|Entry Age (years)|
|Maximum Maturity Age (years)||65|
|Policy Term (years)|
|Sum Assured (Rs)|
|Minimum Premium (Rs)|
|Premium Payment Frequency||Single, Yearly, Half-Yearly|
|Premium Payment Term||
Depends on the Package opted by the insured member:
Economy: Regular and Single Premium Payment
Protect: Regular Premium Payment
Health: Regular Premium Payment
Total: Regular Premium Payment
|Policy Cover||Cover remains same throughout the policy term|
|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 within specific years (as mentioned in policy document) 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. Critical illness Bnenefit and Hospital Cash Benefit will be eligible for tax exemption under section 80D od Income Tax Act.|
|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.|
|Maturity Value||Return of basic premium paid less rider premiumr or any extra premiums paid.|
|Surrender Value||Allowed if initial three years premiums were paid on time.|
Bajaj Allianz Life Insurance Company Limited,
G.E. Plaza, Airport Road, Yerawada, Pune - 411 006.
|Call On||BSNL/ MTNL: 1800 22 5858; Others: 1800 209 5858|
|SMS||LIFE to 56070|
|Additions to the Plan|
Accidental Death Benefit: It covers death due to accident. It pays a benefit of double the basic Sum Assured subject to the maximum limit of Rs 10 lakh.
Accidental Permanent Total/ Partial Disability Benefit: it covers Accidental Permanent Partial Disability for which it pays 50% of Sum Assured subject to a maximum of Rs 5 lakh under all policies with Bajaj Allianz taken together. It also covers Accidental Permanent Total Disability for which it pays 100% of Sum Assured subject to a maximum of Rs 10 lakh under all policies with Bajaj Allianz taken together.
Waiver of Premium: It waives off all future premium in case the insured person becomes totally disable due to an accident.
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.
Hospital Cash Benefit: hospital bills (room charges) after a waiting period of 60 days from the date of buying the policy or reinstatement.
|Sum Assured (Rs)|
|Minimum||Critical illness Benenfit and Hospital Cash bnenefit: 50000|
|Maximum||Accidental death benefit: 10 lakh; Hospital Cash Benefit: 2.5 lakh|
|Rider Premium (Rs)||Rider premiums vary for each policyholder depending on policyholder's age, health condition, lifestyle, Sum Assured and Policy Term.|