All About Bajaj Allianz Cash Assure Plan

Bajaj Allianz Cash Assure Plan is a traditional money back plan, which offers both savings as well as protection of money at the same time. A lump sum payout is given to the policyholder in fixed intervals in order to meet all your financial requirements.  Moreover, you can also avail of rider benefits by just paying some nominal cost.

Bajaj Allianz Cash Assure Plan Features

The features of the Bajaj Allianz Cash Assure Plan are as follows:

• The minimum entry age to get this plan is between 0 days and 54 years.  While the maturity age for this plan lies between 18 years to 70 years.
• A policyholder can choose the term of the policy i.e. 16,20,24 or 28 years.
• This insurance plan is a mix of both savings as well as protection, wherein the policyholder receives back the money at regular intervals.
• A policyholder is guaranteed money back of up to 150% of the sum assured.

Bajaj Allianz Cash Assure Plan Benefits

The benefits offered under Bajaj Bajaj Allianz Cash Assure Plan are as follows:

1. Death Benefits: In the event of the demise of the policyholder during the tenure of the insurance plan, the compensation offered to the nominee is as follows:

• Interim Bonus, if earned
• Terminal Bonus, if earned
• Total Sum Assured in the Plan

The amounts aforementioned are subject to 105% of the overall premium, which gets paid in the form of death benefits. The insurance plan would get terminated, thereafter.

2. Survival and Maturity Benefits: You are required to pay all your premiums on time, in order to receive money backs on the destined due date as a survival benefit. On the maturity date, you would receive all maturity benefits upon timely premium payments.

3. Tax Benefits: The premiums payable under this plan are eligible for tax deductions as per section 80C of the Income Tax Act. Moreover, the benefits received under this plan are also eligible for tax deductions as per section 10(10D) of the Income Tax Act.

4. Surrender Benefit: A policyholder is allowed to surrender their insurance plan anytime during the tenure of the plan in case the premiums for 3 years have been paid already.

5. Additional Riders: There are various additional riders that can be used in order to enhance the coverage offered under an insurance plan. Some of the riders that can be bought with this plan include critical illness benefit rider, family income benefit rider, accidental death benefit rider, and waiver of premium benefit rider.

In a Nutshell

After going through the afore-mentioned points without a doubt, Bajaj Allianz Cash Assure Plan is extremely beneficial for an individual as it provides various additional features like grace period, free look period, policy revival, policy loan, etc.

Also Read:

Which Riders are Suitable For Retirement Plans?

How Can a Rider Make Your Term Insurance Plan More Efficient?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.