Minimum Premium (Rs)
Yearly
1200
Half-Yearly
612
Quarterly
312
Monthly
108
Single
5000
Premium Payment Frequency
Single, Yearly, Half-Yearly, Quarterly, Monthly
Premium Payment Term
Single, equal to Policy term
Policy Cover
Cover keeps increasing @5% every year upto maximum of twice the initial basic Sum Assured.
Other Features
Free Look Cancellation
In case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered.
Grace Period
You are allowed to pay premiums within 30 days from the due date for Yearly, Half yearly and quarterly premium payment modes and 15 days in case of monthly premium payment mode.. If a due premium is not received within the grace period, your policy will lapse and the life insurance cover will be terminated.
Lapsed Policy Reinstatement
You can reinstate your lapsed policy any time (within 2 years from the due date of the first unpaid premium) by paying all the due premiums with interest and undergoing underwriting requirements, if any.
Tax Benefits
Section 80C, 10(10D) of the Income Tax Act, 1961 would apply.
Exclusions
In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable.
Surrender Value
Allowed under Single Premium Policcies only. It is calculated as: 0.70*(Policy term-elapsed policy years)/Policy term*Single Premium
Customer Service
Bajaj Allianz Life Insurance Company Limited,
G.E. Plaza, Airport Road, Yerawada, Pune - 411 006.
Customer Service
Call On
BSNL/ MTNL: 1800 22 5858; Others: 1800 209 5858
SMS
LIFE to 56070
Available Rider(s)
Bajaj Allianz Comprehensive Accidental Protection Benefit (CAP): Death due to accident within 180 days of the accident.
Permanent total/ partial disability as a result of an accident within 180 days of the accident. The rider Sum Assured can be received as a 10 year annuity as well. The annuity payable would be 110% of the benefit.
Waiver of Premium in case of total permanent disability.
Bajaj Allianz Critical Illness Benefit: It covers 11 critical illnesses namely: First Heart Attack, Coronary Artery Disease requiring surgery, Stroke, Cancer, Kidney Failure, Major organ transplantation, Multiple Sclerosis, Aorta Graft Surgery, Primary Pulmonary Arterial Hypertension, Alzheimer's Disease and Paralysis. There is a waiting period of 6 months from inception of the policy to claim the critical illness benefit.
Bajaj Allianz Hospital Cash Benefit: hospital bills (room charges) after a waiting period of 60 days from the inception date.
Sum Assured (Rs)
Minimum
Critical illness Benefit: 50000 and Bajaj Allianz Hospital Cash Benefit rider200 per day
Maximum
Accidental Death Benefit:: 50 lakh
Accidental Permanent Total Disability: 50 lakh
Accidental Permanent Partial Disability: 25 lakh
Hospital Cash Bnefit: 1000 per day
