Organization : Bajaj Allianz Life Insurance Company Ltd
Scheme Name : Bima Dhan Suraksha Yojana
Download Brochure : https://www.statusin.in/uploads/17752-BDSY-brochure.pdf
Website : https://www.bajajallianzlife.com/micro-insurance.jsp
Bima Dhan Suraksha Yojana :
Life is full of ifs and buts.
Related : Bajaj Allianz Get Claim Status : www.statusin.in/2611.html
None of us know what the future beholds. Protect your family with “Bajaj Allianz Life Bima Dhan Suraksha Yojana”, a non-linked, non- participating, single & regular premium payment micro term assurance plan with return of premiums at maturity.
Plan working :
You can customize your policy to suit your requirement in the following manner:
Step 1: Choose your Sum Assured
Step 2: Choose your Policy Term
Step 3: Choose your Premium Payment Frequency
Your premium will be based on sum assured, age, policy term and premium payment frequency
Let’s see an example:
Suresh aged 30 years has taken Bajaj Allianz Life Bima Dhan Suraksha Yojana and opted for a Policy Term of 10 years. The Sum Assured chosen by him is 1,75,000 for which he is paying a premium of 5,000 p.a. th In case of unfortunate death of Suresh at the end of the 4 policy year, his nominee will receive 1,75,000 as Death Benefit.
Key Advantages :
• Safeguard your family with a life insurance cover for affordable premiums
• Guaranteed payout on death or maturity
• Return of 100% premium paid at maturity
• Choice of 3 policy terms – 5, 7 and 10 years
• Option to avail policy loan
Plan Benefits :
Maturity Benefit :
You will receive 100% of total premium paid as guaranteed benefit on maturity.
Total premium excludes any extra premium, service tax & education cess, if any
Death Benefit :
If all due premiums are paid under the policy, then in case of unfortunate death of the life assured during the policy term, # the Sum Assured on Death shall be paid. All the risk cover with respect to the policy shall be terminated.
#Sum assured on death is :
For regular premium:
higher of (i) sum assured (ii) 5 or 10 times of annualized premium* paid (for policy term of less than 10 years or for policy term of 10 years respectively) (iii) 105% of total premium paid (iv) minimum guaranteed sum assured on maturity (v) any absolute amount assured to be paid on death
For single premium: higher of (i) sum assured (ii) 125% or 110% of single premium* paid (for age less than 45 years or for age greater than equal to 45 years respectively) (iii) minimum guaranteed sum assured on maturity (iv) any absolute amount assured to be paid on death
*Annualized premium and single premium excludes any extra premium, service tax & education cess, if any.
Total premium is exclusive of extra premium, service tax & education cess, if any. The service tax & education cess will be collected over and above the premium under the policy.
Minimum guaranteed benefit to be paid on maturity is the return of total premiums* paid and the absolute amount assured to be paid on death is the sum assured.
Policy Loan :
You can avail loan under your policy provided it has acquired a surrender value. The loan amount shall be up to 70% of the surrender value available under the policy as on the date of loan. On death, surrender or maturity, the outstanding policy loan plus interest, as on that date will be deducted from the respective benefit payable. Loan interest rate applicable for the loan will be as decided by the Company from time-to-time.
Revival :
If your policy is lapsed or has become paid-up due to non-payment of premium, you may revive the policy subject to the following conditions
a) The application for revival is made within 2 years from the due date of first unpaid premium but before the maturity date.
b) All the due premiums along with applicable taxes together with interest at such rate as the Company may decide from time to time is paid.
c) Satisfactory evidence of your good health and continuity of insurability to be furnished at your own expense.
d) The revival of the policy may be on terms different from those applicable to the policy before it got lapsed/ became paid-up depending upon the prevailing Board approved underwriting guidelines.
e) The revival will take effect only on it being specifically communicated to you by the Company.
f) The Company may revive or refuse to revive the policy, based on the prevailing Board approved underwriting guidelines.
On revival, all the benefits under the policy which prevailed before the date of latest lapse/paid-up will be reinstated.