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Bajaj Allianz life - Eligibility
 

 

LIFE COVER

      Age at Entry

Minimum 18 - Maximum 65 years

Maximum Age at Maturity

With ROP

75 years

Without ROP

85 years

Whole Life

99 years

      Sum Assured

 

Minimum- 50 lakhs

Maximum- As per Board Approved Underwriting Guidelines

Policy Term (PT) / Premium Payment Term (PPT)

 

Premium Type for Variant

Minimum

Maximum

PT (years)

PPT (years)

PT (years)

PPT (years)

Without ROP

RP

5

5

85 minus Age at Entry

67

LP7

6

5

85 minus Age at Entry

30

SP

5

1

40

1

With ROP

RP

10

10

75 minus Age at Entry

57

LP7

10

5

75 minus Age at Entry

30

SP

10

1

40

1

Whole Life

RP

Not Available

LP7

99 minus Age at Entry

5

99 minus Age at Entry

30

SP

Not Available

Eligibility for Add-On Covers (if opted) with this Variant:

Age at Entry

Minimum 18 years - Maximum 65 years

Maximum Age at Maturity

With ROP

75 years

Without ROP

80 years

Whole Life

Sum Assured for ADB / ATPDB

Minimum 5 lakhs - Maximum 2 Crores

Sum Assured for CIB

Minimum 5 lakhs - Maximum 1 Crore

Add-on cover

Premium Type for Variant

Minimum

Maximum

PT (years)

PPT (years)

PT (years)

PPT (years)

“ADB/ATPDB” Without ROP

RP

5

5

80 minus Age at Entry

62

LP7

6

5

80 minus Age at Entry

30

SP

5

1

40

1

“ADB/ATPDB” With ROP

RP

10

10

75 minus Age at Entry

57

LP7

10

5

75 minus Age at Entry

30

SP

10

1

40

1

“ADB/ATPDB” With Whole Life

RP

Not Available

LP7

6

5

80 minus Age at Entry

30

SP

Not Available

 “CIB & WOPB” Without ROP

RP

5

5

80 minus Age at Entry

62

LP7

5

5

30

30

SP

Not Available

 “CIB & WOPB” With ROP

 

RP

10

10

75 minus Age at Entry

57

LP7

10

10

30

30

SP

Not Available

 “CIB & WOPB” With Whole Life

RP

Not Available

LP7

5

5

30

30

SP

Not Available

7For Limited Premium Payment & for Add-on Cover(s) opted, the PPTs available are 5, 10, 15, 20, 25, 30 years; subject to maximum PPT cessation age of 75 years. For Limited Premium with ROP option, the minimum difference between PT and PPT should be 5 years

Note:

·         The cover period for CIB / WOPB will always be equal to CIB / WOPB Premium Payment Terms respectively

·         However, the cover period and premium payment term for CIB can be less than or equal to the Variant Premium Payment Term

·         CIB is not available if Single Premium Payment has been opted for in the Variant

 

 

LIFE COVER WITH CHILD EDUCATION EXTRA COVER

Age at Entry

Minimum 18 years - Maximum 65 years

Nominee’s Age for CEEC

Minimum 0 years - Maximum 18 years

Maximum Age at Maturity

85 years

Sum Assured

Minimum- 50 lakhs

Maximum- As per Board Approved Underwriting Guidelines

Policy Term (PT) / Premium Payment Term (PPT)

 Premium Type for Variant

Minimum

Maximum

PT (years)

PPT (years)

PT (years)

PT (years)

RP

5

5

85 minus Age at Entry

67

LP7

6

5

85 minus Age at Entry

30

SP

5

1

40

1

Premium Type for CEEC

Minimum

Maximum

PT (years)

PPT (years)

PT (years)

PPT (years)

RP

25 minus Age at Entry (of Child Nominee)8

5

25 minus Age at Entry (of Child Nominee)8

25

LP7

5

20

SP

1

1

8The CEEC policy term is {25 – Age at Entry of the Child (Nominee)} subject to such policy term not exceeding the policy term of the variant

Eligibility for Add-On Covers (if opted) with this Variant:

Age at Entry

Minimum 18 years - Maximum 65 years

Maximum Age at Maturity

80 years

Sum Assured for ADB / ATPDB

Minimum 5 lakhs - Maximum 2 Crores

Sum Assured for CIB

Minimum 5 lakhs - Maximum 1 Crore

Add-on cover

Premium Type for Variant

Minimum

Maximum

PT (years)

PPT (years)

PT (years)

PPT (years)

ADB/ATPDB

RP

5

5

80 minus Age at Entry

62

LP7

6

5

80 minus Age at Entry

30

SP

5

1

40

1

CIB & WOPB

RP

5

5

80 minus Age at Entry

62

LP7

5

5

30

30

SP

Not Available

 

7For Limited Premium, the PPTs available are 5, 10, 15, 20, 25, 30 years in all variants and add-on covers subject to maximum PPT cessation age of 75 years.

Note:

·         The cover period for CIB / WOPB will always be equal to CIB / WOPB Premium Payment Terms respectively

·         However, the cover period and premium payment term for CIB can be less than or equal to the Variant Premium Payment Term

·         CIB is not available if Single Premium Payment has been opted for in the Variant

 

 

LIFE COVER WITH JOINT LIFE

Age at Entry

Minimum 18 years - Maximum 65 years

Maximum Age at Maturity

85 years

Sum Assured

Minimum- 50 lakhs

Maximum- As per Board Approved Underwriting Guidelines

Policy Term (PT) / Premium Payment Term (PPT)

Premium Type for Variant

Minimum (in years)

Maximum (in years)

PT

PPT (Without WOPB)

PPT (With WOPB)

PT

PPT (Without WOPB)

PPT

(With WOPB)

RP

5

5

5

85 minus Age at Entry

67

62

LP7

6

5

5

85 minus Age at Entry

30

30

SP

5

1

NA

40

1

NA

7For Limited Premium, the PPTs available are 5, 10, 15, 20, 25, 30 years in all variants and add-on covers; subject to maximum PPT cessation age of 75 years.

Note:

·         The cover period for WOPB will always be equal to WOPB Premium Payment Terms respectively

 

 

INCREASING LIFE COVER

Age at Entry

Minimum 18 years - Maximum 65 years

Maximum Age at Maturity

85 years

Sum Assured

Minimum- 50 lakhs

Maximum - As per Board Approved Underwriting Guidelines

Policy Term/ Premium Payment Term

 

Premium Type for Variant

Minimum (in years)

Maximum (in years)

PT

PPT (Without WOPB)

PPT

(With WOPB)

PT

PPT (Without WOPB)

PPT (With WOPB)

RP

5

5

5

85 minus Age at Entry

67

62

LP7

6

5

5

85 minus Age at Entry

30

30

SP

5

1

NA

40

1

NA

7For Limited Premium, the PPTs available are 5, 10, 15, 20, 25, 30 years in all variants and add-on covers; subject to maximum PPT cessation age of 75 years.

Note:

·         The cover period for WOPB will always be equal to WOPB Premium Payment Terms respectively

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