Bajaj Allianz CSC Bachat Plus Plan

• Guaranteed interest rate
• Guaranteed additional interest rate
• Residual Addition
• Get Policy Account Value as maturity benefit
• Alteration of premium payment frequency
• Partial withdrawals allowed
• Tax benefits

You have the option to invest in the Policy Account (PA). All the premiums paid net the charges applicable, are credited to PA. Policy Account Value is the amount of regular premiums paid less applicable charges. Guaranteed Interest Rate, Additional Interest Rate and Residual Additions add-up to the Policy Account Value.

Death Benefit

In the event of death of the life insured during the policy term, the Death Benefit payable is higher of Sum Assured on Death or Policy Account Value. Here, Sum Assured on Death is higher of sum assured, 105% of total premiums paid, or total premiums paid compounded @1% p.a

Maturity Benefit

On survival of the life insured till the end of the policy term, the Policy Account Value is payable. The maturity benefit is subject to minimum amount equivalent to the total premiums paid (less all the partial withdrawals made during the policy term) compounded @1% p.a till the date of maturity.

Guaranteed Interest Rate

The Guaranteed Interest Rate of 1% per annum on the balance in Policy Account is credited at the beginning of each calendar quarter till the end of the policy term.

Additional Interest Rate

An Additional Interest Rate (AIR) of 4% per annum on the balance in Policy Account is credited at the beginning of each financial quarter for the first 5 policy years and thereafter, it will be 0.5% per annum.

Non-Zero Positive Residual Addition

Non-Zero Positive Residual Addition is done to ensure maximum reduction in yield criteria and it is added at the end of each policy year, starting from 5^th policy year.

Partial Withdrawal

You have the option to withdraw from your Policy Account Value after the 5^th policy anniversary. The minimum partial withdrawal amount is Rs 1,000, subject to maximum withdrawal in a policy year is 25% of the Policy Account Value. The minimum balance required after each such withdrawal is 3 times the annualized regular premium.

Bonus

This plan is not eligible for the bonuses.

Loan Benefit

No loan benefit can be availed under this plan.

Surrender Value

Upon surrendering the policy with-in first 5 policy years, the Policy Account Value is payable at the end of the 5^th year. Upon surrendering the policy after first 5 policy years, the Policy Account Value is payable. The policy terminates after payment of the surrender value.

No rider can be opted under this plan.

Premium Allocation Charge: 20% of premium allocation charge is deducted from the regular premiums paid during the 1^st policy year. No charge is levied from 2^nd policy year onwards.

Mortality Charges: Mortality charge is applied on the Sum at Risk (SAR) and it is deducted on each Policy Month Anniversary.

Taxes & Cess: Service tax & cess, as applicable are deducted from your IPA. Tax rates are subject to revision from time to time.

Tax benefits can be availed under section 80C & 10(10D) under the Income Tax Act, subject to change in tax laws.

Mr. Hitesh aged 30 years buys Bajaj Allianz CSC Bachat Plus with the policy term of 15 years, annual premium payment of Rs 20000, and sum assured of Rs 2,00,000.

Scenario A- Maturity Benefit: In case of his survival till maturity of the policy, the Policy Account Value is payable. Guaranteed Interest Rate, Additional Interest Rate & Non-Zero Positive Residual Addition also boosts the Policy Account Value.

Scenario B- Death Benefit: In the event of his death during any policy year, the Death Benefit payable is higher of Sum Assured on Death or Policy Account Value.