assuring cash benefits
A Traditional Money-Back Plan
All your life, you strive to provide "The Best" to your loved ones & work towards ensuring that they accomplish their dreams & aspirations. For providing them happiness and additional wealth at every stage of life, Bajaj Allianz Life insurance presents 'Bajaj Allianz Cash Assure', a traditional money back plan which provides protection & compulsory savings. It provides lump sum payouts at regular intervals to meet your interim financial requirements and provide the best to your family.
Bajaj Allianz Cash Assure is a non-linked, participating individual limited premium money back plan. The key advantages of this plan are:
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.
16, 20, 24 and 28 years
Premium Paying Term
Policy Term minus 5 years
|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)
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:
|Money Back||PT 16 years||PT 20 years||PT 24 years||PT 28 years|
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:
|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|
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:
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:
|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.
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.
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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.
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.