Save Care Economy SP | Bajaj Allianz Life Insurance

Save Care Economy SP of Bajaj Allianz Life Insurance is an insurance policy that has been planned to offer security and growth to the money that has been earned by the insured. This one is a Single Premium policy in which the premium is to be paid only for once and for this explanation this plan is absolutely ideal for a one-time lump sum investment.

Some of the features and benefit of Save Care Economy SP of Bajaj Allianz Life Insurance are as follows:

The minimum term of this policy is ten years and since this plan is a participating plan consequently the insured are allowed to have bonus at the time of maturity.
The minimum guarantee return that has been offered under this plan is up to 3.54(%) per cent. This amount would grow further with the help of compounded annual bonuses.
Up to 142(%) per cent of high risk cover is offered in this policy to the insured on to the sum that has been invested at the time of the beginning of the policy. This feature has been introduced to offer financial safety from various random difficulties.
The insured is also eligible for getting tax benefit as per the provisions of section 88 and section 10(10D) of the Indian Income Tax Act 1961.
At the time of maturity, the insured is eligible to get accrued bonus along with the sum that has been assured in the policy. Death benefit is also there by the nominee or the recipient of the policy would be getting the entire sum that has been assured along with the accrue bonus in case of an uncertain death of the insured.

In case of a death to a minor, the death benefit would be the surrender value of Save Care Economy SP of Bajaj Allianz Life Insurance policy or the single premium that has been paid, whichever is higher.

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