Pvt Insurance

8/6/2019 Pvt Insurance

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Private Insurance Companies Fast and Promising

The role of private insurance companies has greatly increased with the common mans interest in choicesand comprehensive policies. With a fast response rate and quick delivery, this competitive sector combinesall advantages.

Private Insurance Companies - Choice for Life

The leaps and bounds that health industry has made is vast. In such a scenario private insurancecompanies have emerged in the past few decades and have made the task of insuring and providing cashfree service easy when time is short. Since there can be no compromise where health is concerned getting agood package for future contingencies has become the main aim of the thinking individual. A privatelyowned enterprise provides the common man with much more choices when it comes to selecting a packagethat will suit his unique needs. When choosing the best policy one would want to look for the mostcomprehensive plan, one that will include all eventualities of the unforeseeable future and private insurancecompanies provide that.

Insurance Firms - Comprehensive Packages

Today insurance covers a vast area of sectors than what it used to, thanks to the entrance of individualowned corporations. Unlike public sector insurance like Medicare, privately owned insurance firms providea broader perspective of how insurance should be. With fierce competition between large players in thisfield, the consumer is bound to get some distinct advantages. Some of the policies provided by these firms
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include health, auto, general, life, travel insurance and cash-less transactions among others. Such exclusiveinsurance firms provide their clients with improved customer relation services, faster paperwork andproviding the required help quickly and efficiently.

All Insurance Companies - Providing Service

The main service that all insurance companies provide is a sort of risk management for what is unknownand cannot be predicted. These policies allow an individual to insure for such possibilities so that when thetime comes the family members are not left in dire straits. Some progressive insurance companies assistlarge scale firms by providing umbrella coverage to their employees while others give additional benefitsalong with mandated plans as a way to induce the uninitiated to start planning about insurance. They arealso a good way to gain tax benefits in addition to providing coverage for the family.

Bajaj Allianz General Insurance Company Limited

Non-Life Insurance.

Deutsche Bank is committed to provide you with time-tested and trusted financial

solutions that give you all the security you need. We offer you Non-Life Insurancesolutions from Bajaj Allianz General Insurance Company Limited

Non Life Insurance Products:

You can avail of a range of products to suit your insurance needs. We have classified

general insurance under four categories.

Asset Insurance

Your assets are your possessions which you have earned. You can protect these with

insurance depending upon which asset you want to protect.

Know more

Health Insurance

Now you can protect yourself from costly medical bills in case of any emergency. BajajAllianz offers a range of health plans to cover you and your family against expensive

medical care.
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Know more

Travel Insurance

While traveling alone or with friends and families, for business or for pleasure, you areexposed to many travel related risks such as delay or loss in baggage, loss of passport or

medical bills in a foreign country. Get yourself protected from all these risks by selecting

an insurance product which caters to your needs.

Know more

ASSET INSURANCE:

Corporate Insurance

You put your hard earned money into your business. Bajaj Allianz has a range ofproducts to secure your business against all risks.

Your assets are your possessions which you have earned. You can protect these byselecting insurance from below depending upon which asset you want to protect.

Car / Motorbike Insurance

Though it is easy to own vehicle it is expensive to maintain, especially in case of damage

caused to your vehicle due to some unavoidable circumstances or accidents. This policy

provides cashless settlement of repair claims and covers the legal liability to third party,personal injury and property damage arising out of an accident involving the insured

vehicle.

Home Insurance

Bajaj Allianz bring to you the House - Holder's Insurance policy designed to cover

various risks and contingencies faced by householders under a single policy. It providesunique comprehensive fire insurance for your own home and its contents, including theft,

breakdown and repair for equipments in your home with high priority claims services

throughout the country.
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Shop / Showroom Insurance

Comprehensive package policy to insure money, data media, software, cost of recovery

of lost data, personal insurance of employees. It is a one stop shop / solution for yourbusiness related needs.

HEALTH INSURANCE:

Now you can protect yourself from costly medical bills in case of any emergency.Choose from a range of health plans covers you and your family against expensive

medical care.

Tax Gain

The Tax Gain plan is a family floater health policy which covers out patient (OPD)

expenses & hospitalization expenses under a single policy and helps you in your taxmanagement also.

Key Features:

OPD (includes dental procedures & treatment) & Hospitalisation expenses

covered under a single policy on floater basis.

Access to over 2,400 hospitals all over India for cashless facility.

130 day care procedures subject to terms & conditions.

Provides benefit of Health check-up at the end of each four (Hospitalization)claim free policy periods.

A single policy or cover can be continued till a person reaches 75 years.

Provides Tax benefit under section 80 D of Income Tax Act.

Health Care

Health Care is policy from Bajaj Allianz General Insurance Co. Ltd designed exclusivelyfor Deutsche Bank customers. It combines the advantages of two of Bajaj Allianzs

popular products - Health Guard and Critical Illness. The key benefits of this product are


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- extensive pre and post hospitalization days (60 and 90 days), a family floater benefit

with family discounts and administration of cashless claim in their network hospitals and

nursing homes. The administration is through the in-house team of Bajaj Allianz itself,making the claim process smooth and swift.

TRAVEL INSURANCE

While traveling alone, or with friends and families, for business or for pleasure, you areexposed to many travel related risks such as delay or loss in baggage, loss of passport or

medical bills in foreign country. Get yourself protected from all these risks by selecting a

product from below which caters to your needs.

Travel Elite

An exclusive policy for high end travelers called Travel Elite - a cluster of benefits policymade for the specific customer group.

Shubh Yatra

Unique domestic train travel policy. Insure your train journey. Your home is ensuredagainst burglary when you travel.

Travel Asia

Bajaj Allianz General Insurance has introduced two new low-cost travel insurance plansfor travelers to asian countries.

Travel Companion

It is specially designed to help you deal with situations while overseas travel. It has an

advantage of the entire family being covered under one policy.

Student Companion


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Most suitable policy for students traveling overseas. It provides financial support outside

the country.

CORPORATE INSURANCE

You put your hard earned money into your business. Choose from a range of products to

secure your business against all risks.

Office Insurance

Your office is a hive of activity. Major investment, time and effort goes into building upyour business. The office package is the best way to protect your business from loss due

to unexpected contingencies such as burglary, fire, fidelity etc

Specialty Lines

This policy has been designed to take care of special needs like aviation, marine hull,

project insurance, freight forwarders, port liabilities, film insurance, credit insurance,event insurance etc.

Employees Insurance

Your employees are your strength, you can take care of your employees with Group

policies like PA, group HG, group CI, group travel, workmen's compensation etc.

Manufacturing Unit Insurance

While going about your daily business activities, dangers could be lurking close to you.Machinery breakdown, fire, earthquake, etc. could severely affect your assets and profits.

Protect your manufacturing units and your profit with our range of need-based policies.


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REASONS FOR HAVING LIFE INSURANCE POLICY

Ever thought about why you should take an insurance policy?

Life is full of uncertainties. A life insurance policy not only creates security for you and

your family, but also lets you safeguard your standard of living in the later years of life

Additionally, a life insurance policy

encourages and forces compulsory savings

offers tax relief

provides financial protection against unfortunate incidents like accident or anillness

PLANS AHEAD FOR TOMORROW

Investment in insurance is required at all stages in life but the quantum of insurance

changes as life progresses.

Young Professional

When youre young and single you have no financial responsibilities. However, as you

grow older you will be assuming new roles and taking on larger responsibilities too. We

recommend that you buy a policy now while you're young and benefit from low premiumrates for life. If you have any family member dependent on you for financial support then

by all means you should consider life insurance.

Just Married

Married couples with no children need to plan ahead to ensure financial security for each

other. Life insurance in such a case is an important investment. If both of you aresufficiently insured then the death of either spouse would not be financially catastrophic.

Married with kids

A single-income family with young children is the classic high-need situation. The familyis dependent on the earning member for their total support, so insurance on that life is

vital.

Nearing Retirement


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You may have a pension and considerable assets that can generate good income after

your retirement, however with suitable insurance planning you can sustain your standard

of living more comfortably.

HUMAN LIFE VALUE

What is Human Life Value?

Human Life Value is that amount which ensures that the standard of living of a family

is not affected even if the earning member is not there or not able to earn.

Why is it important to know your Human Life Value?

Most families are accustomed to a certain standard of living. What we often fail to realise

is that this standard of living is entirely dependant on the earning member of the family.

If the earning member is unable to provide for the family, it is hardly possible to maintainthe same quality of life.

Do you know your Human Life Value?

Use these simple thumbrules to find out.

Age "Human Life Value"

Upto25

20 times annual gross salary

25 - 35 15 times annual gross salary

35 - 45 12 times annual gross salary

45 + 10 times annual gross salary

To give you appropriate life insurance solutions, we have tied up with Birla Sun Life, aleading private life insurance company. You can avail of a range of products to suit your

insurance needs.

Unit Linked Investment Plans

Entry Age 8 to 60 years

Policy Term 10 years

Minimum Basic Sum

Assured(BSA)

For entry ages below 45For entry ages 45 and above

Single Pay 5-Pay

1.25*Basic Premium 10*Basic Premium1.10*Basic Premium 7*Basic Premium


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Maximum Basic Sum Assured

For entry ages below 45

For entry ages 45 and above

Single Pay 5-Pay

5*Basic Premium 300% of BSA

5*Basic Premium 300% of BSA

Death Benefit Upon the unfortunate demise of the life insured

prior to

maturity, we shall pay to the nominee the BasicSum

Assured plus the Fund Value as of the date of

intimation of death.

Maturity Benefit You will receive the Fund Value at

maturity, if you

are invested in the Self-Managed Option

at thattime.

You will receive the higher of the

GuaranteedMinimum Maturity Benefit or the FundValue at

maturity, if you are invested in the

GuaranteedOption at that time.

Surrender Benefit Surrender policy only after 5 years of policy and

receivethe fund value at that time.

Loan Benefit You can avail of a loan on your policy. The

minimum

loan amount is Rs. 5,000 and themaximum loan amount is 40% of the Fund Value

net

of any discontinuance charges. Theinterest we charge on such loans will be fixed by

us

from time to time based on then prevailingmarket conditions.

Premium Payment Options Single-pay-Minimum Basic Premium Rs. 200,000

once

5-Pay-Minimum Basic Premium Rs. 100,000

yearlyPartial Withdrawals You can make unlimited partial withdrawals to

meetany financial emergencies

Entry Age 8 to 70 years of age


Minimum Basic Sum Assured (BSA) 10 x Basic Premium for entry ages below


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45

7 x Basic Premium for entry ages 45 and

above

Enhanced Sum Assured Minimum Rs. 50,000 and not exceeding

Basic Sum

Assured, Entry Age 18 to 65 yearsDeath Benefit The Fund Value as on date of intimation of

death or the

Basic Sum Assured reduced for partialwithdrawals.

In addition we will also pay the Enhanced

Sum Assured, if any.

Maturity Benefit You will receive the Fund Value atmaturity.

In addition, you will receive an amount

equal to the

number of units in Platinum AdvantageFund times the excess, if any, of

Guaranteed Unit

Price over the then prevailing unit price ofthis investment fund, if you have opted for

Guaranteed Option.

Surrender Benefit Surrender policy only after 5 years ofpolicy and receive

the fund value at that time.

Loan Benefit You can avail of a loan on your policy. Theminimum

loan amount is Rs. 5,000 and themaximum loan amount is 40% of the Fund

Value netof any discontinuance charges. The

interest we charge on such loans will be

fixed by usfrom time to time.

Premium Payment Options 5 years

Minimum Rs. 25,000 p.a. if paid annually

Minimum Rs. 30,000 p.a. if paid monthly,quarterly or

semi-annuallyPartial Withdrawals You can make unlimited partial

withdrawals to meet

any financial emergencies

Entry Age 1 year to 65 years, subject to minimum age of 18 onGSD

Policy Term 10, 15, 20, 25 and 30 years


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Guaranteed Savings Date Same as policy term

Enhanced Sum Assured Minimum Rs. 50,000 and not exceeding Basic Sum

Assured, Entry Age 18 to 65 years, subjectto maximum age of 75 on GSD

Guaranteed Additions Additional units will be added to your policy:

On 10th policy anniversary and every 5th policyanniversary thereafter. Guaranteed Addition is 2.50%

of the Basic Premiums paid in the last 60 months

In addition on 11th policy anniversary and everypolicy

anniversary thereafter. Guaranteed Addition is 0.25%

of the average Fund Value in the last 12 months

Death Benefit In the unfortunate event of the death of the lifeinsured

prior to maturity, we will pay to the nominee

Basic Sum Assured; plus Fund Value as on date of intimation of death;

plus

Enhanced Sum Assured, if any

Maturity Benefit You will receive higher of the Fund Value or

GuaranteedSavings Fund at maturity.



Loan Benefit You can avail of a loan on your policy. The minimumloan amount is Rs. 5,000 and the maximum loan

amountis 40% of the Fund Value net of any discontinuance

charges. The interest we charge on such loans

will be fixed by us from time to time.

Premium Payment Options Minimum Rs. 12,000 p.a. if paid annually

Minimum Rs. 15,000 p.a. if paid semi-annually

Minimum Rs. 20,000 p.a. if paid quarterly

Minimum Rs. 24,000 p.a. if paid monthly

Partial withdrawals You can make unlimited partial withdrawals to meet


Entry Age 1 year to 65 years, subject to minimum age of 18 onSavings Date

Savings Date Same as policy term

Policy Term 10, 15, 20, 25 and 30 years

Enhanced Sum Assured Minimum Rs. 50,000 and not exceeding Basic SumAssured,


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Entry Age 18 to 65 years, subject to maximum age of

75

on Savings Date

Guaranteed Additions Additional units will be added to your policy:

On 10TH policy anniversary and every 5TH policy

anniversary thereafter. Guaranteed Addition is 2.50%of the Basic Premiums paid in the last 60 months

In addition on 11TH policy anniversary and every

policyanniversary thereafter. Guaranteed Addition is 0.25%

of the average Fund Value in the last 12 months

Death Benefit In the unfortunate event of the death of the life

insuredprior to maturity, we will pay to the nominee

Basic Sum Assured; plus

Fund Value as on date of intimation of death; plus

Enhanced Sum Assured, if anyMaturity Benefit You will receive the Fund Value at maturity



Loan Benefit You can avail of a loan on your policy. The minimum

loan amount is Rs. 5,000 and themaximum loan amount is 40% of the Fund Value net

of any discontinuance charges. The

interest we charge on such loans will be fixed by usfrom time to time.

Basic Premium PaymentOptions

Minimum Rs. 25,000 p.a. if paid annuallyMinimum Rs. 30,000 p.a. if paid monthly, quarterly

orsemi-annually

Pay Term Short pay - 5, 10, 15, 20 years or To Savings Date

Partial Withdrawals You can make unlimited partial withdrawals to meet


Traditional Plans

Entry Age 1 to 65 years

Policy Term Whole Life to Age 100

GSB TermMinimum GSB Term

Maximum GSB Term

5 to 35 yearsAttained Age at GSB Term is 18 or more

Attained Age at GSB Term is 75 or less

Premium Paying Term Regular Pay during the GSB Term

Death Benefit In the event the life insured dies during the policy

term,

we shall pay the Sum Assured to thenominee as the Death Benefit,


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Guaranteed Death Benefit; plus

Monthly Additions accrued to date; plus

Enhancement to Monthly Additions, if applicable

Survival Benefit Guaranteed Survival Benefit; plus

Monthly Additions accrued to date; plus

Enhancement to Monthly Additions, if applicableThe policy continues even

After the Survival Benefit is paid.

Maturity Benefit In the event the life insured survives to the end of thepolicy term, we shall pay to you the

Sum Assured as the Guaranteed Maturity Benefit.

The policy shall be terminated once the

Maturity Benefit is paid.

Loan Benefit You can also avail of loans on your policy once it has

acquired a Surrender Value. The minimum loan

amount

is Rs.5,000 and the maximum is 90% of your policysSurrender Value.

Entry Age 8 - 60 years, subject to minimum attained age of 18 at

maturity

Policy Term 5 or 10 years

Basic Sum Assured 5 times Single Premium

GSB Term

Minimum GSB TermMaximum GSB Term

5 to 35 years

Attained Age at GSB Term is 18 or moreAttained Age at GSB Term is 75 or less

Premium Paying Term

Minimum Single Premium

Single pay

Minimum Rs. 50,000

Death Benefit In the unfortunate event of death of the life insured,

the nominee shall

Receive the Basic Sum Assured.

Survival Benefit Guaranteed Survival Benefit; plusMonthly Additions accrued to date; plus

Enhancement to Monthly Additions, if applicable

The policy continues evenAfter the Survival Benefit is paid.

Maturity Benefit On maturity, you will receive

Maturity Sum Assured; plus

All Guaranteed Monthly Additions earned to date;plus

Guaranteed Final Addition

Loan Benefit You can also avail loans on your policy.

Surrender Benefit you may surrender your policy any time after 1st

policy

year and receive90% of the Maturity Sum Assured; plus


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Guaranteed Monthly Additions earned to date

Entry Age 30 days to 60 years

Policy Term Minimum-10 yearsMaximum-70 minus your current age

Subject to Maximum 40 years

Basic Sum Assured 5 times Single PremiumGuaranteed Savings Benefit(GSB) Term

Minimum GSB Term

Maximum GSB Term

5 to 35 years

Attained Age at GSB Term is 18 or more

Attained Age at GSB Term is 75 or less

Premiums Minimum: Rs. 9,600 per annum You can choose your

annual base premiums only in multiples of Rs. 1,200

Death Benefit In the unfortunate event of death of the life insured,the nominee shall

Receive the Basic Sum Assured.

Survival Benefit &

Maturity Benefit

A minimum amount that is guaranteed at the end of

theterm of the policy, along with a chance to earn

survival

benefit at the end of every policy year from the 3rdyear onwards. This adds up to form your accumulated

survival benefits.

The Guaranteed Maturity Benefit is the sum of all

basepremiums that you have paid. And, the younger you

are

and the longer you stay with the policy the higher theGuaranteed Maturity Benefit will be. You will receive

the Guaranteed Maturity Benefit and the accumulated

Survival Benefit on maturity.

Withdrawal Options The accumulated survival benefit could be used for

cash

withdrawals or premium offsets.

Maturity Preponement Unfortunate circumstances could bring about a needto

prepone the maturity of your policy. In this situation,

the plan would pay you an amount equaling theGuaranteed Maturity Benefit minus the early maturity

adjustment, along with your accumulated survival

benefits. Preponement is possible only after tencompleted policy years. Also no deduction is made if

preponement is after 20 policy years.

Surrender Benefit On surrender of your policy before the completion of

ten policy years, your base premiums multiplied by apercentage* plus your accumulated survival benefit


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would be paid to you

The policy acquires a surrender benefit only if

premiums have been paid for 3 full years.

Premium Paying Frequency Annually, half yearly, quarterly or monthly, as per

your

convenienceEntry Age 30 days - 60 years


Sum Assured Up to 180 times Monthly Base Premium

Death Benefit In the unfortunate event of death of the life insured,the nominee shall receive

All Monthly Base Premiums paid (or Sum

Assured if higher); +

All Bachat Additions earned; +

The Loyalty Addition

Maturity Benefit On maturity after 20 years, you will receive

All Monthly Base Premiums paid; +

All Bachat Additions earned +

The Loyalty Addition

Surrender Benefit Once 36 MBPs have been paid, you may surrender

your

policy and receive all monthly base premiumspaid from the 2nd year onwards x the surrender

factor below; plus after the 10th policy

year, all Bachat Additions earned;plus

After the 15th policy year, the Loyalty Addition

Loan Benefit You can avail of a loan on your policy.

Monthly Base Premium

Premium PaymentFrequency

Rs. 400 - Rs. 5,000

Annual, Semi-annual, Quarterly and Monthly

Pay Term 20 years

Entry Age 13 - 60 years


Sum Assured Up to 180 times Monthly Base PremiumDeath Benefit All Monthly Base Premiums paid (or Sum Assured if

higher); plus

All Bachat Additions earned; plus

The Loyalty Addition; less

All Survival Benefits paid.


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Survival Benefit You will receive 20% of Monthly Base Premiums

paid,

on the 5TH, 10TH and 15TH policy anniversary.

Maturity Benefit On maturity after 20 years, you will receive

All Monthly Base Premiums paid; plus All Bachat Additions earned; plus

The Loyalty Addition; less

All Survival Benefits paid.

Surrender Benefit Once 36 MBPs have been paid, you may surrender

your

policy and receive

All Monthly Base Premiums paid from the

2nd

year onwards x the surrender factor; plus After the 10th policy year, all Bachat

Additions

earned; plus

After the 15th policy year, the LoyaltyAddition

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