Bajaj Allianz Cash Assure Policy: The Perfect Money Back Plan?

When it comes to buying a traditional money back policy, the Bajaj Allianz Cash Assure Plan finds its place at the top in the list of options. Why? It is because the Bajaj Allianz Cash Assure Plan serves the dual purpose of ensuring savings as well as financial security. 

Bajaj Allianz Cash Assure Plan is specifically designed to meet the needs of a family’s financial needs. Reliable, affordable and true to its name, the money-back plan delivers lump sum payments at regular periods to support the policyholder and their family. Cash Assure Plan by Bajaj Allianz is a non-linked participation plan that features periodic paybacks during the policy term. 

Key Features Under Bajaj Allianz Cash Assure 

Below mentioned are some of the key features of the Bajaj Allianz Cash Assure Plan that you must be aware of beforehand:

• The plan has a minimum entry age of 0 days and a maximum entry age of 54 years. 
• The plan has a maturity age ranging between 18 years to 70 years.
• The plan comes with a money-back guarantee. The policyholder is assured to get their money back at specific times. Bajaj Allianz gives guaranteed money back up to 150% of the sum assured on the basis of policy duration. 
• The plan requires the policyholder to pay the premium at predetermined intervals beginning with the policy's inception. The policyholder can choose the policy term of 16, 20, 24, or 28 years as per their requirements. 
• The plan comes at reduced premium payment rates for women policyholders. 
• The plan allows the policyholder to cancel their plan at any given time after paying three full years' payments. The surrender value will be more than the guaranteed surrender value and special surrender value.

Key Benefits Offered Under Bajaj Allianz Cash Assure Plan

Some of the key benefits offered under the Bajaj Bajaj Allianz Cash Assure Plan that you must be aware of are:

• Death Benefit: In the event of the unfortunate demise of the policyholder, the nominee of the policy gets a terminal bonus (if earned), total sum assured in the policy (if earned), and interim bonus (if obtained). The sums are subject to 105% of the total premium that is paid out in the form of death benefits. Once the death benefit is paid, the policy terminates.
• Maturity Benefit: Maturity benefits are paid after the policy term. Maturity benefit is 60% of the total guaranteed sum along with the vested bonuses as well as terminal bonuses.
• Additional Riders: A policyholder, as per their needs, can choose from a vast array of additional riders to enhance the coverage already offered under the policy. Some of the major optional riders available with the Bajaj Allianz Cash Assure plan are accidental death benefit rider, critical sickness benefit rider, waiver of premium benefit rider, and family income benefit rider.
  
• Policy Loan: The policyholder can borrow a loan against the policy if it comes with a surrender value. A policyholder can borrow a loan on as much as 60% of the surrender value. Once the plan matures, is surrendered, or the death of the policyholder takes place, the outstanding loan amount and interest is deducted from the maturity, survival, or surrender or death benefit. The interest rate of the loan is determined by the insurance company and can fluctuate from time to time.
• Tax Benefits: The premiums paid under the Bajaj Allianz Cash Assure policy are tax-deductible under Section 80C of the Income Tax Act. Additionally, under Section 10(10D) of the Income Tax Act, 1961.

Final Words

Now that you are aware of the basics of the Bajaj Allianz Cash Assure Policy, make sure you choose it to enjoy savings and life coverage at the time of need. To know more, contact InsuranceDekho experts today! 

You may also like to read - Things That Make Money Back Plan The Best Investment Option

What Rider Are Suitable For Money-Back Policies?

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.