MyInsuranceClub
menu

Bajaj Allianz New Risk Care II

This plan has been withdrawn by the insurance company and is no longer available for sale.

Bajaj Allianz New Risk Care II Plan Summary

Bajaj Allianz New Risk Care II is a pure term insurance plan with no maturity benefit unlike Bajaj Allianz Term Care, where the premiums are returned on maturity. This is a vanilla product with additional rider benefits.

tax-benefit-overview icon
Income Tax Benefit
inflation-shield-overview icon
Large Tenure
earn-and-burn-overview icon
Surrender Option
Compare this plan with other Term Plans
By clicking “Show Premiums”, I authorize MyInsuranceClub to Call/Message & agree to Terms of Use

Key Features

key-feature-header-icon
Large Tenure

This has a large tenure of the policy of 40 years and caters to people who require low sum assured as well

Surrender Option is available with Single premium policies
There aFew rider options available along with this plan

Benefits

policy-benefits-header-icon
Riders

There are 3 exclusive riders available along with the Term Plan

  1. Comprehensive Accident Protection : Covers against Accident and Disability
  2. Critical Illness Benefit (CI) : Covers you against 11 defined critical diseases
  3. Hospital Cash Benefit (HCB) : Reduces your burden against hospitalization expenses
Death Benefit

In case of death of the policy holder, the nominee gets the sum assured under the plan and rider benefits as applicable.

Maturity Benefit

Being a pure Term Plan, there are no maturity benefits under this plan.

Income Tax Benefit

Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C

 

How it works

tab-how-it-works-header-icon

The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 50 lakhs and Policy Term = 25 years

 

Bajaj Allianz New Risk Care II Premium Rates

Eligibility

tab-eligibility-header-icon
  Minimum Maximum
Sum Assured (in Rs.) Rs.2,00,000 No Limit
Policy Term (in years) 5 40
Premium Payment Term (in years) Single Equal to policy term
Entry Age of Policyholder 18 60
Age at Maturity - 65
Single premium Rs 5,000 No Limit
Payment modes Yearly, Half-Yearly, Quarterly, Monthly and Single

FAQs

tab-faqs-header-icon
angle down iconYou stop paying the premium

If the policy holder stops paying the premium, then the policy would lapse after 15 days of the grace period is over. Then it can be revived within 2 years from the due date of first unpaid premium if the necessary conditions are fulfilled and the due premium and interest is paid.

angle down iconYou want to surrender the policy

Surrender Benefit is available with Single Premium policies. It is paid according to the formula:

Surrender Value= 0.70 * (n-t) / n * Single Premium

angle down iconYou want a loan against your policy

Loan facility is not available under this policy.