|
|
|
|
|
|
|
Insurance Company
|
Bajaj Allianz Life Insurance Company Ltd
|
|
Plan Name
|
Bajaj Allianz Invest Plus
|
|
Plan Nature
|
TRADITIONAL
|
|
Plan Category
|
Term Plan
|
|
UIN No.
|
116N074V01
|
|
About Plan
|
Bajaj Allianz Invest Plus Presenting a one-of-its-kind investment plan that is secure, accountable and transparent All in one. Bajaj Allianz Invest Plus helps you get security while ensuring peace of mind. The guaranteed investment returns give you a great maturity benefit and protection to your family. You can multiply your returns by paying additional premiums. Securing the future of your family and yourself was never this easy. Enjoy your life with this all-in-one plan, and leave your worries to us.
|
|
|
|
|
|
|
|
Minimum Entry Age
|
7 Years (18 years in case of all additional Rider Benefits)
|
|
Maximum Entry Age
|
60 Years (50 years in case of all Additional Rider Benefits)
|
|
Minimum Maturity Age
|
18 Years
|
|
Maximum Maturity Age
|
70 Years
|
|
Minimum Policy Term
|
10,15,20 and 25 years
|
|
|
|
|
|
|
|
|
|
Benefits
|
|
|
| Particulars | Description |
|
Maturity Benefits
|
The maturity benefit shall be The Accrued Maturity Value as on Maturity Date plus Refund of a proportion of thetotal life insurance premium paid (excluding any rider premium, extra premium and service tax); subject to a minimum of the Guaranteed Maturity Value.Plus the Additional Accrued Maturity Value, if any, as on Maturity Date.
|
|
Death Benefits
|
The Benefit payable to the Nominee (provided the policy is in force) will be equal to the amount of Sum Assured under the Policy plus the Accrued Maturity Value plus the Additional Accrued Maturity Value, if any, as on date of receipt of intimation of death In case of paid up policy, the benefit shall be higher of the reduced Sum Assured and the Paid Up Accrued Maturity Value, plus the Additional Accrued Maturity Value, if any, as on the date of receipt of intimation of the death.In case of lapsed policy, the benefit shall be equal to the Additional Accrued Maturity Value, if any, as on the date of receipt of intimation of the death.
|
|
Loan against policy
|
You can avail up to 85% of the surrender value of the Accrued Maturity Value as loan from the Company, after three policy years at prevailing rate of interest provided at least threeyears regular premiums have been paid in full. On payment of death, maturity or surrender benefit, any outstanding loan amount with interest shall be deducted from the benefit.
|
|
Additional Benefits
|
Loyalty Additions: If the Regular Premium has been paid in full for the first 10 Policy Years, then from the11th Policy Year, the Company will add Loyalty Addition to the Accrued Maturity Value equal to the 10% of the subsequent net premium on receipt of each Regular Premium by the Company.
|
|
Surrender Benefit
|
You may surrender the policy after three policy years, provided first three years Regular Premiums have been paid in full. The Surrender Value shall be equal to the AccruedMaturity Value plus the Additional Accrued Maturity Value, if any, less applicable penalty and subject to application of Market Value Adjustment (MVA), if any.
|
|
|
|
Tax Benefits
|
|
|
| Section | Description |
|
SEC 80 C
|
Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
|
|
SEC 10 (10)D
|
Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
|
|
SEC 80 D
|
Under Section 80 D premium up to Rs 10,000 (Rs.15,000 for senior citizens) are allowed as deduction from taxable income.
|
|
|
|
|
|
|
|
|
|
|
|
Presenting a one-of-its-kind investment plan that is secure, accountable and transparent- All in one.This plan helps you get security while ensuring peace of mind. Theguaranteed investment returns give you a great maturity benefit and protection to your family.
|
|
1) Guaranteed Investment Returns and minimum Guaranteed Maturity Value.2) 10% of each Net Premium added as Loyalty Additions from the 11th Policy Year3) Refund of a proportion of the cost of your life insurance cover at maturity4) Option to pay Premium over and above the Regular Premium to acquire Additional Accrued Maturity Value5) Choice of insurance cover as per your requirement6) Option to take loan up to 85% of the surrender value of Accrued Maturity Value.7) Option to en-cash partially the Additional Accrued Maturity Value8) A host of optional Additional Rider Benefits to choose from9) Option to reduce the regular premium from the fourth policy year
|
|
- Accidental Death Benefit Rider- Accidental Total / Partial Disability Benefit Rider- Critical Illness Benefit Rider- Hospital Cash Benefit Rider- Waiver of Premium Rider- Family Income Benefit Rider
|
|
The Company will declare a Guaranteed Investment Return for a year at the start of each financial year keeping in view the expected rate of Investment Return in the coming financial year. The Guaranteed Investment Return shall be used to enhance the Accrued Maturity Value and the Additional Accrued Maturity Value, if any, on a monthly basis at end of each calendar month. For any cash flow taking place during the month, the GIR for that cash flow shall be calculated and credited for the fraction of the month.
|
|
Market Value Adjustment (MVA) will be the reduction to the AMV and/or the AAMV that may be applied by the company on the date of Full or Part surrender payment, based on the need for the Company to realize the investments and the market value of the assets as on that date.
|
|
You can avail up to 85% of the surrender value of the Accrued Maturity Value as loan from the Company, after three policy years at prevailing rate of interest provided at least three years regular premiums have been paid in full. On payment of death, maturity or surrender benefit, any outstanding loan amount with interest shall be deducted from the benefit.
|
|
You have the option to pay Additional Premium at any time except during the last three policy years before the Maturity Date, provided all due Regular Premium has been paid.
|
|
You can reduce your regular premium after three policy years by giving a written notice at least 30 days prior to a policy anniversary, provided you have paid all due regular premiums till date. Such reduction in regular premium shall be subject to the minimum regular premium payable under the product at the time of such reduction and further the revised regular premium shall not be less than the life insurance premium and the rider premium, if any, including any extra premium, payable under the policy. Any reduction in regular premium shall not result in any reduction of sum assured. The reduction in regular premium shall be effected from the policy anniversary.
|
|
|
|
|
|
|
|
03-Jul-09
10:49
|
Bajaj Allianz has invested Rs 50 cr SKS Microfinance
|
|
16-Jun-09
10:59
|
Bajaj Allianz Life has launched Invest Plus
|
|
21-May-09
11:46
|
Bajaj Allianz Life Insurance posted profit of Rs 45 Cr in FY09
|
|
13-May-09
12:59
|
Bajaj Allianz Life launched ULIP plan
|
|
21-Apr-09
10:41
|
Allianz expands India presence into asset management
|
|
11-Apr-09
10:45
|
Policies for women : Bajaj Allianz
|
|
31-Mar-09
09:46
|
Bajaj Allianz to insure all Volkswagen vehicles
|
|
17-Feb-09
16:20
|
Bajaj Allianz launches CenturyPlus II
|
|
20-Jan-09
12:50
|
Private insurers see market share rise to 62%
|
|
16-Jan-09
16:20
|
Bajaj Allianz Life Insurance GWP is Rs 6726cr
|
|
17-Dec-08
14:15
|
Equity-based Ulips outdo indices
|
|
13-Dec-08
11:20
|
Allianz sees bright future for its Asian operations
|
|
21-Nov-08
09:56
|
Bajaj Allianz to infuse Rs.300 Cr
|
|
30-Aug-08
10:12
|
Vijender Singh snapped up by Bajaj Allianz Life Insurance
|
|
22-Aug-08
17:00
|
Bajaj Allianz Life Insurance is going in for a rejig
|
|
18-Aug-08
11:40
|
Bajaj Allianz Introducing Bajaj Allianz Fortune Plus
|
|
|
|
|
View another Plan
|
|
|
|
|
Insurance Company
|
|
|
|
|
Solution for
|
|
|
|
|
Type
|
|
|
|
|
Category
|
|
|
|
|
Plan
|
|
|
|
|
|
|