Bajaj Allianz Life ACE

At a Glance

Bajaj Allianz Life ACE is a truly modular product where you are the one in charge of your financial plan. The product offers a life cover to secure your family in case you are not around, choice of income as you would want or a lump sum to meet your life goals.

Deferred Income

Guaranteed Income = Guaranteed income factor of 4% X Benefit Sum Assured
Cash Bonus payable = Declared Cash Bonus Rate X Benefit Sum Assured

Deferment period: You will have an option to defer the start of your income by up to 5 years

Maturity Benefit: On maturity of the Policy, you will receive:

Sum Assured on Maturity, i.e. 105% of total premiums paid plus
Accumulated Income benefits, if any plus
Terminal bonus (if declared)

Death Benefit: In case of death of the Life Assured during the policy term, the death benefit will be paid as:

Sum Assured on Death plus
105% of Accumulated Income benefits, if any plus
Terminal Bonus (if declared)

Benefits

Early Income

Income Benefit: You are eligible to receive an income in the form of Cash bonuses³ that may be declared by the Company every year. You can opt to take this cash bonus³ monthly/ yearly which gives you an income starting from the end of 1st month/ 1st year after the Deferment period of your Policy. In addition to the cash bonus³, you shall also receive a Guaranteed² Income. The income benefit is payable for the entire policy term.

Guaranteed² Income = Guaranteed² income factor of 4% X Benefit Sum Assured
Cash Bonus³ payable = Declared Cash Bonus³ rate X Benefit Sum Assured

Deferment period: You will have an option to defer the start of your income by up to 5 years

Maturity Benefit: On maturity of the Policy, you will receive:

Sum Assured on Maturity, i.e. 105% of Total premiums paid plus
Accumulated Income benefits, if any earlier, plus
Terminal bonus (if declared)

Death Benefit: In case of death of the Life Assured during the policy term, the death benefit will be paid as:

Sum Assured on Death plus
105% of Accumulated Income benefits, if any earlier plus
Terminal Bonus (if declared)

Increasing Income:

Income Benefit: You shall receive an income which comprises of a Guaranteed Income and cash bonuses, if declared. This income is paid in arrears after the end of the Premium Payment Term and Deferment period and is payable till the end of policy term. These incomes will be declared as a percentage of the Benefit Sum Assured. Benefit Sum Assured is guaranteed1 to increase at 5% p.a. (on compounding basis) every year. The increased Benefit Sum Assured will be used for calculation of respective years. Guaranteed Incomes and Cash bonuses, if declared. Guaranteed Income shall be 2% of the Benefit Sum Assured.

Deferment period: You will have an option to defer the start of your income by up to 5 years

Maturity Benefit: On maturity of the Policy, you will receive:

Sum Assured on Maturity, i.e. 105% of total premiums paid, plus
Accumulated Income benefits, if any plus
Terminal bonus (if declared)

Death Benefit: In case of death of the Life Assured during the policy term, the death benefit will be paid as:

Sum Assured on Death, plus
105% of Accumulated Income benefits, if any plus
Terminal Bonus (if declared)

Wealth

Maturity Benefit: On maturity, you will receive a lumpsum amount equal to:

Maturity Sum Assured, i.e. Maturity Sum Assured Rate x Annualised Premium, plus
Accrued Simple Reversionary Bonus (if declared), plus
Terminal Bonus (if declared)

Death Benefit: In case of death of the Life Assured during the policy term, the death benefit will be paid as:

Sum Assured on Death, plus
Accrued simple reversionary bonus (if declared), plus
Terminal Bonus (if declared)

Note:

The Sum Assured on Death will be 11 times of Annualised premium. At no time the Death Benefit will be less than the Guaranteed Death Benefit of 105% of Total Premiums paid. If there is any shortfall, the same will be added to the Death Benefit.
The death benefit will be paid-out as a lump-sum, and the policy will terminate if not opted to take the death benefit in instalments.
Annualised Premium is premium amount payable in a year excluding taxes, rider premiums and underwriting extra premium on riders, if any.
Total Premium is total of all the premiums paid under the policy, excluding any extra premium and taxes, if collected explicitly.
Please note that GST & cess (if any) will be collected over and above the premium under the policy.
The Benefit Sum Assured will only be used for the calculation of Guaranteed Income, Cash Bonus, Simple Reversionary Bonus and Terminal Bonus and will not paid on any event.
Sum Assured on Maturity is equal to (i) 105% of the Total Premiums paid under Product Option 1 (Deferred Income), Option 2 (Early Income), Option 3 (Increasing Income), and (ii) Maturity Sum Assured under Product Option 4 (Wealth).

Advantages

Early income: Option to receive income in arrears as early as from the end of 1st month /year of your Policy. The policyholder will also have the flexibility to discontinue this option anytime.
Deferred income: Option to defer income for up to 5 years (available under deferred income, increasing income and early income variant)
Life Cover: Get life cover throughout its term, up to 100 years
Decide your policy term from a wide range, i.e. 10 years to 100 years of age
Decide your income amount basis your need
Tax benefits ¹

¹1Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy..

Disclaimer

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS - IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

Risk Factors and Warning Statements: Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz Life ACE are the names of the company and the product respectively and do not in any way indicate the quality of the product and its future prospects or returns. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on www.bajajallianzlife.com) carefully before concluding a sale. Bajaj Allianz Life ACE - A Non linked, Participating, Individual Life Insurance Savings Plan. Regd. Office Address: Bajaj Allianz House, Airport Road, Yerawada, Pune - 411006, IRDAI Reg. No.: 116, CIN : U66010PN2001PLC015959, Call us on toll free No.: 1800 209 7272, Mail us : [email protected], Fax No: 02066026789, Bajaj Allianz Life ACE (UIN:116N186V02). The Logo of Bajaj Allianz Life Insurance Co. Ltd. is provided on the basis of license given by Bajaj Finserv Ltd. to use its “Bajaj” Logo and Allianz SE to use its “Allianz” logo. All charges/ taxes, as applicable, will be borne by the Policyholder.

DBS Bank India Limited (IRDA of India Registration Number: CA 0257) having the registered office at GF: Nos. 11 & 12, Capitol Point BKS Marg, Connaught Place, Delhi - 110001 is the Corporate Agent of Bajaj Allianz Life Insurance Company Limited. DBS Bank India Limited (Bank) does not underwrite the risk or act as an insurer. The Insurance product is underwritten by Bajaj Allianz Life Insurance Company Limited. The contract of insurance is between the insurer and the insured and not between the Bank and the insured. Bank does not give any warranty, as to the accuracy and completeness of the policies. Bank does not accept any liability or losses attributable to your contract of Insurance. Participation by the Bank’s customers in the insurance products is purely on a voluntary basis, and is not linked to availment of any other facility from the bank.

The contents and product information of this web site are given strictly for your convenience and is indicative in nature and ‘as is’ received from the Insurer. Nothing contained herein is to be construed as advice, recommendation, offer for a policy or any other assistance. Bank does not guarantee that this website reflects latest amendments/ information at all times or at any time. Bank shall have no liability to the customer for any loss or damage of any kind incurred for reliance on the content and product information available on this website.

DBS Bank India Limited does not underwrite the risk or act as an insurer. The Insurance products are offered and underwritten by respective insurance companies. The contract of insurance is between the insurer and the insured and not between the bank and the insured. Bank does not give any warranty, as to the accuracy and completeness of the policies. Bank does not accept any liability or losses attributable to your contract of Insurance. Customers are advised to take independent professional advice before participating. Insurance is a subject matter of solicitation.

For more details on risk factors, terms and conditions, exclusions, please read sales brochure of insurer and policy terms and conditions carefully before concluding a sale. Tax benefits are available as per the prevailing tax laws, which are subject to change. Participation by the Bank’s customers in the insurance products is purely on a voluntary basis.

For any information including cancellation, claims and complaints, please contact our Treasures Relationship Manager or visit DBS Bank India’s nearest branch office or Contact our 24-hour toll free customer service helpline number 1860 267 1234 / 1800 209 4555 or our overseas customer service number 91-44-66854555 or write to us at [email protected]. Visit us at: www.dbs.com/in

UIN: 116N186V02

BJAZ-WP-ECNF-10569/24

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Bajaj Allianz Life ACE

At a Glance

Deferred Income

Benefits

Early Income

Increasing Income:

Wealth

Advantages

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