Key Features
- Guaranteed maturity/death benefit of 115% of the sum assured*
- Choice of 2 policy terms, 15 and 17 years.
- Premium Payment Term of 10 and 12 years.
- Option to take policy benefit in monthly installments over a period of 5 or 10 years.
- More value for money with high Sum Assured rebate on premium.
- Option to enhance your coverage with rider benefits
* Policyholder will receive 115% of sum assured as maturity/death benefit, provided all due premiums have been paid.
How Does Your Plan Work:
One can customize the policy to suit the requirement in the following manner:
-
1step – Choose Sum Assured
-
2step – Choose Policy Term
The premium will be based on current age, sum assured and policy term.
Policy Benefits and Features
-
Maturity Benefit
On the maturity date 115% of the sum assured chosen will be paid as maturity benefit, provided all due premiums have been paid.
-
Surrender Benefit
Policyholder will have the option to surrender the policy provided at least 3 full years’ premiums have been paid.
The surrender value shall be higher of the Guaranteed Surrender Value(GSV) and the Special Surrender Value (SSV) will be payable at any time of surrender throughout the term of the policy.
-
Death Benefit
If all due premiums are paid, then, in case of unfortunate death of the life assured during the policy term, the Sum Assured on Death as mentioned below will be payable as death benefit to the nominee :
| Entry Age | Sum Assured on Death will be higher of | ||
|---|---|---|---|
| Less than 45 | 10 times annualised premium*** | 105% of total premium*** paid | 115% of sum assured |
| Equal to or greater than 45 | 7 times annualised premium*** | 105% of total premium*** paid | 115% of sum assured |
*** Annualised premium and total premium taken are excluding any extra premium and/or any service tax and cess on premium.
-
Additional Rider Benefit
Policyholder can enjoy extra coverage by choosing the optional additional rider benefits at a nominal extra cost.The riders available with Bajaj Allianz Save Assure are:
| Sr.no | Rider | UIN |
|---|---|---|
| 1 | Bajaj Allianz Accidental Death Benefit Rider | UIN:116B034V01 |
| 2 | Bajaj Allianz Accidental Permanent Total/ Partial Disability Benefit Rider | UIN:116B036V01 |
| 3 | Bajaj Allianz Critical Illness Benefit Rider | UIN:116B035V01 |
| 4 | Bajaj Allianz Family Income Benefit Rider | UIN:116B037V01 |
| 5 | Bajaj Allianz Waiver of Premium Benefit Rider | UIN:116B031V01 |
-
Loan
Policyholder can avail loan under the policy, provided at least three(3) full years’ premiums have been paid. The loan amount shall be up to 90% of the surrender value.
