Bajaj Allianz Term Care

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Bajaj Allianz Term Care

 

	Eligibility
Entry Age (years)
Minimum		18
Maximum		50
Maximum Maturity Age (years)		65
Policy Term (years)
Minimum		5
Maximum		40
Sum Assured (Rs)
Minimum		100000
Maximum		1000000
Minimum Premium (Rs)
Yearly		1500
Half-Yearly		1500
Single		6000
Premium Payment Frequency		Single, Yearly, Half-Yearly
Premium Payment Term		Depends on the Package opted by the insured member: Economy: Regular and Single Premium Payment Protect: Regular Premium Payment Health: Regular Premium Payment Total: Regular Premium Payment
Policy Cover		Cover remains same throughout the policy term
Other Features
Free Look Cancellation		In case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered.
Grace Period		You are allowed to pay premiums within 30 days from the due date for Yearly, Half yearly and quarterly premium payment modes and 15 days in case of monthly premium payment mode.. If a due premium is not received within the grace period, your policy will lapse and the life insurance cover will be terminated.
Lapsed Policy Reinstatement		You can reinstate your lapsed policy within specific years (as mentioned in policy document) from the due date of the first unpaid premium) by paying all the due premiums with interest and undergoing underwriting requirements, if any.
Tax Benefits		Section 80C, 10(10D) of the Income Tax Act, 1961 would apply. Critical illness Bnenefit and Hospital Cash Benefit will be eligible for tax exemption under section 80D od Income Tax Act.
Exclusions		In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable.
Maturity Value		Return of basic premium paid less rider premiumr or any extra premiums paid.
Surrender Value		Allowed if initial three years premiums were paid on time.
Customer Service
Address		Bajaj Allianz Life Insurance Company Limited, G.E. Plaza, Airport Road, Yerawada, Pune - 411 006.
Additions to the Plan
Available Rider(s)		Accidental Death Benefit: It covers death due to accident. It pays a benefit of double the basic Sum Assured subject to the maximum limit of Rs 10 lakh. Accidental Permanent Total/ Partial Disability Benefit: it covers Accidental Permanent Partial Disability for which it pays 50% of Sum Assured subject to a maximum of Rs 5 lakh under all policies with Bajaj Allianz taken together. It also covers Accidental Permanent Total Disability for which it pays 100% of Sum Assured subject to a maximum of Rs 10 lakh under all policies with Bajaj Allianz taken together. Waiver of Premium: It waives off all future premium in case the insured person becomes totally disable due to an accident. Critical Illness Benefit: It covers 11 critical illnesses namely: First Heart Attack, Coronary Artery Disease requiring surgery, Stroke, Cancer, Kidney Failure, Major organ transplantation, Multiple Sclerosis, Aorta Graft Surgery, Primary Pulmonary Arterial Hypertension, Alzheimer's Disease and Paralysis. There is a waiting period of 6 months from inception of the policy to claim the critical illness benefit. Hospital Cash Benefit: hospital bills (room charges) after a waiting period of 60 days from the date of buying the policy or reinstatement.
Rider Conditions
Sum Assured (Rs)
Minimum		Critical illness Benenfit and Hospital Cash bnenefit: 50000
Maximum		Accidental death benefit: 10 lakh; Hospital Cash Benefit: 2.5 lakh
Rider Premium (Rs)		Rider premiums vary for each policyholder depending on policyholder's age, health condition, lifestyle, Sum Assured and Policy Term.

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