Complete Guide to Bajaj Allianz Life ACE
Overview
Your family's security and its future well-being is one of the most treasured dreams in your life. But when Security is backed up by a guarantee, your dream can transform into an achievable GOAL.
Presenting Bajaj Allianz Life Goal Suraksha, an easy to buy, non-linked non-participating limited premium payment plan that secures you and your family with a life cover and a guaranteed* sum at maturity.
Key Advantages
Guaranteed* Maturity Benefit
*Conditions Apply – The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors. For more details please refer to sales brochure.
Offers Guaranteed* Additions at maturity
*Conditions Apply – The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors. For more details please refer to sales brochure.
How this works
- Choose your Premium amount.
- Choose your Sum Assured.
- Choose your Policy Term (PT).
- Choose your Premium Payment Term (PPT) from available options.
Book of the Day
Eligibility
- Entry Age
Minimum age is 0 year
On attaining the age of majority, i.e., 18 years, the Policy will vest on Life Assured
Maximum age is 55 years
- Maturity Age
Minimum age of maturity 18 years
Maximum age of maturity 65 years
- Premium Payment Term (PPT), Income Period (IP), Deferment Period (DP) and Policy Term (PT)
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Policy Term: 10 years
Premium Paying Term: 7 years
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Policy Term: 12 years
Premium Paying Term: 6, 7, 8 years
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Policy Term: 15 years
Premium Paying Term: 5, 6, 7, 8, 10 & 12 years
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Policy Term: 20 years
Premium Paying Term: 5, 6, 7, 8, 10 & 12 years
Policy Term Premium Paying Term | Bajaj Allianz Life | Life Insurance Made Easy
Bajaj Allianz Life Insurance
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- Premium Paying Frequency
Yearly, Half-yearly, Quarterly and Monthly
The quarterly and monthly mode will be allowed only under auto-debit process (as per the approved RBI facilities).
- Premium
Minimum: Annual Premium ₹25,000 p.a.
Maximum: As per : No limit (subject to Board approved underwriting policy)
- Sum Assured
Minimum & Maximum Sum Assured on death 11 times of Annualised premium
Benefit Sum Assured (BSA) is derived basis Age, Product option, GPB, DP, PT, PPT, Income period and premium chosen by the Policyholder
Benefits will vary depending upon options chosen.
Survival Benefit | Bajaj Allianz Life | Life Insurance Made Easy
Bajaj Allianz Life Insurance
- All ages mentioned above are age as on last birthday.
- Risk cover (including for minor lives) will commence immediately on the date of commencement of risk in the policy. In the case of a minor life, the policy will vest on the life assured on the earlier of attainment of age 18 years age or maturity date.
- For female lives, 2% markup will be available on Benefit Sum Assured.
- Income Period will commence after the end of Deferment Period.
- The product is available for sale through online mode
Downloads
- Brochure: Clck here to view
- Policy Document: Click here to view
- Customer Information Sheet: Click here to view
Policy Benefit
- Maturity Benefit
Deferred Income
On maturity of the Policy, you will receive:
- Sum Assured on Maturity, i.e. 105% of Total premiums paid plus
- Accumulated Income benefits, if any plus
- Terminal bonus (if declared)
Early Income
On maturity of the Policy, you will receive:
- Sum Assured on Maturity, i.e. 105% of Total premiums paid plus
- Accumulated Income benefits, if any earlier, plus
- Terminal bonus (if declared)
Increasing Income
On maturity of the Policy, you will receive:
- Sum Assured on Maturity, i.e. 105% of Total premiums paid plus
- Accumulated Income benefits, if any, plus
- Terminal bonus (if declared)
Wealth
On maturity, you will receive a lumpsum amount equal to:
- Maturity Sum Assured, i.e. Maturity Sum Assured Rate x Annualised Premium, plus
- Accrued Simple Reversionary Bonus (if declared), plus
- Terminal bonus (if declared)
Maturity benefit | Bajaj Allianz Life | Life Insurance Made Easy
Bajaj Allianz Life Insurance
- Death Benefit
Deferred Income
In case of death of the Life Assured during the policy term, the death benefit will be paid as lump-sum:
- Sum Assured on Death plus
- 105% of Accumulated Income benefits, if any plus
- Terminal Bonus (if declared)
Early Income
In case of death of the Life Assured during the policy term, the death benefit will be paid as lump-sum:
- Sum Assured on Death plus
- 105% of Accumulated Income benefits, if any earlier plus
- Terminal Bonus (if declared)
Increasing Income
In case of death of the Life Assured during the policy term, the death benefit will be paid as lump-sum:
- Sum Assured on Death, plus
- 105% of Accumulated Income benefits, if any plus
- Terminal Bonus (if declared)
Wealth
In case of the death of Life Assured during the policy term, the death benefit will be paid as lump-sum:
- Sum Assured on Death, plus
- Accrued simple reversionary bonus (if declared), plus
- Terminal Bonus (if declared)
Death Benefit | Bajaj Allianz Life | Life Insurance Made Easy
Bajaj Allianz Life Insurance
Example
Here’s how this plan can work (example):
- Proposer Details:
- Age: 35 years
- Annual Premium: Rs. 2,00,000
- Premium Payment Term: 12 years
- Deferment Period: 0 years
- Key Benefits:
- Income Benefit:
Receive a regular income of *Rs. 79,211 per annum* from the 1st to the 50th policy year (Rs. 79,211 x 50).
This income comprises *40% Guaranteed Income* and *60% Cash Bonus* (based on an 8% illustration).
Total Income Benefit: *Rs. 39.6 Lakhs* over 50 years.
- Maturity Benefit:
At age 85, enjoy a lump-sum Maturity Benefit of *Rs. 53 Lakhs*.
This includes Maturity Sum Assured + Accrued Simple Reversionary Bonus + Terminal Bonus.
- Death Benefit:
Secure a risk cover of *Rs. 22 Lakhs* throughout the policy term.
In the unfortunate event of the policyholder’s demise, the nominee will continue to receive the annual income of *Rs. 79,211* and the maturity benefit of *Rs. 53 Lakhs*, with all future premiums waived.
- Total Benefit:
A remarkable *Rs. 92.73 Lakhs* combining income and maturity benefits, ensuring long-term financial stability for you and your loved ones.
- Income Benefit:
This plan is an excellent opportunity to build wealth, enjoy a steady income stream, and safeguard your family’s future—all in one comprehensive package.