Bajaj Allianz Invest Assure

It takes just a few seconds to make promises, but even a lifetime falls short to keep them. If you have promised your family to be with them through thick and thin, then you have to be capable enough to live up to your promises. However, what if your destiny does not allow you to look after them personally? Sad, but true that life is uncertain and its next chapter might unfold surprises or shocks to you. In this regard, it would be wise enough to be prepared to fight the unforeseen, especially when you are not with your family. Keeping this concern in mind, Bajaj Allianz has come up with Bajaj Allianz Invest Assure.

 

Policy – introduction

It is a non-linked, limited premium, individual, participating endowment plan. This insurance policy provides you with guaranteed protection along with financial advantages when your family needs them the most.

 

Policy – Main features

 

Policy – Functioning

Bajaj Allianz Invest Assure is a customizable insurance plan. You can tailor it as per your financial requirements and constraints. All you need to do is follow these simple steps:

 

Policy – Benefits payable

Maturity benefit – If you have made all your premiums payments on time, then on the date of maturity, you are entitled to get maturity benefit. It would be the amount of sum insured along with the terminal and vested bonuses, if any. After all the payments are done, the policy term would terminate.

 

Death benefit – If all premiums payments are clear, then in case of the death of the policyholder, the nominee to the policyholder is entitled to receive the sum insured on death along with vested and terminal bonus, if any. The amount of sum insured on death would be the higher of either of the following:

Note – Total and annualized premiums do not include rider and extra premium, cess and service tax, if any.

 

Surrender Benefit – This would be the higher of the GSV (Guaranteed Surrender Value) and SSV (Special Surrender Value). You can surrender your policy anytime you want, provided you fulfill the following requisites:

 

Extra add-on benefit – you can always enhance your extent of coverage by opting for additional rider. In order to get this extra benefit, you have to pay out a nominal extra charge. The riders that you can avail with the policy are:

 

Policy – Eligibility criteria

Eligibility Criteria	Details
Minimum Age of Entry	Silver Plan – 0 Year
	Gold Plan – 18 Years
Maximum Age of Entry	50 Years
Minimum Age at the time of Maturity	18 Years
Maximum Age at the time of Maturity	Silver Plan – 70 Years
	Gold Plan – 65 Years
Minimum PT	Silver Plan – 17 years
	Gold Plan – 15 Years
Maximum PT	40 Years
PPT	Silver Plan
	PT	17 – 19 Years			20 – 24 Years		25 – 40 Years
	PPT	7 Years and PT minus 10			7, 10 and PT minus 10		7, 10, 15 and PT minus 10
	Gold Plan
	PT	15 – 19 Years			20 – 24 Years		25 – 40 Years
	PPT	5, 7 and PT minus 10			5, 7, 10 and PT minus 10		5, 7, 10, 15 and PT minus 10
Maximum PPT	30 Years
Minimum Premium	Frequency		1 year	6 months		3 months		Per month
	Premium (Rs.)		5000	3000		2000		800
Maximum Premium	No limitation
Minimum Sum Insured	Rs. 100, 000
Maximum Sum Insured	No limitation
Premium Paying Frequency	1 year, 6 months, 3 months and per month

 

Some frequently asked questions

Can you avail Loan benefit?

Well, yes. If you want, you can take loan against your plan, provided the latter has accrued a certain amount of surrender value (SV). The loan value can go up to 90 percent of the SV of your insurance plan.

 

What about tax benefit? Can you avail some?

Of course, there are certain tax benefits. You are eligible to get tax benefits for the premiums paid by you, under the Income Tax Act, Section 80 C. In addition to that, you can also avail the same for maturity, surrender and death benefits under the Income Tax Act, Section 10(10)D.