Launch Date | UIN | Status |
10/12/2013 | 116N122V01 | Active |
Under this Bajaj Allianz Lifelong Assure plan an individual can choose Sum Assured and premium payment term (10 or 15 or 20), depending on it and age of the individual premium is derived. From the 6th year onwards cash bonus if paid is accrued. At the end of premium payment term, guaranteed cash back of 3% of sum assured is paid every year as survival benefit. When the individual turns 100 years old, the policy term ends and he receives maturity benefit. Depending upon the premium payment term chosen and provided if all the premiums are paid the individual gets the maturity benefits;
Suppose if in case on unfortunate death of the individual during the policy term, provided all the due premiums have been paid under the policy, then the nominee receives a higher value from:
Let’s understand this better, by an example;
Consider,
Person’s age: 30 years
Premium payment term: 20 years
Sum assured: Rs. 5 lakhs.
30 year old individual chooses 20 years as premium paying term to pay annual premium of Rs.51,805 after a high sum assured rebate of Rs.4000. From 6th year onwards, every year gets cash bonus till maturity and guaranteed cash back of 3% of sum assured from the end of premium paying term.
After the person turns 100 years old, he gets approximately Rs.15,00,000 as maturity benefit. In case of unfortunate death at age 65 years, the nominee will receive approximately Rs.15,00,000.
The following rider options available are:
Bajaj Allianz ULIP Accidental Death Benefit Rider: Additional sum assured is paid in case of Accidental Death of the insured person.
Bajaj Allianz ULIP Accidental Permanent Total/ Partial Disability Benefit Rider: Additional sum assured is paid in the event of Accidental Permanent Total/ Partial Disability of the insured person.
Bajaj Allianz ULIP Critical Illness Benefit Rider: Protects financially in case of occurrence of 11 critical illnesses including Cancer of specified severity so that money is available when it is needed the most.
Bajaj Allianz ULIP Family Income Benefit Rider: Offers benefit to waiver of all future premiums payable and guarantees security of income to the family on earlier occurrence of untimely death, accidental permanent total disability or critical illness. Making sure the family is financially secure always for a worry free life.
Bajaj Allianz ULIP Waiver of Premium Benefit Rider: Offers benefit to waiver of all future premiums payable under the base Life Insurance Policy on the earlier occurrence of Untimely Death, Accidental Permanent Total Disability or Critical Illness.
Bajaj Allianz is a joint venture between Bajaj Finserv Limited and Allianz SE. Both enjoy a reputation of expertise, stability, and strength. Bajaj Allianz was incorporated in the year March 2001 and started operations in the year August 2001.
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