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BJAZ-B-0202/2-Aug-10

SECTION 45 of the Insurance Act, 1938 states:

Disclaimer

No Policy of life insurance effected after the coming into force of this Act s hall, 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 t he 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 policy-holder and that

the policy holder knew at the time of making it that the stat ement was false or that it

suppressed facts which it was material to disclose.

This product brochure gives the salient features of the plan only. The policy document

is the conclusive evidence of the contract, and provides in detail all the conditions,

exclusions related to the Bajaj Allianz Group Credit Shield Plan. All Charges

applicable shall be levied.

For More Information: For more details, kindly consult our "Insurance Care

Consultant" or call us today on the numbers mentioned above.

Please draw your cheques/ demand drafts in favour of Bajaj Allianz Life

Insurance Company Limited.

Bajaj Allianz Life Insurance Company Limited

Life

Group

Insurance is the subject matter of the solicitation.

Group Credit ShieldBajaj Allianz Group Credit Shield

Contact DetailsBajaj Allianz Life Insurance Company Limited,G.E. Plaza, Airport Road, Yerawada, Pune - 411 006.Tel: (020) 6602 6777. Fax: (020) 6602 6789.www.bajajallianz.com

SMS LIFE 56070

email: life@bajajallianz.co.in chat: bajajallianzlife.co.in/chat

For any queries please contact:

BSNL/MTNL

(Toll Free)

1800 22 5858

Other(Chargeble)

3030 5858

Any Mobile & Landline(Toll Free)

1800 209 5858

Bajaj Allianz Super Saver (UIN) : 116N058V01

APT/PDB (UIN) : 116B010V01

FIB (UIN) : 116B009V01

In the following cases the Accidental Permanent Total disability

benefit will not be paid:

(a) Disability occurs as a result of the insured person committing

any breach of law

(b) Disability as a result of war, invasion, civil war, rebellion or riots.

(c) Disability as a consequence of the insured person being under

the influence of alcohol or drugs other than in accordance with the

directions of a registered medical practitioner

(d) Disability occurs as a result of the insured person taking part in

any naval, military or air force operation

(e) Disability occurs as a result of the insured person participating

in or training for any dangerous or hazardous sport or competition or

riding or driving in any form of race or competition

(f) Disability occurs as a result of aviation, gliding or any form of

aerial flight other than as a fare paying passenger of a recognised

airline on regular routes and on a scheduled timetable

(g) Disability occurs as a result of attempted self injury whilst sane

or insane

(h) Failure to seek or follow medical advice

Bajaj Allianz Life Insurance Company Limited is a union between Allianz SE,

the world's leading insurer and Bajaj Finserv, one of India's most respected

names. Allianz SE is a leading insurance conglomerate globally and one of the

largest asset mangers in the world. At Bajaj Allianz, we realize that you seek an

insurer you can trust your hard earned money with. Allianz SE has more than

119 years of financial experience in over 70 countries and Bajaj Finserv

demerged from Bajaj Auto, trusted for over 65 years in the Indian market, are

committed to offering you financial solutions that provide all the security you

need for your family and yourself.

At Bajaj Allianz, customer delight is our guiding principle. Ensuring worldclass solutions by offering you customized products with transparent benefits

supported by the best technology is our business philosophy.

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 rebate as may be allowed in accordance

with the published prospectuses or tables of the insurer. Any person making

default in complying with the provision of this section shall be punishable

with a fine that may extend to five hundred rupees.

Why Bajaj Allianz Life Insurance?

Prohibition of Rebate: Section 41 of the Insurance Act, 1938 states:

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Bajaj Credit Shield

What is the Bajaj Credit Shield Scheme?

Who can set-up the Bajaj Allianz Credit Shield Scheme?

What does the Bajaj Allianz Credit Shield Scheme offer?

Allianz

Allianz

Protect your credit card outstanding by providing the care of life

insurance to your client.

! It is a Group Term Insurance Scheme that provides basic insurance

protection to people who have availed of a credit card from an

Institution/Bank.

! The main feature of this plan is to cover the risk of outstanding

balance in the credit card in case of premature demise or

permanent total disability of the primary cardholder.

! Life Insurance Benefit for all members of the Scheme is provided by

one policy document that is issued to the Group Policyholder i.e.

the Institution/Bank.

All banks/Institutions, who issue credit cards and who maintain up-to-

date records of their cardholder members can set up the Allianz Bajaj

Group Credit Shield Scheme.

To the Group Policyholder:

! Provides valuable cover to the Group Policyholder against default of

outstanding balance on the credit card because of untimely death or

accidental permanent total disability.

! Attractive benefit-to-premium ratio.

! Easy to set up and administer.

To the primary cardholder:

On death or accidental total permanent disability of the Group Member/Life

Assured the outstanding credit amount is payable to the master

policyholder. A member can claim Accidental Total Permanent Disability

benefit only once.

Disability as a result of an accident and must be total and permanent, and the

accident must result in one of:

! Loss of both eyes

! Loss of both arms or both hands

! Loss of one arm and one leg

! Loss of one arm and one foot

! Loss of one hand and one foot

Eligibility

Minimum Age at Entry

Maximum Age at Entry

Minimum Group Size

Maximum Life Cover Limit

Condition

18

57

1000

Rs. 1,00,000 for a single cardholder andRs. 2,50,000 under all cards put together

! Loss of one hand and one leg

! Loss of both legs

! Loss of both feet

! Removal of the lower jaw

Disability must occur within 180 days from the date of accident.

The maximum amount of cover would be Rs. 1 lakh for a single cardholder

and Rs. 2.5 Lakhs for multiple cardholders.

! Life Cover is provided under One Year Renewable Group Term

Assurance.

! The premiums are renewable and reviewable on a yearly basis.

! The scheme may be eligible for profit sharing in the form of a

reduction in renewal premium, depending upon the IRDA

regulations and experience of Bajaj Allianz Life Insurance

Company.

The insurability condition is that the member should be a credit

cardholder on the date of entry.

! At the commencement, and thereafter on each annual renewal date,

the Group Policyholder will have to send all the members data to the

respective unit of Bajaj Allianz Life Insurance Company.

! If a member enters the scheme between two annual renewal dates, the

particulars of the same may be submitted by the Group Policyholder on a

monthly basis along with the proportionate premium.

How is Life Cover provided under the Bajaj Allianz Credit Shield Scheme?

What are the eligibility conditions of the Bajaj Allianz Credit Shield

Scheme?

Simple Insurability Conditions:

New Entrants and Leavers:

Premiums:

Normally, the Group Policyholder has to pay the premiums. However, the

premium amount may be charged to the members/loanees.

Premiums will be collected every month by the Group administration as

a percentage of outstanding credit balance at every monthly billing and

remitted to the insurer. The grace period for payment of premiums

would be 30 days.

Premiums to be paid before expiry of one month but not less than 30

days from due date.

Profit sharing is subject to a minimum membership of 1000.

Profit Sharing will involve payment of a specified percentage of the profit

depending on the experience as determined annually. The profit will be

calculated as the excess of premiums over claims and expenses. The

expenses will be 10% of the premium. Losses will be carried forward forupto three years to offset future profits. The share of the group

policyholder will be not exceeding 60% of profit calculated as above.

Loans are not available under this Scheme.

Surrender Values are not available under this Scheme.

Policies may be revived/reinstated within one year of unpaid premium

on terms agreed at time of revi val/reinstatement.

Within 15 days from the date of receipt of the policy, you have the option

to review the terms and conditions and return the policy, if you disagree

to any of the terms & conditions, stating the reasons for y our objections.

You 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.

Premium Payment Mode:

Grace Period:

Profit Sharing:

Loans:

Surrender:

Revivals:

15 days FreeLook Period:

Exclusions: