Bajaj Allianz

Lifelong
Assure
A Non-Linked Whole Life Plan

Bajaj Allianz Lifelong Assure

Bajaj Allianz Lifelong Assure - Assuring you lifelong income
with a lifelong cover!
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
th not possible. Helping you with a solution, we at Bajaj Allianz
Future safe till your 100 birthday developed Lifelong Assure – a unique plan that provides
you income & protection till your 100th birthday so that you
can live worry-free for a lifetime.

Bajaj Allianz Life Insurance Co. Ltd.

Bajaj Allianz
Lifelong Assure

Key Advantages
Bajaj Allianz Lifelong Assure is a participating individual limited premium whole life endowment plan. The key advantages of this
plan are:
• 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
• Premium rebate for female lives
• Option to enhance your coverage with rider benefits

How does your Plan work?

You can customize your policy to suit your requirement in the following manner:
Step 1: Choose your Sum Assured
Step 2: Choose your Premium Payment Term (PPT)
Your premium will be based on your current age, Sum Assured, PPT & premium payment frequency.

Benefits payable
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 6th 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, will be paid and the policy will terminate.

PPT Sum Assured on Maturity

10 years 200% of Sum Assured
15 years 250% of Sum Assured
20 years 300% 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
i) 10 times annualised premium*
ii) 105% of total premium* paid till date of death
Bajaj Allianz
Lifelong Assure

iii) 200%, 250% or 300% of sum assured depending on the PPT chosen.
b. For age at entry 45 years & above, higher of
i) 7 times annualised premium*
ii) 105% of total premium* paid till date of death
iii) 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

Additional Rider Benefit

You can enjoy extra coverage by choosing the optional additional rider benefits at a nominal extra cost. The riders available
with Bajaj Allianz Lifelong Assure are:
1. Bajaj Allianz Accidental Death Benefit Rider UIN: 116B034V01
2. Bajaj Allianz Accidental Permanent Total/ Partial Disability Benefit Rider UIN: 116B036V01
3. Bajaj Allianz Critical Illness Benefit Rider UIN: 116B035V01
4. Bajaj Allianz Family Income Benefit Rider UIN: 116B037V01
5. Bajaj Allianz Waiver of Premium Benefit Rider UIN: 116B031V01
Please refer to respective rider sales literature or visit Company website or consult your “Insurance Consultant” for more
details and eligibility conditions.

Sample Illustration
Ravi aged 30 years has taken a Bajaj Allianz Lifelong Assure policy for a premium paying term of 20 years. The Sum Assured
chosen by him is ` 5,00,000 for which he is paying an annual premium of ` 51,805 after a high sum assured rebate of ` 4000.
The benefits received by Ravi will be as follows.

On Maturity
300% of
Sum Assured

Incase of unfortunate death at age 65 years, the nominee will receive ` 15,00,000

Death Benefit
will be paid
Bajaj Allianz
Lifelong Assure

Benefit payable in case of death of Investment Investment

Life Assured at age 65 years Return @8% p.a. Return @4% p.a.
Total Premium Paid ` 10,36,100* ` 10,36,100*
Total Non-Guaranteed Cash Bonus Paid ` 8,70,000 ` 1,08,750
Total Guaranteed Cash Back ` 2,25,000 ` 2,25,000
Death Benefit ` 15,00,000 ` 15,00,000
Total Benefit Received ` 25,95,000 ` 18,33,750

*Premium shown above is exclusive of Service Tax & cess, and any extra premium and is for illustrative purpose only.
For female lives 3 year age set back is applicable in premium calculation. For substandard and smokers extra premium shall be
charged as per board approved underwriting norms
Cash bonus mentioned above is not guaranteed and will be based on actual experience.

Features
Loan
You can avail loans under your policy, provided your policy has acquired a surrender benefit. The loan amount shall be up to 80% of
the surrender value.

Option to take Policy Benefits in monthly installments

You or your nominee will have the option to take the maturity benefit or death benefit in equal monthly installments over a period
of 5 or 10 years from the date of maturity or the date of intimation of death. The same needs to be informed prior to the date of
maturity or in writing at the time of filing the death claim form.
Each monthly installment will be an amount equivalent to:
• For 5 years: factor1 * maturity/death benefit divided by 60
• For 10 years: factor2 * maturity/death benefit divided by 120
Where factor1 is 1.04 for a 5-year term and factor2 is 1.08 for a 10-year term.
After approval from IRDAI, these factors can be revised in the future.
The policyholder or the nominee will have the option at any time to discontinue receiving the monthly installment during the
installment period.
On receiving the request, the policyholder or nominee will be eligible for an amount equal to the maturity or death benefit (as
applicable) less the total amount of installments already paid as on the date of request.

High Sum Assured Rebate (HSAR)

The plan offers an attractive premium discount structure, where you can have a discount on the annual premium for each
complete additional ` 1,000 sum assured purchased over and above the minimum sum assured of ` 1,00,000 as mentioned in
the table below:
Bajaj Allianz
Lifelong Assure

Age Band HSAR (in `) for PPT Example: Ravi aged 30 years has taken a Bajaj Allianz Lifelong Assure policy
(in years) 10 yrs 15 yrs 20 yrs for a premium paying term of 20 years & Sum Assured of ` 5,00,000. The
10 to 25 19 15 14 annual premium will be ` 55,805 before high sum assured rebate. After a
26 to 40 14 12 10
high sum assured rebate of ` 4000, the annual premium will be ` 51,805.
41 to 55 11 9 8

Tax Benefits
Premium paid are eligible for tax benefits under section 80C of the Income Tax Act and maturity benefit, death benefit and
surrender benefit 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 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).
• The GSV will be a percentage of premiums paid less the total of all the Guaranteed Cash Backs, where premiums paid are
excluding premiums for all additional rider benefits if any, and extra premiums, if any.

Policy Surrender Year 3 4 to 20 21 to 25 26 to 30 31 to 35 36 to 40 41 onwards

Proportion of the premiums paid till date 30% 50% 52% 53% 56% 60% 65%

• The SSV factors are not guaranteed and may change from time to time subject to the approval of IRDAI.
Example: Ravi aged 30 years has taken a Bajaj Allianz Life Long Assure policy for a policy term (PT) of 70 years. The Sum Assured
chosen by him is ` 5,00,000 for which he has paid total 5 annual premium of ` 431,525 for premium paying term of 10 years. At
the end of 5th year he wants to surrender. The surrender value received by Ravi will be as follows.
GSV = ` 215,763 (50% of total premiums paid)
Outstanding term = 65 years, surrender factor = 0.950359, reduced sum assured = 250,000;
SSV = 0.950349 *250,000= ` 237,587
Surrender value payable = ` 237,590 (Higher of GSV or SSV will be payable as a Surrender value)

Early Termination Value

If at least one full year’s premiums have been and twelve months have been completed but three full years’ premiums have not
been paid, the early termination value will be available.
In case of early termination by the policyholder or non-payment of due premium during this period, the following Early
Termination Value will be paid:

1 11%
2 15%
Where premiums taken are excluding any extra premium, rider premium and/or any service tax & cess on premium.

This early termination value will be paid on request for termination of the policy by policyholder, death or end of the revival period,
whichever happens earlier.
Bajaj Allianz
Lifelong Assure

Product Terms and Conditions

Eligibility Condition
Parameter Details
Minimum Entry Age 10 years
Maximum Entry Age 55 years
Policy Term 100 minus Age At Entry
10, 15 and 20 years
Minimum Premium Frequency PPT 10 PPT 15 PPT 20
Yearly ` 18,303 ` 13,401 ` 10,811
Half-Yearly `10,000 ` 8,500 ` 7,000
Quarterly ` 5,500 ` 4,625 ` 3,875
Monthly `2,000 `1,667 ` 1,471
Maximum Premium No limit
Minimum Sum Assured ` 100,000
Maximum Sum Assured No limit
Premium Payment Frequency
Monthly premium payment frequency will be
available under salary deduction scheme & ECS.

What happens if you are unable to pay your premiums?

If you have not paid first 3 years’ premiums in full, then, your policy will immediately lapse at the expiry of the grace period.
If you have paid at least 3 years’ premiums in full and stopped paying subsequent premiums, then,
a) Your policy will be converted to a paid-up policy with a reduced sum assured.
b) The maturity or death benefit, if the premiums are discontinued after 3 years’ premiums have been paid in full, will reduced
sum assured as mentioned in the table below:

PPT
10 years 200% of Reduced Sum Assured
15 years 250% of Reduced Sum Assured
20 years 300% of Reduced Sum Assured

c) If at least 5 years’ premiums have been paid in full, then, guaranteed cash back and cash bonus (if any) will be paid, based on
the reduced sum assured.
You may revive your lapsed/paid-up policy during the revival period of 2 years from the due date of first unpaid premium,
subject to the revival conditions under the plan.

Revival
If your policy is lapsed/paid-up due to non-payment of premium, you may revive the policy subject to the following conditions:
a) The application for revival is made within two (2) years from the date of the first unpaid premium;
b) All the due premiums together with interest at such rate as the Company may decide from time to time is paid.
c) Satisfactory evidence of your good health, at your expense, is submitted;
d) The revival of the policy may be on terms different from those applicable to the policy before it lapsed/became paid-up, based
Bajaj Allianz
Lifelong Assure

on prevailing Board approved underwriting norms;

e) The revival will take effect only on it being specifically communicated by the Company to the policyholder;
f) The Company may refuse to revive the policy, based on the Board approved underwriting guidelines.
g) The due but unpaid Guaranteed Cash Back and Cash Bonus as on the date of revival will be paid immediately.

Foreclosure
If you have taken loan and the outstanding loan plus the loan interest, in a paid-up policy, become equal to the surrender
value available under the policy, then, your policy shall be foreclosed after a notice to you, and no further benefits under the
policy will be payable.

Termination
This policy shall automatically and immediately terminate on the earlier occurrence of either of the following events:
a) On payment of Early Termination Value.
b) On full surrender of the policy on receipt of valid documents for the same.
c) At the end of the revival period, if premiums have not been paid during the first three (3) policy years.
d) On the date of intimation of death of the life assured.
e) On date of foreclosure of the policy, if outstanding loan plus interest under a paid-up policy exceeds the surrender
benefit.
f) On the maturity date.

Grace Period
If you have failed to make payment of the premium by the due date specified, you will be allowed a grace period of 30 days for
premium payment frequencies other than monthly and 15 days for monthly frequency to pay the due premium.
If the death of the life assured occurs during the grace period, the death benefit shall be payable under the policy as if the
policy was in force for full Sum Assured after deduction of the outstanding premiums (including extra premium, rider
premium, service tax and cess, if any), if any, due under your policy as on that date.

Definitions
1) Sum Assured: This is the amount you need to choose at inception of the policy to decide the survival benefits, death
benefit, maturity benefit and, if applicable, the surrender benefit under the your policy.
2) Reduced Sum Assured: This is applicable when you discontinue the payment of premium under your policy after paying
at least 3 years’ premiums in full. This amount is arrived at, as on due date of discontinuance, by multiplying Sum Assured
with the ratio of number of premiums paid to the number of premiums payable under your policy.
3) Bonus: The Company will carry out annual valuation (as per the current IRDAI regulation) at the end of each financial year
and may declare following the bonuses.
a. Cash Bonus: After the premium paying term, the Company may declare cash bonus as a percentage of the sum
assured which will be payable at the end of every year for the applicable policies.
b. Interim Cash Bonus: The Company may declare interim cash bonus, which will be payable for the deaths or
maturities occurring during the inter-valuation dates.
Bajaj Allianz
Lifelong Assure

Free Look Period

Within 15 days [thirty (30) days in case this policy is issued under the provisions of IRDAI Guidelines on Distance Marketing* of
Insurance Products] of the receipt of this policy, you will have the option to review the terms and conditions of the policy and if
you disagree to any of the terms & conditions, you will have an option to return the policy stating the reasons for your
objections. You shall be entitled to a refund comprising the all premiums (excluding applicable taxes) paid, less the
proportionate amount of risk premium & additional rider benefit premium, if any, for the period the life assured was on cover
and the expenses incurred by the Company on medical examination and stamp duty charges.
* Distance Marketing is done through website and tele calling.

Exclusions
If the life assured commits suicide, whether sane or insane, the Company’s liability shall be limited to the extent of
• if the date of death is 1 year from the date of commencement of risk, 80% of the premium paid;
• if the date of death is 1 year from the date of the latest revival, 80% of the premium paid or the surrender value as on the
date of intimation of death, whichever is higher.
The validity of the contract of insurance will be determined in accordance with the actual date of death of the life assured and
not the date of intimation of death.

Statutory Information
Assignment: Section 38 of the Insurance Act, 1938
Assignment shall be in accordance with provisions of section 38 of the Insurance Act 1938 as amended from time to time.

Nomination: Section 39 of the Insurance Act, 1938

Nomination shall be in accordance with provisions of section 39 of the Insurance Act 1938 as amended from time to time.

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

“No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or
continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the
commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing
a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the
insurer.
Any person making default in complying with the provisions of this section shall be punishable with a fine which may extend upto
ten lakh rupees.”

Fraud, Misrepresentation & Forfeiture- Section 45 of the Insurance Act, 1938

Fraud, Misrepresentation and forfeiture would be dealt with in accordance with provisions of section 45 of the Insurance Act 1938
as amended from time to time.
Bajaj Allianz
Lifelong Assure

Why Bajaj Allianz Life Insurance?

Bajaj Allianz is a joint venture between Bajaj Finserv Limited and Allianz SE. Both enjoy a reputation of expertise, stability and
strength. This joint venture Company incorporates global expertise with local experience. The comprehensive, innovative
solutions combine the technical expertise and experience of Allianz SE, and in-depth market knowledge and goodwill of “Bajaj
brand” in India. Competitive pricing and quick honest response have earned the Company the customer's trust and market
leadership in a very short time.

Disclaimer
This sales literature gives the salient features of the plan only. The policy document is the conclusive evident of contract and
provides in details all the conditions and exclusions related to Bajaj Allianz Lifelong Assure.

Contact Details
Bajaj Allianz Life Insurance Company Limited, G.E. Plaza, Airport Road, Yerawada, Pune - 411 006.
Reg. No.: 116 | Fax: (020) 6602 6789. | www.bajajallianz.com | BALIC CIN :U66010PN2001PLC015959

SMS LIFE 56070

For any queries please contact: /Bajaj Allianz Life Insurance

BSNL/MTNL Any Mobile & Landline

(Toll Free) (Toll Free)
1800 233 7272 1800 209 7272

Mail us : [email protected] chat: bajajallianzlife.co.in/chat

Bajaj Allianz Lifelong Assure UIN : 116N122V01

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

IRDAI clarifies to public that -
• IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.
• IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of
phone call, number.

For More Information: Kindly consult our “Insurance Consultant” or call us today on the TOLL FREE numbers mentioned
above. This brochure should be read in conjunction with the Benefit Illustration and Policy Exclusions. Please ask for the
same along with the quotation.
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. Insurance is the subject matter of solicitation
By submitting your contact details or responding to Bajaj Allianz Life Insurance Co. Ltd., with an SMS or Missed Call, you authorize Bajaj Allianz
Life Insurance Co. Ltd. and/or its authorized Service Providers to verify the above information and/or contact you to assist you with the
purchase and/or servicing.
BJAZ-PB-0458/8-Feb-16