Bajaj Allianz Super Saver Review
Plan Name: Super Saver
Insurer: Bajaj Allianz Life Insurance
Category: Traditional Plan
Objective: Financial protection of family and returns on investment
Major USP of Bajaj Allianz Super Saver
Eligibility of Bajaj Allianz Super Saver
Minimum Entry Age: 18 Years
Maximum Entry Age: 60 Years
Policy Term: 10-30 Years
Premium Payment Term: Regular
Minimum Premium: Rs 1,055 per annum
Premium Payment Mode: Yearly
What benefits does Bajaj Allianz Super Saver offer?
In case of unfortunate death of the life insured, Sum Assured, guaranteed additions and vested bonuses will be paid. If the death is accidental, additional Sum Assured is paid.
At the end of policy term, Sum Assured, guaranteed additions and vested bonuses will be paid.
At the end of each policy year, 4% of Sum Assured is added.
You can opt for the following riders with the plan- Accidental permanent total/partial disability benefit rider and Family income benefit rider.
From 2nd policy year onwards, if premium is not paid, the policy will remain in force for two years from the date of unpaid premium.
Loan facility is available with the policy.
Are there any tax benefits?
Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income.
Under Section 10(10D) death claim is completely tax free.
What else should I know about?
Surrender Value: You can surrender the policy and the guaranteed surrender value will be equal to 30% of premiums paid except the first premiums.
Free Look Period: Super Saver plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.