Bajaj Allianz elite assure plan is participating traditional endowment plan. Which provides a complete savings and protection to the policyholder. There is regular or limited premium option. There is various options for policy term available in this plan. It provides a good long term investment on payment of small amount of money and also protection. If any unfortunate incidence happens to the life of policy holder. In that case it secure the future of the family by providing various benefits.

Features of Bajaj Allianz elite assure plan.

  • 1. It is a participating non linked traditional endowment plan that means, it is free from market risk.
  • 2. It provides option for the payment of regular or Limited premiums as per the choice of the policy holder
  • 3. In case of policyholder survives throughout the policy term. Then there is a provision of maturity benefit.
  • 4. In case of policy holder made to death within the policy term. Then there is a provision of death benefit.
  • 5. There is discount on premium available on higher sum assured plans.
  • 6. The claim is provided as a lump sum and instalments.

Eligibility for the Bajaj Allianz elite assure plan.

  • The entry age for this plan is minimum 0 year to the maximum of 55 years.
  • The maturity age for this plan is minimum 18 years and maximum of 70 years.
  • The policy can be taken for the term of 15 , 20 , 25 and 30 years.
  • The premium can be paid monthly, quarterly, half yearly or annually.
  • The premium paying term can be 7 years or 10 years
  • The sum s assured on death is 10 times the annualized premium
  • Minimum sum that can be assured is rupees 5 lakh and there is no upper limit for the sum assured.Bajaj Allianz Elite Assure PlanBenefits provided under Bajaj Allianz elite assured plans.

    Death benefit
    If the policy holder meet to death within the policy term. Then the nominee of the policy holder will get the death benefit as sum assured on death plus the bonus provided by the company.

    Maturity benefit or survival benefit
    If the policyholder survives throughout the policy term. Then the policyholder will get the maturity sum amount + reversionary bonus plus additional bonus if any.
    Maturity benefits also includes loyalty addition + terminal bonus which declared every year.

    Additional benefits
    There are various options available for additional benefits in this plan which makes the plan unique the additional benefits can be taken on payment of extra premium at the time of policy purchasing the additional benefits are listed as below


  • Waiver of premium benefit
  • Accidental permanent partial disability
  • Critical illness
  • Family income
  • Accidental deathTax benefit

According to Income Tax Act section 80c. The premium paid under this plan is tax free also according to Section 10 D. The claim received is tax free that means it is going to save your tax on the amount paid as premium.

Documents required for Bajaj Allianz elite assure plan

  • Offline/Online filled application form.
  • Age proof of policy buyer.
  • Address proof.
  • PAN card and Aadhar card for KYC document
  • Accurate medical history
  • Medical examination report if required.

Terms related to Bajaj Allianz elite assure plan.

  • Free look period

If the policy buyer is not satisfied with the policy and it’s terms and condition or anything else . Then within 15 days after receiving the policy documents the policy can be cancelled.

  • Grace period

There is a provision of grace period for 15 days for the monthly premium payers as late premium and 30 days for other premium payment options as late premium.

  • Revival of policy

If the premium is not paid within the grace period then the policy get lapsed in this case the policy can be revived within the period of 2 years from the last premium paid.

  • Surrender of policy

Policy can be surrendered or terminated after the completion of certain years of the policy term. Only after the fixed years the policy will be able to get a surrender value.

  • Loan benefit

There is facility of loan in this policy that is 90% of the surrender value after the completion of certain years of the policy term.