Regular investment and savings plan:

• Investments along with critical illness benefits which provide good returns, long term saving and protection incase of a medical emergency
• Investment plans with accidental coverage
• Children’s education planning
• Specialized retirement income plans for homemakers to provide a secure and financial future.

Plans for the Confident Girl Child – Each girl child should have an equal opportunity to prove her worth in society. This can only happen when she is given the right to good  education. Her and parents dream can become a reality with help from Bajaj Allianz’s Child education plans, which help a parent secure education for their child.

Bajaj Allianz Child Gain – a special plan offers a wide array of solutions that allows you to plan for your daughter’s future, including schooling, higher education and marriage and also takes care of any uncertainties that may happen along the way.

Plans for the Confident Young Lady – As a young, confident woman, you are either studying to make your career or are earning your own living and are financially independent. Bajaj Allianz offers many products, which help check, plan and keep all the finances in order, as well as take care of the other needs. Bajaj Allianz UnitGain Plus Gold and Bajaj Allianz Young Care are two plans that help you enter the Capital Markets with no fear.

Motor Insurance specifically for Women – Special Motor Insurance Package Policy with unique women-specific services makes sure that you can drive around, worry-free.

Plans for House-wife – As a home maker of today, you are also the decision maker, unlike before. You are equally aware of the outside world and are accustomed to being consulted by your husband on decisions pertaining to finances. You also go out of your way to take care of your family with your warmth and support in case of any illness and ensure that your family members are treated with the best medical care. Saluting the confident home maker of today, Bajaj Allianz offers two plans – Bajaj Allianz InvestGain and Bajaj Allianz Family CareFirst.

These plans offer riders especially developed for today’s woman to give her that extra bit of confidence. Housewives need to safeguard their financial independence.

Additional benefits like Mahila Gain have special features for women which offer:

• Critical Illness Benefits.
• Reconstructive Surgery Benefits for Breast(s) due to Breast Cancer.
• Congenital Disability Benefits.
• Complications of Pregnancy Benefits.

Plans for the Future Grand Mother – A majority of women consider ‘financial security’ to be one of their top priorities, yet most women feel they do not have the knowledge to address financial matters. It is necessary to be financially independent, as it gives you a sense of worth and purpose. Bajaj Allianz Future Income Generator is one plan which suits all. Irrespective of age this is one plan which would ensure that you remain financially independent in your golden years of life.

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• LIC JEEVAN BHARATI | FEATURES | BENEFITS | ILLUSTRATIONS

1. SPECIAL FEATURES

1. Encashment of Survival Benefit as and when needed:
The policyholder at her option may avail the survival benefit any time on or after its due date.  If opted to avail later, increased survival benefit at the rate decided by the corporation from time to time will be payable.

2. Flexibility to pay premiums in advance:
The mode of premium payment is only yearly under this plan. However, policyholder may pay the next yearly premium in advance in instalments (maximum upto 3 instalments) during the year. If premiums are paid in advance a premium rebate may be allowed as may be decided by the Corporation from time to time

3. Option to receive maturity proceeds in the form of an annuity: :
The policyholder shall have the option to receive the maturity proceeds in the form of annuity. The rate of annuity will be based on the annuity rates prevalent at the time of stipulated Date of Maturity.

4. Auto Cover::
After two years premiums have been paid, whenever premium payment is discontinued, the life cover for full sum assured will continue for 3 years from the due date of first unpaid premium.

If death occurs during the Auto Cover period, then death benefit after deducting unpaid premiums, with interest is payable along with the vested bonus, if any.

The auto cover shall not be available for rider benefits.

2. OPTIONAL RIDERS:
The following riders are available under this plan:

A. CRITICAL ILLNESS (CI) RIDER :
An amount equal to the Critical Illness Rider Sum Assured will be payable in case of diagnosis of defined categories of critical illnesses. A person is eligible for this benefit upto a maximum age of 60 years but subject to a maximum of the policy term. This benefit can be availed for a minimum Sum of Rs 50000 and for a maximum Sum equal to the Sum assured under the basic plan subject to the maximum of Rs 5 lakh overall limit taking all critical illness riders under all existing policies of the Life Assured.

B. ACCIDENT BENEFIT RIDER:
An additional amount equal to the Accident Benefit Rider Sum Assured is payable upon death or total and permanent disability due to accident during the policy term.

This benefit can be availed for a minimum sum of Rs 50000 and for a maximum sum equal to the Sum Assured under the Basic Plan subject to the maximum of Rs.50 lakhs.

C. CONGENITAL DISABILITIES BENEFIT (CDB) RIDER:

This rider can be opted for by a female between the ages of 18yrs and 35 years.
An amount equal to 50% of the CDB Sum Assured is payable if the Life Assured gives birth to a child with specified congenital disabilities. This benefit is available for a maximum of two such children and this benefit ceases at the age of 40 years.
This benefit can be availed for a minimum Sum of Rs 50000 and a maximum sum of Rs 500000.
3. ELIGIBILITY CONDITIONS (For Basic Plan):

4. SAMPLE PREMIUM RATES FOR BASIC PLAN :

5. HIGH SUM ASSURED REBATES:

6. LOAN:
Loan is available under the plan after the policy acquires paid-up value.

7. GRACE PERIOD:
A grace period of one-month but not less than 30 days will be allowed for payment of premium .

8. REVIVAL:
A. REVIVAL DURING THE AUTO COVER PERIOD:
(i) If Critical Illness Rider is not opted for:
During the Auto Cover Period, the Life Assured can pay one or more installments of premiums with interest without submission of any evidence of health. On payment of part or full arrears of premiums with interest, the Auto Cover Period of 3 years from the due date of new FUP shall again be available during the term of the Policy.

If any survival benefit falls due during the above 3-year auto cover period the same will be paid after deduction of unpaid premiums with interest until the due date of the survival benefit, provided it is more than the unpaid premiums with interest. If the survival benefit is insufficient to cover the arrears of premiums with interest up to the due date of such survival benefit, then the survival benefit will be payable only on payment of such arrears of premiums with interest , during the period of the aforesaid 3 years or on revival of the policy thereafter.
(ii) If Critical Illness Rider is opted for:
During the auto cover period, the policy can be revived by payment of full arrears of premium together with interest and subject to submission of proof of continued insurability of the Life Assured to the satisfaction of the Corporation. The Corporation reserves the right to accept at original terms, accept at revised terms or decline the revival of the policy. The revival of the policy shall take effect only after the same is approved by the Corporation and is specifically communicated to the Life Assured.

If any survival benefit falls due during the above 3-year auto cover period the same will be paid only after revival of the policy as stated above.

B. REVIVAL OTHER THAN DURING AUTO COVER PERIOD:
If the Policy has lapsed, and the policy is not under the period of auto cover, the policy can be revived within a period of 5 years from the date of first unpaid premium and before the date of maturity by payment of full arrears of premium together with interest and subject to submission of proof of continued insurability of the Life Assured to the satisfaction of the Corporation. The Corporation reserves the right to accept at original terms, accept at revised terms or decline the revival of a discontinued policy. The revival of discontinued policy shall take effect only after the same is approved by the Corporation and is specifically communicated to the Life Assured.

The Rider/s shall be revived along with the Basic plan and not in isolation.

9. PAID UP VALUE:
If after at least three full years’ premiums have been paid and any subsequent premium not paid, this policy shall not be wholly void after the expiry of three years Auto Cover Period ,but shall continue as a paid up policy. The Sum Assured of the policy shall be reduced in the same proportion as the number of premiums actually paid bears to the total number of premiums stipulated for in the policy, less any survival benefit paid. This reduced Sum is called the paid up value.

The policy thereafter shall be free from all liabilities for payment of the premiums, but shall not be entitled to the future bonuses. The existing vested reversionary bonuses, if any, will remain attached to the reduced paid-up Policy. This paid up value shall be payable on the date of maturity or at Life Assured’s prior death. No survival benefit shall be payable under paid up policies.

The rider benefits will cease to apply if the policy is in lapsed condition and will not acquire any paid up value.

10. SURRENDER VALUE:
The Guaranteed Surrender value will be available after the expiry of 3 policy years provided the premiums have been paid for at least three years. The Guaranteed Surrender Value is equal to 30% of the total amount of premiums paid excluding the premiums paid for the first year, any premiums paid towards riders, all extra premiums that may have been paid less the amount of survival benefits paid earlier. The cash value of any existing bonuses, if any, will also be paid.
Corporation may, however, pay special surrender value as the discounted value of Paid up sum assured and vested bonus, if any, as applicable on date of surrender, provided the same is higher than guaranteed surrender value.

11. EXCLUSIONS:
Suicide: This insurance policy shall be void if the Life Assured commits suicide (whether sane or insane at that time) at any time on or after the date on which the risk under the policy has commenced but before the expiry of one year from the date of commencement of risk under the policy and the Corporation will not entertain any claim by virtue of this policy except to the extent of a third party’s bonafide beneficial interest acquired in the policy for valuable consideration of which notice has been given in writing to the branch where the Policy is being presently serviced (where the policy records are kept), at least one calendar month prior to death.

12. COOLING OFF PERIOD:
If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to us within 15 days.

A. Survival Benefits:
On Survival the following benefits are payable:

For 15 Years Term
20% of the Sum Assured payable at the end of 5 years.
20% of the Sum Assured payable at the end of 10 years.
60% of the Sum Assured payable together with vested bonus, and Final Additional Bonus, if any, at the end of 15 years.

For 20 Years Term
20% of the Sum Assured payable at the end of 5 years.
20% of the Sum Assured payable at the end of 10 years.
20% of the Sum Assured payable at the end of 15 years.
40% of the Sum Assured payable together with vested bonus and Final Additional Bonus, if any at the end of 20 years.

B. Death Benefit:
In case of death of the life assured during the policy term, the full sum assured is payable irrespective of the survival benefits paid earlier. The vested bonuses and Final Additional Bonus, if any are also payable.

Note: i)This illustration is applicable to a standard (from medical, life style and occupation point of view) life.
i) The non-guaranteed benefits (1) and (2) in above illustration are calculated so that they are consistent with the Projected Investment Rate of Return assumption of 6% p.a.(Scenario 1) and 10% p.a. (Scenario 2) respectively. In other words, in preparing this benefit illustration, it is assumed that the Projected Investment Rate of Return that LICI will be able to earn throughout the term of the policy will be 6% p.a. or 10% p.a., as the case may be. The Projected Investment Rate of Return is not guaranteed.

Section 45 of Insurance Act, 1938:
No policy of life insurance shall after the expiry of two years from the date on which it was effected, be called in question by an insurer on the ground that a statement made in the proposal for insurance or in any report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the policy, was inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the policyholder and that the policyholder knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose. Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the life assured was incorrectly stated in the proposal.

Prohibition of Rebates (Section 41 of INSURANCE ACT ,1938) :
(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy nor shall any person taking out or renewing or continuing a policy accept any rebate except such rebates as may be allowed in accordance with the published prospectuses or tables of the insurer provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taking out by himself on his own life shall not be deemed to be acceptance of a rebate of premium within the meaning of this sub-section if at the time of such acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bona fide insurance agent employed by the insurer.

(2) Any person making default in complying with the provision of this Section shall be punishable with a fine, which may extend to 500 rupees.

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