- Money backs at regular intervals
- 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
- More value for money with high sum assured rebate
- Special rates for female policyholders
Bajaj Allianz Cash Assure is a non-linked, participating individual limited premium money back plan. The key advantages of this plan are:
How Does Your Plan Work
You can customize your policy to suit your requirement in the following manner:
Premium Payment Frequency
Your premium will be based on Sum Assured, gender, age, policy term and premium payment frequency. The Policy Term chosen will determine your money backs and the intervals for receiving those money backs.
Am I Eligible?
16, 20, 24 and 28 years
Premium Paying Term
Policy Term minus 5 years
Minimum Premium Policy Term Yearly Half-yearly Quarterly Monthly 16 years Rs. 9,000 Rs. 5,000 Rs. 3,000 Rs. 900 20 years Rs. 8,000 Rs. 4,500 Rs. 2,500 Rs. 800 24 years Rs. 7,000 Rs. 4,000 Rs. 2,300 Rs. 700 28 years Rs. 6,500 Rs. 3,500 Rs. 2,000 Rs. 650 Premium for female life will be based on the premium rate of 3 years younger male
Subject to underwritingMaximum
Premium Payment Frequency
Yearly, Half Yearly, Quarterly and Monthly**
**The monthly mode will be allowed only under the salary deduction scheme and ECS
Bajaj Allianz Cash Assure (UIN:116N131V01)
Policy Benefits and Features
Survival & Maturity Benefit
If you have paid all due premiums under your policy, you will receive the Survival Benefit as Money Backs on each due date and the Maturity Benefit on the maturity date.
Money Backs are paid to you at the end of the policy years as mentioned in the below table:
The Maturity Benefit will be paid on the maturity date (end of the policy term)
Your Survival Benefit and Maturity Benefit are payable as mentioned in the table below:
You will have the option to surrender your policy anytime, provided at least 3 full years' premiums have been paid.
The surrender value shall be higher of:
- Guaranteed Surrender Value (GSV) and
- Special Surrender Value (SSV)
High Sum Assured Rebate(HSAR)
The plan offers a premium discount structure, where you can have a discount of Rs. 4.50 for each complete additional Rs. 1,000 Sum Assured purchased over and above the minimum Sum Assured of Rs. 1,00,000.
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 Interim Bonus, if any, plus Terminal Bonus, if any, subject to a minimum of 105% of the total premiums# paid will be paid as the Death Benefit.
This death benefit will be paid even after Survival Benefit has commenced during the policy term.
*Sum Assured on Death is the higher of: (a) 10 times of annualised premium# OR (b) Sum Assured
#Annualized Premium and total premium is exclusive of extra premium, rider premium, service tax & cess, if any
The policy will terminate on the date the Company is informed of the death of the life assured.
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 Cash Assure are:
|Money Back||PT 16 years||PT 20 years||PT 24 years||PT 28 years|
|Policy Term||16 years||20 years||24 years||28 years|
|Money Back (%)||15% of Sum Assured||20% of Sum Assured||25% of Sum Assured||30% of Sum Assured|
|Maturity Benefit||60% of Sum Assured + Vested Bonus, if any + Terminal Bonus, if any|
|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|
Ashish aged 30 years has taken Bajaj Allianz Cash Assure policy and opted for a Policy Term of 28 years. The Sum Assured chosen by him is Rs. 4,00,000 for which he is paying a premium of Rs. 25,186 p.a.
- Ashish will receive 3 Money Back instalments of Rs. 1,20,000 during the policy term
- These Money Back instalments will be payable to him starting from the end of every 7th policy year
- On maturity, 60% of the Sum Assured + Vested Bonus (VB), if any is payable. He will receive Rs. 5,85,818 at investment return of 8% or Rs. 2,99,949 at investment return of 4% as Maturity Benefit.
- In case of unfortunate death of Ashish during the 15th policy year, the nominee will receive Rs. 5,58,483 at investment return of 8% or Rs. 4,31,073 at investment return of 4% as Death Benefit and the policy will terminate.
Premium shown above is exclusive of Service Tax and any extra premium.
The percentages (%) of Sum Assured as Money Backs and on Maturity are guaranteed. Vested Bonus at 8% & 4% is not guaranteed and is for illustrative purpose only.
Frequently Asked Questions and Support
'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
What are some common mistakes people make when purchasing life insurance? We tell you about them here, so that you can avoid these pitfallsRead More