• Bajaj Allianz Invest Assure Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Overview

    A traditional non-linked participating endowment assurance plan which focuses on turning savings into a corpus that aids in financial security and fulfilling future needs of the family. The plan provides a life cover that ensures any exigencies are dealt with in a better manner. This plan comes with limited premium payment terms and is meant for people who wish to have a greater return on limited premium payment through a choice of two policy variants.

    Eligibility Conditions for Bajaj Allianz Invest Assure Plan

    The eligibility conditions for availing this policy depend upon the policy variant and can be depicted in the table mentioned below -

    Parameter

    Minimum

    Maximum

    Entry Age

    0 years - Silver

    18 years - Gold

    50 years

    Maturity Age

    18 years

    70 years - Silver

    65 years - Gold

    Key Features of Bajaj Allianz Invest Assure

    This plan is meant for planning a secure financial future for one’s family and has the following salient features -

    Parameters

    Details

    Plan Type

    Traditional non-linked participating endowment assurance plan

    Basis

    Individual policy

    Policy Term

    Minimum - 17 years for Silver, 15 years for Gold

    Maximum - 40 years

    Policy Validity

    Depends on the chosen policy term and payment term

    Basic Sum Assured

    The minimum sum assured amount would be INR 1,00,000 and there is no maximum cap on the same

    Discount on Sum Assured

    In case the sum assured amount is more than INR 1,00,000, a discount of Rs. 10 will be provided per 1000 of Sum Assured

    Coverage

    Maturity Benefit = Sum Assured + Vested Bonus + Terminal Bonus (if any) (if all policy premiums have been duly paid)

    Death Benefit = Higher of (7 times or 10 times annualised premium, 105% of total premiums paid or 1.25 times/ 2 times Sum Assured) + Vested Bonus + Terminal Bonus (if any) (provided 3 years’ premiums have been paid in full)

    Settlement Option - As per this option, the policyholder or the nominee can avail the Maturity Benefit or Death Benefit in installments over a period of 5 or 10 years at a monthly frequency

    Early Termination Value = 11% or 15% of total premiums paid till date for tenure less than 3 years and payable on death of the policyholder or request for termination, whichever is earlier

    Surrender Benefit = Guaranteed Surrender Value or Special Surrender Value (subject to payment of premiums of 3 years)

    Bonuses

    Compound Reversionary Bonus, Interim Bonus, Terminal Bonus

    Free look Period

    30 days in case of online purchase. 15 days otherwise

    Grace Period

    15 days for monthly payment, 30 days for all other premium payment frequencies

    Nomination and Assignment

    Nomination and assignment facility available but only one can be chosen at a time

    Reinstatement or revival

    Policy, if not surrendered, can be revived within two years from the date of last unpaid premium

    Benefits and Advantages of Invest Assure Policy

    This plan from Bajaj Allianz Life is aimed towards furthering long term savings and helps in building a corpus for a secure financial future for one’s family. Life insurance provided by this policy throughout the policy term is an added benefit. The advantages of this plan can be outlined as the following -

    1. Life cover is present throughout the policy term

    2. Two policy variants that offer better life cover multiples of 1.25 or 2 times the Sum Assured

    3. Better return on savings done through premiums

    4. Limited premium payment options help in case of financial constraints

    5. Applicable tax benefits can be availed as per Sections 80C and 10(10D) of the Income Tax Act

    The key benefits under this policy can be explained as below -

    1. Maturity Benefit - After the policy tenure is over or it reaches the maturity age, this amount can be paid to the policyholder or nominee. The maturity benefit includes Sum Assured, Vested Bonuses (Compound Reversionary Bonus and Interim Bonus) as well as Terminal Bonus (if any)

    2. Death Benefit - In case of the death of the insured life, the Sum Assured on Death will be payable to the nominee along with vested bonuses and terminal bonus (if any). The Sum Assured on Death (SAoD) is calculated as per two different options -

      1. If Entry Age is less than 45 years, the SAoD will be the higher of 1.25 times or 2 times the sum assured, 10 times annualised premium or 105% of the total premiums paid till the date of demise

      2. If Entry Age is more than or equal to 45 years, the SAoD will be the higher of 1.25 times or 2 times the sum assured, 7 times annualised premium or 105% of the total premiums paid till the date of demise

    3. Policy Loan - Once the policy has attained a surrender value, post premium payment of 2 years or 3 years), a loan of up to 90% of the surrender value can be availed

    4. Surrender Benefit - In case 2 years’ or 3 years’ premiums have been paid in full, the policy would acquire a Guaranteed Surrender Value and the same will be paid to the policyholder. If a Special Surrender Value decided by the insurer is higher than the GSV, the policyholder may be entitled to the same

    5. Tax Benefit - The contributions made towards the premiums of this policy can be tax deductible as per Sections 80C and the received benefits can fall under Section 10(10D). These benefits are dependent on the prevailing tax laws

    Bajaj Allianz Life Invest Assure Policy in Action

    Suresh, aged 27 years, decides to go for a Gold variant of Invest Assure Policy with a policy term of 23 years. Through a limited premium payment term he needs to pay a premium of INR 28,790 (less a rebate of Rs. 4000) for a period of 13 years regularly for a Sum Assured of INR 5,00,000.

    At maturity, Suresh would be entitled to receive INR 7,88,450 (Sum Assured + Vested Bonuses + Terminal Bonus), provided he has paid all premiums and not availed any loan on the policy.

    In case Suresh passes away in the 8th year of the policy, his nominee would receive a sum of INR 10,85,830 (2 times Sum Assured + Vested Bonuses) provided no loans have been availed on the policy earlier and all the premiums have been duly paid.

    It is to be noted that mentioned bonuses are dependent on external factors and the insurer’s discretion.

    Premium Payment for Bajaj Allianz Life Invest Assure Plan

    The details of premium payment for this plan can be summarised in the table below -

    Premium Parameter

    Details

    Premiums (minimum)

    Yearly

    INR 5000

    Half-yearly

    INR 3000

    Quarterly

    INR 2000

    Monthly

    INR 800

    No maximum limit for premiums

    Premium Paying Term (PPT)

    Under the Silver variant -

    1. For a Policy Term of 17-19 years, PPT = 7 years or Policy Term-10

    2. For a Policy Term of 20-24 years, PPT = 7, 10 years or Policy Term-10

    3. For a Policy Term of 25-40 years, PPT = 7, 10, 15 years or Policy Term-10

    Under the Gold variant -

    1. For a Policy Term of 15-19 years, PPT = 5, 7 years or Policy Term-10

    2. For a Policy Term of 20-24 years, PPT = 5, 7, 10 years or Policy Term-10

    3. For a Policy Term of 25-40 years, PPT = 5, 7, 10, 15 years or Policy Term-10

    In any scenario the maximum premium payment term is 30 years

    Premium Paying Frequency

    Premiums can be paid in monthly, quarterly, half-yearly and yearly frequencies

    Premium Paying Modes

    ECS, debit cards, credit cards, cheques and other acceptable modes

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

    Bajaj Allianz Invest Assure 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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