) Satisfactoryevidenceofyourgoodhealth,atyourexpense,issubmitted;
d) Therevivalofthepolicymaybeontermsdifferentfromthoseapplicabletothepolicybeforeitlapsed/becamepaid-up,based
onprevailingBoardapprovedunderwritingnorms;
e) TherevivalwilltakeeffectonlyonitbeingspecificallycommunicatedbytheCompanytothepolicyholder;
f) TheCompanymayrefusetorevivethepolicy,basedontheBoardapprovedunderwritingguidelines.
g) TheduebutunpaidGuaranteedCashBackandCashBonusasonthedateofrevivalwillbepaidimmediately.
Lifelong Assure
Foreclosure
If you have taken loan and the outstanding loan plus the loan interest, in a paid-up policy, become equal to the surrender value
available under the policy, then, your policy shall be foreclosed after a notice to you, and no further benefits under the policy will
bepayable.
Termination
Thispolicyshallautomaticallyandimmediatelyterminateontheearlieroccurrenceofeitherofthefollowingevents:
a) OnpaymentofEarlyTerminationValue.
b) Onfullsurrenderofthepolicyonreceiptofvaliddocumentsforthesame.
c) Attheendoftherevivalperiod,ifpremiumshavenotbeenpaidduringthefirstthree(3)policyyears.
d) Onthedateofintimationofdeathofthelifeassured.
e) Ondateofforeclosureofthepolicy,ifoutstandingloanplusinterestunderapaid-uppolicyexceedsthesurrenderbenefit.
f) Onthematuritydate.
Grace Period
If you have failed to make payment of the premium by the due date specified, you will be allowed a grace period of 30 days for
premiumpaymentfrequenciesotherthanmonthlyand15daysformonthlyfrequencytopaytheduepremium.
If the death of the life assured occurs during the grace period, the death benefit shall be payable under the policy as if the policy
wasinforceforfullSumAssuredafterdeductionoftheoutstandingpremiumsdueunderyourpolicyasonthatdate.
Lifelong Assure
Definitions
1) Sum Assured: This is the amount you need to choose at inception of the policy to decide the survival benefits, death benefit,
maturitybenefitand,ifapplicable,thesurrenderbenefitundertheyourpolicy.
2) Reduced Sum Assured: This is applicable when you discontinue the payment of premium under your policy after paying at
least 3 years’ premiums in full. This amount is arrived at, as on due date of discontinuance, by multiplying Sum Assured with
theratioofnumberofpremiumspaidtothenumberofpremiumspayableunderyourpolicy.
3) Bonus:TheCompany willcarryoutannualvaluation (asperthecurrentIRDAregulation)attheendofeachfinancialyearand
maydeclarefollowingthebonuses.
a. Cash Bonus: After the premium paying term, the Company may declare cash bonus as a percentage of the sum assured
whichwillbepayableattheendofeveryyearfortheapplicablepolicies.
b. Interim Cash Bonus: The Company may declare interim cash bonus, which will be payable for the deaths or maturities
occurringduringtheinter-valuationdates.
Free Look Period
Within 15 days [thirty (30) days in case this policy is issued under the provisions of IRDA Guidelines on Distance Marketing* of
InsuranceProducts]ofthereceiptofthispolicy,youwillhavetheoptiontoreviewthetermsandconditionsofthepolicyandifyou
disagree to any of the terms & conditions, you will have an option to return the policy stating the reasons for your objections. You
shallbeentitledtoarefundcomprisingtheallpremiums(excludingapplicabletaxes)paid,lesstheproportionateamountofrisk
premium&additionalriderbenefitpremium,ifany,fortheperiodthelifeassuredwasoncoverandtheexpensesincurredbythe
Companyonmedicalexaminationandstampdutycharges.
* Distance Marketing includes every activity of solicitation (including lead generation) and sale of insurance products through
modesotherthaninperson.
Exclusions
Ifthelifeassuredcommitssuicide,whethersaneorinsane,theCompany’sliabilityshallbelimitedtotheextentof
• ifthedateofdeathis1yearfromthedateofcommencementofrisk,80%ofthepremiumpaid;
• ifthedateofdeathis1yearfromthedateofthelatestrevival,80%ofthepremiumpaidorthesurrendervalueasonthedateof
intimationofdeath,whicheverishigher.
Thevalidityofthecontractofinsurancewillbedeterminedinaccordancewiththeactualdateofdeathofthelifeassuredandnot
thedateofintimationofdeath.
Lifelong Assure
Nomination and Assignment
If you effect a policy on your own life, you need to nominate a person to receive the death benefit under the policy in the event of
deathofthelifeassured.ThisnominationshallbeinaccordancewithSection39oftheInsuranceAct,1938.
YouwillalsohaverighttoassignyourpolicyinaccordancewithSection38oftheInsuranceAct,1938.
Prohibition of Rebate: Section 41 of the Insurance Act, 1938
Nopersonshallalloworoffertoallow,eitherdirectlyorindirectly,asaninducementtoanypersontotakeoutorreneworcontinue
an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission
payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy
acceptanyrebate,exceptsuchrebateasmaybeallowedinaccordancewiththepublishedprospectusesortablesoftheinsurer.
Any person making default in complying with the provision of this section shall be punishable with a fine that may extend to five
hundredrupees.
Statutory Information
NoPolicyoflifeinsuranceeffectedafterthecomingintoforceofthisActshall,aftertheexpiryoftwoyearsfromthedateonwhich
it was effected, be called in question by an insurer on the ground that a statement made in the proposal for insurance or in any
report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the policy, was
inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was
materialtodiscloseandthatitwasfraudulentlymadebythepolicy-holderandthatthepolicyholderknewatthetimeofmakingit
thatthestatementwasfalseorthatitsuppressedfactswhichitwasmaterialtodisclose.
Fraud & Misrepresentation: Section 45 of the Insurance Act, 1938
Why Bajaj Allianz Life Insurance?
Bajaj Allianz is a joint venture between Bajaj Finserv Limited and Allianz SE. Both enjoy a reputation of expertise, stability and
strength. This joint venture Company incorporates global expertise with local experience. The comprehensive, innovative
solutions combine the technical expertise and experience of Allianz SE, and in-depth market knowledge and goodwill of
“Bajaj” brand in India. Competitive pricing and quick honest response have earned the Company the customer's trust and
marketleadershipinaveryshorttime.
Disclaimer
This sales literature gives the salient features of the plan only. The policy document is the conclusive evident of contract and
providesindetailsalltheconditionsandexclusionsrelatedtoBajajAllianzLifelongAssure.
Contact Details
BJAZ-PB-0385/11-Jan-14
Bajaj Allianz Life Insurance Company Limited,
G.E. Plaza, Airport Road, Yerawada, Pune - 411 006.
Tel: (020) 6602 6777. Fax: (020) 6602 6789. | www.bajajallianz.com
SMS LIFE 56070
For any queries please contact:
BSNL/MTNL
(Toll Free)
1800 22 5858
Other
(Chargeble)
<Prefix City Code> 3030 5858
Any Mobile & Landline
(Toll Free)
1800 209 5858
email: life@bajajallianz.co.in chat: bajajallianzlife.co.in/chat
Insurance is the subject matter of the solicitation
For More Information: Kindly consult our “Insurance Consultant” or call us today on the TOLL FREE numbers mentioned above. This
brochure should be read in conjunction with the Benefit Illustration and Policy Exclusions. Please ask for the same along with the
quotation.
Bajaj Allianz Lifelong Assure is A Non-Linked Whole Life Plan.
BajajAllianzLifelongAssure (UIN:116N122V01)
Lifelong Assure

More Related Content

What's hot

Lic New Limited Payment Endowment Plan Table No 830 Details
Lic New Limited Payment Endowment Plan Table No 830 DetailsLic New Limited Payment Endowment Plan Table No 830 Details
Lic New Limited Payment Endowment Plan Table No 830 DetailsSatyendra Gupta - 9811362697
 
Single premium endowment
Single premium endowmentSingle premium endowment
Single premium endowmentLIC of India
 
05 Mahalife Gold
05 Mahalife Gold05 Mahalife Gold
05 Mahalife Goldatma123
 
LIC - Jeevan Shagun
LIC - Jeevan ShagunLIC - Jeevan Shagun
LIC - Jeevan ShagunLIC of India
 
Jeevan vriddhi 808 plan by.p.t
Jeevan vriddhi 808 plan  by.p.tJeevan vriddhi 808 plan  by.p.t
Jeevan vriddhi 808 plan by.p.tPradeep Patil
 
Whole life-super-brochure
Whole life-super-brochureWhole life-super-brochure
Whole life-super-brochureRanjan Bharti
 
All existing plans lic of india
All existing plans lic of indiaAll existing plans lic of india
All existing plans lic of indiaShashikant Shardul
 
the magic of jeevan Saral plan
the magic of jeevan Saral planthe magic of jeevan Saral plan
the magic of jeevan Saral planSaumitra Basu
 
Table no. 165 jeevan saral
Table no. 165 jeevan saralTable no. 165 jeevan saral
Table no. 165 jeevan saralNeeraj Saini
 
Lic Children's Money Back Premium Payment Plan Table no 832 Details
Lic Children's Money Back Premium Payment Plan Table no 832 DetailsLic Children's Money Back Premium Payment Plan Table no 832 Details
Lic Children's Money Back Premium Payment Plan Table no 832 DetailsSatyendra Gupta - 9811362697
 
Post office(SB, FD, RD, Insurance schemes)
Post office(SB, FD, RD, Insurance schemes)Post office(SB, FD, RD, Insurance schemes)
Post office(SB, FD, RD, Insurance schemes)Neetu Ps
 
New money back 25 years
New money back   25 yearsNew money back   25 years
New money back 25 yearsLIC of India
 
LIC Jeevan Labh Plan
LIC Jeevan Labh PlanLIC Jeevan Labh Plan
LIC Jeevan Labh PlanTHEPOLICYKART
 

What's hot (16)

Lic New Limited Payment Endowment Plan Table No 830 Details
Lic New Limited Payment Endowment Plan Table No 830 DetailsLic New Limited Payment Endowment Plan Table No 830 Details
Lic New Limited Payment Endowment Plan Table No 830 Details
 
Jeevanshagun lic best tax saving policy
Jeevanshagun lic best tax saving policyJeevanshagun lic best tax saving policy
Jeevanshagun lic best tax saving policy
 
Single premium endowment
Single premium endowmentSingle premium endowment
Single premium endowment
 
LinkClick55
LinkClick55LinkClick55
LinkClick55
 
05 Mahalife Gold
05 Mahalife Gold05 Mahalife Gold
05 Mahalife Gold
 
LIC - Jeevan Shagun
LIC - Jeevan ShagunLIC - Jeevan Shagun
LIC - Jeevan Shagun
 
Jeevan vriddhi 808 plan by.p.t
Jeevan vriddhi 808 plan  by.p.tJeevan vriddhi 808 plan  by.p.t
Jeevan vriddhi 808 plan by.p.t
 
Whole life-super-brochure
Whole life-super-brochureWhole life-super-brochure
Whole life-super-brochure
 
Lic jeevan saral 165
Lic jeevan saral 165Lic jeevan saral 165
Lic jeevan saral 165
 
All existing plans lic of india
All existing plans lic of indiaAll existing plans lic of india
All existing plans lic of india
 
the magic of jeevan Saral plan
the magic of jeevan Saral planthe magic of jeevan Saral plan
the magic of jeevan Saral plan
 
Table no. 165 jeevan saral
Table no. 165 jeevan saralTable no. 165 jeevan saral
Table no. 165 jeevan saral
 
Lic Children's Money Back Premium Payment Plan Table no 832 Details
Lic Children's Money Back Premium Payment Plan Table no 832 DetailsLic Children's Money Back Premium Payment Plan Table no 832 Details
Lic Children's Money Back Premium Payment Plan Table no 832 Details
 
Post office(SB, FD, RD, Insurance schemes)
Post office(SB, FD, RD, Insurance schemes)Post office(SB, FD, RD, Insurance schemes)
Post office(SB, FD, RD, Insurance schemes)
 
New money back 25 years
New money back   25 yearsNew money back   25 years
New money back 25 years
 
LIC Jeevan Labh Plan
LIC Jeevan Labh PlanLIC Jeevan Labh Plan
LIC Jeevan Labh Plan
 

Similar to Bajaj Allianz Life Long Assure| Retirement Insurance Solution

KotakAssuredIncomeAcceleratorPlan
KotakAssuredIncomeAcceleratorPlanKotakAssuredIncomeAcceleratorPlan
KotakAssuredIncomeAcceleratorPlanGururaja Setty TG
 
Kotak Guaranteed Savings Plan - Kotak Life
Kotak Guaranteed Savings Plan - Kotak LifeKotak Guaranteed Savings Plan - Kotak Life
Kotak Guaranteed Savings Plan - Kotak LifeShaunakPatel19
 
E-Brochure For Kotak Guaranteed Savings Plan - Kotak Life
E-Brochure For Kotak Guaranteed Savings Plan - Kotak LifeE-Brochure For Kotak Guaranteed Savings Plan - Kotak Life
E-Brochure For Kotak Guaranteed Savings Plan - Kotak LifeShaunakPatel19
 
E-Brochure For Kotak Assured Savings Plan - Kotak Life
E-Brochure For Kotak Assured Savings Plan - Kotak LifeE-Brochure For Kotak Assured Savings Plan - Kotak Life
E-Brochure For Kotak Assured Savings Plan - Kotak LifeShaunakPatel19
 
E-Brochure For Kotak Assured Savings Plan - Kotak Life
E-Brochure For Kotak Assured Savings Plan - Kotak LifeE-Brochure For Kotak Assured Savings Plan - Kotak Life
E-Brochure For Kotak Assured Savings Plan - Kotak LifeShaunakPatel19
 
E-Brochure For Kotak Saral Jeevan Bima - Kotak Life
E-Brochure For Kotak Saral Jeevan Bima - Kotak LifeE-Brochure For Kotak Saral Jeevan Bima - Kotak Life
E-Brochure For Kotak Saral Jeevan Bima - Kotak LifeShaunakPatel19
 
E-Brochure For Kotak Saral Jeevan Bima - Kotak Life
E-Brochure For Kotak Saral Jeevan Bima - Kotak LifeE-Brochure For Kotak Saral Jeevan Bima - Kotak Life
E-Brochure For Kotak Saral Jeevan Bima - Kotak LifeShaunakPatel19
 
Sampoorn Nivesh - Comprehensive ULIP Policy | HDFC Life
Sampoorn Nivesh - Comprehensive ULIP Policy | HDFC LifeSampoorn Nivesh - Comprehensive ULIP Policy | HDFC Life
Sampoorn Nivesh - Comprehensive ULIP Policy | HDFC LifeLisaDavid26
 
ICICI_Pru_iProtect_Return_of_Premium_Brochure.pdf
ICICI_Pru_iProtect_Return_of_Premium_Brochure.pdfICICI_Pru_iProtect_Return_of_Premium_Brochure.pdf
ICICI_Pru_iProtect_Return_of_Premium_Brochure.pdfNirav Ruchandani
 
E-Brochure for Kotak Premier Moneyback Plan
E-Brochure for Kotak Premier Moneyback PlanE-Brochure for Kotak Premier Moneyback Plan
E-Brochure for Kotak Premier Moneyback PlanviralAgarwal
 
Click 2 Protect Super: Comprehensive Protection Plan Online 2022 - HDFC Life
Click 2 Protect Super: Comprehensive Protection Plan Online 2022 - HDFC LifeClick 2 Protect Super: Comprehensive Protection Plan Online 2022 - HDFC Life
Click 2 Protect Super: Comprehensive Protection Plan Online 2022 - HDFC LifeLisaDavid26
 
Sbi life insurance project
Sbi life insurance projectSbi life insurance project
Sbi life insurance projectSabbar Tunvar
 
sbi life insurance project
sbi life insurance projectsbi life insurance project
sbi life insurance projectSabbar Tunvar
 
Kotak e-Invest Plan
Kotak e-Invest PlanKotak e-Invest Plan
Kotak e-Invest PlanviralAgarwal
 
Aegon Life iGuarantee Max Savings Brochure.pdf
Aegon Life iGuarantee Max Savings Brochure.pdfAegon Life iGuarantee Max Savings Brochure.pdf
Aegon Life iGuarantee Max Savings Brochure.pdfAegon Life
 
EQUITRUST INCOME FOR LIFE RIDER
EQUITRUST INCOME FOR LIFE RIDEREQUITRUST INCOME FOR LIFE RIDER
EQUITRUST INCOME FOR LIFE RIDERWilliam Wolfson
 
Mc062124237 v01-hdfc-life-click-2-protect-life-retail-brochure
Mc062124237 v01-hdfc-life-click-2-protect-life-retail-brochureMc062124237 v01-hdfc-life-click-2-protect-life-retail-brochure
Mc062124237 v01-hdfc-life-click-2-protect-life-retail-brochureMithileshChoudhary7
 

Similar to Bajaj Allianz Life Long Assure| Retirement Insurance Solution (20)

KotakAssuredIncomeAcceleratorPlan
KotakAssuredIncomeAcceleratorPlanKotakAssuredIncomeAcceleratorPlan
KotakAssuredIncomeAcceleratorPlan
 
Kotak Guaranteed Savings Plan - Kotak Life
Kotak Guaranteed Savings Plan - Kotak LifeKotak Guaranteed Savings Plan - Kotak Life
Kotak Guaranteed Savings Plan - Kotak Life
 
E-Brochure For Kotak Guaranteed Savings Plan - Kotak Life
E-Brochure For Kotak Guaranteed Savings Plan - Kotak LifeE-Brochure For Kotak Guaranteed Savings Plan - Kotak Life
E-Brochure For Kotak Guaranteed Savings Plan - Kotak Life
 
E-Brochure For Kotak Assured Savings Plan - Kotak Life
E-Brochure For Kotak Assured Savings Plan - Kotak LifeE-Brochure For Kotak Assured Savings Plan - Kotak Life
E-Brochure For Kotak Assured Savings Plan - Kotak Life
 
E-Brochure For Kotak Assured Savings Plan - Kotak Life
E-Brochure For Kotak Assured Savings Plan - Kotak LifeE-Brochure For Kotak Assured Savings Plan - Kotak Life
E-Brochure For Kotak Assured Savings Plan - Kotak Life
 
E-Brochure For Kotak Saral Jeevan Bima - Kotak Life
E-Brochure For Kotak Saral Jeevan Bima - Kotak LifeE-Brochure For Kotak Saral Jeevan Bima - Kotak Life
E-Brochure For Kotak Saral Jeevan Bima - Kotak Life
 
E-Brochure For Kotak Saral Jeevan Bima - Kotak Life
E-Brochure For Kotak Saral Jeevan Bima - Kotak LifeE-Brochure For Kotak Saral Jeevan Bima - Kotak Life
E-Brochure For Kotak Saral Jeevan Bima - Kotak Life
 
Sampoorn Nivesh - Comprehensive ULIP Policy | HDFC Life
Sampoorn Nivesh - Comprehensive ULIP Policy | HDFC LifeSampoorn Nivesh - Comprehensive ULIP Policy | HDFC Life
Sampoorn Nivesh - Comprehensive ULIP Policy | HDFC Life
 
ICICI_Pru_iProtect_Return_of_Premium_Brochure.pdf
ICICI_Pru_iProtect_Return_of_Premium_Brochure.pdfICICI_Pru_iProtect_Return_of_Premium_Brochure.pdf
ICICI_Pru_iProtect_Return_of_Premium_Brochure.pdf
 
Annuity Presentation
Annuity PresentationAnnuity Presentation
Annuity Presentation
 
New bima bachat
New bima bachatNew bima bachat
New bima bachat
 
E-Brochure for Kotak Premier Moneyback Plan
E-Brochure for Kotak Premier Moneyback PlanE-Brochure for Kotak Premier Moneyback Plan
E-Brochure for Kotak Premier Moneyback Plan
 
Click 2 Protect Super: Comprehensive Protection Plan Online 2022 - HDFC Life
Click 2 Protect Super: Comprehensive Protection Plan Online 2022 - HDFC LifeClick 2 Protect Super: Comprehensive Protection Plan Online 2022 - HDFC Life
Click 2 Protect Super: Comprehensive Protection Plan Online 2022 - HDFC Life
 
Sbi life insurance project
Sbi life insurance projectSbi life insurance project
Sbi life insurance project
 
sbi life insurance project
sbi life insurance projectsbi life insurance project
sbi life insurance project
 
Kotak e-Invest Plan
Kotak e-Invest PlanKotak e-Invest Plan
Kotak e-Invest Plan
 
Aegon Life iGuarantee Max Savings Brochure.pdf
Aegon Life iGuarantee Max Savings Brochure.pdfAegon Life iGuarantee Max Savings Brochure.pdf
Aegon Life iGuarantee Max Savings Brochure.pdf
 
EQUITRUST INCOME FOR LIFE RIDER
EQUITRUST INCOME FOR LIFE RIDEREQUITRUST INCOME FOR LIFE RIDER
EQUITRUST INCOME FOR LIFE RIDER
 
Aviva- iGrowth
Aviva- iGrowthAviva- iGrowth
Aviva- iGrowth
 
Mc062124237 v01-hdfc-life-click-2-protect-life-retail-brochure
Mc062124237 v01-hdfc-life-click-2-protect-life-retail-brochureMc062124237 v01-hdfc-life-click-2-protect-life-retail-brochure
Mc062124237 v01-hdfc-life-click-2-protect-life-retail-brochure
 

Recently uploaded

Money Forward Integrated Report “Forward Map” 2024
Money Forward Integrated Report “Forward Map” 2024Money Forward Integrated Report “Forward Map” 2024
Money Forward Integrated Report “Forward Map” 2024Money Forward
 
What is sip and What are its Benefits in 2024
What is sip and What are its Benefits in 2024What is sip and What are its Benefits in 2024
What is sip and What are its Benefits in 2024prajwalgopocket
 
Introduction to Health Economics Dr. R. Kurinji Malar.pptx
Introduction to Health Economics Dr. R. Kurinji Malar.pptxIntroduction to Health Economics Dr. R. Kurinji Malar.pptx
Introduction to Health Economics Dr. R. Kurinji Malar.pptxDrRkurinjiMalarkurin
 
10 QuickBooks Tips 2024 - Globus Finanza.pdf
10 QuickBooks Tips 2024 - Globus Finanza.pdf10 QuickBooks Tips 2024 - Globus Finanza.pdf
10 QuickBooks Tips 2024 - Globus Finanza.pdfglobusfinanza
 
OAT_RI_Ep18 WeighingTheRisks_Mar24_GlobalCredit.pptx
OAT_RI_Ep18 WeighingTheRisks_Mar24_GlobalCredit.pptxOAT_RI_Ep18 WeighingTheRisks_Mar24_GlobalCredit.pptx
OAT_RI_Ep18 WeighingTheRisks_Mar24_GlobalCredit.pptxhiddenlevers
 
Zimbabwe's New Gold-Backed Currency- A Path to Stability or Another Monetary.pdf
Zimbabwe's New Gold-Backed Currency- A Path to Stability or Another Monetary.pdfZimbabwe's New Gold-Backed Currency- A Path to Stability or Another Monetary.pdf
Zimbabwe's New Gold-Backed Currency- A Path to Stability or Another Monetary.pdfFREELANCER
 
Hello this ppt is about seminar final project
Hello this ppt is about seminar final projectHello this ppt is about seminar final project
Hello this ppt is about seminar final projectninnasirsi
 
2B Nation-State.pptx contemporary world nation
2B  Nation-State.pptx contemporary world nation2B  Nation-State.pptx contemporary world nation
2B Nation-State.pptx contemporary world nationko9240888
 
Banking: Commercial and Central Banking.pptx
Banking: Commercial and Central Banking.pptxBanking: Commercial and Central Banking.pptx
Banking: Commercial and Central Banking.pptxANTHONYAKINYOSOYE1
 
Aon-UK-DC-Pension-Tracker-Q1-2024. slideshare
Aon-UK-DC-Pension-Tracker-Q1-2024. slideshareAon-UK-DC-Pension-Tracker-Q1-2024. slideshare
Aon-UK-DC-Pension-Tracker-Q1-2024. slideshareHenry Tapper
 
ΤτΕ: Ανάπτυξη 2,3% και πληθωρισμός 2,8% φέτος
ΤτΕ: Ανάπτυξη 2,3% και πληθωρισμός 2,8% φέτοςΤτΕ: Ανάπτυξη 2,3% και πληθωρισμός 2,8% φέτος
ΤτΕ: Ανάπτυξη 2,3% και πληθωρισμός 2,8% φέτοςNewsroom8
 
ekthesi-trapeza-tis-ellados-gia-2023.pdf
ekthesi-trapeza-tis-ellados-gia-2023.pdfekthesi-trapeza-tis-ellados-gia-2023.pdf
ekthesi-trapeza-tis-ellados-gia-2023.pdfSteliosTheodorou4
 
(Gender) tone at the top: the effect of board diversity on gender inequality
(Gender) tone at the top: the effect of board diversity on gender inequality(Gender) tone at the top: the effect of board diversity on gender inequality
(Gender) tone at the top: the effect of board diversity on gender inequalityGRAPE
 
Uk-NO1 Rohani Amil In Islamabad Amil Baba in Rawalpindi Kala Jadu Amil In Raw...
Uk-NO1 Rohani Amil In Islamabad Amil Baba in Rawalpindi Kala Jadu Amil In Raw...Uk-NO1 Rohani Amil In Islamabad Amil Baba in Rawalpindi Kala Jadu Amil In Raw...
Uk-NO1 Rohani Amil In Islamabad Amil Baba in Rawalpindi Kala Jadu Amil In Raw...Amil baba
 
Demographic transition and the rise of wealth inequality
Demographic transition and the rise of wealth inequalityDemographic transition and the rise of wealth inequality
Demographic transition and the rise of wealth inequalityGRAPE
 
Building pressure? Rising rents, and what to expect in the future
Building pressure? Rising rents, and what to expect in the futureBuilding pressure? Rising rents, and what to expect in the future
Building pressure? Rising rents, and what to expect in the futureResolutionFoundation
 
2024-04-09 - Pension Playpen roundtable - slides.pptx
2024-04-09 - Pension Playpen roundtable - slides.pptx2024-04-09 - Pension Playpen roundtable - slides.pptx
2024-04-09 - Pension Playpen roundtable - slides.pptxHenry Tapper
 

Recently uploaded (17)

Money Forward Integrated Report “Forward Map” 2024
Money Forward Integrated Report “Forward Map” 2024Money Forward Integrated Report “Forward Map” 2024
Money Forward Integrated Report “Forward Map” 2024
 
What is sip and What are its Benefits in 2024
What is sip and What are its Benefits in 2024What is sip and What are its Benefits in 2024
What is sip and What are its Benefits in 2024
 
Introduction to Health Economics Dr. R. Kurinji Malar.pptx
Introduction to Health Economics Dr. R. Kurinji Malar.pptxIntroduction to Health Economics Dr. R. Kurinji Malar.pptx
Introduction to Health Economics Dr. R. Kurinji Malar.pptx
 
10 QuickBooks Tips 2024 - Globus Finanza.pdf
10 QuickBooks Tips 2024 - Globus Finanza.pdf10 QuickBooks Tips 2024 - Globus Finanza.pdf
10 QuickBooks Tips 2024 - Globus Finanza.pdf
 
OAT_RI_Ep18 WeighingTheRisks_Mar24_GlobalCredit.pptx
OAT_RI_Ep18 WeighingTheRisks_Mar24_GlobalCredit.pptxOAT_RI_Ep18 WeighingTheRisks_Mar24_GlobalCredit.pptx
OAT_RI_Ep18 WeighingTheRisks_Mar24_GlobalCredit.pptx
 
Zimbabwe's New Gold-Backed Currency- A Path to Stability or Another Monetary.pdf
Zimbabwe's New Gold-Backed Currency- A Path to Stability or Another Monetary.pdfZimbabwe's New Gold-Backed Currency- A Path to Stability or Another Monetary.pdf
Zimbabwe's New Gold-Backed Currency- A Path to Stability or Another Monetary.pdf
 
Hello this ppt is about seminar final project
Hello this ppt is about seminar final projectHello this ppt is about seminar final project
Hello this ppt is about seminar final project
 
2B Nation-State.pptx contemporary world nation
2B  Nation-State.pptx contemporary world nation2B  Nation-State.pptx contemporary world nation
2B Nation-State.pptx contemporary world nation
 
Banking: Commercial and Central Banking.pptx
Banking: Commercial and Central Banking.pptxBanking: Commercial and Central Banking.pptx
Banking: Commercial and Central Banking.pptx
 
Aon-UK-DC-Pension-Tracker-Q1-2024. slideshare
Aon-UK-DC-Pension-Tracker-Q1-2024. slideshareAon-UK-DC-Pension-Tracker-Q1-2024. slideshare
Aon-UK-DC-Pension-Tracker-Q1-2024. slideshare
 
ΤτΕ: Ανάπτυξη 2,3% και πληθωρισμός 2,8% φέτος
ΤτΕ: Ανάπτυξη 2,3% και πληθωρισμός 2,8% φέτοςΤτΕ: Ανάπτυξη 2,3% και πληθωρισμός 2,8% φέτος
ΤτΕ: Ανάπτυξη 2,3% και πληθωρισμός 2,8% φέτος
 
ekthesi-trapeza-tis-ellados-gia-2023.pdf
ekthesi-trapeza-tis-ellados-gia-2023.pdfekthesi-trapeza-tis-ellados-gia-2023.pdf
ekthesi-trapeza-tis-ellados-gia-2023.pdf
 
(Gender) tone at the top: the effect of board diversity on gender inequality
(Gender) tone at the top: the effect of board diversity on gender inequality(Gender) tone at the top: the effect of board diversity on gender inequality
(Gender) tone at the top: the effect of board diversity on gender inequality
 
Uk-NO1 Rohani Amil In Islamabad Amil Baba in Rawalpindi Kala Jadu Amil In Raw...
Uk-NO1 Rohani Amil In Islamabad Amil Baba in Rawalpindi Kala Jadu Amil In Raw...Uk-NO1 Rohani Amil In Islamabad Amil Baba in Rawalpindi Kala Jadu Amil In Raw...
Uk-NO1 Rohani Amil In Islamabad Amil Baba in Rawalpindi Kala Jadu Amil In Raw...
 
Demographic transition and the rise of wealth inequality
Demographic transition and the rise of wealth inequalityDemographic transition and the rise of wealth inequality
Demographic transition and the rise of wealth inequality
 
Building pressure? Rising rents, and what to expect in the future
Building pressure? Rising rents, and what to expect in the futureBuilding pressure? Rising rents, and what to expect in the future
Building pressure? Rising rents, and what to expect in the future
 
2024-04-09 - Pension Playpen roundtable - slides.pptx
2024-04-09 - Pension Playpen roundtable - slides.pptx2024-04-09 - Pension Playpen roundtable - slides.pptx
2024-04-09 - Pension Playpen roundtable - slides.pptx
 

Bajaj Allianz Life Long Assure| Retirement Insurance Solution

  • 1. Bajaj Allianz Lifelong Assure th Future safe till your 100 birthday BajajAllianz LifelongAssure BajajAllianzLifelongAssure-Assuringyoulifelongincome withalifelongcover! We all wish for regular flow of income at all stages of our life,butmostofthetimeachievingthoseoverage&timeis not possible. Helping you with a solution, we at Bajaj Allianz developed Lifelong Assure – a unique plan that th providesyouincome&protectiontillyour100 birthdayso thatyoucanliveworry-freeforalifetime. A Non-linked Whole Life Plan
  • 2. Lifelong Assure Key Advantages Bajaj Allianz Lifelong Assure is a participating individual limited premium whole life endowment plan The key advantages of this plan are: th • CashBonusstartingfromtheendof6 year • GuaranteedCashBackstartingfromtheendofPremiumPaymentTerm • Lifecoveruptotheageof100years • GuaranteedDeathBenefitofupto300%ofSumAssureddependingonthePPTchosen • Optiontotakepolicybenefitinmonthlyinstallments • Choiceof3premiumpaymentterms,viz.,10,15and20years • Morevalueformoneywithhighsumassuredrebate • Premiumrebateforfemalelives How does your Plan work? Youcancustomizeyourpolicytosuityourrequirementinthefollowingmanner: Step1: ChooseyourSumAssured Step2: ChooseyourPremiumPaymentTerm(PPT) Yourpremiumwillbebasedonyourcurrentage,SumAssured,PPT&premiumpaymentfrequency. Benefits payable a. You will start receiving Guaranteed Cash Back of 3% of your Sum Assured every year, from the end of your premium payment termtilltheageof99years th b.YouwillbeentitledforCashBonusdeclared,ifany,startingfromtheendof6 policyyeartilltheageof99years. Survival Benefit Maturity Benefit Yourpolicywillmatureattheageof100years.Onthematuritydate,ifallpremiumsarepaid,theMaturityValueunderyourpolicy, asmentionedinthebelowtable,willbepaidandthepolicywillterminate. PPT Sum Assured on Maturity 10 years 200% of Sum Assured 15 years 250% of Sum Assured 20 years 300% of Sum Assured Inaddition,terminalbonus,ifany,willbepaid.
  • 3. Sample Illustration Lifelong Assure In case of unfortunate death of the life assured during the policy term, provided all the due premiums have been paid under the policy,thedeathbenefitpayabletothenomineeshallbeasfollows a. Forageatentrylessthan45years,higherof i) 10timesannualisedpremium* ii) 105%oftotalpremium*paidtilldateofdeath iii) 200%,250%or300%ofsumassureddependingonthePPTchosen. b. Forageatentry45years&above,higherof I) 7timesannualisedpremium* ii) 105%oftotalpremium*paidtilldateofdeath iii) 200%,250%or300%ofsumassureddependingonthePPTchosen. Inaddition,interimcashbonus&terminalbonus,ifany,willbepaid. *AnnualizedPremiumandtotalpremiumisexclusiveofextrapremiumandservicetaxandcess,ifany Death Benefit Ravi aged 30 years has taken a Bajaj Allianz Lifelong Assure policy for a premium paying term of 20 years. The Sum Assured chosenbyhimis`5,00,000forwhichheispayinganannualpremiumof `51,805afterahighsumassuredrebateof `4000.The benefitsreceivedbyRaviwillbeasfollows. Age 30 years Age 50 years Age 60 years Age 80 years Age 100 years On Maturity Benefit of ` 15,00,000 Policy Term 70 years Premium paying term 20 years ` ` ` `` ` ` ` th Cash Bonus from the end of 6 year Guaranteed Cash Back of 3% from the end of PPT
  • 4. Lifelong Assure PremiumshownaboveisexclusiveofServiceTax&cess,andanyextrapremium. For female lives 3 years age set back is applicable in premium calculation. For substandard and smokers extra premium shall be chargedasperboardapprovedunderwritingnorms. Cashbonusmentionedaboveisnotguaranteedandwillbebasedonactualexperience. Features Youcanavailloansunderyourpolicy,providedyourpolicyhasacquiredasurrenderbenefit.Theloanamountshallbeupto80%of thesurrendervalue. Loan Option to take Policy Benefits in monthly installments Youoryournomineewillhavetheoptiontotakethematuritybenefitordeathbenefitinequalmonthlyinstallmentsoveraperiod of 5 or 10 years from the date of maturity or the date of intimation of death. The same needs to be informed prior to the date of maturityorinwritingatthetimeoffilingthedeathclaimform. Eachmonthlyinstallmentwillbeanamountequivalentto: • For5years: factor1*maturity/deathbenefitdividedby60 • For10years: factor2*maturity/deathbenefitdividedby120 Wherefactor1is1.04fora5-yeartermandfactor2is1.08fora10-yearterm. AfterapprovalfromIRDA,thesefactorscanberevisedinthefuture. The policyholder or the nominee will have the option at any time to discontinue receiving the monthly installment during the installmentperiod. On receiving the request, the policyholder or nominee will be eligible for an amount equal to the maturity or death benefit (as applicable)lessthetotalamountofinstallmentsalreadypaidasonthedateofrequest. Age 30 years Age 50 years Age 60 years Age 80 years Age 100 years Death Benefit of ` 15,00,000 will be paid Policy Term 70 years Premium paying term 20 years ` ` ` `` ` ` ` th Cash Bonus from the end of 6 year Guaranteed Cash Back of 3% from the end of PPT Incaseofunfortunatedeathatage65years,thenomineewillreceive `15,00,000 Total Premium Paid - `10, 36, 100 Total Cash Bonus Paid - `8, 70, 000 Total Guaranteed Cash Back Paid - `2, 25, 000 Death Benefit payout - `15, 00, 000 Total Benefit Received - `25, 95, 000
  • 5. Lifelong Assure High Sum Assured Rebate (HSAR) The plan offers an attractive premium discount structure, where you can have a discount on the annual premium for each complete additional ` 1,000 sum assured purchased over and above the minimum sum assured of ` 1,00,000 as mentioned in thetablebelow: Age Band HSAR (in `) for PPT (in years) 10 yrs 15 yrs 20 yrs 10 to 25 19 15 14 26 to 40 14 12 10 41 to 55 11 9 8 Example: Ravi aged 30 years has taken a Bajaj Allianz Lifelong Assure policy for a premium paying term of 20 years & Sum Assured of ` 5,00,000. The annual premium will be ` 55,805 before high sum assured rebate. After a highsumassuredrebateof `4000,theannualpremiumwillbe `51,805. Tax Benefits Premium paid are eligible for tax benefits under section 80C of the Income Tax Act and maturity benefit, death benefit and surrenderbenefitareeligiblefortaxbenefitsunderSection10(10D)oftheIncomeTaxAct,subjecttotheprovisionstatedtherein. Surrender Benefit • Youwillhavetheoptiontosurrenderyourpolicyprovidedatleast3fullyears’premiumshavebeenpaid • ThesurrendervalueshallbehigheroftheGuaranteedSurrenderValue(GSV)andtheSpecialSurrenderValue(SSV) • The GSV will be a percentage of premiums paid less the total of all the Guaranteed Cash Backs, where premiums paid are excludingpremiumsforalladditionalriderbenefitsifany,andextrapremiums,ifany Policy Surrender Year 3 4 to 20 21 to 25 26 to 30 31 to 35 36 to 40 41 onwards Proportion of the premiums paid till date 30% 50% 52% 53% 56% 60% 65% • TheSSVfactorsarenotguaranteedandmaychangefromtimetotimesubjecttotheapprovalofIRDA Example: Ravi aged 30 years has taken a Bajaj Allianz Lifelong Assure policy for a policy term (PT) of 70 years. The Sum Assured chosen by him is ` 5,00,000 for which he has paid total 5 annual premium of ` 431,525 for premium paying term of 10 years. At th theendof5 yearhewantstosurrender.ThesurrendervaluereceivedbyRaviwillbeasfollows: GSV= `215,763(50%oftotalpremiumspaid) Outstandingterm=65years,surrenderfactor=0.950359,reducedsumassured=250,000; SSV=0.950349*250,000= `237,587 Surrendervaluepayable= `237,590(HigherofGSVorSSVwillbepayableasaSurrendervalue) Early Termination Value If at least one full year’s premiums have been and twelve months have been completed but three full years’ premiums have not beenpaid,theearlyterminationvaluewillbeavailable. In case of early termination by the policyholder or non-payment of due premium during this period, the following Early TerminationValuewillbepaid:
  • 6. Lifelong Assure Number of Full Years’ Premiums paid Early Termination Value as a Percentage of the premiums paid till date 1 11% 2 15% Product Terms and Conditions Eligibility Condition Parameter Details Minimum Entry Age 10 years Maximum Entry Age 55 years Policy Term 100 minus Age At Entry Premium Paying Term 10, 15 and 20 years Minimum Premium Maximum Premium No limit Minimum Sum Assured ` 100,000 Maximum Sum Assured No limit Premium Payment Frequency Yearly, Half yearly, Quarterly and Monthly Monthly premium payment frequency will be available under salary deduction scheme & ECS. It will not be available at the inception of your policy. Frequency PPT 10 PPT 15 PPT 20 Yearly ` 18,303 ` 13,401 ` 10,811 Half-Yearly `10,000 ` 8,500 ` 7,000 Quarterly ` 5,500 ` 4,625 ` 3,875 Monthly `2,000 `1,667 ` 1,471 Wherepremiumstakenareexcludinganyextrapremiumand/oranyservicetax&cessonpremium. Thisearlyterminationvaluewillbepaidonrequestforterminationofthepolicybypolicyholder,deathorendoftherevivalperiod, whicheverhappensearlier. What happens if you are unable to pay your premiums? Ifyouhavenotpaidfirst3years’premiumsinfull,then,yourpolicywillimmediatelylapseattheexpiryofthegraceperiod. Ifyouhavepaidatleast3years’premiumsinfullandstoppedpayingsubsequentpremiums,then, a) Yourpolicywillbeconvertedtoapaid-uppolicywithareducedsumassured. b) The maturity or death benefit, if the premiums are discontinued after 3 years’ premiums have been paid in full, will reduced sumassuredasmentionedinthetablebelow: PPT Death / Maturity Benefit for paid-up policy 10 years 200% of Reduced Sum Assured 15 years 250% of Reduced Sum Assured 20 years 300% of Reduced Sum Assured c) If at least 5 years’ premiums have been paid in full, then, guaranteed cash back and cash bonus (if any) will be paid, based on thereducedsumassured. You may revive your lapsed/paid-up policy during the revival period of 2 years from the due date of first unpaid premium, subjecttotherevivalconditionsundertheplan.
  • 7. Revival Ifyourpolicyislapsed/paid-upduetonon-paymentofpremium,youmayrevivethepolicysubjecttothefollowingconditions: a) Theapplicationforrevivalismadewithintwo(2)yearsfromthedateofthefirstunpaidpremium; b) AlltheduepremiumstogetherwithinterestatsuchrateastheCompanymaydecidefromtimetotimeispaid. c) Satisfactoryevidenceofyourgoodhealth,atyourexpense,issubmitted; d) Therevivalofthepolicymaybeontermsdifferentfromthoseapplicabletothepolicybeforeitlapsed/becamepaid-up,based onprevailingBoardapprovedunderwritingnorms; e) TherevivalwilltakeeffectonlyonitbeingspecificallycommunicatedbytheCompanytothepolicyholder; f) TheCompanymayrefusetorevivethepolicy,basedontheBoardapprovedunderwritingguidelines. g) TheduebutunpaidGuaranteedCashBackandCashBonusasonthedateofrevivalwillbepaidimmediately. Lifelong Assure Foreclosure If you have taken loan and the outstanding loan plus the loan interest, in a paid-up policy, become equal to the surrender value available under the policy, then, your policy shall be foreclosed after a notice to you, and no further benefits under the policy will bepayable. Termination Thispolicyshallautomaticallyandimmediatelyterminateontheearlieroccurrenceofeitherofthefollowingevents: a) OnpaymentofEarlyTerminationValue. b) Onfullsurrenderofthepolicyonreceiptofvaliddocumentsforthesame. c) Attheendoftherevivalperiod,ifpremiumshavenotbeenpaidduringthefirstthree(3)policyyears. d) Onthedateofintimationofdeathofthelifeassured. e) Ondateofforeclosureofthepolicy,ifoutstandingloanplusinterestunderapaid-uppolicyexceedsthesurrenderbenefit. f) Onthematuritydate. Grace Period If you have failed to make payment of the premium by the due date specified, you will be allowed a grace period of 30 days for premiumpaymentfrequenciesotherthanmonthlyand15daysformonthlyfrequencytopaytheduepremium. If the death of the life assured occurs during the grace period, the death benefit shall be payable under the policy as if the policy wasinforceforfullSumAssuredafterdeductionoftheoutstandingpremiumsdueunderyourpolicyasonthatdate.
  • 8. Lifelong Assure Definitions 1) Sum Assured: This is the amount you need to choose at inception of the policy to decide the survival benefits, death benefit, maturitybenefitand,ifapplicable,thesurrenderbenefitundertheyourpolicy. 2) Reduced Sum Assured: This is applicable when you discontinue the payment of premium under your policy after paying at least 3 years’ premiums in full. This amount is arrived at, as on due date of discontinuance, by multiplying Sum Assured with theratioofnumberofpremiumspaidtothenumberofpremiumspayableunderyourpolicy. 3) Bonus:TheCompany willcarryoutannualvaluation (asperthecurrentIRDAregulation)attheendofeachfinancialyearand maydeclarefollowingthebonuses. a. Cash Bonus: After the premium paying term, the Company may declare cash bonus as a percentage of the sum assured whichwillbepayableattheendofeveryyearfortheapplicablepolicies. b. Interim Cash Bonus: The Company may declare interim cash bonus, which will be payable for the deaths or maturities occurringduringtheinter-valuationdates. Free Look Period Within 15 days [thirty (30) days in case this policy is issued under the provisions of IRDA Guidelines on Distance Marketing* of InsuranceProducts]ofthereceiptofthispolicy,youwillhavetheoptiontoreviewthetermsandconditionsofthepolicyandifyou disagree to any of the terms & conditions, you will have an option to return the policy stating the reasons for your objections. You shallbeentitledtoarefundcomprisingtheallpremiums(excludingapplicabletaxes)paid,lesstheproportionateamountofrisk premium&additionalriderbenefitpremium,ifany,fortheperiodthelifeassuredwasoncoverandtheexpensesincurredbythe Companyonmedicalexaminationandstampdutycharges. * Distance Marketing includes every activity of solicitation (including lead generation) and sale of insurance products through modesotherthaninperson. Exclusions Ifthelifeassuredcommitssuicide,whethersaneorinsane,theCompany’sliabilityshallbelimitedtotheextentof • ifthedateofdeathis1yearfromthedateofcommencementofrisk,80%ofthepremiumpaid; • ifthedateofdeathis1yearfromthedateofthelatestrevival,80%ofthepremiumpaidorthesurrendervalueasonthedateof intimationofdeath,whicheverishigher. Thevalidityofthecontractofinsurancewillbedeterminedinaccordancewiththeactualdateofdeathofthelifeassuredandnot thedateofintimationofdeath.
  • 9. Lifelong Assure Nomination and Assignment If you effect a policy on your own life, you need to nominate a person to receive the death benefit under the policy in the event of deathofthelifeassured.ThisnominationshallbeinaccordancewithSection39oftheInsuranceAct,1938. YouwillalsohaverighttoassignyourpolicyinaccordancewithSection38oftheInsuranceAct,1938. Prohibition of Rebate: Section 41 of the Insurance Act, 1938 Nopersonshallalloworoffertoallow,eitherdirectlyorindirectly,asaninducementtoanypersontotakeoutorreneworcontinue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy acceptanyrebate,exceptsuchrebateasmaybeallowedinaccordancewiththepublishedprospectusesortablesoftheinsurer. Any person making default in complying with the provision of this section shall be punishable with a fine that may extend to five hundredrupees. Statutory Information NoPolicyoflifeinsuranceeffectedafterthecomingintoforceofthisActshall,aftertheexpiryoftwoyearsfromthedateonwhich it was effected, be called in question by an insurer on the ground that a statement made in the proposal for insurance or in any report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the policy, was inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was materialtodiscloseandthatitwasfraudulentlymadebythepolicy-holderandthatthepolicyholderknewatthetimeofmakingit thatthestatementwasfalseorthatitsuppressedfactswhichitwasmaterialtodisclose. Fraud & Misrepresentation: Section 45 of the Insurance Act, 1938 Why Bajaj Allianz Life Insurance? Bajaj Allianz is a joint venture between Bajaj Finserv Limited and Allianz SE. Both enjoy a reputation of expertise, stability and strength. This joint venture Company incorporates global expertise with local experience. The comprehensive, innovative solutions combine the technical expertise and experience of Allianz SE, and in-depth market knowledge and goodwill of “Bajaj” brand in India. Competitive pricing and quick honest response have earned the Company the customer's trust and marketleadershipinaveryshorttime. Disclaimer This sales literature gives the salient features of the plan only. The policy document is the conclusive evident of contract and providesindetailsalltheconditionsandexclusionsrelatedtoBajajAllianzLifelongAssure.
  • 10. Contact Details BJAZ-PB-0385/11-Jan-14 Bajaj Allianz Life Insurance Company Limited, G.E. Plaza, Airport Road, Yerawada, Pune - 411 006. Tel: (020) 6602 6777. Fax: (020) 6602 6789. | www.bajajallianz.com SMS LIFE 56070 For any queries please contact: BSNL/MTNL (Toll Free) 1800 22 5858 Other (Chargeble) <Prefix City Code> 3030 5858 Any Mobile & Landline (Toll Free) 1800 209 5858 email: life@bajajallianz.co.in chat: bajajallianzlife.co.in/chat Insurance is the subject matter of the solicitation For More Information: Kindly consult our “Insurance Consultant” or call us today on the TOLL FREE numbers mentioned above. This brochure should be read in conjunction with the Benefit Illustration and Policy Exclusions. Please ask for the same along with the quotation. Bajaj Allianz Lifelong Assure is A Non-Linked Whole Life Plan. BajajAllianzLifelongAssure (UIN:116N122V01) Lifelong Assure