Bajaj Allianz Cash Assure Plan

‘Bajaj Allianz Cash Assure Plan,’ is a traditional, money back policy, which is offering money protection and savings at the same time. There is a lump sum payout in fixed intervals to meet your short-term financial needs. Additionally, you can avail rider benefits by paying a nominal amount.

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How Does the Plan Work?

The plan can be customized as per your needs - You can personalize the policy as per your requirements in the following ways:

  • Select the Sum Assured

  • Select the Policy Term

  • Select the Premium Payment Frequency

The premium is calculated on the basis of sum assured, age of the policy holder, gender and policy term. Although, your money back interval and benefits vary with your policy term.

Advantages of Bajaj Allianz Cash Assure Plan

  • You get money back in fixed intervals.

  • Up to 150% of money back assurance. Though it varies as per the policy term that you have taken.

  • You can choose from four policy terms - 16, 20, 24 and 28 years.

  • You can take advantage of the smaller premium payment term.

  • Female policyholders can enjoy some special plans.

Benefits of Bajaj Allianz Cash Assure Plan

  • Death Benefits - In case of the sudden demise or death of the insured person during the policy term, the compensations provided to the nominee are mentioned below –

    • Total sum assured in the policy

    • plus, Interim Bonus, if earned

    • with Terminal Bonus, if earned

These amounts are subject to a minimum of 105 percent of the total premium, which is paid as the death benefit. The policy shall be terminated, thereafter.

  • Survival and Maturity Benefits - You need to pay all your premiums timely, to avail money backs on every due date as part of the Survival Benefit. On the date of maturity, you will get all the maturity benefits on timely payment of premiums.

People Also Read: Bajaj Allianz Life Dynamic Asset Allocation Fund

Check out the table below for Money Back Payouts at the end of the policy term

Money Back Policy Term
16 years 20 years 24 years 28 years
1st 4th 5th 6th 7th
2nd 8th 10th 12th 14th
3rd 12th 15th 18th 21st

Check out the table for Survival Benefit and Maturity Benefits

Policy Term 16 years 20 years 24 years. 28 years
Money Back 15 percent of the Sum Assured 20 percent of the Sum Assured 25 percent of the Sum Assured 30 percent of the Sum Assured
Maturity Benefits 60 percent of Sum Assured* Plus Vested Bonus (if any)* Plus Terminal Bonus (if any)

Tax Saving Benefits - Under Section 80C of the income tax act, the premium paid under this policy will be deducted from your taxable income.

Checkout the table below for Eligibility Conditions

Parameters Minimum Maximum
Entry Age 0 days 54 Years
Maturity Age 18 Years 70 Years
Sum Assured 1 lakh Rupees Subject to underwriting
Policy Term 16, 20, 24 & 28 years
Premium Paying Term(Policy Term minus 5 Years) 16 - 5 = 11 Years
20 - 5 =15 Years
24 - 5 =19 Years
28 - 5 = 23 Years
Premium Payment Frequency 1 Year, 6 months, 3 months and 30 days

Free look Period

You can cancel the policy, if you do not feel satisfied with the policy inclusions. The free look period is for 15 days only, and this is calculated from the date of commencement of the policy or policy document submission date. Please note that free look period is 30 days in case of Distance Marketing, if the policy issued is as per the IRDAI guidelines of insurance products.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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