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Bajaj Allianz Life ACE

Bajaj Allianz Life ACE is a truly modular product where you are the one in charge of your financial plan. The product offers a life cover to secure your family in case you are not around, choice of income as you would want or a lump sum to meet your life goals.Read More

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FEATURES

Increasing Income

Increasing Income:
Option that provides increasing income in arrears at 5% p.a. (on compounding basis) every year

Early income

Early income:
Option to receive income as early as from the end of 1 month of your Policy

Decide if you prefer a level income or an increasing income

Decide if you prefer a level income or an increasing income

Deferred income

Deferred income:
Option to defer income for up to 5 years

Decide your policy term from a wide range, i.e. 10 years to 100 years of age

Decide your policy term from a wide range, i.e. 10 years to 100 years of age

Life Cover with Tax benefits^

Life Cover with Tax benefits^

PLAN OPTIONS/VARIANTS

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    Increasing Income option

    • Income Benefit: You shall receive an income which comprises of a Guaranteed² Income and cash bonuses³, if declared. This income is paid in arrears after the end of the Premium Payment Term and Deferment period and is payable till the end of policy term. These incomes will be declared as a percentage of the Benefit Sum Assured. Benefit Sum Assured is guaranteed to increase at 5% p.a. (on compounding basis) every year. The increased Benefit Sum Assured will be used for calculation of respective year’s Guaranteed Incomes and Cash bonuses. Guaranteed Income shall be 2% of the Benefit Sum Assured.
    • Deferment period: You will have an option to defer the start of your income by up to 5 years
    • Maturity Benefit: On maturity of the Policy, you will receive:
      1. Sum Assured on Maturity, i.e.105% of total premiums⁴ paid, plus
      2. Accumulated Income benefits, if any plus
      3. Terminal bonus (if declared)
    • Death Benefit: In case of death of the Life Assured during the policy term, the death benefit will be paid as:
      1. Sum Assured on Death, plus
      2. 105% of Accumulated Income benefits, if any plus
      3. Terminal Bonus (if declared)

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    Early Income Option

    • Income Benefit: You are eligible to receive an income in the form of cash bonuses³that may be declared by the Company every year. You can opt to take this cash bonus monthly/ yearly which gives you an income starting from the end of 1 month/ 1 year after the Deferment period of your Policy. In addition to the cash bonus that may be declared, you shall also receive a guaranteed²Income.The income benefit is payable for the entire policy term.
    • Deferment period: You will have an option to defer the start of your income by up to 5 years
    • Maturity Benefit: On maturity of the Policy, you will receive:
      1. Sum Assured on Maturity, i.e.105% of Total premiums⁴ paid plus
      2. Accumulated Income benefits, if any earlier, plus
      3. Terminal bonus (if declared)
    • Death Benefit: In case of death of the Life Assured during the policy term, the death benefit will be paid as:
      1. Sum Assured on Death plus
      2. 105% of Accumulated Income benefits, if any earlier plus
      3. Terminal Bonus (if declared)

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    Wealth Option

    • Maturity Benefit: On maturity, you will receive a lumpsum amount equal to:
      1. Maturity Sum Assured, i.e. Maturity Sum Assured Rate x Annualised Premium, plus
      2. Accrued Simple Reversionary Bonus (if declared),plus
      3. Terminal Bonus (if declared)
    • Death Benefit: In case of death of the Life Assured during the policy term, the death benefit will be paid as:
      1. Sum Assured on Death, plus
      2. Accrued simple reversionary bonus (if declared), plus
      3. Terminal Bonus (if declared)

Note:

• The Sum Assured on Death will be 11 times of Annualised premium. At no time the Death Benefit will be 4 less than the Guaranteed Death Benefit of 105% of Total Premiums paid. If there is any shortfall, the same will be added to the Death Benefit.

• The death benefit will be paid-out as a lump-sum, and the policy will terminate if not opted to take the death benefit in instalments.

• Annualised Premium is exclusive of any extra premium, rider premium, GST & cess, if any.

• Total Premium is the sum total of all the premiums received and is exclusive of extra premium, rider premium and GST & cess, if any.

• Please note that GST & cess (if any) will be collected over and above the premium under the policy.

• The Benefit Sum Assured will be used for the calculation of Guaranteed Income, Cash Bonus , Simple Reversionary Bonus and Terminal Bonus and will not paid on any event.

• Sum Assured on Maturity is equal to (i) 105% of the Total Premiums paid under Early Income and (ii) Maturity Sum Assured under Wealth option

ELIGIBILITY

Eligibility

  • Click on Know More for Eligibility

Know More

Documentation

  • ID Proof
  • Age Proof

Bajaj Allianz life guaranteed pension goal

Disclaimer

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS - IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.Read More

^Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.
2Conditions Apply - The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors. ³Bonuses are not guaranteed and it depends on the Company's Performance. 4Total Premium (the sum of all premiums paid under the policy; even refers to the Single Premium) is total of all the premiums received, exclusive of extra premium, rider premium and GST & /any other applicable tax levied, subject to changes in tax laws.

Risk Factors and Warning Statements:Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz Life ACE are the names of the company and the product respectively and do not in any way indicate the quality of the product and its future prospects or returns. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on www.bajajallianzlife.com) carefully before concluding a sale. Bajaj Allianz Life ACE - A Non linked, Participating, Individual Life Insurance Savings Plan. Regd. Offi¬ce Address: Bajaj Allianz House, Airport Road, Yerawada, Pune - 411006, IRDAI Reg. No.: 116, CIN: U66010PN2001PLC015959, Call us on toll free No.: 1800 209 7272, Mail us : customercare@bajajallianz.co.in, Bajaj Allianz Life ACE (UIN:116N186V01). The Logo of Bajaj Allianz Life Insurance Co. Ltd. is provided on the basis of license given by Bajaj Finserv Ltd. to use its “Bajaj” Logo and Allianz SE to use its “Allianz” logo. All charges/ taxes, as applicable, will be borne by the Policyholder.

IDFC FIRST Bank Ltd is a Corporate Agent for Bajaj Allianz Life Insurance Company Limited and is registered with Insurance Regulatory and Development Authority of India bearing registration number CA0106. This Plan is offered and underwritten by Bajaj Allianz Life Insurance Company Limited. The purchase of an insurance plan by the customer is purely on voluntary basis.Read Less

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