Bajaj Allianz Cash Assure Plan
Updated On Jun 08, 2021
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An insurance plan is very helpful for your earnings towards an efficient savings corpus. The Bajaj Allianz Cash Assure Plan is a traditional money back plan that is very effective in providing financial stability through regular payouts in the form of instalments. This helps sustain the financial needs over a considerable period of time. There is a choice of policy terms under this plan and there are even special rates for female policyholders.
Features of the Bajaj Allianz Cash Assure Plan
The following are some of the unique features that you can avail yourself with the Bajaj Allianz Cash Assure Plan:
1. Surrender of Plan
The Bajaj Allianz Cash Assure Plan can be surrendered by the policyholder anytime if the complete premiums for at least 2 years have been paid. A surrender value is paid out that is higher than the guaranteed surrender value and the special surrender value.
2. High Sum Assured Rebate
The Bajaj Allianz Cash Assure Plan offers a discount of 4.50 INR for every complete additional 1000 INR Sum Assured that is purchased over the minimum Sum Assured which is 1 Lakh INR.
3. Change of Premium Payment Frequency
The Bajaj Allianz Cash Assure Plan allows policyholders to change the frequency of their premium payment. However, it must satisfy the availability of the particular frequency as well as the condition for minimum modal premium. The modal premium is calculated by multiplying the annual premium with the premium payment frequency factors. This does not include the annual mode.
Benefits of the Bajaj Allianz Cash Assure Plan
Here are the various benefits that are available with the Bajaj Allianz Cash Assure Plan:
1. Survival and Maturity Benefit
The survival benefit is the money-back facility where you are paid out a certain percentage of your accumulated funds or sum assured under the insurance plan, at the end of a certain time period. The maturity benefit is paid out at the end of the policy term, that is, when the plan matures. There are four choices of policy terms available for the Bajaj Allianz Cash Assure Plan: 16 years, 24 years and 28 years. These payouts are subject to the fact that all outstanding premiums to the plan have been paid before the due date.
2. Death Benefit
The death benefit is paid out to the nominees of the policyholder in case the policyholder themselves die before the end of the policy term. This is subject to the condition that all outstanding premiums have been paid till the day of death. The death benefit comprises the sum assured at the death of the policyholder along with any vested bonus, interim bonus and terminal bonus. The benefit must be at least 105% of the total premiums that have been paid to the plan.
3. Rider Benefits
A rider is a low-cost add-on that enhances your basic insurance plan and provides more financial protection in special circumstances. A separate premium has to be paid to the rider which then pays out the rider benefit in case the conditions of it are satisfied. The Bajaj Allianz Cash Assure Plan has multiple riders under it that you can choose from:
- Bajaj Allianz Accidental Death Benefit Rider
- Bajaj Allianz Accidental Permanent Total/ Partial Disability Benefit Rider
- Bajaj Allianz Critical Illness Benefit Rider
- Bajaj Allianz Family Income Benefit Rider
- Bajaj Allianz Waiver of Premium Benefit Rider
The Bajaj Allianz Cash Assure Plan is a comprehensive insurance plan that provides all that you would need. It helps you make the most of your savings to help gain financial stability in the future.