Claim Settlement Ratio of 99.23%~

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Bajaj Allianz Life ACE

A Non linked, Participating, Individual Life Insurance Savings Plan

Choice of Income:

  • Choose to receive income from first month or after a fixed period
  • Decide your income amount based on your need
  • Choose if you want income for a limited term or up to 100 years of age
  • Decide if you prefer a level income or an increasing income
  • Protection: Protect your loved ones with a life cover throughout the policy term, up to 100 years
    Premium Payment Term: Choice of paying premiums for 5 to 10 and 12 years
    Tax benefits*: On premiums paid and benefits received as per prevailing tax laws
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    • Overview
    • Key Advantages
    • How this works
    • Eligibility
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    • Policy Benefits

    Protecting and saving for your tomorrow is one of those aspects where you would like your plan to be suitable for you and your family’s needs. How amazing would it be if we could create our own financial plan – where you could design it yourself!

    Keeping this in mind, Bajaj Allianz Life Insurance Company is proud to present Bajaj Allianz Life ACE, a truly modular product where you are the one in charge of your financial plan. The product offers a life cover to secure your family financially in case you are not around, choice of income as you would want or a lump sum to meet your life goals.

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    Policy Term preference

    Wide range of policy term option right from 10 years upto whole of life

    Plan your income start year$

    Option to plan income start year by postponing income start year upto 5 years

    Decide your Income

    choose your income amount, income start year, income period and Income preference- level or increasing or both

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    choose how you want to receive the proceeds of your policy by selecting one or more options
    choose the premium that you wish to save every year
    choose how long you want to pay, when you want to start the benefits and for how long you want them.
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    Entry Age

    Minimum Age at Entry:

    0 Years

    Maximum Age at Entry

    60 Years

    All ages mentioned above are age as on last birthday.

    Risk cover (including for minor lives) will commence immediately on the date of commencement of risk in the policy. In the case of a minor life, the policy will vest on the life assured on the earlier of attainment of age 18 years age or maturity date.

    For female lives, 2% markup will be available on Benefit Sum Assured.

    Income Period will commence after the end of Deferment Period.

    Maturity Age

    Maximum age at maturity

    Up to 100 Years

    Premium Payment Term (PPT), Income Period (IP), Deferment Period (DP) and Policy Term (PT)

    Plan Benefits Premium Payment Term (PPT) Income Period (IP) Deferment Period (DP) Policy Term (PT)
    Early Income 5, 6, 7, 8, 9, 10, 12 IP = PT minus DP 0 to 5 years Limited Term: 10 to 45 years
    Whole Life: Up to Age 85 or 100
    Deferred Income Limited Term: 10, 15, 20, 25, 30
    Whole Life: till Age 85, till Age 100
    Limited Term: 15 to 45 years
    Whole Life: Up to Age 85 or 100
    Increasing Income Limited Term: 15 to 45 years
    Whole Life: Up to Age 85 or 100
    Wealth NA NA Limited Term: 10 to 45 years
    Whole Life: Up to Age 85 or 100

    Premium Payment Frequency

    Yearly, Half-yearly, Quarterly and Monthly

    The quarterly and monthly mode will be allowed only under auto-debit process (as per the approved RBI facilities).

    Premium

    Minimum

    Maximum

    Annual Premium ₹ 30,000

    As per : No limit (subject to Board approved underwriting policy)

    Sum Assured

    Benefit Sum Assured (BSA) is derived basis Age, Product option, GPB, DP, PT, PPT, Income period and premium chosen by the Policyholder

    Benefits will vary depending upon options chosen.

    Minimum & Maximum Sum Assured on death 11 times of annualised premium

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    Brochure
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    Policy Document
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    Product Presentation
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    Customer Information Sheet
    Download
    Serial Number-1
    Maturity Benefit

    Deferred Income

    On maturity of the Policy, you will receive:

    • Sum Assured on Maturity, i.e. 105% of Total premiums paid plus
    • Accumulated Income benefits, if any  plus
    • Terminal bonus (if declared)

    Early Income

    On maturity of the Policy, you will receive:

    • Sum Assured on Maturity, i.e. 105% of Total premiums paid plus
    • Accumulated Income benefits, if any earlier, plus
    • Terminal bonus (if declared)

    Increasing Income

    On maturity of the Policy, you will receive:

    • Sum Assured on Maturity, i.e. 105% of Total premiums paid plus
    • Accumulated Income benefits, if any, plus
    • Terminal bonus (if declared)

    Wealth

    On maturity, you will receive a lumpsum amount equal to:

    • Maturity Sum Assured, i.e. Maturity Sum Assured Rate x Annualised Premium,
      plus
    • Accrued Simple Reversionary Bonus (if declared), plus
    • Terminal Bonus (if declared)

    Note:

    1. The Benefit Sum Assured will be used for the calculation of Guaranteed Income2, Cash Bonus3, Simple Reversionary Bonus and Terminal Bonus and will not paid on any event.

    2. Sum Assured on Maturity is equal to (i) 105% of the Total Premiums* paid under Early Income option and (ii) Maturity Sum Assured under Wealth option

    3. Annualised Premium is exclusive of any extra premium, rider premium, GST & cess, if any.

    4. Total Premium is the sum total of all the premiums received and is exclusive of extra premium,rider premium and GST & cess, if any.

    Serial Number-2
    Death Benefit

    Deferred Income

    In case of death of the Life Assured during the policy term, the death benefit will be paid as lump-sum:

    • Sum Assured on Death plus
    • 105% of Accumulated Income benefits, if any plus
    • Terminal Bonus (if declared)
    Early Income

    In case of death of the Life Assured during the policy term, the death benefit will be paid as lump-sum:

    • Sum Assured on Death plus
    • 105% of Accumulated Income benefits, if any earlier plus
    • Terminal Bonus (if declared)

    Increasing Income

    In case of death of the Life Assured during the policy term, the death benefit will be paid as lump-sum:

    • Sum Assured on Death, plus
    • 105% of Accumulated Income benefits, if any plus
    • Terminal Bonus (if declared)

    Wealth

    In case of the death of Life Assured during the policy term, the death benefit will be paid as lump-sum:

    • Sum Assured on Death, plus
    • Accrued simple reversionary bonus (if declared), plus
    • Terminal Bonus (if declared)

    Note:

    1. Guaranteed Death Benefit is 105% of the Total Premiums paid.

    2. Sum Assured is 11 times of Annualised Premium.

    3. The Benefit Sum Assured will be used for the calculation of Guaranteed2Income, Cash Bonus3, Simple Reversionary Bonus and Terminal Bonus and will not paid on any event.

    4. Annualised Premium is exclusive of any extra premium, rider premium, GST & cess, if any.

    5. Total Premium is the sum total of all the premiums received and is exclusive of extra premium,rider premium and GST & cess, if any.

    2Conditions Apply - The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors.

    3Bonuses are not guaranteed and it depends on the company's performance

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    Why Bajaj Allianz Life Insurance ?

    99.23%
    Claim Settlement Ratio~
    1 Day
    Claim Approval%
    AAA
    CARE Stable Rating$
    ₹ 1,21,338 Cr
    Assets Under Management (AUM)**
    4.09 Cr
    Number of Lives Covered#
    432%
    Solvency Ratio of 432%^

    Disclaimer:~Individual Death Claim Settlement Ratio for FY 2023-2024 | %96.70% of non-investigative individual claims approved in one working day for FY 2023-24. 1 day is counted from date of intimation of claim before 3 PM on a working day (excluding Non-NAV days for ULIP) at Bajaj Allianz Life offices | $For details refer to press release published by CARE | **All figures as on 31 March 2024 | ^Solvency ratio 432% as at 31 March 2024 against IRDAI mandated 150% | #Individual & Group.

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    Disclaimers:
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    *Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.

    $Product feature/benefit mentioned is dependent on the option chosen by the customer.

    Product of the Year - Source - https://www.businesswireindia.com/product-of-the-year-announces-2024-winners-consumers-recognize-innovation-90443.html
     

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