Bajaj Allianz Assured Protection

Bajaj Allianz Life Assured Protection is a ULIP (Unit-linked Insurance Plan) with a combination of protection and investment. Hence this plan takes care of your insurance and investment requirements with benefits like partial withdrawals, additional riders etc.

ULIP is a unique combination of life insurance and market-linked investment. Thus it offers an opportunity to create wealth in the long term along with a life cover. In Assured Protection plan, you need to choose your premium paying term and policy term. After deducting charges, the company invests the money in your choice of Funds and gives you the Fund Value on maturity.   

• 100% allocation from the 10th policy year onwards
• Option to choose from a wide range of Riders to meet your needs
• Automatic annual increase in the Sum Assured from 6th policy year
• Flexibility to make partial withdrawals after 5 policy years
• Flexibility to pay top-up premiums over and above regular premiums
• Choice of 7 investment funds to invest in
• Top-up premiums and partial withdrawals after 5th policy year onwards
• Choice between Wheel of Life portfolio strategy or Investor Selectable portfolio strategy
• Additional Sum Assured in case of death due to an accident 

Maturity Benefit – On Maturity, you will get the Fund Value as on the maturity date

Death Benefit –

§  In case of death of the Life Assured before attaining 60 years of age, the nominee gets Higher of Sum Assured less partial withdrawals made last 24 months (if any) or

        The Fund Value

§  In case of death of the Life Assured after attaining 60 years of age, the nominee gets Higher of Sum Assured less partial withdrawals made in last 24 months before age 60 years and all partial withdrawals made after age 60 years or

        The Fund Value

Income Tax Benefit – Premiums paid under life insurance policy are exempted from tax under Section 80 C and maturity proceeds are exempted from tax under Section 10 (10D)

The below sample projection is based on 100% investment in ‘Bond Fund’ for healthy male

Premium = Rs.20,000 per year

Age at the time of taking the policy = 30 years

Age at Maturity = 45 years

Policy Term = 15 years

Premium Paying Term = 15 years

Sum Assured = Rs 2,00,000

Total Investment = Rs.20,000 x 15 years = Rs. 3,00,000

Riders – There are 6 optional additional Insurance Riders for extra protection available at a nominal extra cost:

§  Family Income Benefit Rider   

§  Term Rider   

§  Waiver of Premium Benefit Rider           

§  Critical Illness Benefit Rider     

§  Hospital Cash Benefit Rider

§  Accidental Permanent Total / Partial Disability Benefit Rider

You stop paying the premium – The insurance company gives a grace period of 30 days after which the policy is discontinued. Revival or reinstatement of the discontinued policy is not allowed

You want to surrender the policy – You have the option to surrender policy anytime from 6^th policy year. Surrender value paid will be equal to the Fund Value as on date of surrender

You want to take a loan under this policy – Loan under this plan is not available

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