- Overview
- Features
- Benefits
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Your long term financial plans in life should not stop you from enjoying small pleasures today. Here, is a plan that helps you enjoy those small pleasures by giving you an opportunity to save and grow your money while giving you a periodic income. Presenting ‘Bajaj Allianz Super CashGain Insurance Plan’ an insurance plan that secures your life and gives you guaranteed cash-backs.
The plan offers you key benefits:-
- Option to select up-to four times of your base sum assured as life cover.
- Option to select your policy term of 12, 16, 20 or 24 years.
- Benefit from shorter premium payment term as no premiums are payable in the last five policy years.
- Get 20% of the base sum assured as cash-back at regular intervals, which you may take as a cash or ask us to adjust against your due or future premium.
- Flexibility to pay your future premiums in advance and avail discounts.
With Super CashGain Insurance Plan, you have Option to:
- Keep your policy in-force for full sum assured in case you miss to pay your premiums on due dates, provided you have paid at least 3 year's premiums in full.
- Covert your policy to a "single premium term cover with return of premium (ROP)" policy, if you miss to pay your premiums on due dates provided you have paid at least 5 years' premiums in full.
- Get more value for money with high sum assured rebate on premium
- Optional riders to enhance your protection.
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Plan Variants
You need to choose your sum assured (life cover) as a multiple of the base sum
assured, from the following four (4) plan variants:
a) Silver – with sum assured equal to the base sum assured
b) Gold – with sum assured equal to twice the base sum assured
c) Diamond – with sum assured equal to thrice the base sum assured
d) Platinum – with sum assured equal to quadruple the base sum assured
The surrender value, survival benefit and the maturity benefit will be determined on
the basis of only the base sum assured under your policy.
Plan Parameters
| Parameter |
Details |
| Minimum Entry Age |
0 years (18 years for additional riders ) |
| Maximum Entry Age |
65 years (50 years for additional riders ) |
| Minimum Age at Maturity |
18 Years |
| Maximum Age at Maturity |
80 years (70 years, for plan variants other than Silver &
65 years, for additional riders) |
| Policy Term |
12, 16, 20 and 24 years |
| Premium Paying Term(PPT) |
Policy term less 5 years |
| Minimum Premium |
Rs.6,500 per Yearly Installment
Rs.3,250 per Half-yearly Installment
Rs.1,750 per Quarterly Installment
Rs.600 per Monthly installment |
| Maximum Premium |
No Limit |
| Minimum Base Sum Assured |
Rs.50,000 |
| Maximum Base Sum Assured |
No Limit |
| Premium Payment Frequency |
Yearly, Half yearly, Quarterly, and Monthly.
The monthly mode will be allowed for direct debit
& through ECS only, and 3 installments need to be
paid at the inception of the policy. |
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Death Benefit:
- In case of unfortunate demise of the life assured during the policy term,
the Company shall pay the sum assured plus applicable bonus to the
nominee, provided all due premiums have been paid.
- The sum assured shall depend upon the plan variant chosen by you, which
will be multiple of the base sum assured as per the table below:
| Plan Variants |
Silver |
Gold |
Diamond |
Platinum |
Sum Assured is
equal to |
Base Sum
Assured |
Double the Base
Sum Assured |
Triple the Base
Sum Assured |
Quadruple the Base
Sum Assured |
- If the policy is in auto cover, the above death benefit shall be reduced by all
the due-but-unpaid premiums along with applicable interest.
- In case of unfortunate demise of the life assured while the policy is
paid up, the Company will pay the reduced sum assured plus the vested
bonus to the nominee.
- In case of unfortunate demise of the life assured after the policy has
been converted to a single premium term cover with return of
premium (ROP), the Company will pay the revised sum assured, i.e., the
sum assured ascertained at the time of such conversion of the policy.
- No death benefit shall be payable in case your policy is lapsed.
Maturity Benefit:
- You will receive 40% of your base sum assured plus applicable bonus as
maturity benefit on maturity date, provided all due premiums have been
paid.
- However, if your policy is paid up, then the maturity benefit shall be the
reduced base sum assured plus the vested bonus.
- In case your policy is converted to a single premium term cover with
return of premium (ROP), the maturity benefit shall be the single
premium, as determined as on the date of such conversion.
Tax Benefits:
- Premiums paid are eligible for tax benefits as per Section 80C of the Income
Tax Act
- Death benefit, maturity benefit and the surrender value are eligible for tax
benefits as per Section 10(10D) of the Income Tax Act.
- Premiums paid in respect of the Comprehensive accidental protection,
hospital cash benefit and critical illness benefit will be eligible for tax
benefits as per Section 80D of the Income Tax Act.
Please check with your Tax Consultant regarding the tax implication on Advance
premium payment.
In case of changes in to any relevant tax laws, the same will be applied from time
to time.
Plan.
High Sum Assured Rebate
We offer an attractive premium discount to you for choosing a higher base sum
assured. Your premium shall be reduced by Rs. 84 for every additional Rs. 10,000
base sum assured purchased over and above the base sum assured of Rs. 100,000
under the plan.
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