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Bajaj Allianz New Risk Care II

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This plan has been withdrawn by the insurance company and is no longer available for sale.



Bajaj Allianz New Risk Care II Plan


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.


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Key Features of Baja Allianz New Risk Care II Plan


  • 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 are quite a few rider options available along with this plan


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Benefits you get from New Risk Care II Plan


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



Eligibility conditions and other restrictions in New Risk Care II Plan






Sum Assured (in Rs.)


No Limit

Policy Term (in years)



Premium Payment Term (in years)


Equal to policy term

Entry Age of Policyholder



Age at Maturity



Single premium

Rs 5,000

No Limit

Payment modes

Yearly, Half-Yearly, Quarterly, Monthly and Single



Sample illustration of premium amount in New Risk Care II Plan


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 




Additional Features and Benefits of New Risk Care II Plan


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



What happens if?


You 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.


You 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


You want a loan against your policy – Loan facility is not available under this policy.

Always compare life insurance plans from different insurance companies to get the best one.


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