Endowment Plan | Endowment Policy | Super Life Assure

Bajaj Allianz Life Super Life Assure

A Traditional Endowment Plan

Presenting Bajaj Allianz Life Super Life Assure, a plan that provides the twin benefit of comprehensive protection & compulsory savings for your targeted financial goals. It also offers an option to select a unique feature - Income Benefit which will help your family maintain their standard of living incase anything unfortunate happens to you. You can ensure a secured future for your loved ones with this plan.

(Toll Free) 1800-209-0144

SMS LIFE @ 56070

Key Features

    Bajaj Allianz Life Super Life Assure is a non-linked, participating, regular premium payment endowment plan. The key advantages of this plan are:

  • Helps in meeting key financial milestones with multiple policy term options
  • Choice of 2 plan variants: Super and Life - to secure your family's future
  • Income Benefit1 - provides monthly income incase of unfortunate death
  • Offer bonuses year on year to enhance your saving
  • Option to enhance your coverage with rider benefits
  • Special rates for female policyholders
  • 1Available with Super variant

How Does Your Plan Work

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

  • 1step

    Choose your plan variant: Super or Life

  • 2step

    Choose your Sum Assured

  • 3step

    Choose your
    Policy Term

  • 4step

    Choose your Premium Payment Frequency

Plan variant chosen at inception cannot be changed during the policy term.
Your premium will be based on Sum Assured, plan variant, gender, age, policy term and premium payment frequency.

Am I Eligible?

  • Entry Age

    Super - 18 years
    Life - 0 yearsMinimum

    Super - 50 years
    Life - 55 years Maximum

  • Maturity Age

    Super - 30 years
    Life - 18 years Minimum

    70 years
     
    Maximum

  • Policy Term

    12 to 20 years

    • Premium Paying Term

      Equal to Policy Term chosen

    • Minimum Premium

      Variant Yearly Half-Yearly Quarterly Monthly
      Super Rs. 5,328 Rs. 2,717 Rs. 1,385 Rs. 480
      Life Rs. 5,201 Rs. 2,652 Rs. 1,352 Rs. 468
      Premium for female life will be based on the premium rate of 3 years younger male
      Maximum Premium - As per the Sum Assured
    • Sum Assured

      Rs. 1,00,000Minimum

      No Limit, subject to underwriting Maximum

    • 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 Life Super Life Assure (UIN:116N134V01)

    For more details, please refer to the Brochure and Policy Document

    Policy Benefits
    • Maturity Benefit

      • Sum Assured plus Vested Bonus plus Terminal Bonus, if any, if you have paid all due premiums under your policy. The minimum guaranteed maturity benefit is 100.1% of total* premiums paid.
      • The maturity benefit will be same for both the variants.
      • *Total premium is exclusive of extra premium, rider premium and service tax & education cess, if any

    • Death Benefit

        If all due premiums are paid, then in case of unfortunate death of the Life Assured during the policy term, the death benefit will be:

      • If Life variant is opted, higher of:
        • Sum Assured on Death# plus Vested Bonus plus Terminal Bonus, if any, or
        • 105% of the total premiums* paid
      • If Super variant is opted, higher of:
        • Sum Assured on Death# plus Vested Bonus plus Terminal Bonus, if any, or
        • 105% of the total premiums* paid
      • Income Benefit: The nominee would get an additional 100% of Sum Assured as Income Benefit, payable in 120 monthly installments, over the next 10 years starting from the date of settlement of the death benefit. The amount of monthly installment is equal to Sum Assured/120
      • The risk cover under the policy will cease on the date of death.

        #Sum Assured on Death is higher of Sum Assured or 10 times of Annualized Premium*

        *Annualized Premium and total premium is exclusive of extra premium, rider premium, service tax & cess, if any

    • Additional Rider Benefit

        You have an option to get comprehensive protection by choosing the optional additional rider benefit, Bajaj Allianz Waiver of Premium Benefit Rider (UIN: 116B031V01) at a nominal extra cost.

    Policy Features
    • Surrender

      • 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).
      • Surrendered policy will not be eligible for terminal bonus.
    • High Sum Assured Rebate(HSAR)

      The plan offers a premium discount structure, where you can have a discount of Rs. 25 for each complete additional Rs. 10,000 Sum Assured purchased over and above the minimum Sum Assured of Rs. 2,00,000.

    • Policy Loan

      You can avail loan under your policy provided it has acquired a surrender value. The loan amount shall be up to 90% of the Surrender Value available under the policy as on the date of loan.

    Sample illustration
    • Nitin aged 30 years has taken Bajaj Allianz Life Super Life Assure (Super variant) and opted for a Policy Term of 20 years. The Sum Assured chosen by him is Rs. 3,00,000 for which he is paying a premium of Rs. 16,136 p.a.

      • On maturity date, Nitin will receive the following Maturity Benefit:
      • At investment return Sum Assured (A) Vested Bonus (B) Maturity Benefit (A+B)
        Of 8% Rs. 3,00,000 Rs. 2,31,409 Rs. 5,31,409
        Of 4% Rs. 3,00,000 Rs. 77,085 Rs. 3,77,085

        In case of unfortunate death of Nitin at the end of the 10th policy year, the nominee will receive the Death Benefit as given below:

      • Death Benefit payable immediately
      • At investment return Sum Assured on Death (A) Vested Bonus (B) Death Benefit payable immediately (A+B)
        Of 8% Rs. 3,00,000 Rs. 99,278 Rs. 3,99,278
        Of 4% Rs. 3,00,000 Rs. 36,341 Rs. 3,36,341


      • Death Benefit payable as Income Benefit: Rs. 2,500 will be paid every month for 120 months.
      • Super Life Assure illustration

        Premium shown above is for "Super" variant and is exclusive of Service Tax and any extra premium.

        Vested Bonus at 8% & 4% is not guaranteed and is for illustrative purpose only.

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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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    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.

    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.

    Super Agent

    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.

    Brochure

    10 pages - 4.29 Mb

    Document

    12 pages - 143 Kb

    For more information Click here
    *Life Insurance Claims settled as FY 2016-17