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Bajaj Allianz Save Care Economy

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This plan has been withdrawn by the insurance company and is no longer available for sale.

 

Bajaj Allianz Save Care Economy - Single Premium Plan

 

Bajaj Allianz Save Care Economy - Single Premium Plan is a Traditional Endowment Plan. This is a non unit-linked insurance traditional plan which is a Single Premium Plan for a period of 10 years.

 

This is a simple Endowment Policy where premium needs to be paid in a Lumpsum but the cover remains till the end of the policy term. The Sum Assured along accrued Bonuses are paid to the Life Insured on policy maturity or to the Nominee on earlier Death of Life Insured during the Policy Term.

 

 

Key Features of Bajaj Allianz Save Care Economy - Single Premium Plan

 

  • This plan is an Endowment Plan
  • In this plan, Death or Maturity Benefit is Sum Assured + accrued Bonus
  • Premium needs to be paid in a lumpsum in this plan
  • The Sum Assured is called Minimum Guaranteed Amount that is payable on maturity as it is the least that is due
  • Accrued Bonus is paid along with Minimum Guaranteed Amount on maturity or on earlier death. 
COMPARE THIS PLAN WITH OTHER ENDOWMENT PLANS

 

Benefits you get from Bajaj Allianz Save Care Economy - Single Premium Plan

 

Death Benefit – In case of death of the Life Insured, the nominee receives the Sum Assured, i.e. the Minimum Guaranteed Amount + accrued bonuses.

 

Maturity Benefit – At the maturity of the policy, the Life Insured will get the Sum Assured, i.e. the Minimum Guaranteed Amount + accrued bonuses.

 

Income Tax Benefit – Premiums paid under life insurance policy are exempted from tax under Section 80 C and maturity proceeds are exempted from tax under Section 10 (10D)

 

 

Eligibility conditions in Bajaj Allianz Save Care Economy - Single Premium Plan

 

 

Minimum

Maximum

Sum Assured (in Rs.)

50,000

No Limit

Policy Term (in years)

10

Premium Payment Term (in years)

Single

Entry Age of Life Insured (in years)

0

60

Age at Maturity (in years)

-

70

Single Premium (in Rs.)

26500

No Limit

Payment modes

Single

 

 

Sample illustration of premium of Bajaj Allianz Save Care Economy - SP

 

The below illustration is for a healthy Male (non-tobacco user) opting for a

Age = 40 years

Sum Assured = Rs 50,000 and Rs 1,00,000

Assumed rate of Bonus = 1% Compounded

Bajaj Allianz Save Care Economy Sample Premiums

 

Additional Features and Benefits of Bajaj Allianz Save Care Economy - SP

 

Riders- There are no additional riders in this plan

 

 

What happens if?

 

You stop paying the premium – Being a Single Premium Plan, there is no question of paying future premiums

 

You want to surrender the policy – There is a Surrender Value available in this plan

You want a loan against your policy – Loan facility is available under this policy. The loan amount shall be within 90% of the surrender value.



 

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