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Insurance Company
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Bajaj Allianz Life Insurance Company Ltd
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Plan Name
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Bajaj Allianz New UnitGain
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Plan Nature
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ULIP
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Plan Category
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Protection Plan
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UIN No.
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116L020V02
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About Plan
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Presenting an investment plan that provides the best returns possible for every rupee you invest.The plan is structured to provide a secure life cover and extraordinary benefits aligned with our commitment to give you `the ultimate investment plan.'
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Minimum Entry Age
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0 years
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Maximum Entry Age
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60 years
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Minimum Maturity Age
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60 years
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Maximum Maturity Age
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75 years
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Minimum Policy Term
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15 yeas
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Maximum Policy Term
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25 years
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Minimum Premium
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Rs 10000
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Minimum Premium
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7500 (female live)
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Minimum Top Up Premimum
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Rs.5000/-
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Benefits
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| Particulars | Description |
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Maturity Benefits
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On Maturity, the Fund Value in respect of regular premium and top up premium, if any, will be paid and the policy will terminate.
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Death Benefits
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On death occurring before the age of 7 years: The death benefit will be the fund value as on date of receipt of intimation of death at the office.On death after the age of 7 years and before the age of 60 years: The benefit payable would be the sum assured less value of partial withdrawals made in the last 24 months prior to the date of death or the fund value as on date of receipt of intimation of death at the Company's office, whichever is higher. On death of the life assured on or after attaining the age of 60 years: The benefit payable would be the sum assured less value of partial withdrawals made, within 24 months before attaining age 60 years and all partial withdrawals made after attaining age 60 years or the fund value as on the date of receipt of intimation of death at the office, whichever is higher.If three years regular premium has not been paid and the policy has lapsed, fund value as on date of receipt of intimation of death at the Company's office will be paid on death of the life assured.The policy will terminate upon payment of death benefit.
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Surrender Benefit
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The surrender value of the policy will be equal to the fund value less surrender charge, if any. Anytime after three years from the date of commencement of the policy, you have the option to avail of surrender benefit by complete surrender of units.The policy will terminate upon payment of surrender value.
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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UL Accidental Death Benefit [116A013V01]
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UL Accident Permanent Total/Partial Disablity Benefit [116A014V01]
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UL Critical Illness Benefit [116A015V01]
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UL Family Income Benefit [116A018V01]
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UL Waiver of Permium Benefit [116A019V01]
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UL Hospital Cash Benefit [116A016V01]
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The Company aims to value the Funds on each day the financial markets are open. However, the Company reserves the right to value less frequently in extreme circumstances, where the value of the assets may be too uncertain. In such circumstances, the Company may defer valuation of assets until a certainty on the value of assets is resumed. The deferment of valuation of assets will be subject to prior consultation with IRDA.Currently, the cut-off time is 3.00 p.m. for applicability of Unit Price of a particular day for switches, redemptions and publication of Unit Price.
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We offer you the flexibility to pay unlimited top up premiums at any time provided all due regular premiums have been paid.The amount of top up premium paid shall determine the top up sum assured. At the time of making any payment of top up premium, you may in writing choose the level of top up sum assured from amongst the available choice, which is between 1.25 times to 5 times of the top up premium paid, (the default choice always being 1.25 times the Top Up Premium paid).You may also choose to have no risk cover for top up premium paid in which case the top up sum assured will be equivalent to the amount of top up premium paid, provided the total amount of top up premiums paid or proposed to be paid does not exceed 25% of the regular premium paid till date.If, at any time, the total amount of top up premiums paid or proposed to be paid exceeds 25% of the regular premium paid till date, the top up sum assured will be between 1.25 times and5 times (as notified by you in writing to the us) of the portion of top up premium exceeding 25% of total regular premium paid till date. We may ask you to undergo any medical examination to verify your health.The minimum top up premium payable is Rs. 5,000, subject to our right to increase this minimum amount from time to time subject to prior approval from IRDA.There would be a 3-years lock in period on the top up premium except for the top up premium paid in the last three years of the contract. The lock-in on top up premium shall apply from thedate of payment of each top-up premium.
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You can choose to invest fully in any one fund or allocate your premiums into the various funds in a proportion that suits your investment needs. The proportion of allocated premium to anyfund must be at least 5%. At any policy anniversary, you also have the flexibility to change the proportion of future premiums to the funds. The maximum allocation to Liquid fund will notexceed 20% of the allocated premium.Depending on the performance of funds, you can switch units between funds with three free switches every policy year, subject to a minimum switching amount of Rs. 5,000 or the value of units, whichever is lower. Switching of units under lapsed policies shall not be allowed.
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You have option to increase the regular premium amountat any policy anniversary after three policy years, provided all due regular premiums have been paid. An increase in regular premium will automatically result in increase of sum assured such that the relationship between the regular premium and the sum assured before exercising the option of increasing regular premium is maintained.
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Plan your maturity proceeds by exercising the Settlement Option with us. This facilitates you to receive your maturity proceeds in equal installments (payable yearly, half yearly, quarterly ormonthly, at your option) spread over a maximum period of 5 years.The amount paid out in each installment will be the outstanding fund value at that date divided by the number of outstanding installments. No risk cover will be available during the settlement period. The company however will deduct all the charges (except the mortality charge and rider premium charge, if any). No partial withdrawals or switches are allowed during the settlement period. The policy will terminate on expiry of settlement period.
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Bajaj Allianz Life Insurance plan keeps you in line with changing trends and new horizons.Presenting an investment plan that provides the best returns possible for every rupee you invest. The plan is structured to provide a secure life cover and extraordinary benefits aligned with our commitment to give you æthe ultimate investment plan.
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The following additional rider benefits in the form of rider can be availed at the option of the policyholder.Accidental Death Benefit Rider (ADB)Accidental Permanent Total/ Partial Disability Benefit Rider (APT/PDB)Critical Illness Benefit Rider (CI)Hospital Cash Benefit Rider (HCB)Waiver of Premium Benefit (WOP)Family Income Benefit (FIB)
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Accelerator Mid Cap Fund
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Bond Fund
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Equity Growth Fund
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Equity Index Fund II
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Liquid Fund
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Particulars
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Range
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Accelerator Mid Cap Fund
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Bank Deposits & Money Market Instruments
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0% - 20%
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Equities
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80% - 100%
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Bond Fund
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Money Market Instruments
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0% - 20%
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G-Secs, Bonds & Fixed Deposits
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80% - 100%
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Equity Growth Fund
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Bank Deposits & Money Market Instruments
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0% - 20%
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Equities
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80% - 100%
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Equity Index Fund II
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Bank Deposits & Money Market Instruments
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0% - 15%
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Equities
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85% - 100%
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Liquid Fund
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Money Market Instruments
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0% - 100%
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Accelerator Mid Cap Fund
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23-May-13
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19.9116
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Bond Fund
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23-May-13
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18.8402
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Equity Growth Fund
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23-May-13
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18.9536
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Equity Index Fund II
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23-May-13
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19.0616
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Liquid Fund
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23-May-13
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17.6877
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Accelerator Mid Cap Fund
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Bond Fund
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Equity Growth Fund
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Equity Index Fund II
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Liquid Fund
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03-Jul-09
10:49
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Bajaj Allianz has invested Rs 50 cr SKS Microfinance
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16-Jun-09
10:59
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Bajaj Allianz Life has launched Invest Plus
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21-May-09
11:46
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Bajaj Allianz Life Insurance posted profit of Rs 45 Cr in FY09
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13-May-09
12:59
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Bajaj Allianz Life launched ULIP plan
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21-Apr-09
10:41
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Allianz expands India presence into asset management
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11-Apr-09
10:45
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Policies for women : Bajaj Allianz
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31-Mar-09
09:46
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Bajaj Allianz to insure all Volkswagen vehicles
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17-Feb-09
16:20
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Bajaj Allianz launches CenturyPlus II
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20-Jan-09
12:50
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Private insurers see market share rise to 62%
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16-Jan-09
16:20
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Bajaj Allianz Life Insurance GWP is Rs 6726cr
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17-Dec-08
14:15
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Equity-based Ulips outdo indices
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13-Dec-08
11:20
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Allianz sees bright future for its Asian operations
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21-Nov-08
09:56
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Bajaj Allianz to infuse Rs.300 Cr
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30-Aug-08
10:12
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Vijender Singh snapped up by Bajaj Allianz Life Insurance
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22-Aug-08
17:00
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Bajaj Allianz Life Insurance is going in for a rejig
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18-Aug-08
11:40
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Bajaj Allianz Introducing Bajaj Allianz Fortune Plus
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