• Bajaj Allianz Group Superannuation Secure Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Overview

    The Bajaj Allianz Group Superannuation Secure plan is particularly designed for employers to help their employees manage pension funds. This is a non-linked and non-participating group life insurance plan by using which you can make build adequate retirement funds for your employees. You can ensure regular and secure income flow to your employees after their retirement with the help of this plan. The Bajaj Allianz Group Superannuation Secure plan is a variable fund based group superannuation plan, offering you guaranteed interest rate.

    Eligibility Conditions for Bajaj Allianz Group Superannuation Secure Plan

    The eligibility conditions for Bajaj Allianz Group Superannuation Secure plan include:

    Minimum entry age

    18 Years.

    Maximum entry age

    75 years.

    Maximum maturity age

    80 years.

    Minimum size of the group

    10 members.



    Key Features of Bajaj Allianz Group Superannuation Secure Plan

    Bajaj Allianz Group Superannuation Secure Plan Superannuation Secure Plan comes with a lot attractive features which include:

    Plan type

    It is a non – linked and non-participating variable fund based life insurance plan.

    Plan basis

    Group plan.

    Sum assured

    Minimum sum assured: Rs. 1, 00, 000.

    Maximum sum assured: Rs. 1 Crore.

    Policy term

    Annually renewable.

    Policy administration fees

    0.5% of the total contribution or Rs. 1, 00,000 or whichever is lower.

    Premium payment frequency

    Monthly, half-yearly, quarterly and annually.

    Free look period

    • 15 days for manually purchased policies.

    • 30 days for policies purchased via distance marketing. l

    Nomination

    Nomination is accepted under this plan.

    Loans

    Loan against policy is not allowed.

    Policy coverage

    Death benefits, maturity benefits and survival benefits.

    Policy account size

    Minimum: Rs. 1, 00,000.

    Maximum: There is no limit.



    Benefits/Advantages of Bajaj Allianz Group Superannuation Secure Plan

    The Bajaj Allianz Group Superannuation Secure Plan enables you to enjoy the following benefits:

    • Death benefits: The Bajaj Allianz Group Superannuation Secure Plan offers death benefits to designated nominees, in case any member of a group dies within the policy tenure. The policy pays death instant death benefits once a policy member dies. For Pooled Level policies, the nominee will receive the amount chosen by a member you as per the policy rules. For Individual Level policies, the nominee will receive 101% of a member’s contribution or the individual account value, whichever is higher.

    • Surrender benefits: The policyholder/member can surrender the Bajaj Allianz Group Superannuation Secure policy at any time by giving a notice of 3 months. On receiving the request for surrendering, the policy will pay higher of the Guaranteed Surrender Value as surrender benefits. However, the surrender benefits payable under this policy will be lower of 0.05% of the total policy account value.

    • Tax benefits: A policyholder may receive tax benefits for purchasing this policy under section 80C of the Indian income tax Act, 1961. Tax benefits are subject to change based on changes in the tax laws of India.

    • The Bajaj Allianz Group Superannuation Secure Plan offers vesting benefits after retirement. If it is a Pooled Level policy, the nominee will receive the amount chosen by you ( policy member) as per the policy terms. If it is an Individual Level policy, the nominee will receive 101% of member’s contribution or the individual account value, whichever is higher.

    • The Bajaj Allianz Group Superannuation Secure Plan also offers benefits on withdrawals. For a Pooled Level policy, it offers the amount selected by you based on policy terms. The policy will pay the individual account value as withdrawal benefit, if it is an Individual Level policy.

    How Bajaj Allianz Group Superannuation Secure Plan Work

    The Bajaj Allianz Group Superannuation Secure Plan comes with two options:

    • Option 1 - Pooled – level

    • Option 2 - Member -level.

    Based on the choice of your option, your contribution towards the policy can be credited either to the Pooled Account or to the Individual Account, once the policyholder pays the policy administration fees. You will receive a yearly amount of 3% as Guaranteed Investment Returns (GIR) during the entire policy tenure. At the beginning of each financial quarter, Bajaj Allianz Life Insurance Company charges some additional amount as Additional interest Rate on this plan.

    Premium Payment

    The Bajaj Allianz Group Superannuation Secure charges an amount of 0.5% of the total contribution or Rs. 1, 00,000, whichever is lower as premium allocation fees.

    Riders

    There is no rider available under the Bajaj Allianz Group Superannuation Secure Plan.

    If you want to protect your employee’s future and provide them with enhanced safety after retirement, the Bajaj Allianz Group Superannuation Secure plan is must for you. The Bajaj Allianz Group Superannuation Secure plan can really help your employees enjoy an economically stable and safe post-retirement life.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    Bajaj Allianz Group Superannuation Secure Plan Reviews

  • Page 1 of 17 1 2 3 4 5
    • Bajaj Allianz Life Life Insurance
      "Best product offerings"
      0.5 4.0/5 "Great!"
      I have three policies from Bajaj Allianz life. The premium gets auto debited from the account(Check details here : https://www.bajajallianzlife.com). I don't have to worry about the due date and this makes life so much easier. The agents are very friendly and in case of any discomfort, they have always helped me understand and sort things out. I recommend Bajaj Allianz to everyone over any other company in the market
      Was this review helpful? 0
      , pune
      Reviewed on Jun 19, 2018
    • Bajaj Allianz Life Life Insurance
      "Excellent Policy"
      0.5 5.0/5 "Blown Away!"
      Got a Bajaj Allianz Life insurance policy around 4 years ago. The policy tenure 18 years with a premium amount of Rs. 12,000 in a year. The customer support is very responsive, and I loved their support every time. The plan benefit is excellent and most of the services can be availed online(https://www.bajajallianzlife.com).
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 18, 2018
    • Bajaj Allianz Life Life Insurance
      "Satisfied"
      0.5 3.5/5 "Pretty good"
      I have a Bajaj Allianz life insurance from more than 10 years and it is a long term policy. There are not much branches of Bajaj. I am happy with the coverage and returns of this insurance policy. I pay my premium once in a year and i am convenient with the payment options. I have taken this policy mainly for tax savings.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 23, 2018
    • Bajaj Allianz Life Life Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      The main issue with the Life Insurance policy from Bajaj is that I've been receiving n number of fake calls. I never had any issues pertaining to this policy. I pay the premium either via check or online. Overall Their service is not as good as I expected.
      Was this review helpful? 0
      , pune
      Reviewed on May 11, 2018
    • Bajaj Allianz Life Life Insurance
      "GOOD POLICY"
      0.5 5.0/5 "Blown Away!"
      I took this policy mainly because of the good returns, its long tenure process , the payment can be done through easy monthly ecs . The best about the policy is claim rate is high compared to other policy available in the market. There customer service and customer response is good .
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 30, 2018
    • Bajaj Allianz Life Life Insurance
      "Life insurance with BAJAJ"
      0.5 4.0/5 "Great!"
      I have taken a life insurance from BAJAJ ALLIANZ and the policy premium is 30000 annually. This is an investment come insurance policy so i will get some interest from mutual funds. We have to pay the premium for 5 years. The customer service and response with the card is fine.
      Was this review helpful? 0
      , thane
      Reviewed on Apr 27, 2018
    • Bajaj Allianz Life Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I have four policy's with Bajaj Allianz Life Insurance service. Tenure period is good with Bajaj Allianz Life Insurance service. The payments options are through online. It was an good experience with Bajaj Allianz Life Insurance service.
      Was this review helpful? 0
      , thane
      Reviewed on Apr 25, 2018
    • Bajaj Allianz Life Life Insurance
      "Worst company to buy insurance from"
      0.5 1.0/5 "Really Bad"
      I had bought Super Saver policy which is Super Loser policy. Instead of giving returns, it actually eats up all your money. Agents mislead you that the policy can be withdrawn at early stage of 3 or 5 years. But actual term is 15 years or so. Absolutely rubbish plan. Customer support is pathetic an unhelpful. No knowledge about the product as well.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 31, 2018
    • Bajaj Allianz Life Life Insurance
      "Average Policy"
      0.5 3.0/5 "Satisfactory"
      I hold a my life insurance with Bajaj Allianz from last 15 years and it is a long term policy. The tenure of this policy is 10 years. I have to pay a premium for 4-5 years and for remaining years the company will pay. It is an average policy, i am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 29, 2018
    • Bajaj Allianz Life Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance policy with LIC from last 7-8 years and it is a term insurance. The tenure of this life insurance policy is 20 years. I pay my premium on monthly basis through ECS and i am convenient with the payment options which they are giving. I am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 27, 2018
    • Bajaj Allianz Life Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I got the Life insurance policy from the BAJAJ ALLIANZ LIFE INSURANCE Company. I have got this policy around a year ago. The customer support service is good with the BAJAJ ALLIANZ LIFE INSURANCE company. This policy has the tenure of life time and I have paid Rs,12,000 to this policy .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 14, 2018
    • Bajaj Allianz Life Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I got the Life insurance policy from the BAJAJ ALLIANZ LIFE INSURANCE Company. I have got this policy around a year ago. The customer support service is good with the BAJAJ ALLIANZ LIFE INSURANCE company. This policy has the tenure of life time and I have paid Rs,12,000 to this policy .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 14, 2018
    • Bajaj Allianz Life Life Insurance
      "better experience"
      0.5 4.0/5 "Great!"
      I had applied and got a life insurance policy from the famous private sector insurance company BAJAJ ALLIANZ LIFE INSURANCE. Most of all benefits are covered under one policy. I feel that there are no benefits to renew my health policy so I withdrawn my health policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 03, 2018
    • Bajaj Allianz Life Life Insurance
      "Better "
      0.5 3.0/5 "Satisfactory"
      I have taken the life insurance policy with the Bajaj allianz life insurance company. The premium amount is nominal one for me and the coverage value is reasonable one for me with them. Every aspects are better one with the Bajaj allianz life insurance company.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 03, 2018
    • Bajaj Allianz Life Life Insurance
      "Very Good Investment"
      0.5 4.0/5 "Great!"
      This is absolutely a delight to have this Insurance. I took it last November. Their return is around 9.5%. I have been paying Rs.50000 as an annual premium for it. I just need to pay for 6 years and after that it has a 6 years locking period after which I can take out a good return out of it.
      Was this review helpful? 0
      , lucknow
      Reviewed on Mar 02, 2018
    • Bajaj Allianz Life Life Insurance
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      Bajaj Life insurance service is good. I have taken one policy with Bajaj for the period of 15 years. The payments are generally through online and the new schemes and offers they provide is good,it is totally a good experience with Bajaj Life insurance service.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Mar 02, 2018
    • Bajaj Allianz Life Life Insurance
      "Good policy to use"
      0.5 3.5/5 "Pretty good"
      I have a life insurance policy with Bajaj Allianz from last 5 years and it is a short term policy. This policy has a tenure period of 2 years and my premium amount gets auto deducted from the salary account. I am convenient with the payment options which they are giving. I am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 27, 2018
    • Bajaj Allianz Life Life Insurance
      "Okay"
      0.5 2.5/5 "Just OK"
      I am having the life insurance policy with the Bajaj allianz life insurance company. I would like to say that the customer service is good one and the coverage value too. Every aspects are not yet experienced with the Bajaj allianz life insurance company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 26, 2018
    • Bajaj Allianz Life Life Insurance
      "Good policy"
      0.5 4.5/5 "Excellent!"
      Recently I took a life insurance with Bajaj Allianz. It was taken through an agent. The representative was very kind and helpful. It is good and secured policy. I paid 25K yearly for this insurance. I made the payment through cheque. The total tenure period is 7 years.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 08, 2018
    • Bajaj Allianz Life Life Insurance
      "Good Products"
      0.5 5.0/5 "Blown Away!"
      Bajaj Finserv issued insurance for the loan products, its a life insurance cum accidental cover from Bajaj Allianz company. They have taken one time premium around Rs. 3100 for the tenure of six years. They are providing critical illness, accidental care as well. I got the policy copy on time, I am satisfied about it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 06, 2018
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