Bajaj Allianz Life Income Assure

Survival Benefit:

Provided the life assured is alive at the end of the premium payment term, the Guaranteed Monthly Income² (GMI) (irrespective of the variant chosen) will be paid every month for 144 months, starting from the end of premium payment term. Incase of death of the life assured during the installment period of the Survival Benefit, the GMI² will be stopped immediately. Any GMI² paid during the period from the date of death to the date of intimation will be deducted from the death benefit.

⁺The GMI2 has to be selected at the inception of the policy and is fixed throughout the term of the policy.

Maturity Benefit:

Provided the policy is in-force, as on the maturity date and the life assured is alive, vested bonus plus terminal bonus, if any, will be paid.

Death Benefit:

If all due premiums are paid, then in case of unfortunate death of the life assured during the policy term, the death benefit will be higher of:

• Sum Assured on Death^# plus vested bonus plus terminal bonus, if any, or

• 105% of the total premium** paid

Payment of death benefit as per the variant chosen is as follows:

Income:

• Vested Bonus (if any) plus terminal Bonus if any, will be paid immediately

• The sum assured on death will be paid to the nominee as monthly income, over the next 144 equated monthly installments (over the next 12 years), and the first installment will start from date of death

• The nominee will not have the option of taking the installments in lump sum

• The risk cover under the policy will cease as on the date of death of the life assured

• The policy will terminate on payment of the 144th monthly installment

Assure:

• Death benefit will be paid as a lump sum

• The policy will terminate on the date of death of the life assured

^#Sum Assured on Death is higher of (i) sum assured (ii) 10 times of Annualised Premium*.

*Annualised Premium is exclusive of extra premium, rider premium, Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws if any.

**Total Premium is exclusive of extra premium, rider premium, Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws , if any.