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Bajaj Allianz Income Assure
Bajaj Allianz Income Assure
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Non-linked, participating, limited premium payment, endowment plan
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Guaranteed monthly income for 144 months
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Lumpsum maturity benefit paid after 144 months of monthly payout
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Two options of “Income” and “Assure” – death benefit as monthly income or lumpsum
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Flexibility of limited premium paying term
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Tax benefit as per prevailing tax laws
- As per underwriting norms, rates are defined which are individual customer specific. Insurance is underwritten by Bajaj Allianz Life Insurance Co. Ltd. All Rights Reserved. | IRDAI Reg. No. 116.
Commission Disclosure
Details of commission, which Bandhan Bank as a Corporate Agent is eligible to earn from sale of Insurance , are as follows:
Table I – Single Premium
Sl No | Category of Life Insurance Product or Policy | Maximum Commission on Single Premium |
A | All individual life products except pure risk products | 2% |
B | Individual Pure Risk products | 7.5% |
C | Individual Immediate/ Deferred Annuity | 2% |
D | One year renewable group pure risk insurance | 5% of premium paid during the year or Rs 10 lakhs whichever is less |
E | Group Pure Risk (incl Group credit) | 5% |
F | Group Savings Variable Life Insurance | 2% |
G | Group Fund based | 0.5% of premium paid during the year or Rs 10 lakhs whichever is less |
Table II – Regular Premium
Sl No | Category of Life Insurance Product or Policy | Maximum Commission on Regular Premium | |
First year Premiums | Renewal Premiums | ||
A | Individual Pure Risk | 40% | 10% |
B | Individual Other than Pure Risk | ||
i) | In respect of policies with premium payment terms of | ||
5 years | 15% | 7.5% | |
6 years | 18% | 7.5% | |
7 years | 21% | 7.5% | |
8 years | 24% | 7.5% | |
9 years | 27% | 7.5% | |
10 years | 30% | 7.5% | |
11 years | 33% | 7.5% | |
12 years and more | 35% | 7.5% | |
C | Individual Deferred Annuity / Pension | 7.5% | 2% |
D | Group Pure Risk (incl Group credit) and Group Savings Variable Life | 7.5% (only on pure risk premium) | 7.5% |
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Entry age
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Minimum – 0 year
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Maximum age is 50 years
Risk cover will commence immediately on date of commencement of risk of the policy and, in the case of a minor life, policy will vest on the life assured on the earlier of attainment of majority, (i.e., 18 years age last birthday) or on maturity date
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Maturity age
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Minimum - 18 years
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Maximum - 74 years
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Policy term
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17, 19, 22, 24 years
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Premium paying term
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5, 7, 10, 12 years
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Premium amount
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Minimum
Variants Premium (in ₹) Income 21,965 per annum/1,977 monthly Assure 22,058 per annum / 1,985 monthly Premium for female life will be based on the premium rate of 3 years younger male -
Maximum - As per maximum sum assured
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Premium payment frequency – yearly and monthly. Monthly premium frequency is only allowed under auto-debit process
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Guaranteed Monthly Income (GMI)
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Minimum as below
Age | Multiplier |
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5 years | 1100 |
7 years | 1400 |
10 years | 1800 |
10 years | 2100 |
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Maximum – no limit, subject to prevailing board approved underwriting guidelines
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Sum assured
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Minimum – 144* Minimum GMI chosen
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Maximum – no limit, subject to prevailing Board approved underwriting guidelines
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Identify proof
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Age proof
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Address proof
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Recent photograph

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