The offer financial safety and security to the family member of the insured so that they can live their life happily and peacefully. Apart from this the insurance plan is also known to offer terminal bonus as well.
Features and benefits of Bajaj Allianz Life Time Care are:
• Here, the insured is eligible to have both death as well as maturity benefit.
a) In case of maturity benefit, the insured is eligible to have the entire sum that has been assured in this policy.
b) In case of death benefit the beneficiary or the nominee would be getting the insured sum after the death of the insured.
• Riders like accidental death benefit, permanent or partial disability benefit, waiver of premium benefit, critical illness benefit and hospital cash benefit.
• Options regarding the modes for making the payment of premiums are yearly, quarterly and half-yearly.
• This is one such policy in which the survival benefits are offered. In this case if the insured has managed to survive for more them eighty years then he or she would become eligible for revisionary, terminal and interim bonus.
• Tax benefit is also available on to the amount of premium that has been paid for keeping the policy in force. The tax benefit would be offered as per the provisions of section 80D, 80C and section 10(10D) of the Indian Income Tax Act, 1961.
• Female policy holders are eligible for getting discount on the premiums that is to be paid for keeping the policy in force. Here the basic premium would be similar to the premium for a two year younger male insured.
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