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Bajaj Allianz Lifelong Assure Watch Video A Non-linked Whole Life Plan

  • Guaranteed cash back till you turn 99 years#

  • Cash bonus starting from the end of 6th policy year
  • Whole life policy
  • Death benefit of up to 300% of sum assured
Life Long Assure, a non-linked whole life plan
Download Brochure 9 pages - 499 KB
Download Policy Document 9 pages - 499 KB
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  • Overview
  • Key Advantage
  • How this works
  • Eligibility
  • Downloads
  • Sample Illustration
  • Policy Benefits
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Bajaj Allianz Lifelong Assure -Child Investment and Saving Plan

In this digital age your child’s platform to find their life goals and aspirations has expanded manifold. Your child’s strongest motivation to find and make their own dreams come alive is your unconditional support. Let the challenges of any financial stress not hamper this journey as your children pursue their life goals. An intelligent financial plan would not substitute your unconditional love, but it can become a very strong stepping stone for your child’s life goals. 

Bajaj Allianz Lifelong Assure, a whole life insurance plan, is designed to offer the financial support to you as your child moves ahead in his/her life goals journey. This child plan provides income and life cover till you turn 100 years along with cash bonus, if any, starting from end of the 6th policy year, along with guaranteed cash back from the end of your premium payment term (PPT). Your child’s life goals will receive the financial support, even after your death, as this plan offers guaranteed death benefit of up to 300% of sum assured depending on the PPT chosen.

Guaranteed cash back

Guaranteed cash back of 3% of the sum assured will be given every year, after the end of the premium payment term till the age of 99 years.

Cash bonus starting from the end of 6 years

Receive cash bonus, if any, starting from the end of 6th policy year till the age of 99 years.

Whole life policy

Life cover available up to the age of 100 years and guaranteed cash back and cash bonus offered till you turn 99 years of age.

Limited premium paying term

A limited premium payment insurance plan with three premium paying terms – 10, 15 and 20 years.

Guaranteed death benefit of up to 300% of sum assured

Depending upon the premium payment term you choose, the death benefit could be as high as 300% of the sum assured.

Policy benefits in monthly instalments

The life assured or the nominee can choose to receive the death or maturity benefits in equal monthly instalments over a period of 5 or 10 years.

Multiple rider options

Increase your cover by choosing one or more optional riders among the five available under the policy at a nominal extra cost.

High sum assured rebate

Depending on your age and premium payment term, you can get rebates up to ` 19 per ` 1,000 sum assured over and above the minimum sum assured of ` 1 lakh.

You can customize your policy to suit your requirement in the following manner:

Choose your Sum Assured

Choose your Premium Payment Term (PPT)

(Your premium will be based on your current age, Sum Assured, PPT & premium payment frequency.)

Entry Age

Minimum age is 10 years

Maximum age is 55 years

Policy Term

100 minus Age At Entry

Premium Paying Term

10, 15 and 20 years .

Premium

Minimum Premium

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

Maximum Premium

No limit

Sum Assured

Minimum Sum Assured is ` 1,00,000

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. 

Ravi , 30 years old

He has taken a Bajaj Allianz Lifelong Assure policy for a premium paying term of 20 years. The Sum Assured chosen by him is ` 5,00,000 for which he is paying an annual premium of ` 51,805 after a high sum assured rebate of ` 4000.

  • Maturity Benefit
  • Death Benefit

Ravi receives 300% of Sum Assured on maturity

Policy Term: 70 Years

  • Life Long Assure

Premium shown above is exclusive of Goods and Service Tax and any extra premium and is for illustrative purpose only.

For female lives 3 year age set back is applicable in premium calculation. For substandard and smokers extra premium shall be charged as per board approved underwriting norms.

Cash bonus mentioned above is not guaranteed and will be based on actual experience.

The sum assured amount and/or other benefit amount indicated, if any, is a non-guaranteed illustrative figure and is subject to policy terms and conditions.

Incase of unfortunate death at age 65 years, the death benefit based on the assumed investment return, are as given in the below table:

  • Life Long Assure

Benefit payable in case of death of Life Assured at age 65 years

Assumed Investment Return @8% p.a.^^

Assumed Investment Return @4% p.a.^^

Total Premium Paid

` 10,36,100*

` 10,36,100*

Total Non-Guaranteed Cash Bonus Paid

` 8,70,000

` 1,08,750

Total Guaranteed Cash Back

` 2,25,000

` 2,25,000

Death Benefit

` 15,00,000

` 15,00,000

Total Benefit Received

` 25,95,000

` 18,33,750

*Premium shown above is exclusive of Goods and Service Tax and any extra premium and is for illustrative purpose only.

For female lives 3 year age set back is applicable in premium calculation. For substandard and smokers extra premium shall be charged as per board approved underwriting norms.

Cash bonus mentioned above is not guaranteed and will be based on actual experience.

^^The returns indicated at 4% and 8% are illustrative and not guaranteed and do not indicate the upper or lower limits of returns under the policy.

The sum assured amount and/or other benefit amount indicated, if any, is a non-guaranteed illustrative figure and is subject to policy terms and conditions.

Survival Benefit

  • You will start receiving Guaranteed Cash Back of 3% of your Sum Assured every year, from the end of your premium payment term till the age of 99 years

  • You will be entitled for Cash Bonus declared, if any, starting from the end of 6th policy year till the age of 99 years

Maturity Benefit

Your policy will mature at the age of 100 years. On the maturity date, if all premiums are paid, the Maturity Value under your policy, as mentioned in the below table, will be paid and the policy will terminate.

PPT

Sum Assured on Maturity

10 years

200% of Sum Assured

15 years

250% of Sum Assured

20 years

300% of Sum Assured

In addition, terminal bonus, if any, will be paid

Death Benefit

In case of unfortunate death of the life assured during the policy term, provided all the due premiums have been paid under the policy, the death benefit payable to the nominee shall be as follows

a. For age at entry less than 45 years, higher of

  • 10 times annualised premium*

  • 105% of total premium* paid till date of death

  • 200%, 250% or 300% of sum assured depending on the PPT chosen.

b. For age at entry 45 years & above, higher of

  • 7 times annualised premium*

  • 105% of total premium* paid till date of death

  • 200%, 250% or 300% of sum assured depending on the PPT chosen.

In addition, interim cash bonus & terminal bonus, if any, will be paid.

* Annualized Premium and total premium is exclusive of extra premium, rider premium, Goods and Service Tax

Additional Rider Benefits

You can enjoy extra coverage by choosing the optional additional rider benefits at a nominal extra cost. The riders available with Bajaj Allianz Lifelong Assure are:

Sr. no

Rider

UIN

1

Bajaj Allianz Accidental Death Benefit Rider

UIN: 116B034V01

2

Bajaj Allianz Accidental Permanent Total/ Partial Disability Benefit Rider

UIN: 116B036V01

3

Bajaj Allianz Critical Illness Benefit Rider

UIN: 116B035V01

4

Bajaj Allianz Family Income Benefit Rider

UIN: 116B037V01

5

Bajaj Allianz Waiver of Premium Benefit Rider

UIN: 116B031V01

Please refer to respective rider sales literature or visit Company website or consult your “Insurance Consultant” for more details and eligibility conditions.

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What is the maturity benefit in Lifelong Assure?

Lifelong Assure matures when the policyholder turns 100 years. The maturity value depends on the premium paying term opted. If the premium payment term is 10 years, you get 200% of the Sum Assured; if it is 15 years, the maturity value is 250% of the Sum Assured and if it is 20 years, the maturity value is 300% of Sum Assured, if all premiums are paid. The Maturity Benefit will also include terminal bonus, if any. 

What happens if I am unable to pay the premiums?

Sometimes the policyholder may not be able to pay premiums because of various circumstances. In such a case if the premiums have not been paid for the first three years then your policy will lapse at the end of the grace period.

However, if you have paid all the premiums of the first three years, then your policy is converted to a paid-up policy with a reduced Sum Assured. The maturity or death benefit will be calculated as per the reduced Sum Assured, in case the policy is discontinued after three years. If you have paid at least five years’ premiums then Guaranteed Cash Back and Cash Bonus (if any) are paid based on reduced Sum Assured.

Also, do keep in mind that you have the option to revive the lapsed/paid-up policy during the revival period of two years from the start of first unpaid premium, subject to the revival conditions. 

Is it possible to take a loan under Lifelong Assure?

Yes, the policyholder can avail loan under this plan provided the policy has acquired Surrender Value. The policyholder can take loan of maximum amount of 80% of the Surrender Value of the policy.

What is the survival benefit in this plan?

Lifelong Assure comes with attractive survival benefits. You get the benefit of Guaranteed Cash Back of 3% of the Sum Assured from the end of the Premium Payment Term till the end of the year in which the Life Assured turns 99 years. This benefit provides regular source of income through cash backs to enable you to meet your regular expenses.

Besides, the survival benefit of Lifelong Assure also includes cash bonus if declared by the company, which is paid at the end of each policy year from the end of the sixth policy year till life assured turns 99 years.

Life Insurance Glossary

Annualized Premium

“Annualised Premium” means the total amount of Regular Premiums payable in a Policy Year, after due consideration of applicable premium factors for various Premium Payment Frequency. In this calculation, any extra premium, Rider Premium or applicable taxes are excluded.

Grace Period

“Grace Period” means a period of fifteen (15) days for a monthly Premium Payment Frequency and thirty (30) days for other than monthly Premium Payment Frequency, from the due date of the Regular Premium payment.

Life Assured

“Claimant” means the Life Assured (if alive) or Policyholder (if different from the Life Assured) or the assignee or the Nominee or the legal heirs of Policyholder/Nominee(s) to whom the Policy Benefit will be payable.

Maturity Date

“Maturity Date” means the date specified in the Schedule on which the Maturity Benefit as per policy document shall become payable to the Policyholder

Nominee

“Nominee” means the person who has been nominated in writing to the Company by the Policyholder, who is entitled to receive the Death Benefits under the Policy as mentioned in Policy Document

Paid up Sum Assured on Death

“Paid-up Sum Assured on Death” is the reduced value of the Sum Assured on Death arrived at by multiplying the Sum Assured on Death with the proportion of the number of Regular Premiums paid to the total number of Regular Premiums payable under the Policy.

Paid up Sum Assured on Maturity

If the Regular Premiums due for first three (3) Policy Years are paid and subsequent Regular Premiums are not paid, the Policy will, immediately and automatically, be converted to a paid-up Policy on the expiry of the Grace Period as per the conditions stated in the policy document.

Paid up Sum Assured

“Paid-up Sum Assured” is the reduced value of the Sum Assured arrived at by multiplying the Sum Assured with the proportion of the number of Regular Premiums paid to the total number of Regular Premiums payable under the Policy

Policyholder

“Policyholder” means the adult person named in the Schedule who has concluded the Policy with the Company

Rider Benefit

“Rider Benefit” means the benefit payable under the Rider on the happening of the contingent event covered under the Rider. For more details, refer to the Policy Document

Rider Life Assured

“Rider Life Assured” means the person named as the Rider Life Assured in the Schedule whose life is assured under this Rider

Rider Premium

“Rider Premium” means the amount exclusive of applicable taxes, if any, payable by the Policyholder at regular intervals during the Rider Premium Paying Term, in amount (along with and as part of the Regular Premium) and at the Premium Payment Frequency.

Rider Premium Paying Term

“Rider Premium Paying Term” means the period specified in the Schedule during which the Rider Premium is payable.

Rider Term

"Rider Term” means the period between the Date of Commencement of Rider and the Rider Maturity Date, as mentioned in the Schedule

Sum Assured

“Sum Assured” is the amount as specified in the Schedule under the Policy.

Surrender Benefit

“Surrender Benefit” means the benefit, if any, payable on the surrender of the Policy. For more details refer to the Policy Document

Vested Bonus

“Vested Bonus” is the amount of compound reversionary bonus already attached with the Policy, based on the rates of compound reversionary bonus declared by the Company in the past for this plan at the end of each Financial Year

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  • Claim deposits via electronic transfer to make process faster
  • Solvency ratio of 767% **
  • Our Priority is not to sell Life Insurance, it is to serve you in the fastest & most convenient manner when you need us.

**All figures as on 31 December, 2018.

"What are your life goals?" is one of the most common questions that comes to one's mind while taking any step further in Life. Most just answer it by laughing it off or saying we will think about it.

A key reason that they feel this way is that they haven't spent enough time thinking about what they want from their life, and haven't set themselves any goals.

Goals keep changing as per different life stages and one has to plan meticulously for their future.

Deciding your Life Goal is all about planning to "Live your life, your way". There could be various Life Goals such as trotting the globe, becoming a food blogger to starting your own business, owning your dream house, or planning your Childs education or marriage.

L"IF"E is full of IF's... and one needs to plan to secure their loved ones and themselves against the Ifs of Life. When you opt for a life insurance plan, you transfer your family's financial risks in case of any unfortunate event to the life insurer. This allows you and your loved ones to live life fearlessly. Life Insurance protects your family's financial wellbeing from the consequences of living without an income.

When you purchase a life insurance policy, one of your major life goal gets fulfilled i.e. you purchase a sense of security. A safety net that cushions your family members from the financial impact of your sudden absence and ensures that any outstanding debts that were incurred during your lifetime don't fall upon your loved ones.

Having life goals is an important aspect in each one's life. One needs to be SMART and plan out well in advance to ensure nothing goes wrong in the future. Life insurance offers a range of products that could come in handy for meeting your financial goals.

To ensure that it is not too late, get your #LifeGoals insured with us today! It will help you smile in the face of tomorrow's uncertainties and let you live a worry free life!

#Paid every year from the end of your premium payment term at the rate of 3% of the sum assured