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Bajaj Allianz Lifelong Assure is a participating, limited pay whole life insurance plan which assures you lifelong income with a lifelong cover. The plan offers you protection and income till you turn 100 years so that you can live worry free for the rest of your life independently on your own terms.BUY NOW
Incase of death of the life insured, the nominee will receive death benefits as per the age of the insured.
Life assured will start receiving Guaranteed Cash Back of 3% of your Sum Assured every year, from the end of your premium payment term till the age of 99 years. You will be entitled for Cash Bonus declared, if any, starting from the end of 6 policy year till the age of 99 years.
In case of survival of the life insured on attaining age 100 years, the maturity benefit is payable as per the opted premium payment term (PPT).
Cash Bonus starting from the end of 6 year is payable along with interim bonus.
You can avail the maximum loan amount up to 80% of the Surrender Value.
This policy acquires Surrender Value after payment all due premiums for at least three full policy years. Upon surrendering the policy, the higher of Guaranteed Surrender Value or Special Surrender Value is payable.
This policy provides tax benefits for the premium paid under section 80C and the benefits received can avail tax benefits under section 10 (10D) of the Income Tax Act, 1961.
|Age (as on last birthday)||10 Years||55 Years|
|Age at Maturity||-||100 Years|
|Policy Tenure||100 Minus Entry Age||-|
|Premium Paying Term (PPT)||10/15 Years||20 Years|
|Premium Paying Mode||Annually, Semi Annually, Quarterly & Monthly||-|
|Premium Amount||For PPT 10 Years- Rs 18,303 P.a For PPT 15 Years- Rs 13,401 P.a For PPT 20 Years – Rs 10,811 P.a||Depends On The Chosen Basic Sum Assured, Age At Entry And Premium Payment Term|
|Basic Sum Assured||Rs 1 Lakh||No Limit (subject To Underwriting)|
|Freelook Period||15 Days/30 Days (for Distance Marketing Channel) From The Receipt Of The Policy||-|
|Grace Period||30 Days/ 15 Days (monthly Mode)||-|
Following riders can be opted along with this plan:
Let us understand the plan with an illustration:
Ravi aged 30 years has taken a Bajaj Allianz Lifelong Assure policy for a premium paying term of 20 years. The Sum Assured chosen by him is `5,00,000 for which he is paying an annual premium of `51,805 after a high sum assured rebate of `4000. The benefits received by Ravi will be as follows.