Bajaj Allianz Elite Assure - A Non-linked Endowment Plan

Bajaj Allianz Elite Assure

A Non-linked Endowment Plan

You wish to achieve success in everything that you cherish to do. Life is all about choices and choosing the right option. It's obvious that you plan your life as well as your finances to complement the best for all seasons. It is thus essential to have a balanced investment portfolio across all asset types, hence the option of life cover with an attractive return always stands tall.

Presenting Bajaj Allianz Elite Assure, a traditional savings plan that offers the most attractive return while protecting your family.

(Toll Free) 1800-209-0144
SMS LIFE @ 56070
Key Features

    Bajaj Allianz Elite Assure is a traditional participating regular and limited premium payment endowment plan. The key advantages of this plan are:

  • Perfect balance of life cover and great return on investment for you
  • Accrued Guaranteed Loyalty Additions of up to 315% of Guaranteed Maturity Benefit, depending on the premium payment term chosen
  • Choice of 4 policy terms 15, 20, 25 and 30 years
  • Option of regular and limited premium payment term
  • Option to enhance your coverage with rider benefits
How Does Your Plan Work

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

  • 1step

    Choose your
    Policy Term

  • 2step

    Choose your
    Premium Paying Term

  • 3step

    Choose your
    Premium Payment Frequency

  • 4step

    Choose your
    Guaranteed Maturity Benefit (GMB)

Your premium will be based on GMB, age, policy term, premium payment term and premium payment frequency. Your Sum Assured is 10 times of Annualised Premium

Am I Eligible?
  • Entry Age

    0 yearsMinimum

    55 yearsMaximum

  • Maturity Age

    18 yearsMinimum

    70 yearsMaximum

  • Policy Term

    15, 20, 25 and 30 years

  • Premium Paying Term

    7, 10 & equal to Policy Term

  • Premium

    As per the chosen Guaranteed Maturity Benefit

  • Sum Assured

    10 times of Annualized Premium

  • Guaranteed Maturity Benefit (GMB

    Rs. 5,00,000Minimum

    No LimitMaximum

  • Premium Payment Frequency

    Yearly, Half yearly, Quarterly and Monthly#

#The monthly mode will be allowed only under salary deduction scheme and ECS

Bajaj Allianz Elite Assure (UIN: 116N127V01)
For more details, please refer to the brochure.

Policy Benefits and Features
  • Maturity Benefit

    The Maturity Benefit is Guaranteed Maturity Benefit (GMB) plus Guaranteed Loyalty Additions (GLA) plus Vested Bonus (VB) plus Interim Bonus (IB), if any, plus Terminal Bonus (TB), if any. VB as declared, will be attached every policy year starting from your first policy year

    • GLA, as % of GMB, will be attached to the policy at the end of each policy year starting from the end of 10th policy year.
    • GLA, as % of GMB and the total GLA payable at maturity depends on the premium payment term and policy term chosen as shown in the table below:
  • Premium Payment Term
    (years)
    7 10 15 20 25 30
    Policy Term (years) 15 20 25 30 15 20 25 30 15 20 25 30
    Guaranteed Loyalty Additions 3% 3% 3% 3% 7% 7% 7% 7% 15% 15% 15% 15%
    Total Guaranteed Loyalty Additions 18% 33% 48% 63% 42% 77% 112% 147% 90% 165% 240% 315%
  • Additional Rider Benefit

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

  • 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
    3. Bajaj Allianz Family Income Benefit Rider UIN: 116B037V01
    4. 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

  • Surrender Benefit
    • You will have the option to surrender your policy anytime, provided at least 1 full year's premium has been paid if Premium payment term is less than 10 years or at least 2 full years' premiums have been paid, if premium payment term is 10 years or more
    • The surrender value shall be higher of:
    • Guaranteed Surrender Value (GSV) or
    • Special Surrender Value (SSV)
  • Death Benefit

    If all due premiums are paid, then, in case of unfortunate death

    of the life assured during the policy term, the Sum Assured on Death plus vested bonus, if any plus terminal bonus, if any, will be payable. The Sum Assured on Death is the higher of:

    1Sum Assured on Death is the higher of:

    • Guaranteed Maturity Benefit
    • Sum Assured

    * Total premium is exclusive of extra premium, rider premium, service tax & cess, if any.

  • Premium Rebate

    The investment insurance plan offers a Premium Rebate if your chosen GMB is greater than Rs. 5,00,000.

    The Premium Rebate is available for each complete additional GMB of Rs. 50,000 over & above the minimum GMB of Rs. 5,00,000 is as per the table below:

  • Premium Payment Term (in Years) 7 10 15 20 25 30
    Rebate (in Rs.) 90 76 67 72 77 81
  • Option to Change Premium Payment Frequency

    At any time, you can opt to alter your regular premium payment frequency to any other frequency (i.e. yearly, half-yearly, quarterly or monthly), so long as the existing and requested frequencies can be aligned and subject to minimum premium limits under the plan.

    The modal premium for frequencies other than annual mode is arrived at by multiplying the annual premium by the frequency factors, given below:

  • Premium frequency Monthly Quarterly Half yearly Yearly
    Frequency Factor 0.09 0.26 0.51 1.00
Sample illustration
  • Let's see an example

    Naresh aged 30 years has taken Bajaj Allianz Elite Assure and opted for a policy term and premium paying term of 25 years. He chose a GMB of Rs. 6,00,000, for which he would be paying a premium of Rs. 58,424 yearly. Sum Assured = 10 times of Annualised Premium* = Rs. 5,84,240

    *Annualized Premium is exclusive of extra premium, rider premium and service tax & cess, if any

    On maturity date, Naresh will receive the following Maturity Benefit:

    At investment return Guaranteed Maturity Benefit (GMB) Guaranteed Loyalty
    Additions (GLA)
    Vested Bonus (VB) Total
    Of 8% Rs. 6,00,000 Rs. 14,40,000 Rs. 15,56,274 Rs. 35,96,274
    Of 4% Rs. 6,00,000 Rs. 14,40,000 Rs. 20,40,000
      Sample Illustration Elite Assure
    • In case of unfortunate death of Naresh during the 17th policy year, the nominee will receive the Death Benefit as given below;
    At investment return Guaranteed Maturity Benefit (GMB) Guaranteed Loyalty
    Additions (GLA)
    Vested Bonus (VB) Total
    Of 8% Rs. 6,00,000 Rs. 7,20,000 Rs. 8,31,947 Rs. 21,51,947
    Of 4% Rs. 6,00,000 Rs. 7,20,000 Rs. 13,20,000
      Sample Illustration Elite Assure

    Note:

    Premium shown above is exclusive of Service Tax and any extra premium.
    Vested Bonus at the assumed investment return is not guaranteed and is for illustrative purpose only.

Frequently Asked Questions and Support
Insurance Can Help Your Money Grow!

When planning your finances, you take into account adequate health insurance, motor insurance, investments, and savings for a rainy day.

Read More
Is Your Life Insurance Enough for Your Family's Future?
Is Your Life Insurance Enough for Your Family's Future?

'Insurance on the Go' is taken to a new level with the launch of our new mobile app for Java, Symbian, Blackberry and Android mobiles!

Read More
Common Mistakes People Make When Purchasing Life Insurance

What are some common mistakes people make when purchasing life insurance? We tell you about them here, so that you can avoid these pitfalls

Read More
Choose Life Insurance the Smart Way!

Today, you have a wide variety of life insurance products to choose from.

Read More
 
For more details on the risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.
Our Customer's Review..
What are people saying?

Disclaimer: 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) under either Fully or Partially Blocked category, any call made or SMS 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.

Disclaimer: Insurance is the subject of the solicitation. For more details about risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. The terms and conditions of product/plan as contained in the Policy Document issued by the Company is available on the Web Site. Please note that the name of the Bajaj Allianz product/plan does not indicate the quality of the insurance contract and its future prospects or returns. Investment in ULIPs is subject to market risks associated with capital markets. IN ULIPs, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. Tax benefits are as per the prevailing Income Tax Laws including the Income Tax Act, 1961 and are subject to change from time to time. Service tax and education cess will have to be borne by the Policyholder as per applicable rates. All other charges shall be levied in accordance with the terms and conditions of the policy.

Super Agent

Tax Benefits

Premium paid are eligible for tax benefits under section 80C of the Income Tax Act and Maturity benefit,death benefit and Surrender value are eligible for tax benefits under Section 10(10D) of the Income Tax Act, subject to the provision stated therein.

Download Brochure Download Policy Document
For more information Click here
*Life Insurance Claims settled as FY 2016-17