- 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
Bajaj Allianz Save Assure is a Limited Premium Payment, Non-Participating, Non Linked, Individual Endowment Plan. The key features are:
* 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:
Your premium will be based on your current age, sum assured and policy term
Am I Eligible?
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
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
On the maturity date 115% of the sum assured chosen will be paid as maturity benefit, provided all due premiums have been paid.
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.
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 :
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:
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.
|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.
|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|
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
- 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.
* 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.
Frequently Asked Questions and Support
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