Bajaj Allianz CashRich Insurance Plan_Ver2

7/29/2019 Bajaj Allianz CashRich Insurance Plan_Ver2

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Strictly Confidential For Internal Circulation OnlyBajaj Allianz CashRich Insurance Plan

Product Circular

Bajaj Allianz CashRich Insurance Plan

Participating, Non LinkedLimited Premium Payment Endowment Plan

UIN: 116N103V01

FOR INTERNAL CIRCULATION ONLY

Department: Product Development


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TABLE OF CONTENTS

1. PURPOSE AND SCOPE ................................................................................................................................................. 32. PRODUCT TYPE ............................................................................................................................................................. 33. POLICY CONTRACT ..................................................................................................................................................... 34. JOINT LIFE AVAILABILITY ........................................................................................................................................ 35. ELIGIBILITY AND LIMITS .......................................................................................................................................... 36. PRODUCT DESCRIPTION ........................................................................................................................................... 47. HIGH SUM ASSURED REBATE ................................................................................................................................. 5

8. STAFF REBATE ............................................................................................................................................................... 5

9. OPTION TO PAY ADVANCE PREMIUM .......... .......... ........... .......... ........... .......... ........... .......... ........... .......... ........ 510. DEFINITIONS ................................................................................................................................................................ 511. BONUS ............................................................................................................................................................................ 512. BENEFITS PAYABLE .................................................................................................................................................... 613. ADDITIONAL RIDER BENEFITS ............................................................................................................................ 714. LOAN ............................................................................................................................................................................. 1115. NON FORFEITURE ..................................................................................................................................................... 1116. GRACE PERIOD .......................................................................................................................................................... 1317. REINSTATEMENT/ REVIVAL ................................................................................................................................. 1318. TERMINATION OF THE POLICY .......................................................................................................................... 1319. BACKDATING ............................................................................................................................................................ 1420. FREE LOOK PERIOD ................................................................................................................................................. 1421. ASSIGNMENT AND NOMINATION .................................................................................................................... 14


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1. PURPOSE AND SCOPE

Bajaj Allianz CashRich Insurance Plan ensures a regular stream of income by providing the Policyholder with

cash benefits at three important stages of life cycle.

2. PRODUCT TYPE

Bajaj Allianz CashRich Insurance Plan is a Limited Premium Payment, Participating Individual Non Linked

Endowment Plan.

The key features of this plan are:

Cash benefits in three phaseso Accumulated compound reversionary bonus on completion of premium payment term.o Cash Back benefit of 5% of the Sum Assured plus cash bonus, if any declared every year, during the

cash back period and.

o Sum Assured plus terminal bonus, if any on maturity of the policy. Flexibility to

Select policy term from 10 years to 65 years Select limited premium paying term (PPT) from 5 years to 30 years, in multiple of 5 only. Pay future premiums in advance to get benefit of appropriate discounts.

Option to:o Keep the policy in-force for full Sum Assured for a period of two years, even if the Policyholder miss to

pay premiums on due dates, provided the Policyholder has paid at least 3 years premiums in full.

o Convert the policy to a single premium term cover with return of premium (ROP) policy, providedthe Policyholder has paid at least 5 years premiums in full.

More value for money with high Sum Assured rebate. Optional riders to enhance protection

3. POLICY CONTRACT

Policy Contract The basis of the contract will be the Proposal Form filled by the Proposer. The policy

document will be the evidence of the contract.

4. JOINT LIFE AVAILABILITY

This product will be available for Single life only.


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Maximum Age at

Maturity

100 years

(Additional riders ceases at attained age of 65 years)

Policy Term Minimum: 10 years

Maximum: 65 years

Premium Paying

Term (PPT)

5, 10, 15, 20, 25 & 30 years, subject to the maximum premium ceasing age

of 65 years.

Rider Benefit Term Equal to Premium Paying Term (PPT)

Cash Back Period The policy term less the PPT is called the Cash Back Period and it can be

any term between 5 & 35 years

Minimum Premium Rs. 8,000 per yearly installment,

Rs. 4,000 per half-yearly installment,

Rs. 2,000 per quarterly installment

Rs. 750 per monthly installment

(Annualized premium of less than Rs. 10,000 in half yearly mode will beallowed only if premium payment is through direct debit and ECS. Thequarterly and monthly modes will be allowed for direct debit and throughECS only. For monthly mode 3 installments need to be paid at the inception

of the policy)

Maximum Premium No Limit

Sum Assured Minimum: Rs. 1,00,000

Maximum: No Limit

Premium Payment

Frequency Factor

The modal premium for frequencies other than annual mode is arrived at

by multiplying the annual premium by the premium payment frequency

factors, given below:

Payment

frequency

Monthly Quarterly Half

yearly

Yearly

Frequency Factor

(freq)

0.09 0.26 0.51 1.00

6. PRODUCT DESCRIPTION

The whole policy term consists of two phases: a premium payment term and a cash back period, bothselected by the Policyholder at the inception of the policy.

At the end of the premium payment term, the accumulated compound reversionary bonus shall be payableto the Policyholder, followed by the payment of Cash Back benefit of 5% of the sum assured plus the

annual cash bonus (if any as declared by the company), at the end of each policy year, till the end of the


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sum assured plus the interim cash bonus, if any plus the terminal bonus, if any, shall be payable to the

nominee.

7. HIGH SUM ASSURED REBATE

High Sum Assured rebate of Rs.84 for every additional Rs. 10,000 Base Sum Assured purchased over and above

the Base Sum Assured of Rs. 100,000 will be offered under the plan.

8. STAFF REBATE

Staff Rebate of 7.5% of calculated premium will be offered under the plan.

9. OPTION TO PAY ADVANCE PREMIUM

The Policyholder may pay premiums in advance in lump sums. (Refer Annexure B) The company shall allow appropriate discount on payment of advance premiums at rate of interest

declared by the company every financial year.

Refer Annexure C for the rates of discount declared by the company. In case of death of the Life Assured or if the policy is surrendered, such advance premiums paid will be

refunded to the Policyholder

10. DEFINITIONS

1. Sum Assured: This is the benefit amount the Policyholder need to choose at inception of the policy forreceiving the cash back benefits, the maturity benefit and, if applicable, the surrender benefit under the

plan. This is the minimum benefit amount payable upon death of the Life Assured2. Paid-Up Sum Assured: This is applicable when the Policyholder discontinues the payment of premium

under the policy after paying at least 3 years premiums in full. This amount is arrived at, as on due date of

first unpaid premium, by multiplying the prevailing Sum Assured with the ratio of the number of

premiums paid to the number of premiums payable under the policy.

11. BONUS

The Company will carry out annual valuation (as per the current IRDA regulation) at the end of each financial

year and may declare following bonuses for the policies where all the due premiums have been paid.

a.Compound Reversionary Bonus: This is a regular bonus expressed as a percentage and is applied to the BaseSum Assured and the compound reversionary bonus amount already attached to the policy. The compound


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c.Cash Bonus: After the premium paying term, the Company may declare a cash bonus as a percentage of theSum Assured which will be payable along with the Cash Back benefits at the end of every policy year during

the cash back period.d.Terminal Bonus: If the policy has completed 10 years or more and all due premiums have been paid, the

company may pay a terminal bonus as well on the termination of the policy due to death or maturity

12. BENEFITS PAYABLE

a) DEATH BENEFIT

In case of unfortunate demise of the Life Assured during the premium paying term and provided allthe due premiums have been paid, the company will pay the Sum Assured plus the applicable

bonuses (see section 9) to the nominee.

In case of unfortunate demise of the Life Assured during the premium paying term but the policy isin auto cover period, the company will pay the Sum Assured plus the applicable bonuses to the

nominee after deducting all the due-but-unpaid premiums along with applicable interest.

In case of unfortunate demise of the Life Assured when the policy is paid-up, the company will paythe below mentioned death benefit to nominee :

Death during PPT: Paid-up Sum Assured plus the applicable bonuses. Death during cash back period: Paid-up Sum Assured.

In case of unfortunate demise of the Life Assured after the premium paying term but during thecash back period, provided all due premiums have been paid, the company will pay the Sum Assured

plus the terminal bonus, if any, to the nominee.

In case of unfortunate demise of the Life Assured after the premium paying term but during thecash back period and if the policy is paid up, the company will pay the paid-up Sum Assured only.

In case of unfortunate demise of the Life Assured after the policy has been converted to a singlepremium term cover with return of premium (ROP), the Company will pay the revised Sum Assured,i.e., the Sum Assured ascertained at the time of such conversion of the policy.

No death benefit shall be payable in case the policy is lapsed. Any advance premium paid under the policy will be refunded to the policyholder (as paid, without

any interest) along with any death benefit payable

b)SURVIVAL BENEFITAt the end of the premium paying term, the Policyholder will receive the compound reversionary bonus

accrued during the premium paying term, provided the policy is in-force or paid-up but not converted to a

single premium term cover with return of premium (ROP).

c) CASH-BACK BENEFIT


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If the policy is in auto-cover period and the cash back period starts (before the expiry of the auto-coverperiod), the auto-cover will be terminated immediately and the policy will be converted to a paid-up

policy. In such case, the Cash Back benefit will be 5% of the paid-up sum assured plus cash bonus, ifany as declared at the end of each policy year

No Cash Back benefit shall be payable in case the policy is lapsed or has been converted to a singlepremium term cover with return of premium (ROP).

d) MATURITY BENEFIT

If the policy is in-force for full Sum Assured, then, on the maturity date the Policyholder will receivethe Sum Assured plus the terminal bonus, if any, as maturity benefit.

However, if the policy is paid up, then, the maturity benefit shall be the paid- up Sum Assured. In case the policy is converted to a single premium term cover with return of premium (ROP), then,

the maturity benefit shall bethe single premium, as determined as on the date of such conversion.

The policy shall be terminated upon payment of the maturity benefit.e) SURRENDER BENEFIT

If the policy is being surrendered by the policyholder before it is converted to a Single Premium Term

Cover with ROP, the below conditions will apply:

The policy can be surrendered provided at least three (3) full years premiums have been paid and aftercompletion of three (3) policy years.

The surrender value payable will be the higher of the guaranteed surrender value (GSV) or the specialsurrender value (SSV).

The GSV is equal to 30% of premiums paid excluding the first years premium, premiums for all additionalrider benefits, if any, and extra premiums, if any.

The SSV will be arrived at by multiplying the paid-up Sum Assured plus the vested bonus (if the vestedbonus has not already been paid out to the Policyholder), as on the date of surrender, with the SSV factor.

The SSV factors will be declared by the company from time to time.

If the policy has been converted to a SPTC with ROP, the surrender value shall be determined as

mentioned below:

The surrender value will be the higher of the Guaranteed Surrender Value and the Special SurrenderValue with respect to the SPTC with ROP.

The guaranteed surrender value will be 30% of the single premium, as determined as on date of suchconversion to a SPTC with ROP.

The special surrender value will be based on the special surrender value factor in respect of the SPTC withROP, which will be applied on the said single premium. The factors will be declared by the company from


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d) Critical Illness benefit (UIN : 116C007V01)e) Hospital cash benefit (UIN : 116C008V01)Comprehensive Accidental Protection Rider, Supplementary Death Benefit Rider and Family Income BenefitRider shall be allowed also on the Proposer Life where the Life Assured is a minor.

The rider benefits should be read in conjunction with the Rider Circular.

The Sum Assured for rider(s) cannot exceed the Sum Assured under the plan subject to the applicable

minimum/maximum Sum Assured for the particular rider and the minimum applicable Sum Assured under

the plan.The minor Life Assured, upon attaining majority, shall have the option to choose any of the above riders. Theterm of the rider should be less than or equal to the outstanding PPT (whole number, roundeddown,outstanding PPT being greater than or equal to 5 years), subject to the minimum/ maximum term/agefor the particular rider.

If the Life Assured chooses CAP and/or FIB rider/s, both the CAP and FIB riders on the Proposers life, if

taken, have to be, invariably, discontinued.

If FIB/CAP (on the proposers life where the Life Assured is minor) becomes payable then the LA upon

attaining majority cannot opt for any of the riders available under the plan.

a) COMPREHENSIVE ACCIDENTAL PROTECTION

The Life Assured for this rider has to be the Life Assured under the base plan; or if the Life Assured under thebase plan is a minor, it can be the Proposer of the base plan.

The Comprehensive Accident Protection would comprise of the following:

a) Accidental Death Benefitb) Accidental Permanent Total/Partial Disability Benefitc) Waiver of Premium Benefit in case of Accidental Permanent Total Disability.

i) Accidental Death Benefit

The accidental death coverage can only be chosen if the issue age of the Policyholder is not less than 18 and not

more than 50 years. The coverage is provided until the age being 65. The additional amount payable in the

event of accidental death will be the lower of: The basic Sum Assured, or Rs 50,00,000 under all the Bajaj Allianz Life Insurance policies of the Policyholder taken together.

The accidental death benefit shall be payable if the policy is in force for the full Sum Assured. Death must occur

within 180 days of the accident as a direct result of the accident.

ii) A id t l P t T t l/ P ti l Di bilit B fit


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The amount payable in the event of accidental permanent partial disability will be the lower one of:

50 % of the Sum Assured Rs 25,00,000 under all the BJAZ policies of the Policyholder taken together.

If the Policyholder did not receive a benefit for accidental permanent partial disability before, the amount

payable in the event of accidental permanent total disability will be the lower one of:

the Sum Assured Rs 50,00,000 under all the Bajaj Allianz Life Insurance policies of the Policyholder taken together

If the Policyholder did receive a benefit for accidental permanent partial disability before and the time passed

from the occurrence of the partial disability is less than one year, the amount payable in the event of accidental

permanent total disability will be the lower one of:

50 % of the Sum Assured Rs 25,00,000 under all the Bajaj Allianz Life Insurance polices of the Policyholder taken together

If the Policyholder did receive a benefit for accidental permanent partial disability before and the time passedfrom the occurrence of the partial disability is at least one year, the amount payable in the event of accidental

permanent total disability will be the lower one of:

the Sum Assured Rs 50,00,000 under all the Bajaj Allianz Life Insurance polices of the Policyholder taken together

The Policyholder can receive an accidental permanent total disability benefit only once under all the policies of

the Policyholder. The Accidental Permanent Total/Partial Disability benefit shall be payable if the policy is inforce for the full Sum Assured.

The Policyholder has the option to receive the Accidental Permanent Total benefit either as a lump sum or as a

guaranteed annuity for a period 10 years. In case the Policyholder opts for the guaranteed annuity, the amount

payable per year is 11% of the claim amount.

iii) Waiver of Premium Benefit in case of Accidental Permanent Total Disability

The waiver of premium benefit can only be chosen if the issue age of the Policyholder is not less than 18 and not

more than 50 years. If selected, coverage is provided until the age being 65. In the event of accidental

permanent total disability (as described above) the premium for all benefits are waived, and Hospital Cash

Benefit, if included, ceases the full insurance coverage for all benefits remains.

The Waiver Of Premium benefit shall be available if the policy is in force for the full Sum Assured and the

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The coverage is provided until the age being 70 years. The minimum rider Sum Assured is Rs. 50,000 and

maximum can be unlimited, but not more than the base plan Sum Assured. The rider provides for additional

death benefit. If this benefit is selected and provided that the base plan is in force, all the due premiums arepaid up-to-date and the rider cover has not ceased, in case of death of Life Assured under the rider during the

premium payment term of the policy, the company will be liable to pay to the nominee the Supplementary

Death Benefit Sum Assured.

The rider can be chosen at policy inception only. At each policy anniversary, the Policyholder has the option of

exclusion / reduction of the rider Sum Assured. Once the rider cover is excluded/reduced, the same cannot be

included / increased(not even to the extent of the original rider Sum Assured).

c) FAMILY INCOME BENEFIT

The Life Assured for this rider has to be the Life Assured under the base plan; or if the Life Assured under thebase plan is a minor, it can be the Proposer of the base plan.If this benefit is selected, in case of death or accidental total permanent disability of the Life Assured during the

term of the policy, ALL FUTURE PREMIUMS ARE WAIVED and a monthly family income benefit of 1% of

the Sum Assured is payable for a period till the end of the policy term, or for 10 years, whichever is higher ,

subject to the Family Income benefit not running beyond the calculated age of 70 of the Life Assured. However,

this benefit will not be available in the event of accidental permanent total disability happening after age 65 of

the Life Assured.

The Family Income Benefit can only be chosen if the issue age of the Life Assured is not less than 18 and not

more than 50 years.

The Family Income Benefit is available for the premium payment terms (where PPT = Policy term as well as

Limited Premium Payment Term)

Family Income Benefit is payable only if the policy is in force for the full Sum Assured.

d)CRITICAL ILLNESS RIDERa. Minimum Sum Assured: Rs.50,000b. Maximum Sum Assured: Should be equal to Basic Sum Assuredc. Minimum Entry Age: 18 Years last birthdayd. Maximum Entry Age: 50 Years last birthdaye. Maximum Maturity Age: 65 Years last birthday

In case the Policyholder is diagnosed to have a Critical Illness and the policy is in force for the full SumAssured, the company pays Critical Illness benefit equal to the Sum Assured. The policy will continue with all

other benefits excluding Critical Illness benefit and Hospital Cash benefit and the premiums will be payable

accordingly. However, where the Life Assured dies within 60 days from such diagnosis for which Critical

Illness benefit has become payable, the death benefit will be payable after deduction of the Critical Illness

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e) HOSPITAL CASH BENEFIT

The daily Hospital Cash amount shall be at Rs. 4 per Rs. 1000 Sum Assured subject to a minimum Sum Assuredof Rs. 50000 and maximum Sum Assured of Rs. 2,50,000 or the basic Sum Assured, whichever is lower. The

Hospital Cash Benefit will only be offered if the issue age of the Life Assured is not less than 18 (eighteen) and

not more than 50 (fifty) years. Coverage shall be provided until the age being the maturity age or 65(sixty five)

whichever is earlier.

If the insured person has to stay for more than 72 (seventy two) hours in hospital as a result of injury, sickness

or disease, the company reimburses for each full day an amount which is the lower one of:(a) 75 % (seventy five percent) of the room charge in hospital;(b) the daily Hospital Cash amount.

For every period of hospitalisation during a policy year, the first three days would not be paid for. The total

number of days for which Hospital Cash would be payable in a policy year would be restricted to 60 (sixty)

days in a policy year, irrespective of the number of days of hospitalisation. The benefit period starts after a

waiting period of 60 (sixty) days from the commencement of risk or reinstatement of risk.

14. LOAN

Policy loan will be available under the product during the PPT of the policy. The amount of loan will be equal

to 80% of the surrender value available as on the date of loan. The rate of interest applicable on the loan will be

decided by the company from time to time.

Any time during the policy term, if the outstanding loan plus loan interest becomes equal to the surrender

value available under the policy, the Policyholder will be informed about the same with a 30-day notice. If the

full or part of the loan &/or loan interest is not repaid, the policy will be terminated and no benefits under the

policy will be available.

15. NON FORFEITURE

If at least 3 full years premiums are not paid, then:

The policy will immediately lapse at the expiry of the grace period and no benefits under the plan will be

payable

The Policyholder can revive the policy during the revival period of 2 years from the due date of first unpaidpremium, subject to the revival conditions. On expiry of the revival period, the policy will be terminated.

If at least 3 full years premiums are paid in full and subsequent premiums are not paid, then the policy will

be subjected to the following:

a) AUTO COVER


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If death happens during the auto-cover period, the death benefit shall be Sum Assured Plus vested bonusPlus terminal bonus, if any, minus premiums due-but-unpaid along with applicable interest till the date of

death. After premium are adjusted from the death benefit payable (as mentioned above), any compound

reversionary bonus becoming due (because of the revised date of first unpaid premium) will be attached

to the policy and will be payable with the death benefit.

At the end of PPT, even if the policy is in auto-cover, the compound reversionary bonus vested up to thedue date of first unpaid premium will be paid to the Policyholder as survival benefit.

If the cash back period starts before the expiry of the auto-cover period, the auto-cover period will beterminated and the policy will be converted to a paid-up policy, and benefits as per a paid-up policy willbe available.

b) PAID-UP POLICY If the Policyholder fails to restart premiums payment during the auto cover period, the policy shall be

converted to a paid up policy on completion of auto-cover period The Sum Assured will be reduced by a factor equal to the proportion of the number of premiums paid to

the total number of premiums payable. The reduced Sum Assured is called the paid-up Sum Assured.

The vested bonus as on the paid-up date shall remain attached to the policy. A paid-up policy will notaccrue any further bonus. If the policy has not been terminated earlier for any reason, at the end of the

PPT, the vested bonus will be paid to the Policyholder as survival benefit.

During the Cash Back Period, Cash Back Benefit of 5% of the paid-up Sum Assured along with any cashbonus (based on the paid-up Sum Assured) will be paid at the end of each policy year to the Policyholder.

On death during the PPT, the paid-up Sum Assured and vested bonus upto the premium paid-to-date ispaid as death benefit. In a paid-up policy, in case of death during the Cash Back Period, the paid-up Sum

Assured will be paid as death benefit. The policy will terminate after the payment of death benefit.

On the maturity date, the paid-up Sum Assured will be paid and the policy will terminate. If the total paid-up Sum Assured plus the vested bonus under the policy is less than Rs. 1,000/-, then the

policy will be terminated immediately and any residual surrender value will be paid to the Policyholder.

If at least 5 years premiums are paid & subsequent premiums are not paid, after the expiry of the auto-cover

period, the Policyholder can select from the following options:

(i) Continue the policy as a paid-up policy(ii) Opt to convert the policy into a SPTC with ROP provided the outstanding term of the policy is at

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Such revised Sum Assured shall not exceed the original Sum Assured under the policy. The single premium rates for the SPTC with ROP are given in Annexure A. The rates can be revised by the

company at anytime, with the prior approval of the IRDA. Any residual surrender value available after adjusting for the single premium of SPTC with ROP will be

paid-out to the Policyholder immediately.

On such conversion, the maturity date will be reset, if applicable, through an endorsement. On death during the term of the SPTC with ROP, the death benefit will be the revised Sum Assured under

the SPTC with ROP.

On the revised (reset) maturity date, the single premium used for the conversion of the policy to a SPTCwith ROP will be paid as maturity benefit and the policy will terminate.

If the Policyholder fails to choose and communicate to the Company about the option chosen from options (i)

and (ii) above, the default option will be option (i), wherein the policy shall continue as a paid-up policy.

If the policy is lapsed, in auto-cover, paid-up or converted to a SPTC with ROP, any additional rider will

terminate immediately & automatically.

16. GRACE PERIODDuring the first three policy years, if the Policyholder has failed to make payment of the premium by the due

date specified in the schedule, a grace period of one month (not less than 30 days) for premium payment

frequencies other than monthly and 15 days, for monthly frequency is allowed.

If the death of the Life Assured occurs during the grace period, the death benefit shall be payable under the

policy as if the policy was in force for the full Sum Assured, after deduction of the premium due as at that date.

17. REINSTATEMENT/ REVIVAL

A Policy, which has lapsed for non-payment of premium, may be revived subject to the following conditions;

a) The application for revival is made within 2 years from the due date of the first unpaid premium but beforethe maturity date ;

b) Payment of all due premiums along with applicable interest at such rate as the company may decide fromtime to time.

c) Satisfactory evidence of good health, at the Policyholders expense, is submitted;d) The revival of the policy may be on terms different from those applicable to the policy before it got lapsed

depending upon the prevailing underwriting norms of the Company.

e) The Company may at its sole and absolute discretion refuse to revive the Policy.A policy in auto-cover may be revived by paying all the due premiums along with applicable interest.


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d) On foreclosure, if the outstanding loan plus loan interest becomes equal to the surrender value availableunder the policy.

e) On the death of the Life Assured.f) On the Maturity Date.19. BACKDATING

Date of commencement of policy may be backdated up to the beginning of a financial year subject to the

payment of back premiums plus 10% interest. In the case of backdating upto 1 month, the same would be

allowed free of interest.

20. FREE LOOK PERIOD

Within 15 days from the date of receipt of the policy, the Policyholder have the option to review the terms and

condition and return the policy, if he/she disagrees to any of the terms & conditions, stating the reasons for

his/ her objections. He will be entitled to a refund of the premium paid, subject only to a deduction of a

proportionate risk premium for the period on cover and the expenses incurred on medical examination and

stamp duty charges.

21. ASSIGNMENT AND NOMINATION

a) No assignment shall be effective unless and until the Company receives a written notice from thePolicyholder.

b) If the Policyholder and the Life Assured are the same person, the Policyholder may at any time specify inwriting a Nominee to receive the Death Benefit. If the Nominee is a minor, the Policyholder shall also

appoint an Appointee to receive the benefit during the minority of the Nominee. No nomination shall be

effective unless and until evidenced by an endorsement on the Policy.

c) Any assignment shall automatically cancel any nomination.d) The Company assumes no responsibility or liability for the validity of any assignment or nomination or in

recording the assignment or registering the nomination or change in assignment or nomination.

e) Assignment will not be permitted where the Policy is under the Married Womens Property Act 1874.


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7Version 2 Product Development

57 331.49 331.92 332.23 332.44 332.58 332.68 332.74 332.78

58 344.68 345.00 345.22 345.37 345.47 345.53 345.56

59 358.42 358.64 358.80 358.90 358.96 358.99

60 372.66 372.82 372.92 372.98 373.02

61 387.38 387.48 387.55 387.58

62 402.56 402.62 402.66

63 418.18 418.21

64 434.22

AgeTerm of the SPTC with ROP

51 52 53 54 55 56 57 58 59 60

5 61.91 62.71 63.51 64.31 65.12 65.94 66.77 67.61 68.47 69.33

6 62.81 63.62 64.44 65.27 66.11 66.96 67.82 68.70 69.59 70.48

7 63.80 64.64 65.48 66.34 67.21 68.10 69.00 69.91 70.82 71.73

8 64.87 65.74 66.62 67.51 68.42 69.34 70.28 71.21 72.15 73.11

9 66.05 66.95 67.87 68.80 69.75 70.71 71.67 72.63 73.62 74.62

10 67.36 68.30 69.26 70.23 71.22 72.21 73.20 74.21 75.25 76.30

11 68.78 69.76 70.76 71.78 72.79 73.81 74.86 75.92 77.01 78.11

12 70.26 71.29 72.34 73.38 74.43 75.50 76.60 77.72 78.86 80.0013 71.78 72.86 73.94 75.02 76.13 77.26 78.42 79.59 80.77 81.96

14 73.36 74.47 75.58 76.73 77.90 79.09 80.30 81.53 82.75 83.98

15 75.01 76.16 77.34 78.55 79.78 81.04 82.30 83.57 84.84 86.10

16 76.75 77.97 79.22 80.50 81.79 83.10 84.42 85.73 87.04 88.33

17 78.62 79.92 81.24 82.58 83.94 85.30 86.66 88.02 89.35 90.66

18 80.64 82.01 83.40 84.81 86.22 87.64 89.04 90.42 91.78 93.09

19 82.82 84.27 85.72 87.19 88.66 90.11 91.55 92.96 94.32 95.63

20 85.18 86.69 88.21 89.74 91.25 92.74 94.20 95.62 96.98 98.2721 87.71 89.30 90.88 92.45 94.00 95.52 96.99 98.40 99.75 101.02

22 90.45 92.09 93.73 95.34 96.91 98.44 99.91 101.31 102.63 103.86

23 93.39 95.09 96.76 98.40 100.00 101.52 102.98 104.35 105.62 106.79

24 96.55 98.29 100.00 101.65 103.24 104.76 106.18 107.51 108.72 109.81

25 99.93 101.70 103.43 105.08 106.66 108.14 109.52 110.78 111.91 112.91

26 103.54 105.33 107.06 108.70 110.24 111.67 112.98 114.16 115.20 116.09

27 107.38 109.18 110.88 112.49 113.98 115.35 116.58 117.65 118.58 119.37

28 111.46 113.24 114.91 116.47 117.89 119.17 120.29 121.25 122.07 122.75


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Note:

1. The "Term of the SPTC with ROP" will be outstanding term (a whole number rounded down) of the policy on the date ofconversion

2. The sum assured cannot excced the existing sum assured under the policy3. "Age" is the age last birthday as on the date of conversion4. This rate is not guaranteed. It can change due to change in prevailing interest rates, subject to IRDA approval.

29 115.79 117.53 119.14 120.62 121.95 123.12 124.12 124.97 125.68 126.26

30 120.35 122.03 123.57 124.96 126.17 127.21 128.09 128.83 129.44 129.93

31 125.15 126.75 128.20 129.46 130.54 131.46 132.23 132.86 133.36 133.77

32 130.18 131.68 132.99 134.11 135.07 135.87 136.52 137.05 137.47 137.79

33 135.39 136.76 137.93 138.93 139.75 140.44 140.98 141.42 141.76 142.01

34 140.78 142.00 143.03 143.89 144.60 145.17 145.62 145.97 146.24 146.43

35 146.31 147.39 148.29 149.02 149.61 150.08 150.44 150.72 150.92 151.07

36 152.01 152.94 153.70 154.32 154.80 155.18 155.47 155.68 155.83 155.94

37 157.86 158.65 159.29 159.80 160.19 160.49 160.71 160.86 160.98 161.05

38 163.88 164.55 165.07 165.48 165.79 166.01 166.18 166.29 166.37 166.43

39 170.09 170.63 171.06 171.38 171.61 171.78 171.90 171.98 172.04 172.08

40 176.48 176.92 177.25 177.50 177.67 177.80 177.88 177.94 177.98 178.00

41 183.08 183.42 183.67 183.86 183.99 184.08 184.13 184.17 184.1942 189.92 190.18 190.37 190.50 190.59 190.65 190.69 190.72

43 197.05 197.25 197.38 197.48 197.54 197.58 197.61

44 204.50 204.64 204.74 204.81 204.85 204.87

45 212.27 212.37 212.44 212.48 212.51

46 220.37 220.44 220.48 220.51

47 228.80 228.84 228.87

48 237.56 237.59

49 246.66


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Annexure B: Points to be noted: Advance Premium

1. If Advance Premium is paid along with Proposal deposit, the total premium payable i.e. First Years modal Premium Plus advancepremium has to be based on Care Quote Quotation.

2. Advance Premium paid with the Proposal Deposit shall be collected and receipting shall be done for the entire amount i.e. First Yearmodal premium plus advance premium and Premium Receipt will be generated for the entire amount.

3. Any excess amount post issuance of the policy cannot be considered as advance premium.4. Advance Premium will be adjusted on premium payment due date based on the Premium payment frequency.5. Till the time Advance premium is not adjusted towards all due premiums, the inclusion/exclusion of riders as applicable under the

product or any other change cannot be exercised in the policy.6. No refund request of Advance premium will be entertained under any circumstances from the policy holder. The refunds are admissible

only with surrender and death claims when received.


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Annexure C: Rate of Interest declared by the company for Advance Premiums

Financial Year Rate of Interest

(compounded annually)

2010-11 7%

2011-12 7%

Documents

Bajaj Allianz CashRich Insurance Plan_Ver2