&#11088 What is the Survival Benefit under this plan?

Under both variants, provided all due premiums are paid, the Survival Benefit is the Guaranteed Monthly Income (GMI), which is paid every month for a period of 144 months, beginning from the end of premium payment term.

&#11088 How does the policyholder choose the Guaranteed Monthly Income amount? Is it fixed throughout the policy term?

The policyholder has to select the GMI amount at the time of purchasing the policy which then remains fixed throughout the term of the policy.

Savings Plan With Monthly Returns | Bajaj Allianz Life Income Assure

PPT	Multiplier
5 years	1,100
7 years	1,400
10 years	1,800
10 years	2,100

Variants	Premium (in `)
Income	21,965 per annum / 1,977 monthly
Assure	22,058 per annum / 1,985 monthly
Premium for female life will be based on the premium rate of 3 years younger male

GMI	Total GMI during the Policy Term
` 3,000	` 4,32,000

GMI

Total GMI during the Policy Term

` 3,000

` 4,32,000

At Assumed investment return^**	of 8%	of 4%
Non-guaranteed vested bonus (if any)	` 4,66,859	` 54,933

At Assumed investment return^**

of 8%

of 4%

Non-guaranteed vested bonus (if any)

` 4,66,859

` 54,933

Assure (Refer figure: 1)
Sum Assured on Death	` 4,32,000
Non-guaranteed vested bonus (if any)	` 1,19,510 (@ Assumed Investment Return^** of 8%)	` 17,585 (@ Assumed Investment Return^** of 4%)
Total Death Benefit	` 5,51,510 (@ Assumed Investment Return^** of 8%)	` 4,49,585 (@ Assumed Investment Return^** of 4%)

Assure (Refer figure: 1)

Sum Assured on Death

` 4,32,000

Non-guaranteed vested bonus (if any)

` 1,19,510 (@ Assumed Investment Return^** of 8%)

` 17,585 (@ Assumed Investment Return^** of 4%)

Total Death Benefit

` 5,51,510 (@ Assumed Investment Return^** of 8%)

` 4,49,585 (@ Assumed Investment Return^** of 4%)

Income (Refer figure: 2)
Non-guaranteed vested bonus(if any) paid on date of death	` 1,19,510 (@ Assumed Investment Return^** of 8%)	` 17,585 (@ Assumed Investment Return^** of 4%)
And Rs. 3,000 per month as Monthly Income for next 144 months
	Monthly Income	Total Monthly Income incase of death
	` 3,000	` 4,32,000

Income (Refer figure: 2)

Non-guaranteed vested bonus(if any) paid on date of death

` 1,19,510 (@ Assumed Investment Return^** of 8%)

` 17,585 (@ Assumed Investment Return^** of 4%)

And Rs. 3,000 per month as Monthly Income for next 144 months

Monthly Income

Total Monthly Income incase of death

` 3,000

` 4,32,000

Income	Vested bonus (if any ) plus terminal bonus, if any, will be paid immediately The sum assured on death will be paid to the nominee as monthly income, over the next 144 equated monthly installments (over the next 12 years), and the first installment will start from date of death The nominee will not have the option of taking the installments in lump sum All risk cover under the policy will cease as on the date of death of the life assured The policy will terminate on payment of the 144th monthly installment
Assure	Death benefit will be paid as a lump sum The policy will terminate on the date of death of the life assured

Income

Vested bonus (if any ) plus terminal bonus, if any, will be paid immediately
The sum assured on death will be paid to the nominee as monthly income, over the next 144 equated monthly installments (over the next 12 years), and the first installment will start from date of death
The nominee will not have the option of taking the installments in lump sum
All risk cover under the policy will cease as on the date of death of the life assured
The policy will terminate on payment of the 144th monthly installment

Assure

Death benefit will be paid as a lump sum
The policy will terminate on the date of death of the life assured

Sr. no	Rider	UIN
1	Bajaj Allianz Accidental Death Benefit Rider	UIN: 116B034V02
2	Bajaj Allianz Accidental Permanent Total/ Partial Disability Benefit Rider	UIN: 116B036V02
3	Bajaj Allianz Critical Illness Benefit Rider	UIN: 116B035V02
4	Bajaj Allianz Family Income Benefit Rider	UIN: 116B037V02
5	Bajaj Allianz Waiver of Premium Benefit Rider	UIN: 116B031V02

Sr. no

Rider

UIN

Bajaj Allianz Accidental Death Benefit Rider

UIN: 116B034V02

Bajaj Allianz Accidental Permanent Total/ Partial Disability Benefit Rider

UIN: 116B036V02

Bajaj Allianz Critical Illness Benefit Rider

UIN: 116B035V02

Bajaj Allianz Family Income Benefit Rider

UIN: 116B037V02

Bajaj Allianz Waiver of Premium Benefit Rider

UIN: 116B031V02

⭐ Does the plan offer High Sum Assured Rebate (HSAR)?

Yes, this plan offers HSAR. On every additional ` 1,000 sum assured purchased over and above the minimum sum assured, the policyholder can get HSAR. It is calculated on the basis of minimum sum assured and premium payment term as mentioned below:

Premium Payment Term (in years)	5	7	10	12
Minimum Sum Assured (in `)	1,58,400	2,01,600	2,59,200	3,02,400
HSAR (in `)	6	3.5	2.5	2

For better understanding, let’s assume Mr X, aged 30 years buys this policy and opts for Guaranteed Monthly Income (GMI) of ` 3,000 per month for a policy term of 24 years and a premium payment term of 12 years. His sum assured will be ` 4,32,000 and the premium will be ` 32,046 per annum before applying HSAR. However, after application of HSAR, the premium will come down to ` 31,788 after HSAR of ` 258 per annum is applied.

⭐ What are the riders available with Income Assure?

You have the option to choose from five riders by paying a nominal extra charge. These are Bajaj Allianz Accidental Death Benefit Rider, Bajaj Allianz Accidental Permanent Total / Partial Disability Benefit Rider, Bajaj Allianz Critical Illness Benefit Rider, Bajaj Allianz Family Income Benefit Rider and Bajaj Allianz Waiver of Premium Benefit Rider.

Life Insurance Glossary

Annualized Premium

“Annualised Premium” means the total amount of Regular Premiums payable in a Policy Year, after due consideration of applicable premium factors for various Premium Payment Frequency. In this calculation, any extra premium, Rider Premium or applicable taxes are excluded.

Grace Period

“Grace Period” means a period of fifteen (15) days for a monthly Premium Payment Frequency and thirty (30) days for other than monthly Premium Payment Frequency, from the due date of the Regular Premium payment.

Life Assured

“Claimant” means the Life Assured (if alive) or Policyholder (if different from the Life Assured) or the assignee or the Nominee or the legal heirs of Policyholder/Nominee(s) to whom the Policy Benefit will be payable.

Maturity Date

“Maturity Date” means the date specified in the Schedule on which the Maturity Benefit as per policy document shall become payable to the Policyholder

Nominee

“Nominee” means the person who has been nominated in writing to the Company by the Policyholder, who is entitled to receive the Death Benefits under the Policy as mentioned in Policy Document

Paid up Sum Assured on Death

“Paid-up Sum Assured on Death” is the reduced value of the Sum Assured on Death arrived at by multiplying the Sum Assured on Death with the proportion of the number of Regular Premiums paid to the total number of Regular Premiums payable under the Policy.

Paid up Sum Assured on Maturity

If the Regular Premiums due for first three (3) Policy Years are paid and subsequent Regular Premiums are not paid, the Policy will, immediately and automatically, be converted to a paid-up Policy on the expiry of the Grace Period as per the conditions stated in the policy document.

Paid up Sum Assured

“Paid-up Sum Assured” is the reduced value of the Sum Assured arrived at by multiplying the Sum Assured with the proportion of the number of Regular Premiums paid to the total number of Regular Premiums payable under the Policy

Policyholder

“Policyholder” means the adult person named in the Schedule who has concluded the Policy with the Company

Rider Benefit

“Rider Benefit” means the benefit payable under the Rider on the happening of the contingent event covered under the Rider. For more details, refer to the Policy Document

Rider Life Assured

“Rider Life Assured” means the person named as the Rider Life Assured in the Schedule whose life is assured under this Rider

Rider Premium

“Rider Premium” means the amount exclusive of applicable taxes, if any, payable by the Policyholder at regular intervals during the Rider Premium Paying Term, in amount (along with and as part of the Regular Premium) and at the Premium Payment Frequency.

Rider Premium Paying Term

“Rider Premium Paying Term” means the period specified in the Schedule during which the Rider Premium is payable.

Rider Term

"Rider Term” means the period between the Date of Commencement of Rider and the Rider Maturity Date, as mentioned in the Schedule

Sum Assured

“Sum Assured” is the amount as specified in the Schedule under the Policy.

Surrender Benefit

“Surrender Benefit” means the benefit, if any, payable on the surrender of the Policy. For more details refer to the Policy Document

Vested Bonus

“Vested Bonus” is the amount of compound reversionary bonus already attached with the Policy, based on the rates of compound reversionary bonus declared by the Company in the past for this plan at the end of each Financial Year

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Amongst ‘Top 75 most valuable Indian Brands 2020’¹
One of the most Trusted Brand²
Claims Settlement Ratio 98.48%^~
1 Day Claim Approval⁷
Solvency ratio of 666%^
AAA (IS):Stable Rating by CARE^$
Claim deposits via electronic transfer to make process faster
` 73,773 Crore Total Assets Under Management (AUM)^**
2.36 Crore number of lives covered^#
Our Priority is not to sell Life Insurance, it is to serve you in the fastest & most convenient manner when you need us.

~Individual Claims Settlement Ratio for FY 2020-2021

**All figures as on 31 March 2021

^Solvency ratio 666% as at 31 March 2021 against IRDAI mandated 150%

^#Individual & Group

¹ Report published by Kantar millward brown

²Survey conducted by brand equity – Nielsen in March 2020

⁷95% of non-investigative individual claims approved in one working day for FY 2020-21. 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

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GLOSSARY - PULL SMS TABLE!
1	For Callback for service related queries	SUPPORT<space>POLICY NO	8108222251
2	For Callback for renewal premium payment related queries (From Registered Mobile Number)	RENEW<space>POLICY NO
3	For Branch Address	BRANCH<space>PIN CODE
4	For Callback for Reinvestment related queries (From Registered Mobile Number)	REINVESTMAT<space>POLICY NO
5	For Fund Value of Policy (From Registered Mobile Number)	FV<space>POLICY NO
6	For Account Statement (From Registered Mobile Number)	ACCSTMT<space>POLICY NO
7	To Update Email Address (From Registered Mobile Number)	EREG<space>Unique ID*<space>DOB of policyholder in DDMMYYYY<space>email id
8	For Callback for queries related to fund switching	FSWITCH<space>POLICY NO
9	For IT Certificate (From Registered Mobile Number)	TAXCERT<space>POLICY NO
10	For Claim status	CLAIM<space>POLICY NO

GLOSSARY - PULL SMS TABLE!

No.

Service

Type Keyword

Send To

For Callback for service related queries

SUPPORT<space>POLICY NO

8108222251

For Callback for renewal premium payment related queries (From Registered Mobile Number)

RENEW<space>POLICY NO

For Branch Address

BRANCH<space>PIN CODE

For Callback for Reinvestment related queries (From Registered Mobile Number)

REINVESTMAT<space>POLICY NO

For Fund Value of Policy (From Registered Mobile Number)

FV<space>POLICY NO

For Account Statement (From Registered Mobile Number)

ACCSTMT<space>POLICY NO

To Update Email Address (From Registered Mobile Number)

EREG<space>Unique ID*<space>DOB of policyholder in DDMMYYYY<space>email id

For Callback for queries related to fund switching

FSWITCH<space>POLICY NO

For IT Certificate (From Registered Mobile Number)

TAXCERT<space>POLICY NO

For Claim status

CLAIM<space>POLICY NO

GLOSSARY - PULL SMS TABLE!
1	For Callback for service related queries	SUPPORT<space>POLICY NO	8108222251
2	For Callback for renewal premium payment related queries (From Registered Mobile Number)	RENEW<space>POLICY NO
3	For Branch Address	BRANCH<space>PIN CODE
4	For Callback for Reinvestment related queries (From Registered Mobile Number)	REINVESTMAT<space>POLICY NO
5	For Fund Value of Policy (From Registered Mobile Number)	FV<space>POLICY NO
6	For Account Statement (From Registered Mobile Number)	ACCSTMT<space>POLICY NO
7	To Update Email Address (From Registered Mobile Number)	EREG<space>Unique ID*<space>DOB of policyholder in DDMMYYYY<space>email id
8	For Callback for queries related to fund switching	FSWITCH<space>POLICY NO
9	For IT Certificate (From Registered Mobile Number)	TAXCERT<space>POLICY NO
10	For Claim status	CLAIM<space>POLICY NO

GLOSSARY - PULL SMS TABLE!

No.

Service

Type Keyword

Send To

For Callback for service related queries

SUPPORT<space>POLICY NO

8108222251

For Callback for renewal premium payment related queries (From Registered Mobile Number)

RENEW<space>POLICY NO

For Branch Address

BRANCH<space>PIN CODE

For Callback for Reinvestment related queries (From Registered Mobile Number)

REINVESTMAT<space>POLICY NO

For Fund Value of Policy (From Registered Mobile Number)

FV<space>POLICY NO

For Account Statement (From Registered Mobile Number)

ACCSTMT<space>POLICY NO

To Update Email Address (From Registered Mobile Number)

EREG<space>Unique ID*<space>DOB of policyholder in DDMMYYYY<space>email id

For Callback for queries related to fund switching

FSWITCH<space>POLICY NO

For IT Certificate (From Registered Mobile Number)

TAXCERT<space>POLICY NO

For Claim status

CLAIM<space>POLICY NO

Calling From	Phone Number (Toll Free)
AUSTRALIA	80037371371
CANADA
HONG KONG
ISRAEL
MALAYSIA
NEW ZEALAND
PHILIPPINES
SINGAPORE
THAILAND
UNITED KINGDOM
BRUNEI	8014605
INDONESIA	0018030160202
JORDAN	080023194
OMAN	80074363
TURKEY	00800142030059
VIETNAM	1800400070
UNITED STATES	18339680951
Calling us from INDIA	18002097272
Rest of the World	+912067871700 (Call charges apply)

Calling From

Phone Number (Toll Free)

AUSTRALIA

80037371371

CANADA

HONG KONG

ISRAEL

MALAYSIA

NEW ZEALAND

PHILIPPINES

SINGAPORE

THAILAND

UNITED KINGDOM

BRUNEI

8014605

INDONESIA

0018030160202

JORDAN

080023194

OMAN

80074363

TURKEY

00800142030059

VIETNAM

1800400070

UNITED STATES

18339680951

Calling us from INDIA

18002097272

Rest of the World

+912067871700
(Call charges apply)

Terms & Conditions

Bajaj Allianz Life Income Assure Watch Video A Non-linked Participating Guaranteed Monthly Income Life Insurance Plan

Savings Plan With Guaranteed Monthly Income - Bajaj Allianz Income Assure

Guaranteed monthly income

Two variants available

Multiple policy terms

Bonus

Multiple rider benefits

Rebate on high sum assured

Option to change premium payment frequency

Variants

Choose your Guaranteed Monthly Income

Choose your life cover variant: Income or Assure

Choose your Premium Payment Term

Choose your Premium Payment Frequency

Entry Age

Minimum age is 0 year

Maximum age is 50 years

Maturity Age

Minimum age of maturity 18 years

Maximum age of maturity 74 years

Policy Term

17, 19, 22, 24 years

Premium Paying Term

5, 7, 10, 12 years

Minimum Guaranteed Monthly Income (GMI)

Maximum Guaranteed Monthly Income

Premium Payment Frequency

Yearly and Monthly~

Minimum Premium

Maximum Premium

As per the maximum sum assured

Sum Assured

Minimum

Maximum

Brochure

Policy Document

Product Presentation

Amit, 30 years old

For variant Assure - Policy Term: 24 Years

For variant Income - Policy Term: 24 Years

Survival Benefit

Maturity Benefit

Death Benefit

Additional Rider Benefit

⭐ Does the plan offer High Sum Assured Rebate (HSAR)?

⭐ What is the Survival Benefit under this plan?

⭐ How does the policyholder choose the Guaranteed Monthly Income amount? Is it fixed throughout the policy term?

⭐ What are the riders available with Income Assure?

Life Insurance Glossary

Annualized Premium

Grace Period

Life Assured

Maturity Date

Nominee

Paid up Sum Assured on Death

Paid up Sum Assured on Maturity

Paid up Sum Assured

Policyholder

Rider Benefit

Rider Life Assured

Rider Premium

Rider Premium Paying Term

Rider Term

Sum Assured

Surrender Benefit

Vested Bonus

Dear Customer

Yearly and Monthly^~