Here, i have described about life insurance products of " Bajaz Allianz Life Insurance Company Ltd " and " Life Insurance Corporation OF India " which can be availed by all eligible individuals which includes • I-SECURE INSURANCE PLAN • MONEY BACK PLAN/CASH ASSURE • PENSION PLAN • ENDOWMENT PLAN

1. LIFE INSURANCE PRODUCTS AVAILABLE
FOR AN INDIVIDUAL
NIBEDITA SINGH(16DM044)
RAJARAM MOHANTY(16DM016)
THEODAR KAR(16DM045)
PRADOSH MOHANTY(16DM082)

2. A life insurance policy is a contract with an insurance company. In
exchange for premium payments, the insurance company provides
a lump-sum payment, known as a death benefit, to beneficiaries
upon the insured's death.
LIFE INSURANCE

3. LIFE INSURANCE CORPORATION (LIC)
• Life Insurance Corporation of India is an Indian state-owned insurance
group and investment company headquartered in Mumbai.
• It is the largest insurance company in India with an estimated asset
value of 1,560,482 crore (US$240 billion).
• The Life Insurance Corporation of India was founded in 1956 when
the Parliament of India passed the Life Insurance of India Act that
nationalized the private insurance industry in India.

4. LIC’S PRODUCTS
• TERM PLANS
• ENDOWMENT PLANS
• PENSION PLANS
• MONEY BACK PLANS
• ULIPs

5. TERM PLANS
• Term insurance plans offer protection to individuals at low
cost.
• If the policy holder dies during the tenure of the plan then he
or she get the considerable benefit.
1) Anmol jeevan
LIC Anmol Jeevan 2 plan number 822 is a regular premium paying
conventional without profit pure protection plan.
Premium payment
mode
term Min.
entry
age
Max.
entry
age
Max. cover
ceasing age
Min.
sum
assured
Max.
sum
assured
Yearly,halfly 5 to 25
years
18 years 55 years 65 years 600000 2400000

6. 2) Amulya Jeevan (823)
LIC Amulya jeevan 2 plan number 823 is a regular premium
paying conventional without profit pure protection plan.
Premium payment
mode
term Min.
entry
age
Max.
entry
age
Max. cover
ceasing age
Min.
sum
assured
Max.
sum
assure
d
Yearly, halfly 5 to 35
years
18 years 60 years 70years 2500000 No
limit

7. ENDOWMENT PLANS
Endowment plans provide a disciplined route for savings, which
could come in handy in case of a financial emergency.
1) New Endowment plan(814)
LIC New Endowment plan(814) is a regular premium, non-linked,
with profits Endowment plan.
Premium payment
mode
term Min.
entry
age
Max.
entry
age
Max. cover
ceasing age
Min.
sum
assured
Max.
sum
assure
d
Yearly,
halfly,quarterly,mo
nthly
12 to
35
years
8 years 55 years 75years 100000 No
limit

8. 2) New Jeevan Anand Plan(815)
LIC New Jeevan Anand (815) plan is a participating non linked
plan which offers an attractive combination of protection and
saving
Premium payment
mode
term Min.
entry
age
Max.
entry
age
Max. cover
ceasing age
Min.
sum
assured
Max.
sum
assure
d
Yearly,
halfly,quarterly,mo
nthly
15 to
35
years
18 years 50years 75years 100000 No
limit

9. MONEY BACK PLAN
1) Money Back 20 years
Premium payment
mode
term Min.
entry
age
Max.
entry
age
Max. cover
ceasing age
Min.
sum
assured
Max.
sum
assure
d
Yearly,
halfly,quarterly,mo
nthly
20
years
13 years 50 years 75 years 100000 No
limit

10. 2) Bima Bachat(816)
Premium payment
mode
term Min.
entry
age
Max.
entry
age
Max.
maturity age
Min.
sum
assured
Max.
sum
assure
d
Yearly,
halfly,quarterly,mo
nthly
9 years
12 years
15 years
15 years 66 Years
63 years
60 years
75 years 35000
50000
70000
No
limit

11. PENSION PLAN
1) Jeevan Nidhi
Premium
payment mode
term Min.
entry
age
Max.
entry
age
Min.
vesting age
Maxim
um
vesting
age
Minimu
m sum
assured
Max.
sum
assur
ed
Yearly,
halfly,quarterly,
monthly
7 to
35yea
rs
20
years
58
years
55 years 65 100000 No
limit

12. 2) Jeevan Akshay vi(189)
Premium payment
mode
Min. entry
age
Max. entry
age
Minimum
sum
assured
Max.
sum
assured
Yearly,
halfly,quarterly,monthly
30 years 85 years 100000 No limit

14. TYPES OF INSURANCE
• Traditional(Term Life Insurance, Whole Life
Policy, Anticipated Endowment Plans)
• ULIPs

15. BAJAJ ALLIANZ i-SECURE INSURANCE
PLAN
• Bajaj Allianz i-Secure Insurance Plan; a level cover term
assurance plan that secures your family’s financial needs.
KEY FEATURES OF BAJAJ ALLIANZ ISECURE INSURANCE PLAN
• Get the advantage of a level term cover at low cost, especially
for larger sum assured.
• Benefit of attractive high sum assured rebate.
• Flexibility to:
• Select your policy term of 10, 15, 20, 25 or 30 years
depending on your requirement
• Alter your premium payment frequency (Y/H/M)
• Include your spouse at a later date in your existing policy, if
you are single at present

16. • POLICY LOAN
• Policy loan is not available under this plan.
•
• TAX BENEFITS
• Premiums paid are eligible for tax benefits as
per Section 80C of the Income Tax Act
• Death benefit(s) are eligible for tax benefits as
per Section 10(10D) of the Income Tax Act

17. NOMINATION
• you need to nominate a person to receive the
death benefit under the policy in the event of
death of the life assured.

18. HOW DOES BAJAJ ALLIANZ i-SECURE
INSURANCE PLAN WORK?
Bajaj Allianz iSecure Insurance Plan offers you the choice
to cover your spouse as well jointly with yourself.
• Step 1: Choose either individual or a joint life cover
• Step 2: Choose your sum assured(s) (Life Cover)
• Step 3: Choose your policy term & premium payment
frequency
• Your premium will be based on your current age(s),
sum assured(s), lifestyle category (if applicable), policy
term and premium payment frequency.

20. 2.BAJAJ ALLIANZ CASH ASSURE (MONEY BACK
PLAN)
KEY FEATURES OF BAJAJ ALLIANZ CASH ASSURE
INSURANCE PLAN
• Money back at regular interval
• Guaranteed Money Back of upto 150% of the
Sum Assured, depending on policy term
chosen
• Choice of 4 policy terms, 16, 20, 24 and 28
years
• Benefit from shorter premium payment term

21. Eligibility

22. NON-PAYMENT OF PREMIUMS
• If you have not paid at least first 3 full years’ premiums, then
your policy will immediately lapse at the expiry of the grace
period and no benefits under the plan will be paid.
• If the death of the life assured occurs during the grace period,
the death benefit shall be paid under the policy .
• If at least first 3 full years’ premiums have been paid and
subsequent premiums are not paid, then, the policy will be
converted to a paid-up policy at the expiry of the grace
period.

23. 3.BAJAJ ALLIANZ PENSION PLAN
• Step 1: Choose the purchase price (the amount which is
utilized to purchase Bajaj Allianz Life Pension Guarantee)
• Step 2: Choose your annuity option
• Step 3: Choose your annuity payment frequency
• Step 4: Provide your spouse’s details, if you have opted for
Joint Life Last Survivor Options.

24. BENEFITS
• With Bajaj Allianz Life Pension Guarantee, you can ensure a
regular income after retirement. Your first annuity payment
will be paid one month/ three months/ six months or one
year after the commencement of this policy, depending on
the annuity payment mode chosen by you – monthly,
quarterly, half-yearly or yearly respectively.

27. 4.BAJAJ ALLIANZ ENDOWNMENT PLAN
The key advantages of this plan are:
• Maturity benefit and death benefit of 115% of the sum
assured, which is guaranteed
• Choice of 2 policy terms - 15 and 17 years
• No premium is payable in the last five years of your policy
• Ensures more value for money with high sum assured rebate
• Option to take your policy benefit in monthly installments
over a period of 5 or 10 years

28. How does your Plan work?
• You can customize your policy to suit your requirement in the
following manner:
• Step 1: Choose your Sum Assured
• Step 2: Choose your Policy Term

29. BENEFITS
MATURITY BENEFIT
• You will receive 115% of your sum assured as maturity benefit
on the maturity date, provided all due premiums have been
paid.
DEATH BENEFIT
• If all due premiums have been paid, then, in case of
unfortunate death of the life assured during the policy term,
the Sum Assured on Death will be payable as death benefit to
the nominee.

31. CASE
• According to the case this man need endowment
plan because it provide a disciplined route for
savings, which could come in handy in case of a
financial emergency.
• Also, people who are risk averse and do not mind
settling for lesser return than taking additional risks
should go for endowment plans.

32. REASON
• Every individual needs some risk-free assured investments as
part of one's portfolio.
• Endowment plans, therefore, should be bought by
individuals, one, to protect and ensure their loved ones
financially; two, for goal-based savings; and three, to build a
corpus to fulfill an investment objective over a long period.
• Endowment plans offer a disciplined way of saving money for
future financial needs.
• The returns may be lower, but they are mostly risk free in case
of guaranteed sum assured. Tax benefits, subject to certain
conditions, are also available on these returns.