Bajaj Allianz Investment Plans

• Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
• Claim up to Rs. 1,50,000 deduction under section 80C**
• Choose between annual and monthly premium payment options

Investment insurance is a great way to secure the financial goals of an individual with the resources currently in hand. Bajaj Allianz offers an extensive range of investment insurance plans that help a customer plan financially for the goals in his/her life. These plans also offer protection to the family of the life assured against unforeseen incidents.

Benefits of Bajaj Allianz Investment Plans:

• Some of the investment plans from Bajaj Allianz enable the customer to opt for double the sum assured as life coverage.
• Bonuses are offered at regular intervals to enhance the savings of the life assured.
• The plans also offer the choice of taking policy benefits in the form of monthly installments.
• High sum assured rebate is provided by most of these policies.
• The investment plans offer premium rebates for female customers.
• Bajaj Allianz investment insurance plans can be enhanced with optional riders that are available at an extra cost.

List of Investment Plans Provided by Bajaj Allianz:

The Investment Plans provided by Bajaj Allianz are the following:

Bajaj Allianz Invest Assure:

This is a plan that provides the policyholder assured life insurance protection with financial benefits. The plan has a limited premium payment term and it offers attractive premium rates for female customers.

Benefits and Features of Bajaj Allianz Invest Assure Plan:

• Customers have the option to choose 1.25 times or 2 times the sum assured as life cover.
• The plan provides Compound Reversionary Bonus and Terminal Bonus to the life assured.
• The policyholder can choose to take the policy benefits in the form of monthly installments, if required.
• High sum assured rebate is provided by the plan.
• The base plan can be extended with riders that are provided by Bajaj Allianz, at a nominal cost.
• The Bajaj Allianz Invest Assure plan offers the following payouts:
  1. Maturity Benefit - If all premiums are paid, on the maturity date the policyholder receives the sum assured plus Vested Bonus plus Terminal Bonus as Maturity Benefit. The policy terminates after the payout.
  2. Surrender Benefit - A customer can surrender his/her policy if:
     • The premiums for at least three years have been paid for PPTs of 10 years and above, or,
     • The premiums for at least two years have been paid for PPTs less than 10 years.

The surrender value is the highest among the Guaranteed Surrender Value (GSV) and the Special Surrender Value (SSV). The surrender value is paid at any time of surrender during the policy tenure.

1. Death Benefit - If the policyholder dies before policy maturity, the death benefit will be payable. Death benefit is the Sum Assured at Death plus Vested Bonus plus Terminal Bonus. The Sum Assured at Death is the highest amount among the following:
   • 7 times the annualised premium for entry age of 45 years and above or 10 times the annualised premium for entry age less than 45 years.
   • 1.25 times or 2 times the sum assured.
   • 105% of the total paid premiums till the date of death.
2. Additional Rider Benefit - The base policy can be enhanced through optional riders at an extra cost.
3. Loan - It is possible to avail a loan under the policy, if it has acquired surrender value. The maximum loan amount is 90% of the surrender value.

Bajaj Allianz Fortune Gain:

This is a unit-linked single premium endowment plan that provides maximum premium allocation to ensure that the money of the policyholder is utilised in the best possible manner. The plan provides the customer the option of choosing from 7 investment funds. Customers are also allowed to partially withdraw from the funds, when the need arises.

Benefits and Features of Bajaj Allianz Fortune Gain Plan:

• The policy provides 99.5% premium allocation for single premium of Rs.10 lakh and above.
• Based on the single premium and policy term chosen, Loyalty Additions of 3% of the single premium are provided.
• The plan allows the life assured to pay top-up premium to the level of the paid single premium.
• The policyholder can choose to decrease the sum assured, if required.
• It is possible to switch between funds, so that the customer can manage his/her investments in a better manner.
• The plan enables customers to take the maturity benefit in the form of installments.
• The plan provides the following payouts:
  1. Maturity Benefit - If the policy is in-force on the date of maturity, the maturity benefit payable is the single premium fund value plus top-up premium fund value.
  2. Surrender Benefit - The policyholder can surrender the Bajaj Allianz Fortune Gain policy at any time.
     • When the policy is surrendered during the lock-in period of 5 years, the single premium fund value minus the surrender charges plus the top-up premium fund value is transferred to the discontinued life policy find. The life cover ceases following this. When the lock-in period ends, the discontinuance value is paid out to the policyholder.
     • When the policy is surrendered after the lock-in period of 5 years, the single premium fund value plus top-up premium fund value is provided as the surrender value.

When the surrender value is paid out, the policy terminates immediately.

1. Death Benefit - If the policyholder dies before the policy maturity, the death benefit payable will be the sum of the following:

• The higher of the single premium fund value or the sum assured
• The higher of the top-up premium fund value or the top-up premium sum assured

The sum assured is adjusted based on partial withdrawals made from the single premium fund.

1. Loyalty Additions- Loyalty Additions that are a percentage of the single premium will be added to the single premium fund value on the policy maturity date.

Bajaj Allianz Elite Assure:

This is a traditional participating limited and regular premium payment endowment plan that offers attractive returns and life insurance coverage for your family. Customers can choose from 4 policy terms, as per their requirement. There is an option to increase the coverage through the use of riders as well.

Benefits and Features of Bajaj Allianz Elite Assure Plan:

• The plan provides the perfect balance of life insurance and great returns on investment.
• The policy offers Guaranteed Loyalty Additions up to 315% of the Guaranteed Maturity Benefit, based on the premium payment term chosen.
• Customers can choose policy terms that extend up to 15, 20, 25, or 30 years, based on their life insurance requirements.
• The plan offers the option of limited and regular premium payment terms.
• The policy provides the following payouts:
  1. Maturity Benefit - This is the Guaranteed Maturity Benefit (GMB) plus Guaranteed Loyalty Additions (GLA) plus Interim Bonus (IB) plus Vested Bonus (VB) plus Terminal Bonus (TB).
  2. Death Benefit - If the policyholder dies before the policy maturity, the death benefit will be the Sum Assured at Death plus Vested Bonus plus Terminal Bonus. The Sum Assured at Death is the highest amount among the Guaranteed Maturity Benefit and sum assured.
  3. Surrender Benefit - If the premium payment term is less than 10 years, the life assured can surrender the policy, provided the premium for at least 1 year has been paid. If the premium payment term is 10 years or more, the life assured can surrender the policy, provided the premiums for at least 2 years have been paid. The surrender value is the higher of the following amounts:
     • Guaranteed Surrender Value (GSV), or
     • Special Surrender Value (SSV)
  4. Additional Rider Benefit - The life assured can enjoy extra coverage by opting for additional riders. Bajaj Allianz offers several life insurance riders at an extra nominal cost.
• Additional benefits offered by the plan include:
  1. Premium Rebate - The Bajaj Allianz Elite Assure plan offers a premium rebate if the GMB chosen by the policyholder is greater than Rs. 5 lakh. The premium rebate is valid for each additional GMB of Rs.50,000 above the minimum GMB of Rs.5 lakh. This rebate also varies based on the premium payment term of the policy.
  2. Option to alter the premium payment frequency - A policyholder can opt to change his/her premium payment frequency, if the requested frequency can be aligned with the existing frequency. This alteration is also subject to minimum premium limits under the policy.

Why do you need Bajaj Allianz Investment Plans?

Bajaj Allianz investment plans provide you life insurance protection and investment benefits to financially secure the instabilities in life. These plans also provide tax benefits, as mentioned below:

• Premiums paid towards the policies get tax benefits under Section 80C of the Income Tax Act.
• The benefits paid out, i.e., Maturity Benefits, Death Benefits, and Surrender Value, are eligible for tax rebates under Section 10(10D) of the Income Tax Act, subject to certain provisions.