Bajaj Allianz Life Insurance Company Limited

Endowment Plans

CashRich Traditional Insurance Plan Benefits:

• Accumulated compound reversionary bonus on completion of premium payment term.
• Cash Back benefit of 5% of the sum assured plus cash bonus, if any declared every year, during the cash back period end.
• Sum Assured plus terminal bonus, if any on maturity of the policy.

Key Benefits of Bajaj Allianz CashRich Insurance Plan 

Get cash benefit in three tranches:

• Accumulated compound reversionary bonus on completion of premium payment term.
• Cash Back benefit of 5% of the sum assured plus cash bonus, if any declared every year, during the cash back period end.
• Sum Assured plus terminal bonus, if any on maturity of the policy.

Flexibility to:

• Select your policy term from 10 years to 65 years depending on your financial need.
• Select your limited premium paying term (PPT) from 5 years to 30 years, in multiple of 5 only.
• Pay your future premiums in advance and get benefit of appropriate discounts.

Option to:

• Keep your policy in-force for full sum assured for a period of two years, even if you miss to pay your premiums on due dates, provided you have paid at least 3 year"s premiums in full.
• Convert your policy to a "single premium term cover with return of premium (ROP)" policy, if you miss to pay your premiums on due dates provided you have paid at least 5 years" premiums in full.

Get more value for money with attractive high sum assured rebate

Optional riders to enhance your protection

The installment premium for the premium payment frequencies other than yearly mode is arrived at by multiplying the annual premium by the premium frequency factors, given below.

Term Plans

Term care plan

overview
The 'Bajaj Allianz Term Care' Plan is a term insurance plan. It is an economical way of providing for one's life cover and at the same time ensuring that the premiums paid are returned at maturity.
The 'Bajaj Allianz Term Care' Plan offers you the convenience of choosing between two premium payment options.

Regular Premium Payment - Premium payment throughout the selected term.

Single Premium Payment - One time premium payment for the selected term at commencement.

The minimum premium for Single Premium option shall be Rs. 6,000.

Premium Payment Mode
Premium can be paid in Half Yearly, Yearly or Single Premium.

Plan details
This plan not only offers you life insurance cover at a low cost, but also provides for return of premiums on maturity. The premiums returned at maturity will be equal to the single premium or the sum total of equivalent annual premiums of the Economy Pack (excluding extra premiums charged, if any). In case of pre-mature death during the policy term, the full Sum Assured will be paid to the nominee.
Apart from covering the risk of natural death, this plan also provides you the option to choose upto 5 additional benefits. You can select a specific combination of additional benefits best suited to your needs, available in 4 attractive packages to choose from.

i. Economy: This is the basic plan, which is available for both the regular and single premium payment options.

ii. Protect: This pack comes with the following 3 in-built additional benefits:

• a. Accidental Death Benefit.
• b. Accidental Permanent Total/Partial Disability Benefit.
• c. Waiver of Premium Benefit (in case of accidental permanent total disability).

The Protect Pack is available with the regular premium payment option only.

iii. Health: This pack comes with the following 2 in-built additional benefits:

• a. Critical Illness Benefit.
• b. Hospital Cash Benefit.

The Health Pack is available with the regular premium payment option only.

iv. Total: This pack comes with the following 5 in-built additional benefits:

• a. Accidental Death Benefit.
• b. Accidental Permanent Total/Partial Disability Benefit.
• c. Waiver of Premium Benefit (in case of accidental permanent total disability).
• d. Critical Illness Benefit.
• e. Hospital Cash Benefit.

The Total Pack is available with the regular premium payment option only.

Benefits

Death Benefits
Accidents are always sudden and sometimes fatal. You can't lessen the emotional shock, but you can certainly soften the financial one. Bajaj Allianz Accidental Death Benefit gives your loved ones something to start with after the permanent loss of your income by paying double the basic Sum Assured. The total Accidental Death Benefit shall however be subject to a maximum of Rs. 10,00,000/- under all policies taken with Bajaj Allianz together.

Accidental Permanent Total/Partial Disability Benefit
Accidents are unpredictable and so are the consequences. This may lead to a disability - partial or total. The Bajaj Allianz Accidental Permanent Total/Partial Disability Benefit provides a financial cushion against such misfortunes.

* Subject to a maximum of Rs. 5,00,000/- under all policies with Bajaj Allianz taken together.
** Subject to a maximum of Rs. 10,00,000/- under all policies with Bajaj Allianz taken together.

Critical Illness Benefit (CI): 
Some illnesses are critical. They not only alter your life's pattern but also result in a financial drain. Bajaj Allianz Critical Illness Benefit softens the impact on your family by paying out the Critical Illness Benefit (equal to the Sum Assured) under the plan immediately, while other policy benefits continue (excluding Hospital Cash Benefit). We cover 11 Critical Illnesses.

Waiver of Premium Benefit:
An accident may lead to permanent total disability limiting your ability to earn. The Bajaj Allianz Waiver of Premium Benefit is a helping hand when you need it most. It keeps your insurance cover alive by waiving off future premiums and enables you to live up to your commitments.

Hospital Cash Benefit (HCB): 
The worry of settling hospital bills (room charges) adds to the trauma of hospitalisation. Bajaj Allianz Hospital Cash Benefit reduces this financial burden and helps you to recover with peace of mind.

Tax Benefits
Premiums paid are eligible for Tax Exemption under Section 80(C) of the Income Tax Act and maturity and death proceeds are Tax Free under Section 10(10D) of the Income Tax Act. The premiums for the Critical Illness benefit and the Hospital Cash benefit will be eligible to Tax Exemption under section 80(D) of the Income Tax Act.

Maturity Benefits
Since this plan is a pure term plan, there are no maturity benefits

Flexibility in Coverage
At Bajaj Allianz, we believe in offering benefits and not just products. We realise that you are unique and your needs for insurance vary with time. We therefore offer you the flexibility of including the following benefit combination at each policy anniversary.

Combination 1: Accidental Death Benefit; Accidental Permanent Total/Partial Disability Benefit; Waiver of Premium Benefit. This combination can be added, if not taken earlier, deleted and added subsequently at each policy anniversary.

We also offer the flexibility of excluding the following benefit combination:

Combination 2: Critical Illness Benefit; Hospital Cash Benefit. This combination can be taken at inception only but can be excluded subsequently at any policy anniversary. Once excluded, Combination 2 cannot be included in the policy subsequently.
* Available with the regular premium payment option only.

New Risk Care II

Plan Details
You choose your Sum Assured, Policy Term and you are required to make regular premium installments or a one- time payment. In case of any unfortunate event before the maturity of the Policy, the nominee will receive the death benefit. There is no maturity benefit in this plan

Benefits

Accidental Riders Benefits
We offer you an option to choose from 3 riders to customize your plan and enhance your protection to suit your changing needs.

• Comprehensive Accident Protection : Covers against Accident and Disability - UIN : 116C001V01 .
• Critical Illness Benefit (CI) : Covers you against 11 defined critical diseases - UIN : 116C007V01.
• Hospital Cash Benefit (HCB) : Reduces your burden against hospitalization expenses – UIN: 116C008V01.

(For complete details on riders, please refer to our Additional Rider Benefits Brochure. These additional Rider Benefits are available on regular premium policies only and not on single premium policies.)

Death Benefits
In case of unfortunate death during the term of the Policy the nominee will receive the full Sum Assured.

Tax Benefits
Premium paid will be eligible for tax benefit under Section 80C. The death benefit will be eligible for tax benefit under Section 10(10) D as per the prevailing tax laws.

Maturity Benefits
Since this plan is a pure term plan, there are no maturity benefits

High sum assure rebate
will be offered for all policies where the sum assured exceeds 10 lacs.

Regular Premium:

Single Premium:

Where 'y' is the policy term

Example

Mr. Singh is a 30 years old healthy man and he wants to buy Bajaj Allianz New Risk Care II with a Sum Assured of Rs. 5,00,000. The approximate premium that he will have to pay would be: