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Bajaj Allianz Elite Assure Plan

What is the Plan all About?

Bajaj Allianz Elite Assure is a traditional, participating endowment plan that provides life cover and attractive returns along with offering a financial protection to your loved ones. This plan provides a balanced investment portfolio that ensures returns.The plan can be opted as a regular or limited pay as per the customer.


What are the Key Features?

  • Life cover & great return on investment
  • Plan offers accrued Guaranteed Loyalty Additions
  • Multiple policy term options to choose from
  • Flexibility to choose regular or limited premium payment term
  • Opt riders to enhance coverage
  • Option to back date the policy
  • Plan offers premium rebate
  • Option to change premium payment frequency
  • Tax Benefits under Section 80 C & 10 (10 D)

What are the Plan Benefits?

Death Benefit

    In the event of death of the life insured during the policy term, provided all due premiums are paid, the death benefit payable is sum assured on death plus guaranteed loyalty additions plus vested bonus plus interim bonus plus terminal bonus. Guaranteed death benefit is 105% of the total premiums paid as on the date of death. Sum assured on death is higher of sum assured or guaranteed maturity benefit.

Maturity Benefit

    Maturity benefit under this plan is Guaranteed Maturity Benefit (GMB) plus Guaranteed Loyalty Additions (GLA) plus Vested Bonus plus Interim Bonus plus Terminal Bonus.

Loan Benefit

    Loan amount is payable up to 90% of the surrender value. The outstanding loan amount plus interest is deducted from the benefit payable on death/surrender/maturity.

Surrender Value

    Surrender Value can be acquired after payment of all due premiums for at least 1/2 full policy years, when the premium payment term is less than 10 years/premium payment term is 10 years or more, respectively. Surrender Value is higher of Guaranteed Surrender Value and Special Surrender Value.

Tax Benefit

    Premiums paid and maturity/surrender/death benefit under this policy provides tax benefits under section 80C & 10 (10D) of the IT Act, 1961.

Who can Buy the Plan?

Factor Minimum Maximum
Age (as on last birthday) 0 Year 55 Years
Age at Maturity 18 Years 70 Years
Policy Tenure 15/20/25 Years 30 Years
Premium Paying Term 7/10 Years -
Premium Paying Mode Annually, Semi Annually, Quarterly & Monthly -
Premium Amount As Per The Chosen Guaranteed Maturity Benefit -
Sum Assured 10 Times Of Annualized Premium -
Freelook Period 15 Days/30 Days (for Distance Marketing Channel) From The Receipt Of The Policy -
Grace Period 30 Days (15 Days For Monthly Mode) -
Plan Type Online -

Is any Rider Available with this Plan?

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 can be opted under this plan.

How the Plan Works?

Let us understand the plan with the example:

Age of Life Insured: 30 years

Naresh (life insured) opted policy term and premium paying term of 25 years. He chose a Guaranteed Maturity Benefit of Rs 6,00,000 with annual premium of Rs 58,424. Sum assured under this scenario is Rs 5,84,240.

Bajaj Allianz Elite Assure

Bajaj Allianz Elite Assure Plan

In the event of death of Naresh during 17th policy year, the nominee will receive the following death benefit:

Bajaj Allianz Elite Assure Plan 1

Please note, vested bonus at the assumed rate of investment is at 8% & 4% and it is non-guaranteed and it is for explanatory purpose only.