- Features
- Important Details of the Plan
- Charges
- Sample Illustration*
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Bajaj Allianz Shield Insurance Plan provides you with the following:
- Single premium plan with fixed term of 10 years
- Sum Assured can be 1.1/1.25 to 5 times of the Single Premium
- Choice of eight funds including Shield Plus Fund IV
- Return of up to 6.00% of the single premium at maturity as Guaranteed Addition.
- Shield Plus Fund IV offers you guarantee of minimum unit price at maturity
- Maximum flexibility
- Option to decrease sum assured.
- Unlimited top-up premium payment, except in Shield Plus Fund IV
- Partial withdrawals anytime after five years from the commencement of the policy.
- Unlimited free switches
- Optional riders to enhance your protection
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| Parameter |
Details |
| Minimum Entry Age |
8 years (18 years in case of Additional Rider Benefits) |
| Maximum Entry Age |
65 years (50 years in case of Additional Rider Benefits) |
| Minimum Age at Maturity |
18 years |
| Maximum Age at Maturity |
75 years (Additional Rider Benefits ceasing Age 65 years) |
| Policy Term |
10 years |
| Minimum Single Premium |
Rs.25,000 |
| Maximum Single Premium |
No Limit |
| Minimum Top-Up Premium |
Rs. 5000 |
| Maximum Top-Up Premium |
No Limit |
| Minimum Sum Assured |
| Age at Entry |
Minimum Sum Assured |
| 8-44 years |
1.25 times Single Premium |
| 45-65 years |
1.1 times Single Premium |
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| Maximum Sum Assured |
| Age at Entry |
Minimum Sum Assured |
| 8-55 years |
5 times Single Premium |
| 45-65 years |
1.1 times Single Premium |
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| Charges |
Details |
| Policy Administration Charge |
1.90% of Single Premium capped to 6,000 per annum for the first 5 Policy Years and 0.85% of single premium capped to Rs.6,000 per annum from the 6th policy year. |
| Premium Allocation Charge |
Single Premium – 3%
Top up premiums – 2% |
Fund Management Charge
(FMC) |
| Fund |
Fund Management Charge per annum |
| Shield Plus Fund IV |
1.35% |
| Asset Allocation Fund |
1.25% |
| Equity Growth Fund II |
1.35% |
| Bond Fund |
0.95% |
| Liquid Fund |
0.95% |
| Accelerator Mid-Cap Fund II |
1.35% |
| Bluechip Equity Fund |
1.25% |
| Pure Stock Fund |
1.35% |
This charge will be adjusted in the unit price |
| Mortality Charge |
Mortality Charge will be deducted at each monthly anniversary by cancellation of units. Sample mortality charges per annum per thousand of Sum at risk for a healthy male life is shown below:
| Age at Entry |
20 |
30 |
40 |
50 |
| Charge |
1.57 |
1.74 |
2.82 |
6.53 |
Sum at risk = Sum assured minus Fund Value
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| Surrender Charge |
No surrender charge |
| Miscellaneous Charge |
Rs.100/- per transaction will be charged in respect of partial
withdrawals, decrease of sum assured and issuance of copy
of policy document. |
| Rider Charge |
Please refer to Additional Rider Benefit brochures
for rider charge details. |
| Service Tax |
Service tax will be applicable on mortality charge,
rider premium charge (if any) and fund \
management charge. |
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| Age |
Single
Premium |
Sum
Assured |
Fund opted for |
GMV
@ 6% |
FV at
maturity
@ 6% |
GMV
@ 10% |
FV
at maturity
@ 10% |
| 30 |
50,000 |
62,500 |
Shield Plus Fund IV |
75,542 |
78,542 |
76,949 |
99,878 |
| 40 |
100,000 |
125,00 |
Shield Plus Fund IV |
150,705 |
150,705 |
153,764 |
199, 588 |
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#GMV – Guaranteed Maturity Value; ##FV – Fund Value
*This is an indicative projection on basis of prescribed growth rate by the regulator.
** This is a Guaranteed Fund Value at Maturity |
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