bajaj allianz general insurance company limited.docx

Types of Organisation

Bajaj Finserv

Type Private Company

Industry Financial Services

Founder Jamnalal Bajaj

Headquarters Pune, Maharashtra, India

Key people Rahul Bajaj, Sanjiv Bajaj

Products Financial Services, Wealth Services, Insurance

Revenue 4774 Cr₹

Parent Bajaj Holdings & Investments Limited

Subsidiaries Bajaj Finance Ltd., Bajaj Allianz General Insurance

Ltd., Bajaj Allianz Life Insurance Company Ltd.,

Bajaj Financial Services Ltd.

Website www.bajajfinserv.in

S.K.School of Business Management

http://www.bajajfinserv.in/

https://www.bajajallianz.com/Corp/life-insurance/life-insurance.jsp

https://www.bajajallianz.com/Corp/general-insurance/general-insurance.jsp

https://www.bajajallianz.com/Corp/general-insurance/general-insurance.jsp

https://en.wikipedia.org/wiki/Subsidiary

https://en.wikipedia.org/wiki/Parent_company

https://en.wikipedia.org/wiki/Insurance

https://en.wikipedia.org/w/index.php?title=Wealth_Services&action=edit&redlink=1

https://en.wikipedia.org/wiki/Financial_Services

https://en.wikipedia.org/wiki/Rahul_Bajaj

https://en.wikipedia.org/wiki/India

https://en.wikipedia.org/wiki/Pune,_Maharashtra

https://en.wikipedia.org/wiki/Jamnalal_Bajaj

https://en.wikipedia.org/wiki/Financial_Services

https://en.wikipedia.org/wiki/Types_of_business_entity

https://en.wikipedia.org/wiki/File:Bajaj-Finserv-Logo.jpg

Bajaj Allianz General Insurance Company Limited

Bajaj Allianz is a joint venture between Bajaj Finserv Limited (recently demerged from Bajaj

Auto Limited) and Allianz SE. Both enjoy a reputation of expertise, stability and strength.

Bajaj Allianz received the Insurance Regulatory and Development Authority (IRDA) certificate

of Registration on 2nd May, 2001 to conduct various businesses (including Health Insurance

business) in India. The Company has an authorized and paid up capital of Rs 110 crores. Bajaj

Finserv Limited holds 74% and the remaining 26% is held by Allianz, SE.

As on 31st March 2015 Bajaj Allianz maintained its premier position in the industry by

achieving growth as well as profitability. Bajaj Allianz has made a profit before tax of Rs. 777

crores and has become the only private insurer to cross the Rs.100 crore mark in profit before tax

in the last two years. The profit after tax was Rs.562 crores, 39% higher than the previous year.


History of Bajaj Allianz

Bajaj Finserv, a part of Bajaj Holdings & Investments Limited, is an Indian financial services company

focused on lending, asset management, wealth management and insurance.

The company through its joint ventures and subsidiaries employs over 20,000 employees and has established a

nationwide presence across over 1400 locations. The company is currently engaged in consumer finance

businesses, life insurance, and general insurance and has plans to expand its business by offering a wide array

of financial products and services in India.Apart from financial services, Bajaj Finserv is also active in wind–

energy generation.

The financial services and wind energy businesses were transferred to Bajaj Finserv Limited (BFS) as part of

the recently concluded demerger from Bajaj Auto Limited, approved by the High Court of Judicature

at Bombay by its order dated 18 December 2007. The demerger was effective on 31 March 2007.

BFS is engaged in life and general insurance businesses through its joint ventures with Allianz SE namely

Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited.

Bajaj Holdings has been registered as a Non–Banking Financial Company (NBFC) under the Registration No.

N–13.01952 dated 29 October 2009 with Reserve Bank of India (RBI). The company is classified as a

Systemically Important Non–deposit taking NBFC as per RBI Regulations.

Culture @ Bajaj Allianz


https://en.wikipedia.org/wiki/Bombay

https://en.wikipedia.org/wiki/Insurance

https://en.wikipedia.org/wiki/Wealth_management

https://en.wikipedia.org/wiki/Financial_services

Bajaj Allianz will be

A winning team

Have a passion for excellence & hate bureaucracy

Be empowered, have the confidence to take decisions quickly & be accountable

Be driven to achieve results, to deliver

Be professional & socially committed

Be open to ideas, sharing, transparent & trust

Focus everything we do on our customers

Make BALIC a 'great place to work'

Have a sense of humour

The Bajaj Allianz Philosophy

Invest in people - Pay / develop / career planning

Dominate your market - Be decisive / communicate clear goals

Never sit still - change continually / revolutionize

Think service; service; service - continuous improvement

Learn & Lead - Be prepared to listen

Tell the facts are they are - clear communication

Kill bureaucracy - boundary less / idea non management layers / informality /speed

Manage the business like a corner shop - customer satisfaction / cash flow

Growth and Achievements


Bajaj Allianz has received iAAA rating, from ICRA Limited, an associate of Moody's Investors

Service for seven consecutive years. This rating indicates highest claims paying ability and a

fundamentally strong position.

Bajaj Allianz General Insurance was adjudged as the "Best General Insurance Company in

Asia" by Asia Insurance Industry Awards 2014. The award was bestowed on the company for its

outstanding customer service levels, innovations in the field of insurance, and sound financial

management which resulted in consistent profitability over the years. The Company was also

conferred the 'Insurer Claims Team of the year' by Claims Awards Asia 2014. Bajaj Allianz

was recognized as the 'Best Insurance Company of the Year' by ABP News BFSI awards

2015. The company was awarded 'General Insurance Provider of the Year' by Money Today

FDCIL awards 2014.

For the third time in a row, the company was awarded the Allianz Global Innovation Awards

2015 for Excellence in Employee Business, and was also recognized as a Legend in the BFSI

Industry by Brand Vision India 2020 Awards. Bajaj Allianz General Insurance was conferred

the Brand Excellence Award in Non-Life Insurance (Private Sector) by ABP News Brand

Excellence Award 2014 and the Golden Peacock Award 2014 in the category of Innovative

Products and Servic.

Awards and Recognition


Certificate of Appreciation from the Karnataka High Court - National Lok Adalat

Bajaj Allianz General Insurance has been awarded the Certificate of Appreciation by the

Karnataka High Court, for excellence in claims servicing in the field of motor third party claims.

The company is the first in the industry to be felicitated by a High Court, for settling the

maximum number of claims at the Lok Adalat.

Innovations in the BFSI sector - Finnovity 2015 awards

Bajaj Allianz General Insurance has been conferred with the Finnovity 2015 award for

excellence in innovation in the BFSI sector. This award recognizes the company's innovations of

insta pre-policy, online endorsement module and online policy copy, which was presented under

the umbrella of Digitized Policy Servicing Module


General Insurance Provider of the Year award - Money Today FPCIL Awards

2014

Bajaj Allianz General Insurance has been awarded the General Insurance Provider of the Year, at

the Money Today FPCIL awards 2014. The objective of the awards is to recognize and honour

the best organizations and individuals in personal finance space who have extended their

expertise to investors over the past several years.

Best in Diversity Award - TA Annual Leadership League Award 2014

Bajaj Allianz General Insurance Co. Ltd. has been conferred with the Best in Diversity Award at

the TA Annual Leadership League Awards, organized by the People Matters Media Pvt. Ltd on

11th Dec, 2014. These awards recognize the various recruitment best practices in a dynamic

scenario, such as practices inculcated in the system to help materialize the effectiveness of HR.

Insurer Claims Team of the Year at the "Claims Awards Asia 2014"


Bajaj Allianz General Insurance Company has been awarded the "Insurer Claims Team of the

Year" at the "Claims Awards Asia 2014". The ceremony was held in Hong Kong on 19th Nov

2014. This award is a testament to the superior claims management practices of the Health

Claims Team, and recognizes the team's path breaking initiatives to provide the best claim

service to the customers. The prestigious award champions the leaders of General Insurance

claims and risk management sectors across Asia.

Best General Insurance Company of the Year, by Asia Insurance Industry Awards

2014.

Bajaj Allianz General Insurance Co. Ltd. has been conferred with one of the most prestigious

awards - Best General Insurance Company of the Year, by Asia Insurance Industry Awards

2014. The award ceremony was held in Taipei, Taiwan, on 2nd November, 2014.

The company was recognized for its outstanding customer service levels, the innovations in the

field of insurance and the sound financial management which has led to continuous profitability

over the years. This award marks the excellence of the Company in the field of insurance not just

in India but across Asia.

Financial Inclusion and Payment Systems Awards 2014


Bajaj Allianz General Insurance has been declared as the winner under the Health Insurance

Category - for the Innovative work in the area of Health Insurance (Value Added Services and

Wellness Initiatives) at the Financial Inclusion and Payment Systems Awards 2014.

Best Travel Insurance Company by CNBC AWAAZ Travel Awards 2014.

Bajaj Allianz General Insurance has been conferred as the Best Travel Insurance Company by

CNBC AWAAZ Travel Awards 2014.

Personal Lines Growth Leader Award at the Indian Insurance Awards 2014.

Bajaj Allianz has won the "Personal Lines Growth Leader" Award at the Indian Insurance

Awards 2014.

Golden Peacock Award 2014

Bajaj Allianz has been conferred with the Golden Peacock Award in the category- Innovative

Product/Service for EEZEE TAB.

The Golden Peacock Innovative Product/Service Award is given to a product or service which


shows a quantum leap in the utilization of current technology to achieve maximum customer

satisfaction at a minimum cost. The Golden Peacock Awards (GPA) are a set of prestigious

national and global awards, organized by the Institute of Directors, designed to improve

productivity and quality in organizations.

Best Insurance Company in the Private Sector - 2014

Bajaj Allianz General Insurance has won the award for "Best Insurance Company in the Private

Sector - General" by ABP News - Banking, Financial Services & Insurance Awards.

The BFSI Awards 2014 recognizes the best performances of various Banking, Finance &

Insurance Services. The award focuses on the best practices in the BFSI Industry based on their

strategy, security, customer service, and the future technology challenges and innovations. This

award recognizes our organizational values and contribution.

Claims Awards Asia 2013

Bajaj Allianz General Insurance has won the Claims Awards Asia 2013 in the category Claims

Innovation of the Year in the Asia Pacific Region for its Tablet based claims module application.


This award is instituted by Insurance Insight, a prominent Insurance magazine in Asia and a part

of Post, UK. Insurance Insight's Claims Club Asia, is an award that recognizes the Asian general

insurance claims and risk management sectors by rewarding the dedicated teams and individuals

for their achievements over the last 12 months.

General Insurance Company of the Year 2013

The Indian Insurance Awards 2013 was conducted by Fintelekt, part of SP Media Pvt Ltd, a

specialist in research, consulting and conferences in the financial services industry.

Claims Service Company of the Year 2013




Personal Lines Growth Leadership Award Year 2013



General Insurance Provider of the Year

General Insurance Provider of the Year at the Money Today FPCIL Awards 2012.

Best General Insurance Provider- Private Sector

Best General Insurance Provider- Private Sector at the CNBC TV18 India Best Bank and

Financial Institution Award FY 11 and 12.


Bloomberg UTV Financial Leadership Award 2012

General Insurer of the Year-Private Sector by Bloomberg UTV Financial Leadership Awards

2012.

Best Bank and Financial Institutions Award

Best Leading Player- Non Life by CNBC TV18 IBFA Best Bank and Financial Institutions

awards FY11.

Best Contribution on Investor Education and Category Enhancement

Best Contribution on Investor Education and Category Enhancement by Bloomberg UTV

Financial Leadership Awards 2011.


Best Travel Insurer awarded by CNBC 2011Best Travel Insurer awarded by CNBC Awaaz Travel Award 2011.

Best Travel Insurer awarded by CNBC 2010.

Summary of Plan and Products

(A) Life insurance

(1) Bajaj Allianz Term Insurance Plans

iSecure Term Insurance

iSecure More Life Secure Life Style Secure

(2) Saving plan Save Assure Guarantee Assure Cash Assure

(3) Investment Plan Elite Assure Fortune Gain Cash Assure

(4) Retirment Plan Pension Guarantee Retire Rich


(5) ULIP Plan Fortune Gain Future Gain

(6) Child Plan Lifelong Assure Young Assure

(7) CSC Bachat Plus Plan

(B) General insurance

(1) Car insurance

(2) Two Wheeler and Bike insurance

(3) Travel insurance Plan

Travel insurance for Individuals Travel insurance for Family Travel insurance for Senior Citizens Travel insurance for Students

(4) Health insurance

Health Guard individual policy Health Guard family floater option Extra Care Premium personal guard policy Health insurance critical illness

(5) Home insurance

My home insurance House Holders package policy


(A.) Life insurance

1.) Bajaj Allianz Term Insurance Plans

he sole object of a term insurance policy is to protect the customer's family from the financial

implications of unfortunate circumstances that one cannot foresee.

These term insurance plans are pure risk cover plans with or without maturity benefit. These pure

risk plans cover your life at a nominal cost and you may want to take this term insurance plan to

cover your outstanding debts like a mortgage, a home loan etc.

iSecure Term Insurance

Bajaj Allianz iSecure places itself as one of the safest term insurance plans in India. It offers you

the choice to cover your spouse as well jointly with yourself. You can customize your term

insurance policy to suit your requirements by following the steps as follows:

Step 1 : Choose either individual or a joint life term insurance cover

Step 2 : Choose your sum assured(s) (Life Cover)

Step 3 : Choose your policy term & premium payment frequency

Step 4 : If sum assured chosen is Rs.20,00,000 & above, you may choose your lifestyle category

either "Non-Smoker1" or "Smoker1"


Your term insurance premium will be based on your current age(s), sum assured(s), lifestyle

category (if applicable), policy term and premium payment frequency.

In case of unfortunate demise, the dependents will receive the death benefit as promised by the

term insurance company.

This categorization is available for sum assureds of Rs.20,00,000 & above and subject to medical

examination/tests as decided by the term insurance company.

A Non-smoker who has no abnormalities in his medical examination/tests or family/personal

history; has no risky avocation and does not have a risky occupation, as decided by the

Company, is classified as a Preferred Non-Smoker.

Tax Benefits

Premiums paid are eligible for tax benefits as per Section 80C of the Income Tax Act

Death benefit(s) are eligible for tax benefits as per Section 10 (10D) of the Income Tax Act.

Subject to the provision stated therein.

Death Benefit

A. Individual Life

In case of unfortunate death of life assured during the policy term, provided all premiums are

paid up to date, the benefit will be Sum Assured

The policy cover will terminate immediately on death of the life assured

B. Joint Life

The death benefit is payable on death of each life, provided the policy is in-force. The benefit

payable will be Sum Assured


On death of any one of the life assureds, the term insurance policy will automatically continue

on the surviving life assured with a reduced premium. The reduced premium will be based on

the age, lifestyle category (if applicable), policy term, premium payment frequency and sum

assured of the surviving life assured as at the inception of the policy

This term insurance policy cover will terminate immediately on death of the surviving life

assured

ParameterEligibility

Minimum Entry Age 18 yearsMaximum Entry Age 60 years

Minimum Sum AssuredRs.250,000 for general category and Rs.20,00,000 for the categories split by Preferred Non-Smoker1 , Non-Smoker1 & Smoker

Maximum Sum Assured No LimitPolicy Term 10, 15, 20, 25 & 30 years

Minimum Installment Premium

Sum Assured YearlyHalf-Yearly

Quarterly Monthly*

Less than Rs.2,000,000

Rs.1000 Rs.500 Rs.250 Rs.100

Greater than or equal to Rs.2,000,000

Rs.3000 Rs.1500 Rs.750 Rs.250

Minimum Maturity Age 28 yearsMaximum Maturity Age 70 years


iSecure More

SA Band% Rebate (reb%) for Age

Band< = 30 31 - 40 41 - 50 > = 51

500,000 to 999,999 10.00% 5.00% 2.50% 2.50%1,000,000 to 1,999,999 17.50% 7.50% 5.00% 2.50%2,000,000 to 4,999,999 20.00% 10.00% 5.00% 5.00%5,000,000 & above 25.00% 10.00% 7.50% 5.00%

The premium rate for joint life will be arrived at by allowing rebate on the total of the gross premium# applicable to the individual lives. The joint life rebate (JLR) for joint life is as below

Age of Older Life Assured< = 40 41 to 50 > = 51

JLR as % of the total Gross Premium# applicable to the individual lives

5% 3% 1%

Parameter EligibilityMinimum Entry Age 18 yearsMaximum Entry Age 60 yearsMinimum Sum Assured Rs. 2,50,000Maximum Sum Assured No Limit (subject to the Sum Assured multiples)Policy Term 10, 15, 20 & 25 years

Minimum Installment Premium

Rs. 1,500 per yearly installmentRs. 750 per half-yearly installmentRs. 400 per quarterly installmentRs. 150 for monthly installment**Monthly premium payment frequency will be available under salary deduction scheme & ECS. It will not be available at the inception of the policy.

Minimum Maturity Age 28 years


Parameter EligibilityMaximum Maturity Age 70 years

Sum Assured Multiples

Sum Assured Band Multiple

Upto Rs. 4,00,000 Rs.50,000

Rs. 4,00,000 - 45,00,000 Rs.1,00,000

Rs. 45,00,000 and above Rs.5,00,000

Tax Benefits

Premiums paid are eligible for tax benefits as per Section 80C of the Income Tax Act

Death benefit(s) are eligible for tax benefits as per Section 10 (10D) of the Income Tax Act.

Life Secure

Bajaj Allianz Life Secure- Assuring you protection for a lifetime.

We all wish for protection at all stages of our life, but most of the time achieving this through-

out our life is very difficult.

Helping you with a solution, we at Bajaj Allianz Life Insurance present Bajaj Allianz Life Secure

- a unique term insurance plan that provides you complete protection till your 100th birthday, so

that you can live worry-free for a lifetime.


http://www.bajajallianz.com/Corp/term-insurance/isecure-insurance-plan.jsp

Key Advantages

Bajaj Allianz Life Secure is a whole life plan that provides term assurance cover, accidental

death cover and critical illness cover, depending on your choice. The key advantages of this plan

are:

Three coverage options to choose from:

o Option I - Death Benefit

o Option II - Death Benefit plus Accidental Death Benefit

o Option III - Death Benefit or Accelerated Critical Illness plus Waiver of Premium Benefit

Life cover up to the age of 100 years

Choice of 4 Premium Payment Terms (PPTs), viz., 5, 7, 10 or 15 years

More value for money with High Sum Assured Rebate

Attractive premium rates for female lives

How does the Bajaj Allianz Life Secure Work?

You can customize your policy to suit your requirement in the following manner:

Step 1 : Choose your coverage option^

Step 2 : Choose your Sum Assured

Step 3 : Choose your Premium Payment Term (PPT)

Your premium will be based on your current age, gender, Sum Assured, coverage option, PPT &

premium payment frequency.


Benefits Payable

The benefit payable will be as per the below mentioned coverage option chosen at inception of

the policy:

For Coverage Option I(Only Death Benefit)

o On death of the life assured during the policy term: Sum Assured on Death will be paid

and the policy will terminate.

For Coverage Option II (Death Benefit plus Accidental Death Benefit)

o On death of the life assured during the policy term: Sum Assured on Death will be paid


o On death of the life assured due to accident, before reaching age 65 years: Sum Assured

on Death plus an additional Sum Assured subject to maximum of Rs. 2 crores, will be paid


For Coverage Option III (Death Benefit OR Accelerated Critical Illness plus Waiver of

premium Benefit)

o On occurrence of first Critical Illness on the life of the life assured before attaining age

65 years and during the first 30 years of the policy: 50% of Sum Assured on Death, subject

to maximum of Rs. 50 lacs, will be paid and all future premiums due under your policy, if

any, will be waived. Policy will remain in-force for death benefit for the remaining Sum

Assured on Death. No benefit is payable with respect to any future critical illness on the life

of the life assured.

o On death during the policy term, after critical illness benefit has been paid: the remaining

Sum Assured on Death will be paid and the policy will terminate.

o On death during the policy term, before any critical illness benefit has been paid: Sum

Assured on Death will be paid and the policy will terminate.

If death benefit has not been paid before the life assured attains age 100 years, the below

mentioned benefit will be paid and the policy will terminate:

o If critical illness benefit has not been paid, Sum Assured.

o If critical illness benefit has been paid, Sum Assured Minus Amount of critical illness

benefit paid.


The Sum Assured on Death is defined as:

For age at entry less than 45 years, higher of (i) 10 times Annualised Premium*, (ii) 105% of

total premiums paid till date of death or (iii) Sum Assured

For age at entry 45 years & above, higher of (i) 7 times Annualised Premium*, (ii) 105% of total

premiums* paid till date of death or (iii) Sum Assured

Policy Features

High Sum Assured Rebate (HSAR)

The plan offers an attractive premium discount based on Coverage Option, chosen Sum Assured,

Age and Premium Paying Term (PPT). A discount will be available on the annual premium for

each complete additional Rs. 1,00,000 Sum Assured purchased over and above the minimum

Sum Assured of Rs. 20,00,000 as mentioned in the table below:

Coverage

OptionHigh Sum Assured Rebate applicable for Sum Assured band

I above the minimum Sum Assured of Rs. 20,00,000

IIabove the minimum Sum Assured of Rs. 20,00,000 and up to Sum Assured of

Rs. 2,00,00,000

IIIabove the minimum Sum Assured of Rs. 20,00,000 and up to Sum Assured of

Rs. 1,00,00,000

High Sum Assured Rebate

PPT (years) 5 7 10 15

Below age 45 Rs. 152 Rs. 115 Rs. 90 Rs. 71

Age 45 & above Rs. 113 Rs. 88 Rs. 70 Rs. 56


Tax Benefits

Premium paid are eligible for tax benefits under section 80C of the Income Tax Act. Death,

accidental death, critical illness and surrender benefits are eligible for tax benefits under Section

10(10D) of the Income Tax Act, subject to the provision stated therein.

Surrender Benefit

You will have the option to surrender your policy provided at least

o First two full years' premiums have been paid if the PPT under your policy is less than 10

years or

o First three full years' premiums have been paid if the PPT under your policy is 10 or more

years

The surrender value payable will be the higher of the guaranteed surrender value (GSV) or the

special surrender value (SSV).

Product Terms and Conditions Parameter Details

Minimum Entry Age 25 years

Maximum Entry AgeCoverage Option I & II: 55 years Coverage Option III: 50 years

Policy Term (100 minus Age at Entry) years

Premium Paying Term 5, 7, 10 and 15 years

Minimum PremiumInstallments Yearly

Half-Yearly

Quarterly Monthly

Rs 36,720 18,727 9,547 3,305

Maximum Premium No limit

Minimum Sum Assured Rs. 20,00,000

Maximum Sum AssuredNo limit Sum Assured has to be opted in multiples of Rs. 50,000

Premium Payment Frequency Yearly, Half yearly, Quarterly and Monthly#


LifeStyle Secure

We are all used to a certain lifestyle. But life is full of uncertainties, and unfortunate events that

can leave you unable to support your family financially, the way you had planned. It's a scary

thought not being able to secure your family's current lifestyle (and needs) in the future.

Providing a solution, we present Bajaj Allianz LifeStyle Secure - a risk cover (term assurance &

terminal illness cover) plan that assures financial protection to your family, so they have the

security of maintaining their current lifestyle and you, the smile of a worry-free life.

Advantages

Bajaj Allianz LifeStyle Secure is a non-linked, non-participating regular premium payment

insurance plan that provides level cover term assurance or terminal illness benefit. The key

advantages of this plan are:

Security for your family with regular income

Inbuilt Accelerated Terminal Illness (TI) risk cover

Simple procedure to get risk cover

No medical examination/tests required

Plan benefit paid in equated monthly installments

More value for money with High Sum Assured Rebate

How does the Bajaj Allianz LifeStyle Secure Work?


Step 1 : Choose your Sum Assured

Step 2 : Choose your Policy Term (PT)

Your premium will be based on your current age, gender, Sum Assured, policy term& premium

payment frequency.


Benefits Payable

Death & Terminal Illness

If all due premiums are paid under the policy, then, in case of unfortunate death or Terminal

Illness (TI) of the life assured, whichever is earlier, the nominee/claimant will receive the Sum

Assured in equated monthly installments as per the table below:

Policy Term (in years) 5 7 10 15 20

Death/ TI benefit is paid over (in Months) 60 84 120 180 240

Maturity

No maturity benefit shall be payable on survival till the end of the policy term.

Surrender

No surrender benefit is payable under the Policy.

Additional Features

High Sum Assured Rebate

The plan offers an attractive premium discount structure, where you can have a discount on the

annual premium for each complete additional Rs. 1,000 Sum Assured purchased over and above

the minimum Sum Assured of Rs.3,00,000 is Rs. 2.75.

Tax Benefits

Premium paid are eligible for tax benefit under Section 80C of the Income Tax Act and death

benefit is eligible for tax benefit under Section 10(10D) of the Income Tax Act, subject to the

provision stated therein.

You are requested to consult your tax consultant before claiming any benefit under the policy


Parameter Eligibility

Minimum Entry Age 18 yearsMaximum Entry Age 50 yearsMinimum Age at Maturity 23 yearsMaximum Age at Maturity 60 yearsPolicy Term 5/ 7/ 10/ 15/ 20 yearsPremium Payment Frequency

Yearly, Half yearly, Quarterly and Monthly

Premium

Mode YearlyHalf-

YearlyQuarterly Monthly

Minimum Premium (in Rs.)

1,466 748 381 132

Maximum Premium (in Rs.)

20,458 10,434 5,319 1,841

Minimum Sum Assured Rs. 3,00,000Maximum Sum Assured Rs. 15,00,000

2.) Savings Plans


At Bajaj Allianz, we believe in putting the needs of the customer first, always. We understand

your dreams for the future and your desire to provide for your family even after you are gone.

We offer a range of insurance-cum-saving plans that will help you plan for various life goals. At

the same time, they will protect your family against unforeseen circumstances so that their

dreams never have to end.

With Bajaj Allianz Life Insurance, you can make your dreams come true by creating an effective

savings plan, which will protect you against unexpected hardship

Save Assure

We always feel good to get more than what we expect, and even more when it's "guaranteed"*.

Presenting "Bajaj Allianz Save Assure" - a traditional endowment plan that not only secures you

and your family but also guarantees 115% of your sum assured. Living worry free is now

guaranteed

Features

Bajaj Allianz Save Assure is a Limited Premium Payment, Non-Participating, Non Linked, Individual Endowment Plan. The key features are:

Guaranteed maturity/death benefit of 115% of the sum assured* Choice of 2 policy terms, 15 and 17 years. Premium Payment Term of 10 and 12 years. Option to take policy benefit in monthly installments over a period of 5 or 10 years. More value for money with high Sum Assured rebate on premium. Option to enhance your coverage with rider benefits

How Does Your Plan Work?



https://www.bajajallianz.com/Corp/life-insurance/riders.jsp

Step 1: Choose your Sum Assured

Step 2: Choose your Policy Term

Am I Eligible?Eligibility Parameter

Minimum Entry Age 1 year

Maximum Entry Age 60 years

Minimum Age at Maturity 18 years

Maximum Age at Maturity 75 years

Policy Term 15 & 17 years

Premium Paying TermPolicy term selected less than 5 years

Minimum Premium

FrequencyPolicy

Term 15Policy

Term 17

Yearly Rs.8,140 Rs.6,620

Half-Yearly Rs.5,000 Rs.4,200

Quarterly Rs.2,500 Rs.2,100

Monthly** Rs.1,000 Rs.800

Maximum Premium No Limit

Minimum Sum Assured Rs. 100,000

Maximum Sum Assured No Limit

Premium Payment FrequencyYearly, Half Yearly, Quarterly and Monthly**

Maturity Benefit

On the maturity date 115% of the sum assured chosen will be paid as maturity benefit, provided

all due premiums have been paid.


Surrender Benefit

You will have the option to surrender your policy provided at least 3 full years' premiums have

been paid.

The surrender value shall be higher of the Guaranteed Surrender Value(GSV) and the Special

Surrender Value(SSV) will be payable at any time of surrender throughout the term of the policy.

Death Benefit

If all due premiums are paid, then, in case of unfortunate death of the life assured during the

policy term, the Sum Assured on Death as mentioned below will be payable as death benefit to

the nominee :

Entry Age Sum Assured on Death will be higher of

Less than 4510 times annualised

premium***

105% of total

premium*** paid

115% of sum

assured

Equal to or greater

than 45

7 times annualised

premium***

105% of total

premium*** paid

115% of sum

assured

*** Annualised premium and total premium taken are excluding any extra premium and/or any

service tax and cess on premium.

Guarantee Assure

We spend our lives securing a better future for our families and nothing ever seems enough to

cover the uncertainties that may occur. Understanding the same, we present to you Bajaj Allianz


Guarantee Assure - a non-linked, non-participating, individual limited premium endowment plan

that helps you live a worry free life.

Key Features

Fixed premium payment term of 5 years

Choice of 3 policy terms - 7, 8 and 9 years

Guaranteed Addition of up to 63% of Sum Assured on Maturity

Ensures more value for money with high sum assured rebate

Attractive premium rates for female lives

Option to take policy benefit in monthly installments over a period of 5 or 10 years

How Does your Saving Plans Work?



Step 2: Choose your Policy Term(PT)

Am I Eligible?

Eligibility Details






http://www.bajajallianz.com/Corp/savings-plans/savings-plans.jsp

Eligibility Details

Policy Term 7, 8 & 9 years

Premium Paying Term 5 years

Minimum Premium Frequency Yearly

Half-Yearly

Quarterly Monthly*

Premium Rs.23,839 Rs.12,158 Rs.6,198 Rs.2,145

Maximum Premium No Limit


Maximum Sum Assured No Limit

Premium Payment Frequency Yearly, Half Yearly, Quarterly and Monthly

Maturity Benefit

You will receive the Sum Assured chosen by you and the accumulated Guaranteed Additions as maturity benefit on the maturity date, provided all due premiums have been paid.

The Guaranteed Additions that accrue at the end of every policy year in your policy depends on the policy term chosen by you and are as follows

Policy Term Guaranteed Addition

7 Years 5% of Sum Assured every year



Death Benefit

If all due premiums are paid, then, in case of unfortunate death of the life assured during the

policy term the death benefit payable will be 'Sum Assured on Death' plus accrued Guaranteed

Additions.

Sum Assured on Death will be higher of

i) 5 times the Annualised premium


ii) 105% of the total premiums paid as on the date of death or

iii) Sum Assured

The policy will terminate immediately on death of the life assured

Cash Assure

All your life, you strive to provide "The Best" to your loved ones & work towards ensuring that

they accomplish their dreams & aspirations. For providing them happiness and additional wealth

at every stage of life, Bajaj Allianz Life Insurance presents 'Bajaj Allianz Cash Assure', a

traditional money back plan which provides protection & compulsory savings. It provides lump

sum payouts at regular intervals to meet your interim financial requirements and provide the best

to your family.

Advantages

Bajaj Allianz Cash Assure is a non-linked, participating individual limited premium money back

plan. The key advantages of this plan are:

Money backs at regular intervals

Guaranteed Money Back of upto 150% of the Sum Assured, depending on policy term chosen

Choice of 4 policy terms, 16, 20, 24 and 28 years

Benefit from shorter premium payment term

More value for money with high sum assured rebate

Special rates for female policyholders

How Does your Plan Work?




Step 3: Choose your Premium Payment Frequency


Your premium will be based on Sum Assured, gender, age, policy term and premium payment

frequency. The Policy Term chosen will determine your money backs and the intervals for

receiving those money backs.

Survival & Maturity Benefit

If you have paid all due premiums under your policy, you will receive the Survival Benefit as

Money Backs on each due date and the Maturity Benefit on the maturity date.Money Backs are

paid to you at the end of the policy years as mentioned in the below table:

Money Back PT 16 years PT 20 years PT 24 years PT 28 years1st 4th 5th 6th 7th

2nd 8th 10th 12th 14th

3rd 12th 15th 18th 21st

The Maturity Benefit will be paid on the maturity date (end of the policy term)

Your Survival Benefit and Maturity Benefit are payable as mentioned in the table below:

Policy Term 16 years 20 years 24 years 28 years

Money Back (%)15% of Sum Assured

20% of Sum Assured

25% of Sum Assured

30% of Sum Assured

Maturity Benefit 60% of Sum Assured + Vested Bonus, if any + Terminal Bonus, if any

Death Benefit

If all due premiums are paid, then, in case of unfortunate death of the Life Assured during the

policy term, the Sum Assured on Death* plus Vested Bonus, if any, plus Interim Bonus, if any,

plus Terminal Bonus, if any, subject to a minimum of 105% of the total premiums# paid will be

paid as the Death Benefit

Parameter DetailsMinimum Entry Age 0 year


Parameter DetailsMaximum Entry Age 54 yearsMinimum Age at Maturity 18 yearsMaximum Age at Maturity 70 yearsPolicy Term 16, 20, 24 and 28 yearsPremium Paying Term Policy Term minus 5 years

Minimum Premium (In Rs.)

Policy Term Yearly Half-yearly Quarterly Monthly

16 years 9,000 5,000 3,000 900

20 years 8,000 4,500 2,500 800

24 years 7,000 4,000 2,300 700

28 years 6,500 3,500 2,000 650

Premium for female life will be based on the premium rate of 3 years younger male

Maximum Premium As per the Sum Assured chosenMinimum Sum Assured Rs. 1,00,000Maximum Sum Assured Subject to underwritingPremium Payment Frequency

Yearly, Half yearly, Quarterly and Monthly**

**The monthly mode will be allowed only under the salary deduction scheme and ECS

3.) Investment Plans

At Bajaj Allianz, we believe in putting the needs of the customer first, always. We understand

your dreams for the future and your desire to provide for your family even after you are gone.

We offer a range of investment insurance plans that will help you plan for various life goals. At


the same time, they will protect your family against unforeseen circumstances so that their

dreams never have to end.

With Bajaj Allianz, you can make your dreams come true by choosing an efficient investment

insurance plan, which will protect you against unexpected hardships.

Elite Assure

You wish to achieve success in everything that you cherish to do. Life is all about choices and

choosing the right option. It's obvious that you plan your life as well as your finances to

complement the best for all seasons. It is thus essential to have a balanced investment portfolio

across all asset types, hence the option of life cover with an attractive return always stands tall.

Presenting Bajaj Allianz Elite Assure, a traditional savings plan that offers the most attractive

return while protecting your family.




Step 2: Choose your Premium Paying Term


Step 4: Choose your Guaranteed Maturity Benefit (GMB)

Your premium will be based on GMB, age, policy term, premium payment term and premium

payment frequency. Your Sum Assured is 10 times of Annualised Premium

Maturity Benefit

The Maturity Benefit is Guaranteed Maturity Benefit (GMB) plus Guaranteed Loyalty Additions (GLA) plus Vested Bonus (VB) plus Interim Bonus (IB), if any, plus Terminal Bonus (TB), if any. VB as declared, will be attached every policy year starting from your first policy year

GLA, as % of GMB, will be attached to the policy at the end of each policy year starting from the end of 10thpolicy year.

GLA, as % of GMB and the total GLA payable at maturity depends on the premium payment term and policy term chosen as shown in the table below:


Premium Payment Term (years)

7 10 15 20 25 30

Policy Term (years)

15 20 25 30 15 20 25 30 15 20 25 30

Guaranteed Loyalty Additions

3% 3% 3% 3% 7% 7% 7% 7% 15% 15% 15% 15%

Total Guaranteed Loyalty Additions

18%

33%

48%

63%

42%

77%

112%

147%

90%

165%

240%

315

Death Benefit


policy term, the death benefit payable will be Sum Assured on Death1 plus Guaranteed Loyalty

Additions plus Vested Bonus, if any plus Interim Bonus, if any plus Terminal Bonus, if any,

subject to Guaranteed Death Benefit of 105% of the total premiums* paid till the date of death.1Sum Assured on Death is the higher of:

Guaranteed Maturity Benefit

Sum Assured

Eligibility Condition

Eligibility Parameter




Eligibility Parameter



Policy Term 15, 20, 25 and 30 years

Premium Paying Term 7, 10 & equal to Policy Term

Premium As per the chosen Guaranteed Maturity Benefit

Sum Assured 10 times of Annualized Premium

Guaranteed Maturity Benefit (GMB Minimum - Rs. 5,00,000Maximum - No Limit

Premium Payment Frequency Yearly, Half yearly, Quarterly and Monthly#

#The monthly mode will be allowed only under salary deduction scheme and ECS

Fortune Gain

An intelligent investor deserves a smart plan that provides the maximum benefit from every

ounce of investment made; making sure the deduction in charges are minimum. We present one

such smart solution - Bajaj Allianz Fortune Gain - a Unit-Linked Single Premium Endowment

Plan that provides up to 99.5% premium allocation to make sure that your valuable money is

fully utilized towards building you a fortune.


Advantages

Bajaj Allianz Fortune Gain is a non-participating, individual, single premium Unit-Linked endowment plan. The key advantages of Bajaj Allianz Fortune Gain are as follows

99.5% premium allocation for single premium 10 lacs and above Loyalty Additions of 3% of the single premium depending on the single premium & policy term

chosen Choice of seven (7) funds Option to make partial withdrawals from the funds Option to pay top-up to the extent of the single premium paid. Option to decrease sum assured Systematic switching option to manage your investments better Options to take maturity benefit in installments (Settlement Option).

Maturity Benefit

Under Bajaj Allianz Fortune Gain, the maturity benefit will be the single premium fund value

plus top up premium fund value, if any, both as on the maturity date, provided the policy is in-

force.

Death Benefit

In case of unfortunate death before the maturity date, provided the policy is in-force, the death

benefit payable to the nominee as a lump-sum (subject to the Guaranteed Death Benefit*) is:

(i) The higher of the sum assured or single premium fund value PLUS

(ii) The higher of top-up premium sum assured or top-up premium fund value, if any [All the

above as on date of receipt of intimation of death].

If death of the life assured occurs before attaining age 60 years, then, the sum assured shall be

reduced to the extent of any partial withdrawals made from the single premium fund during the

two year period immediately preceding the death of the life assured.

If death of the life assured occurs on or after attaining age 60 years, then, the sum assured shall

be reduced to the extent of any partial withdrawals made from the single premium fund during


the two year period before attaining age 60 and all the partial withdrawals made from the single

premium fund after attaining age 60.

The partial withdrawal made from the top up premium fund shall not be deducted for this

purpose.

* The guaranteed death benefit applicable throughout the policy term is 105% of the total

premiums paid including top-up premiums paid, if any, till the date of death.

Loyalty Additions

Your policy will be entitled for loyalty additions as per the below table. The addition, expressed as a percentage of the single premium, will be added to the single premium fund value at the maturity date of your policy.

Policy TermSingle Premium

50,000 to 99,999 100,000 & above

7 to 10 Nil Nil

10 to 30 Nil 3%

No loyalty addition is payable on any top-up premium paid.

Surrender Benefit

You have the option to surrender your ULIP policy at anytime.

On surrender during the lock-in period of first five years, the single premium fund value, less the

discontinuance/surrender charge plus the top up premium fund value, if any, as on the date of

surrender, will be transferred to the discontinued life policy fund (maintained by the company),

and life cover shall cease immediately. The discontinuance value as at the end of the lock-in

period will be available to you as surrender value.


On surrender after the lock-in period of first five years, the surrender value available will be

single premium fund value plus top up premium fund value, if any, as on the date of surrender.

The policy shall thereafter terminate upon payment of the full surrender value by the company.

Eligibility table

Parameter Details





Minimum Policy Term 7 years

Maximum Policy Term 30 years

Minimum Single Premium Rs. 50,000

Maximum Single Premium No Limit

Premium Payment Frequency Single

Minimum Sum Assured 1.25 times single premium if Age at Entry < 45 yrs1.1 times single premium if Age at Entry >= 45 yrs

Maximum Sum Assured X * single premium, where X is based on age at entry and Policy term as mentioned below

Policy TermAge at entry

1 - 20 21 - 30 31 - 35 36 - 44 45 above

7 - 10 10 10 10 5 1.5

11 - 15 10 10 8 3 1.5

16 - 20 10 8 5 3 1.5

21 - 25 10 6 4 2 1.5


Parameter Details

26 - 30 10 5 3 2 NA

Minimum & Maximum Sum Assured on Top up Premium

AgeTop-Up Sum Assured

Multiplier

Less than 45 years 1.25 times top-up premium

Greater than or equal to 45 years

1.1 times top-up premium

Cash Assure

All your life, you strive to provide "The Best" to your loved ones & work towards ensuring that

they accomplish their dreams & aspirations. For providing them happiness and additional wealth

at every stage of life, Bajaj Allianz Life Insurance presents 'Bajaj Allianz Cash Assure', a

traditional money back plan which provides protection & compulsory savings. It provides lump

sum payouts at regular intervals to meet your interim financial requirements and provide the best

to your family.


Advantages

Bajaj Allianz Cash Assure is a non-linked, participating individual limited premium money back

plan. The key advantages of this plan are:

Money backs at regular intervals

Guaranteed Money Back of upto 150% of the Sum Assured, depending on policy term chosen

Choice of 4 policy terms, 16, 20, 24 and 28 years

Benefit from shorter premium payment term

More value for money with high sum assured rebate


How Does your Plan Work?





Your premium will be based on Sum Assured, gender, age, policy term and premium payment

frequency. The Policy Term chosen will determine your money backs and the intervals for

receiving those money backs.

Survival & Maturity Benefit

If you have paid all due premiums under your policy, you will receive the Survival Benefit as

Money Backs on each due date and the Maturity Benefit on the maturity date.

Money Backs are paid to you at the end of the policy years as mentioned in the below table:

Money Back PT 16 years PT 20 years PT 24 years PT 28 years

1st 4th 5th 6th 7th

2nd 8th 10th 12th 14th


Money Back PT 16 years PT 20 years PT 24 years PT 28 years

3rd 12th 15th 18th 21st

The Maturity Benefit will be paid on the maturity date (end of the policy term)

Your Survival Benefit and Maturity Benefit are payable as mentioned in the table below:

Policy Term 16 years 20 years 24 years 28 years

Money Back (%)

15% of Sum Assured

20% of Sum Assured

25% of Sum Assured

30% of Sum Assured

Maturity Benefit

60% of Sum Assured + Vested Bonus, if any + Terminal Bonus, if any

Death Benefit


policy term, the Sum Assured on Death* plus Vested Bonus, if any, plus Interim Bonus, if any,

plus Terminal Bonus, if any, subject to a minimum of 105% of the total premiums # paid will be

paid as the Death Benefit.

This death benefit will be paid even after Survival Benefit has commenced during the policy

term.

*Sum Assured on Death is the higher of: (a) 10 times of annualised premium# OR (b) Sum

Assured

#Annualized Premium and total premium is exclusive of extra premium, rider premium, service

tax & cess, if any

The policy will terminate on the date the Company is informed of the death of the life assured.

Parameter Details





Policy Term 16, 20, 24 and 28 years


Parameter Details

Premium Paying Term Policy Term minus 5 years

Minimum Premium (In Rs.)

Policy Term Yearly Half-yearly Quarterly Monthly

16 years 9,000 5,000 3,000 900

20 years 8,000 4,500 2,500 800

24 years 7,000 4,000 2,300 700

28 years 6,500 3,500 2,000 650

Premium for female life will be based on the premium rate of 3

years younger male

Maximum Premium As per the Sum Assured chosen


Maximum Sum Assured Subject to underwriting

Premium Payment Frequency Yearly, Half yearly, Quarterly and Monthly**

4.) Retirement Plans

At Bajaj Allianz Life Insurance, we believe in putting the needs of the customer first, always.

We take the time to understand your current lifestyle and your life goals, and work with you

steadily to build a secure and comfortable retirement plan for your future. Our plans are geared

towards helping you do so without sacrificing your needs of today.

One of the best ways to create a good retirement plan for living an independent life even when

you retire is choosing Bajaj Allianz Life Insurance policies. Having a retirement plan in place

will help you fulfill all those dreams that you aspire during your hard working days.


With Bajaj Allianz, you can keep following your passion, even as you protect your future. An

effective way of availing beneficial facilities would be purchasing the retirement plan online.

Pension Guarantee

Your date of retirement is closing in. You want something that gives you and your spouse an

assured income long after you're retired. We at Bajaj Allianz Life Insurance are aware of this

need, and have come up with a plan that lasts you for a lifetime. Invest your savings in the Bajaj

Allianz Pension Guarantee, a plan that gives you a guaranteed income so that you will live

worry-free for a lifetime.

With Bajaj Allianz Pension Guarantee, you can ensure a regular income after retirement. This

retirement plan offers you a range of immediate annuities to choose from. The immediate

annuity options available are:

Option Detail

Option ALife annuity-The annuity is paid to the policyholder as long as he/she is alive.

Option B

Life annuity with Return of Purchase Price-

The annuity is paid to the annuitant as long as he/she is alive. On death of the annuitant, the purchase price is returned to the

nominee.In case nominee/policyholder of policy under a pension plan of Bajaj Allianz Life Insurance Company (BALIC) who wishes to take Bajaj Allianz Pension Guarantee plan and is aged between 0 & 36 years or 81 & 100 years then, only Option B will be available to him/her


http://www.bajajallianz.com/Corp/retirement-plans/retirement-plans.jsp

Option Detail

Option C

Annuity Certain for period 5 years, 10 years, 15 years , 20 years and life thereafter-

Annuity is paid for the chosen certain period to the annuitant, if alive, otherwise to the nominee.

At the expiry of the certain period, if the annuitant is alive, the annuity is paid to the annuitant as long as he/she is alive.

Option D

Joint Life Last Survivor with 50% of annuity to spouse-

The annuitant and his/her spouse are covered under the policy. The annuity is paid to the annuitant as long as he/she is alive. On death of the annuitant, 50% of the prevailing annuity is payable to

the spouse, as long as the spouse is alive

Option E

Joint Life Last Survivor with Return of Purchase Price on death of Last Survivor (100% of annuity to spouse)-

The annuitant and his/her spouse are covered under the policy. The annuity is paid to the annuitant and/or spouse as long as at least

one of them is alive. On death of the last survivor , the purchase price is returned to the

beneficiary/nominee.

Option F

Joint Life Last Survivor with 100% of annuity to spouse-

The annuitant and his/her spouse are covered under the policy. The annuity is paid to the annuitant and/or spouse as long as at least

one of them is alive.

Important details Parameter Detail

Minimum Age at Entry

37 years

For option B, the annuitant's minimum age at entry is 0 year

For option D, E & F annuitant and Spouse's minimum age at entry is at least 37 years

Maximum Age at Entry 80 years

(For option D, E & F Annuitant and Spouse's maximum age at


Parameter Detail

entry is at most 80 years last birthday)

For option B, the annuitant's maximum age at entry is 100 years (In case nominee/policyholder of policy under a pension plan of BALIC who wishes to take Bajaj Allianz Pension Guarantee plan)

Minimum Purchase Price

Rs.25,000

In case nominee/policyholder of policy under a pension plan of BALIC who wishes to take Bajaj Allianz Pension Guarantee plan, the minimum purchase price is not applicable

Maximum Purchase Price No Limit

Minimum Annuity Instalment Rs. 1000

Retire Rich

"A plan that enables you to retire with laughter lines... not worry lines."

You have been working hard. You're going to retire one day. How do you want to spend your

retirement? Travelling? Golfing? Turning a hobby into a second career or volunteering for a

noble cause or simply spending more time with your family.

In retirement, how you choose to spend your time is now up to you. The decisions you make

about your money today should be flexible enough to accommodate your changing needs.


Taking charge of your retirement begins with Bajaj Allianz Retire Rich - A Unit-linked Pension

Plan that your retirement dreams are well met.

benefits

This retirement plan offers you the key benefits of:

Guaranteed Vesting Benefit and Guaranteed Death Benefit

Option to select regular, limited or single premium payment

Option to change the premium payment term

Flexibility to pay top-up premium


Bajaj Allianz Retire Rich is a simple to understand unit-linked deferred pension plan.

At the inception, you have to choose between Regular, Limited or Single premium payment

option

Premium paid by you, after deduction of premium allocation charge, will be allocated in to the

Pension Builder Fund. Units will be allocated to your policy account at the prevailing unit price

of the fund

The policy administration charge will be deducted monthly through cancellation of units. Fund

management charge and guarantee charge are adjusted in the unit price

In the process to comply with the reduction in yield, the Company may arrive at specific non-

negative claw-back additions, if any, to be added to the unit Fund Value, as applicable, at

various durations of time after the first five years of the contract.

At the end of your policy term, i.e., on the vesting date, the vesting benefit of your policy will be

your total Fund Value subject to a Guaranteed Vesting Benefit of 101% of the sum of all

premiums and top-up premiums paid by you till the vesting date


http://www.bajajallianz.com/Corp/retirement-plans/retirement-plans.jsp

Death Benefit

On death of the life assured before the vesting date, the death benefit payable to the nominee

will be higher of the total Fund Value as on date of receipt of intimation of death or the

Guaranteed Death Benefit

Guaranteed Death Benefit: 105% of the sum of all premiums and top-up premiums (if any) paid

till date under the policy

The nominee can utilize the death benefit in any of the following ways:

o Take the entire death benefit as cash lump-sum or

o Use the entire or part of the death benefit proceeds to purchase an annuity from us at the

then prevailing annuity rates.

Vesting Benefit

The vesting benefit of your policy on the vesting date will be higher of the Guaranteed Vesting

Benefit or the total Fund Value as on the vesting date

Guaranteed Vesting Benefit: 101% of the sum of all premium and top-up premiums (if any) paid

by you till the vesting date

On the vesting date, you have the option to use your vesting benefit in one of the following three

ways:

o You may take up to 1/3rd* of vesting benefit as a lump sum and purchase an immediate

annuity from us with the balance amount at the then prevailing annuity rates under any

immediate annuity plan available on sale then.

o You may purchase a single premium deferred pension plan from us, using the entire

proceeds of your vesting benefit irrespective of minimum single premium.

o You may extend your prevailing deferment period under the policy to any available period

as at the vesting date, provided your age as on the vesting date is less than 55 years. The

prevailing guaranteed death benefit, guaranteed vesting benefit and option to pay top-up

premiums will continue during the extended deferment period. Once the option is chosen,

the guaranteed vesting benefit shall not be applicable at the original vesting date. No

premiums need to be paid during the extended deferment period. During the extended

deferment period, all applicable charges will get deducted.


Note: You will have to exercise one of the above three options before the vesting date

*maximum as allowed by IT Act

Loyalty Additions

You will get additional Loyalty Additions added to your Fund Value on the original vesting date

of your policy. Loyalty Additions are equal to a percentage of annualized/single premium as

given below:

Policy

Term

For Regular/ Limited Premium payment optionFor Single Premium

Payment optionFor premium less than

Rs. 10,00,000

For premium of Rs.

10,00,000 and above

7 to 10 Nil Nil Nil

11 to 15 8.5% 25.5% 3.0%

16 to 20 9.0% 27.0% 3.5%

21 to 25 10.0% 30.0% 4.0%

26 to 30 11.0% 33.0% 4.5%

Surrender Benefit

You may, at any time, surrender the policy

If the policy is surrendered during the lock in period of five years:

o Death benefit under your plan will terminate immediately


o Your Fund Value less the discontinuance/ surrender charge, if any, plus the top up premium

Fund Value, if any, as on the date of surrender, will be transferred to the discontinued

pension policy fund.

o The discontinuance value as at the end of the lock-in period will be available to you as

surrender value

o Once the policy is surrendered it cannot be revived

On surrender of the policy after the lock in period of five years, the total Fund Value, on the date

of surrender, will be available to you as the surrender value and the policy will terminate.

You should compulsorily use the surrender value available in one of the following two ways:

o You may purchase a single premium deferred pension plan from us, using the entire

proceeds of your surrender benefit OR

o You may take up to 1/3rd* of the surrender value as a lump sum and purchase an immediate

annuity from us with the balance amount at the then prevailing annuity rates.

Features

Alteration of Premium payment frequency (only in regular premium/ limited premium payment

options)

Modes Yearly Half-yearly Quarterly Monthly

Premium Frequency Factor 1 1/2 1/4 1/12

Option to make lump sum investment

You can make lump sum investments at any time except in the last five policy years by paying unlimited top up premiums to enhance your fund value, provided all due regular premiums are paid. The minimum top up premium is Rs. 5,000.

Option to change the premium paying term (only in case of regular and limited premium payment option)

You have the option to change your premium paying term at any time subject to the

minimum and maximum premium paying term allowed under the plan, provided all due

regular and limited premium till the date of such request are paid

Such option should be exercised before the expiry of the existing premium paying term


Miscellaneous charge will be applicable for the option.

Fund

Pension Builder Fund

Risk Profile - Medium (SFIN: ULIF06908/02/13PENSIONBUI116)

The investment objective of this fund is to provide capital appreciation by investing in a suitable

mix of debt and equities. The fund strategy would be to invest in following mix of assets:

Portfolio Allocation:

Equity & equity related instruments 0% - 50%

Debt, fixed deposits & debt related instruments 25% - 100%

Mutual funds(a) and money market instruments 0% - 40%

5.) ULIP plan

ULIP means a "Unit Linked Insurance Plan". ULIPs are financial instruments which when used

intelligently, gives you the best of both worlds. It combines the characteristics of a market linked

instrument and life insurance policy. Part of the premium goes into buying life insurance cover

while the remaining part of the premium is invested in an asset class (equity/debt), based on

one's choice. Asset class investment is made after deduction of known charges.


The tax advantage

Holding PeriodEquity Funds

Non-Equity Funds ULIPs

Less than 1 year

15%Tax rate applicable to investor

No tax on switching from one fund option to another.Partial withdrawals (allowed after 5 years) and maturity corpus is tax-free.

Over 1 year but less than 3 years

Nil

Over Three years Nil 20% after indexation

Domestic equity funds and equity-oriented hybrid funds.

Includes all other funds (debt, liquid, MIPs, fund of funds, gold funds, global funds).

If life cover is 10 times the annual premium

N

Fortune Gain

An intelligent investor deserves a smart plan that provides the maximum benefit from every

ounce of investment made; making sure the deduction in charges are minimum. We present one

such smart solution - Bajaj Allianz Fortune Gain - a Unit-Linked Single Premium Endowment

Plan that provides up to 99.5% premium allocation to make sure that your valuable money is

fully utilized towards building you a fortune.

Be Future Safe with Fortune Gain!


Advantages

Bajaj Allianz Fortune Gain is a non-participating, individual, single premium Unit-Linked endowment

plan. The key advantages of Bajaj Allianz Fortune Gain are as follows

99.5% premium allocation for single premium 10 lacs and above

Loyalty Additions of 3% of the single premium depending on the single premium & policy term chosen

Choice of seven (7) funds

Option to make partial withdrawals from the funds

Option to pay top-up to the extent of the single premium paid.

Option to decrease sum assured

Systematic switching option to manage your investments better

Options to take maturity benefit in installments (Settlement Option)

Maturity Benefit

Under Bajaj Allianz Fortune Gain, the maturity benefit will be the single premium fund value

plus top up premium fund value, if any, both as on the maturity date, provided the policy is in-

force.

Death Benefit

In case of unfortunate death before the maturity date, provided the policy is in-force, the death

benefit payable to the nominee as a lump-sum (subject to the Guaranteed Death Benefit*) is:

(i) The higher of the sum assured or single premium fund value PLUS

(ii) The higher of top-up premium sum assured or top-up premium fund value, if any [All the

above as on date of receipt of intimation of death].



reduced to the extent of any partial withdrawals made from the single premium fund during the

two year period immediately preceding the death of the life assured.


be reduced to the extent of any partial withdrawals made from the single premium fund during

the two year period before attaining age 60 and all the partial withdrawals made from the single



purpose.

* The guaranteed death benefit applicable throughout the policy term is 105% of the total

premiums paid including top-up premiums paid, if any, till the date of death.

Loyalty Additions

Your policy will be entitled for loyalty additions as per the below table. The addition, expressed

as a percentage of the single premium, will be added to the single premium fund value at the

maturity date of your policy.

Policy TermSingle Premium

50,000 to 99,999 100,000 & above

7 to 10 Nil Nil

10 to 30 Nil 3%

Surrender Benefit

You have the option to surrender your ULIP policy at anytime.

On surrender during the lock-in period of first five years, the single premium fund value, less the

discontinuance/surrender charge plus the top up premium fund value, if any, as on the date of

surrender, will be transferred to the discontinued life policy fund (maintained by the company),

and life cover shall cease immediately. The discontinuance value as at the end of the lock-in

period will be available to you as surrender value.


On surrender after the lock-in period of first five years, the surrender value available will be

single premium fund value plus top up premium fund value, if any, as on the date of surrender.

The policy shall thereafter terminate upon payment of the full surrender value by the company.

Eligibility table

Parameter Details






Maximum Policy Term 30 years

Minimum Single Premium Rs. 50,000

Maximum Single Premium No Limit

Premium Payment Frequency Single

Minimum Sum Assured 1.25 times single premium if Age at Entry < 45 yrs1.1 times single premium if Age at Entry >= 45 yrs

Maximum Sum Assured X * single premium, where X is based on age at entry and Policy term as mentioned below

Policy TermAge at entry

1 - 20 21 - 30 31 - 35 36 - 44 45 above

7 - 10 10 10 10 5 1.5

11 - 15 10 10 8 3 1.5

16 - 20 10 8 5 3 1.5

21 - 25 10 6 4 2 1.5

26 - 30 10 5 3 2 NA


Parameter Details


AgeTop-Up Sum Assured Multiplier

Less than 45 years 1.25 times top-up premium


1.1 times top-up premium

Future Gain

We all seek opportunities to gain maximum benefits at the lowest cost. When we decide to invest

our monies, we want every rupee of our hard earned money to be utilized fully for our future

gains. Helping the investor in you, we present Bajaj Allianz Future Gain - a Unit-Linked

Endowment Plan that provides for maximum premium allocation to make sure that your valuable

money is fully utilized towards your dream future.

Features

Maximum premium allocation


Choice of 2 investment portfolio strategies

Choice of seven (7) funds

Option to make partial withdrawals from the funds

Option to pay top-up premium

Option to decrease sum assured

Option to alter premium payment frequency

Option to take maturity benefit in installments (Settlement Option)


In Bajaj Allianz Future Gain, the premiums paid by you, after applying the applicable premium

allocation rate, are invested as per your chosen portfolio strategy across the various applicable

funds. The units are allocated at the prevailing unit price of the fund.

The mortality charge and policy administration charge are deducted monthly through

cancellation of units. Fund management charge is adjusted in the unit price.

Maturity Benefit

Under Bajaj Allianz Future Gain, the maturity benefit will be the regular premium fund value

plus top up premium fund value as on the maturity date, provided the policy is in-force.

Surrender Benefit

You have the option to surrender your policy at anytime.

On surrender during the lock-in period of first five years of your policy, the regular premium

fund value, less the discontinuance/surrender charge plus the top up premium fund value, if any,

as on the date of surrender, will be transferred to the discontinued life policy fund (maintained


by the company), and life cover shall cease immediately. The discontinuance value as at the end

of the lock-in period will be available to you as surrender value.

On surrender after the lock-in period of first five years of your policy, the surrender value

available will be regular premium fund value plus top up premium fund value, if any, as on the

date of surrender, and will be payable immediately.

The policy shall terminate upon payment of the surrender/discontinuance value by the company.

Death Benefit

In case of unfortunate death before the maturity date, provided the ULIP policy is in-force, the

death benefit payable to the nominee/ policyholder as a lump-sum is:

The higher of the sum assured or regular premium fund value PLUS

The higher of top-up premium sum assured or top-up premium fund value, if any;

All the above as on date of receipt of intimation of death The death benefit is subject to the

guaranteed death benefit, which is 105% of the total premiums paid including top-up premiums

paid, if any, till the date of death.


reduced to the extent of any partial withdrawals made from the regular premium fund during the

two year period immediately preceding the date of death of the life assured.


be reduced to the extent ofthe partial withdrawals made from the regular premium fund during

the two year period before attaining age 60 and all the partial withdrawals made from the regular



purpose


Am I Eligible?

Parameter Details






Maximum Policy Term

The policy term will be as follows

Premium Paying Term 5 or 6 Other PPTs

Policy Term 10, 15 to 20 years 10, 15 to 30 years

Premium Payment Term (PPT) 5 to 30 years

Minimum Premium(Modal Premium)

Frequency Yearly Half-yearly Quarterly Monthly* Top - up

Premium (in Rs.) 25,000 12,500 6,500 2,500 5,000

*Monthly premium payment frequency will be available under salary deduction scheme & ECS.

Maximum PremiumFrequency Yearly Half-yearly Quarterly Monthly

Premium (in Rs.) 12,00,000 6,00,000 3,00,000 1,00,000

Premium Payment Frequency Yearly, Half Yearly, Quarterly and Monthly

Minimum Sum Assured

Age Higher of

Less than 45 years10 times Annualized Premium

0.5 * Policy term * Annualized Premium


7 times Annualized Premium

0.25 * Policy term * Annualized Premium

For example, for an age less than 45 years and policy term ofi. 15 years the minimum Sum assured available will be 10 times Annualized Premiumii. 22 years the minimum sum assured available will be 11 times of Annualized premium i.e. (0.5*22* Annualized premium)


Parameter Details

Maximum Sum Assured

X* Annualized Premium, where X is based on age at entry and Policy term as mentioned below

Policy Term/ Age at entry

1 - 35 36 - 40 41 - 44 45 - 5051 & above

10 & 15 15 15 10 10Minimum SA

16-20 15 15 10Minimum SA

Minimum SA

21-25 15 12.5Minimum SA

Minimum SA

NA

26-30 15Minimum SA

Minimum SA

NA NA


Age Top-Up Sum Assured Multiplier

Less than 45 years 1.25 times

Greater than or equal to 45 years 1.1 times

Age calculated is age as at the last birthday

Charges under the PlanCharges Details

Premium Allocation Charge

Annualized Premium/ Policy Year 1 2-5 6 and above

25,000 to 99,999 5.50% 3.75% 0%

100,000 to 199,999 2.50% 1.75% 0%

200,000 and above 0% 0% 0%

All Top ups have a premium allocation charge of 2%


Charges Details

Policy Administration Charge

Rs.33.33 per month inflating at 5% per annum every month. The charge will be deducted at each monthly anniversary by cancellation of units at prevailing unit price

Fund Management Charge (FMC)

Fund Fund Management Charge per annum

Equity Growth Fund II 1.35%

Accelerator Mid Cap Fund II 1.35%

Pure Stock Fund 1.35%

Asset Allocation Fund II 1.25%Bluechip Equity Fund 1.25%

Liquid Fund 0.95%

Bond Fund 0.95%

Discontinued Life Policy Fund 0.50%

This charge would be adjusted in the unit price

Miscellaneous Charge

A miscellaneous charge of Rs. 100/- per transaction in respect of alteration of premium mode, alteration of premium apportionment, change in premium paying term or decrease in sum assured shall be charged.

Discontinuance Charge

Where the policy is discontinued during

the policy year

Discontinuance charge for the policies having

annualized premium up to Rs. 25000/-

Discontinuance charge for the policies having

annualized premium above Rs. 25000/-

1Lower of 20% * (AP or FV) subject to maxi - mum of Rs.3,000

Lower of 6% * (AP or FV) subject to maximum of Rs.6,000


Lower of 4% * (AP or FV) subject to maximum of Rs. 5,000


Lower of 3% * (AP or FV) subject to maximum of Rs. 4,000

4 Lower of 5% * (AP or FV) Lower of 2% * (AP or FV)


Charges Details

subject to maxi - mum of Rs.1,000

subject to maximum of Rs.2,000

5 and above Nil Nil

AP - Annualized Premium & FV - Regular Premium Fund Value Discontinuance Charge for top ups is Nil.

Mortality Charge

Mortality Charge will be deducted at each monthly anniversary by cancellation of units. Female life assured will be eligible for an age-set-back of 3 years. For sub-standard lives, including smokers, extra mortality charge will be applicable which will be deducted as charges by cancellation of units. Sample mortality charges per annum per thousand of sum at risk for a healthy male life is shown below:

Age (yrs) 20 30 40 50

Rs. 1.13 1.34 2.35 6.52

Sum at risk is equal to Maximum of [death benefit - regular premium fund value - top up premium fund value, zero]

Service Tax As applicable on all Charges mentioned above

6.) Child Plan

Bajaj Allianz Life Insurance Child Plans are designed to ensure that they suit all basic

requirements for your child's future. It has multiple premium payment and policy terms options,

Guaranteed Maturity Benefit, cash installment option, inbuilt Total Disability Benefit and much

more. At Bajaj Allianz life insurance, we believe in helping you to build a robust child plan for

your child's secured future

What are Child Insurance Plans ?

You wish to see your child do better than you.... this dream can be realized only if you support it

with the right financial planning and secure your child's education and higher education

expenses, their extracurricular activities as well as supporting their talent and of course marriage


expenses. The only way to get over this worry is to choose a sizeable child planwhich will secure

the future of your child.

Child plans are regular life insurance policies designed in such a way that they meet the needs of

your children financially as and when it arises. The most important benefit in child plan is that

even if the parent were to meet with an unfortunate event your child's needs would still be taken

care of. Not only does the child plan offer a lump-sum payment on the death of the policyholder,

but it also waives of all future premiums and the insurance company continues investing this

money on behalf of the policyholder.

Systematic and steady savings with Bajaj Allianz Life Insurance will help you to take care of all

future goals and securing them, even if you are not there. Bajaj Allianz Life Insurance Child

plans and policies offer security against constraints like inflation and rising educational

expenses.

To take concrete steps towards realizing your child's dreams, start right away with Bajaj Allianz

Life Insurance Child Plans.

Lifelong Assure

We all wish for regular flow of income at all stages of our life, but most of the time achieving

those over age & time is not possible. Helping you with a solution, we at Bajaj Allianz

developed Lifelong Assure - a unique plan that provides you income & protection till your 100

birthday so that you can live worry-free for a lifetime.

features

The key features are as follows:

Cash Bonus starting from the end of 6th year.

Guaranteed Cash Back starting from the end of Premium Payment Term.


Life cover up to the age of 100 years.

Guaranteed Death Benefit of up to 300% of Sum Assured depending on the PPT chosen.

Option to take policy benefit in monthly installments.

Choice of 3 premium payment terms, viz., 10, 15 and 20 years.

More value for money with high sum assured rebate.

Attractive rates for female lives.

Option to enhance your coverage with rider benefits

Survival Benefit

a. You will start receiving Guaranteed Cash Back of 3% of your Sum Assured every year, from

the end of your premium payment term till the age of 99 years

b. You will be entitled for Cash Bonus declared, if any, starting from the end of 6 policy year till

the age of 99 years.

Maturity Benefit

Your policy will mature at the age of 100 years. On the maturity date, if all premiums are paid,

the Maturity Value under your policy, as mentioned in the below table, will be paid and the

policy will terminate.

PPT Sum Assured on Maturity

10 years 200% of Sum Assured





In addition, terminal bonus, if any, will be paid

Death Benefit

In case of unfortunate death of the life assured during the policy term, provided all the due

premiums have been paid under the policy, the death benefit payable to the nominee shall be as

follows

a. For age at entry less than 45 years, higher of

10 times annualised premium*

105% of total premium* paid till date of death

200%, 250% or 300% of sum assured depending on the PPT chosen.

b. For age at entry 45 years & above, higher of

7 times annualised premium*

105% of total premium* paid till date of death

200%, 250% or 300% of sum assured depending on the PPT chosen.

In addition, interim cash bonus & terminal bonus, if any, will be paid.

* Annualized Premium and total premium is exclusive of extra premium, rider premium, service

tax and cess, if any

Young Assure

Your family is your joy & pride, and your world revolves around your children who are your

future. You always want the best for them, what they truly deserve. While they strive hard to

achieve their dreams; it's your responsibility to ensure them the right financial support at all

times. Presenting Bajaj Allianz Young Assure - a traditional savings insurance plan that ensures

these dreams are fulfilled irrespective of any eventualities.

Advantages

Bajaj Allianz Young Assure is a traditional participating regular and limited premium payment

endowment plan to ensure a bright future for your loved ones. The key advantages of this plan

are:



Multiple premium payment and policy term options to ensure that money is available to you

during crucial years like child's education, marriage, etc.

Guaranteed Maturity Benefit (GMB), Guaranteed Additions (GA) and bonuses to ensure a good

return

3 Cash Installment Options to choose from to match the future financial needs

Comprehensive coverage in case of death or accidental disability

Option to enhance your coverage with rider benefits




Step 2: Choose your Premium Payment Term


Step 4: Choose your Guaranteed Maturity Benefit

Your premium will be based on Guaranteed Maturity Benefit, age, policy term, premium

payment term and premium payment frequency. Your Sum Assured is 10 times of Annualised

Premium.

Step 5: Choose your Cash Installment option

Maturity Benefit

The Maturity Benefit is Guaranteed Maturity Benefit (GMB) plus Guaranteed Additions (GA)

plus Vested Bonus (VB) plus Interim Bonus (IB), if any, plus Terminal Bonus (TB), if any.

The risk cover under your policy will cease on the maturity date.

You can take the Maturity Benefit as per one of the three Cash Installment options chosen by

you at inception, which are paid in annual installments. The first installment will commence

from end of the policy term.


Cash Installment

Cash Installment Options

Option I-3 years Option II-5 years Option III-7 years

1st GA + VB, if any + IB, if any

2nd 50% of GMB 22% of GMB 12% of GMB

3rd 55% of GMB + TB, if any

25% of GMB 15% of GMB

4th - 28% of GMB 18% of GMB

5th -34% of GMB + TB, if any

20% of GMB

6th - - 23% of GMB

7th - -25% of GMB + TB, if any

Total GMB payable

105% of GMB 109% of GMB 113% of GMB

Guaranteed Addition (GA) is expressed as % of the GMB and will be attached to the policy at the end of the policy term as given below:

PPT 5 years 7 years 12 years 15 years 20 years

GA (%) 15% 25% 40% 60% 90%

Death Benefit


If all due premiums are paid, then, in case of unfortunate death of the Life Assured, the benefit

payable will be:

The Sum Assured on Death^ , subject to the guaranteed death benefit of 105% of the total

premiums1 paid till date of death, will be paid immediately and the policy will be converted to a

fully paid-up policy.

As a fully paid-up policy all future GA, Vested Bonus and Terminal Bonus, if any, will continue

to accrue in the policy.

At the end of the policy term, the Maturity Benefit will be payable.

Sum Assured on Death is the higher of Sum Assured or the GMB

Total premium is exclusive of extra premium, rider premium and service tax & cess, if any

Accidental Permanent Total Disability Benefit

If all due premiums are paid, then, in case of Accidental Permanent Total Disability of the Life

Assured during the policy term, the policy will be converted to a fully paid-up policy and will

continue to accrue all future GA, and Vested Bonus and Terminal Bonus, if any. At the end of

the policy term, the Maturity Benefit will be payable.

If Accidental Permanent Total Disability Benefit has already triggered, on death of the life

assured, death benefit will be paid.

Surrender

The policy can be surrendered by the policyholder at any time, provided at least 1 full year's

premium has been paid if premium paying term is less than 10 years or at least 2 full years'

premiums have been paid, if premium paying term is 10 years or more.

The surrender value shall be higher of: Guaranteed Surrender Value (GSV) and Special

Surrender Value (SSV).

Eligibility Conditions


Parameter Details

Minimum Age at Entry 18 years

Maximum Age at Entry 50 years



Premium

Based on GMB chosen, age, policy term, premium payment term and premium payment frequencyPremium for female life will be based on the premium rate of 3 years younger male

Sum Assured10 times Annualized Premium#

# Annualized Premium is exclusive of extra premium, rider premium, service tax &cess, if any.

Guaranteed Maturity Benefit (GMB)Minimum - Rs 1,00,000Maximum - No LimitGMB is as chosen by you

Policy Term & Premium Payment Term Years

Policy Term Premium Payment Term

10 5, 7

15 12, 15

20 12, 15, 20

Premium Payment Frequency Yearly, Half yearly, Quarterly and Monthly*

*The monthly mode will be allowed only under the salary deduction scheme and ECS.

7.) CSC Bachat Plus

We all want to secure our families against any odds that may force them to compromise in life.

All our lives we put in every possible effort to ensure a safe future for our loved. We understand

this concern and present Bajaj Allianz CSC Bachat Plus - a variable insurance plan that helps

you protect your family financially from all uncertainties; that too at an affordable price.


Advantages

Offers Guaranteed Interest Rate (GIR)

Offers Guaranteed Additional Interest Rate (AIR)

Option for Partial Withdrawals

Option to alter premium payment frequency

Maturity Benefit

On the maturity date, the benefit payable will be equal to the Policy Account Value

The Maturity Benefit is subject to a minimum amount equivalent to total premiums paid, less

Sum of all partial withdrawals made during the term of your policy, compounded at 1% per

annum till maturity date

Death Benefit

In case of unfortunate death of the life assured, the benefit payable will be higher of:

the Policy Account Value or

the Sum Assured on Death

Please note that the Sum Assured on Death is the higher of (a) Sum Assured, (b) 105% of total

premiums paid till the date of death or (c) Total premiums paid till the date of death

compounded at 1% p.a.

Parameter DetailsMinimum Entry Age 14 years Maximum Entry Age 55 years Maximum Age at Maturity

65 years

Sum Assured MultiplierAge less than 45 years

Age greater than or equal to 45 years

10 times Annualised 7 times Annualised Premium


Parameter DetailsPremium

Total Sum Assured under all Policies

Rs. 2,00,000 (The total sum assured allowed on a single life assured under all policies taken under this plan cannot exceed of Rs. 200,000).

Policy Term 10 and 15 yearsPremium Paying Term Equal to policy term

Premium

Mode

Regular Premium

YearlyHalf-yearly

Quarterly Monthly

Minimum (in Rs.) 1,800 900 450 150

Maximum (in Rs.) 20,000 10,000 5,000 1,665

Premium payment Frequencies

Yearly, Half-Yearly, Quarterly and Monthly#

#The monthly mode will be allowed only under the salary deduction scheme and ECS

(B.) General insurance

(1.) Car Insurance

Your car insurance policy is the most important document in your vehicle. Millions of car

owners across India trust Bajaj Allianz to insure their car. Along with comprehensive coverage


against physical damage, bodily injury and cover againts third-party liability, your motor

insurance brings to you confidence and peace of mind. All this is backed by our superior claims

servicing capability and fast settlement record for vehicles insured by us.

Cashless settlement in over 1500 preferred workshops

Hassle free claim settlement

Quick and easy online purchase process

24x7 claims support

What is Covered?

Loss or damage to your car and two-wheeler against natural calamities

Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest,

inundation, cyclone, hailstorm, frost, landslide and rockslide.

Loss or damage to your car and two-wheeler against man-made calamities

Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any

damage in transit by road, rail, inland waterway, lift, elevator or air.

Personal Accident Cover

Coverage of Rs. 1 lakh for the individual owner/driver of the vehicle while driving or travelling

and mounting or dismounting from the two-wheeler. Optional personal accident covers for co-

passengers available.

Third Party Legal Liability

Protection against legal liability due to accidental damages resulting in the permanent injury or

death of a person, and damage caused to the surrounding property.

Claims Process

Step 1: Send your Vehicle for Repair

In case of an accident, take your vehicle to the garage (if movable) or have it towed to avoid further damage.

For Theft Claims :


https://www.bajajallianz.com/Corp/motor-insurance/motor-insurance-claims-process.jsp

In case of a theft claim, file a police complaint immediately in writing and inform us on our Toll Free Number - 1800-209-5858.

If your vehicle isn't found within 90 days, ask the police to issue you a Non-Traceable Report. This is an undertaking given by the police that they are yet to find your vehicle; you need to submit this report to us. We start the claim process after this.

Important To-Dos:

Please read our section on Claim FAQ to understand benefits of Cashless claims and important things to keep in mind while making claims.

Step 2:-Register your claim

Register your claim by calling us on our Toll Free Number: 1800-209-5858You will need to provide the following information to the customer support executive:-

Contact number Engine and Chassis Number Accident date and time Description and location of the accident Vehicle inspection address Km. reading

Once the claim is registered, the customer support executive will provide you with a Claim Reference Number.

You will be updated through SMS on every stage of the claim OR you can call on ourToll Free Number - 1800-209-5858 and quote the Claim Reference Number to know the status of your claim

Step 3: Survey and Claim Settlement

Documents Required: Submit the copy of documents to the garage / dealer and get it verified with the originals.

For Accident Claims

Claim form duly signed by the insured* RC copy of the vehicle


https://www.bajajallianz.com/Corp/motor-insurance/motor-claims-faq.jsp#pcoverage

https://www.bajajallianz.com/Corp/motor-insurance/motor-claims-faq.jsp#period

Driving license copy** Policy copy (first two pages) FIR Original estimate Original repair invoice, payment receipt (for cashless garage - only repair invoice)

For Theft Claims

Claim form duly signed by the insured* RC copy of the vehicle with all original keys Driving license copy** Original policy copy Original FIR copy of the complete theft report RTO transfer papers duly signed along with Form numbers 28, 29, 30 and 35 (if

hypothecated) Final report - A no-trace report from the police saying that the vehicle cannot be located

For Third Party Claims

Claim form duly signed by the insured* Police FIR copy Driving license copy** Policy copy RC copy of the vehicle Stamp required in case of company registered vehicle's original documents

Spot Settlement: If the loss is not much, we suggest that you avail spot settlement of claims through Bajaj Allianz Mobile Settlement Service.

Claim Settlement:

After completion of repair at a preferred garage we will make payment of the loss directly to the garage.

You will only have to pay the excess as mentioned in the policy and the depreciation value, salvage etc. as in

formed by the surveyor.

(2.) Two Wheeler and Bike Insurance

Your two-wheeler is about freedom and the Bajaj Allianz two-wheeler insurance policy has been

designed to set you free. Our comprehensive two wheeler insurance and bike insurance policy

provides hassle-free protection to your bike or scooter against physical damage, theft and third

party liability.


With your two wheeler insurance, you get:

Hassle-free claim settlement

Quick and easy steps to purchase bike insurance online

24x7 claim support

What is Covered?

Loss or damage to your two wheeler against natural calamities: Your bike insurance policy

covers fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm,

tempest, inundation, cyclone, hailstorm, frost, landslide and rockslide.

Loss or damage to your two wheeler against man-made calamities: Burglary, theft, riot,

strike, malicious act, accident by external means, terrorist activity, any damage in transit by

road, rail, inland waterway, lift, elevator or air is covered by two wheeler insurance.

Personal Accident Cover: With bike insurance, getcoverage of Rs.1 lakh for the individual

owner/driver of the vehicle while driving or travelling and mounting or dismounting from the

two wheeler. Optional personal accident covers for co-passengers available with our two

wheeler insurance.

Third Party Legal Liability: Protection against legal liability due to accidental damages

resulting in the permanent injury or death of a person, and damage caused to the surrounding

property.

Claims Process

Step 1: Send your Two Wheeler for Repair

If you send your vehicle to a preferred garage for repairs, you will be able to avail cashless

facility. To locate a preferred garage, click here

For Theft Claims:In case of a theft claim, file a police complaint immediately in writing and

inform us onour Toll Free Number: 1800-209-5858.


http://apps.bajajallianz.com/gmlocator/garages.php

Step 2: Register your claim

Register your two wheeler insurance claim by calling us on our Toll Free Number: 1800-209-

5858 and give us some basic information. You will be then provided a two wheeler insurance

claim reference number.

Step 3: Survey and Claim Settlement

Submit a copy of your documents to the garage/dealer and get it verified with the originals.

After completion of repair at the preferred garage we will make the payment directly to the

garage.

What is not covered?

Normal wear and tear and general ageing of the vehicle.

Mechanical/electrical breakdown.

Vehicles being used otherwise than in accordance with limitations as to use.

Damage to/by a person driving any vehicles without a valid license.

Damage to/by a person driving the vehicle under the influence of drugs or liquor.

Loss/damage due to war, mutiny or nuclear risk.

Wear and tear of consumables like tyres and tubes unless the vehicle is damaged at the same

time, in which case the liability of the company shall be limited to 50% of the cost of

replacement.

(3.) Travel Insurance Plans

Travel Insurance for Individuals

Why do I Need Travel Insurance?

Travelling abroad to a foreign land entails a lot of risk. Medical expenses in foreign currency and

hospitalization can be prohibitively expensive. Our travel policy covers you for all medical

eventualities for just a fraction of the amount you would otherwise need.


Covers expenses of hospitalization, loss of baggage and other incidental expenses

Covers you against trip cancellation, trip curtailment and burglary of your home*

Quick disbursement of claims

Global expertise matched with local knowledge

Innovative packages to match individual needs

Only insurance company with in-house international toll-free numbers and fax numbers



Travel companian plan

Travel CareTravel Secure Travel Value

Coverages Benefit in US$ Benefit in US$ Benefit in US$ Medical Expenses,Evacuationand Repatriation

50,000 2,00,000* 5,00,000

Emergency dental pain reliefincluded in (I) above

500 500 500

Loss of Checked BaggagePer baggage maximum 50% and per item in the baggage 10%

250** 1,000** 1,000**

Delay of Baggage 100 100 100Personal AccidentOnly 50% of the Sum Assured in respect of the death of the insured person below the age of 18 years

10,000*** 25,000*** 30,000***

Loss of passport 250 250 250Personal Liability 1,00,000 2,00,000 2,00,000

Hijack $ 50 per day to maximum $ 300

$ 50 per day tomaximum $ 300

$ 50 per day to amaximum $ 300

Trip Delay -$ 20 per 12 hrs. 12 hrs. maximum $120

$ 20 per 12 hrs. 12 hrs. maximum $120

Emergency Cash Advance****Cash advance would include delivery charges

500 1000 1,500

Golfer Hole-in-one - 250 500

**Per Baggage maximum 50 % and per item in the baggage 10 %. *** Only 50% of the Sum assured in respect of the death of the insured person below age of 18 years **** Cash Advance Would include delivery charges.

Travel prime plan

Silver Gold PlatinumSuper Platinum

Maximum Deductible

Coverages 50,000 USD 2 Lakhs USD 5 Lakhs USD 7.5 Lakhs

USD 10 Lakhs

USD -

Personal Accident*

15,000 USD 25,000 USD 25,000 USD 25,000 USD 25,000 USD Nill

Medical Expenses and Evacuation

50,000 USD 200,000 USD 500,000 USD 750,000USD1,000,000 USD

100 USD

Emergency Dental Pain Relief included in above limits

500 USD 500 USD 500 USD 500 USD 500 USD 100 USD

Repatriation 5,000 USD 5,000 USD 5,000 USD 6,000 USD 6,500 USD NilLoss of Checked Baggage**

500 USD 1,000 USD 1,000 USD 1,000 USD 1,000 USD Nil

Accidental Death & Disability(Common Carrier)

2,500 USD 5,000 USD 5,000 USD 5,000 USD 5,000 USD Nil

Loss of Passport

250 USD 250 USD 250 USD 300 USD 300 USD 25 USD

Personal Liability

100,000 USD 200,000 USD 200,000 USD 250,000 USD 250,000 USD 100 USD

Hijack cover

50 USD per day to max 300 USD





Nil

Trip Delay

25 USD per 12 hrsto max 120 USD





12 Hrs

Hospitalization Daily Allowance

20 USD per dayto max 100 USD





Nil

Golfer's Hole-in-one

250 USD 500 USD 500 USD 500 USD 500 USD Nil


Trip Cancellation


Trip Curtailment


Delay of Checked Baggage

100 USD 100 USD 100 USD 100 USD 100 USD 12 Hours

Home Burglary Insurance

INR 100,000 INR 200,000 INR 300,000 INR 300,000 INR 300,000 Nil

Emergency Cash Benefit***


Missed Connection

100 USD 100 USD 100 USD 100 USD 100 USD 12 Hours

Difference in Airfare due to delayed or early return


Bounced Hotel500 USD 500 USD 500 USD 500 USD 500 USD NilPA Cover in India

INR 50,000 INR 50,000 INR 50,000 INR 50,000 INR 50,000 Nil

Travel Insurance for Family

Policy Benefits:-

What if I am in Urgent Need of Cash Abroad?

One of the important features of our travel policies is Emergency Cash Advance. It is an

assistance service wherein the company facilitates providing emergency cash to the insured

during incidents such as theft/burglary of luggage/money or hold ups by co-coordinating with the


insured person's relatives in India to provide emergency cash assistance to the insured person as

per his requirement, up to the limit specified in the policy schedule.

Any Other Special Features?

The Golfer's Hole-in-one is a sporting gesture from the company. It offers reimbursement of

expenses incurred in celebrating a hole-in-one by the insured during the trip, anywhere in the

world (excluding India), in a United States Golfers' Association recognized golf course. This

cover is provided in Travel Companion.

Travel Elite also provides a Golfer's Hole-in-One cover. In addition to this, it covers you against

burglary of your home while you are away, along with expenses incurred in the event that your

trip is cancelled or curtailed.


Coverages Benefits in US $Medical Expenses, Evacuationand Repatriation

50000

Emergency dental pain relief included in (I) above

500

Loss of Baggage (Checked) Note: Per Baggage maximum 50 % and per item in the baggage 10 %.

250**

Delay of Baggage 100Personal AccidentOnly 50% of the Sum assured in respect of the death of the insured person below age of 18 years

10,000***

Loss of Passport 150Personal Liability 2,000

**Per Baggage maximum 50 % and per item in the baggage 10 %. *** Only 50% of the Sum assured in respect of the death of the insured person below age of 18 years


Travel prime plan

Silver Gold Platinum Coverages Benefit in US$ Benefit in US$ Benefit in US$

Medical Expenses,Evacuationand Repatriation

50,000 2,00,000 5,00,000


500 500 500

Personal AccidentOnly 50% of the Sum assured in respect of the death of the insured person below age of 18years

15,000*** 25,000*** 25,000***

AD & D Common Carrier 2,500 5,000 5000Delay of Baggage 100 100 100Loss of Checked BaggagePer Baggage maximum 50 % and per item in the baggage 10 %.

500** 1,000** 1,000**

Hijack$50 per day to max $ 300

$60 per day to max $ 360

$60 per day to max $ 360

Trip Delay$ 20 per 12 hrs to max$ 120

$ 30 per 12 hrs to max $ 180

$ 30 per 12 hrs to max$ 180

Personal Liability 1,00,000 2,00,000 2,00,000Emergency Cash Advance****Cash Advance Would include delivery charges.

500 1,000 1,000

Golfer Hole-in-one 250 500 500Trip Cancellation 500 1,000 1,000Home Burglary Insurance Rs.1, 00,000 Rs.2, 00,000 Rs.3, 00,000Trip Curtailment 200 300 500Hospitalization Daily Allowance

$25 per day to max $100



Loss of Passport 250 250 250

**Per Baggage maximum 50 % and per item in the baggage 10 %. *** Only 50% of the Sum assured in respect of the death of the insured person below age of 18 years **** Cash Advance Would include delivery charges.


Travel Insurance for Senior Citizens

Policy Benefits:-

What if I am in Urgent Need of Cash Abroad?

One of the important features of our travel policies is Emergency Cash Advance. It is an

assistance service wherein the company facilitates providing emergency cash to the insured

during incidents such as theft/burglary of luggage/money or hold ups by co-coordinating with the

insured person's relatives in India to provide emergency cash assistance to the insured person as

per his requirement, up to the limit specified in the policy schedule.








trip is cancelled or curtailed.

Travel Insurance Cancellation Procedure

BEFORE THE POLICY START DATE

The insured is expected to inform us and an E mail should be sent by the insured requesting the

cancellation.

He/she should furnish policy number or schedule number in the E mail.

*There will be a Rs 250/- cancellation charges.


AFTER THE POLICY START DATE - IF THE INSURED HAS NOT TRAVELLED

Following documents should be sent to us:

Proof that the insured has not travelled overseas.

Photo copy or Scan copy of all the pages (including empty pages) of the passport.

Reason for policy cancellation.

Visa rejection letter in case of visa refusal by embassy.

*Based on the underwriters approval the policy will be cancelled within one working day after

receiving the email (and passport copy post start date).

AFTER THE POLICY START DATE - IF THE INSURED HAS TRAVELLED

In case of any early return of the insured person prior to expiry of the policy period, the company

will refund premium at the rates shown in adjacent table (subject to no claims being incurred on

the policy)


Coverages Benefits in US $Medical Expenses, Evacuation and RepatriationAny one illness - liability limited to US $12,500. Hospitalisation due to accident - max. liability -US $25,000. Overall max. liability under this head - US $ 50,000, aggregate during the policy period. ++

*50,000

Emergency dental pain relief included in (I) above 500Loss of Baggage (Checked)Note: Per baggage maximum of 50% and per item in the baggage max 10%.

250*

Delay of Baggage 100Personal Accident 25,000Loss of passport 250Personal Liability 1,00,000


Hijack $ 50 per day to a maximum $ 300

Trip Delay -Emergency Cash Advance++Cash advance would include delivery charges.

500

Golfer Hole-in-one 250

*Per baggage maximum of 50% and per item in the baggage max 10%. + Any one illness - liability limited to US $12,500. Hospitalisation due to accident - max. liability -US $25,000. Overall max. liability under this head - US $ 50,000, aggregate during the policy period. ++Cash advance would include delivery charges.

Travel Elite 61 above

Silver Gold Platinum

Coverages Benefit in US$ Benefit in US$ Benefit in US$


50,000 2,00,000 5,00,000

Emergency Dental Pain Reliefincluded in (I) above.

500 500 500

Personal Accident 15,000 25,000 25,000

AD &D Common Carrier 2,500 5,000 5,000

Loss of Baggage (Checked) **Note: Per Baggage maximum 50 % & per item in the baggage 10 %.

500 1,000 1,000

Delay of Baggage 100 100 100

Loss of Passport 250 250 250

Hijack $50 per day to max $60 per day to max $ 360 $60 per day to max $ 360


$ 300

Trip Delay$ 20 per 12 hrs tomax $ 120

$ 30 per 12 hrs tomax $ 180

$ 30 per 12 hrs tomax $ 180

Personal Liability 1,00,000 2,00,000 2,00,000

Emergency Cash Advance****Note: Cash Advance Would include delivery charges

500 1,000 1,000

Golfer Hole-in-one 250 500 500

Trip Cancellation 500 1,000 1,000

Home Burglary Insurance Rs.1, 00,000 Rs.2, 00,000 Rs.3, 00,000

Trip Curtailment 200 300 500

Hospitalization Daily Allowance


$25 per day to max $125 $25 per day to max $150

Special Conditions (limit of liability)

Any one illness 12,500 15,000 17,500

Any one accident 25,000 30,000 35,000

**Per Baggage maximum 50 % and per item in the baggage 10 %. **** Cash Advance Would include delivery charges

Travel Insurance for Students









trip is cancelled or curtailed. Besides these, it carries two Special Condition covers for any one

illness and any one accident, for senior citizens.

What are the Exclusions Applicable to Travel Policies?

Any medical condition or complication arising from it which existed before the commencement

of the policy period, or for which care, treatment or advice was sought, recommended by or

received from a physician.

Routine physical or other examination where there is no objective indication of impairment of

normal health.

Medical expenses beyond the expiry of the policy period.

Suicide, attempted suicide or willfully self-inflicted injury or illness, mental disorder,

anxiety/stress/depression/nervousness having no underlying physical illness as a cause; venereal

disease, alcoholism, drunkenness or the abuse of drugs.

Manual work or hazardous occupation, self-exposure to needless peril (except in an attempt to

save human life), engaging in any criminal or illegal act.

Pregnancy, resulting in childbirth, miscarriage, abortion, or complication arising out of any of

the foregoing.

Experimental, unproven or non-standard treatment.

Treatment by any other system other than modern medicine (also known as Allopathy).

The cost of spectacles, contact lenses, hearing aids, crutches and all other external appliances

and/or devices whether for diagnosis or treatment.

Delay of baggag e when the intended destination is in India.

Loss or damage to the insured's passport as a result of the confiscation or detention by customs,

police or any other authority.

Loss which is not reported to the appropriate police authority within 24 hours of the discovery of

the loss, and in respect of which an official report has not been obtained.

Loss caused by the insured's failure to take reasonable steps to guard against the loss of passport.


Study companion plan

Standard Silver GoldCoverages Benefit in US$ Benefit in US$ Benefit in US$


50,000 1,00,000 2,00,000


500 500 500

Tuition Fee 10,000 10,000 10,000Personal AccidentOnly 50% of the Sum assured in respect of the death of the insured person below age of 18 years

50,000 50,000 50,000

Loss of Baggage (Checked)Per baggage maximum 50% and per item in baggage maximum 10%

1,000 1,000 1,000

Accident to Sponsor 10,000 10,000 10,000Family Visit 7,500 7,500 7,500Personal Liability 1,00,000 1,00,000 1,00,000

The Student Elite Plan is a customized insurance policy for students travelling abroad.It covers your trip abroad as well as takes

Student Elite plan

Standard Silver GoldCoverages Benefit in US$ Benefit in US$ Benefit in US$


50,000 1,00,000 2,00,000


500 500 500


Personal Accident 25,000 25,000 25,000AD &D Common Carrier 2,500 2,500 2,500Loss of Baggage (Checked)Per baggage maximum 50% and per item in baggage maximum 10%

1,000 1,000 1,000

Bail Bond Insurance 500 500 500Tuition Fee 10,000 10,000 10,000Accident to Sponsor 10,000 10,000 10,000Family Visit 7,500 7,500 7,500Personal Liability 1,00,000 1,00,000 1,00,000

(4.) Health Insurance

Complete Health Insurance for You

Bajaj Allianz's Health Guard Individual option plan is designed to suit all your health

care needs. It takes care of the expensive medical treatment incurred during

hospitalization resulting from serious illness or accident.

Your health is precious to you - it enables you to live your life the way you please. But a

sudden illness or accident can put a stop to your way of living and empty your savings.

Protect yourself with the Bajaj Allianz Health Guard (individual option) - an all-round

policy that covers you against medical expenses including hospitalization, in the event

that you fall ill or have an accident. Now you don't ever have to worry about not having

enough money for treatment in case things go wrong.


Coverage The policy covers hospitalization expenses for you.

You will have access to cashless facility at over 4000 empanelled hospitals across India.(subject

to exclusions and conditions)

Pre and post hospitalization expenses covers relevant medical expenses incurred 60 days prior to

and 90 days after hospitalization.

Covers ambulance charges in an emergency subject to a limit of Rs 1000.

130 daycare procedures are covered subject to terms and conditions.

What Benefits

Family discount of 10% is applicable.

10% cumulative bonus benefit for each claim free year, maximum up to 50%. cumulative bonus

would be passed if continuously renewed with us.

No medical tests upto 45 years, subject to clean proposal form.

Medical tests (pre-policy check-up) are mandatory for members aged 46 years and above.

The pre-policy check up would be arranged at our empanelled diagnostic centers.

100% cost of pre-policy check-up would be refunded if the proposal is accepted and policy is

issued.

In case the member opts for hospitals besides the empanelled ones, the expenses incurred by him

shall be reimbursed within 14 working days from submission of all documents.

Free Health check-up at designated Bajaj Allianz diagnostic centers at the end of 4 continuous

claim-free years.

Income tax benefit on the premium paid as per Section 80D of the Income Tax Act.

Free Look Period: If you would not be satisfied with the coverage, and terms and conditions of

the policy, you have the option of canceling the policy within 15 days of receipt of the policy

documents, provided there has been no claim.

Due to unavoidable reasons, sometimes dates get pushed back a little. That's why you now have

a grace period of 30 days for renewing your existing Bajaj Allianz policy. The policy will be

considered as continuous for all the waiting periods.


Now you will no longer be charged higher premium if there has been a claim in the previous

policy!

Health Guard Individual Policy

Eligible

Entry age for proposer/ spouse is 18 years to 65 years; with lifetime renewing option*.

Children aged 3 months to 25 years can be covered under this policy.

* Please see the brochure for more details.

How does the Health Guard policy benefit me?

In these times of rising medical costs, Bajaj Allianz's Health Guard Policy is the perfect Health

protection for you and your family. It takes care of the expensive medical treatment incurred

during hospitalization resulting from serious accident or illness. The policy covers pre and post

hospitalization expenses and also ambulance charges in case of an emergency (subject to a limit

of Rs. 1000/-)

Are There Any Exclusions? A waiting period of 4 years will be applicable in the case of pre-existing diseases.

Any disease contracted during the first 30 days of commencement of the policy will be excluded

from coverage.

Certain diseases such as hernia, piles, cataract (liability restricted upto 10% of SI, max. upto

Rs.35,000) and sinusitis shall be covered after a waiting period of 2 years.


Treatment consisting of non-allopathic medicine will not be covered.

Congenital external are excluded permanently. Congenital internal have waiting period of 4

years(if disclosed at the time of proposal and policy acceptance)

Cosmetic, aesthetic or related treatments will not be covered.

Treatment will not be covered for use of intoxicating and/or addictive substances like alcohol,

drugs etc.

Joint replacement surgery (other than due to accidents) shall have a waiting period of 4 years

before it is covered.

Health Guard Family Floater Option

Coverage

Medical Expenses During Hospitalization:

We will pay the medical expenses, which are the reasonable charges that You necessarily incur on

the advice of a Doctor, as an in-patient in a Hospital for accommodation; Boarding Expenses

including patients diet as provided by the hospital/ nursing home ; nursing care; the attention of

medically qualified staff; undergoing medically necessary procedures; medical consumables.

Pre and Post hospitalisation expenses

o Pre-hospitalization: We will pay the expenses incurred, in respect of the medical treatment

of an Illness during the consecutive 60-day period immediately preceding Your admission

to Hospital for that Illness, provided that the aforesaid 60 day period commences and ends

within the Policy Period.


o Post-hospitalization: We will pay the expenses incurred, in respect of medical treatment

and essential investigations for a period of upto 90 days after discharge from a Hospital for

medical treatment related to the Illness or Accidental Bodily Injury.

*However in case of renewed policies the pre-hospitalisation period may fall in the previous

policy period.

Emergency Ambulance Charges:

If a claim is accepted, we will also pay the reasonable cost to a maximum of Rs 1000 per valid

hospitalization claim for transferring you / your family members named in the schedule to or

between Hospitals in the hospital's ambulance or in an ambulance provided by any ambulance

service provider.

Medical Check-up:

At the end of every continuous period of 4 years during which you have held Our Health Guard

Family Floater policy without making a claim you / your family members named in the schedule

may apply to us for a free medical check up This beneft also foats over the family member(s)

covered under the policy.

Benefits

Cumulative bonus of 10% to your Limit of Indemnity for every claim free year.

10% cumulative bonus benefit for each claim free year, maximum up to 50%. cumulative bonus

would be passed in case policy is continuously renewed with us.

No medical tests upto 45 years, subject to clean proposal form.

Medical tests (pre-policy check-up) are mandatory for members aged 46 years and above.

The pre-policy check up would be arranged at our empanelled diagnostic centers.

100% cost of pre-policy check-up would be refunded if the proposal is accepted and policy is

issued.

In case the member opts for hospitals besides the empanelled ones, the expenses incurred by him

shall be reimbursed within 14 working days from submission of all documents.


Health check-up at designated Bajaj Allianz diagnostic centers or reimbursement upto Rs.1000/-

at the end of 4 continuous claim-free years. This benefit can be availed by only one member of

the family.

Income tax benefit on the premium paid as per Section 80D of the Income Tax Act.






considered as continuous.

130 Day Care Procedures are covered under the policy.


policy!

Are There Any Exclusions?

There shall be a waiting period of 4 years for pre-existing diseases.

All diseases/injuries existing at the time of proposing this insurance.

Any disease contracted during the first 30 days of commencement of the policy.

Certain diseases such as hernia, piles, cataract (liability restricted upto 10% of SI, max. upto Rs.

35,000), sinusitis shall be covered after a waiting period of 2 years.

Non-allopathic medicine.

Congenital external are excluded permanently. Congenital internal have waiting period of 4

years(if disclosed at the time of proposal and policy acceptance)

All expenses arising from AIDS and related diseases.

Cosmetic, aesthetic or related treatment.

Use of intoxicating drugs and alcohol.

Joint replacement surgery (other than due to accident shall have a waiting period of four years).


Save Tax with Health Insurance

It's common knowledge that buying health insurance helps you to save tax. Under Section 80D

of the Income Tax Act 1961, you can get a maximum tax benefit of Rs.15000 on health

insurance premium paid. The exemption limits are as follows:

An individual can avail an annual deduction of Rs.15000 from taxable income for health

insurance premium paid for self and dependants. 'Dependents,' in this case, refers to spouse and

children.

In the case of senior citizens (aged 60 years and above), the annual deduction from taxable

income goes up to Rs.20000.

But here's a tidbit that might help you save more tax than you think:

If you are paying the premium for your parents' health insurance, you can claim an additional tax

benefit up to Rs.15000 under the provisions of Section 80D.

If your parents are senior citizens (aged 60 years and above), the benefit goes up to Rs.20000.

However, there are a few conditions:

You cannot claim tax benefit on health insurance premium paid for your in-laws.

Proof of payment of premium has to be furnished, in order to avail the tax benefit.

Except cash, any mode of payment is acceptable for claiming tax benefit.

The health insurance premium must be paid from your taxable income of that year only if you

want to claim a deduction.

*Tax benefits are subject to changes in tax laws.

Extra Care


If the sum insured of your existing health insurance plan does not suffice for expenses due to illness or

accidents, the Extra Care health insurance policy takes care of the additional hospitalization expenses.

As health expenses increase, you may find that your base health insurance is no longer sufficient for your

needs. A serious illness or accident can require long term care and complicated treatment that can quickly

become expensive and exhaust your health cover. What do you do then? Bajaj Allianz Extra Care extends

your health insurance cover that ensures you do not run short of money if your health insurance policy

runs out. Secure yourself with Extra Care and never worry about medical expenses again.

Coverages

Medical Expenses: Covered upto the sum insured

Ambulance Charges: Up to Rs.3000/-.

Pre and Post Hospitalisation: Upto 60 and 90 days respectively.

Waiver for Pre-existing Diseases: After 4 years of continuous policy.

Floater Policy (upto 3 Children): Single sum insured for the whole family.

Continuity: Continuity for waiting periods will be given for any policy at any sum insured.

Pre-Acceptance Medical Test: No test till 55 years of age for clean proposals.

Entry Age 3 months-70 years: Renewable for lifetime.

Affordable Premium: Starting at Rs.2500/-.

Benefits

Can be taken as an add-on policy with any health insurance policy.

Income tax benefit on the premium paid as per section 80-D of Income Tax Act as per existing

IT law.

Premium starting at Rs.2500 p.a with sum insured options of Rs.10, 12 or 15 lakhs.

This is a floater policy; thus there will be a single sum insured and single premium for the whole

family.

Competitive premium rates.

No medical tests up to 55 years of age, subject to a clean proposal form.


https://www.bajajallianz.com/Corp/health-insurance/health-insurance.jsp

If would not satisfied with the coverage, and terms and conditions of the policy, you have the

option of canceling the policy within 15 days of receipt of the policy documents, provided there

has been no claim.



considered as continuous.


policy.

Eligible

Age of entry for proposer is 18 years to 70 Years; Renewable for lifetime.

Children from 3 months to 5 years can be covered if both the parents are insured with us.

Children from 6 years to 18 years can be covered if either of the parents is covered with us.

Children from 18 years to 25 years can be covered as self-proposer or as dependents.

The primary member or the proposer can cover self, spouse and 3 children under this policy

Dependent parents can also be covered under this policy, separate policy would be issued to the

parents.

The premium would be calculated as per the highest age of the family member.

Members covered under medical expenses (hospitalization) policy. This policy covers the

medical expenses in excess of the specified deductible amount.

Members who do not have any health policy can also opt for this policy; the expenses up to the

deductible limit (per hospitalization) would have to be borne by the member.

There Any Exclusions?

All diseases/illnesses existing prior to or at the time of proposing this insurance for a period of 4

years.


Any diseases contracted during the first 30 days of inception of the policy.

Congenital diseases and disorders.

Non-allopathic medicine.

Joint replacement surgeries other than due to accident would have a waiting period of 4 years.

All expenses arising out of AIDS and related diseases.

Cosmetic and aesthetic treatments.

Use of intoxicating drugs or alcohol.

Any fertility, sub-fertility, impotence, assisted conception operation, or sterilization procedure.

Deductible

Deductible means the amount stated in the schedule which shall be borne by the insured with

respect to each and every hospitalization claim incurred within the policy period. The company's

liability to make any payment for each and every claim under the policy is in excess of the

deductible. Each and every hospitalization would be considered as a separate claim. (Except

relapse within 45 days, which will be treated as the same claim.)

Deductible Table

Sum insured Deductible Amount

10 lakh 3 lakh

12 lakh 4 lakh

15 lakh 5 lakh

If the claim amount is more than the deductible, the amount above the deductible amount will be

payable up to the sum insured you have opted for.

Premium Personal Guard Policy

Coverage

This policy covers the insured in case of Permanent Total Disability, Permanent Partial

Disability, Temporary Total Disability & Death

Hospital confinement allowance

Accidental Hospitalization Expenses


Value Added Service (VAS) partners providing discounts and special offers exclusively for

Bajaj Allianz Health Insurance customers

Tie-up with more than 4000 Hospitals and 1200 Diagnostic clinics across the country

Benefits

10% cumulative bonus benefit for each claim free year, maximum up to 50%. Cumulative bonus

would be passed if continuously renewed with us.






considered as continuous for all the waiting periods.


policy!

Eligible

Entry age for Proposer and Spouse is 18years to 65 years.

Dependent Children can be covered from 5years to 21years.

Are There Any Exclusions?

Accidental Bodily Injury that you met while:

o Suicide, attempted suicide or self inflicted injury or illness.


https://www.bajajallianz.com/Corp/health-insurance/health-insurance.jsp

o Under the influence of liquor or drugs.

o Arising or resulting from the insured person(s)

o Committing any breach of law with criminal intent.

o Engaging in aviation or ballooning, whilst mounting into, dismounting from or travelling in

any balloon or aircraft other than as a passenger (fare paying or otherwise) in any duly

licensed standard type of aircraft anywhere in the world.

o Participating as the driver, co-driver or passenger of a motor vehicle during motor racing or

trial runs.

o As a result of any curative treatments or interventions that you carry out or have carried out

on your body.

o Arising out of your participation in any naval, military or air force operations whether in the

form of military exercises maintained without a break or war games or actual engagement

with the enemy, whether foreign or domestic.

Your consequential losses of any kind or your actual or alleged legal liability.

Venereal or sexually transmitted diseases.

HIV (Human Immunodeficiency Virus) and/or any HIV related illness including AIDS

(Acquired Immune Deficiency Syndrome) and/or mutant derivatives or variations thereof

however caused.

Pregnancy, resulting childbirth, miscarriage, abortion, or complications arising out of any of

these.

War (whether declared or not), civil war, invasion, act of foreign enemies, rebellion, revolution,

insurrection, mutiny, military or usurped power, seizure, capture, arrest, restraint or detainment,

confiscation or nationalization or requisition of or damage by or under the order of any

government or public local authority.

Nuclear energy, radiation.


Health Insurance Critical Illness

Advantages of Critical Illness Plan

The Critical Illness health insurance plan has the following advantages

The benefit amount is payable once the disease is diagnosed meeting specific criteria and the

insured survives 30 days after the diagnosis.

The insured receives the amount as lumpsum so that he can plan the treatment accordingly.

Expenses like donor expenses in a transplant surgery, which are not covered under normal health

insurance policy, can be paid out of the amount received under this cover both in India &

abroad.

Key Features

The product is offered from 6 to 65 years.

Medical examination may be required in some cases based on the age and the benefit amount

opted by the proposer.

Very competitive premium rates.

Sum insured options of Rs. 100000/- to Rs. 5000000/- for age group of 6 yrs. to 60 yrs.

Sum insured options of Rs. 100000/- to Rs. 500000/- for age group of 61 yrs. to 65 yrs.


Illness Covered

Cancer: A claim can be made if the assured is diagnosed as suffering from a malignant tumour,

which has invaded surrounding tissue. A microscopic examination of the cells will be required to

confirm the claim.

Coronary Artery Bypass Surgery: When coronary arteries become narrowed or blocked they

cannot supply enough blood to the heart muscle. To correct this and prevent risk of death, a

coronary artery bypass surgery is performed in which two sections of artery on either side of the

blockage are connected together. With our health insurance plan - Critical Illness, you can insure

yourself against this serious illness in much the same way as you insure your car and your house.

You will be able to claim if you undergo this surgery for blockage of one or more coronary

arteries.

First Heart Attack (Myocardial Infarction): First heart attack, also known as myocardial

infarction, occurs when part of the heart muscle dies from lack of oxygenated blood. Chest pain

is usually felt at the time of the attack, ECG (electrocardiogram) changes will confirm the

diagnosis. A damaged heart also releases enzymes into the bloodstream and a blood test will

show that the heart attack is recent.

Kidney Failure: The kidneys act as filters and remove waste from the blood. When the kidneys

fail to do this, waste builds up in the blood and leads to severe complications. Although it is

possible to manage with one kidney; if both kidneys fail completely, one will need long-term

dialysis or a transplant.

Major Organ Transplant: Sometimes a major internal organ is so seriously diseased or

damaged that the only effective treatment is replacement with a healthy one. Kidney transplants

are covered under a separate section.

Stroke: A stroke is an incident, which affects the supply of blood to the brain causing permanent

neurological damage such as paralysis or disturbance of speech or vision. Transient ischaemic

attacks are excluded as they do not cause permanent damage and the symptoms do not last for

more than few days.

Aorta Graft Surgery: The aorta is the main artery that supplies oxygenated blood to all other

parts of the body. Sometimes, part of the aorta becomes blocked or weak and may need


replacement. You will be able to claim if you need surgery to remove and replace part or the

entire aorta.

Primary Pulmonary Arterial Hypertension: Primary pulmonary hypertension a progressive

disorder recommended or which was first manifested or contracted before characterized by high

blood pressure (hypertension) of the main artery of the lungs (pulmonary artery). The pulmonary

artery is the blood vessel that carries blood from the heart through the lungs.

Symptoms of primary pulmonary hypertension include shortness of breath (dyspnoea) especially

during exercise, chest pain, and fainting episodes. The exact cause of primary pulmonary

hypertension is unknown.

Multiple Sclerosis with Persisting Symptoms

Permanent Paralysis of Limbs

Coverage

SI available from 1,00,000 to Rs. 50,00,000

Age band - 6 yrs - 59 Years.

Premium Table

Sum

insured

AGE ( in years)

21- 25 26 - 35 36 - 40 41 - 45 46 - 50 51 - 55 56 - 60

100000 200 300 550 800 1200 1750 3000

300000 600 900 1650 2400 3600 5250 9000

500000 1000 1500 2750 4000 6000 8750 15000

1000000 2000 3000 5500 8000 12000 17500 30000


(5.) Home Insurance

My Home Insurance

There is no place like Home, it's our most valued possession and our heaven on

earth. Few things in life matter as much to us, as our home does. After all, it's the

heart of our family, our possessions, our priceless investment and our memories.

You take good care of your home - daily cleaning, regular maintenance, and fresh

paint each year to keep it looking beautiful. But don't stop there! Give your home the

best possible protection from unforeseen incidents with the Bajaj Allianz My Home

Insurance plan.

At Bajaj Allianz, we understand that whatever be the market value of your house,

your home is invaluable. That's why we bring you a comprehensive home insurance

cover - My Home Insurance All Risk Policy which will protect not only your home,

but also the belongings inside it, against risks like fire, burglary and natural

calamities.

Benefits

Provides complete protection for property, contents, and interests of the insured and their family

members in a single policy

Covers your home against loss from fire, burglary and natural calamities

Covers the contents of your home, including portable equipment

Cover for jewellery, valuables, works of art

Additional benefit of rent for alternate accommodation*

Useful add-ons to customise your policy for total protection

Several home insurance plan types with various coverage options for you to choose from


Option to insure either the flat/apartment/building only, or contents only, or both

Affordable premium and attractive rebates

Exclusions:

The policy does not cover loss or damage to the property by or due to or arising from:

Misrepresentation, mis-description, or non-disclosure of any material information.

Damage which is pre-existing in nature (applicable to contents and building).

Manufacturing defects in electrical, mechanical, and electronic items

Home Insurance: House Holders Package Policy

Benefits

Provides protection for property, domestic and electronic appliances, interests of the insured and their family members in a single policy

Affordable premium Attractive rebates

Covered

Section 1 : Fire and Allied Perils

Fire can cause huge damages, which can affect your finances.

This section covers loss or damage to the premises (if specifically declared and insured) and contents whilst contained in the premises due to the following perils:

Fire Lightning Explosion/ Implosion Aircraft Damage Riots, Strike and Malicious Damage Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation


https://www.bajajallianz.com/Corp/property-insurance/householders-policy.jsp

Impact Damage Subsidence and Landslide including Rockslide Bursting and/ or overflowing of Water Tanks, Apparatus and Pipes Missile Testing Operations Leakage from Automatic Sprinkler Installations Bush Fire Earthquake (Fire and Shock)

The sum insured (value denoted for insurance) can be either on:

REINSTATEMENT VALUE basis (Which is the value for replacing the item with a new item of same type and make). At the time of loss the claim will be settled without applying depreciation. In effect you will be getting new for old of breakdown under this policy possibility of losing your baggage during your travel.OR

MARKET VALUE basis (Which is the reinstatement value less depreciation depending on the age of the item). At the time of loss, the claim will be settled after applying depreciation.NOTE: The electronic equipments/TV etc. which you wish to cover under the respective section need not to be insured under this section but can be covered under Theft All Risks, electronic sectionExclusion:

5% of the claim amount for every claim arising out of Act of God perils. Damage due to terrorist activities.

Section 2 - Burglary and Theft

This policy provides you the peace of mind you need, it covers you from

The damage caused due to housebreaking and thefts Protection provided on first loss basis i.e. 40% of the total value of contents along with list of

value needs

The total sum insured should be the market value of the property.

Exclusion: Loss of livestock, motor vehicles, pedal cycles and money stamps (Unless specifically declared.)

Burglary/House breaking where any member of the insured's family is the principal

Section 3 - Jewellery and Precious Items

Jewellery today has become an integral part of our lives for any occasion. We provide a policy which safeguards this asset by covering any jewellery possessed by the insured.

Valuation Certificate is required to cover jewellery and precious items




ection 4 - Breakdown of Domestic Appliances

This section is meant to cover the repair or replacement costs arising from the unexpected mechanical or electrical breakdown of domestic appliances (excluding A.C.) whilst contained in or fixed at the Insured's premises.

Optional Coverage: Air Conditioners can be covered under this section by payment of additional premium @ Rs.10 (Service Tax Extra) per Rs.1000 of Sum Insured.Exclusion on loss or damage for the following:

Willful act or gross negligence of the insured For which manufacturer or supplier is responsible Caused due to wear and tear Mobile phones or similar communication device

Section 5 - Electronic Equipment

This section is meant to cover the repair or replacement costs in respect of electronic equipments caused by any unforeseen and sudden physical loss (except a cause specifically excluded) whilst contained in or fixed at the Insured's premises.

Exclusions: Manufacturing defect Damage resulting due to wear and tear, gradual deterioration, climatic conditions, rust, corrosion

and insects Costs incurred in connection with functional failures due to willful act or gross negligence of the

insured

Deductibles: The Insured shall bear the first 10% or Rs.2500/- (whichever is higher) of any claim concerning computers, and the first 10% or Rs.500/- (whichever is higher) of any claim concerning any other item of electronic equipment

Section 6 - Baggage

This section will cover the accidental loss or damage caused to personal baggage accompanying the Insured or Insured's family while traveling anywhere in India.

Section 7 - Plate Glass

Fixed plate glass at the premises may get damaged due to various reasons. We cover it against the accidental breakage but the details of plate glass along with the value are to be provided.






Exclusions: Breakage during removal, alterations or repairs on the insured premises Disfiguration, scratching or damage of glass other than fracture extending through the entire

thickness of the glass In case the glass is not completely and securely fixed

Section 8 - Pedal Cycles

Pedal cycles are commonly found on the road and also exposed to maximum risk due to constant accidents.

This policy offers you the following benefits: Pedal cycles can be insured against all risks subject to standard exclusions. Third party liability, arising out of the use of pedal cycle is also covered.

Exclusions: Any accident or loss caused in connection with pedal cycle used for hire outside India Damage to accessories by theft if Pedal cycle is stolen at the same time

Section 9 - Personal Accident Insurance

Accidents are sudden and often result in large financial implications. Our policy makes provisions to protect such losses by covering you and your family

members under this section Details of each person along with the amount insured for them have to be mentioned

Section 10 - Personal Liability/Workmens Compensation

Sometimes our actions can cause injuries or property damages to third parties. In such cases coping with the liability can result in a large financial burden. We cover such risks as well





Claim management process


Claim Success Ratio 2014


How to read IRDA Claim Settlement Ratio Table?

Let me explain on how to understand the numbers given in the above table. Let us consider Sl.No 1 which has

data regarding LIC. During the period 2013-14 the total number of claims (no of policies) received by LIC of

India are 7,60,344. This is inclusive Last period’s pending claims and this period’s (2013-14) claims that are

booked or intimated.


7,46,212 no of policies out of total 7,60,344 policies were settled during the period 2013-14. This translates

into a claim settlement ratio of 98.14% for LIC.

The total claimed amount (Benefit Amount) on LIC policies during 2013-14 was Rs 8,905 crore. Out of which

Rs 8,475 crore worth claims are settled.

What is Claims repudiated, Claims Pending & Claims Written Back:

As per the above explanation LIC gets 98.14/100. So, what happened to 1.86% (100-98.14%)of claims (no of

policies)?

These claims fall under the category of claims repudiated or pending or written back. (Repudiated means

Claim rejected. Pending are yet to be settled and Written back claims are ‘sent back for more information’).

Important Points to ponder upon:

LIC of India, ICICI Prudential Life and HDFC Life are the top Life Insurance companies in terms of

best Claim Settlement Ratio (2013-14)

DLF Pramerica and Edelweiss Tokio Life Insurance companies have higher number of Repudiated

Claims

LIC, ICICI and HDFC were the toppers in 2012-13 also.

The claims settlement ratio does not talk about the type of policies i.e., whether the claims that were

received are Term or endowment or money back plans.

New Life Insurance Companies will generally have Low Claim Settlement Ratios

As per IRDAI’s annual report the industry’s settlement ratio had slightly increased to 96.75% in 2013-

14 from 96.41% in 2012-13 and the repudiation ratio had remained almost at the same level of 2.08%

in 2013-14 as in 2012-13 (2.10%).

Before buying any type of plan, do look at the company’s Claim Settlement Ratio


Do not hide any facts while filling the proposal form. This will ensure that your claim (after the

unfortunate event)is settled.

Though Claim Settlement record is one of the important factors while choosing your life insurance

plan, it is advisable to go for only Term Insurance. You can opt for a Term plan based on the claim

settlement record. The other deciding factors can be cost of premium, features, optional riders, quality

of service and your comfort level with the Brand.

Most companies cite incomplete documentation or concealment of facts as a reason for rejecting claims.

Hence, while buying a life insurance it is of utmost importance that you furnish accurate information and

ensure that all paper work is into place. Give importance to claim settlements record and do not get swayed

away by higher returns / tax benefits alone.
