New Risk Cover, a life insurance product of Bajaj Allianz Life Insurance, which gives life insurance cover at the lowest possible cost for a selected term. It is a perfect term insurance plan to protect your self and your family members against financial risks. In case of insured person's death during the policy term, the Sum Assured is paid to the nominee. There are no survival benefits under this plan.
The "Bajaj Allianz Risk Care" Plan gives you option to choose between two premium payment frequencies.
Regular Premium Payment Premium payment throughout the selected term.
Single Premium Payment One time premium payment for the selected term at commencement.
Bajaj Allianz Life Insurance company gives you additional benefits best suited to your needs, available in four attractive packages to choose from.
Unique Features and Benefits of Bajaj Allianz Life New Risk Care:
It is a non-participating protection plan ( Term Insurance ).
Get Life Insurance cover at the lowest premium cost.
Regular/Single Premium payment options.
Enhanced Protection options available through additional rider benefits.
Eligibility Criteria:
Entry Age: Minimum age limit is 18 years and Maximum age limit is 60 years.
Maturity Age: Maximum Maturity age limit is 65 years.
Premium Paying Term: Single or Regular.
Premium Paying Option: Minimum 5 years and Maximum 40 years.
Premium Paying Frequency: you can pay your premium Yearly, Half Yearly, Quarterly, Monthly or Single.
Sum Assured: Minimum sum assured payable is Rs. 4 Lakhs and Maximum sum assured payable is Rs. 50 crore.
Death benefit:
In case the insured person dies during the policy term, sum assured on the policy will be paid to the nominee.
Tax Benefits:
Premium paid will be eligible for tax benefit under Section 80C. The death benefit will be eligible for tax benefit under Section 10(10)D as per the prevailing tax laws.