Bajaj Allianz Life Saral Jeevan Bima

A Non Linked, Non-Participating, Individual Pure risk premium Life Insurance Plan

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Life Cover
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Life cover up to a term of 40 years
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High Sum Assured Rebate*
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Female Life Rebate##
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  • Overview

  • Key Advantages

  • How this works

  • Eligibility

  • Downloads

  • Sample Illustration

  • Policy Benefits

When it comes to shielding your financial and life goals from future uncertainties, a simple plan is a good way to approach it. That is why when it is about protecting your family and their future, pure life cover is what you need.

Bajaj Allianz Life Saral Jeevan Bima, a non linked, non-participating, individual pure risk premium life insurance plan, is such an offering. This term policy offers up to Rs 25 lakh life cover for a maximum period of 40 years so that you can live your life without a thought about the financial safety of your family after you.

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Life Cover:

The term insurance plan offers life cover to protect your family in case of an unfortunate event of your death.

Multiple Premium Paying Terms:

The term plan offers single, limited (5 and 10 years) and regular premium paying terms to help you opt for an option in line with your particular needs.

Life Cover up to a term of 40 years

The term plan offers life cover for up to 40 years

Multiple Premium Paying Frequencies:

One can pay Single premium or Regular/Limited premiums on a monthly, half-yearly, or on yearly basis.

High Sum Assured Rebate:

The term insurance plan offers a rebate in premium for every additional Rs 1 lakh increase in Sum Assured above Rs 5 Lakhs.

Female Life Rebate:

The premium rate applicable to female life is based on the premium rate of 3 years younger male.

Tax Benefits:

The benefits under the term plan are eligible for tax benefits as per extant Income Tax Act, 1961, subject to the provision stated within.

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Choose your Sum Assured

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Choose your Policy Term

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Choose your Premium Payment Term

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Choose your Mode of Premium payment

Your premium will be based on your age, gender, and the above details.

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Entry Age

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Minimum age is 18 years

Maximum age is 65 years

For Policies sourced through POS channel, the minimum and maximum entry age will be as per the POS Guidelines as amended from time to time.

Maturity Age

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Maximum Maturity Age

70 years

For Policies sourced through POS channel, the maximum maturity age will be as per the POS Guidelines as amended from time to time.

Sum Assured

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Minimum Sum Assured

5 lakhs

Maximum Sum Assured

25 lakhs

Policy Term

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Minimum Policy Term

5 years

Maximum Policy Term

40 years

Premium Payment options

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- Single Premium

- Limited Premium for 5 years or 10 years

- Regular Premium

Premium Payment Modes

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Single/Yearly/Half yearly, Monthly

Monthly is available only under ECS/NACH

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Brochure

Download

Policy Document

<h3>Download</h3>

Product Presentation

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Life Assured’s age at entry

Policy term

Premium Paying Term

Sum Assured

Annualized Premium

30 years/male

30 years

30 years

25 lakh

Rs. 8,321

35 years/male

30 years

30 years

25 lakh

Rs. 11,848

40 years/male

30 years

30 years

25 lakh

Rs. 17,525

Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws and any extra premium.

The plan can be purchased directly from the company’s website also at the applicable premium rates.

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Death Benefit

"This Policy will cover death due to accident only during the waiting period of 45 days from the date of commencement of risk. In case of death of the Life Assured other than due to accident during the waiting period, an amount equal to 100% of all premiums2 received excluding taxes4, if any, shall be paid and the Sum Assured shall not be paid."

On death of the Life Assured, provided the policy is in force, the death benefit payable to the nominee would be as follows:

Premium payment type

Death benefit

Limited premium/Regular premium

Death benefit equal to Sum Assured on death which is the highest of:

  • 10 times the Annualized premium1, or
  • 105% of all premiums2 paid as on date of death, or
  • Absolute amount assured to be paid on death3
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Single premium

Death benefit equal to Sum Assured on death which is the higher of:

  • 125% of Single premium2, or
  • Absolute amount assured to be paid on death3
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The death benefit mentioned above would be payable as a lump sum and would be applicable in case of:

  • - Accidental Death of the Life Assured during the Waiting period; or
  • - Death of the Life Assured due to any reason after expiry of the Waiting period

Note:

1Annualized Premium is the total amount of premium payable in a policy year excluding taxes4 , rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

2Premium(s) shall not include any extra amount chargeable under the policy due to underwriting decision and rider premium(s), if any. This doesn’t include taxes4 which are payable separately.

3Absolute amount assured to be paid on death shall be an amount equal to Basic Sum Assured.

4Tax(es) refers to GST/any other applicable tax levied, subject to changes in tax laws.

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Maturity Benefit

No maturity benefit is payable under this policy.

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Why Bajaj Allianz Life Insurance ?

99.23%
Claim Settlement Ratio~
1 Day
Claim Approval%
AAA
CARE Stable Rating$
₹1,09,829Cr
Assets Under Management (AUM)**
4.19 Cr
Number of Lives Covered#
432%
Solvency Ratio^

Disclaimer:~Individual Death Claim Settlement Ratio for FY 2023-2024, %96.70% of non-investigative individual claims approved in one working day for FY 2023-24. 1 day is counted from date of intimation of claim before 3 PM on a working day (excluding Non-NAV days for ULIP) at Bajaj Allianz Life offices, $For details refer to press release published by CARE**All figures as on 31 January, 2024, ^Solvency ratio 432% as at 31 March 2024 against IRDAI mandated 150%, #Individual Group.1 Source: Bajaj Allianz Life Public Disclosure

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Disclaimers:
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*HSAR – High Sum Assured Rebate is subject to policy terms and conditions

##Premium rate applicable to female life will be based on the premium rate of 3 years younger male  

*As on 31st March, 2024

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Terms & Conditions

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) or on National Do Not Call Registry (NDNC), any call made, SMS or WhatsApp 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

 

Please refer to BALIC Privacy Policy

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Terms & Conditions

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) or on National Do Not Call Registry (NDNC), any call made, SMS or WhatsApp 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

 

Please refer to BALIC Privacy Policy

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