Bajaj Allianz Life Young Assure Plus Solution Plan (This Plan Has Been Discontinued)

• Uninterrupted flow of income
• Guaranteed Additions
• Guaranteed Maturity Benefit
• 3 Cash Installment Options
• Comprehensive Coverage
• Inbuilt accidental permanent total disability
• Inbuilt waiver of premium
• Meeting rising cost of education
• Flexible premium payment frequency
• Optional riders toenhance coverage

Death Benefit

In the event of death of the life insured during the term of the policy provided all due premiums are paid, the Sum Assured on Death, subject to the guaranteed death benefit of 105% of the total premiums paid till date of death, is payable immediately and the policy will be converted to a fully paid-up policy. Here, Sum Assured on Death is the higher of Sum Assured or the Guaranteed Maturity Benefit.

As a fully paid-up policy, all future Guaranteed Additions, Vested Bonus and Terminal Bonus will accrue in the policy.

Accidental Permanent Total Disability Benefit

In the event of Accidental Permanent Total Disability of the life insured during the term of the policy provided all due premiums are paid, the policy will be converted to a fully paid-up policy and continue to accrue all future Guaranteed Additions, Vested Bonus and Terminal Bonus.

If Accidental Permanent Total Disability Benefit has already received, on the death of the life insured, the death benefit is payable.

Maturity Benefit

The maturity benefit is the sum of Guaranteed Maturity Benefit, Guaranteed Additions, Vested Bonus, Interim Bonus & Terminal Bonus, if any.

You have the option to take the maturity benefit in one of the three cash installment options as opted by you at the policy inception. These cash installment options are paid in annual installments. The first installment commences from the end of the policy term.

Guaranteed Addition

Guaranteed Addition is a percentage of the Guaranteed Maturity Benefit and will be attached to the policy at the end of the policy term.

Bonus

Interim Bonus: In the event of death claim or maturity benefit part way through a financial year or before the valuation result is declared, the Company shall pay interim bonus, as decided by the Company.

Terminal Bonus: If the policy has completed 10 policy years and all due premiums have been paid, the Company will pay a Terminal Bonus, as a percentage of the Guaranteed Maturity Benefit.

Vested Bonus: It is attached to your policy every year, starting from the first policy year.

Loan Benefit

The maximum loan amount that can be borrowed under this policy is 90% of the surrender value.

Surrender Value

Surrender Value is higher of Special Surrender Value or Guaranteed Surrender Value. Surrender Value is acquired on payment of first full policy year’s premium when premium paying term is less than 10 years and it can be acquired on payment of two full policy year’s premium when premium paying term is 10 years or higher.

Tax Benefit

Premiums paid for this policy is eligible for tax benefits under section 80C and Death/Maturity/Surrender benefit can avail tax benefits under section 10 (10D) of the Income Tax Act, subject to prevailing tax laws.

Following riders can be opted under this plan, on payment of additional rider premium.

• Bajaj Allianz Accidental Death Benefit Rider
• Bajaj Allianz Accidental Permanent Total/Partial Disability Benefit Rider
• Bajaj Allianz Critical Illness Benefit Rider
• Bajaj Allianz Family Income Benefit Rider
• Bajaj Allianz Waiver of Premium Benefit Rider

Siddhartha at 30 years of age, opts to buy Bajaj Allianz Life Young Assure Plus Solution with the policy term of 15 years (P1) & 20 years (P2), premium payment term of 15 years and sum assured of Rs 9,64,300 with annual premium of Rs 96,430. On maturity, 10 Cash Installments over 10 years starting from the end of (P1) & (P2) will be paid.

Scenario A: Siddhartha Survives the Policy Term

On maturity, Gautam will receive cash installments as applicable.





The percentages of GMB as Cash Installments and on Maturity are guaranteed. Vested Bonus at investment return of 8% & 4% is not guaranteed and is for illustrative purpose only.

Scenario B: Siddhartha dies during the Term of the Policy

In the event of demise of Gautam during the policy year, his son (nominee) will receive the sum assured on Death of Rs 11,22,538.



Scenario C: Siddhartha gets permanent total disability

In the event of accidental permanent total disability during the policy term, the policy will continue as a fully paid-up policy.