Endowment Plan | Endowment Policy | Save Assure

Bajaj Allianz Save Assure

Traditional Endowment Plan

We always feel good to get more than what we expect, and even more when it's "guaranteed"*. Presenting "Bajaj Allianz Save Assure" - a traditional endowment plan that not only secures you and your family but also guarantees 115% of your sum assured. Living worry free is now guaranteed.*

(Toll Free) 1800-209-0144

SMS LIFE @ 56070

Key Features

    Bajaj Allianz Save Assure is a Limited Premium Payment, Non-Participating, Non Linked, Individual Endowment Plan. The key features are:

  • Guaranteed maturity/death benefit of 115% of the sum assured*
  • Choice of 2 policy terms, 15 and 17 years.
  • Premium Payment Term of 10 and 12 years.
  • Option to take policy benefit in monthly installments over a period of 5 or 10 years.
  • More value for money with high Sum Assured rebate on premium.
  • Option to enhance your coverage with rider benefits
  • * you will receive 115% of your sum assured as maturity/death benefit, provided all due premiums have been paid.

How Does Your Plan Work

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

  • 1step

    Choose your
    Sum Assured

  • 2step

    Choose your
    Policy Term

Your premium will be based on your current age, sum assured and policy term

Save Assure

Am I Eligible?

  • Entry Age

    1Minimum

    60Maximum

  • Maturity Age

    18Minimum

    75Maximum

  • Policy Term

    15 - 17 Years

  • Premium Paying Term

    Policy term selected less than 5 years

  • Minimum Premium
    Frequency Yearly Half-Yearly Quarterly Monthly*
    Policy Term 15 Rs. 8,140 Rs. 5,000 Rs. 2,500 Rs. 1,000
    Policy Term 17 Rs. 6,620 Rs. 4,200 Rs. 2,100 Rs. 800
    Maximum Premium - No Limit
  • Sum Assured

    Rs. 1,00,000Minimum

    No LimitMaximum

  • Premium Payment Frequency

    Yearly, Half Yearly, Quarterly and Monthly**

**Monthly premium payment frequency will be available under salary deduction scheme & ECS.

Policy Benefits and Features

  • Maturity Benefit

    On the maturity date 115% of the sum assured chosen will be paid as maturity benefit, provided all due premiums have been paid.

  • Surrender Benefit

    You will have the option to surrender your policy provided at least 3 full years' premiums have been paid.

    The surrender value shall be higher of the Guaranteed Surrender Value(GSV) and the Special Surrender Value(SSV) will be payable at any time of surrenderthroughout the term of the policy.

  • 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 as mentioned below will be payable as death benefit to the nominee :

  • Entry Age Sum Assured on Death will be higher of
    Less than 45 10 times annualised premium*** 105% of total premium*** paid 115% of sum assured
    Equal to or greater than 45 7 times annualised premium*** 105% of total premium*** paid 115% of sum assured

    *** Annualised premium and total premium taken are excluding any extra premium and/or any service tax and cess on premium.

  • 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 Save 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
  • Loan

    You can avail loan under your policy, provided at least three(3) full years' premiums have been paid. The loan amount shall be up to 90% of the surrender value.

Sample illustration

  • Ravi aged 30 years has taken a Bajaj Allianz Save Assure policy for a Policy Term of 17 years. The Sum Assured chosen by him is Rs.5,00,000.

    • He is paying a premium of Rs.30,605 yearly for premium paying term of 12 years. On maturity date, Ravi will receive 115% of Rs.5,00,000 (the Sum Assured chosen), i.e., Rs.5,75,000
    • Sample Illustration Save Assure
    • In case of unfortunate death of Ravi in the 7th policy year, his nominee will receive 115% of Rs.5,00,000 (the Sum Assured chosen), i.e., Rs.5,75,000.
    • Sample Illustration Save Assure

      * Premium shown above is exclusive of Service Tax and any extra premium.

What happens if I am unable to pay my premium?

    • If you have not paid 3 years'premium in full, then, your policy will immidiately lapse at the expiry of the grace period
    • if you have paid at least 3 years' premium in full and stopped paying subsequent premiums, then, your policy will be converted to paid up policy, in which the Sum Assured will reduce to the Reduced Sum Assured and the Sum Assured on Death will reduce to the reduced Sum Assured on Death. On maturity, 115% of Reduced Sum Assured or, on the death of the life assured, reduced on Death will be paid and the policy will terminate.
    • You may revive your lapsed/paid-up policy during the revival period of 2 years from the due date of first unpaid premium, subject to the revival conditions under the plan.

    • Bajaj Allianz Save Assure (UIN: 116N118V01)
      For more details, please refer to the brochure and Policy Document

Frequently Asked Questions and Support

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For more details on the risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.

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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
9 pages - 785 Kb
Download Policy Document
8 pages - 115 Kb

Claim-Assistance

For more information Click here

*Life Insurance Claims settled as FY 2015-16

High Sum Assured Rebate (HSAR)

The plan offers an attractive premium discount structure, where you can have a discount of Rs.7 for each complete additional Rs.1,000 sum assured purchased over and above the Sum Assured of Rs.1,00,000 subject to a maximum amount of HSAR of Rs.70,000.

Structure of Your Maturity Benefit

To know more about structuring your maturity benefit, click here

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.

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.

The returns as indicated in the Sales Illustration are only illustrative and they are not guaranteed. The illustrative returns do not indicate the upper or lower limits of the return that you may get with your policy and the value is dependent on a number of factors including future performance.

The results displayed in the calculators are based on certain assumptions about the rates of return. Kindly note that the returns are only illustrative and they are not guaranteed. The returns do not indicate the upper or lower limits of the return that you may get with your policy and the value is dependent on a number of factors including future performance.