Bajaj Allianz Money Secure Plan
Money Secure is a regular premium unit linked insurance plan with a guaranteed maturity value. You also have the flexibility to select the policy term and the premium paying term. There is an automatic annual increase in sum assured from the 6th policy year onwards.
It works just like any other Ulip. Your premiums are invested in the Assured returns Fund which is invested in the markets. Depending on the NAV of the fund, your investment would increase of decrease over a period of time.
Key Features of Bajaj Allianz Money Secure Life Insurance Plan
- Premium Term and Premium Paying Term can be chosen by you
- Sum Assured will increase every year by the premium amount every year (after 6 years of the policy term)
- Sum Assured can be decreased If need be
- Flexibility in changing premium paying term and premium paying frequency
Benefits you get from Money Secure Plan
Death Benefit – Higher of the Sum Assured less the partial withdrawals made or the Fund Value on date of receipt of intimation of death.
Maturity Benefit – The total accumulated fund value would be payable on maturity.
Income Tax Benefit - Premiums paid towards Life Insurance policies up to Rs.1,00,000 are allowed as a deduction from the taxable income each year under section 80C. Maturity amounts are also exempt from tax as per Sec 10(10D).
Eligibility conditions of Super CashGain Life Insurance Plan
|
|
Minimum
|
Maximum
|
|
Sum Assured (in Rs.)
|
Entry Age < 45 – 10 times annualised premium
Others – 7 times the annualised premium
|
20 times annualised premium
|
|
Policy Term (in years)
|
10
|
15
|
|
Premium Payment Term (in years)
|
Policy Term minus 5 years or Policy Term
|
|
Annual Premium
|
7000
|
No Limit
|
|
Entry Age of Policyholder
|
3
|
65
|
|
Age at Maturity
|
18
|
75
|
|
Payment modes
|
Yearly, Half-Yearly, Quarterly
|
Additional Features and Money Secure Plan
Riders – A large number of additional benefits can be taken in the form of riders by paying extra premium
|
Type of Rider
|
Available with Policy
|
|
Accidental Death Benefit
|
Yes
|
|
Permanent Disability Benefit
|
Yes
|
|
Family Income Benefit
|
Yes
|
|
Critical illness (or dread diseases) Benefit
|
Yes
|
|
Term Rider
|
Yes
|
|
Waiver of Premium Benefit
|
Yes
|
|
Family Income Benefit
|
Yes
|
|
Hospital Cash Benefit
|
Yes
|
Top Ups – Top Ups can be made in this policy and there is no limit on the maximum amount of top up. Minimum amount should be Rs. 5000 though.
Partial Withdrawals – You can make any number of partial withdrawals anytime after the 5th policy year. The regular fund value should not fall below 3 times the annual premium though. Charges are applicable.
Alternate ULIPs different insurance companies
Tata AIG Life Lakshay Supreme
ICICI Prudential Life Time Premier
Bharti Axa Life True Wealth
Other ULIPs from Bajaj Allianz Life Insurance
Bajaj Allianz Max Advantage
Bajaj Allianz iGain III
Bajaj Allianz Smart Insurance Plan III
