Broadly insurance can be classified in two categories: First - Life Insurance which matures in event of death of the insured/policyholder. On occurrence of such an event the insurance company pays a sum of money assured to the nominee/beneficiary (person nominated by the policyholder). Life Insurances are of two types: Traditional Plans - which contain Endowment Plan , Cash Back Plan, Term Plan , (Term Life Insurance) and Whole life policy. And Unit-linked Insurance Plans - are of 4 types - Endowment cum Ulips, Children Plan , Retirement Plan or Pension plan and investment/saving plans. Second - General insurance. All insurance policies other than life insurance policies come under general insurance segmentation. (Also known as non-life insurance policies). These policies include Home Insurance, Auto Insurance, Travel Insurance, Marine Insurance, Theft Insurance, Office insurance and Health insurance Health insurance is most acquired policy in general insurance segment. Health insurances are of 3 types - Comprehensive Plan - which include Mediclaim and Fixed benefits plan, Accidental Insurance and Critical Care plan . |
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Various Types of Insurance Plans
Traditional Plans : Following are the traditional plans offered by Bajaj Allianz Life Insurance
Endowment Plan - Currently available products to purchase
1.
Life Time Care : Is a whole life plan, where it helps you financially at the time when your regular income ends. It provides survival benefits at the age of 80. The plan also has additional benefits like Waiver of Premium , Accidental Death Cover & Disability Cover and Critical Illness Cover & Hospital Cash Cover.
2. Super Saver : Is a regular premium endowment plan, which enables the policyholder to save an amount regularly for the future. The plan also has an extra benefit of Guaranteed Additions to the sum assured, at the end of each policy year. 3. Save Care Economy SP : A 10year single premium endowment plan which provides savings with high risk cover. This plan also participates in the companies profits. It is a high risk policy but has easy liquidity and high returns. 4. Invest Gain : This plan offers a combination of benefits that help develop a financial portfolio for your family. At a small extra cost you get 4 times life cover. Also you have an option of limited premium payment. Money Back Plan - Currently available products to purchase
A money back plan which guarantees 5 easy payouts giving upto 125% + bonuses. Also 4 times a life cover. The additional benefits offered are • Family Income Benefit • Accidental Death Benefit and Disability Benefit. • Critical Illness Benefit and Hospital Cash Benefit. 1. CashGain – Quadruple life cover. Five easy payouts which give up to 125% + bonuses. 2. ChildGain – It help you to enjoy the joys of parenthood responsibly, with the comfort of a secure future for your child. 3. Cash Rich Insurance Plan – Bajaj Allianz CashRich Insurance is a plan that provides you cash benefits at three important stages of your life cycle to meet your different goals of life. Term Plans - Currently available products to purchase
1.
Term Care : Is a term Assurance plan which provides life cover and return of premiums paid at the time of maturity. It has the option of single premium payment. It is the only pure Term Plan which provides Hospital Cash Benefit.
2. New Risk Care II : Is a plan with regular/single premium payment options. This plan comes with a lowest cost for a Life Insurance cover. With regular premium plan you get additional rider benefits. Also accidental death benefit and accidental permanent total/partial disability benefit. Besides that you can also avail of critical illness benefit and hospital cash benefit. 3. Protector : Is a mortgage reducing term assurance plan. At a low premium amount you can secure your family from the burden of paying the Home Loan in your absence. You get an option of both Regular Premium payment and single premium payment. Also there is an option of Joint life availability, where the co-applicant can also be covered in the plan. |
2. New Gain Super : Is a flexible unit linked plan with partial & full withdrawals after 3 years. It offers additional benefits like UL Accidental Death Benefit and UL Disability Benefit, UL Critical Illness Benefit and UL Hospital Cash Benefit and 4 funds to choose from & flexibility to pay top-up any time.
3. New Unit Gain Plus : This plan gives you 5 investment funds to choose from. With the option of 3 free switches every year. Also, partial or full withdrawal option after 3 years. This plan offers flexibility to meet ones changing lifestyle and insurance needs. It offers guaranteed life cover.
4. Unit Gain plus Gold : A unique investment plan with the combination of protection and prospects of earning attractive returns. It has a high allocation upto 85%. You have a choice of 7 funds to invest in & also a guaranteed life cover. Additional benefit riders are also available with this plan.
5. New Family Gain-R : It is Life Insurance Plan that can take care of all the changing requirements of the family. It has maximum flexibility, so that you are provided for all the changing needs you may have.
6. Young Care : This investment plan is a Gift of a lifetime to a loved one. It offers a guaranteed Sum Assured and continued pay premium on your behalf, in case of your unfortunate death.
7. Young Care Plus : It offers the same benefit as the above plan but in addition offers a critical illness benefit.1. Swarna Vishranti : Is a plan with an option to take a tax-free lump sum upto 33% of Sum Assured + Accrued Bonuses. Open Market option: Purchase immediate annuity from Bajaj Allianz Life Insurance or any other Life Insurance Company. And also additional benefits can be availed of.
2. Pension Guaranteed : Is a plan that assures a regular income after your retirement for life.
2. New Unit Gain Easy Pension plus SP : A unit linked pension plan without life cover. It has single premium payment mode. An option to take a tax-free lump sum up to 33% of Sum Assured. You can invest in any 6 funds. With 3 free switches every year. Also open market option: Purchase immediate annuity from Bajaj Allianz Life Insurance or any other life insurer.
3 Future Secure : It is a plan which secures your future.
4. Future Income Generator : It h elps you maintain the same lifestyle you lead now ,after your retirement. The saving today becomes your wealth and support to help secure your future. The plan is about wealth creation, smart savings and peace of mind along with a corpus, which secures your life, post retirement.2. Family Care First : It is a plan for the whole family. This unique hospitalisation plan gives you health cover for your entire family. You can secure your family with one plan.
3. Care First : A Medical Insurance plan till the age of 65years. And you can renew the policy every 3 years. The premium rate is level and guaranteed for the length of each policy term of 3 years with extra benefits like day care treatment and pre and post hospitalization treatment.2. Saral Suraksha Yojana : A Term Insurance policy with return of premium on maturity.
3. Jana Vikas Yojana : A single premium plan with maturity benefit of 125% of the single premium payable on survival till the end of the policy term.Registered Office : Bajaj Allianz Life Insurance Company Limited ,
GE Plaza 1st Floor,
Airport Road, Yerawada
Pune - 411006