A Non linked, Non Participating, Individual, Life Insurance Savings Plan.

Key Features:  

• Guaranteed¹ Income for your loved ones, even in your absence

• Decide your income start year

• Get back all your premiums paid³ at the end of the Income Period

• Life Cover during the policy term

Maturity Benefit: The Maturity Benefit shall be payable, as per the details given below over the chosen Income Period:

• Income Instalments shall be payable in arrears during the Income Period, as per chosen Income Instalment frequency.

Income Instalment = Base Income Plus Accrued Income Boosters.

• Total Premiums⁵ Paid under the Policy will be returned as the Return of Premium³ (ROP) along with the last Income Instalment.

Base Income is equal to the Base Income% multiplied by the Total Premiums⁵ Paid.

¹Conditions Apply -The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors. For more details, please refer to sales brochure.

Income Booster (IB) will accrue at the end of each policy year starting from the end of 2^nd policy year till the end of the Deferment Period, provided the Policy is in-force and all premiums have been paid. The IB is available in the policy provided at least two full policy years’ premiums are paid. The Income Booster(s) accrued till the end of the Deferment Period are paid to the Policyholder as a part of every Income Instalment. The Income Booster applicable at the end of each policy year is calculated as a percentage of Total Premiums⁵ Paid till date.

The Base Income and Income Booster factor varies basis age band, Premium Payment Term, Deferment Period, Income Period and Sum Assured Multiple chosen by the Policyholder at inception of the Policy. The Base Income and Income Booster factors are available on the Bajaj Allianz Life Insurance company website.

Once the Income Instalments have commenced, the Income Instalments and the ROP³ (at the end of the Income Period) will be paid irrespective of the life assured being alive or not. The Income Instalments will continue to be paid to the nominee even if death of the life assured occurs post completion of policy term (i.e. during the Income Period).

Death Benefit: The Death Benefit (i.e. Sum Assured on Death) shall be payable, as per the details given below over the chosen Income Period (in instalments):

• Death Benefit Instalments (as a percentage of Annualized Premium⁴) shall be payable annually during the Death Benefit Instalment Period (i.e. the chosen Income Period). The first Death Benefit Instalment will be due on the date of death of the life assured.

• The Return of Premium³ (ROP) on Death i.e. Total Premiums⁵ payable will be paid along with the last Death Benefit Instalment.

At the time of intimation of death, the nominee has the option to take the Death Benefit Instalments and ROP³ on Death as a lump sum using a discount rate of 8.25% p.a. At no time the total Death Benefit will be less than Guaranteed¹ Death Benefit of 105% of the Total Premiums⁵ Paid up to the date of death or the Surrender Value available then, whichever is higher. If there is any shortfall in the total of all Death Benefit Instalments & ROP³ on Death from the Guaranteed¹ Death Benefit or Surrender Value, the same will be paid along with the ROP³ on Death.

The Death Benefit Instalment factors are available on the company Bajaj Allianz Life Insurance website.

³The Return of Premium is the total premiums paid means total of all the premiums paid under the policy, excluding any extra premium and taxes, if collected explicitly

⁴Annualized Premium shall be the premium amount payable in a year excluding taxes, rider premiums, underwriting extra premiums and loadings for modal premiums

⁵Total Premiums Paid means total of all the premiums paid under the policy, excluding any extra premium and taxes, if collected explicitly.