What is Bajaj Allianz Endowment Policy

Bajaj Allianz Life Insurance offers insurance solutions that cater to every need and segment of customers. It has a strong product portfolio base on Endowment plans.

Endowment plan help us in our last stage of life and give us a happy ending. Look we never want to be burden on our child’s or love ones and money is a basic need of life. We all heard different kind of news and as you become old age you must want a way of money. And this time you don’t want to be burden to their child for money.

Bajaj Allianz Life Insurance Endowment Plans

1. Bajaj Allianz Save Assure:

Features and Benefits:

• Maturity benefit is payable on maturity and is equal to 115% of the Sum Assured.
• Settlement can be taken in the form of equal installments over 5, or 10 years in a monthly frequency.

2. Bajaj Allianz Invest Assure:

Features and Benefits:

• Death benefit is payable to your dependents in the unfortunate event of your death, and is the higher of:
• 7 or 10 times your annualized premium.
• 105% of total premiums paid.
• 2 times Sum Assured.
• Vested bonus + terminal bonus.
• Maturity benefit of your Sum Assured + Vested Bonus + Terminal Bonus is payable on maturity.
• Tax benefits under Section 80C and Section 10 (10D).

3. Bajaj Allianz Guarantee Assure:

Features and Benefits:

• Death benefit is payable in the unfortunate event of your death, and will be the higher of:
• 5 times the annualized premium.
• 105% of all the premiums paid.
• Sum Assured.
• Guaranteed additions.
• Maturity benefit is paid on maturity, and is equal to the Sum Assured + Guaranteed additions.
• Flexibility to choose policy term.
• Tax benefits under Section 80C and 10 (10D).

4. Bajaj Allianz Elite Assure:

Features and Benefits:

• Death benefit is payable to your dependents in the event of your death, and will be the higher of:
  Guaranteed Maturity benefit.
  Sum Assured.
  Terminal bonus.
• Maturity benefit is payable on maturity.
• Premium rebates are also available.

5. Bajaj Allianz Young Assure:

Features and Benefits:

• Death benefit is payable on your death to your dependents which is equal to the sum assured – 105% of the total premiums paid till death.
• Maturity benefit will be paid on the plan maturity, and is equal to the sum of Guaranteed Maturity Benefit, Guaranteed additions, vested bonus and interim bonus.
• Accidental Permanent Total Disability Benefit will be paid in the event of accidental permanent total disability of life insured. The policy will continue to accrue any guaranteed additions and vested bonus.

Conclusion

Under Bajaj Allianz Life Savings Plan you can opt for either a non-participating plan or a participating plan. Savings Plan is an apt option if you are looking for a good return with low risks for a long-term basis. 

Also read: Learn How Does an Endowment Plan Work?

Tax Benefits In Endowment Plans