Bajaj Allianz New Risk Care II

 

 

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.

 

Compare Term Insurance Plans

 

 

• 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

COMPARE THIS PLAN WITH OTHER TERM PLANS

Amount you wish to be covered for? 10 Lakhs 15 Lakhs 20 Lakhs 25 Lakhs 30 Lakhs 35 Lakhs 50 Lakhs 75 Lakhs 1 Crore 1.5 Crore 2 Crore 2.5 Crore 3 Crore 4 Crore 5 Crore 10 Crore 15 Crore 20 Crore 25 Crore

Duration of Policy? 5 Years 6 Years 7 Years 8 Years 9 Years 10 Years 11 Years 12 Years 13 Years 14 Years 15 Years 16 Years 17 Years 18 Years 19 Years 20 Years 21 Years 22 Years 23 Years 24 Years 25 Years 26 Years 27 Years 28 Years 29 Years 30 Years 31 Years 32 Years 33 Years 34 Years 35 Years 36 Years 37 Years 38 Years 39 Years 40 Years 41 Years 42 Years 43 Years 44 Years 45 Years 46 Years 47 Years 48 Years 49 Years 50 Years 51 Years 52 Years 53 Years 54 Years 55 Years 56 Years 57 Years 58 Years 59 Years 60 Years

Male Female

Tobacco?

Yes

No

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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

 

 

 

 

	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

 

 

 

 

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

 

 

 

 

 

 

 

 

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

 

 

 

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.