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Bajaj Allianz Life Insurance Company Limited

Incorporated in 2001, Bajaj Allianz Life Insurance is joint venture between Allianz SE-Germanys financial services provider and Bajaj Finserv- Indias financial service provider. Bajaj Finserv holds 74% equity stake while Allianz SE has 26% stake in the venture. Product Portfolio of Bajaj Allianz Life Insurance: Bajaj Allianz has many plans in its product portfolio which comprises of retirement plans, child plan, term plans, savings & investment plans and health plans. Retirement Plan: With rising inflation, its absolutely necessary to make provisions for the future which makes retirement plan an important financial decision. Better known as Pension plan, this plan takes care of financial needs after retirement by investing a part of your savings for limited period. Pension plan provides steady income after retirement and takes care of daily needs. The pension plans offered by Bajaj Allianz are Pension Guarantee and Swarna Vishranti. Child Plan: Parenthood brings responsibilities and no one is better judge of that than you. Child Plan is a plan specifically designed to take care of financial needs of your child. Child plan provides with necessary funds that will take care of childs education, marriage etc. By investing small portion of your savings you secure the financial end of your child. Child plan of Bajaj Allianz is called Child Gain. Term Plan: A risk plan which provides comprehensive cover for your family in the unfortunate event of untimely demise. A term life insurance plan provides good cover at relatively nominal cost and has no survival benefits. Bajaj Allianz term plans are New Risk Care II, Protector, Term Care and iSecure More. Investment Plan: Popularly known as ULIP, an investment plan invests part of your savings in equity or debt market as per your preference. The objective of investment plan is to give you returns which easily beat the rising costs since the usual returns in a bank are extremely low. ULIPs offered by Bajaj Allianz are Assured Protection Insurance Plan, Max Advantage Insurance Plan,iGain III, Wealth Insurance Plan, Shield Insurance, Invest Gain, SaveCare Economy SP, Life Time Care, Super Saver, Cash Gain. Health Plan: Slightly different from health insurance, health plan provides cover for surgery costs, critical illness. A lump sum is paid irrespective of actual hospital bill. Health Care and Family Care First are Bajaj Allianz health plans. Distribution Network: Currently, Bajaj Allianz Life Insurance has presence in more than 550 locations with over 60,000 Insurance Consultants. Bajaj Allianz products like iGain III, Max Advantage Insurance Plan, Wealth Insurance Plan and Shield Insurance Plan are also available online. Financial Information:

The total premium earned for the half year ended September 30, 2010 was Rs 41,506 million. The profit after tax for the same period is Rs 218 million. A total of 9,740 claims were made during the period out of which 6,778 claims were settled and 414 cases were rejected. Marketing Campaigns: Bajaj Allianz signed up Olympic medalist Vijender Singh in their ad campaign. The television commercial revolves around the theme of Jiyo Befikar to put across the message of Bajaj Allianz of leading a care free life. Management: Kamesh Goyal is the MD & CEO of Bajaj Allianz Life Insurance. Rajesh Viswanathan is the CFO of Bajaj Allianz Life Insurance. Sashi Krishnan is the CIO of Bajaj Allianz Life Insurance. Anil Singh is the Appointed Actuary of Bajaj Allianz Life Insurance. Reach Bajaj Allianz: Email: life@bajajallianz.co.in
Telephone: 1800-233-3355 (Toll Free) Bajaj Allianz Product Table:

Retirement/Pension Plan Retirement/Pension Plan Child Plan Term Plan Term Plan Term Plan Savings & Investment Plan Savings & Investment Plan Savings & Investment Plan Savings & Investment Plan

Swarna Vishranti Pension Guarantee Child Gain New Risk Care II Term Care Protector Assured Protection Insurance Plan Max Advantage Insurance Plan iGain II Wealth Insurance Plan

Savings & Investment Plan Savings & Investment Plan Savings & Investment Plan Savings & Investment Plan Savings & Investment Plan Savings & Investment Plan Health Plan Health Plan

Shield Insurance Invest Gain SaveCare Economy SP Life Time Care Super Saver Cash Gain Health Care Family Care First

Bajaj Allianz Life Assure

This plan is a latest addition to ULIP portfolio of Bajaj Allianz. It comes in two variants- Bajaj Allianz Life Assure- Sure and Bajaj Allianz Life Assure- More. The plan allows you to add riders to increase financial security. There is also flexibility to add lump sum amount in the policy. Decrease of premium is also allowed. All in all, Bajaj Allianz Life Assure is loaded with many features.

Plan Parameters: Minimum Age at Entry: 1 year Maximum Age at Entry: 65 years Maximum Maturity Age: 75 years Policy Term: 10 years, 15 years, 20 years Premium Payment Term: 5, 10, 15, 20 years Premium Payment Frequency: Yearly, Half Yearly, Quarterly, Monthly Minimum Premium Amount: Rs 10,000 (yearly) Sum Assured: 7 times annual premium to 20 times annual premium (subject to underwriting)

Death Benefit: Single Life Policy: On death of life insured, the amount payable would be equal to Sum Assured and fund value. Joint Life Policy: On death of primary life assured: Death Benefit Dies 1st Primary Life Assured Sum Assured is paid. Policy is transferred to spouse Spouse Sum Assured is paid. Policy continues. Maturity Benefit: Variant: Bajaj Allianz Life Assure plan- Sure Higher of guaranteed maturity value or regular premium fund value. Guaranteed maturity value is equivalent to base regular premiums paid (deducted by relevant charges) accumulating at 3% per annum compounding monthly till the maturity date. Variant: Bajaj Allianz Assure Plan- More The fund value as on maturity date will be payable. Funds Available: There is just 1 fund available with Bajaj Allianz Life Assure Plan- Sure. Assured Return Fund: This is a moderate risk fund. The portfolio allocation is in equity, debt, mutual funds and money market instruments. There are total of 7 funds available with the other variant Bajaj Allianz Life Assure-More. These are: Equity Growth Fund II- This is a high risk high return fund. The indicative portfolio allocation towards equity is 60% or more and rest of allocation will be directed towards money market instruments. Accelerator mid-Cap Fund II- - This is a high risk high return fund. The portfolio allocation towards equity is 60% or more and rest of allocation will be directed towards bank deposits and money market instruments. Pure Stock Fund: - This is a high risk high return fund. The portfolio allocation towards equity is 60% or more and rest of allocation will be directed towards money market instruments. Stocks belong to Dies 2nd Sum Assured is paid along with fund value. Policy terminates. Sum Assured and fund value is paid. Policy terminates

gambling, contests, liquor, entertainment, hotels, banks; financial institutions are excluded in this fund. Asset Allocation Fund: - This is a high risk high return fund. The portfolio allocation towards both equity and money market instruments can be from 0%-100%. Bluechip Equity Fund: - This is a high risk high return fund. The portfolio allocation towards equity is 60% or more and rest of allocation will be directed towards bank deposits and money market instruments. Equities forming part of NSE NIFTY are chosen for this fund. Bond Fund: - This is a moderate risk fund. The portfolio allocation is in G-Secs, Fixed Deposits and Money Market instruments. Liquid Fund: - This is a low risk fund. The portfolio allocation is in bank deposits and money market instruments. The allocation mentioned above is only indicative and change can be made depending on market conditions. Riders Available: - Bajaj Allianz Extra Cover Benefit Rider - Bajaj Allianz Super Premium Waiver Benefit Rider - Bajaj Allianz Accelerated Critical Illness Benefit Rider Other Benefits: Top-Up Premium: You can also add lump sum amount in form of top-up premium. This addition can be done anytime except in the last 5 years. The minimum amount to be added is Rs 5,000. When you top-up policy, you get additional Sum Assured too. Premium allocation charge of 2% of top up amount will also be deducted. Option to decrease Sum Assured: The opted Sum Assured can be decreased at any policy anniversary. If you have made top-up, its Sum Assured can also be decreased. Settlement Option: In case you do not want to receive final maturity value in lump sum, you can choose settlement option. This benefit will pay put the final maturity amount in installments over the period of next 5 years. Switching between variants: Switch is only allowed if it is from Bajaj Allianz Life Assure Sure to Bajaj Allianz Life Assure More. Applicable Charges: Premium Allocation Charges:

Year 1 2-5 6 onwards

Premium Allocation Charge 20% 4% Nil

Policy Administration Charges: There are no policy administration charges for the first 5 policy years. th From 6 policy year onwards, Rs 10 per month will be deducted which will inflate at 5% per annum. These charges are deducted directly by cancellation of units. Guarantee Charge: 2% of base regular premium for Bajaj Allianz Assure Plan-Sure. Fund Management Charge: The annual fund management charge ranges from 0.95% to 1.35% as per the fund chosen. These charges are adjusted against units. Mortality Charge: These are charges deducted as a part of life cover provided and are recovered through cancellation of units. Cancellation or Surrender: The plan can be cancelled within 15 days of receipt of policy documents. Within this period, you can visit branch with policy documents and letter of cancellation. After the request is received and processed, the amount will be paid back within few days after deduction of nominal charges. Surrender after 15 days: Year of surrender 1 Annual Premium up to Rs 25000 Annual Premium above Rs 25000

20% of lower of regular premium 6% of lower of regular premium or or fund value subject to maximum fund value subject to maximum of of Rs 3,000 Rs 3,000

15% of lower of regular premium 4% of lower of regular premium or or fund value subject to maximum fund value subject to maximum of of Rs 3,000 Rs 3,000

10% of lower of regular premium 3% of lower of regular premium or or fund value subject to maximum fund value subject to maximum of of Rs 3,000 Rs 3,000

5% of lower of regular premium or 2% of lower of regular premium or fund value subject to maximum of fund value subject to maximum of Rs 3,000 Rs 3,000 Nil

5 and above

Nil

Due to mandatory lock in period of 5 years, the cancelled due amount will only be paid after 5 years. Tax Benefits: Under section 80C of the Income Tax Act, premium amount paid is eligible for tax deductions up to maximum of Rs 100,000. The final maturity amount is tax free under Section 10 (10D). In case of death of insured, the amount payable is also tax free. Tax laws are subject to change, kindly verify before investing. Last words on Bajaj Allianz Life Assure: Bajaj Allianz Life Assure comes with plenty of benefits and features. Joint life option is not offered by many plans but is available with this plan. Then there are other features like top-ups, riders, flexible Sum Assured etc. However the charges are bit on higher side. At a time when insurance companies have gone as far as waiving off allocation charges, Bajaj Allianz Life Assure allocation charges tend to be on higher side which makes it far less lucrative option.

Bajaj Allianz Car Insurance Car insurance helps protects against financial losses that can incur due to damage or theft of vehicle. A third party cover will only protect financially against third party losses. In comparison, a comprehensive car insurance policy not only protects against third party damage but also damage caused due to accident as well as total loss of vehicle. Bajaj Allianz offers comprehensive policy in three variants- Best Value, Standard and Flexible. Among these three variants, flexible is the most comprehensive cover. Bajaj Allianz car insurance can be bought and renewed online. Basic Coverage: Bajaj Allianz car insurance broadly covers the following: Damage or loss of car caused due to calamities: The damage to car due to natural disasters as well as man-made disasters are covered. Personal Accident Cover: Cover up to Rs 2 lacs is inbuilt in comprehensive car insurance policy. Third Party Legal liability: Any injury to third party or damage to third property is covered under this. Bajaj Allianz Car Insurance Options: The coverage for best value and standard include Own damage premium, third party liability, personal accident cover, roadside assistance. Depreciation shield and Engine Protector are additional coverage included in Flexible variant. The optional coverage which can be added is cover for electronic accessories, non-electronic accessories, and personal accident cover for co-passenger, CNG kit coverage, driver cover. One can opt for voluntary deductible with best value and flexible variant.

Roadside Assistance: Bajaj Allianz offers roadside assistance with all variants of comprehensive car insurance. A dedicated spot assistance number is available which can be used by owner or driver for any road side emergencies. No Claim Bonus offered by Bajaj Allianz Car Insurance Discount is offered on OD premium by Bajaj Allianz for claim free years. This discount is valid only if car insurance remains active without any break. The discount table is given below: Year No claim during preceding year No claim during preceding 2 years No claim during preceding 3 years No claim during preceding 4 years No claim during preceding 5 years Making Claim: It is very important to notify the insurance company as soon as possible in case of claims. Bajaj Allianz car insurance can be reached at the following numbers: Toll free- 1800 22 5858 (BSNL/MTNL Users) 1800 102 5858 (Airtel) Alternatively, SMS can also be sent with Motor Claim keywords to 9860685858 If vehicle is taken to Bajaj Allianz Preferred Workshop, payment will be made directly to the workshop by insurer. If you take vehicle to any other workshop, you can apply for reimbursement. You will need to submit bills and other required documents. The documents required in case of theft and third party damage will be more. Discount on OD premium 20% 25% 35% 45% 50%

Bajaj Allianz iSecure Insurance Plan


Plan Name: iSecure Insurer: Bajaj Allianz Life Insurance Category: Term Life Insurance Plan Objective: Financial Protection of family iSecure is the latest addition in the online term insurance segment. iSecure offers financial protection to the dependents in case of untimely demise. You pay relatively small premium to the insurer for the

comprehensive cover and get your family secured. If policyholder passes away, Sum Assured will be given to the nominee. Since iSecure is a pure risk plan, there are no survival benefits. Who can buy iSecure Plan? iSecure term life insurance plan is for any individual who is at least 18 years or below 60 years. iSecure policy term is minimum of 10 years and maximum of 30 years. So if you are 50 years old the maximum term you can opt for is 20 years. That is because iSecure plan maturity age cannot exceed 70 years. How Much Cover: The minimum Sum Assured is Rs 2.5 lacs. iSecure allows you to take as much high cover as you want. However you have to meet underwriters requirement to get the cover you want, which depends on your annual salary, age etc. So how much cover should you get? Rule of Thumb: The typical cover should be ten times your annual income. Summarized Table: Entry Age Maturity Age Sum Assured Policy Term Premium Pay Term Premium Frequency 18 years-60 years Maximum 70 years 250,000-unlimited( subject to underwriting) 10, 15, 20, 25, 30 years Same as policy term Monthly, Quarterly, Half Yearly, Yearly

Compare with other term plans now!


What do I get? Death Benefit: Individual Life: The predetermined Sum Assured is paid to the beneficiary who could be your parents, wife, son or daughter. The policy should be active to receive the benefit. Joint Life: On death of either of the life covered, the Sum Assured relevant to the deceased life will be paid. The policy will continue and cover the surviving person. If the surviving member also passes away, the Sum Assured will be paid and policy will terminate.

Tax Benefits: Section 80C, 10 (10D) of the Income Tax Act, 1961 are applicable. Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income. Under Section 10(10D) death claim is completely tax free. The following example will make the plan crystal clear. Illustration: Mr. Chawla is 35 years old with wife and 2 kids. His yearly salary is Rs 6 lacs and makes savings of one lac per year. Suppose he dies after 5 years, he will have left paltry 5 lacs to his dependents. Under same scenario, he buys Bajaj Allianz iSecure with Sum Assured equal to Rs 50 lacs and policy term of 25 years. He would have to pay a paltry premium of Rs 9,240. With just around Rs 9250 yearly, you can get sum assured of 50 lacs which will financially secure your family. Additionally most of the savings stay intact. Your family gets = Rs 50 lacs (Sum Assured) + 4-5lacs (Your Savings) Consider these Scenarios: Scenario1: Mr. Chawla dies in the 4 policy year- his family will get 50 lacs. Same is true for all policy years. Scenario 2: Policy is in grace period and he dies, Sum Assured minus renewal premium will be paid. Scenario 3: Policy lapses on the 22nd year, life insured dies, nothing will be paid. If policy lapses, there is option to revive it within 30 days from date of renewal. What Else? How to buy: iSecure plan can be bought online. Buying Online is very easy and hassle free process. Free Look Period: iSecure plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports. Grace period: iSecure can be paid within 30 days from the date of renewal (15 days for monthly modes). Policy terms will remain unchanged during grace period. However in case of death during grace period, renewal premium will be deducted from Sum Assured payable. After 30 days, if the renewal premium is not paid the policy will cease to exist.
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Reinstatement- iSecure can be revived within 2 years from the premium due date. However all outstanding premiums are to be paid. Maturity: There are no maturity benefits in Bajaj Allianz iSecure as its a pure term life insurance plan. Payment Method: Net banking, credit/debit card are accepted by Bajaj Allianz. Exclusion: During the first policy year or the year of reinstatement of policy, if policyholder commits suicide then Sum Assured will not be paid. Death Claim: The nominee can request for the death claim (Sum Assured) after filling claim forms along with submitting list of documents which will prove authenticity of the claim. Policybazaar take on Bajaj Allianz iSecure:

iSecure is Bajaj Allianz first online term insurance plan. It provides many options to customers. There is the option to buy policy on individual as well as joint life basis. By paying nominal additional amount, you can add riders- Bajaj Allianz comprehensive accidental protection benefit, critical illness benefit, hospital cash benefit. You can also opt for taking death benefit in annual installments instead of lump sum.

Bajaj Allianz Term Plans


A term insurance plan is a life insurance plan providing risk coverage. The risk coverage is for eventuality of death. Term insurance plans covers individual life with financial amount; that amount becomes payable on death of life insured. You can get high cover at very affordable premium as term plan is cheapest among all life insurance plans. Bajaj Allianz is one of the first private players in the insurance domain. Bajaj Allianz life insurance has the following term plans: iSecure Insurance Plan: This plan can be purchased online. Anyone aged from 18 years to 60 years can buy iSecure. The minimum Sum Assured is Rs 250,000. The policy terms available are 10, 15, 20, 25 and 30 years. You can add the following riders- comprehensive accidental protection benefit, critical illness benefit and hospital cash benefit. You can opt for join life cover and death benefit will be payable on death of each life.

Term Care: This is a return of premium term insurance plan. Anyone aged from 18 years to 50 years can but the plan. The policy term available is from 5 years to 40 years. The Sum Assured ranges from Rs 1 lacs to Rs 10 lacs. This plan has following variants: Economy: Base package with just life cover Protect: Life cover+ accidental death benefit+ accidental permanent disability+ waiver of premium (accidental) Health: life cover+ critical illness+ hospital cash Total: life cover+ accidental death benefit+ accidental permanent disability+ waiver of premium (accidental) + critical illness+ hospital cash There are also combinations of riders which you can add with economy pack if you want to. New Risk Care II: This is a single premium term insurance plan. Anyone aged from 18 years to 60 years can buy this plan. The Sum Assured begins from Rs 2 lacs and there is no cap on maximum Sum Assured. The policy term is from 5 years to 40 years. You can add the following riders- comprehensive accident protection, critical illness benefit, hospital cash benefit rider.

Protector: This is a term insurance plan that provides cover for outstanding loan amount. Anyone aged between 20 years to 55 years can buy Protector plan. The policy term available is from 5 years to 30 years. In case of 2 applicants under the plan, you can opt for joint life term plan.

Term Plan Insurance: LIC Amulya Jeevan vis--vis Bajaj Allianz New Risk Care II Plan
A term insurance plan is a pure life cover which pays lump sum amount (Sum Assured) on the death of life insured. Amulya Jeevan is the term insurance plan of Life Insurance Corporation of India. New Risk Care II plan is the term insurance plan of Bajaj Allianz. Age Eligibility: For LIC Amulya Jeevan, person aged between 18 years to 60 years can buy the term insurance plan. Amulya Jeevan plan maximum maturity age is 70 years. For Bajaj Allianz New Risk Care II, person aged between 18 years to 60 years can buy the term insurance plan. Bajaj Allianz New Risk Care II term plan maximum maturity age is 65 years. Life Cover: The minimum life cover that can be opted with LIC Amulya Jeevan is Rs 25 lacs and for Bajaj Allianz New Risk Care II, minimum cover is Rs 2 lacs. The maximum cover in LIC Amulya Jeevan and Bajaj Allianz New Risk Care II is very high and can be opted as long as it is approved by insurers underwriter. The underwriter decides life cover on basis of age, annual salary, medical condition etc.

Policy Term: The policy term for Amulya Jeevan is from 5 years to 35 years. The policy term available with Bajaj Allianz New Risk Care II plan is from 5 years to 40 years. Riders: There are no riders available with LIC Amulya Jeevan. Bajaj Allianz New Risk Care II term plan has Comprehensive accident protection, critical illness and hospital cash benefit rider. Premium Comparison: The premium payment frequency available with Bajaj Allianz New Risk Care II is single premium only. Single premium payment frequency is not available with LIC Amulya Jeevan and as such premium comparison is not possible. Reinstatement: On policy lapse, LIC Amulya Jeevan can be reinstated within 5 years and Bajaj Allianz New Risk Care II plan can be reinstated within 2 years from the date of unpaid premium. All the due premiums have to be paid and medical tests might be taken again. Claim Settlement Ratio: CSR is the claim settlement ratio. Claim settlement data has been taken for all the death claims made with the insurer and not for a particular policy. Claim settlement ratio is calculated by the formulaclaim settled/total claims. For the period Q2, 2011, the claim settlement ratio of Life Insurance Corporation of India is 77% whereas for Bajaj Allianz, claim settlement ratio is 74%. End Note: LIC Amulya Jeevan is a good plan which has minimum life cover of Rs 25 lacs and has long policy terms available. Bajaj Allianz New Risk Care II is a good term insurance plans which is suitable for individuals looking for particular Sum Assured. Riders can be added with Bajaj Allianz New Risk Care II plans by paying additional premium to increase financial security. However you can opt for single premium payment option only with New Risk Care II.

Bajaj Allianz Lifetime Care Review


Plan Name: Lifetime Care Insurer: Bajaj Allianz Life Insurance Category: Traditional Plan

Objective: Financial protection of family and returns on investment Life Time Care is an endowment plan which is available in the following variants: - Economy: base package - Protect: accidental death benefit, premium benefit is included. accidental permanent total/partial disability benefit, waiver of

- Health: critical illness and hospital cash cover included - Total: this pack has all the above mentioned riders.

Major USP of Bajaj Allianz Lifetime Care - Different Variants to choose from -Bonuses -Discounts -Riders available -Loan facility Eligibility of Bajaj Allianz Lifetime Care Minimum Entry Age: 15 Years Maximum Entry Age: 60 Years Maximum Age at Maturity: 80 Years Minimum Premium Payment Term: 10 Years Minimum Premium: Rs 1,500 per annum Premium Payment Mode: Yearly, Half Yearly or Monthly What benefits does Bajaj Allianz Lifetime Care offer? Death benefit: In case of unfortunate death of the life insured, Sum Assured along with bonuses will be paid. Maturity Benefit: At the end of policy term, Sum Assured with bonuses will be paid. Riders: You can opt for the following riders with the plan- Family Income Benefit, Comprehensive Accident Protection, Critical Illness and Hospital Cash.

Increase Sum Assured: On occurrence of particular events like marriage, birth of children etc, you can also increase the Sum Assured. Discount: For large Sum Assured, discount on premium will be made. For female policyholders, further discount will be provided. Loan: Loan facility is available with the policy. Are there any tax benefits? Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income. Under Section 10(10D) death claim is completely tax free. What else should I know about? Surrender Value: You can surrender the policy after three years policy premium have been paid. Free Look Period: Lifetime Care plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Bajaj Allianz Flexi Advantage Review


Plan Name: Flexi Advantage Insurer: Bajaj Allianz Life Insurance Category: Single Premium Unit Linked Insurance Plan Objective: Financial protection of family and good return on investment Major USP of Flexi Advantage Guaranteed Additions Option to decrease Sum Assured

Unlimited free switches Optional Riders Eligibility for Bajaj Allianz Flexi Advantage Minimum Entry Age: 1 Year Maximum Entry Age: 65 Years Minimum Age at Maturity: 18 Years Maximum Age at Maturity: 75 Years Policy Term: 10/15/20/25 Years Premium Paying Term: Single Minimum Premium: Rs 50,000 What benefits does Flexi Advantage offer? Death benefit: In case of death of the life insured, higher of Sum Assured or fund value shall be payable. Maturity Benefit: The fund value as on maturity date is paid to the policyholder. Guaranteed Addition: A certain % of single premium will be added as follows:

At the end of policy year 7 10 15, 20 and 25 Decrease Sum Assured:

% of Single premium 3.00% 3.00% 4.00%

You can decrease Sum Assured if required subject to the minimum cover allowed in the plan. Riders: Riders add more financial security to the base plan. The riders available with Flexi Advantage are: - Accidental Death Benefit Rider - Accidental Permanent/Total/Partial Disability Rider - Critical Illness Rider

- Hospital Cash benefit Rider - Family Income Benefit Rider - Term Rider How is my money invested in Flexi Advantage? Whats the risk? Any ULIPs performance is directly dependent on the performance of the fund which in turn depends upon equity and debt market. If the market is rising, it will automatically reflect on your returns. Bajaj Allianz has seven funds available ranging from conservative to aggressive. If you have higher risk appetite and are for long term you can opt for aggressive fund. On the other hand, if you have limited investment period, you should go for conservative Secure Fund. In a typical scenario, you will be able to get at least 10% return on investment. The investment risk is borne by the policyholder. What will be my returns from Bajaj Flexi Advantage? The important question that customer wants answered is What will be my returns in Bajaj Flexi Advantage plan? Let us take an example: Sanjeev aged 30 invests Rs 1 lacs as a single premium. The policy term is 20 years. He opts for insurance cover of Rs 5 lacs. Assume fund value after four years is Rs 1.3 lacs. Death Benefit: If Sanjeev passes away after four years, his wife will get fund value. Maturity Benefit: He gives in total amount of Rs 100,000 to Bajaj Allianz. At maturity, assuming growth of 10% only, fund value would be approximately Rs 427,869. The maturity amount could be more depending on the money market scenario. Longer terms typically provide good returns. Are there any tax benefits? Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income. Under Section 10(10D) death claim is completely tax free. What charges does Bajaj Allianz Flexi Advantage deduct and how much? Premium Allocation Charges: These charges are deducted as percentage of premium. Insurer deducts these charges on account of expenses incurred by the company medical examination, policy issuance, underwriting bills. Premium allocation charge is 10% of the single premium.

Fund Management Charge: These are the charges levied as a percentage of fund value to manage the funds. The premium paid is allocated into different portfolio of funds. The charges are 1.35% for Equity Growth Fund II, Accelerator Mid-Cap Fund II, Pure Stock Fund; 1.25% for Asset Allocation fund, Equity Index Fund II; 0.95% for Bond Fund and Liquid Fund. Policy Administration Charge: These are monthly deductions by the insurer for maintaining the policypaperwork, work force etc. They are recovered through cancellation of units. Flexi Advantage has no administration charges. Mortality Charge: These are charges deducted as a part of life cover provided and are recovered through cancellation of units. What else should I know about? Top-Up premium: This is the additional premium which can be added above the usual premium to get more units if you think the particular fund is providing good returns. Top-Up can be made after st 1 policy year and not in last 5 policy years. The minimum Top-Up in Flexi Advantage is Rs 5,000. Switch: Switch is made to transfer the fund value from one fund to another. The minimum amount to be switched is Rs 5000. You can make as many switches as you want and are free of cost. Partial Withdrawal: If policyholder is above 18 years, partial withdrawal can be made subject to minimum of Rs 5,000. Free Look Period: Flexi Advantage plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports. Whats Policybazaar opinion on Flexi Advantage? Flexi Advantage is a single premium plan. If you have a lump sum amount to invest, Bajaj Flexi Advantage could be one of your choice as it is loaded with many benefits. You get guaranteed additions along with the growth on your premium amount invested. There are many riders which you can attach to ensure that financial constraints never arise if something happens to you. You can also decrease Sum Assured if required.

Bajaj Allianz SaveCare Review


Plan Name: SaveCare Insurer: Bajaj Allianz Life Insurance

Category: Traditional Plan Objective: Financial protection of family and periodic returns on investment Major USP of Bajaj Allianz SaveCare Loans available Single Premium Policy Eligibility of Bajaj Allianz SaveCare Minimum Entry Age: 0 Years Maximum Entry Age: 60 Years Maximum Age at Maturity: 70 Years Policy Term: 10 Years Minimum Premium: Rs 26,500 per annum Premium Payment Term: Single What benefits does Bajaj Allianz SaveCare offer? Death benefit: In case the Life Assured aged above 7 years passes away during the policy term, the nominee will receive Sum Assured and accrued bonuses. If the life assured is below 7 years of age, higher of surrender value or single premium is paid. Maturity Benefit: On maturity, Sum Assured and accrued bonuses will be provided to the policyholder. Loans: You can apply for loans against the policy. You can get maximum of 90% of the surrender value. Are there any tax benefits? Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income. Under Section 10(10D) death claim is completely tax free. What else should I know about?

Free Look Period: SaveCare plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Bajaj Allianz Term Care Review


Plan Name: Term Care Insurer: Bajaj Allianz Life Insurance Company India Ltd Category: Return of Premium Term Life Insurance Plan Objective: Financial Protection of Family Bajaj Allianz Term Care is return of premium term life insurance plan which provides financial security to your family in case you are not there to look out for them. You get good cover at low cost. If something unfortunate happens to you, Sum Assured is paid to the nominee. If you survive throughout the term, the base premium will be returned at the end of policy term. Single Premium option is also available. There are many variants available with Bajaj Allianz Term Care: (1) Economy: this is the base plan with just the Sum Assured (2) Protect: This is the plan with 3 inbuilt riders- Accidental death benefit, Accidental permanent disability and waiver of premium benefit. (3) Health: This plan comes with critical illness and hospital cash benefit (4) Total: this plan is combination of protect and health with all the applicable riders. Who can buy Term Care? Bajaj Allianz Term Care return of premium term life insurance plan can be bought by anyone who is 18 years old and not more than 50 years. The policy term varies from 5 years to 40 years. In this term insurance plan, the maximum age at policy maturity cannot be more than 65 years. How Much Cover? The minimum cover in Bajaj Allianz Term Care plan is Rs 1 lacs and the maximum is Rs 10 lacs. Issuance of cover is subject to underwriting. What cover should you get? Rule of Thumb: The typical cover should be ten times your annual income. Summarized Table:

Entry Age Maturity Age Sum Assured Policy Term Premium Mode What do I get?

18 years-50 years Maximum 65 years Rs 100,000- Rs 1,000,000 5 years-40 years Yearly, Half Yearly, Quarterly, Monthly

Maturity Benefit: If the life insured survives the policy term, base premium paid is returned. Death Benefit: In the event of life insureds unfortunate demise (during policy term), the sum assured is paid to the nominee (parents, wife or children) if the insurance policy is in force.

Tax Benefits- The premium paid is eligible for tax benefits under Section 80C, 10 (10D) of the Income Tax Act, 1961. Illustration Jaswant aged 30, to secure his family buys return of premium term insurance plan- Term Care with policy term of 25 years. With yearly premium of just Rs 11,292 he gets cover of Rs 10 lacs. Jaswant nominates his wife as the beneficiary of return of premium term insurance plan.

Consider these Scenarios Scenario1: Jaswant dies in the 4th policy year; Jaswants wife will get 10 lacs. This is true for the whole policy term. Scenario 2: Policy is in grace period and Jaswant dies, Sum Assured minus renewal premium will be paid. Scenario 3: Policy lapses on the 22nd year, Jaswant dies, nothing will be paid. However lapsed policy can be revived within 30 days from the date of renewal. Scenario 4: If Jaswant survives the policy term, all base premium would be returned.

Riders

Riders are very useful additional benefits which could be beneficial to the policyholder. They are low priced but their utility is huge. Riders can be added only at the commencement of the term plan or on its anniversary depending upon companys policies. Bajaj Allianz Term Care has the following options:

Combination 1: Accidental Death Benefit; Accidental Permanent Total Disability, Waiver of Premium Benefit. This option can be taken or removed at any policy anniversary.

Combination 2: Critical Illness Benefit; Hospital Cash Benefit. This option can be taken at inception of policy but removed at any policy anniversary. What Else?

How to buy: Contact Policybazaar and we will assist you in buying Term Care return of premium term plan without any issues. Free Look Period: Bajaj Allianz Term Care can be cancelled within 15 days of receiving the policy contract. The policy document can be returned to the nearby branch along with letter of cancellation. The premium will be paid back minus some charges like medical examination, stamp duty. Grace period: Bajaj Allianz Term Care premium can be paid within 30 days from the date of renewal. In case of quarterly and monthly modes payments, grace period is 15 days. However in case of death during grace period; renewal premium will be deducted from Sum Assured payable. After the grace period, if the renewal premium is not paid the policy will cease to exist.

Maturity: Term Care is a return of premium term insurance plan and has survival benefits. Surrender: Term Care term insurance plan can be surrendered after three years policy premium has been paid. Payment Method: Bajaj Allianz Term Care payment method is cash, cheque, credit card/debit card. Exclusion: In term life insurance, death caused by suicide in the first year or within first year of revival, no Sum Assured will be paid. Death Claim: The nominee can apply for the death claim (Sum Assured) after filling claim forms along with submitting list of documents which will prove authenticity of the claim.

Close Competitors Aviva LifeShield Advantage, IDBI Federal Life Termsurance, ICICI Pru LifeGuard, Met Suraksha TROP, Reliance Life Special Term Plan Policybazaar take on Bajaj Allianz Term Care Bajaj Allianz Term Care plan is excellent term life insurance plan that offers different variants to customers. There are very good combination of riders which can be opted and removed if needed. The only restriction is that maximum Sum Assured that can be opted is Rs 10 lacs.

Bajaj Allianz Money Secure Review


Plan Name: Money Secure Insurer: Bajaj Allianz Life Insurance Company Limited Category: Unit Linked Insurance Plan Objective: Financial protection of family and good return on investment Bajaj Allianz Money Secure Plan is a Type I ULIP which means that under the death clause, you are entitled to either Sum Assured or Fund Value whichever is higher. Money Secure assures of minimum maturity amount equivalent to net cash amount accumulated at 3% per annum compounding monthly till maturity date. The base Sum Assured increases automatically from 6th year onwards. The Sum Assured in Money Secure is flexible; you can decrease subject to minimum limits in the policy.You can also change the premium payment term as per your requirement. Benefits of Bajaj Allianz Money Secure Maturity: The fund value is paid on maturity date. Settlement Option: Instead of lump sum amount on maturity, you can choose to receive the amount in installments over the next few years. Riders: The riders pay additional amount on occurrence of an eventuality. Bajaj Allianz Money Secure has the following riders- Accidental Permanent Total/Partial Disability, Critical Illness Benefit Rider, Hospital Cash Benefit Rider, Family Income Benefit Rider, Term Rider and Waiver of Premium Rider. Eligibility for Bajaj Allianz Money Secure

Minimum Entry Age: 3 Years Maximum Entry Age: 65 Years Maximum Age at Maturity: 75 Years Policy Term: 10 and 15 Years Premium Paying Term: 5, 10 and 15 Years Minimum Premium: Rs 7,000 Annual Mode Returns in Bajaj Allianz Money Secure Any ULIPs performance is directly dependent on the performance of the fund which in turn depends upon equity and debt market. If the market is rising, it will automatically reflect on your returns. Bajaj Allianz Money Secure has just one fund- Assured return fund which provides fund value on maturity or guaranteed amount whichever is higher. In a typical scenario, you will be able to get at least 10% return on investment. The investment risk is borne by the policyholder. What charges does Bajaj Allianz Money Secure deduct and how much? The premium amount paid by you is not invested directly. Initially, some charges are deducted and then units of the fund are bought. The rest of charges are deducted by cancellation of the units. Premium Allocation Charges: These charges are deducted as percentage of premium. Insurer deducts these charges on account of expenses incurred by the company medical examination, policy issuance, underwriting bills. Premium allocation charges depend upon the premium amount and vary from 2% to 10%. Fund Management Charge: The annual fund management charge is 1.25%. Guaranteed Charge: 2% of the regular premium paid. Policy Administration Charge: These are monthly deductions which start from first month and are for maintaining the policy- paperwork, work force etc. The charge deductions begin after 5 policy years and are INR 25 per month increasing at 5% per annum. Mortality Charge:These are charges deducted as a part of life cover provided and are recovered through cancellation of units. Are there any tax benefits?

Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income. Under Section 10(10D) death claim is completely tax free. What else should I know about? Top-Up premium: This is the additional premium which can be added above the usual premium to get more units if you think the particular fund is providing good returns. Top-Up can be made after 1stpolicy year and not in last 5 policy years. The minimum Top-Up in Future Protect is Rs 5,000. Partial Withdrawal: If policyholder is above 18 years and the minimum amount is Rs 5,000 and amount of 3 times annual premium has to be maintained. Grace period: Money Secure can be renewed within 30 days from the premium due date. Additional 30 days are given after notice has been sent to revive or discontinue the policy. What to do? To Cancel Policy: Money Secure plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports. If you want to cancel policy after the initial period of 15 days, you can do it but the amount will be paid only after lock in period years. If you cancel policy within 5 years from inception, the amount will grow at interest rate of 3.5% compounded annually. After five years, if you cancel the policy, there will be no cancellation charges and amount will be paid immediately.

Bajaj Allianz Child Gain Review


Plan Name: Child Gain Insurer: Bajaj Allianz Life Insurance Company Limited Category: Traditional Participating Plan Objective: Financially Securing Childs Future Bajaj Allianz Child Gain has 4 variants available with it: Option 1: Child Gain 21 Option 2: Child Gain 21 Plus

Option 3: Child Gain 24 Option 4: Child Gain 24 Plus Major USP of Bajaj Allianz Child Gain 4 Variants to choose from Limited Premium Paying Term Bonus Additions Eligibility of Bajaj Allianz Child Gain Minimum Entry Age: 20 for policyholder, 0 for child Maximum Entry Age: 50 years for policyholder, 13 for child Policy Term: 21-age at entry of child, 24- age at entry of child Minimum Premium: Rs 5,000 Minimum Sum Assured: 5,000,000 What benefits does Bajaj Allianz Child Gain offer? Maturity Benefit: A specific % of Sum Assured is paid when the child turns 18. The payouts continue till the age of 21 or 24 as per the child plan opted.

Death Benefits: In case of death or disability (before age of 65) of life insured, all future premiums will be waived. Also 1% of Sum Assured is paid monthly till the end of policy term. For Child Gain 21 Plus and Child Gain 24 Plus In case of death or disability (before age of 65) of life insured, an additional Sum Assured subject to maximum of Rs 10 lacs will become payable. Bonuses: Compounded Reversionary bonuses and terminal bonus if any shall also be paid with payouts.

Are there any tax benefits? Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income.

Under Section 10(10D) death claim is completely tax free. What else should I know about? Paid up Sum Assured: After three policy years if you are unable to continue policy, you can convert to paid up. The policy will not participate in future performance. On maturity or death, reduced Sum Assured with guaranteed addition and any vested bonuses if any will be paid. Surrender Value: In case you want to cancel Child Gain after 3 years, the minimum guaranteed surrender value will be paid which is equivalent to 30% of all premiums paid barring the first year premium. Free Look Period: Child Gain plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports. Whats Policybazaar opinion on Bajaj Allianz Child Gain? Child Gain is a traditional insurance plan for financially securing childs future. Child Gain comes with different variants which lets you choose the most suitable option. You also get bonus additions. There are no separate riders available.

Bajaj Allianz Life Super CashGain Review


Plan Name: Super CashGain Insurer: Bajaj Allianz Life Insurance Company Limited Category: Traditional Plan Objective: Financial protection of family and periodic returns on investment Major USP of Bajaj Allianz Super CashGain Different Variants Large Sum Assured Rebate Conversion to term plan Riders available Eligibility of Bajaj Allianz Super CashGain

Minimum Entry Age: 0 Years Maximum Entry Age: 65 Years Policy Term: 12, 16, 20 and 24 Years Premium Paying Term: Policy Term 5 years Minimum Premium: Rs 6,500 per annum Minimum Sum Assured: Rs 50,000 What benefits does Bajaj Allianz Super CashGain offer? Death benefit: In case the Life Assured passes away, Sum Assured along with vested bonuses will be paid. Maturity Benefit: Amount equal to 20% of Sum Assured is paid on the respective due dates. On maturity, 40% of Sum Assured will be paid. Bonus: Reversionary bonus, interim bonus and terminal bonus are paid. Conversion: You can convert your Super CashGain into single premium term plan with return of premium. Rebates: If Sum Assured is equal or more than Rs 1 lacs, discount on basic Premium is also given. Riders: The following riders can be availed with Super CashGain: - Bajaj Allianz Supplementary Death Benefit - Bajaj Allianz Comprehensive Accidental Protection Benefit - Bajaj Allianz Family Income Benefit - Bajaj Allianz Critical Illness Benefit - Bajaj Allianz Hospital Cash Benefit Are there any tax benefits? Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income. Under Section 10(10D) death claim is completely tax free.

What else should I know about? Paid up Sum Assured: After three policy years if you are unable to continue policy, you can convert to paid up. The policy will not participate in future performance. On maturity or death, reduced Sum Assured with guaranteed addition and any vested bonuses if any will be paid. Surrender Value: In case you want to cancel Bajaj Allianz Super CashGain plan after 3 years, the minimum guaranteed surrender value will be paid which is equivalent to 30% of all premiums paid barring the first year premium. Free Look Period: Super CashGain plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports. Whats Policybazaar opinion on Bajaj Allianz Super CashGain? Bajaj Allianz Super CashGain is a traditional money back plan with varied features. There are some unusual benefits like the option to convert your concurrent policy into term plan and also choosing among the different variants available. You can opt for riders as well as per your requirement. Bajaj Allianz Child Gain Review Plan Name: Child Gain Insurer: Bajaj Allianz Life Insurance Company Limited Category: Traditional Participating Plan Objective: Financially Securing Childs Future Bajaj Allianz Child Gain has 4 variants available with it: Option 1: Child Gain 21 Option 2: Child Gain 21 Plus Option 3: Child Gain 24 Option 4: Child Gain 24 Plus Major USP of Bajaj Allianz Child Gain 4 Variants to choose from Limited Premium Paying Term Bonus Additions

Eligibility of Bajaj Allianz Child Gain Minimum Entry Age: 20 for policyholder, 0 for child Maximum Entry Age: 50 years for policyholder, 13 for child Policy Term: 21-age at entry of child, 24- age at entry of child Minimum Premium: Rs 5,000 Minimum Sum Assured: 5,000,000 What benefits does Bajaj Allianz Child Gain offer? Maturity Benefit: A specific % of Sum Assured is paid when the child turns 18. The payouts continue till the age of 21 or 24 as per the child plan opted.

Death Benefits: In case of death or disability (before age of 65) of life insured, all future premiums will be waived. Also 1% of Sum Assured is paid monthly till the end of policy term. For Child Gain 21 Plus and Child Gain 24 Plus In case of death or disability (before age of 65) of life insured, an additional Sum Assured subject to maximum of Rs 10 lacs will become payable. Bonuses: Compounded Reversionary bonuses and terminal bonus if any shall also be paid with payouts.

Are there any tax benefits? Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income. Under Section 10(10D) death claim is completely tax free. What else should I know about? Paid up Sum Assured: After three policy years if you are unable to continue policy, you can convert to paid up. The policy will not participate in future performance. On maturity or death, reduced Sum Assured with guaranteed addition and any vested bonuses if any will be paid.

Surrender Value: In case you want to cancel Child Gain after 3 years, the minimum guaranteed surrender value will be paid which is equivalent to 30% of all premiums paid barring the first year premium. Free Look Period: Child Gain plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports. Whats Policybazaar opinion on Bajaj Allianz Child Gain? Child Gain is a traditional insurance plan for financially securing childs future. Child Gain comes with different variants which lets you choose the most suitable option. You also get bonus additions. There are no separate riders available. Bajaj Allianz Life CashRich Review Plan Name: CashRich Insurer: Bajaj Allianz Life Insurance Company Limited Category: Traditional Plan Objective: Financial protection of family and periodic returns on investment Major USP of Bajaj Allianz CashRich Payouts every year Large Sum Assured Rebate Riders available Loans available Eligibility of Bajaj Allianz CashRich Minimum Entry Age: 0 Years Maximum Entry Age: 60 Years Maximum Age at Maturity: 100 Years Policy Term: 10 - 65 Years Premium Paying Term: 5, 10, 15, 20 25 and 30 Years Minimum Premium: Rs 8,000 per annum Minimum Sum Assured: Rs 100,000 What benefits does Bajaj Allianz CashRich offer?

Death benefit: In case the Life Assured passes away, Sum Assured along with vested bonuses will be paid. Maturity Benefit: After premium payment term is over, amount equal to 5% of Sum Assured along with cash bonus are paid every year. On maturity Sum Assured and terminal bonus will be paid. Bonuses: The bonuses are paid every year. Rebates: If Sum Assured is equal or more than Rs 1 lacs, discount on basic Premium is also given. Conversion: You can convert your CashRich into single premium term plan with return of premium. Loans: You can apply for a loan against CashRich policy for a maximum amount of 80% of surrender value. Riders: The following riders can be availed with CashRich: - Bajaj Allianz Supplementary Death Benefit - Bajaj Allianz Comprehensive Accidental Protection Benefit - Bajaj Allianz Family Income Benefit - Bajaj Allianz Critical Illness Benefit - Bajaj Allianz Hospital Cash Benefit Are there any tax benefits? Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income. Under Section 10(10D) death claim is completely tax free. What else should I know about?

Paid up Sum Assured: After three policy years if you are unable to continue policy, you can convert to paid up. The policy will not participate in future performance. On maturity or death, reduced Sum Assured with guaranteed addition and any vested bonuses if any will be paid. Surrender Value: In case you want to cancel Bajaj Allianz CashRich plan after 3 years, the minimum guaranteed surrender value will be paid which is equivalent to 30% of all premiums paid barring the first year premium. Free Look Period: CashRich plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports. Whats Policybazaar opinion on Bajaj Allianz CashRich? Bajaj Allianz CashRich is a very different money back plan. Usually money back plans payout every 3 years or 5 years but CashRich pays every year. Even the bonuses are paid. You can attach riders for additional financial security. You can also apply for loans against the policy. Bajaj Allianz Life Super CashGain Review Plan Name: Super CashGain Insurer: Bajaj Allianz Life Insurance Company Limited Category: Traditional Plan Objective: Financial protection of family and periodic returns on investment Major USP of Bajaj Allianz Super CashGain Different Variants Large Sum Assured Rebate Conversion to term plan Riders available Eligibility of Bajaj Allianz Super CashGain Minimum Entry Age: 0 Years Maximum Entry Age: 65 Years Policy Term: 12, 16, 20 and 24 Years Premium Paying Term: Policy Term 5 years Minimum Premium: Rs 6,500 per annum Minimum Sum Assured: Rs 50,000

What benefits does Bajaj Allianz Super CashGain offer? Death benefit: In case the Life Assured passes away, Sum Assured along with vested bonuses will be paid. Maturity Benefit: Amount equal to 20% of Sum Assured is paid on the respective due dates. On maturity, 40% of Sum Assured will be paid. Bonus: Reversionary bonus, interim bonus and terminal bonus are paid. Conversion: You can convert your Super CashGain into single premium term plan with return of premium. Rebates: If Sum Assured is equal or more than Rs 1 lacs, discount on basic Premium is also given. Riders: The following riders can be availed with Super CashGain: - Bajaj Allianz Supplementary Death Benefit - Bajaj Allianz Comprehensive Accidental Protection Benefit - Bajaj Allianz Family Income Benefit - Bajaj Allianz Critical Illness Benefit - Bajaj Allianz Hospital Cash Benefit Are there any tax benefits? Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income. Under Section 10(10D) death claim is completely tax free. What else should I know about? Paid up Sum Assured: After three policy years if you are unable to continue policy, you can convert to paid up. The policy will not participate in future performance. On maturity or death, reduced Sum Assured with guaranteed addition and any vested bonuses if any will be paid.

Surrender Value: In case you want to cancel Bajaj Allianz Super CashGain plan after 3 years, the minimum guaranteed surrender value will be paid which is equivalent to 30% of all premiums paid barring the first year premium. Free Look Period: Super CashGain plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports. Whats Policybazaar opinion on Bajaj Allianz Super CashGain? Bajaj Allianz Super CashGain is a traditional money back plan with varied features. There are some unusual benefits like the option to convert your concurrent policy into term plan and also choosing among the different variants available. You can opt for riders as well as per your requirement.

Bajaj Allianz iGain III Review

Plan Name: iGain III Insurer: Bajaj Allianz Insurance Company Limited Category: Unit Linked Insurance Plan Objective: Financial protection of family and good return on investment. Major USP of iGain III:

High allocation so more amount gets invested. Flexible insurance cover which can be changed. Flexible premium payment term. Many riders to choose from.

Age eligibility of iGain III

Minimum Entry Age - 1 Years (18 Years in case of Additional Rider Benefits) Maximum Entry Age - 60 Years (50 Years in case of Additional Rider Benefits) Minimum Age at Maturity-18 Years Maximum Age at Maturity 75 Years (Additional riders ceasing Age 65 Years) Policy Term - 10, 15 and 20 Years Premium Options in iGain III

Minimum Regular Premium: For premium paying term 5 to 9 Years: Rs.15000

For premium paying term 10 Years: Rs.10000 Maximum Regular Premium: No Limit Minimum Premium Paying Term- 5 Years Maximum Premium Paying Term- Policy Term Premium Payment Frequency: Yearly, Half-Yearly, Quarterly & Monthly. The monthly mode will be allowed through ECS only. Life Cover in iGain III

Minimum Sum Assured 10 times of Annualized Premium for entry age below 45 years
7 times of Annualized Premium for entry age 45 years & above Maximum Sum Assured- Policy Term times Annualized Premium with base cover only [Only 10 times of Annualized Premium if any Rider has been opted for] What benefits does iGain III offer?

Death benefit:
Option (a) - In case of death before age of 60: If the policyholder passes away before attaining age of 60, the death benefit payable would be higher of Sum Assured minus partial withdrawals made in the last 24 months prior to death or fund value. Option (b) In case of death after age of 60: If the policyholder passes away after attaining of 60, the death benefit payable would be higher of Sum Assured minus partial withdrawals made in the last 24 months prior to death and partial withdrawals made after age of 60 or fund value. In case of accident after the life assured age is above 7, additional Sum Assured is payable. Maturity Benefit: The fund value as on maturity date is paid to the policyholder. Settlement Option: This option allows you to receive the maturity amount in predetermined installments for up to five years after maturity by notifying the company 3 months prior to maturity. The installment amount will depend on the respective fund net asset value on the liquidation date. If the fund value is insufficient (volatile equity market) then all remaining funds will be payable and policy will be terminated. Partial withdrawals and switches are not allowed during this period. Sum Assured: From 6th year onwards, Sum Assured will increase automatically by annual premium. The death benefit and mortality charge will be adjusted accordingly. Sum Assured can also be decreased at policy anniversary to 115% of annual premium subject to minimum Sum Assured allowed under the plan. Flexibility in Premium Payment Term: The time period for which you want to pay premium can be

increased or decreased if the requirements are met. Rider Benefits: Additional security can be opted by adding riders at inception or anniversary of policy to the plan by paying extra nominal premium. The riders available with iGain III are: - Bajaj Allianz Family Income Benefit Rider - Bajaj Allianz Term Rider - Bajaj Allianz Waiver Of Premium Benefit Rider - Bajaj Allianz Critical Illness Benefit Rider - Bajaj Allianz Hospital Cash Benefit Rider - Accidental Permanent/Total Disability Rider How is my money invested in iGain III? Whats the risk?

The premium you pay after the deductions is invested into different funds. The funds have different risk probability- some funds invest in debt market which is safer while some funds invest in equity market which is risky but probability of higher returns is more. There are funds with mixture of equity and debt to balance the risks. There are two options for you to manage investment: Self Managed Investment: If you have time to follow financial markets and manage your funds yourself, you can direct Bajaj Allianz to put the premium in funds of your choice. The funds available are:
1. Equity Growth Fund II 2. Accelerator Mid -Cap Fund II 3. Pure Stock Fund 4. Asset Allocation Fund 5. Bluechip Equity Fund 6. Bond Fund 7. Liquid Fund Very High Risk Very High Risk Very High Risk High Risk High Risk Moderate Risk Low Risk

Wheel of Life Portfolio Strategy: This strategy is excellent for people who cant keep track of their funds on regular basis. Wheel of Life strategy begins with proportion of premium being allocated to high risk funds. As the policy moves towards maturity, the premium is gradually shifted from high risk funds to moderate risk fund. The rationale is that the amount gets good growth in initial stages and then is secured against market movements by lowering the risks associated. The investment risk is borne by the policyholder. It is ultimately dependent on the policyholder whether to go with less risk low returns or higher risk more returns.

Compare Returns in Investment Plans!! How much will you get?


What will be my returns from IGain?

The important question that customer wants answered is What will be my gain in iGain III? Let us take an example:
Ravinder aged 30 invests Rs 15,000 for policy term of 20 years. He gets insurance cover of 150,000. Assume fund value after four years is Rs 90,000. Death Benefit: If Ravinder passes away after four years, his wife will get higher of Sum Assured or fund value. In this case, since Sum Assured is more, it will be given to his wife. Maturity Benefit: The returns that Ravinder will make by keeping Rs 15000 by investing in iGain III can be seen graphically:

He gives in total amount of Rs 300,000 to Bajaj Allianz. At maturity, assuming growth of 10% only is approximately Rs 724,019. The maturity amount could be more depending on the money market scenario. Longer terms typically provide good returns. Are there any tax benefits?

Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income.

Under Section 10(10D) death claim is completely tax free. What charges does Bajaj Allianz iGain III deduct and how much?

Premium Allocation Charges: These charges are deducted as percentage of premium. Insurer deducts these charges on account of expenses incurred by the company medical examination, policy issuance, underwriting bills. Premium allocation charges are 2% for first five years and there is no charge from 6th year onwards. Fund Management Charge: These are the charges levied as a percentage of fund value to manage the funds. The premium paid is allocated into different portfolio of funds. The charges are:
Equity Growth Fund II Accelerator Mid -Cap Fund II Pure Stock Fund Asset Allocation Fund Bluechip Equity Fund Bond Fund Liquid Fund 1.35% 1.35% 1.35% 1.25% 1.25% 0.95% 0.95%

Policy Administration Charge: These are monthly deductions by the insurer for maintaining the policypaperwork, work force etc. They are recovered through cancellation of units 6 th year onwards until the end of policy term. iGanin III has administration charges of Rs 32 per month with inflation of 5% at every policy anniversary. Mortality Charge: These are charges deducted as a part of life cover provided and are recovered through cancellation of units. What else should I know about?

Top-Up premium: This is the additional premium which can be added above the usual premium to get more units if you think the particular fund is providing good returns. Top-Up can be made after 1st policy year and not in last 5 policy years. The minimum Top-Up in iGain III is Rs 5,000. Switch: Switch is made to transfer the fund value from one fund to another. You can make any number of switches in iGain III free of charge but the minimum amount to be switched is Rs 5000. Premium Re-direction: This option lets you direct the further premiums into different fund. At policy anniversary, you can allocate funds in whatever fund you want. Partial Withdrawal: If policyholder is above 18 years and the minimum amount is Rs 5000 and amount equal to three years premium shall always be maintained.

Grace period: iGain III can be renewed within 15 days for monthly mode and 30 days for other modes from the premium due date. Free Look Period: iGain III plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports. How can I buy iGain III?

IGain III is available online; the process is fast and simple. Within few minutes, your application will be submitted and policy will be issued accordingly. Whats Policybazaar opinion on iGain III?

iGain III is all rounder product. There is nice flexibility as Sum Assured can be increased or decreased. The charges are low compared to many ULIPs available in the market. The premium paying term is excellent option to manage your savings accordingly. The settlement option also lets you manage the maturity amount in comprehensive manner.
Bajaj Allianz Shield Review

Plan Name: Shield Insurer: Bajaj Allianz Insurance Company Limited Category: Unit Linked Insurance Plan Objective: Financial protection of family and good return on investment Major USP of Bajaj Shield Plan:

o o o o o

Single Premium Plan Guaranteed Addition Option to decrease Sum Assured Unlimited free switches Optional Riders

Age eligibility of Bajaj Shield Plan:

Minimum Entry Age 8 Years Maximum Entry Age 65 Years

Minimum Age at Maturity-18 Years Maximum Age at Maturity-75 Years Policy Term - 10 Years Premium Options in Bajaj Shield Plan:

Minimum Regular Premium: Rs 25,000 Maximum Regular Premium: No limit

Life Cover in Bajaj Shield Plan:

Minimum Sum Assured 1.25 times single premium for entry age below 45 years - 1.1 times of single premium for entry age 45 years & above Maximum Sum Assured - 5 times of single premium What benefits does Bajaj Shield offer?

Death benefit: In case of death of the life insured, the opted Sum Assured is paid to the designated nominee. Maturity Benefit: The fund value as on maturity date is paid to the policyholder. Guaranteed Addition: At maturity, 6% of the premium is paid if premium is below Rs 3 lacs. Above 3 lacs, 3% of Sum Assured is paid. Riders: Riders add more security to the base plan. The riders available with Shield insurance are: - Accidental Death Benefit Rider - Accidental Permanent Disability Rider How is my money invested in Bajaj Shield Plan? Whats the risk?

The premium you pay after the deductions is invested into different funds. The funds have different risk probability- some funds invest in debt market which is safer while some funds invest in equity market which is risky but probability of higher returns is more. There are total of eight funds with mixture of equity and debt to balance the risks. Shield Plus Fund IV Asset Allocation Fund Equity Growth Fund II Bond Fund Liquid Fund Accelerator Mid-Cap Fund II Bluechip Equity Fund Pure Stock Fund Moderate Risk High Risk Very High Risk Moderate Risk Low Risk Very High Risk High Risk Very High Risk

Compare Returns in Investment Plans!! How much will you get?


What will be my returns from Bajaj Shield Plan?

The important question that customer wants answered is What will be my returns in Bajaj Shield plan? Let us take an example: Vinay aged 30 invests Rs 2 lacs as a single premium. He opts for maximum insurance cover of 1,000,000. Assume fund value after four years is Rs 300,000. Death Benefit: If Vinay passes away after four years, his wife will get Sum Assured. Maturity Benefit: He gives in total amount of Rs 200,000 to Bajaj Allianz. At maturity, assuming growth of 10% only is approximately Rs 388,635. The maturity amount could be more depending on the money market scenario. Longer terms typically provide good returns. Are there any tax benefits?

Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income. Under Section 10(10D) death claim is completely tax free.

What charges does Bajaj Allianz Shield deduct and how much?

Premium Allocation Charges: These charges are deducted as percentage of premium. Insurer deducts these charges on account of expenses incurred by the company medical examination, policy issuance, underwriting bills. Premium allocation charge is 3% of the single premium. Fund Management Charge: These are the charges levied as a percentage of fund value to manage the funds. The premium paid is allocated into different portfolio of funds. The charges are 1.35% for Shield Plus Fund IV, Equity Growth Fund II, Accelerator Mid-Cap Fund II, Pure Stock Fund; 1.25% for Asset Allocation fund, Bluechip Equity Fund; 0.95 for Bond Fund, Liquid Fund. Policy Administration Charge: These are monthly deductions by the insurer for maintaining the policypaperwork, work force etc. They are recovered through cancellation of units. Shield has administration charges of 3% of annual premium till 5 th year and 0.85% thereafter. Mortality Charge: These are charges deducted as a part of life cover provided and are recovered through cancellation of units. What else should I know about?

Top-Up premium: This is the additional premium which can be added above the usual premium to get more units if you think the particular fund is providing good returns. Top-Up can be made after 1stpolicy year and not in last 5 policy years. The minimum Top-Up in Shield is Rs 5,000.

Switch: Switch is made to transfer the fund value from one fund to another. You can make any number of switches in Shield free of charge but the minimum amount to be switched is Rs 5000.

Premium Re-direction: This option lets you direct the further premiums into different fund. At policy anniversary, you can allocate funds in whatever fund you want.

Partial Withdrawal: If policyholder is above 18 years and the minimum amount is Rs 5000 and amount equal to one-fifth of single premium or Rs 5,000 whichever is higher shall always be maintained.

Free Look Period: Shield plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

How can I buy Bajaj Shield Plan?

Shield Plan is available online; the process is fast and simple. Within few minutes, your application will be submitted and policy will be issued accordingly. Whats Policybazaar opinion on Bajaj Shield Plan?

Shield is a single premium plan. If you have a lump sum amount to invest, Bajaj Shield could be one of your choice as it is loaded with many benefits. You get guaranteed additions along with the growth on your premium amount invested. The riders add security to ensure that financial constraints never arise if something happens to you. You can also decrease Sum Assured if required. Bajaj Allianz New Risk Care II

Plan Name: New Risk Care II Insurer: Bajaj Allianz Life Insurance Co Ltd Category: Term Life Insurance Plan Objective: Financial protection of family Bajaj Allianz New Risk Care II is a term life insurance which provides high cover at relatively low cost. New Risk Care II term life insurance plan provides financial protection to your loved one if something happens to you. The Sum Assured will be paid to the nominee when policyholder passes away. Bajaj Allianz New Risk care II is term life insurance plan and offers no maturity benefits. However there are excellent rider options at extra premium offered by New Risk Care II term life insurance plan. Who can buy New Risk Care II?

Bajaj Allianz New Risk Care II term life insurance plan can be bought by anyone who is at least 18 years old and not more than 60 years. The policy term varies from 5 years to 40 years. The maximum age of person at policy maturity should not exceed 65 years. How Much Cover: The minimum Sum Assured in New Risk Care II term plan is Rs 2 lacs and the maximum cover is unlimited though it is subject to underwriting. Confused how much cover you need?

Rule of Thumb: The typical cover should be ten times your annual income. Summarized Table: Entry Age Maturity Age Policy Term Sum Assured Premium Mode Minimum Premium* 18 years - 60 years Maximum 65 years 5 - 40 years Rs 200000 - unlimited( subject to underwriting) Yearly, Half yearly, Quarterly, Monthly, Single Rs 1200 yearly Rs 612 half yearly Rs 312 quarterly Rs 108 monthly Rs 5000 Single Premium *These premiums are exclusive of service tax and education cess.

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What do I get?

Death Benefit: The Sum Assured is paid to the nominee if the policyholder expires assuming term insurance policy is in effect.
Tax Benefits: The premium paid (not more than 1 lac) can be used for availing tax benefits as per Income Tax Act, 1961. Illustration: Avinash, 32 years old takes Bajaj New Risk Care II term life insurance plan which provides cover of 40 lacs and has policy term of 25 years. He chooses his son (minor) as beneficiary and wife as appointee. Consider these Scenarios: Scenario1: Avinash dies in the 1st policy year- Avinashs son will get 40 lacs when he reaches 18 years. This case is relevant throughout the policy term.

Scenario 2: Policy is in grace period and Avinash dies, Sum Assured minus renewal premium will be paid. Scenario 3: Policy lapses on the 22nd year, Avinash dies, nothing will be paid. The lapsed policy can be revived within 30 days from date of renewal. RIDERS:

Riders are very useful additional benefits which could be beneficial to the policyholder. They are low priced but their utility is huge. The only thing is they can be added only at the commencement or anniversary of the policy. Riders available with Bajaj Allianz New Risk Care II plan are:

Comprehensive Accident Protection (CAP): This includes Accidental Death Benefit, total/partial disability benefit, waiver of premium benefit. The riders Sum Assured depends on the eventuality suffered. In case of Permanent partial disability, 50% of rider Sum Assured is payable. In case of Permanent total disability, 100% of Sum Assured is payable. The maximum limit is Rs 25 lacs and Rs 50 lacs respectively. Critical Illness Benefit: The diseases included in this benefit are: 1. First Heart Attack 2. Coronary Artery Disease requiring Surgery 3. Stroke 4. Cancer 5. Kidney Failure 6. Major Organ Transplantation 7. Multiple Sclerosis 8. Aorta Graft Surgery 9. Primary Pulmonary Arterial Hypertension 10. Alzheimers disease 11. Paralysis The minimum cover is Rs 50000 and the maximum cover is equal to Sum Assured. The critical illness benefit will be deducted if death happens within 60 days. Critical illness benefit is payable only after 6 months from inception of policy or reinstatement of policy. Hospital Cash Benefit: It is additional cash that one might need during his stay at hospital. The amount can be calculated @ Rs 4 per 1000 Sum Assured subject to minimum of Rs 200 and maximum of Rs 500 per day. The hospitalization has to be more than 72 hrs to avail the hospital cash benefit. The amount that will be paid will be lower of 75% of the room charge of hospital or eligible daily hospital cash amount.

What Else?

How to buy: Contact Policybazaar and we will assist you in fast and simplified buying process for Risk Care II.

Free Look Period: Bajaj Allianz New Risk Care II policy can be returned within 15 days of receiving the policy contract. The premium will be paid back minus some charges like medical examination, stamp duty. Grace period: Bajaj New Risk Care II premium can be paid within 30 days from the date of renewal. In case of monthly mode payments, grace period is 15 days. However in case of death during grace period; renewal premium will be deducted from Sum Assured payable. After the grace period, if the renewal premium is not paid the policy will cease to exist. Reinstatement: New Risk Care II policy can be revived within 2 years from the premium due date. Also beyond 6 months, proof of good health will be required. All the unpaid premiums plus relevant interest have to be paid to revive the policy. Maturity: There are no maturity benefits since New Risk Care II a pure term plan. Surrender: The policy can be surrendered (only for single premium) after five years from inception. Surrender value= 0.70*(policy term- elapsed duration)/policy term*single premium Payment Method: The payment options for New Risk Care II are cash, cheque subject to clearance, credit/debit card. Exclusion: During the first policy year or the year of reinstatement of policy, if policyholder commits suicide then Sum Assured will not be paid. Death Claim: The nominee can apply for the death claim (Sum Assured) after filling claim forms along with submitting list of documents which will prove authenticity of the claim. Close Competitors:

LIC Amulya Jeevan- I, Bharti AXA Elite Secure, Met Suraksha Plus, Kotak Preferred term plan, Max New York Life Platinum Protect, Tata AIG Life Raksha, Aviva LifeShield Plus, HDFC Term Assurance,Reliance Term Plan, Met Protect Term Plan. Policybazaar take on Bajaj Allianz New Risk Care II :

Bajaj New Risk Care II term life insurance plan is superb term plan that has many additional Add-ons like critical illness, accidental benefits and rare benefit- daily hospital cash along with many payment modes. New Risk Care II is affordable term plan which is not available online. For buying New Risk Care II term, click here. Bajaj Allianz iSecure More Plan

Plan Name: iSecure More Insurer: Bajaj Allianz Life Insurance Co Ltd Category: Term Life Insurance Plan Objective: Financial Protection of family Bajaj Allianz iSecure More Plan is newly launched term life insurance plan which offers financial protection to the dependents in case of untimely demise. You pay relatively small premium to the insurer for the comprehensive cover and get your family secured. If policyholder passes away, Sum Assured will be given to the nominee. Since Bajaj Allianz iSecure More is a pure risk plan, there are no survival benefits.

Who can buy iSecure More Plan?

Bajaj Allianz iSecure More term life insurance plan is for any individual who is at least 18 years or below 60 years. iSecure More policy term is minimum of 10 years and maximum of 25 years. If you are 50 years old the maximum term you can opt for is 20 years. That is because iSecure More plan maturity age cannot exceed 70 years.

How Much Cover: The minimum Sum Assured is Rs 2.5 lacs. iSecure More allows you to take as much high cover as you want. However you have to meet underwriter s requirement to get the cover you want, which depends on your annual salary, age etc.

So how much cover should you get? Rule of Thumb: The typical cover should be ten times your annual income.

Summarized Table: Entry Age 18 years-60 years

Maturity Age Sum Assured Policy Term Premium Pay Term Premium Mode What do I get?

Maximum 70 years 250,000-unlimited( subject to underwriting) 10, 15, 20 and 25 years Same as policy term Yearly, Half-yearly, quarterly, monthly

Death Benefit: The predetermined Sum Assured is paid to the beneficiary who could be your parents, wife, son or daughter. The policy should be active to receive the benefit.

Joint Life: iSecure More has the option to opt for two life insured and the death benefit will be paid on each life. Riders: Accidental Protection, Critical Illness, Hospital Cash are the riders available with iSecure More.

Death Proceeds: You have the option to take the death benefit in annual installments over a settlement period of 10 years.

Sum Assured Rebate: A discount on premium will be provided if the Sum Assured is equal or more than INR 500,000.

Tax Benefits: Section 80C, 10 (10D) of the Income Tax Act, 1961 are applicable. Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income. Under Section 10(10D) death claim is completely tax free.

The following example will make the plan crystal clear. Illustration: Balwant is 30 years old with wife and 2 kids. His yearly salary is Rs 4 lacs and makes savings of one lac per year.

Suppose Balwant dies after 4 years, he will have left paltry 4 lacs to his dependents. Under same scenario, he buys Bajaj Allianz iSecure More Plan with Sum Assured equal to Rs 30 lacs and policy term of 25 years.

He would have to pay a paltry premium of Rs 10,695. With just around Rs 10,695 yearly, you can get sum assured of 30 lacs which will financially secure your family. Additionally most of the savings stay intact. Your family gets = Rs 30 lacs (Sum Assured) + 4-5lacs (Your Savings)

Consider these Scenarios

Scenario1: Balwant dies in the 4th policy year- Balwants family will get 30 lacs. Same is true for all policy years. Scenario 2: Policy is in grace period and Balwant dies, Sum Assured minus renewal premium will be paid. Scenario 3: Policy lapses on the 22nd year, Balwant dies, nothing will be paid. If policy lapses, there is option to revive it within 30 days from date of renewal. Scenario 4: Balwant along with his wife opts for joint life policy. Balwant dies after 6 years, death benefit will be paid. The policy will continue with his wife being life insured, the premium and Sum Assured will be reduced accordingly. If the wife dies too, then the Sum Assured will be paid and policy will terminate. What Else?

How to buy: Policybazaar representatives will help you through the purchase process.

Free Look Period: iSecure More plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Grace period: iSecure More can be paid within 30 days from the date of renewal and 15 days for monthly mode. Policy terms will remain unchanged during grace period. However in case of death during grace period, renewal premium will be deducted from Sum Assured payable. After 30 days, if the renewal premium is not paid the policy will cease to exist.

Sum Assured: The policyholder cannot change the sum assured of iSecure More once taken. However he can opt for another term plan as per his needs. Reinstatement- iSecure More can be revived within 2 years from the premium due date. However all outstanding premiums are to be paid. Maturity: There are no maturity benefits in Bajaj Allianz iSecure More plan as its a pure term life insurance plan. Payment Method: Credit/debit card, cheque are accepted by Bajaj Allianz. Exclusion: During the first policy year or the year of reinstatement of policy, if policyholder commits suicide then Sum Assured will not be paid. Death Claim: The nominee can request for the death claim (Sum Assured) after filling claim forms along with submitting list of documents which will prove authenticity of the claim. Close Competitors

LIC Amulya Jeevan- I, Bharti AXA Elite Secure, Met Suraksha Plus, Kotak Preferred term plan, Max New York Life Platinum Protect, Tata AIG Life Raksha Policybazaar take on Bajaj Allianz iSecure More Plan

Bajaj Allianz iSecure More is latest addition in Bajaj Allianz life insurance products wide portfolio. Bajaj Allianz iSecure More is a good term life insurance plan which offers many benefits like riders, rebate etc. Usually joint life policies terminate after death of one life insured but iSecure More continues as per the new conditions.

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