Knowledge Base Life Insurance Guaranteed Plan Bajaj Allianz Super Saver Review
Thursday, 27 October 2011 11:29

Bajaj Allianz Super Saver Review

Written by  Yashish Dahiya
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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

Guaranteed Additions


Riders available

Loan facility

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?

Death benefit:

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.


Maturity Benefit:

At the end of policy term, Sum Assured, guaranteed additions and vested bonuses will be paid.

Guaranteed Addition:

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.


Auto Cover:

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.









1 Comment
  • Comment Link raman pal grover Thursday, 10 November 2011 14:31 posted by raman pal grover

    policy no 0210238327, super saver, agent and branch office shimla told me that the policy is for 5 year maturity and hospitalisation benefit, but policy is for 10years and there is only accidental claim not hospitalisation, simlpy it is cheating , wrong information to customer

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