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Bajaj Allianz Guarantee Assure is a non-linked, non-participating, individual limited pay endowment plan that ensures safe future for you & your family. This plan provides cover against the uncertainity of future and helps you to lead a worry free life.BUY NOW
In the event of death of the life insured during the policy tenure, sum assured on death plus accrued guaranteed additions are payable to the nominee. Sum Assured on Death is higher of 105% of total premiums paid (till the date of death), 5 times of annualized premium, or sum assured. The policy terminates on the death of the life insured.
The policyholder or the nominee will have the option to take the maturity benefit or death benefit in equal monthly installments over a period of 5 or 10 years (as per your choice) from the date of maturity or the date of intimation of death. The same needs to be informed in writing 3 months prior to the date of maturity or at the time of filing of the death claim form.
At maturity of the policy, the sum assured chosen plus accumulated guaranteed additions are payable. Guaranteed additions are 5%/6%/7% of the sum assured every year when the policy term is 7/8/9 years respectively.
Death or maturity benefit can be taken in equal monthly installments over a period of 5 year or 10 years (as per the choice).
Under this plan, loan can be availed up to 90% of the surrender value.
Surrender Value can be acquired on payment of all due premiums for at least 2 full policy years. Surrender Value is higher of guaranteed surrender value and special surrender value.
This policy provides the tax benefits under section 80C & 10 (10D) of the Income Tax Act, subject to change in tax laws.
|Age (as on last birthday)||Adult: 18 Years, Child: 9 Years||60 Years|
|Age at Maturity||18 Years||69 Years|
|Policy Tenure||7/8 Years||9 Years|
|Premium Paying Term||5 Years||-|
|Premium Paying Mode||Monthly, Quarterly, Semi Annually & Annually||-|
|Premium Amount||Rs 23,839 (annually), Rs 12,158 (semi-annually), Rs 6,198 (quarterly), Rs 2,145 (monthly)||No Limit (subject To Underwriting)|
|Sum Assured||Rs 1 Lac||No Limit (subject To Underwriting)|
|Freelook Period||15 Days/30 Days (for Distance Marketing Channel) From Receipt Of The Policy||-|
|Grace Period||30 Days (15 Days For Monthly Mode)||-|
No Rider(s) is available under this plan.
Let us understand the plan with the help of an example:
Age of Life Insured: 30 years
Policy Term Chosen: 9 years
Rakesh (Life insured) has opted for a Bajaj Allianz Guarantee Assure Policy with a policy term of 9 years. The sum assured he opted for is Rs 5 Lacs with an annual premium of Rs 1,28,020. At maturity of the policy, he will receive Rs 5 Lacs plus the accrued guaranteed addition of Rs 3.15 Lacs. The total maturity benefit is Rs 8.15 Lacs.
In the event of death of Rakesh during the 3rd policy year, the nominee will receive Rs 7,10,100 as a death benefit.