bajaj allianz smart insurance plan iii · “in this policy, the investment risk in investment...

“IN THIS POLICY, THE INVESTMENT RISK IN

INVESTMENT PORTFOLIO IS BORNE BY THE

POLICYHOLDER”

Bajaj Allianz

Smart Insurance

Plan IIIMake a smart move

Bajaj Allianz Smart Insurance Plan III

At Bajaj Allianz we believe in insurance with systematic savings which turns into financial security for you and your family in future. With this in mind, we present Bajaj Allianz Smart Insurance Plan III, an insurance plan that gives you a unique combination of protection and savings.

Smart Insurance Plan III

Key Benefits of Bajaj Allianz Smart Insurance Plan III

The plan offers you the key benefits of:

How does Smart Insurance Plan III works

What are my Investment Options?

a) Accelerator Mid-Cap Fund II - Risk Profile – Very High

(SFIN: ULIF05206/01/10ACCMIDCA02116)

b) Equity Growth Fund II - Risk Profile – Very High

(SFIN: ULIF05106/01/10EQTYGROW02116)


c) Pure Stock Fund – Risk Profile – Very High

(SFIN:ULIF02721/07/06PURESTKFUN116)

d) Asset Allocation Fund - Risk Profile – High

(SFIN: ULIF04528/09/07ASSETALLOC116)

e) Liquid Fund- Risk Profile – Low

(SFIN: ULIF02510/07/06LIQUIDFUND116 )

f) Bond Fund- Risk Profile – Moderate

(SFIN: ULIF02610/07/06BONDFUNDLI116 )


g) Bluechip Equity Fund - Risk Profile –High

(SFIN: ULIF06026/10/10BLUECHIPEQ116)

Premium Apportionment:

Death Benefit

Loyalty Addition


Maturity Benefit

Surrender Benefit

Additional Rider Benefits

Definitions

Fund value:

Regular premium fund value:

Top up premium fund value:


Unit Price:

Valuation Date:

Discontinued Policy Fund:

Discontinuance Value:

Computation of NAV

Sample Illustration*

Age Maturity Age Policy Term Premium

Payment

Term

Premium

p.a.

Sum Assured Fund Value

at maturity

@ 6%

Fund Value

at maturity

@ 10%


Flexibilities

Switching Option

`

Option to make lump sum investment

`

Current Age Top-Up Sum Assured Multiplier

Less than 45 years 1.25 to 5 times

Greater than or equal to 45 years 1.1 to 5 times

(The default choice is 1.25 times for current ages less than 45 years & 1.1 times for other ages)

Option to decrease the sum assured

Option to change premium payment frequency

Option to change the premium payment term


Partial Withdrawal Option

`

Settlement Option


Important Details of the Plan

Parameter Details

Minimum Entry Age 1 years (18 years in case of Additional Rider Benefits)

Maximum Entry Age 60 years (50 years in case of Additional Rider Benefits)

Minimum Age at Maturity 18 years

Maximum Age at Maturity 75 years (Additional Rider Benefits ceasing Age 65 years)

Policy Term 10, 15 and 20 years

Minimum Premium Payment Term 6 years

Maximum Premium Payment Term Policy Term

Minimum Regular Premium ` 50,000 per yearly, half- yearly & quarterly installments `17,000 per monthly installment (Monthly mode is available through ECS and Salary Saving Scheme only). No charges are applicable with respect to the mode chosen.

Maximum Regular premium No Limit

Minimum Top Up Premium `5,000

Maximum Top Up Premium No Limit

Minimum Sum Assured 10 times Annualized Premium for entry age below 45 years. 7 times Annualized Premium for entry age 45 years & above

Maximum Sum Assured Policy Term times Annualized Premium. If any rider has been opted then maximum sum assured shall be same as the minimum sum assured.

What happens if I am unable to pay my regular premiums?


During the policy year Discontinuance charge

1 6% of lower of (AP,RPFV) subject to Max ` 6,000




5 + Nil

Foreclosure

Revival of the Policy

Days of Grace


Termination Conditions

Fund Access – Policy Loan

Tax Benefits

Free Look Period


What are the Charges under the Plan?

Table Charges

Charges Details

Premium AllocationCharge

Regular PremiumDue in Policy Year

Premium AllocationCharge

1 9%

2 to 5 6%

6 to 15 2%

16 & above 0%

Top Up Premium : 2% of the Top Up Premium

Policy Administration Charge Rs. 40 per month inflating at 5% p.a.This charge will be deducted at each monthly anniversary by cancellation of units

Fund ManagementCharge (FMC)

FundFund Management Charge per annum

(as percentage of fund value)

Equity Growth Fund II 1.35%

Accelerator Mid Cap Fund II 1.35%

Pure Stock Fund 1.35%

Asset Allocation Fund 1.25%

Bluechip Equity Fund 1.25%

Liquid Fund 0.95%

Bond Fund 0.95%

This charge would be adjusted in unit price

Switching Charge Nil

Miscellaneous Charge Rs. 100/- per transaction in respect of decrease in sum assured, change in premium payment term, alteration of premium payment frequency, change of premium ap-portionment, decrease in sum assured or issuance of a copy of policy document

Mortality & Additional Risk Charge

Mortality Charge will be deducted at each monthly anniversary 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. 1.57 1.74 2.82 6.53

Sum at risk is equal to Regular Premium Sum assured minus Regular Premium Fund Value Plus Top Up Premium Sum assured minus Top Up Premium Fund ValueAn additional risk charge of Re. 1.00 per thousand of (regular premium) sum as-sured will be charged towards the inbuilt accidental death cover from age 7 years.

Rider Charge Please refer to Additional Rider Benefit brochures for rider charge details.

Service Tax As applicable


Revision of Charges

Exclusion

General Exclusion

Exclusions for the payment of additional sum assured on death due to accident:

Risks of Investment in the Units of the Plan


Prohibition of Rebate: Section 41 of the Insurance Act, 1938 states

Contact Details

Call Any Mobile & Landline

1800 209 5858 020 30587888

Email: [email protected] Chat: bajajallianzlife.co.in/chat

For More Information:

SECTION 45 of the Insurance Act 1938

Why Bajaj Allianz Life Insurance?

Please draw your cheques/ demand drafts in favour of “Bajaj Allianz Life Insurance Company Limited.


BJAZ-PB-0361/7-Nov-13

bajaj allianz smart insurance plan iii · “in this policy, the investment risk in investment...

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