Bajaj Allianz Lifelong Assure Plan is a whole life traditional participating endowment plan in which premiums are paid only for a specific term. This implies that the plan gives insurance coverage for the whole life of the insured without there being a break in the continuity in coverage.

Key Benefits

  • Maturity Benefit for the plan ensures that if the insured reaches 100 years of age and the plan matures, then the sum assured on maturity is paid as a percentage of the sum assured based on the premium paying term (PPT) and any terminal bonus.
  • 10 years PPT - 200% of sum assured on maturity
  • 15 years PPT - 250% of sum assured on maturity
  • 20 years PPT - 300% of sum assured on maturity
  • The death benefit payable on the death of the insured to the beneficiaries as below

Age

Higher of the three options will be paid

45 years or less

10 times of annual premium

105% of the premium paid to date

200%. 250% or 300% of sum assured depending on the premium tenure

45 years or more

7 times of annual premium

105% of the premium paid to date

200%. 250% or 300% of sum assured depending on the premium tenure

  • Survival benefits entail guaranteed cash backs to the insured after completion of premium tenure at 3% of the sum assured. Cash bonus, if applicable, paid from the 6th year of the policy.
  • Discounted premiums are available for higher sum assured in the plan.
  • Tax benefit can be availed u/s 80C for premium and for maturity benefits u/s 10(10D) of the Income-Tax Act 1961.
  • Loans are available if the plan has a surrender value option with a maximum loan available at 80% of the plan surrender value.

Important Points to Note:

Plan valid for up to 100 years of the life of insured

The minimum sum assured is Rs. 1,00,000 with no upper limit cap

Flexible plan with tenure range at 10 years, 15 years and 20 years

Flexibility in payment of premium at monthly, quarterly, half-yearly and annually

Female policyholders get a premium rebate

A grace period of 30 days for premium payments. 

Popular Links

Related Q&A

Credit Card By Bank

Credit Card Customer Care

Personal Loan Customer Care

Home Loan Customer Care

Popular Bank IFSC Codes

Gold Rate Today

Silver Rate Today

CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf. We do not sell any loans on our own and do not charge any fee from our customers/viewers for the purpose of loan application

Mastercard
Visa
Rupay
SafeKey
thawtr
Corporate Agent (Composite)

CreditMantri Finserv Private Limited

CIN No

U72100TN2012PTC085154

IRDAI Registration Number

CA0665

Valid Till

01-Aug-2025

ADDRESS

CreditMantri Finserve Private Limited Unit No. B2, No 769, Phase-1, Lower Ground Floor, Spencer Plaza, Anna Salai, Chennai - 600002

Copyright © 2024 CreditMantri