Bajaj Allianz Sarve Saral Suraksha Plan


Every organization has a prerogative to ensure its employees are happy and secured, secured not just in terms of job safety but in terms of life too. In this unpredictable world, a majority of us wonder about the future, hampering the way we life in the present, which invariably impacts our work life. Bajaj Allianz Sarve Saral Suraksha is a group term assurance plan which is designed to put these fears at rest,

Eligibility Criteria of Bajaj Allianz Sarve Saral Suraksha

Group Size

Minimum - 50 members

Entry Age

Minimum – 18 years

Maximum – 60 years

Maturity Age

Minimum – 25 years

Maximum – 70 years

Sum Assured

Age at entry – 40 years

  • 7 year PPT – 15 x annualized premium
  • 10 year PPT – 25 x annualized premium

Age at entry – 41- 60 years

  • 7 year PPT – 7 x annualized premium
  • 10 year PPT – 10 x annualized premium



  • Yearly premium – Rs 1,500
  • Half-yearly premium – Rs 1,200
  • Quarterly premium – Rs 600
  • Monthly premium – Rs 200


  • Yearly premium – Rs 12,000
  • Half-yearly premium – Rs 6,000
  • Quarterly premium – Rs 3,000
  • Monthly premium – Rs 1,000

Key Features of Bajaj Allianz Sarve Saral Suraksha


Non-linked non-participating regular premium group term assurance.


Death Benefit – In the event of unfortunate demise of life insured individual during the policy term, his/her nominee will receive the sum assured.

Maturity benefit – Individuals will be paid the total of all premiums paid on maturity.

Surrender Benefit – Members get paid a surrender value which is the higher of guaranteed surrender value or special surrender value.



Premium terms

7/10 years

Premium paying term (PPT)

This is equal to the policy term of an individual

Premium paying modes

Monthly, quarterly, half-yearly and yearly

Early termination

Early termination of policy is possible if a minimum of 1 years premium has been paid and the policy has been in force for at least 12 months, subject to 2 full years premium being unpaid for a 7 year policy and 3 full years premium being unpaid for a 10 year policy.


Lapsed policies can be renewed/revived within 2 years from date of first unpaid premium by submitting a written application for the same and paying all dues.

Grace period

Yearly, half yearly and quarterly payment – 30 days

Monthly payment – 15 days


Members can opt to surrender their membership, with the surrender value depending on the time of surrender.

The entire policy, however cannot be surrendered.


No loan facility under this plan

Free Look Period

Members get a 15 day Free Look period wherein they can decide to return the policy if they do not agree with any of the terms and conditions of this plan. This period is 30 days in case of policies purchased under distance marketing.

Advantages of Bajaj Allianz Sarve Saral Suraksha

Tax Benefits

Policyholders are entitled to tax benefits under Section 80C and Section 10 (10D) of the Income Tax Act, 1961.


Organizations/members can choose to change their premium payment mode to suit their finances.

Premium on maturity

Members get back their premiums on maturity.

How The Plan Works

Bajaj Allianz Sarve Saral Suraksha is an ideal plan for organizations which fall under the non employer – employee homogeneous group. Such groups can opt to cover their members by choosing between the available terms and paying the necessary premium. In the event of death of a member, a death benefit will be paid to his/her nominee. On maturity of policy, a member/group will get back the total of premiums paid for a particular term.

For example, Mr. Kumar working in a reputed organization is covered under Sarve Saral Suraksha plan, with his organization choosing a 7 year term and paying an annual premium of Rs 5,000. Mr. Kumar unfortunately passes away 5 years later, leaving behind his wife and kid. In this case, his wife, who is his nominee will receive a death benefit on his behalf.

Premium Payments

Premium payments for this Bajaj Allianz life plan vary depending on the premium term chosen. One can opt for terms of either 7 or 10 years, with the premium payment term equal to the chosen term. One also has flexibility in terms of mode of payment, with an option to pay the premiums monthly, quarterly, half-yearly or yearly.


There are no riders available under this plan.

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

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