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Bajaj Allianz Life Insurance Plans: Detailed Info

Bajaj Allianz Life Insurance Plans: Detailed Info

Bajaj Allianz Life Insurance Plans: Detailed Info

 

Below are several of their prominent life insurance plans and what they offer:


1. Bajaj Allianz Life iSecure II Term Assurance Plan

  • Type: Term / Pure risk life cover (non-linked, non-participating) with optional return of premiums etc. 
  • Entry Age: Minimum 18 years; Maximum 65 years. 
  • Maturity Age / Age at Maturity: Between 28 years to 85 years depending on term. 
  • Policy Terms / Premium Payment Terms:
    • Several combinations: Limited pay (e.g. pay for 5, 10, 15, 20, 25 years) with policy term of 10 to 50 years; Regular pay also available. 
  • Sum Assured Range:
    • Minimum: ₹ 25,00,000 (₹25 Lakhs) 
    • Maximum: No fixed upper limit under standard underwriting (subject to company’s underwriting policy) 
  • Key Benefits / Special Features:
    • Flexibility in premium payment frequency (annual, half-yearly, quarterly, monthly) 
    • Death Benefit: On death during the policy term, nominee gets sum assured. 
    • Guaranteed Death Benefit: Minimum 105% of total premiums paid up to date of death. 
    • No maturity benefit (if survival to end of term) in basic version (pure risk cover) 
    • Option for payout of death benefit in instalments over several years (5 / 10 / 20 / 30 / 40 years) 

2. Guaranteed Saving Goal (Savings Plan, Single Premium Endowment)

  • Type: Savings / Endowment type plan, single premium payment. 
  • Entry Age / Other Age Limits: Specific ages not fully detailed in summary, but policies typically have minimum age of adult lives (likely ~18) and maximum ages depending on term. (Would need brochure for exact) 
  • Premium Payment: Single Premium (one-time premium) only. 
  • Sum Assured / Benefit Options:
    • Offers two sum assured options: “Enhanced Sum Assured” (often defined as 10× Single Premium) or a multiple of Single Premium (lower multiple) depending on age etc. 
  • Policy Terms: Multiple policy term options (medium to long term) depending on life goal. 
  • Key Features / Advantages:
    • Guaranteed Maturity Benefit: The maturity amount is guaranteed from the beginning. 
    • Guaranteed Enhancer: Depending on age, chosen SA option, policy term & single premium paid, there is an additional enhancer % for maturity (for online-sourced policies there may be additional enhance benefit) 
    • Loan option: If the policy acquires a surrender value, a loan can be taken against the policy. 
    • Death Benefit: On death, higher of the chosen SA / enhanced SA or guaranteed maturity benefit. 

3. Bajaj Allianz Life ACE (Savings / Income Plan)

  • Type: Savings plan with regular income / deferred income options. (Variant: “ACE Savings Plan”) 
  • Key Features:
    • Option to start income immediately after premium payments begin, or defer income for up to 5 years. 
    • Income tenure options: Policyholder can choose how long income will be paid (e.g. 10+ years) up to high ages. 
    • Goal Protection Benefit: If policyholder dies during term, the family continues getting income for policy term. 
  • Sum Assured / Benefit Options: Depends on premium, age, income options etc. Full details in product docs. (Exact SA / premium sample not in summary article) 

4. Bajaj Allianz Invest Assure Plan

  • Type: Traditional participating life insurance / savings + protection plan. 
  • Entry / Maturity Ages:
    • Entry age for “Gold” version: 18 to 50 years 
    • “Silver” version: 0 years (newborn) to ~50 years; maturity ages up to ~65-70 years in some variants. 
  • Policy Tenure: From about 15 years up to about 40 years depending on variant. 
  • Sum Assured / Premium Limits:
    • Minimum Sum Assured: ~₹1 lakh in many cases. 
    • No fixed upper limit in some variants (subject to underwriting) 
    • Premium payment frequency: Monthly, quarterly, half-yearly, annual. 
  • Key Benefits:
    • On death: nominee gets sum assured plus accumulated bonuses. 
    • Surrender benefit after certain years of premium paid (usually 2-3 years). 
    • Discounted premiums for higher sum assured. 
    • Tax benefits under Sections 80C / 10(10D) of Income Tax Act. 

5. Other / General Info (eTouch Plan etc.)

  • Bajaj Allianz Life eTouch / eTouch II is one of their term insurance / non-linked pure protection plans.
  • From illustrated examples: For a 25-year-old male non-smoker, with policy term 30 yrs, sum assured ₹1 Cr, annual premium is about ₹ 6,238 for first year (for some variant), changing later. 
  • Features typically include: death benefit, option of income payout (instead of lump sum) for some percentage, online discount etc. 

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