- Security for your family with regular income
- Inbuilt Accelerated Terminal Illness (TI) risk cover
- Simple procedure to get risk cover
- No medical examination/tests required
- Plan benefit paid in equated monthly installments
- More value for money with High Sum Assured Rebate
- Attractive rates for female lives
Bajaj Allianz LifeStyle Secure is a non-linked, non-participating regular premium payment insurance plan that provides level cover term assurance or terminal illness benefit. The key advantages of this plan are:
How Does Your Plan Work
You can customize your policy to suit your requirement in the following manner:
Policy Term (PT)
Your premium will be based on your current age, gender, Sum Assured, policy term& premium payment frequency.
Let's see an example:
Shruti aged 28 years has opted for LifeStyle Secure for a policy term of 20 years. The Sum Assured chosen by her is Rs. 12,00,000 for which she is paying an annual premium of Rs. 3,722 after a high sum assured rebate of Rs. 2,475. In case of unfortunate death at any time during the policy term, the benefit received by the nominee/claimant will be Rs. 12,00,000 paid over 240 equated monthly installment. (Same benefits will be payable in case of terminal illness)
Premium shown above is exclusive of Service Tax and any extra premium.
The Claimant is a person who is either 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
Am I Eligible?
5/ 7/ 10/ 15/ 20 years
Mode Yearly Half-Yearly Quarterly Monthly Minimum Premium (in Rs.) 1,466 748 381 132 Maximum Premium (in Rs.) 20,458 10,434 5,319 1,841 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..
Bajaj Allianz LifeStyle Secure (UIN: 116N129V01)
Death & Terminal Illness
If all due premiums are paid under the policy, then, in case of unfortunate death or Terminal Illness (TI) of the life assured, whichever is earlier, the nominee/ claimant will receive the Sum Assured in equated monthly installments as per the table below:
No maturity benefit shall be payable on survival till the end of the policy term.
No surrender benefit is payable under the Policy.
|Policy Term (in years)||5||7||10||15||20|
|Death/ TI benefit is paid over (in Months)||60||84||120||180||240|
High Sum Assured Rebate
The plan offers an attractive premium discount structure, where you can have a discount on the annual premium for each complete additional Rs. 1,000 Sum Assured purchased over and above the minimum Sum Assured of Rs.3,00,000 is Rs. 2.75.
Premium paid are eligible for tax benefit under Section 80C of the Income Tax Act and death benefit is eligible for tax benefit under Section 10(10D) of the Income Tax Act, subject to the provision stated therein.
You are requested to consult your tax consultant before claiming any benefit under the policy.
Today you have a wide variety of life insurance products to choose from.Read More