How to Increase the Market Share of _Bajaj Allianz Life Insurance

7/31/2019 How to Increase the Market Share of _Bajaj Allianz Life Insurance

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ANALYSIS OFBajaj Allianz Life Insurance MARKET SHARE,

At

A Project Report

Submitted to the Mangalmay institute of Management affiliated to

the Mahamaya Technical University, Noida, in partial fulfillment

of the requirements for the award of degree ofMaster of Business Administration

in

Marketing & Finance

Submitted TO Submitted By

Tanzil Ahmad Mr .Sandeep SharmaMBA batch (2010-12) (Faculty Guide)

Roll No.(1015270082)

MANGALMAY INSTITUTE OF MANAGEMEN

&

TECHNOLOGY


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GREATER NOIDA.

ACKNOWLEDGEMENT

The satisfaction and euphoria that accompany the successful competition of

my project work would be incomplete unless I mention the name of some of these

people, an expression of gratitude, whose constant guidance and encouragement

served as beacom of light and crowned my efforts with success .

First, I express my sincere thanks to Mr. Sajan Seth (Senior Area Manager

,Bajaj Allianz ,Lucknow) who gave the opportunity for PROJECT in Lucknow region. I

am also deeply thankful to Mr. Prmanand rodhival (Sales Manager), who has given

me their guidance and showed me the right way to do project in the Bajaj Allianz Life

Insurance and hoped me to accomplished the project.

Last but not least, I would like to thanks all the people and employees of Bajaj

Allianz Life Insurance, my parents and friends who have been directly or indirectly

involved in this project and it is my privilege to express my profound gratitude to our

Director, Mr.Rahul goel (MIMT College of management ,Gr.Noida) ourcourse co-

ordinatorDr. Rajeev jain. Under whom I got opportunity for doing the course of MBA .

TANZIL AHMAD

MBA(3rdSem)


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ROLL-

NO=1015270082

DECLARATION

I hereby certify that the survey, data collection, and analysis, work related to Project

Report on How to increase themarket share of Bajaj Allianz Life Insurance

has been carried out exclusively on my own efforts under the guidance of the

Parmanand Rodhival-Manager(sales) and Report preparation under the guidance of

MIMT College of Management SupervisorDr. Rajeev jain .

TANZIL AHMAD.MIMT College of

Management,

Greater Noida (U.P.)


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EXECUTIVE SUMMARY

This report is based on 2 months training as a part of course curriculum of Master of Business

Administration degree. It has given me an opportunity to apply my theoretical knowledge and

meaningful concept to actual business condition and to get familiar with the marketing

activities of the product (plan).

The topic was How to increase the market share of Bajaj Allianz Life Insurance

inLucknow. The project has been assigned to me for finding the ways and needs to

increase the business of Bajaj Allianz Life Insurance.

The research was conducted by direct survey method in which the responses of the

respondents where recorded in the questionnaire consisting of a set of question

arranged in the sequence.

Finally the outcome of the study has been incorporated with the suggestions. The

finding of the study would provide the company a better insight of the market and help

in designing its future course of action in the prospective of growing competitive and

challenging scenario due to influx of other companies.


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CONTENTS

1. INTRODUCTION

2. OBJECTIVE OF THE STUDY

3. VISION AND VALUE

4. COMPANY PROFILE

5. PRODUCT

5.1 UnitGain Plus Plan

5.2 Swarna Vishranti

5.3 Invest Gain

5.4 Cash gain

5 .5 Unit Gain Life Pension

5.6 Unit Gain

5.7 Lifelong Gain

5.8 Unit Gain SP

6. RESEARCH METHODOLOGY

7. FINDING AND ANALYSIS

8.CONCLUSIONS

9. RECOMMENDATIONS

10. QUESTIONNAIRE

11. BIBLIOGRAPHY


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INTRODUCTION

The project report is partial fulfillment of MASTER OF BUSINESS ADMINISTRATION

course, which is a set in accordance the guidelines of the institution. The main purpose

of such training is to make student familiar with theoretical ideas in the real work place.

Student learns how to develop himself or herself by applying their theoretical views in

the real life. Training is essential to improve skill; to tackle unfamiliar situation; to talk

with difference personalities; thereby to create a good manager. So by completion of

management course, a student can adopt the situation of the concern quickly based on

his learning during training period.

The main idea behind the training is to make the student well acquainted with the work

culture of an organization. The trainees by themselves see the various marketing

activities being followed in the company. The present study deals with the assessment

of different factors which are directly or indirectly can influence the business of Bajaj

Allianz Life Insurance and also the scale of preference by the consumers.

The scope of the study is to see by themselves the areas in which the organization

needs more improvement and to find out the reasons for the popularity of some of the

plans of other companies.

The present study gives comparative ideas that what strategies Bajaj

Allianz Life Insurance uses and its competitors are adopting and to what extent these

tools are influencing the business views and ideas of the public have been taken to

measure the popularity of different companies and with the help of study, the company

may change its marketing strategy.


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OBJECTIVE OF STUDY

The topic of the project is How to increase the market share of Bajaj Allianz Life

Insurance in eastern UP.

The project is undertaken by the management to get the information regarding

the company performance in market and the area in which it needs further

improvement. Moreover to search out the reasons for the customers needs and

preferences.

To find out the factors which are influencing them to sales the insurance plans of

other companies. The purpose of the study is to find how the various factors and the

reasons which can affect the business of Bajaj Allianz Life Insurance.

The focus area of the project was the public by whom we get the information

regarding their needs and preferences. The collection of information through the

questionnaire and analysis is required to plan the strategy of company to increase its

business.


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VISION AND VALUES

Our vision

To be the best insurance co. in India

to buy from,

work for

&

invest in.

OUR VALUES

Our core values :

Customer delight the guiding principle

Ensuring world class solutions & services

Offering customised products


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Transparent benefits

COMPANY PROFILE

ALLIANZ AG

Worlds Largest Insurance co. by revenue Rs 5,20,353 Cr (Euro 96.9 billion)

Worldwide 2nd by Gross Written Premiums Rs 4,77,930 Cr (Euro 89 billion)

3rd largest Assets Under Management (AUM) & largest amongst Insurance cos. -

AUM of Rs 95,94,200 Cr (Euro 1078 billion)

11th

largest corporation in the world

50 % of global business from Life Insurance, close to 60 million lives insured

globally

Established in 1890, 110 yrs of Insurance expertise

More than 70 countries, 173,750 employees worldwide

Insurance to almost half of the Fortune 500 cos.

BAJAJ AUTO


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One of the largest 2 & 3 wheeler manufacturer in the world

21 million+ vehicles on the roads across the globe

Managing funds of over Rs 5,200 cr.

Bajaj Auto finance one of the largest auto finance cos. in India Rs. 5,934 Cr.

Turnover & Profits after tax of 732 Cr. in 2004-5

Bajaj Allianz LIFE INSURANCE

The fastest growing private life insurance company in India, with a growth rate of

380%*

Have sold over 6,50,000 policies to satisfied customers

Is backed by a network of 300 offices spanning the country

Ranked No.2* among private life insurance companies in India

Accelerated Growth

Fiscal Year No of policies GWP in FY2001-2002 (6 mths) 21,376 Rs 7cr.2002-2003 1,15,965 Rs 69cr.2003-2004 1,86,443 Rs 221cr.

2004-2005 2,88,189 Rs 1002cr.

Assets under management Rs 936 cr.

Shareholder capital base of Rs 267 cr.

Bajaj Allianz LIFE INSURANCE


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Product tailored to suit your needs

Decentralised organisation structure for faster response

Wide reach to serve you better a nationwide network of 300 brancnches

Specialised departments for Bancassurance, Corporate Agency and Group

Business

Well networked Customer Care Centers (CCCs) with state of art IT systems

Highest standard of customer service & simplified claims process in the industry

Website to provide all assistance and information on products and services, online

buying and online renewals.

Toll-free number to answer all your queries, accessible from anywhere in the

country Call Now 1600 22 5858 and a strong tele-marketing and Direct marketing

team

Swift and easy claim settlement process

Networked for reach

Strong Branch Network Across 300 cities and growing

Over 3000 Sales Team Managers

50,000+ Insurance Care Consultants

1 TOT, 7 COT & 106 MDRT qualifiers

6,50,000 satisfied customers

Growing reach through tie-ups

Bancassurance

Pioneered the phenomenon in India


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One of our core focus areas - tie-ups with large national & pvt. sector banks :

Standard Chartered Bank Syndicate Bank

Centurion Bank Cosmos Bank Jankalyan Sahakari Bank Jijamata Sahakari Co-op Bank

Expanding reach also through tie-ups with large regional banks

Exclusive life insurance products - MRTA & Credit Shield.

Products customized to suit specific needs of Banks

Alternate channelsThe Strategic Alliances group at Bajaj Allianz focus on 'Group Insurance' and

'Corporate Agency network.

Corporate Agents, Brokers and Franchisees A constantly growing nationwide network of Corporate Agents, Brokers and

Franchisees

A decentralised, dedicated team of professionals to recruit, develop and

support Corporate Agents, Brokers and Franchisees

Group Business A growing product range to meet generic and specific needs of various

groups. Some of them are Group Term Life, Group Gratuity, Group

Superannuation, Group MRTA, GTL in lieu of EDLI, among many others.

A dedicated team to ensure nothing but the best in service delivery

Online Selling and renewals UnitGain plus SP & UnitGain Easy Pension


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Financial Services Consultants

A set of expert financial advisors to address comprehensive financialplanning

Needs of high net worth clients Products designed to suit your needs

Decentralised Operations

- Insure in minutes- Service any whereInsure in minutes at any CCC

CCCs fully empowered to Issue policy end to end ( from collection to issue and prepare policy bond)

IT enabled process geared to insure in few minutes from start to finish

Only pvt insurance co. to do so

Black box Decentralised underwriting

Proprietary IT software for underwriting

Enables us to also decentralise underwriting

Maintains quality with standardization across the country

Eliminates human intervention & subjectiveness

Only pvt. Insurance co. to do so


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Customers from any CCC offered all services at all CCC Policy holder from any CCC

Can get basic policy servicing at any of our CCCs No HO interface

Can pay renewal premium at any CCC or through Billjunction, cheque drop

boxes across the country, credit cards or direct debit for Standard

Chartered customers

PRODUCTS

UnitGain Plus Plan

The thumb rule for buying insurance is that your insurance needs are minimal in your

early earning years, increases with added responsibilities (Marriage, children, loans

etc.) and taper off by the time you retire. It is difficult to find a single insurance plan that


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can take care of all your changing requirements in life - additional protection, more

money to invest, sudden requirement of cash or a steady post-retirement income.

With Bajaj Allianz UnitGain Plus, you can invest in one life insurance plan that

can take care of all your changing requirements throughout your life. This plan has

been designed to provide you with maximum flexibility, so that you do not have to

worry about your changing needs.

Bajaj Allianz UnitCain Plus offers the unique option of combining the protection of

life insurance with the attractive prospects of investing in securities. You can choose

the investment funds you want to invest your money, providing you with an opportunity

to have a direct stake in the performance of the financial markets. You also benefit

from attractive tax advantages and can protect your loved ones against unfortunate

events.

The Bajaj Allianz Unit Gain Plus comes with a host of features to allow you to

have the best of all worlds -

Protection and Investment with flexibility like never before.

Some of the key features of this plan are:

Guaranteed death benefit.

Choice of 5 investment funds with flexible investment management: you can

change funds at any time.

Attractive investment alternative to fixed-interest securities.


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Provision for full/partial withdrawals any time after three full years' premiums are

paid.

Unmatched flexibility - to match your changing needs.

How does the plan work?

The premiums paid are invested in a fund/funds of your choice (depending on the

allocation rate) & units are allocated depending on the price of units for the fund/funds.

The value of your policy is the total value of units that you hold in the fund/funds. The

insurance cover and administration charges are deducted through cancellation of units.

The Fund Management Charge is priced in the unit value.

Minimum Sum Assured = 5 times the annual premium.

Maximum Sum Assured = y times the annual premium where y will be as per the

following table:

Age Group 0 -30 31-35 36-40 41-45 46-55 55-60Y 125 90 60 40 20 15

Benefits available under the plan Death Benefit: In case of unfortunate premature

death the beneficiaries are entitled to the Sum Assured less withdrawals or the price of

units, whichever is higher. If the age of the insured person is less than 7 or above 70,

then the price of units is paid.

Cash withdrawal option: There is no maturity date for this plan. There is no

surrender value available before 3 full years' premiums are paid. Anytime after

payment of 3 full years' premiums, you may withdraw money, depending on your

requirements, through partial or complete surrender of units. In case of partial


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withdrawal, a minimum balance of Rs. 10,000/- across all funds must be maintained,

and the minimum withdrawal amount is Rs. 1000/-.

Premium Apportionment: The policy holder may at any policy anniversary

change the apportionment percentage of his/her premium to the fund he/she wishes to

invest. The premium apportionment to any fund in which the policy holder wishes to

invest must be at least 50/0 of the premium. The Company will reserve the right to

revise the minimum apportionment percentage upon giving written notice of not less

than three months subject to obtaining clearance from the I.R.D.A.

Value of Units: The unit price of each fund will be the unit value calculated daily

on a forward pricing basis.

Market/Fair value of the investments of the fund plus currentassets

less current liabilities and Provisions +/- Transaction Charges

Unit value =---------------------------------------------------------------------------------------------------

Number of outstanding units in the Fund

Investment Options: Bajaj Allianz offers you a choice of 5 funds. You can choose to

invest fully in any one fund or allocate your premiums into the various funds in a

proportion that suits your investment needs. All the funds will be managed by asset

managers of Bajaj Allianz, backed with the rich experience of Allianz AG, one of the

largest asset managers in the world today, managing assets worth more than Euro 989

billion (Rs. 49,84,560 crores).

The five funds offered are as under:

a) Equity Index Fund - The investment objective of this Fund is to provide capital

appreciation through investment in equities. The Plan is expected to match the


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returns given by Nifty Index of the National Stock Exchange. This fund will invest

at least 85% in equities and maximum 15% in debt & cash.

b) Equity Pius Fund - The investment objective of this Fund is to provide capital

appreciation through investment in select equity stocks that have the potential for

high capital appreciation. This fund will invest at least 85% in equities and

maximum 15% in debt & cash instruments.

c) Debt Plus Fund - The investment objective of this Fund is to provide

accumulation of income through investment in high quality fixed income securities

like G-Secs, and corporate debt rates AA and above. This fund will be invested

fully in Debt Instruments & money market instruments.

d) Balanced Plus Fund - This fund is a fund of funds. The investment objective of

this fund is to provide a balanced investment between long-term capital

appreciation and current income through investment in the Units of our Equity and

Debt funds. The balanced fund will invest 30% to 50% in the Equity Index Fund

and 50% to 70% in the debt fund.

e) Cash Plus Fund - The investment objective of this Plan is to have a fund that

guarantees invested capital through investments in liquid money market and short

term instruments like Commercial Papers, Certificate of Deposits, Money Market

Mutual Funds, Bank FDs etc. The price of units in this fund is guaranteed not to

go down.l 00% of this fund will be invested in money market instruments. The

price of the units in this fund is guaranteed never to go down.

The investment advice on the Equity Plus Fund will be provided by DSP Merrill Lynch.

DSP Merrill Lynch Limited (DSPML) is a premier financial services provider and is


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Merrill Lynch's joint venture in India with total funds under management on March

31,2004 of Rs.5127.16 crores. Merrill Lynch is one of the world's leading financial

management and advisory companies, with offices in 35 Countries and total client

assets of approximately USD $1.5 trillion as on December 31,2003. As an investment

bank, it is a leading global underwriter of debt and equity securities and strategic

advisor to corporations, governments, institutions and individuals worldwide. Through

Merrill Lynch Investment Managers, the company is one of the world's largest

managers of financial assets.

DSP ML has been recognized for its expertise in the Indian financial arena by highly

respected independent international agencies: Recently in 2003, The Asset magazine

named DSP ML 'Best Equity House in India' and Asia money magazine voted DSP ML

as the 'Best Domestic Securities House.

Additional Protection for you and your family

You have the option to add the following four additional benefits, providing total

protection against uncertainties.

Accidental Death Benefit

Accidental Permanent Total/Partial Disability Benefit

Critical Illness Benefit (Cl)

Hospital Cash Benefit (HC)

Flexibility in Additional Benefits

At Bajaj Allianz, we believe in offering benefits and not just products. We realize

that you are unique and your needs for insurance vary with time. We therefore offer


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you the flexibility of inclusion of coverage or exclusion of coverage at each policy

anniversary, subject to conditions relating to such inclusions and exclusion.

Accidental Death Benefit and Accidental Permanent Total/Partial Disability Benefit

can be included and excluded at any policy anniversary. Critical Illness Benefit (Cl) and

Hospital Cash Benefit (HC) can be taken at inception only. Cl & HC can be reduced or

excluded subsequently at any policy anniversary. Once reduced or excluded, they

cannot be increased or included subsequently. However, if the life assured is less than

18 at inception of the policy, he/she can select Cl and HC on attaining age 18.

Important Details of the "Bajaj Allianz UnitGain Plus" Plan

Minimum Age at Entry: 0 (Risk commences at age 7, and ceases after age 70)

Maximum Age at Entry: 60

The minimum age at entry for all additional benefits is 18 years.

The maximum age at entry for all additional benefits is 50 years.

All additional benefits are available till age 65.

Premium Payment Mode

For your convenience, we have provided 3 regular premium payment modes that

can be Yearly, Half-Yearly, and Quarterly. We also offer a monthly premium payment

mode with salary deduction schemes. In addition, you also have the option to pay top-

ups to increase your investments. The minimum premium is Rs. 15.000/- for the

Annual Mode, Rs. 7.500/- for Half Yearly, Rs. 3750/- for Quarterly, and Rs. 1.500/- for

the Monthly Mode. The minimum top-up premium is Rs. 5.000/-.


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Partial and Full Withdrawals

UnitCain Plus offers you the full flexibility of full as well as partial withdrawals by

surrendering units, anytime after 3 full years' premiums are paid. The surrenders are

paid out at the value of units, and there is no surrender penalty on partial or full

withdrawals after full 3 years' premiums are paid.

Free Look Period

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 your objections. You will be entitled to a

refund, which will be the lower of:

a) The Premium paid less the Insurer's costs of issuing the Policy and the Policy

Documents (including but not limited to stamp fee charges and any expenses

incurred for medical examination), or

b) The Value of Units, less the Insurer's costs of issuing the Policy and the Policy

Documents (including but not limited to stamp fee charges and any expenses incurred

for medical examination).

Days of Grace

Before the payment of full 3 years' premiums, premiums must be paid when due

to keep the policy in-force. Till such time the company receives 3 full years' premiums

(including top-up premiums), 30 days of grace period will be allowed for the yearly, half

yearly and quarterly modes and 15 days of grace will be allowed for the monthly mode.

Termination of the Policy

The policy will terminate on occurrence of any of the following:


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a) The units in the policy are fully surrendered.

b) The account value becomes Rs 1OO/- or less.

c) The account value is not sufficient to support the Cost of Insurance deductions for

a period of three months.

d) The death of the Life Assured.

Revival of the Policy

It is possible to revive a policy that has lapsed due to non-payment of premiums

or exhaustion of units within 5 years from such date of lapse. You have to give a

written application to the company to revive the policy with only one full installment

premium. The revival will effected subject to underwriting.

Tax Benefits

Death Benefit is tax-free.

Withdrawals (partial or full) are tax free under Section 10(10) D of the Income Tax

Act, if the premiums paid (including top-ups) in any year does not exceed 20% of the

Sum Assured. Premiums paid are eligible for tax relief under Sec.88 of IT Act, if the

premiums paid (including top-ups) in any year does not exceed 20% of the Sum

Assured. Value of Units cancelled for Critical Illness and Hospital Cash Benefit is

eligible for tax relief under Section 80(D). In case of change in any tax laws relevant to

the policyholder or the fund performance, the same will be applied as per regulations

prevailing at that point of time.


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Nomination

You can nominate your beneficiaries under this policy. In case of an insured event

occurring, the policy proceeds will be given to the nominee. You can also change the

nominee during the lifetime of the policy.

General Exclusion

In case the life assured commits suicide within one year of the date of

commencement/reinstatement of the policy, the amount payable would be the value of

units in the policyholder's account.

Charges Under the Plan

Given below are the details of the various charges that will be recovered from the plan

to meet expenses:

Fund Administration Charge: Annual administrative charges would be Rs. 20

per month per policy starting at current financial year (charged monthly through

cancellation of units) escalating at 5% per annum at the end of each financial

year.

Fund Management Charge: Annual investment charge would be charged on net

assets and would be as follows: Equity Plus Fund 1.5% p.a., Equity Index Fund

1% p.a., Balanced Plus Fund no specific charges, Debt Plus Fund 0.7% p.a.,

Cash Plus Fund 0.7% p.a.

Transaction Charge: The transaction charge will be 0.5% but not exceed 0.7%

of the equity investment. The transaction charge will be 0.1% but not exceed

0.2% of the debt investments.


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Switching Charges: Three free switches would be allowed every year.

Subsequent switches would be charged @ 1% of switch amount or Rs. 100,

whichever is higher.

Allocation: A portion of the premium paid will be charged towards expenses in

the initial years. Accordingly, the allocation to your fund will be 76% in year 1,97%

from year 2 onwards. Top ups are allocated with 98%.

Revision of charges

After taking due approval from the Insurance Regulatory and Development

Authority, the company reserves the right to change the following charges:

The Company reserves the right to change the Fund Management charge at any

time with prior approval from the Insurance Regulatory and Development

Authority up to a maximum of 1.75% per annum of the net assets for the Equity

Plus Fund, 1.25% for the Debt Plus and Cash Plus funds and 1.5% for the Equity

Index Fund.

If the Proposer/Life Assured does not agree with the modified charges, he/she will

be allowed to exit the plan at the prevailing price of units.

Risks of Investment in the Units of the Plan:

The Proposer/Life Assured is aware that the investment in the Units is subject to

the following, amongst

other risks and agrees that he is making the investment in the Units with full knowledge

of the same.

1) Bajaj Allianz UnitGain Plus is only the name of the policy and does not in any way

indicate the quality of the policy, its future prospects or returns.


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2) Equity Index Fund, Equity Plus Fund, Balanced Plus Fund, Debt Plus Fund and

Cash Plus Fund are the names of the funds offered currently with Bajaj Allianz

UnitGain Plus, and in any manner does not indicate the quality of the respective

funds, their future prospects or returns.

3) The investments in the Units are subject to market and other risks and there can

be no assurance that the objectivities of any of the funds will be achieved.

4) The price of units of each fund (except the Cash Plus Fund, where the unit

prices are guaranteed not to go down) can go up or down depending on the

factors and forces affecting the financial and debt markets from time to time and may

also be affected by changes in the general level of interest rates.

5) The Equity Index, Equity Plus, Debt Plus, and Balanced Plus funds do not offer a

guaranteed or assured return.

6) All benefits payable under the Policy are subject to the tax laws and other

financial enactments, as they exist from time to time.


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Swarna Vishranti

You have been working hard. You're going to retire one day. How do you see your

retirement? Traveling? Golfing? Turning a hobby into a second career or volunteering

for a noble cause or simply spending more time with your family. In retirement, how

you choose to spend your time is now up to you. It's also up to you to ensure your

retirement income lasts as long as you do. The decisions you make about your money

today should be flexible enough to accommodate your changing needs. Taking charge

of your retirement begins with Allianz Bajaj Swarna Vishranti, a plan that ensures that

your olden years are your golden years.

The "Allianz Bajaj Swarna Vishranti" Plan

With Allianz Bajaj Swarna Vishranti, you can take control of your future and

ensure a retirement you can look forward to. This plan helps you to prudently plan for

your retirement today, so that you don't have to worry about inflation, declining interest

rates and rising medical bills in the future as also ensures the financial security of your

family. The annuity payable under this plan will ensure that your earnings never stop

during your lifetime. Packed with a host of innovative features and with flexibility like

never before, your search for the perfect pension plan ends here. With Allianz Bajaj

Swarna Vishranti, you have the option to choose the following additional benefits:

a) Family Income Benefit


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You can select the unique Family Income Benefit from Allianz Bajaj that ensures

total financial protection for your loved ones. In case of death or accidental total

permanent disability, a guaranteed monthly income of 1% of the sum assured (12%

per annum) is paid till the vesting date or at least for a period of 10 years, whichever is

higher. Moreover, all future premiums are waived. This unique regular income benefit

can act as an important supplement to the pension available to the spouse in case of

death.

b) Comprehensive Accident Protection

This benefit provides comprehensive cover in case of an accident. It comprises

of:


Accidents are always sudden and sometimes fatal. You can't lessen the

emotional shock but you can certainly soften the financial one. Allianz Bajaj Accidental

Death Benefit gives the loved ones something to start with after the permanent loss of

income by paying an amount equal to the Sum Assured. (Subject to a maximum of Rs.

50,00,000/- under all policies with Allianz Bajaj taken together).


Accidents are unpredictable and so are the consequences. They may lead to a

disability - partial or total. This benefit provides a financial cushion against such

misfortunes. One will get 50% of the Sum Assured in case of partial disability and

100% in case of total disability. (Subject to a maximum of Rs. 25,00,000/- for partial


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and Rs. 50,00,000/- for total disability under all policies with Allianz Bajaj taken

together).

Waiver of Premium Benefit

An accident may lead to permanent total disability, limiting one's ability to earn.

Allianz .Bajaj Waiver of Premium Benefit is a helping hand when one needs it most. It

waives off all future premiums while keeping the valuable life insurance cover alive,

thus enabling you to live up to your commitments.

c) Term Cover - Additional Protection for your family

You have the option to include a Term Cover in your policy, which will provide an

additional life insurance protection at a nominal cost. This also ensures that the

pension available to spouse is further supplemented.

d) Critical Illness Benefit

Some illnesses are critical. They not only alter your life's pattern but also result in

a financial drain. Allianz Bajaj Critical Illness Benefit softens the impact on the family

by paying out the Critical Illness Benefit under the plan immediately, while other policy

benefits continue (excluding Hospital Cash Benefit). We cover 11 critical illnesses. You

have the flexibility of choosing Critical Illness cover up to the basic Sum Assured

selected by you (Minimum Rs. 50, 000).

e) Hospital Cash Benefit

The worry of settling hospital bills (room charges) adds to the trauma of

hospitalization. Allianz Bajaj Hospital Cash Benefit reduces this financial burden and

helps recovery with peace of mind.


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What are the benefits of Allianz Bajaj Swarna Vishranti?

The plan works in two parts - the deferment period and the annuity period. During

the deferment period, the plan provides valuable life cover and builds up the funds

required to purchase the immediate annuity. The deferment period ends at the vesting

date. You are free to choose your age of retirement (vesting date) between 45 and 70

years.

Since the Allianz Bajaj Swarna Vishranti plan participates in the profits of the

company, the Sum Assured grows with time through the bonuses declared by the

company.

The benefits on Vesting Date (the date you choose to retire)

1. The Sum Assured along with all accrued bonuses will be used to purchase an

immediate annuity. The immediate annuity will be purchased at rates prevailing at

that point of time.

2. Option to take lump sum: You have the option to take up to 33% of Sum

Assured plus accrued bonuses on the vesting date as a lump sum. This amount

would be tax free in your hand, as per current tax laws. The balance amount will

be used to purchase an immediate annuity.

3. Open Market Option: You have the option to purchase an immediate annuity

from Allianz Bajaj or from any other company. If the immediate annuity is

purchased from Allianz Bajaj, the amount available for purchase of the annuity will

be marked up by 2%. At present, we offer our immediate annuity plan for life,

Swarna Raksha, tied to this plan.


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4. The minimum instalment of annuity from Allianz Bajaj is Rs. 1000/-. The annuity

mode may be changed to make each instalment more than the minimum

requirement. If it is still below the minimum, the Sum Assured + Accrued Bonuses

would be paid .

Added Assurance - for your family

In the unfortunate event of death during the deferment period, your spouse will

have the option to take the Sum Assured plus accrued bonuses as a lump sum or

purchase an annuity to get regular income for life. For the immediate annuity, your

spouse will have the Open Market Option as well. Allianz Bajaj immediate annuity, with

a mark up of 2% will be available only if the spouse is above 45 years of age. In all

ages lower than 45, the Sum Assured + Accrued bonuses would be paid out.

Flexibility in Coverage

At Allianz Bajaj, we believe in offering benefits and not just products. We realize

that you are unique and your needs for insurance vary with time. We therefore offer

you the flexibility of inclusion of coverage or exclusion of coverage at each policy

anniversary till the vesting date, subject to conditions relating to such inclusions and

exclusion. "Comprehensive Accident Protection" can be included and excluded at each

policy anniversary.

Criteria Minimum Maximum

Age at Entry 18 65Term 5 40

Age at vesting 45 70

Sum Assured 50000 No limit

Minimum Premium: Rs. 5000 for Yearly, Rs. 2500 for Half Yearly, Rs. 1250 for

quarterly, and Rs. 500 for monthly.


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(Monthly mode is available under salary savings scheme only).

The maximum age at entry for all additional benefits is 50 years.

More value for money - our attractive High Sum Assured Rebate

Allianz Bajaj offers an attractive premium discount structure, where you can have

a discount of at least Rs. 74/- on the annual premium for every additional Rs. 10000

Sum Assured purchased over and above the minimum Sum Assured of Rs. 50000. For

example, as per tabular premium rates, the annual premium for a 30 year old male for

a 30 year policy of Rs. 5 lakh Sum Assured comes to Rs. 12935/- before the High Sum

Assured Rebate. After the high sum assured rebate, the premium is Rs. 9605/- only.


For your convenience we have provided 3 Premium Payment Modes that can be

Yearly, Half yearly or Quarterly. The Monthly Mode is available under salary deduction

schemes.

Advantage Women

There will be a premium discount for female policy holders in the package. Basic

premium payable will be equivalent to the premium for a two year younger male policy

holder for the base policy only.

Tax Benefits as per current tax laws

The policy will be eligible for tax benefits under Section 80 CCC (1) of the Income

Tax Act as of now. The option to take up to 33% of the amount available as lump sum

is tax free, as of now. The premiums charged for the Critical Illness Benefit and the


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Hospital Cash benefit will be eligible for Tax Exemption under Section 80 (D) of the

Income Tax Act as of now.

Surrender

While we do not encourage surrender of a policy as it breaks your security cover,

we realize the importance of availability of cash at a short notice in some emergencies.

Therefore, we provide you with a choice of surrendering the policy, provided 3 full

years' premiums have been duly paid. The guaranteed minimum surrender value will

be 30% of premiums paid excluding the first year premiums and the premiums for all

additional benefits.

Fund Access - Loans

Loans are not available under this Plan.

Change of Occupation

On change of occupation, depending upon the nature of the new occupation, the

premiums and benefit with respect to the Critical Illness and Hospital Cash may be

modified.

General Exclusion


commencement of the policy, the benefits of the plan would not be payable, and the

premiums would be refunded.

15 days Free Look Period:




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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.

Invest Gain

It takes only a moment to make promises and a lifetime to keep them. Keeping

promises made to your loved ones is not just a responsibility, but a commitment that

you have to live up to. When you promise to see your family through thick and thin you

need to make sure that you have planned for all the eventualities that may befall on

them. You need to be prepared that even if there ever is an instance that you are not

there with them, you have saved enough to see them through their entire life. We

understand this need, which is why we have developed Bajaj Allianz's InvestGain, the

plan that helps you in saying "My family, may you always be happy!"

The "Bajaj Allianz InvestGain" Plan

Bajaj Allianz InvestGain is a specially designed plan that offers a unique

combination of benefits to help you develop a sound financial portfolio for your family.

Among the many unique benefits, the most significant is the Family Income Benefit


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(FIB) that sustains the family by compensating the loss of income due to death or

permanent disability. This is a one-stop shop solution that can keep you and your

family financially protected at times when you need it most. In a financial world where

choices can drive you crazy, your search for the perfect life insurance plan stops here.

Available as:

Bajaj Allianz InvestGain Economy: The basic package

Bajaj Allianz InvestGain Gold: With double protection

Bajaj Allianz InvestGain Diamond: With triple protection

Bajaj Allianz InvestGain Platinum: With quadruple protection

All these packages participate in the profits of the company by way of bonuses, and

therefore, grow with time.

The Ultimate Protection - For Your Loved Ones

You can select the unique Family Income Benefit from Bajaj Allianz that ensures

total financial protection for your loved ones. In case of death or accidental total

permanent disability, a guaranteed monthly income of 1% of the sum assured (12%

per annum) is paid till the end of the policy term or at least for a period of 10 years,

whichever is higher. Moreover, all future premiums are waived.


You have the option to add the following additional benefits, providing total protection

against uncertainties.

a) Family Income Benefit (FIB) - as already described.


This benefit provides comprehensive cover in case of an accident. It comprises of:


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emotional shock, but you can certainly soften the financial one. Bajaj Allianz Accidental


income by paying an amount equal to the Sum Assured, (subject to a maximum of Rs.

50,00,000/- under all policies with Bajaj Allianz taken together).


Accidents are unpredictable, and so are the consequences. They may lead to a

disability - partial or total. This Benefit provides a financial cushion against such

misfortunes. You will get 50% of the Sum Assured in case of partial disability and

100% in case of total disability, (subject to a maximum of Rs. 25,00,000/- for partial

and Rs. 50,00,000/- for total disability under all policies with Bajaj Allianz taken

together).

Waiver of Premium Benefit


Bajaj Allianz Waiver of Premium benefit is a helping hand when one needs it most. It

waives off all future premiums while keeping the valuable life insurance cover alive,

thus enabling you to live up to your commitments.

c) Critical Illness Benefit (Cl)

Some illnesses are critical. They not only alter one's life's pattern but also result in

a financial drain. Bajaj Allianz Critical Illness Benefit softens the impact on the family

by paying out the Critical Illness Benefit under the plan immediately, while other policy

benefits continue (excluding Hospital Cash Benefit). We cover 11 Critical Illnesses.


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You have the flexibility of choosing Critical Illness cover up to the basic Sum Assured

selected by you (Minimum Rs. 50,000).

d) Hospital Cash Benefit (HQ)


hospitalization. Bajaj Allianz Hospital Cash Benefit reduces this financial burden and


Increase in risk coverage

Every added responsibility in your life calls for increase in your risk cover. We

provide you the option to increase coverage up to 50% of the basic Sum Assured on

each of the following happy moments in your life

your marriage

the birth of your first child

the birth of your second child

This additional coverage is not subject to underwriting

Important details of trie "Bajaj Allianz InvestGam" Plan.

Conditions InvestGain Economy InvestGain Gold/

Diamond/Platinum/ Any

additional benefit

Minimum Age at Entry 0 (Risk Commences at

age 7)

18

Maximum Age at Entry 65 50

Maximum Age at

Maturity

70 70

Minimum Term 5 years

Maximum Term 40 years


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Minimum Sum

Assured

Rs. 50000

Maximum Sum

Assured

No Limit

Minimum Premium Rs, 5000 for Yearly, Rs. 2500 for Half Yearly, Rs.

2000 for quarterly, and Rs. 700 for monthly.

Premium Payment

term

Equal to the policy term or limited as per the

table given

Monthly mode is available under salary savings scheme only.


Bajaj Allianz offers an attractive premium discount structure, where you can have a

discount of at least Rs. 84* on the annual premium for every additional Rs. 10,000

Sum Assured purchased over and above the minimum Sum Assured of Rs. 50,000.

For example, as per tabular premium rates, the annual premium for a 30 year old male

for a 30 year policy of Rs. 5 lakh Sum Assured comes to Rs. 16,050/- before the High

Sum Assured Rebate. After the high sum assured rebate, the premium is Rs. 12,27Q/-

only.

(*For shorter premium payment terms, the discount is even higher - Rs. 200 for the 2

year term, Rs. 150 for 3 year term and Rs. 100 for 5 and 7 year terms)


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Limited Premium Payment Terms - For your Convenience

You do not have to pay premiums for the full term of the policy. We provide you

with a range of limited premium payment terms for you to finish obligations as fast as

possible and enjoy the benefits of life cover without any worry thereafter.

Advantage Women

There will be a premium discount for female policyholders in the package. Basic

premium payable will be equivalent to the premium for a two-year younger male

policyholder for the base policy only.

Tax Benefits as per current tax laws

Premiums paid are eligible for Tax Exemption under Section 88 of the Income

Tax Act. Maturity and death proceeds are Tax Free under Section 10(100) of the

Income Tax Act. The premiums for the Critical Illness Benefit and the Hospital Cash

Benefit will be eligible for Tax Exemption under Section 80 (D) of the Income Tax Act.

Surrender



Therefore, we provide you with a choice of surrendering the policy. The guaranteed

minimum surrender value will be as follows:

Premium

Term

Surrender

Value after

Guaranteed Surrender Value

2-3 years 1 year from

commencement

60% of the premiums excluding

premiums for additional benefits and


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extra premiums.

5-6 years 2 full years

premium

payment

30% of premiums excluding first

year premium and the premium for

additional benefits and extra

premiums.

7 and above 3 full years

premium

payment

30% of premiums excluding the first

year premium and the premium for

additional benefits and the extra

premiums.

Fund Access - Loans

You can avail of loans under your policy provided the policy has acquired a

surrender value. The loan amount shall be within 90% of the surrender value.




modified.

General Exclusion

In case the life assured commits suicide within one year of the date of commencement

of the policy, the benefits of the plan would not be payable, and the premiums would

be refunded.


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15 days FreeLook Period:

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 your 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.

Cash Gain

At the back of our minds we are often nagged by certain fears, the fears of an

uncertain future, the insecurity of not being able to provide adequately for our loved

ones, the fear of not being able to save enough. Life Insurance is the only complete

answer to these fears. It is life insurance that provides you with the security of a

financial safety net and enables you to plan for unpredictable adversities. Happiness

often sneaks in through a door you didn't know you left open. Let life insurance be that

door for you.


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The Bajaj Allianz CashGain Plan

Your needs for insurance protection will vary at different stages of life.

Sometimes, you may need to release a part of your savings from insurance

commitments and utilize it for other pressing needs. The Bajaj Allianz CashGain is

ideal for those who want to reap and enjoy the benefits of their life insurance policy at

regular intervals during their lifetime.

Bajaj Allianz CashCain is a specially designed plan that offers a host of additional

benefits you may choose to develop a sound financial portfolio for your family. Among

the many unique benefits, the most significant is the Family Income Benefit (FIB) that

sustains the family by compensating the loss of regular income due to death or

permanent disability.

Available as:

Bajaj Allianz CashGain Economy: The basic package.

Bajaj Allianz CashGain Gold : With double protection.

Bajaj Allianz CashGain Diamond : With triple protection.

Bajaj Allianz CashGain Platinum : With quadruple protection

How does Bajaj Allianz CashGain work?

This plan pays out a guaranteed amount on survival at the end of every 1/5th of

the policy term selected. A total of 75% of the Sum Assured is paid out in the first 4

Cash Benefits. On maturity, 50% of the Sum Assured is paid along with accrued

bonuses. Hence the Total Cash/Survival Benefit distributed under this plan comes to

more than 100% of the Sum Assured - in fact 125% of the Sum Assured.


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1st Cash

Benefit

2nd Cash

Benefit

3rd Cash

Benefit

4th Cash

BenefitOn Maturity

10% of

Sum

Assured

1 5% of

Sum

Assured

25% of

Sum

Assured

25% of

Sum

Assured

50% of Sum

Assured +

Accrued Bonuses

The benefits will further increase by way of Accrued Bonuses that are distributed

at maturity or on death, if earlier. In case of maturity or death after 15 full policy years,

the company may pay an additional terminal bonus for in-force policies.

A Uniform Life Cover

Besides giving you regular Cash Benefits, this plan takes care of your life

insurance needs also. On death during the term of policy, the following would be paid

irrespective of the Cash Benefits already paid:

Bajaj Allianz CashGain Economy : Sum Assured + Bonuses

Bajaj Allianz CashGain Gold : Double Sum Assured + Bonuses

Bajaj Allianz CashGain Diamond : Triple Sum Assured + Bonuses

Bajaj Allianz CashGain Platinum : Quadruple Sum Assured + Bonuses

Choice of Terms

Keeping your convenience in mind, we offer you the widest range of terms: 15,20,

25 and 30 years.

The availability of Cash Benefits will be as under:

No. of years at the end of which Cash Benefit Becomes Due

Term 1st Cash

Benefit

2nd Cash

Benefit

3rd

CashBenefit

4th Cash

Benefit

Maturity

Benefit

15 3 6 9 12 15


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20 4 8 12 16 20

25 5 10 15 20 25

30 6 12 18 24 30


You have the option to add the following additional benefits, providing total


a) Family Income Benefit (FIB) - The Ultimate Protection - For Your Loved Ones

You can select the unique Family Income Benefit from Bajaj Allianz that

ensures total financial protection for your loved ones. In case of death or accidental

total permanent disability, a guaranteed monthly income of 1% of the sum assured

(12% per annum) is paid till the end of the policy term or at least for a period of 10

years, whichever is higher. Moreover, all future premiums are waived.


This benefit provides comprehensive cover in case of an accident. It comprises

of:



emotional shock, but you can certainly soften the financial one. Bajaj Allianz Accidental


income by paying an amount equal to the Sum Assured, (subject to a maximum of Rs.

50,00,000/- under all policies with Bajaj Allianz taken together.).

Accidental Permanent /Partial Disability Benefit

Accidents are unpredictable, and so are the consequences. They may lead to a

disability - partial or total. This Benefit provides a financial cushion against such


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misfortunes. You will get 50% of the Sum Assured in case of partial disability and

100% in case of total disability, (subject to a maximum of Rs. 25,00,000/- for partial

and Rs. 50,00,000/- for total disability under all policies with Bajaj Allianz taken

together.)


Bajaj Allianz Waiver of Premium benefit is a helping hand when one needs it most.

It waives off all future premiums while keeping the valuable life insurance cover alive,

thus enabling you to live up to your commitments

c) Critical Illness Benefit (Cl)

Some illnesses are critical. They not only alter one's life's pattern but also

result in a financial drain. Bajaj Allianz Critical Illness Benefit softens the impact on the

family by paying out the Critical Illness Benefit under the plan immediately, while other

policy benefits continue (excluding Hospital Cash Benefit). We cover 11 critical

illnesses. You have the flexibility of choosing Critical Illness cover up to the basic Sum

Assured selected by you (Minimum Rs.50,000).

d) Hospital Cash Benefit (HC)


hospitalization. Bajaj Allianz Hospital Cash Benefit reduces this financial burden and



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Increase in risk coverage

Every added responsibility in your life calls for increase in your risk cover. We

provide you the option to increase coverage up to 50% of the basic Sum Assured on

each of the following happy moments in your life:

Your marriage

The birth of your first child

The birth of your second child

This additional coverage is not subject to underwriting. The option should be

exercised within 90 days of the occurrence of the said event.

Important details of the Bajaj Allianz CashGain

Term

Cash Gain Economy 15

years 20 years 25 years

30 years

CashGainCold/Platinum/Dia

mond 15/20/25/30 years

Minimum Sum Assured 5000

0

5000

0

5000

0

50000 50000


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Maximum Sum

Assured

No

Limit

No

Limit

No

Limit

No

Limit

No Limit

Minimum Age at Entry 15 14 13 12 18

Maximum Age at Entry 55 50 45 40 50 (subject to maximum age

at maturity being 70)

Maximum Age at

Maturity

70 70 70 70 70

Minimum Age at entry

for Additional benefits

18 18 18 18 18

Maximum Age at entry

for Additional Benefits

50 50 50 50 50 (subject to maximum age

at maturity being 70)

Minimum Premium: Rs. 5000/- for Yearly, Rs. 2500/- for Half Yearly, Rs.

2000/- for Quarterly and Rs. 700/- for monthly (by salary deduction only).


For your convenience, we have provided 3 premium payment modes that can be

Yearly, Half-Yearly and Quarterly. We also offer a monthly premium payment mode

with salary deduction schemes. The premium for frequencies other than yearly mode is

the annual premium multiplied with the frequency factor (0.51 for the half yearly mode,

0.26 for the quarterly mode, and 0.09 for the monthly mode).


Bajaj Allianz offers an attractive premium discount structure, where you can have

a discount of at least Rs. 96 for every Rs. 10000 of Sum Assured purchased over and


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above the minimum Sum Assured of Rs. 50000. For example, as per tabular premium

rates, the annual premium for a 30 year old male for a 30 year policy of Rs. 5 lacks

Sum Assured for CashCain Economy comes to Rs. 26,320/- before the High Sum

Assured Rebate. After the high sum assured rebate, the premium is Rs. 22.000/- only.

Advantage Women

There will be a premium discount for female policyholders in the package. Basic

premium payable will be equivalent to the premium for a two-year younger male

policyholder for the base policy only.

Tax Benefits

Premiums paid are eligible for Tax Exemption under Section 88 of the Income

Tax Act. The periodic Cash benefits, maturity and death proceeds are Tax Free under

Section 10(100) of the Income Tax Act. The-premiums for the Critical Illness Benefit

and the Hospital Cash Benefit will be eligible for Tax Exemption under Section 80 (D)

of the Income Tax Act.

Surrender



Therefore, we provide you with a choice of surrendering the policy. The guaranteed

minimum surrender value in case of surrender before the first survival benefit is 30% of

all premiums paid excluding the first year premium and the premiums for all additional

benefits. The guaranteed minimum surrender value in case of surrender after the first

survival benefit is 30/o of all premiums paid after receiving the latest survival benefit

excluding the premiums for all additional benefits.


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Loans

Loans are not available under this plan.




modified.

General Exclusion


commencement/reinstatement of the policy, the benefits of the plan would not be

payable, and the premiums paid would be refunded.

15 days FreeLook Period:


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


refund of the premium paid,.

Unit Gain Life Pension

You have been working hard. You're going to retire one day. How do you see

your retirement? Traveling? Coifing? Turning a hobby into a second career or

volunteering for a noble cause or simply spending more time with your family. In

retirement, how you choose to spend your time is now up to you. Its also up to you to

ensure your retirement income lasts as long as you do. The decisions you make about


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your money today should be flexible enough to accommodate your changing needs.

Taking charge of your retirement begins with Bajaj Allianz UnitCain Life Pension, a

plan that ensures that your olden years are your golden years.

The "Bajaj Allianz UnitCain Life Pension" Plan

With Bajaj Allianz, you can take control of your future and ensure a retirement you

can look forward to. This plan has been designed to take care of your retirement and

insurance needs, thereby providing you with a comprehensive solution for a lifetime.

There are two packages to choose from:

UnitCain Life Pension Regular Premium

UnitGain Life Pension Single Premium

Depending on the amount of premium you want to pay, you.' can choose a Sum

Assured as per the conditions given below:

Minimum Sum Assured = 5 times the annual/1.01 times single premium.

Maximum Sum Assured = y times the annual/single premium where y will be as

per the following table:


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What are the benefits available?

The plan works in two parts - the deferment period and the annuity period. During

the deferment period, the plan provides valuable life cover and builds up the funds

required to purchase the immediate annuity. The deferment period ends at the vesting

date. You are free to choose your age of retirement (vesting date) between 45 and 70

years.

AgeCroup 18-30 31-35 36-40 41-45 46-55 55-

60 61-65

Y for regular

Premium

125 90 60 40 20 15 10

Y for regular

Premium

45 35 20 10 5 5 1.5


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The benefits on Vesting Date (the date you choose to retire)

1. The Account Value as on the vesting date will be used to purchase an immediate

annuity. The immediate annuity will be purchased at rates prevailing at that point of

time.

2. Option to take lump sum: You have the option to take up to l/3rd of the account

value on the vesting date as a lump sum. This amount would be tax free in your

hand, as per current tax laws. The balance amount will be used to purchase an

immediate annuity.

3. Open Market Option: You have the option to purchase an immediate annuity from

Bajaj Allianz or from any other company. If the immediate annuity is purchased

from Bajaj Allianz, the amount available for purchase of the annuity will be marked

up by 2%.

4. The minimum installment of annuity from Bajaj Allianz is Rs. 1000/-. The annuity

frequency may be changed to make each installment more than the minimum

requirement. If it still below the minimum, the Account Value may be utilized to

purchase an immediate annuity from any other company in the open market as per

your choice, or paid in lump sum, if permissible, subject to prevailing tax laws.

Assurance - for your family

In the unfortunate event of death during the deferment period, your spouse will

get the greater of the Sum Assured or the Account Value. She will have the option to

take it as a lump sum or purchase an annuity to get regular income for life. For the

immediate annuity, your spouse will have the Open


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Market Option as well. The immediate annuity from Bajaj Allianz will be available

only if the spouse is above 45. If age were below 45, the amount would be paid out as

a lump sum.

Annuity Options

You will be able to choose from all annuity products offered by Bajaj Allianz Life

Insurance at the vesting date. The annuity products currently available are:

a) Annuity for Life

b) Annuity for Life with 5,10 or 15 years certain payout

c) Annuity for Life with Return of Capital

You also have the open market option to purchase immediate annuity.

How does the "Bajaj Allianz UnitGain Life Pension" Plan work?




insurance cover and administration charges are deducted through cancellation of units.

The Fund Management Charge is priced in the unit value.

Value of Units: The unit price of each fund will be the unit value calculated

according to the following formula:

Market/Fair value of the investments of the fund plus currentassets less current liabilities and Provisions +/- TransactionCharges

Unit Value =--------------------------------------------------------------------------------------------------



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Investment Options:

Bajaj Allianz offers you a choice of 5 funds. You can choose to invest fully in any

one fund or allocate your premiums into the various funds in a proportion that suits

your investment needs. All the funds will be managed by asset managers of Bajaj

Allianz, backed with the rich experience of Allianz AC, one of the largest asset

managers in the world today, managing assets worth more than Euro 996 billion (Rs.

53,64,456 crores).


a) Equity Index Pension Fund - The fund will primarily invest in equities & is expected

to follow the pattern underlying NSE NIFTY Index. Investment will be at least 85%

in equities and maximum 15% in debt/cash.

b) Equity Plus Pension Fund- This fund provides the scope of high appreciation over

a long term through investment in select equity stocks that have the potential for


maximum 15% in debt/cash instruments.

c) Debt Plus Pension Fund - This fund provides the scope for steady returns at low

risk through investment in high quality fixed income securities.

d) Balanced Plus Pension Fund - The balanced fund is primarily for those who

prefer a mix of steady returns & growth. The balanced fund will invest 30% to 50%

in the Equity Index fund and 50%to 70% in the Debt Plus fund.

e) Cash Plus Pension Fund - The cash fund will invest conservatively in money

market & short-term investments. 100% of this fund will be invested in money


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market instruments. The maximum allocation in this fund at the time of taking the

policy is 20%.

Additional Protection for you and your family (available with regular premium)

You have the option to add the following four additional benefits, providing total




Critical Illness Benefit (Cl)

Hospital Cash Benefit (HC)

Important Details of the 'Bajaj Allianz UnitGain Easy Pension' Plan

Minimum Maximum

Age at Entry 18 65

Deferment Period 5 40

Age at Vesting 45 70


For your convenience, we have provided 4 premium payment modes that can be

Single, Yearly, Half-Yearly, and Quarterly. We also offer a monthly premium payment mode

with salary deduction schemes. In addition, you also have the option to pay top-ups to

increase your investments. The minimum single premium is Rs. 10.000/-. For Regular

premium, the minimum premium is Rs. 10.000/-for the Annual Mode, Rs. 5.000/- for Half


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Yearly, Rs. 2500/- for Quarterly, and Rs. l.OOO/- for the Monthly Mode. The minimum top-

up premium is Rs. 5,000/-.

Full Withdrawals

UnitGain Life Pension offers you the flexibility of full withdrawals by surrendering units.

For single premium plan full withdrawals are allowed anytime after the payment of the

single premium.

For regular premium plan full withdrawal is allowed after 3 full years regular premiums

(including top ups) are paid.

The surrenders are paid out at the value of units, and there is no surrender

penalty on full withdrawals after 3 full years' regular premiums (including top ups) are

paid.

Free Look Period




refund, which will be the lower of:

a) The Premium paid less the Insurer's costs of issuing the Policy and the Policy


incurred for medical examination), or

b) The Value of Units, less the Insurer's costs of issuing the Policy and the Policy


incurred for medical examination).


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Days of Grace (not applicable for Single Premium)

Before the payment of full 3 years' regular premiums, premiums must be paid

when due to keep the policy in-force. Till such time the company receives 3 full years'

regular premiums (including top-up premiums), 30 days of grace period will be allowed

for the yearly, half yearly and quarterly modes and 15 days of grace will be allowed for

the monthly mode.

Revival of the Policy

It is possible to revive a policy that has lapsed due to non-payment of premiums

or exhaustion It is possible to revive a policy that has lapsed due to non-payment of

premiums or exhaustion of units within 5 years from such date of lapse. The revival will

effected subject to underwriting.


of units within 5 years from such date of lapse. The revival will effected subject to

underwriting.


The policy will terminate on occurrence of any of the following:

a) The units in the policy are fully surrendered

b) The account value becomes Rs 100/- or less

c) The account value is not sufficient to support deduction of units for a period of three

months.

Fund Access - Loans

Loans are not available under this Plan.


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modified.

Tax Benefits

Death Benefit is tax-free. The l/3rd lump sum that can be taken on the Vesting

Date is also tax-free. Premiums paid are eligible for tax relief under Sec. 80 CCC (1) or

Sec. 88 of IT Act. Value of Units cancelled for Critical Illness and Hospital Cash Benefit

is eligible for tax relief under Section 80(D). In case of change in any tax laws relevant

to the policyholder or the fund performance, the same will be applied as per

regulations prevailing at that point of time.

General Exclusion


commencement/reinstatement of the policy, the amount payable would be the value of

units in the policyholder's account.

Charges Under the Plan

Given below are the details of the various charges that will be recovered from the

plan to meet expenses.

Fund Administration Charge: Annual administrative charges would be Rs. 20 per

month per policy (charged monthly through cancellation of units), escalating at5%

per annum.

Fund Management Charge: Annual investment charge would be charged on net

assets and would be as follows: Equity Plus Pension Fund 1.5% p.a., Equity Index


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Pension Fund % p.a., Debt Plus Pension Fund 0.7% p.a.. Cash Plus Pension Fund

0.7% p.a.. Balanced Plus Pension Fund has no specific charges as charges are

covered by component Pension funds.

Transaction Charge: The transaction charge will be 0.5% but not exceed 0.7% of

the equity investment. The transaction charge will be 0.1 % but not exceed 0.2% of

the debt investments.

Switching Charges; Three free switches would be allowed every year.

Subsequent switches would be charged @ 1 % of switch amount or Rs. 100,

whichever is higher.

Allocation: A portion of the premium paid will be charged towards expenses in the

initial years. Accordingly, the allocation to your fund will be 85% in year 1,98% from

year 2 onwards. The allocation of single premium and top ups would be 98%.

Mortality Charges: The mortality charges are on a one-year renewable basis and

as per the table below for standard lives.

Revision of charges

After taking due approval from the Insurance Regulatory and Development

Authority, the company reserves the right to change the following charges:

The Company reserves the right to change the Fund Management charge at any

time with prior approval from the Insurance Regulatory and Development Authority

up to a maximum of 1.75% per annum of the net assets for the Equity Plus Pension

Fund, 1.25% for the Debt Plus Pension and Cash Plus Pension Funds and 1.5% for

the Equity Index Pension Fund.


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The company reserves the right to change the Fund Administration charges at any

time with prior approval from the Insurance Regulatory and Development Authority.

The processing charges are also reviewable periodically.

The mortality charges are subject to periodic review and applicable subject to IRDA

approval. The premium rates for Critical Illness benefit are guaranteed for the first

five years. The company reserves the right to carry out general review of the

experience from time to time and change the premium as a result of such review. In

case of the Hospital Cash benefit the premiums are yearly reviewable.

If the Proposer/Life Assured does not agree with the modified charges, he/she will

be allowed to exit the plan at the prevailing price of units.

Risks of Investment in the Units of the Plan:

The Proposer/Life Assured is aware that the investment in the Units is subject to

the following, amongst other risks and agrees that he is making the investment in the

Units with full knowledge of the same.

1) Bajaj Allianz UnitGain Life Pension is only the name of the policy and does not in

any way indicate the quality of the policy, its future prospects or returns.

2) Equity Index Pension Fund, Equity Plus Pension Fund, Balanced Plus Pension

Fund, Debt Plus Pension Fund and Cash Plus Pension Fund are the names of the

funds offered currently with Bajaj Allianz UnitGain Life Pension, and in any manner

does not indicate the quality of the respective funds, their future prospects or

returns.

3) The investments in the Units are subject to market and other risks and there can be

no assurance that the objectivities of any of the funds will be achieved.


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4) The price of units of each fund can go up or down depending on the factors and

forces affecting the financial and debt markets from time to time and may also be

affected changes in the general level of interest rates.

5) The Equity Index Pension, Equity Plus Pension, Debt Plus Pension, Cash Plus

Pension and Balanced Plus Pension Funds do not offer a guaranteed or assured

return.

6) All benefits payable under the Policy are subject to the tax laws and other financial

enactments, as they exist from time to time.

Unit Gain

The thumb rule for buying insurance is that your insurance needs are minimal in your

early earning years, increase with added responsibilities (Marriage, children, loans

etc.) and taper off by the time you retire. It is difficult to find a single insurance plan that

can take care of all your changing requirements in life - additional protection, more

money to invest, sudden requirement of cash or a steady post-retirement income.


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With Bajaj Allianz UnitGain, you can invest in one life insurance plan that can take care

of all your changing requirements throughout your life. This plan has been designed to

provide you with maximum flexibility, so that you do not have to worry about your

changing needs.

Bajaj Allianz UnitGain offers the unique option of combining the protection of life

insurance with the attractive prospects of investing in securities. You can choose the

investment funds you want to invest your money, providing you with an opportunity to

have a direct stake in the performance of the financial markets. You also benefit from

attractive tax advantages and can protect your loved ones against unfortunate events.

The Bajaj Allianz UnitGain Plan

The Bajaj Allianz UnitGain comes with a host of features to allow you to have the

best of all

worlds - Protection and Investment with flexibility like never before.

Some of the key features of this plan are:

Guaranteed death benefit.

Choice of 5 investment funds with flexible investment management: you can

change funds at any time.

Attractive investment alternative to fixed-interest securities.

Provision for full/partial withdrawals any time after three full years' premiums are

paid.

Unmatched flexibility - to match your changing needs.


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How does the plan work?




insurance cover charges are deducted through monthly cancellation of units. The Fund

Administration Charge and Fund Management Charge are priced in the unit value.

Minimum Sum Assured = 5 times the annual premium.

Maximum Sum Assured = y times the annual premium where y will be as per

the following table:

Age

Group

0-30 31 -35 36-40 41 -45 46-55 56-60

Y 125 105 75 55 30 20

Benefits available under the plan

Death Benefit: In case of unfortunate premature death the beneficiaries are entitled to

the Sum Assured less withdrawals or the bid price of units, whichever is higher. If the

age of the insured person is less than 7 or above 70, then the bid price of units is paid.

Cash Withdrawal Option: There is no maturity date for this plan. There is a 100%

surrender penalty on full or partial surrender of units during the first three years.

Anytime after payment of 3 full years' premiums, you may withdraw money, depending

on your requirements, through partial or complete surrender of units. In case of partial

withdrawal, a minimum balance of Rs. 10,000 (at Bid Price) across all funds must be

maintained, and the minimum withdrawal amount is Rs. 1000 (at Bid Price).


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Value of Units: The unit Bid Price of each fund will be the unit value calculated daily on

a forward pricing basis.

Market/Fair value of the investments of the fund plus current

assets less current liabilities and Provisions +/ TransactionCharges

Unit value=----------------------------------------------------------------------------------------------------------


Investment Options:

Bajaj Allianz offers you a choice of 5 funds. You can choose to invest fully in any

one fund or allocate your premiums into the various funds in a proportion that suits

your investment needs. All the funds will be managed by asset managers of Bajaj

Allianz, backed with the rich experience of Allianz AC, one of the largest asset

managers in the world today, managing assets worth more than Euro 989 billion (Rs.

49,84,560 crores).


a) Equity Fund - This fund provides the scope of high appreciation over a long term.

The fund will primarily invest in equities & is expected to match returns given by

NSE NIFTY. This fund will invest at least 90% in equities and maximum 10% in

cash.

b) Equity Gain Fund - The investment objective of this Fund is to provide capital

appreciation through investment in select equity stocks that have the potential for


maximum 15% in debt & cash instruments.


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c) Debt Fund - This fund provides the scope for steady returns at low risk through

investment in high quality fixed income securities. This fund will be invested fully in

debt instruments.

d) Balanced Fund - The balanced fund is primarily for those who prefer a mix of

steady returns &a