Bajaj Allianz Life Income Assure
Bajaj Allianz Life Income Assure
A non-linked, participating, limited premium payment, monthly income endowment savings plan is the exclusive and beneficial Bajaj Allianz Life Income Assure.
Key Features
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Once the term of paying the premiums is over, you begin receiving monthly payments that are tax-free for 12 years. Benefits from taxes are subject to any changes in tax laws.
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You can choose to receive the death benefit as a lump sum under the Assure Variant or in 144 monthly installments under the Income Variant. When you purchase coverage, you must select one of the two options.
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As part of the Income option, in the tragic case of the policyholder's death, a vested bonus as well as a terminal bonus, if any, is paid immediately. In addition, the sum assured is paid to the nominee as monthly income over the next 144 equal monthly installments. The first payment is made on the death date. When all 144 monthly installments are paid, the coverage expires.
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When the policy reaches its maturity date and the life guaranteed is still alive, the vested bonus and any terminal bonus are paid.
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Select riders to broaden the scope of the plan.
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Benefit from the High Sum Assured Rebate on Annual Premium for each Complete Additional Sum Assured of Rs. 1,000 purchased above and above the Minimum Sum Assured, which varies for different payment durations.
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At any policy anniversary under this plan, the frequency of premium payments can be altered.
- If something unfortunate were to happen to you, your family would still be able to pursue their ambitions, thanks to the Bajaj Allianz Life Income Assure savings plan.
- The strategy guarantees a monthly income, which makes it simpler for you to splurge without worrying about your financial plan.
- You have the freedom to select one of the four policy terms, 17, 19, 22, or 24, depending on your status and objectives in life.