Invest Assure
Plan that keeps future safe without ifs and buts
Bajaj Allianz
Invest Assure A Non-linked Endowment Plan
Assuring protection with financial benefits!
It takes only a moment to make promises and a lifetime to keep them. When you promise to see your family through thick and thin, you need to make sure that you have planned for all the eventualities that may befall on them. You need to be prepared that even if there ever is an instance that you are not there with them, you have saved enough to see them through their entire life. We understand this need and have developed Bajaj Allianz Invest Assure - A participating limited pay endowment plan that assures you protection for your family by providing financial benefits.
Invest AssureKey Advantages
Bajaj Allianz Invest Assure is a non linked, participating, individual, limited premium, endowment plan. The key advantages of this
plan are:
• Optiontochoose1.25timesor2timesofSumAssuredaslifecover
• Compoundreversionarybonusandterminalbonus
• Limitedpremiumpaymentterm
• Optiontotakepolicybenefitinmonthlyinstallments
• Morevalueformoneywithhighsumassuredrebate
How does your plan work?
You can customize your policy to suit your requirement in the following manner:
Step 1: ChooseyourPlanVariant–GoldorSilver
Step 2: ChooseyourSumAssured
Step 3: ChooseyourPolicyTerm(PT)
Step 4: ChooseyourPremiumPaymentTerm(PPT)fromavailableoptions
Benefits payable
• MaturityOnthematuritydate,ifallpremiumsarepaid,theSumAssuredplusvestedbonusandterminalbonus,ifany,underyourpolicy,will
be paid and the policy will terminate
• DeathIfallduepremiumsarepaid,then,incaseofunfortunatedeathofthelifeassuredduringthepolicyterm,theSumAssuredonDeath
plus vested bonus, if any plus terminal bonus, if any, will be payable.
TheSumAssuredonDeathisthehigherof:
• 10timesofannualisedpremium*forageatentrylessthan45yearsor7timesannualisedpremium*forageatentry
45yearsandaboveOR
• 105%oftotalpremium*paidtilldateofdeathOR
• 1.25timesor2timesofSumAssured
* Annualized Premium and total premium is exclusive of extra premium and service tax and cess, if any
Invest Assure
Sample Illustration
Rameshaged27yearshastakenaBajajAllianzInvestAssurepolicyandhasoptedtheGoldvariantforapolicytermof23yearsand
premiumpayingtermof13years(byselectingaPPTof‘PTminus10’,i.e.,23-10=13).TheSumAssuredchosenbyhimis`5,00,000
for which he is paying an annual premium of `28,790afterahighsumassuredrebateof`4,000.
The maturity benefits received by Ramesh will be as follows:
In case of unfortunate death at age 35 years, the nominee will receive `10,85,830
The premiums mentioned above are exclusive of any extra premium loading and/or service tax & cess.
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
Vested bonus (CRB) mentioned above are not guaranteed and will be based on actual experience.
Sum Assured plusCRB plus Terminal
bonus on Maturity i.e7,88,450`
2 times of theSum Assured plusCRB on Death i.e.
10,85,830`
Invest AssureFeatures
Loan
Youcanavailloanunderyourpolicy,providedyourpolicyhasacquiredasurrendervalue.Theloanamountshallbeupto90%ofthe
surrender value of your policy.
High Sum Assured Rebate
The plan offers an attractive premium discount, where you can have a discount of `10ontheannualpremiumforeachcomplete
additional `1,000SumAssuredpurchasedoverandabovetheminimumSumAssuredof`1,00,000.
Example:Rameshaged27yearshastakenaBajajAllianzInvestAssurepolicywiththeGoldvariant,SumAssuredof500,000,policy
termof23yearsandpremiumpayingtermof13years.Hisannualpremiumofbeforehighsumassuredrebatewillbe`32,790.But,
after high sum assured rebate, it is `28,790.
Alteration Premium Paying Frequency
You will have the option to change the prevailing premium payment mode under the policy at any time, provided the prevailing
and the requested frequencies can be aligned, subject to the availability of the mode and minimum modal premium criteria. The
frequency factors are:
Premium frequency Monthly Quarterly Half yearly Yearly
Frequency Factor (freq) 0.09 0.26 0.51 1.00
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
5or10yearsfromthedateofmaturityorthedateofintimationofdeath.Thesameneedstobeinformedpriortothedateofmaturity
or in writing at the time of filing the death claim form.
Each monthly installment will be an amount equivalent to:
• For5years:1.04*maturity/deathbenefitdividedby60
• For10years:1.08*maturity/deathbenefitdividedby120
AfterapprovalfromIRDA,thesefactorsof1.04&1.08(asmentionedabove)canberevisedinthefuture,subjecttoIRDAapproval.
The policyholder or the nominee will have the option at any time to discontinue receiving the monthly installment during the
installmentperiod.Onreceivingtherequest,thepolicyholderornomineewillbeeligibleforanamountequaltothematurityordeath
Invest Assurebenefit(asapplicable)lessthetotalamountofinstallmentsalreadypaidasonthedateofrequest.
Tax Benefits
Premiumpaidareeligiblefortaxbenefitsundersection80CoftheIncomeTaxActandmaturitybenefit,deathbenefitandsurrender
benefitareeligiblefortaxbenefitsunderSection10(10)DoftheIncomeTaxAct,subjecttotheprovisionstatedtherein.
Surrender
• Youwillhavetheoptiontosurrenderyourpolicyprovided
• atleast2years’premiumhavebeenpaid,forPPTslessthan10yearsor
• atleast3years’premiumhavebeenpaid,forPPTsof10yearsandabove
• ThesurrendervalueshallbehigheroftheGuaranteedSurrenderValue(GSV)andtheSpecialSurrenderValue(SSV)
• TheGSVwillbesumofproportionofpremiumspaidlessextrapremiumspaid,ifany&servicetaxpluscessplussurrender
value of any vested bonus. The proportion of the premiums paid is as given in the table below
Policy Surrender Year 2 & 3 4 to 10 11 to 15 16 & above
Proportion of the premiums paid till date 30% 50% 55% 60%
• TheSSVfactorsarenotguaranteedandmaychangefromtimetotimesubjecttotheapprovalofIRDA
• Thepolicywillterminateonthedateofsurrender
Example:Rameshaged27yearshastakenaBajajAllianzInvestAssurepolicywiththeGoldvariant,SumAssuredof500,000,policy
termof23yearsandpremiumpayingtermof13yearsforanannualpremiumof`28,790. Attheendof5thyear,hewantsto
surrender his policy.
Then,Paid-upsumassured=192,308,VestedBonus=41,216(say),Paid-upvalue=192,308+41,216=233,524
GSV=71,975(50%oftotalpremiumspaid)+972[0.022491(GSVFactor)onVestedBonus]=`72,902
Outstandingterm=18years,Specialsurrenderfactor=0.413442,thenSSV=0.471187*233,524=`96,549
Surrendervaluepayable=`96,549
Vestedbonus(CRB)mentionedabovearenotguaranteedandwillbebasedonactualexperience.
Early Termination Value
TheEarlyTerminationValuewillbeavailableforyourpolicy,ifatleastonefullyear’spremiumshavebeenandtwelvemonthshave
beencompletedbutthreefullyears’(forpremiumpayingterm10andabove)ortwofullyears’(forpremiumpayingtermlessthan
10years)premiumshavenotbeenpaid.
Invest AssureIn case of early termination by the policyholder or non-payment of due premium during this period, the following Early Termination
Valuewillbepaid:
Number of Full Years’ Premiums paid Early Termination Value as a Percentage of the premiums paid till date
1 11%
2 15%
Where premiums taken are excluding any extra 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.
Product Terms and Conditions
What happens if you are unable to pay your premiums?
• Ifyouhavenotpaid
• First2years’premium,forPPTslessthan10years,or
• First3years’premiums,forPPTsof10years&above,
then, your policy will immediately lapse at the expiry of the grace period
• Ifyouhavepaid
• First2years’premium,forPPTslessthan10years,andsubsequentpremiumshavenotbeenpaidOR
• First3years’premiums,forPPTsof10yearsandabove,andsubsequentpremiumshavenotbeenpaid,
1. Yourpolicywillbeconvertedtoapaid-uppolicywithaReducedSumAssured
2. Thevestedbonusesasonthepaid-updateshallremainattachedtothepolicy.Apaid-uppolicywillnotaccrueany
further bonus
3. Thedeathbenefitwillbethe1.25timesor2timesoftheReducedSumAssuredfortheSilverVariantortheGold
variant respectively
• Youmayreviveyourpaid-uppolicyduringtherevivalperiodof2yearsfromtheduedateoffirstunpaidpremium,subjectto
the revival conditions under the plan
Invest AssureEligibility Condition
Parameter Details
Minimum Entry Age Silver Variant – 0 year, Gold Variant – 18 years
Maximum Entry Age 50 years
Minimum Age at Maturity 18 years
Maximum Age at Maturity Silver Variant – 70 years, Gold Variant – 65 years
Minimum Policy Term Silver Variant - 17 years, Gold Variant – 15 years
Maximum Policy Term 40 years
Premium Paying Term Premium Paying Terms (PPT) allowed are as below
Silver Variant
PT (Years) 17 to 19 20 to 24 25 to 40
PPT (Years) 7 & PolicyTerm minus 10
7, 10 & PolicyTerm minus 10
7, 10, 15 & PolicyTerm minus 10
Gold Variant
PT (Years) 15 to 19 20 to 24 25 to 40
PPT (Years) 5,7 & PolicyTerm minus 10
5,7,10 & PolicyTerm minus 10
5,7,10,15 & PolicyTerm minus 10
Example – In Gold variant for a PT of 23 years the available PPT options are 5, 7, 10 & 13 years
Please refer Annexure I for all possible premium payment terms
Maximum Premium Paying Term 30 years
Minimum Premium Mode Yearly Half-Yearly Quarterly Monthly*
Premium ` 5,000 3,000 2,000 800
Maximum Premium No Limit
Minimum Sum Assured ` 100,000
Maximum Sum Assured No Limit
Premium Payment Frequency Yearly, Half yearly, Quarterly and Monthly* *Monthly premium payment frequency will be available under salary deduc-tion scheme & ECS. It will not be available at the inception of your policy.
Revival Ifyourpolicyislapsed/paid-upduetonon-paymentofpremium,youmayrevivethepolicysubjecttothefollowingconditions:
a) Theapplicationforrevivalismadewithintwo(2)yearsfromthedateofthefirstunpaidpremium;
b) AlltheduepremiumstogetherwithinterestatsuchrateastheCompanymaydecidefromtimetotimeispaid.
c) Satisfactoryevidenceofyourgoodhealth,atyourexpense,issubmitted;
Invest Assured) Therevivalofthepolicymaybeontermsdifferentfromthoseapplicabletothepolicybeforeitlapsed/becamepaid-up,based
onprevailingBoardapprovedunderwritingnorms;
e) TherevivalwilltakeeffectonlyonitbeingspecificallycommunicatedbytheCompanytothepolicyholder;
f) TheCompanymayrefusetorevivethepolicy,basedontheBoardapprovedunderwritingguidelines.
ForeclosureIf 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 sending 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) Onpaymentofearlyterminationvalue
b) Onfullsurrenderofthepolicyonreceiptofvaliddocumentsforthesame.
c) Attheendoftherevivalperiod,ifpremiumshavenotbeenpaidduringthefirsttwopolicyyearsforPPTlessthan10yearsor
threepolicyyearsforPPT10yearsandabove.
d) Onthedateofintimationofdeathofthelifeassured.
e) Ondateofforeclosureofthepolicy,ifoutstandingloanplusinterestunderapaid-uppolicyexceedsthesurrenderbenefit.
f) Onthematuritydate.
Grace Period
Ifyouhave failed tomakepaymentof thepremiumby theduedatespecified,youwillbeallowedagraceperiodof30days for
premiumpaymentfrequenciesotherthanmonthlyand15daysformonthlyfrequencytopaytheduepremium.
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
inforceforfullSumAssuredafterdeductionoftheoutstandingpremiumsdueunderyourpolicyasonthatdate.
Definitions
1. Sum Assured: This is the amount you need to choose at inception of the policy to decide the death benefit, maturity benefit
and the surrender benefit under your policy.
2. Reduced Sum Assured:Thisisapplicablewhenyoudiscontinuethepaymentofpremiumunderyourpolicyafterpaying2
yearspremiumforPPTslessthan10or3years’premiumsforPPTsof10andaboveinfull.Thisamountisarrivedat,asondue
Invest Assuredateoffirstunpaidpremium,bymultiplyingtheprevailingSumAssuredwiththeratioofthenumberofpremiumspaidtothe
number of premiums payable under the policy.
3. Bonus: TheCompanywillcarryoutannualvaluation(asperthecurrentIRDAregulation)attheendofeachfinancialyearand
may declare following bonuses for the policies where all the due premiums have been paid.
a. Compound Reversionary Bonus: This is a regular bonus expressed as a percentage and is applied to the sum assured
and the compound reversionary bonus amount already attached to your policy. The compound reversionary bonus,
once declared, shall vest in the policy immediately, provided all due premiums till date have been paid and shall be
payable as part of the death benefit or maturity benefit at the end of the policy term
b. Interim Bonus: TheCompanymaypayinterimbonusaswellforthepolicies,whereanypremiumhasbeenpaidafter
thelastvaluationdateandthedeathbenefitorsurvivalbenefit(attheendofPPT)becomespayablebeforethenext
valuation date.
c. Terminal Bonus: Ifyourpolicyhascompleted10yearsormoreandallduepremiumshavebeenpaid,theCompany
may pay a terminal bonus as well on the termination of the policy due to death or maturity.
Free Look Period
Within 15days [thirty (30) days in case this policy is issuedunder theprovisions of IRDAGuidelines onDistanceMarketing* of
InsuranceProducts]ofthereceiptofthispolicy,youwillhavetheoptiontoreviewthetermsandconditionsofthepolicyandifyou
disagreetoanyoftheterms&conditions,youwillhaveanoptiontoreturnthepolicystatingthereasonsforyourobjections.Youshall
beentitledtoarefundcomprisingtheallpremiums(excludingapplicabletaxes)paid,lesstheproportionateamountofriskpremium
&additionalriderbenefitpremium,ifany,fortheperiodthelifeassuredwasoncoverandtheexpensesincurredbytheCompanyon
medical examination and stamp duty charges.
*DistanceMarketingincludeseveryactivityofsolicitation(includingleadgeneration)andsaleofinsuranceproductsthroughmodes
other than in person.
Exclusions
Ifthelifeassuredcommitssuicide,whethersaneorinsane,theCompany’sliabilityshallbelimitedtotheextentof
• ifthedateofdeathis1yearfromthedateofcommencementofrisk,80%ofthepremiumpaid;
• ifthedateofdeathis1yearfromthedateofthelatestrevival,80%ofthepremiumpaidorthesurrendervalueasonthedate
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.
Invest AssureNomination and Assignment
If you effect a policy on your own life, you need to nominate a person to receive the death benefit under the policy in the event of
deathofthelifeassured.ThisnominationshallbeinaccordancewithSection39oftheInsuranceAct,1938.
YouwillalsohaverighttoassignyourpolicyinaccordancewithSection38oftheInsuranceAct,1938.
Statutory Information
Prohibition of Rebate: Section 41 of the Insurance Act, 1938 states
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 provision of this section shall be punishable with a fine that may extend to five
hundred rupees.
Section 45 of the Insurance Act, 1938
NoPolicyoflifeinsuranceeffectedafterthecomingintoforceofthisActshall,aftertheexpiryoftwoyearsfromthedateonwhichit
was effected, be called in question by an insurer on the ground that a statement made in the proposal for insurance or in any report
of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the policy, was inaccurate
or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose
and that it was fraudulently made by the policy-holder and that the policy holder knew at the time of making it that the statement
was false or that it suppressed facts which it was material to disclose.
Why Bajaj Allianz Life Insurance?
BajajAllianzisajointventurebetweenBajajFinservLimitedandAllianzSE.Bothenjoyareputationofexpertise,stabilityandstrength.
ThisjointventureCompanyincorporatesglobalexpertisewithlocalexperience.Thecomprehensive,innovativesolutionscombinethe
technicalexpertiseandexperienceofAllianzSE,andin-depthmarketknowledgeandgoodwillof“Bajaj”brandinIndia.Competitive
pricingandquickhonestresponsehaveearnedtheCompanythecustomer’strustandmarketleadershipinaveryshorttime.
Invest AssureDisclaimer
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 Invest Assure
Annexure I
Policy Term (in Years) Available Premium Paying Term (In Years)
Silver Variant Gold variant
15 NA 5, 7
16 NA 5, 6, 7
17 7 5, 7
18 7,8 5, 7,8
19 7, 9 5, 7, 9
20 7, 10 5, 7, 10
21 7, 10, 11 5, 7, 10, 11
22 7, 10, 12 5, 7, 10, 12
23 7, 10, 13 5, 7, 10, 13
24 7, 10, 14 5, 7, 10, 14
25 7, 10, 15 5, 7, 10, 15
26 7, 10, 15, 16 5, 7, 10, 15, 16
27 7, 10, 15, 17 5, 7, 10, 15, 17
28 7, 10, 15, 18 5, 7, 10, 15, 18
29 7, 10, 15, 19 5, 7, 10, 15, 19
30 7, 10, 15, 20 5, 7, 10, 15, 20
31 7, 10, 15, 21 5, 7, 10, 15, 21
32 7, 10, 15, 22 5, 7, 10, 15, 22
33 7, 10, 15, 23 5, 7, 10, 15, 23
34 7, 10, 15, 24 5, 7, 10, 15, 24
35 7, 10, 15, 25 5, 7, 10, 15, 25
36 7, 10, 15, 26 5, 7, 10, 15, 26
37 7, 10, 15, 27 5, 7, 10, 15, 27
38 7, 10, 15, 28 5, 7, 10, 15, 28
39 7, 10, 15, 29 5, 7, 10, 15, 29
40 7, 10, 15, 30 5, 7, 10, 15, 30
Invest AssureContactDetailsBajajAllianzLifeInsuranceCompanyLimited,G.E.Plaza,AirportRoad,Yerawada,Pune-411006.Tel:(020)66026777.Fax:(020)66026789.www.bajajallianz.com
Foranyqueriespleasecontact:Call AnyMobile&Landline
1800 209 5858 020 30587888
Email: [email protected] Chat: bajajallianzlife.co.in/chat
ForMoreInformation:Kindlyconsultour“InsuranceConsultant”orcallustodayontheTOLLFREEnumbersmentionedabove.ThisbrochureshouldbereadinconjunctionwiththeBenefitIllustrationandPolicyExclusions.Pleaseaskforthesamealongwiththequotation.
Bajaj Allianz Invest Assure (UIN : 116N121V01)
BajajAllianzInvestAssureisaTraditionalLifeInsurancePlan.
Insurance is the subject matter of the solicitation. BJAZ-PB-0387/21-Jan-14