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Bajaj Allianz Life Super Life Assure is a non-linked, participating, regular premium paying traditional endowment plan that provides the dual benefit of life cover and compulsory savings that further helps you achieve the targeted financial goals. This plan is also available with the income benefit option that helps your family meet their regular expenses, even in your absence.
Get QuoteDeath Benefit
Life variant: In case of demise of the life assured within the term of the policy, the death benefit is higher of, 105% of total premiums paid or sum assured on death plus vested bonus plus terminal bonus.
Super variant: In the event of death of the life assured during the term of the policy, the death benefit is higher of, 105% of total premiums paid or sum assured on death plus vested bonus plus terminal bonus.
(Sum assured on death is higher of 10 times of annualized premium or sum assured)
Income Benefit:
The nominee will receive an additional 100% of sum assured in 120 monthly installments over a period of 10 years, which commences from the date of payment of the death benefit.
Maturity Benefit
At maturity of the policy, sum assured plus vested bonus plus terminal bonus is payable. The minimum guaranteed maturity benefit is 100.1% of total premiums paid.
Loan Benefit
Loan amount can be availed up to 90% of surrender value, as available on the date of loan.
Surrender Value
Surrender Value is payable on payment of at least 3 full policy years’ premiums. Surrender Value is higher of guaranteed surrender value and special surrender value.
Tax Benefit
Premiums paid and maturity benefit/death benefit/surrender value are eligible to avail tax benefits under section 80C & 10 (10D) of the Income Tax Act, respectively.
| Factor | Minimum | Maximum |
| Age (as on last birthday) | Super Variant: 18 Years Life Variant: 0 Year | Super Variant: 50 Years Life Variant: 55 Years |
| Age at Maturity | Super Variant: 30 Years Life Variant: 18 Years | 70 Years |
| Policy Tenure | 12 Years | 20 Years |
| Premium Paying Term | Same As Policy Years | - |
| Premium Paying Mode | Annually, Semi Annually, Quarterly, & Monthly | - |
| Premium Amount | SuperVariant-Rs 5328 (annually) Life Variant- Rs 5201 (annually) | As Per Sum Assured |
| Sum Assured | Rs 1 Lac | No Limit (subject To Underwriting) |
| Freelook Period | 15 Days/30 Days (for Distance Marketing Channel) From The Receipt Of The Policy | - |
| Grace Period | 30 Days (15 Days For Monthly Mode) | - |
| Plan Type | Online | - |
Bajaj Allianz Waiver of Premium Benefit Rider is available with this plan.
Let us understand the plan with the help of an Example:
Age of Life Insured: 30 years
Policy Term Chosen: 20 years
Nitin (life insured) opted for sum assured of Rs 3,00,000 with an annual premium of Rs 16,136.
At maturity, Rajesh will receive following benefit:
|
Rate of investment return |
Sum Assured (I) |
Vested Bonus (II) |
Maturity Benefit (I+II) |
|
8% |
Rs 3,00,000 |
Rs 2,31,409 |
Rs 5,31,409 |
|
4% |
Rs 3,00,000 |
Rs 77,085 |
Rs 3,77,085 |
In the event of death of Nitin at the end of 10th policy year, the nominee will receive the following death benefit.
Benefit payable immediately on death,
|
Rate of investment return |
Sum Assured (I) |
Vested Bonus (II) |
Maturity Benefit (I+II) |
|
8% |
Rs 3,00,000 |
Rs 99,278 |
Rs 3,99,278 |
|
4% |
Rs 3,00,000 |
Rs 36,341 |
Rs 3,36,341 |
Income Benefit payable on death: Rs 2500 is payable on every month for a period of 120 months.
Please note: Premium mentioned above is for ‘Super’ variant. Vested bonus is calculated @ 8% & 4% and it is not guaranteed. It is for illustrative purpose only.
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