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Bajaj Allianz Life

Saral Jeevan Bima
A Non Linked, Non-Participating, Individual Pure risk
premium Life Insurance Plan
Bajaj Allianz Life
Saral Jeevan Bima
Bajaj Allianz Life Saral Jeevan Bima
Bajaj Allianz Life presents a simple yet effective way of securing your and your family's Life goals.
Bajaj Allianz Life Saral Jeevan Bima is a non-linked, non-participating, individual pure risk premium life insurance plan, which
provides for payment of Sum Assured in lump sum to the nominee in case of the Life Assured's unfortunate death during the
policy term.

Bajaj Allianz Life Saral Jeevan Bima

Key Advantages
 Life cover to protect your family in case of an unfortunate event of your death
 Life cover up to term of 40 years
 Flexibility to opt for Single, Limited or Regular premium

How does the Plan work?

Choose your -
1.Sum Assured
2.Policy Term
3.Premium Paying Term
4.Mode of Premium payment
Your premium will be based on your age, gender, and the above details

Plan Benefits

Death Benefit
“This Policy will cover death due to accident only during the waiting period of 45 days from the date of commencement
of risk.
In case of death of the Life Assured other than due to accident during the waiting period, an amount equal to 100% of all
premiums2 received excluding taxes4, if any, shall be paid and the Sum Assured shall not be paid.”
On death of the Life Assured, provided the policy is in force, the death benefit payable to the nominee would be as follows:

Premium payment type Death benefit

Death benefit equal to Sum Assured on death which is the highest of:
Limited premium/Regular premium 1
 10 times the Annualized premium , or
2
 105% of all premiums paid as on date of death, or
3
 Absolute amount assured to be paid on death

Death benefit equal to Sum Assured on death which is the higher of:
Single premium 2
 125% of Single premium , or
3
 Absolute amount assured to be paid on death
Bajaj Allianz Life
Saral Jeevan Bima
The death benefit mentioned above would be payable as a lump sum and would be applicable in case of:
 Accidental Death of the Life Assured during the Waiting period; or
 Death of the Life Assured due to any reason after expiry of the Waiting period
Note:
1
Annualized Premium is the total amount of premium payable in a policy year excluding taxes4, rider premiums, underwriting extra premiums and loadings for modal
premiums, if any.
2
Premium(s) shall not include any extra amount chargeable under the policy due to underwriting decision and rider premium(s), if any. This doesn't include taxes4 which
are payable separately.
3
Absolute amount assured to be paid on death shall be an amount equal to Basic Sum Assured.
4
Tax(es) refers to GST/any other applicable tax levied, subject to changes in tax laws.

Maturity Benefit
No maturity benefit is payable under this policy.

Optional Riders
No riders are available under this product.

Sample Premium table

Life Assured's age at entry Policy term Premium Paying Term Sum Assured Annualized Premium

30 years/ male 30 years 30 years 25 lakh `8,321

35 years/ male 30 years 30 years 25 lakh `11,848

40 years/ male 30 years 30 years 25 lakh `17,525

 Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws and any extra premium
 The plan can be purchased directly from the insurance company's website also at the applicable premium rates

Eligibility
Parameter Details
Minimum - 18 years Maximum - 65 years
Age at Entry For Policies sourced through POS channel, the minimum and maximum entry age will be as per
the POS Guidelines as amended from time to time

Maximum maturity age 70 years

For Policies sourced through POS channel, the maximum maturity age will be as per the POS
Guidelines as amended from time to time

Sum Assured Minimum - 5 lakhs Maximum - 25 lakhs

Policy Term Minimum - 5 years Maximum - 40 years
 Single Premium;
Premium Payment options  Limited Premium for 5 years or 10 years;
 Regular Premium

Premium payment modes Single/Yearly/Half yearly, Monthly

Monthly is available only under ECS/NACH
Bajaj Allianz Life
Saral Jeevan Bima
Non-Payment of Regular or Limited Premiums
If any premium is not paid before the end of the grace period, then, the policy will, immediately & automatically, lapse at the
expiry of the grace period from the date of first unpaid premium, and no benefit (except for any policy cancellation value)
under the policy will be payable

Surrender Value
Surrender value is not available under this policy.

Policy Cancellation Value (Applicable only for Single and Limited premium payment policies)
Policy cancellation value shall be payable in case:
 You apply for the same before the stipulated date of maturity for a Single premium policy; or
 You apply for the same before the stipulated date of maturity or at the end of revival period (if the policy is not revived) for a
Limited premium payment policy
The amount of Policy cancellation value shall be as follows:

Premium payment type Acquisition of Policy cancellation value Amount of policy cancellation value payable

The policy cancellation value acquires

Single premium Unexpired policy term
immediately after receipt of Single 70% *Single Premium*
premium Original policy term

The policy cancellation value acquires if

Unexpired policy term
Limited premium at least two (2) consecutive full years' 70% *Total Premium Paid*
premiums are received Original policy term

Note:
Single premium and total premiums paid mentioned above shall be inclusive of extra premium(s)(if any) but exclusive of GST/any other applicable tax
levied, subject to changes in tax laws

Option to change Premium payment frequency

The premium payment frequency in a limited/regular premium policy may be changed on any policy anniversary during the
policy term, subject to the availability, then, of the premium payment frequency and the minimum premium allowed under the
product then.
The premium payment frequency factors are

Premium frequency Monthly Half yearly Yearly

Frequency Factor (freq) 0.09 0.51 1.00

Bajaj Allianz Life
Saral Jeevan Bima
Terms and Conditions
a) Free Look Period:
This is an option to review the Policy following receipt of Policy Document. The Policyholder has a free look period of 15 days
(30 days in case of electronic policies and policies obtained through distance mode) from the date of receipt of the policy
document, to review the terms and conditions of the policy and where the policyholder disagrees to any of those terms and
conditions, the policy holder has the option to return the policy to the Insurance Company for cancellation, stating the
reasons for his objection, then the policyholder shall be entitled to a refund of the premium paid subject only to the
deduction of a proportionate risk premium for the period of cover and expenses incurred by the Insurance Company on
medical examination of the proposer and stamp duty charges.
A request received by the Insurance Company for free look cancellation of the policy shall be processed and premium
refunded within 15 days of receipt of the request, as stated above.
The policy shall terminate on payment of this amount and all rights, benefits and interests under this policy will stand
extinguished.

b) High Sum Assured Rebate (HSAR):

I. HSAR will be applicable on your premium with respect to Sum Assured chosen for Life Cover
ii. This rebate will be applied on your premium for every additional 1 lac increase in Sum Assured over and above Rs. 5 Lakhs.

c) Female Life Rebate: Premium rate applicable to female life will be based on the premium rate of 3 years younger male

d) Suicide exclusion:
Under Regular/Limited Premium Policy:
This policy shall be void if the Life Assured commits suicide at any time within 12 months from the date of commencement of
risk, provided the policy is in-force or within 12 months from the date of revival and the Insurance Company will not
entertain any claim except for 80% of the premiums paid (excluding any extra amount if charged under the policy due to
underwriting decisions, taxes and rider premiums, if any) till the date of death.
This clause shall not be applicable for a lapsed policy as nothing is payable under such policies.
Under single Premium Policy:
This policy shall be void if the Life Assured commits suicide at any time within 12 months from the date of commencement of
risk and the Insurance Company will not entertain any claim except 90 % of the Single Premium paid excluding any extra
amount if charged under the policy due to underwriting decisions and rider premiums, if any.

e) Grace Period for Regular & Limited premium payment: A grace period of 30 days where the mode of payment of Premium
is yearly or half yearly and 15 days in case of monthly, is allowed for the payment of each renewal Premium. If the premium is
not paid before the expiry of the days of grace, the Policy lapses.
If the death of the Life Assured occurs within the grace period but before the payment of the premium then due, the policy
will still be valid and the benefits shall be paid after deductions of the said unpaid premium as also the balance premium(s),
if any, falling due from the date of death and before the next policy anniversary.

f) Waiting Period: Waiting Period means a period of 45 (forty five) days from the Date of Commencement of Risk. In case of
revival of Policy, the Waiting period shall not be applicable.

g) Policy Loan: Policy Loan is not available

Bajaj Allianz Life
Saral Jeevan Bima
Tax
Premium paid, Death Benefit and Policy cancellation Value are eligible for tax benefits as per extant Income Tax Act, subject to
the provision stated therein and as amended from time to time.
You are requested to consult your tax consultant and obtain independent tax advice for eligibility and before claiming any
benefit under the Policy.

Revival of lapsed policies (Applicable only for Limited and Regular premium payment policies)
 If the Policy has lapsed due to non-payment of due premium within the Grace period, it may be revived during the life time
of the Life Assured, but within the Revival Period (five(5) consecutive years from the due date of first unpaid premium) and
before the Date of Maturity, as the case may be, on payment of all the arrears of premium(s) together with interest at a rate
which shall be determined as follows:
The revival rate will be equal to 10-year G-Sec yield plus 2% rounded up to the next full interest rate. Any change in the basis
of determination of interest rate shall be done only after prior approval of IRDAI.
The revival interest rate shall be reviewed on an annual basis. The current applicable revival interest rate is 9% p.a.
compounded half-yearly.
 In addition to the arrears of premium with interest, proof of continued insurability may be required for revival of the lapsed
policy. The Insurance Company, however, reserves the right to accept at original terms, accept with modified terms or
decline the revival of a lapsed policy. The revival of the lapsed policy shall take effect only after the same is approved by the
Insurance Company and is specifically communicated to the Policyholder.
 If a lapsed policy is not revived within the revival period but before the Date of Maturity, the policy will automatically
terminate. In case of Regular Premium policies, nothing shall be payable. However, in case of Limited Premium Payment
policies, the amount as payable in case of Policy Cancellation shall be refunded and the policy will terminate.

Termination
This Policy shall, immediately and automatically, terminate on the earliest occurrence of any of the following events:
I) The date on which death benefit becomes payable; or
ii) The date on which refund, if applicable, is settled, in case of cancellation of policy; or
iii) The date of maturity; or
iv) On expiry of revival period, if the policy has not been revived; or
v) On payment of free look cancellation amount
Bajaj Allianz Life
Saral Jeevan Bima
Statutory Information

Assignment: Section 38 of the Insurance Act, 1938

Assignment should be in accordance with provisions of section 38 of the Insurance Act 1938 as amended from time to time.

Nomination: Section 39 of the Insurance Act, 1938

Nomination should be in accordance with provisions of section 39 of the Insurance Act 1938 as amended from time to time

Prohibition of Rebate: Section 41 of the Insurance Act, 1938:

(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or
renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or
part of the commission payable or any rebate of the Premium shown on the Policy, nor shall any person taking out or
renewing or continuing a Policy accept any rebate, except such rebate as may be allowed in accordance with the published
prospectuses or tables of the insurer.
(2) Any person making default in complying with the provisions of this section shall be liable for a penalty which may
extend up to ten lakh rupees.”

Fraud, Misstatement & Forfeiture- Section 45 of the Insurance Act, 1938

Fraud & Misstatement would be dealt with in accordance with provisions of section 45 of the Insurance Act 1938 as
amended from time to time.

Applicability of Goods & Service Tax

Goods and Service Tax is charged based on type of policy communication address of Policy Holder. This may change subject
to change in rate/state in address of the Policy Holder as on date of adjustment.

About Bajaj Allianz Life Insurance

Bajaj Allianz is a joint venture between Bajaj Finserv Limited and Allianz SE. Both enjoy a reputation of expertise, stability and
strength. This joint venture Insurance Company incorporates global expertise with local experience. The comprehensive,
innovative solutions combine the technical expertise and experience of Allianz SE, and in-depth market knowledge and
goodwill of “Bajaj brand” in India.

Disclaimer
This sales literature gives the salient features of the plan only. The policy document is the conclusive evident of contract
and provides in details all the conditions and exclusions related to Bajaj Allianz Life Saral Jeevan Bima.
Standard terms and conditions of the policy are available on Insurance Company website.
For More Information: Kindly consult our “Insurance Consultant” or call us today on the TOLL FREE numbers mentioned
above. This brochure should be read in conjunction with the Benefit Illustration and Policy Exclusions. Please ask for the
same along with the quotation.
Bajaj Allianz Life
Saral Jeevan Bima
Contact Details

Regd. Office Address

Bajaj Allianz Life Insurance Company Limited, Bajaj Allianz House, Airport Road, Yerawada, Pune - 411 006.
Reg. No.: 116 | Fax: (020) 6602 6789. | www.bajajallianzlife.com | CIN: U66010PN2001PLC015959

SMS LIFE 56070

For any queries please contact:

Sales: 1800 209 0144 Service: 1800 209 7272

Mail us : customercare@bajajallianz.co.in Chat: https://goo.gl/PdEyZu

Bajaj Allianz Life Saral Jeevan Bima UIN : 116N165V01

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS!

IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such
phone calls are requested to lodge a police complaint.

For More Information: Kindly consult our “Insurance Consultant” or call us today on the TOLL FREE numbers mentioned
above. This brochure should be read in conjunction with the Benefit Illustration and Policy Exclusions. Please ask for the
same along with the quotation.
The Logo of Bajaj Allianz Life Insurance Co. Ltd. is provided on the basis of license given by Bajaj Finserv Ltd. to use its “Bajaj” Logo and
Allianz SE to use its “Allianz” logo.

By submitting your contact details or responding to Bajaj Allianz Life Insurance Co. Ltd., with an SMS or Missed Call, you authorize Bajaj Allianz
Life Insurance Co. Ltd. and/or its authorized Service Providers to verify the above information and/or contact you to assist you with the
purchase and/or servicing.

BJAZ-O-4723/04-Feb-21