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Bajaj Life ACE Advantage
Saving money is vital for your financial future as it helps meet financial obligations. It provides financial security and freedom, and also secures you in a financial emergency. A lumpsum corpus is always helpful in fulfilling various financial needs at different life stages.
Presenting Bajaj Life ACE Advantage, a non-linked, participating, individual life insurance, savings plan which protects you with a life cover, while creating a future corpus with an upsides through participation in bonuses3.
FEATURES
Security: Life cover to protect your family
Guarantee1: Get guaranteed1 payout/s during the premium payment term
Flexibility: Plan your future goals with wide range of Policy term option
Tax Benefits^: Avail tax benefits^ as per prevailing tax laws
Additional Coverages: Choice of riders offering enhanced protection.
PLAN OPTIONS/VARIANTS
Survival Benefit -
Guaranteed1 Payout/s as 102.25% of one Annualised premium4 will be paid at the beginning of policy year for number of years as shown in table above. You will have an option to use this survival benefit to adjust against your renewal premium in the policy. To ensure premium offset, the frequency and timing of the Guaranteed1 Payouts will be same as that of the premium payment mode in the policy.
| Premium payment term (years) | 5 | 6 | 8 | 9 | 10 | 12 & above |
| Number of Payouts | 1 | 2 | 3 | |||
| Payouts at the beginning of policy year | 5 | 6 | 7,8 | 8,9 | 9,10 | PPT-2, PPT-1, PPT |
PPT = Premium Payment Term
- Guaranteed1 Maturity Benefit (GMB) plus,
- Accrued Simple Reversionary Bonus3 (if declared),
- plus Terminal Bonus3 (if declared)
Maturity Benefit -
If the policy is in-force and all due premiums are paid up to date, you will receive a lumpsum amount on maturity equal to:
where Sum assured on maturity is equal to GMB
- Sum Assured on Death, plus
- Accrued simple reversionary bonus3 (if declared), plus
- Terminal Bonus3 (if declared)
Death Benefit -
If the policy is in-force as on the date of death, all due premiums are paid up to date of death of the Life Assured during the policy term, the death benefit will be paid in lumpsum as:
Where Sum assured on death is the Sum Assured. The Death Benefit will not be less than the Guaranteed1 Death Benefit or the surrender value available then, whichever is higher.
Note:
• Annualised Premium shall be the premium amount payable in a year by the policyholder excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.
• Total Premiums means total of all premiums paid under the policy, excluding any extra premium and taxes, if collected explicitly
• Guaranteed1 Death Benefit shall be 105% of the Total Premiums Paid2
• Guaranteed1 Maturity Benefit will be GMB factor multiplied by Annualised premium4
Policy Documents
ELIGIBILITY
Eligibility
- Click on Know More for Eligibility
Disclaimer
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS -IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaintRead More
1Conditions apply. The Guaranteed benefits are dependent on the policy terms, premium payment terms availed along with other variable factors.
2Total Premiums means total of all premiums paid under the policy, excluding any extra premium and taxes, if collected explicitly
3Bonuses are not guaranteed and it depends on the Company's Performance
4Annualised Premium shall be the premium amount payable in a year by the policyholder excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any
^Tax benefits as per prevailing Section 10(10D) and Section 80C (under old tax regime) of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy
Bajaj Life Insurance Ltd.(Formerly known as Bajaj Allianz Life Insurance Company Limited)
Risk Factors and Warning Statements: Bajaj Life Insurance Limited and Bajaj Life ACE Advantage are the names of the company and the product respectively and do not in any way indicate the quality of the product and its future prospects or returns. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on www.bajajlifeinsurance.com) carefully before concluding a sale. Bajaj Life ACE Advantage - A Non linked, Participating, Individual Life Insurance Savings Plan. Regd. Office Address: Bajaj Insurance House, Airport Road, Yerawada, Pune - 411006, IRDAI Reg. No.: 116, CIN : U66010PN2001PLC015959, Mail us : customercare@bajajlife.com Call on : customer care no. 020-6712 1212. The Logo of Bajaj Life Insurance Ltd. is provided on the basis of license given by Bajaj Finserv Ltd. to use its “Bajaj” Logo. All charges/ taxes, as applicable, will be borne by the Policyholder.
The risk factors of the bonuses projected under the product are not guaranteed | Past performance of the Company doesn't construe any indication of future bonuses | The product is subject to the overall performance of the Company in terms of investments, management of expenses, mortality and lapses.
IDFC FIRST Bank Ltd is a Corporate Agent for Bajaj Life Insurance Limited and is registered with Insurance Regulatory and Development Authority of India bearing registration number CA0106. This Plan is offered and underwritten by Bajaj Life Insurance Limited. The purchase of an insurance plan by the customer is purely on voluntary basis.
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