Bajaj Allianz Save Assure

Bajaj Allianz Save Assure Plan

Bajaj Allianz Save Assure Plan is a guaranteed returns endowment plan without Bonus facility. In this plan, 115% of the Basic Sum Assured would be paid to the policyholder on survival till the end of the policy tenure as Maturity Benefit. There is also an option to receive the Maturity Benefit in monthly instalments over a period of 5 to 10 years instead of lumpsum.

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Higher Death Benefit
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Less than 5 years term
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High Sum Assured discount
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Key Features

Policy can be opted for a policy tenure of 15 and 17 years
Premium paying term is 5 years less than the policy term
Death Benefit is higher of 115% of the Basic Sum Assured or the Sum Assured on Death
On policy maturity, 115% of the Basic Sum Assured would be paid
High Sum Assured discount available in this plan


Death Benefit

In case of death of the Life Insured within the policy tenure, the nominee receives the higher of

  1.  115% of sum assured
  2. 10 X Annualised Premium for Age less than 45 years and 7 X Annualised Premium for Age 45 years and above subject to a minimum of 105% of total premium paid as Death Benefit and the policy terminates.
Maturity Benefit

At the maturity of the policy, the insured will get 115% of the Sum Assured as Maturity Benefit and the policy terminates.

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. The Maturity Proceeds are also tax free under section 10(10)D under the mentioned clauses.


How it works


You can customize your policy to suit your requirement in the following manner:
Step 1: Choose your Sum Assured
Step 2: Choose your Policy Term
Your premium will be based on your current age, sum assured and policy term.

Let's Understand The Plan With An Example:

Ravi aged 30 years has taken a Bajaj Allianz Save Assure policy for a Policy Term (PT) of 17 years. The Sum Assured chosen by him is
Rs.5,00,000 for which he is paying a premium of Rs.30,605 yearly for premium paying term of 12 years. On maturity date, Ravi will
receive 115% of Rs.5,00,000 (the Sum Assured chosen), i.e., Rs.5,75,000

In case of unfortunate death of Ravi in the 7th policy year, his nominee will receive 115% of Rs.5,00,000 (the Sum Assured chosen),


Premium shown above is exclusive of Service Tax and any extra premium.


  Minimum Maximum
Sum Assured (in Rs.) 1,00,000 No Limit
Policy Term (in years) 15 17
Premium Payment Term (in years) Policy Term – 5 Years
Entry Age (in years) 1 60
Maturity Age (in years) 18 75
Payment modes Yearly, Half-Yearly, Quarterly and Monthly


angle down iconYou stop paying the premium

 If you stop paying the premiums after 3 policy years, the policy acquires a Paid Up Value for a Reduced Sum Assured but the policy would be eligible for any future regular additions. The policy can also be revived within 2 years from the due date of first unpaid premium by paying all due but unpaid premiums with applicable interest.

angle down iconYou want to surrender the policy

There is a Guaranteed Surrender Value after 3 policy years. The Guaranteed Surrender Value of GSV is according to the table:

Year of Surrender 3 4 to 9 10 to 14 15 onwards
% of Premium Paid till Date 30% 50% 55% 60%

However the policy is surrendered after paying 1st or 2nd year’s premium, there is Early Termination Value that is paid since the policy does not accrue any Surrender Value.

No of year’s Full Premium Paid Early Termination Value as % of Premiums paid
1 11%
2 15%
angle down iconYou want a loan against your policy

Loan facility is available under this policy upto 90% of the Surrender Value under the Plan but after at least 3 years’ premiums have been paid in full.