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Bajaj Allianz Invest Assure plan is a comprehensive insurance plan. Bajaj Allianz Invest Assure plan is a beneficial insurance plan with various features and benefits.

Policy Highlights

  • Traditional participating endowment assurance plan 
  • Premiums paid for a specified term but life coverage is given till the end of the policy term
  • Bonus earned through by participation in the profits of the insurer
  • Two variants of the plan – Gold and Silver available
  • Benefits can be received as a monthly instalment instead of lumpsum

Features

  • Only resident Indians are eligible for the plan as below 

Minimum

Maximum

Entry age from last birthday (years)

  • Gold – 18 years
  • Silver – 0 years

50 years

Maturity age from last birthday (years)

18 years

  • Gold – 65 years
  • Silver – 70 years

Policy tenure (years)

  • Gold – 15 
  • Silver – 17 

40 

Premium payable 

Yearly – Rs.5000
Half-yearly – Rs.3000
Quarterly – Rs.2000
Monthly – Rs.800

No upper limit

Premium paying term (years)

5

30 

Sum assured

Rs.1 lakh

No upper limit

Premium payment method

Monthly, quarterly, half-yearly and annually

Monthly, quarterly, half-yearly and annuall

Key Benefits

  • On the death of the insured, the sum assured on maturity plus accumulated bonus paid to the nominee
  • The death benefit is payable as below

Age

Sum assured on death will be higher of the three options 

Less than 45 years

10 times of annual premium

105% of the premiums paid to date

1.25 or 2 times of sum assured depending on the premium tenure

45 years or more

7 times of annual premium

105% of the premiums paid to date

1.25 or 2 times of sum assured depending on the premium tenure

  • Surrender benefit is available if 2 to 3 years of premium has been paid fully, then guarantee surrender value available and paid to insured.
  • Discounted premiums are available for higher sum assured in the plan.
  • Tax benefit can be availed u/s 80C for premium and for maturity benefits u/s 10(10D) of the Income-Tax Act 1961.
  • Loans are available if the plan has a surrender value option along with a post premium payment of 2-3 years, with a maximum loan available up to 90% of the plan surrender value.
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