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Bajaj Allianz Term Care Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.

 

 

Bajaj Allianz Term Care Plan

 

This is a variant of the term insurance policy which returns the premiums paid by you on maturity. So if nothing happens to you till the maturity period of the plan, all premiums paid will be returned. There is some additional flexibility in terms of making a single payment and a large number of riders in combinations. Being a return of premium term plan, the premium rates would be higher than the conventional term insurance plans.

 

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Key Features of Bajaj Allianz Term Care Plan

 

§         Premiums paid by you are returned on maturity

§         Option of regular premium or single premium payment

§         Large cover at relatively low costs

Have any doubts that need to be clarified? Request a Call Back

 

Benefits you get from Bajaj Allianz Term Care Plan

 

Death Benefit – The nominee would receive the Sum Assured in case of death of the policy holder during the term of the policy.

 

Maturity Benefit – All premiums paid by you during the term of the policy would be returned to the policy holder.

 

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. Maturity benefits too are tax exempt as per Section 10(10D)

 

 

Eligibility conditions of Bajaj Allianz Term Care Plan

 

 

 

Minimum

Maximum

Sum Assured (in Rs.)

Rs.1,00,000

Rs.10,00,000

Policy Term (in years)

5

40

Premium Payment Term (in years)

Equal to policy term

Equal to policy term

Entry Age of Policyholder

18

50

Age at Maturity

-

65

Regular premium

Rs.1,500

-

Single premium

Rs.6,000

-

Payment modes

Yearly & Half-Yearly

 

 

Sample illustration of premium amount in Bajaj Allianz Term Care Plan

 

The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs.5,00,000 and Policy Term = 25 years. This is for the Basic Economy Variant.

 

Premium values of Term Car Plan for various ages at which policy is bought

 

 Bajaj Allianz Term Care Premium Values

 

 

Clearly, the earlier you buy this policy the cheaper it is.

 

 

Additional Features and Benefits of Bajaj Allianz Term Care Plan

 

Riders – The Term Care Plan has some built-in riders which come in the form of policy variants.

 

 

Policy Variant

Type of Rider Benefit

Economy Package

No Riders

Protect

Accidental death benefit

 

Permanent Total/Partial disability benefit

 

Waiver of premium benefit

Health

Critical illness (or dread diseases) benefit

 

Hospital cash benefit

Total

All the above riders are added

 

 

What happens if?

 

You want to surrender the policy – You can surrender you policy only after 3 full years premiums have been paid. This is not recommended though and should be done only for cash emergencies.

 

You want a loan against your policy – No loans are available against this policy.



 

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