Bajaj Allianz Report

A
PROJECT REPORT
ON
“A STUDY ON PRODUCTS OF
BAJAJ ALLIANZ LIFE INSURANCE”
PREPARED FOR AND PRESENTED TO
BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED
UNDER THE GUIDANCE

COMPANY GUIDE NAME UNIVERSITY GUIDE
NAME
Mr. ABHISHEK RANJAN DUBEY Mr. GAURAV BISARIA
B.D.M. LECTURER
SUBMITTED IN PARTIAL FULFILMENT FOR THE AWARD OF DEGREE OF

MASTERS OF BUSINESS ADMINSTRATION
BY
SAMARTHA SHUKLA
M.B.A
FINANCE
0800122094
INTEGRAL UNIVERSITY
DASAULI, KURSI ROAD, LUCKNOW- 226026 (U.P.) INDIA
PHONE: +91 522 2890812, 3096117, 6451039
2008-2009
BAJAJ ALLIANZ LIFE INSURANCE
COMPANY LIMITED
7TH FLOOR, SHALIMAR TOWERS,
VIBHUTI KHAND GOMTINAGAR
LUCKNOW-226010
CERTIFICATE BY THE COMPANY
THIS IS TO CERTIFY THAT “SAMARTHA SHUKLA” , STUDENT OF

M.B.A. FINANCE , INTEGRAL UNIVERSITY DID HIS SUMMER
TRAINING IN BAJAJ ALLIANZ LIFE INSURANCY COMPANY
LIMITED FROM 15 T H JUNE TO 13 T H AUGUST 2009.
Mr. ABHISHEK RANJAN DUBEY Mr. RAJESH KHANNA

B. D.M.
2
CERTIFICATE BY THE UNIVERSITY
This is to certify that “Samartha Shukla”, student of M.B.A.

Finance has done his summer training in Bajaj Allianz Life
Insurance Company Ltd. and prepared a project report on the topic
“Comparative Analysis of Bajaj Allianz Life Insurance Company
with other Companies”.
M.S. KHAN
Head of the Department
(Samartha Shukla)
3
ACKNOWLEDGEMENT
First of all I would like to thank the management at Bajaj Life
Insurance Company for giving me the opportunity to do my
summer training in their esteemed organization. I am highly
obliged to Mr. Abhishek Ranjan Dubey (Business Development
Manager) and Mr. Rajesh Khanna for granting me an
opportunity to undertake training in Gomtinagar Branch.
I express my thanks to all sales managers under whose able

guidance and direction, I was able to give shape to my training.
Their constant review and excellent suggestions throughout the
project are highly commendable.
My sincere thanks to all executives who helped me gain
knowledge about the actual working and processes involved in
various departments.
I am grateful to my teacher Mr. Gaurav Bisaria who has helped
in making this project. His valuable guidance has helped in
preparing this project.
(Samartha Shukla)
4
CONTENTS
S.NO. TOPICS Page No.

1). TITLE PAGE 1
2) CERTIFICATE BY THE COMPANY 2
3) CERTIFICATE BY THE UNIVERSITY 3
4) ACKNOWLEDGEMENT 4
5) EXECUTIVE SUMMARY 6
6) RESEARCH OBJECTIVES 10
7) MEANING OF INSURANCE 11
8) MEANING OF LIFE INSURANCE 16
9) HISTORY OF LIFE INSURANCE 18
10) BENEFITS OF LIFE INSURANCE 22
11) LIFE INSURANCE IS INSURANCE AS WELL AS 23
INVESTMENT
12) KINDS OF INSURANCE POLICIES 25
13) NATIONALISATION OF LIFE INSURANCE IN INDIA 30
14) INTRODUCTION ABOUT THE COMPANY 31
15) PRODUCTS OF BAJAJ ALLIANZ LIFE INSURANCE 40
16) RESEARCH METHODOLOGY 97
17) RESULT 102
18) SUGGESTIONS AND RECOMMENDATIONS 103
19) LIMITATIONS 104
20) BIBLIOGRAPHY 105
5
EXECUTIVE SUMMARY
Bajaj Allianz Life Insurance Co. Ltd. is a joint venture between

Allianz SE, one of the world's largest insurance companies, and
Bajaj Finserv. Allianz SE is a leading insurance corporation
globally and one of the largest asset managers in the world, that
manage assets worth over a Trillion. With over 115 years of
financial experience, Allianz SE is present in over 70 countries
around the world. Bajaj Allianz is into both life insurance and
general insurance. Today, Bajaj Allianz is one of India's leading
and fastest growing insurance companies. Currently, it has
presence in more than 550 locations with over 60,000 Insurance
Consultants.
In June 2008, Bajaj Allianz entered into partnership with Thomas

Cook India to provide travel finance. Bajaj Allianz Life Insurance
ensures excellent insurance and investment solutions by offering
customized products, supported by the best technology.
A comprehensive list of policies and products offered by Bajaj

Allianz Life Insurance Co. Ltd. is as follows:
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UNIT LINKED PENSION TRADITIONAL TERM PLANS
Regular Premium Annuity Endowment Protector
New UnitGain Pension InvestGain Term Care
Super Guarantee SaveCare New Risk Care
UnitGain Plus Economy SP
Gold Retirement Life Time Care
New UnitGain Future Income Super Saver
Plus Generator
New UnitGain Swarna Money Back
YoungCare Vishranti CashGain
YoungCare Plus New UnitGain
New Easy Pension
FamilyGain-R Plus RP
New UnitGain
Single Premium Easy Pension
New UnitGain Plus SP
Premier SP Future Secure
New UnitGain
Plus SP
WOMEN HEALTH CHILDREN PLAN JUST LAUNCHED

INSURANCE Care First ChildGain Family Assure
Miss Confident Health Care Fortune Plus
Plans Family CenturyPlus II
CareFirst UnitGain
Protection Plus
Invest Plus
Group Seva Plan
In my training Period, I have focused mainly on two products

of Bajaj Allianz Life
Insurance company: “New Family Gain and New Unit Gain”.
NEW FAMILY GAIN
In this product, the minimum premium which is to be paid by

the customer is Rs.5000.
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The maximum premium for this product is Rs.10000.The policy
term is 10 years.
The Sum Assured is Rs. 50000 or the Fund Value which ever is
higher.
It is a unit linked plan and the Lock-in period is 3 years. After 3

years the customer can withdraw 75% or whole amount but
surrender charges will be taken. After 5 years no surrender
charges will be charged.
In this product customer has the facility of getting a premium

holiday for 2 years after 3 years have been completed and if he
withdraws after 5 years he will get Rs. 30000.
The customer will get benefit of Section 80C and Section

10(10D) of Income tax. Under Section 80 C the customer will
get Tax rebate and under Section 10(10D) he will get tax free
maturity gains.
NEW UNIT GAIN
In this product, the minimum premium which is to be paid by

the customer is Rs.10000.
The maximum premium for this product has no limit. The

policy term is 10 years.
The Sum Assured is 5 times the premium amount or the Fund

Value which ever is higher.
It is a unit linked plan and the Lock-in period is 3 years. After 3

years the customer can withdraw 75% or whole amount but
surrender charges will be taken. After 5 years there are no
surrender charges
8
In this product customer has the facility of getting a premium
holiday for 2 years after 3 years have been completed and if he
withdraws after 5 years he will get Rs. 60000.
The customer will get benefit of Section 80C and Section

10(10D) of Income tax. Under Section 80 C the customer will
get Tax rebate and under Section 10(10D) he will get tax free
maturity gains.
Human Life Value Concept
This concept tells about value of a human life, particularly when

he/she is a earning member of the family. Suppose a person is 30
years old and has a fixed monthly income of Rs. 10000 and if
retires at the age of 60 then he will earn about 36 lakh in those 30
years. Unfortunately if he/she dies at the age of 32 his family
members will have a financial loss, so to minimize the loss
occurred due to the death of the earning member, one should have
insurance of about 36 lakh.
Fixed Deposit compared with Insurance

policy
In fixed deposit money is locked in for 5 or more years and in

Insurance Policy money is locked in only for 3 years.
In fixed deposit, at maturity TDS (Tax deduction at source) is

deducted but in Insurance policy, maturity amount is tax free under
Section 10(10D).
In fixed deposit the rate of return is about 8-10% but in Insurance

policy rate of return is 15% or more.
9
In Fixed deposit, no life insurance is given but in Insurance policy
life insurance is given.
In the training period, I have tried to inform people about the

products of Bajaj Allianz Life Insurance. I have met different
people like:
Salaried people
Businessmen
Chartered Accountants
Lawyers
Doctors
Engineers
Housewives
RESEARCH OBJECTIVES
1) To know the consumer responses about Bajaj Allianz
life insurance policy.
2) To know about the products of Bajaj Allianz Life
Insurance.
3) To know about the objections of people for not taking
the Insurance policy.
4) To know the need for Life Insurance.

5) To know the benefits of Life Insurance.
10
6) To know the market share of Bajaj Allianz Life
Insurance in the Market.
MEANING OF INSURANCE
Insurance may be described as a social device to
reduce or eliminate risk of loss to life and property.
Insurance is a collective bearing of risk. Insurance is
a financial device to spread the risks and losses of
few people among a large number of people, as
people prefer small fixed liability instead of big,
uncertain and changing liability.
Insurance can be defined as a “legal contract
between two parties whereby one party called
insurer undertakes to pay a fixed amount of money
on the happening of a particular event, which may be
certain or uncertain.” The other party called insured
pays in exchange a fixed sum known as premium.
Insurance is desired to safeguard oneself and one’s
family against possible losses on account of risks and
perils. It provides financial compensation for the
losses suffered due to the happening of any
unforeseen events.
IMPORTANCE OF INSURANCE
Insurance constitutes one of the major segments of

the financial market.
Insurance services play predominant role in the
process of financial intermediary. Today insurance
industry is one of the most growing sectors in India.
There is lot of potential in the Indian Insurance
Industry.
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There are many issues, which require study. The
scope of the study of Insurance industry of India
would be very great as there are ongoing
developments in the industry after the opening of the
sector.
The major issue right now is the hike in FDI (Foreign
Direct Investment) limit from 26% to 49% in the
insurance sector. In near future Government may
allow 49% FDI in Insurance. This would lead to more
capital inflow by foreign partners.
Another major issue is the effects on LIC after the

entry of private players in the market. Though
market share of LIC has been affected, it has
improved in terms of efficiency.
There are number of other hot topics like penetration
of Health Insurance, Rural marketing of insurance,
new distribution channels, new product ranges,
insurance brokers’ regulation, incentive scheme of
development officers of LIC etc. So it offers lot of
scope for studying the insurance industry.
Right now the insurance industry has great
opportunities in countries like India or China which
have huge population. Also the penetration of
insurance in India is very low in both life and non-life
segment so there is lot potential to be tapped.
Before starting the discussion on insurance industry
and related issues, we have to start with the basics
of insurance. So first we understand what is Insurance?
How the word ‘insurance’ is different from the word
‘Assurance’? etc.
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DIFFERENCE BETWEEN INSURANCE AND
ASSURANCE
Assurance is older in history and it was used to
describe all types of Insurance. From 1826, the term
assurance came to be used only for the risks covered
by life insurance and the term insurance was
exclusively used to denote the risks covered by
marine, fire, etc.
The word assurance indicated certainty. In life
insurance, there is an assurance from the insurance
company to make payment under the policy either
on the maturity or at earlier death. On the other
hand the word insurance was used to denote
indemnity type of insurance where the insurance
company was liable to pay only in case of the loss
damage the property.
The insured event was bound to happen sooner or
later under assurance but the event insured against
may or may not happen under insurance.
The principle of “indemnity” applies to “insurance
contracts” (non-life) only. The scope of the word,
insurance is wider.
PRINCIPLES OF INSURANCE
An insurance contract is based on some basic

principles of insurance.
(1) Principle of utmost good faith
It means “maximum truth”. Both the parties
should disclose
all material information regarding the subject
matter of
Insurance.
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(2) Principle of indemnity
This means that if the insured suffers a loss
against which the policy has been made, he shall be
fully indemnified only to the extent of loss. In other
words, the insured is not entitled to make a profit on
his loss.
(3) Principle of subrogation
This means the insurer has the right to stand in the
place of the insured after settlement of claims in so
far as the insured’s right of recovery from an
alternative source is involved. The insurer before the
settlement of the claim may exercise the right. In
other words, the insurer is entitled to recover from a
negligent third party any loss payments made to the
insured. The purposes of subrogation are to hold the
negligent person responsible for the loss and prevent
the insured from collecting twice for the same loss.
The concept of ‘Third Party Claims’ is based on the
same principle.
(4) Principle of causa proxima
The cause of loss must be direct and an insured one
in order to claim of compensation.
(5) Principle of insurable interest
The assured must have insurance interest in the life
or property insured. Insurable interest is that interest
which considerably alters the position of the assured
in the event of loss taking place and if the event does
not take placed, he remains in the same old position.
HISTORY OF INSURANCE
The concept of insurance is believed to have

emerged almost 4500 years ago in the ancient land
14
of Babylonia where traders used to bear risk of the
carvan by giving loans, which were later repaid with
interest when the goods arrived safely.
The concept of insurance as we know today took
shape in 1688 at a place called Lloyd’s Coffee House
in London where risk bearers used to meet to
transact business. This coffee house became so
popular that Lloyd’s became the one of the first
modern insurance companies by the end of the
eighteenth century.
Marine insurance companies came into existence by
the end of the
eighteenth century. These companies were
empowered to write fire and life insurance as well as
marine. The Great Fire of London in 1966 caused
huge loss of property and life. With a view to
providing fire insurance facilities, Dr. Nicholas Barbon
set up in 1967 the first fire insurance company
known
as the Fire Office.
The early history of insurance in India can be traced

back to the Vedas. The Sanskrit term ‘Yogakshema’
(meaning well being), the name of Life Insurance
Corporation of India’s corporate headquarters, is
found in the Rig Veda. The Aryans practiced some
form of ‘community insurance’ around 1000 BC.
Life insurance in its modern form came to India from
England in 1818. The Oriental Life Insurance
Company was the first insurance company to be set
up in India to help the widows of European
community. The insurance companies, which came
into existence between 1818 and 1869, treated
Indian lives as subnormal and charged an extra
15
premium of 15 to 20 percent. The first Indian
insurance company, the Bombay Mutual Life
Assurance Society, came into existence in 1870 to
cover Indian lives at normal rates.
The Insurance Act, 1938, the first comprehensive
legislation governing both life and non-life branches
of insurance were enacted to provide strict state
control over insurance business. This amended
insurance Act looked into investments, expenditure
and management of these companies.
By the mid- 1950s there were 154 Indian insurers, 16
foreign insurers, and 75 provident societies carrying
on life insurance business in India. Insurance
business flourished and so did scams, irregularities
and dubious investment practices by scores of
companies. As a result the government decided to
nationalize the life assurance business in India. The
Life Insurance Corporation of India (LIC) was set up in
1956. The nationalization of life
Insurance was followed by general insurance in 1972.
TIME LINE IN INSURANCE HISTORY (MAJOR

LANDMARKS)
1818: British introduced the life insurance to India
with the
establishment of the Oriental Life Insurance
Company
in Calcutta.
1850: Non life insurance started with Triton
Insurance
Company.
1870: Bombay Mutual Life Assurance Society is the
first India
owned life insurer.
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1912: The Indian Life Assurance Company Act
enacted to
regulate the life insurance business.
1938: The Insurance Act was enacted.
1956: Nationalization took place. Government took
over 245
Indian and foreign insurers and provident societies.
1972: Non-life business nationalized, General
Insurance
Corporation (GIC) came into being.
1993: Malhotra committee was constituted under
the
chairmanship of former RBI chief R. N. Malhotra to
draw a blue print for insurance sector reforms.
1994: Malhotra committee recommended reentry of
private players.
1997: IRDA (Insurance Regulatory and Development
Authority) was set up as a regulator of the insurance
market in India.
2000: IRDA started giving license to private insurers.
ICICI
Prudential, HDFC were first private players to sell
Insurance Policies.
2001: Royal Sundaram was the first non-life private
player to
sell an insurance policy.
2002: Bank allowed to sell insurance plans as TPAs
enter the
scene, insurers start setting non-life claims in the
cashless mode.
MEANING OF LIFE INSURANCE
17
There are three parties in a life insurance
transaction: the insurer, the insured, and the owner
of the policy (policyholder), although the owner and
the insured are often the same person.
Another important person involved in a life insurance
policy is the
beneficiary. The beneficiary is the person or persons
who will receive the policy proceeds upon the death
of the insured.
Life insurance may be divided into two basic classes
– term and permanent.
• Term life insurance provides for life insurance
coverage for a
specified term of years for a specified premium. The
policy does not
accumulate cash value.
• Permanent life insurance is life insurance that
remains in force until the policy matures, unless the
owner fails to pay the premium when it is due.
• Whole life insurance provides for a level premium,
and a cash value table included in the policy
guaranteed by the company. The primary advantages
of whole life are guaranteed death benefits,
guaranteed cash values, fixed and known annual
premiums, mortality and expense charges will not
reduce the cash value
shown in the policy.
• Universal life insurance (UL) is a relatively new
insurance product intended to provide permanent
insurance coverage with greater flexibility in
premium payment and the potential for a higher
internal rate of return. A universal life policy includes
a cash account. Premiums increase the cash account.
18
If you want insurance protection only, and not a
savings and investment product, buy a term life
insurance policy.
If you want to buy a whole life, universal life, or other
cash value policy, plan to hold it for at least 15 years.
Canceling these policies after only a few years can
more than double your Life insurance costs.
NEED FOR LIFE INSURANCE
You need Life Insurance because typically the need for income
continues for those who are financially dependent on you, but there
is no guarantee of your ability to earn consistently and for the rest
of your life. Life insurance can help you safeguard the financial
needs of your family.
This need has become even more important due to steady
disintegration of the prevalent joint family system, and emergence
of nuclear families. The need to protect your family's ever growing
needs is why you need Life Insurance.
Why Do I Need Life Insurance?

That’s a common question. Why would you need Insurance? Simply put,
Life brings with it many surprises, some pleasant and some not so and a Life
Insurance Plan ensures that you are better prepared to face uncertainties.
How? In a number of ways:
Protection
You need life insurance to be there and protect the people you love, making
sure that your family has a means to look after itself after you are gone. It is
a thoughtful business concept designed to protect the economic value of a
human life for the benefit of those financially dependent on him. That’s a
good reason.
Supposing you suffer an injury that keeps you from earning? Would you like
to be a financial burden on your family, already losing out on your salary?
With a life insurance policy, you are protected. Your family is protected.
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Retirement
Life insurance makes sure that you have regular income after you retire and
also helps you maintain your standard of living. It can ensure that your post-
retirement years are spent in peace and comfort.
Savings and Investments

Insurance is a means to Save and Invest. Your periodic premiums are like
Savings and you are assured of a lump sum amount on maturity. A policy
can come in really handy at the time of your child’s education or marriage!
Besides, it can be used as supplemental retirement income!
Tax Benefits
Life insurance is one of the best tax saving options today. Your tax can be
saved twice on a life insurance policy-once when you pay your premiums
and once when you receive maturity benefits. Money saved is money
earned!
HISTORY OF LIFE INSURANCE
Risk protection has been a primary goal of humans

and institutions
throughout history. Protecting against risk is what
insurance is all about. Over 5000 years ago, in China,
insurance was seen as a preventative measure
against piracy on the sea. Piracy, in fact, was so
prevalent, that as a way of spreading the risk, a
number of ships would carry a portion of another
ship's cargo so that if one ship was captured, the
entire shipment would not be lost.
In another part of the world, nearly 4,500 years ago, in the

ancient land of
20
Babylonia, traders used to bear risk of the caravan trade by
giving loans that
had to be later repaid with interest when the goods arrived
safely. In 2100
BC, the Code of Hammurabi granted legal status to the
practice. It
formalized concepts of “bottomry” referring to vessel
bottoms and
“respondentia” referring to cargo. These provided the
underpinning for
marine insurance contracts. Such contracts contained three
elements: a loan
on the vessel, cargo, or freight; an interest rate; and a
surcharge to cover the
possibility of loss. In effect, ship owners were the insured
and lenders were
the underwriters.
Life insurance came about a little later in ancient Rome,
where burial clubs
were formed to cover the funeral expenses of its members,
as well as help
survivors monetarily. With Rome's fall, around 450 A.D., most
of the
concepts of insurance were abandoned, but aspects of it did
continue through
the Middle Ages, particularly with merchant and artisan
guilds. These
provided forms of member insurance covering risks like fire,
flood, theft,
disability, death, and even imprisonment.
During the feudal period, early forms of insurance ebbed
with the decline
of travel and long-distance trade. But during the 14th to 16th
centuries,
transportation, commerce, and insurance would again
reemerge.
Insurance in India can be traced back to the Vedas. For
instance,
21
Yogakshema, the name of Life Insurance Corporation of
India's corporate
headquarters is derived from the Rig Veda. The term
suggests that a form of
"community insurance" was prevalent around 1000 BC and
practiced by the
Aryans.
And similar to ancient Rome, burial societies were formed in
the Buddhist
period to help families build houses, and to protect widows
and children.
Modern Insurance
Illegal almost everywhere else in Europe, life insurance in

England was
vigorously promoted in the three decades following the
Glorious Revolution
of 1688. The type of insurance we see today owes its roots
to 17th century
England. Lloyd's of London, or as they were known then,
Lloyd's Coffee
House, was the location where merchants, ship owners and
underwriters met
to discuss and transact business deals.
While serving as a means of risk-avoidance, life insurance
also appealed
strongly to the gambling instincts of England's burgeoning
middle class.
Gambling was so rampant, in fact, that when newspapers
published names of
prominent people who were seriously ill, bets were placed at
Lloyd’s on
their anticipated dates of death. Reacting against such
practices, 79 merchant
underwriters broke away in 1769 and two years later formed
a “New Lloyd’s
Coffee House” that became known as the “real Lloyd’s.”
Making wagers on
22
people's deaths ceased in 1774 when parliament forbade the
practice.
Insurance moves to America
The U.S. insurance industry was built on the British model.
The year 1735
saw the birth of the first insurance company in the American
colonies in
Charleston, SC. The Presbyterian Synod of Philadelphia in
1759, sponsored
the first life insurance corporation in America for the benefit
of ministers
and their dependents. And the first life insurance policy for
the general
public in the United States was issued, in Philadelphia, on
May 22, 1761.
But it wasn't until 80 years later (after 1840), that life
insurance really took
off in a big way. The key to its success was reducing the
opposition from
religious groups.
In 1835, the infamous New York fire drew people's attention
to the need to
provide for sudden and large losses. Two years later,
Massachusetts became
the first state to require companies by law to maintain such
reserves. The
great Chicago fire of 1871 further emphasized how fires can
cause huge
losses in densely populated modern cities. The practice of
reinsurance,
wherein the risks are spread among several companies, was
devised
specifically for such situations.
With the creation of the automobile, public liability
insurance, which first
made its appearance in the 1880s, gained importance and
acceptance?
More advancement was made to insurance during the
process of
23
industrialization. In 1897, the British government passed the
Workmen's
Compensation Act, which made it mandatory for a company
to insure its
employees against industrial accidents.
During the 19th century, many societies were founded to
insure the life and
health of their members, while fraternal orders provided low-
cost, members only insurance. Even today, such fraternal
orders continue to provide
Insurance coverage to members, as do most labour
organizations. Many
employers sponsor group insurance policies for their
employees, providing
not just life insurance, but sickness and accident benefits
and old-age
pensions. Employees contribute a certain percentage of the
premium for
these policies.
Final Thoughts
Even though the American insurance industry was greatly
influenced by
Britain, the US market developed somewhat differently from
that of the
United Kingdom. Contributing to that was America's size;
land diversity
and the overwhelming desire to be independent. As America
moved from a
colonial outpost to an independent force, from a farming
country to an
Industrial nation, the insurance business developed from a
small number of
companies to a large industry.
Insurance became more sophisticated, offering new types of
coverage and
diversified services for an increasingly complex country.
KEY FEATURES OF LIFE INSURANCE
1) Nomination: -
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When one makes a nomination, as the policyholder, one
continues to be the
owner of the policy and the nominee does not have any right
under the
policy as long as he/she is alive. The nominee has only the
right to receive the policy money in case of your death
within the term of the policy.
2) Assignment: -
If your intention is that your policy monies should go only to
a particular
person, you need to assign the policy in favor of that person.
3) Death Benefit: -
The primary feature of a life insurance policy is the death
benefit it provides.
Permanent policies provide a death benefit that is
guaranteed for the life of
the insured, provided the premiums have been paid and the
policy has not
been surrendered.
4) Cash Value: -
The cash value of a permanent life insurance policy is
accumulated
throughout the term of the policy. It equals the amount a
policy owner would
receive, after any applicable surrender charges, if the policy
were
surrendered before the insured's death.
5) Dividends: -
Many life insurance companies issue life insurance policies
that entitle the
policy owner to share in the company's divisible surplus.
6) Paid-Up Additions: -
Dividends paid to a policy owner of a participating policy can
be used in
numerous ways, one of which is toward the purchase of
additional coverage,
called paid-up additions.
7) Policy Loans: -
25
Some life insurance policies allow a policy owner to apply for
a loan against
the value of their policy. Either a fixed or variable rate of
interest is charged.
This feature allows the policy owner an easily accessible loan
in times of
need or opportunity.
8) Conversion from Term to Permanent: -
When in need of temporary protection, individuals often
purchase term life
insurance. If one owns a term policy, sometimes a provision
is available that
will allow her to convert her policy to a permanent one
without providing
additional proof of insurability.
9) Disability Waiver of Premium: -
Waiver of Premium is an option or benefit that can be
attached to a life
insurance policy at an additional cost. It guarantees that
coverage will stay in
force and continue to grow
BENEFITS OF LIFE INSURANCE

1) Risk cover: -
Life Insurance contracts allow an individual to have a risk
cover against any
unfortunate event of the future.
2) Tax Deduction: -
Under section 80C of the Income Tax Act of 1961 one can get
tax deduction
on premiums up to one lakh rupees. Life Insurance policies
thus decrease the
total taxable income of an individual.
3) Loans: -
An individual can easily access loans from different financial
institutions by
pledging his insurance policies.
4) Retirement Planning: -
26
What had provided protection against the financial
consequences of
premature death may now be used to help them enjoy their
retirement years.
Moreover the cash value can be used as an additional
income in the old age.
5) Educational Needs: -
Similar to retirement planning the cash values that flow from
ones life
Insurance schemes can be utilized for educational needs of
the insurer or his
children.
ROLE OF LIFE INSURANCE IN THE

GROWTH OF THE ECONOMY
The Life Insurance Industry has an enviable track record

among public
sector units. It has a Consistent profit and dividend paying
record
accompanied by a steady growth in its financial resources.
Through
investments in the Government sector and socially- oriented
sectors the
Industry has contributed immensely to the nation's
development. The
industry is recognized as one of the largest financial
Institutions in the
country. The ventures initiated by the industry in the areas of
Mutual
Fund, Housing Finance have done exceedingly well in recent
years. To protect the
country's foreign exchange reserves, the reinsurance
arrangement are so
organized that maximum retention is made possible within
the country while
at the same time protecting interests of the policy holders.
SECTION 45 OF THE INSURANCE ACT, 1938
27
“No policy of life insurance effected after the coming into
force of this Act shall, after the expiry of two years from the
date on which it was effected, be called in question by an
insurer on the ground that a statement made in the proposal
for insurance or in any report of a medical officer, or referee,
or friend of the insured, or in any other document leading to
the issue of the policy, was inaccurate or false, unless the
insurer shows that such a statement was on a material
matter or suppressed facts which it was material to disclose
and that it was fraudulently made by the policyholder and
that the policyholder knew at that time of making it that the
statement was false or that it suppressed facts which it was
material to disclose.”
PROHIBITION OF REBATE:
SECTION 41 OF THE INSURANCE ACT, 1938
“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.
Any person making default in complying with the provisions
of this section shall be punishable with a fine which may
extend to five hundred rupees.”
LIFE INSURANCE IS INSURANCE AS WELL AS

INVESTMENT
It is the special characteristic of life insurance that it not only provides
security but is also a form of investment. The insured not only wants to
secure his family from the risk of his death, but also wants to invest in the
long term insurance plan. Both these elements are possible in life insurance
28
because the insurance company promises to pay a fixed amount on the death
of the insured, or on his attaining a certain age.
Element of Protection: Life insurance is the best way of securing against

financial risks. The member of the family insures his life to provide affixed
amount security to his family in case of death and his family been secured
against any financial strain.
Financial problems not only arise on untimely death of the
earning member, but also when the earning member becomes old and his
energy to work reduces and so does his source of income also reduce. At this
stage, he wants to retire and lead a peaceful life. And if he has no source of
income at this time he shall have to depend on others, which is a very
pitiable stage in old age. That is why; a rational man always saves for his old
age, so that he doesn’t have to depend on others for maintaining himself. In
such plans, insurance holds the prime position due to the following reasons-
1) He makes savings in the form of life insurance. To pay a regular
premium he has to save necessarily. Though premium takes a
form of compulsory expense yet for depositing regular
premiums he has to develop a habit of saving.
2) The saving also remains secure in life insurance. The savings
kept in a bank account can be withdrawn anytime for expenses,
but the amount paid as premium can be received from the
insurance company only on attaining a certain age.
3) Life insurance is also a kind of indirect saving. The life
insurance policy cannot be forfeited by Income Tax department,
even after non-payment of income tax.
In this way, the element of economic security is present entirely in
a life insurance policy. It is both, an element of protection and a
helping hand in the old age.
Element of Investment: Life insurance also provides the benefit of

investment. The amount of premium consists, apart from the cost
of insurance, an amount of investment. This investment constantly
increases. And this amount of investment is called Life Fund and
represents the element of investment. The Life insurance
companies invest the amount of life fund to earn profits, and give
the benefits of such profits to the policy holder also. Firstly, while
determining the amount of net premium, the amount of interest is
deducted from the cost of insurance that constitutes interest from
the investment of premium fund. Then the insurance companies
29
distribute most of the part of their profits (up to 90%) to the
policyholders as bonus.
The investment in Life insurance policy is superior to
other kinds of investments because here there is no risk of loosing
money and there is no need to invest the whole amount at one time.
Life insurance can be called as the best kind of risk- free security,
on whose security, lending money is also possible. By
nationalization of Life insurance in our country, the insurance
policy is guaranteed by the government by which it has become
more secure.
KINDS OF LIFE INSURANCE POLICIES

Temporary Term Insurance
Term assurance: provides for life insurance coverage for a specified term of
years for a specified premium. The policy does not accumulate cash value.
Term is generally considered "pure" insurance, where the premium buys
protection in the event of death and nothing else.
There are three key factors to be considered in term insurance:
1. Face amount (protection or death benefit),

2. Premium to be paid (cost to the insured), and
3. Length of coverage (term).
Various insurance companies sell term insurance with many different

combinations of these three parameters. The face amount can remain
constant or decline. The term can be for one or more years. The premium
can remain level or increase. A common type of term is called annual
renewable term. It is a one year policy but the insurance company guarantees
it will issue a policy of equal or lesser amount without regard to the
insurability of the insured and with a premium set for the insured's age at
that time. Another common type of term insurance is mortgage insurance,
which is usually a level premium, declining face value policy. The face
amount is intended to equal the amount of the mortgage on the policy
owner’s residence so the mortgage will be paid if the insured dies.
A policy holder insures his life for a specified term. If he dies before that
specified term is up, his estate or named beneficiary receives a payout. If he
30
does not die before the term is up, he receives nothing. In the past these
policies would almost always exclude suicide. However, after a number of
court judgments against the industry, payouts do occur on death by suicide
(presumably except for in the unlikely case that it can be shown that the
suicide was just to benefit from the policy). Generally, if an insured person
commits suicide within the first two policy years, the insurer will return the
premiums paid. However, a death benefit will usually be paid if the suicide
occurs after the two year period.
Permanent Life Insurance
Permanent life insurance is life insurance that remains in force (in-line) until
the policy matures (pays out), unless the owner fails to pay the premium
when due (the policy expires OR policies lapse). The policy cannot be
canceled by the insurer for any reason except fraud in the application, and
that cancellation must occur within a period of time defined by law (usually
two years). Permanent insurance builds a cash value that reduces the amount
at risk to the insurance company and thus the insurance expense over time.
This means that a policy with a million dollar face value can be relatively
expensive to a 70 year old. The owner can access the money in the cash
value by withdrawing money, borrowing the cash value, or surrendering the
policy and receiving the surrender value.
The four basic types of permanent insurance are whole life, universal life,
limited pay and endowment.
Whole life coverage
Whole life insurance provides for a level premium, and a cash value table
included in the policy guaranteed by the company. The primary advantages
of whole life are guaranteed death benefits; guaranteed cash values, fixed
and known annual premiums, and mortality and expense charges will not
reduce the cash value shown in the policy. The primary disadvantages of
whole life are premium inflexibility, and the internal rate of return in the
policy may not be competitive with other savings alternatives. Also, the cash
values are generally kept by the insurance company at the time of death, the
death benefit only to the beneficiaries. Riders are available that can allow
one to increase the death benefit by paying additional premium. The death
benefit can also be increased through the use of policy dividends. Dividends
cannot be guaranteed and may be higher or lower than historical rates over
31
time. Premiums are much higher than term insurance in the short-term, but
cumulative premiums are roughly equal if policies are kept in force until
average life expectancy.
Cash value can be accessed at any time through policy "loans". Since these
loans decrease the death benefit if not paid back, payback is optional. Cash
values are not paid to the beneficiary upon the death of the insured; the
beneficiary receives the death benefit only. If the dividend option: Paid up
additions is elected, dividend cash values will purchase additional death
benefit which will increase the death benefit of the policy to the named
beneficiary.
Universal life coverage
A universal life insurance policy includes a cash account. Premiums increase

the cash account. Interest is paid within the policy (credited) on the account
at a rate specified by the company. Mortality charges and administrative
costs are then charged against (reduce) the cash account. The surrender value
of the policy is the amount remaining in the cash account less applicable
surrender charges, if any.
With all life insurance, there are basically two functions that make it work.
There's a mortality function and a cash function. The mortality function
would be the classical notion of pooling risk where the premiums paid by
everybody else would cover the death benefit for the one or two who will die
for a given period of time. The cash function inherent in all life insurance
says that if a person is to reach age 95 to 100 (the age varies depending on
state and company), then the policy matures and endows the face value of
the policy.
Actuarially, it is reasoned that out of a group of 1000 people, if even 10 of

them live to age 95, then the mortality function alone will not be able to
cover the cash function. So in order to cover the cash function, a minimum
rate of investment return on the premiums will be required in the event that a
policy matures.
Universal life insurance addresses the perceived disadvantages of whole life.

Premiums are flexible. Depending on how interest is credited, the internal
rate of return can be higher because it moves with prevailing interest rates
(interest-sensitive) or the financial markets (Equity Indexed Universal Life
and Variable Universal Life). Mortality costs and administrative charges are
32
known. And cash value may be considered more easily attainable because
the owner can discontinue premiums if the cash value allows it. And
universal life has a more flexible death benefit because the owner can select
one of two death benefit options, Option A and Option B.
Option A pays the face amount at death as it's designed to have the cash
value equal the death benefit at maturity (usually at age 95 or 100). With
each premium payment, the policy owner is reducing the cost of insurance
until the cash value reaches the face amount upon maturity.
Option B pays the face amount plus the cash value, as it's designed to
increase the net death benefit as cash values accumulate. Option B offers the
benefit of an increasing death benefit every year that the policy stays in
force. The drawback to option B is that because the cash value is
accumulated "on top of" the death benefit, the cost of insurance never
decreases as premium payments are made. Thus, as the insured gets older,
the policy owner is faced with an ever increasing cost of insurance (it costs
more money to provide the same initial face amount of insurance as the
insured gets older)
Limited-pay
Another type of permanent insurance is Limited-pay life insurance, in which

all the premiums are paid over a specified period after which no additional
premiums are due to keep the policy in force. Common limited pay periods
include 10-year, 20-year, and paid-up at age 65.
Endowments
Endowments are policies in which the cash value built up inside the policy,
equals the death benefit (face amount) at a certain age. The age this
commences is known as the endowment age. Endowments are considerably
more expensive (in terms of annual premiums) than either whole life or
universal life because the premium paying period is shortened and the
endowment date is earlier.
In the United States, the Technical Correct Limited-pay
Another type of permanent insurance is Limited-pay life insurance, in which

all the premiums are paid over a specified period after which no additional
33
premiums are due to keep the policy in force. Common limited pay periods
include 10-year, 20-year, and paid-up at age 65.
Endowments
Endowments are policies in which the cash value built up inside the policy,
equals the death benefit (face amount) at a certain age. The age this
commences is known as the endowment age. Endowments are considerably
more expensive (in terms of annual premiums) than either whole life or
universal life because the premium paying period is shortened and the
endowment date is earlier.
In the United States, the Technical Corrections Act of 1988 tightened the
rules on tax shelters (creating modified endowments). These follow tax rules
as annuities and IRAs do.
Endowment Insurance is paid out whether the insured lives or dies, after a
specific period (e.g. 15 years) or a specific age (e.g. 65).
Accidental Death
Accidental death is a limited life insurance that is designed to cover the

insured when they pass away due to an accident. Accidents include anything
from an injury, but do not typically cover any deaths resulting from health
problems or suicide. Because they only cover accidents, these policies are
much less expensive than other life insurances.
It is also very commonly offered as "accidental death and dismemberment

insurance", also known as an AD&D policy. In an AD&D policy, benefits are
available not only for accidental death, but also for loss of limbs or bodily
functions such as sight and hearing, etc.
Accidental death and AD&D policies very rarely pay a benefit; either the
cause of death is not covered, or the coverage is not maintained after the
accident until death occurs. To be aware of what coverage they have, an
insured should always review their policy for what it covers and what it
excludes. Often, it does not cover an insured that puts himself at risk in
activities such as: parachuting, flying an airplane, professional sports, or
involvement in a war (military or not). Also, some insurers will exclude
death and injury caused by proximate causes due to (but not limited to)
racing on wheels and mountaineering.
34
Accidental death benefits can also be added to a standard life insurance
policy as a rider. If this rider is purchased, the policy will generally pay
double the face amount if the insured dies due to an accident. This used to be
commonly referred to as double indemnity coverage. In some cases, some
companies may even offer a triple indemnity cover.
NATIONALISATION OF LIFE INSURANCE IN INDIA
On 19th January, 1956, the Indian Government issued an emergency

ordinance, whose objective was to nationalize life insurance. As a result of
this ordinance, the business of life insurance which was in the hands of
private sector organizations at that time now came in the hands of the
Government of India.
At the time of nationalization, in our country 154 Indian Insurance

companies, 16 foreign insurance companies and 75 private insurance
societies were working in the Insurance business.
In June 1956, an Act by the name of Life Insurance Corporation Act, 1956
was passed in the Parliament, which came into force from 1st July 1956 in
India. As a result of this Act, a Government organization was established
which is known as ‘Life Insurance Corporation of India’. The Life Insurance
Corporation started the insurance business from 1st September, 1956.
REASONS OR OBJECTIVES OF NATIONALISATION

1) To arrange funds for Five Year Plans of the Government of
India.
2) To widely propagate Life Insurance even in villages and small
towns.
3) To eliminate unhealthy competition among Private Insurance
Companies.
4) To end mismanagement, spread in Private Insurance
Companies.
5) To increase the per person insured amount.
6) To establish a socialist society, to give maximum benefits to the
society.
7) To reduce the wasteful administrative expenses of the Private
Insurance Companies.
8) To secure the interests of small insured persons.
35
9) To create a sense of saving among people.
10)To utilize the ‘Life Insurance Fund’ properly.
11) To end the delays in payments on maturity to insured by Private
Insurance Companies.
12)To decentralize economic and financial power from the hands
of Private Insurance Companies.
INTRODUCTION ABOUT THE COMPANY

Bajaj Allianz Life Insurance is a union between Allianz SE, one of the
largest Insurance Company and Bajaj Finserv. (recently demerged from
Bajaj Auto.)
Allianz SE is a leading insurance conglomerate globally and one of the

largest asset managers in the world, managing assets worth over a Trillion
(Over INR. 55, 00,000 Crores). Allianz SE has over 115 years of financial
experience and is present in over 70 countries around the world.
At Bajaj Allianz Life Insurance, customer delight is our guiding principle.

Our business philosophy is to ensure excellent insurance and investment
solutions by offering customized products, supported by the best technology.
It started in 2001.
Financial services arm's profit rises to Rs 42 crore

BS Reporter / Mumbai July 16, 2009, 0:40 IST
Bajaj Finserv, the financial services arm of the Bajaj Group, posted a net
profit of Rs 42 crore for the quarter ended June 30, 2009. It had posted a loss
of Rs 36 crore in the corresponding period last year.
The group’s life insurance arm, Bajaj Allianz Life Insurance Company, was
the biggest contributor to the firm’s income. Bajaj Allianz has posted a profit
of Rs 68 crore in the June quarter. In the year-ago quarter, it had posted a
loss of Rs 3 crore.
36
Gross written premium for the quarter rose 40 per cent to Rs 2,001 crore as
against Rs 1,847 crore in the corresponding period last year. Renewal
premium, too, increased to Rs 1,423 crore as against Rs 1,018 crore in the
quarter ended June 30, 2008. However, new business premium fell 42.28 per
cent to Rs 577 crore.
ALLIANZ GROUP
Allianz Group is one of the world's leading insurers and financial services
providers.
Founded in 1890 in Berlin, Allianz is now present in over 70 countries with

almost 174,000 employees. At the top of the international group is the
holding company, Allianz AG, with its head office in Munich.
Allianz Group provides its more than 60 million customers worldwide with
a comprehensive range of services in the areas of
• Property and Casualty Insurance,
• Life and Health Insurance,
• Asset Management and Banking.
• ALLIANZ AG- A GLOBAL FINANCIAL POWERHOUSE
• Worldwide 2nd by Gross Written Premiums - Rs.4, 46,654 crore.
• 3rd largest Assets under Management (AUM) & largest amongst
Insurance cos. - AUM of Rs.51, 96,959 crore.
• 12th largest corporation in the world
37
• 49.8 % of global business from Life Insurance
• Established in 1890, 110 yrs of Insurance expertise
• 70 countries, 173,750 employees worldwide
BAJAJ GROUP
Bajaj Auto Ltd, the flagship company of the Rs. 8000 crore Bajaj group is
the largest manufacturer of two-wheelers and three-wheelers in India and
one of the largest in the world.
A household name in India, Bajaj Auto has a strong brand image & brand
loyalty synonymous with quality & customer focus.
A STRONG INDIAN BRAND- HAMARA BAJAJ

• One of the largest 2 & 3 wheeler manufacturer in the world
• 21 million+ vehicles on the roads across the globe
• Managing funds of over Rs 4000 cr.
• Bajaj Auto finance one of the largest auto finance cos. in India
• Rs. 4,744 Cr. Turnover & Profits of 538 Cr. in 2002-03
• It has joined hands with Allianz to provide the Indian consumers with
a distinct option in terms of life insurance products.
• As a promoter of Bajaj Allianz Life Insurance Co. Ltd., Bajaj Auto
has the following to offer -
• Financial strength and stability to support the Insurance Business.
• A strong brand-equity.
38
• A good market reputation as a world class organization.
• An extensive distribution network.
• Adequate experience of running a large organization.
Accelerated Growth
Fiscal Year No. of policies sold New Business in FY
2001-2002(6 months) 21,37 Rs. 7 cr.
2002-2003 1,15,965 Rs. 63.3 cr.
2003-2004 1,86,443 Rs. 180 cr.
2004-2005 2,88,189 Rs. 857 cr.
2005-2006 7,81,685 Rs. 2,717 cr.
2006-2007 20,79,217 Rs. 4,302 cr.
2007-2008 37,44,742 Rs. 6,674 cr.
Mission of the company
India has 102 crore population but only 16 crore people are insured till now.
Still 86 crore
People are yet to be insured. Also in broader perspective, company wants to
make every person get benefited through investing in Bajaj Allianz Life
Insurance.
The Company is focusing on improving employee productivity, policy
persistency, operational processes and service levels.
Vision of the Company
1) To be the first choice insurer for customers.
2) To be the preferred employer for staff in Insurance industry.
3) To be the number one insurer for creating shareholder value
4) To aspire to be a world class organization.
39
5) To encourage organizational transparency.
6) To value integrity.
HISTORY OF THE COMPANY

Bajaj Allianz Life Insurance Co. Ltd.is a joint venture between two leading
conglomerates- Allianz AG, one of the world's largest insurance companies,
and Bajaj Auto, one of the biggest 2 and 3 wheeler manufacturers in the
world. Characterized by global presence with a local focus and driven by
customer orientation to establish high earnings potential and financial
strength, Bajaj Allianz Life Insurance Co. Ltd. was incorporated on 12th
March 2001. The company received the Insurance Regulatory and
Development Authority (IRDA) certificate of Registration (R3) No 116 on
3rd August 2001 to conduct Life Insurance business in India. Bajaj Auto Ltd,
the flagship company of the Rs. 8000 crore Bajaj group is the largest
manufacturer of two-wheelers and three-wheelers in India and one of the
largest in the world. A household name in India, Bajaj Auto has a strong
brand image & brand loyalty synonymous with quality & customer focus.
With over 15,000 employees, the company is a Rs. 4000 crore auto giant, is
the largest 2/3-wheeler manufacturer in India and the 4th largest in the
world. AAA rated by Crisil, Bajaj Auto has been in operation for over 55
years. It has joined hands with Allianz to provide the Indian consumers with
a distinct option in terms of life insurance products.
Details of the Company
Managing Director and CEO – Mr. Kamesh Goyal
40
Sashi Krishnan, CIO,
Bajaj Allianz Life Insurance
C.F.O. – Mr. Rajesh Viswanathan
Head, Marketing- Mr. Sanjay Jain
BOARD OF DIRECTORS:
Mr. Rahul Bajaj (Chairman)
Dr. Werner Zedelius
Mr. Sanjay Asher
Mr. Niraj Bajaj
41
Mr. Sanjiv Bajaj
Mr. Heinz Dollberg
Mr. Ranjit Gupta
Mr. S. H. Khan
Mr. Suraj Mehta
Mr. Dietmar Raich
Mr. Manu Tandon
Mr. Kamesh Goyal (Alternate Director to Dr. Werner Zedelius)
Address
Branch Address: Bajaj Allianz Life Insurance Co. Ltd.

Shalimar Towers, TC-57N Vibhuti Khand
Gomtinagar, Lucknow-226010.
Telephone: (+91 522) 6450751
Head Office Address:

Bajaj Allianz Life Insurance Company Limited
GE Plaza, Airport Road, Yerawada, Pune-411006 Maharashtra
Telephone: (+91 20) 66026777
CHANNEL PARTNERS OF BAJAJ ALLIANZ
Standard Chartered Bank
Contact Number :
022 2492 8888
E-mail Address:
customer.care@in.standardchartered.com
42
Syndicate Bank
Contact Number :
020 4026 742
E-mail Address: insurancediv@syndicatebank.net
www.syndicatebank.com
Placement Sales and Services Ltd.
Contact Number :
0487-2388666,2385922 Tele Fax -
2388666
E-mail Address:
placementss@rediffmail.com
Address: Regency Centre, Kalavary Road,
West Fort, Thrissur –4 Kerala, India
Team Life Care Co. (India) Ltd.
Contact Number :
0427 - 2410707; 2420707; Tele Fax -
2421245
Address: 5/118, Yercaud Main Road,
www.teamlifecare.in Chinnakollapatti, SALEM - 636008.
Ernestine Consultants Pvt Ltd.
Contact Number :
080- 4034 1999 Fax- 080 - 4034 1920
Address: 1011, Ist Floor 3rd Cross, 13th
Main HAL 2nd Stage, Indira Nagar
Bangalore-560038
COSMOS Co-op BANK Ltd.
Contact Number : 020 2488051
E-mail Address : info@cosmosbank.in

www.cosmosbank.com
43
Organizational chart
Branch Manager
V
V
Business Development Manager (B.D.M.)
V
V
Assistant Business Development Manager (A.B.D.M.)
V
V
Insurance Sales Officer (I.S.O.)
PRODUCTS OF BAJAJ ALLIANZ LIFE INSURANCE

1) BAJAJ ALLIANZ NEW FAMILYGAIN
44
The thumb rule for buying insurance is that your insurance needs are
minimal in your early earning years, increases with added responsibilities
(Marriage, children, loans etc.) and taper off by the time you retire. It is
difficult to find a single insurance plan that can take care of all your
changing requirements in life additional protection, more money to invest,
sudden requirement of cash or a steady post-retirement income.
With Bajaj Allianz New Family Gain, you can invest in one life insurance
plan that can take care of all your changing requirements. This plan has been
designed to provide you with maximum flexibility, so that you do not have
to worry about your changing needs.
The Bajaj Allianz New Family Gain comes with a host of features to allow
you to have the best of all worlds - Protection and Investments. It enables
every participant to create a solid financial protection and savings plan for
himself and his family. In this way, as a participant in the Bajaj Allianz New
Family Gain Plan, you can secure your well-being and accumulate savings
towards financial independence and a comfortable retirement.
The Key Features of the New Family Gain Plan are:
• It is a unit linked Endowment type plan with a minimum term of 10 years

and maximum maturity age 70 years.
• Guaranteed death benefit: Sum Assured Plus Fund Value of Units.
• You have the option to choose a host of additional rider benefits: UL
Accidental Death Benefit, UL Accidental Permanent Total/Partial Disability
Benefit.
• It provides you with an easy, regular contribution mechanism to assist you
in accumulating funds.
• You can select an investment strategy to grow the funds contributed.
• Choice of 7 investment funds today with flexible investment management:
you can change funds at any time and also invest in the newer funds that
would be introduced from time to time.
The premiums allocated are invested in fund/funds of your choice

(depending on the allocation rate) and units are allocated depending on the
price of units for the fund/funds. The value of your policy is the total value
of units that you hold in the fund/funds. The insurance cover charges, policy
administration charges and the additional rider benefit charges are deducted
through monthly cancellation of units. The Fund Management Charge is
priced in the unit value.
45
You can choose a Sum Assured (Level of Protection) that you want in the
New Family Gain Plan.
Minimum Sum Assured = 5 times of Annualized Premium
Maximum Sum Assured = Policy Term times of Annualized Premium
Death Benefit:
The death benefit will be
1) On death before attaining the age of 7 year: The death benefit will be the
NAV of the units in the policyholder's account (Fund Value) as on date of
receipt of intimation of death at the office. The policy terminates on the
death of the life assured.
2) On death on or after attaining the age of 7 years: The death benefit will be
the sum assured plus the NAV of the units in the policyholder's account
(Fund value) as on date of receipt of intimation of death at the office.
Maturity Benefit
On maturity, the NAV of units in the fund will be paid out and the policy
will terminate.
Additional Rider Benefits available with

New Family Gain
You have the option to add the following additional rider benefits, providing
total protection against uncertainties.
• UL Accidental Death Benefit
• UL Accidental Permanent Total & Partial Disability Benefit
(Please refer to the brochure on additional rider benefits for more details.)
Assured protection even if you miss payment of your premiums
Bajaj Allianz New Family Gain provides you with the unique feature of
continued protection even if you forget to pay your premiums. After
payment of 3 full years' premiums, when premiums due are not paid the
46
policy will be kept in-force, with full insurance benefits by way of deducting
units for the Cost of Insurance and all other charges, provided the Fund
Value less surrender charge, if any does not falls to an amount equivalent to
one annual premium under the policy.
Bajaj Allianz New Family Gain offers you a choice of 7 funds. You can
choose to invest fully in any one fund or allocate your premiums into the
various Funds in a proportion that suits your investment needs.
TAX BENEFITS
Premiums paid and benefits received will be eligible for tax benefits as per
applicable tax laws.
As per the current tax laws:
Premiums payable are eligible for tax benefits as per Section 80C of the
Income Tax Act.
Partial Withdrawals, Surrender Value, Death Benefit and Maturity Benefit
are eligible for tax benefits as per Section 10(10D) of the Income Tax Act.
In case of change in any tax laws relevant to the policyholder or the fund
performance, the same will be applied as per regulations prevailing at that
point of time.
RISK OF INVESTMENT UNDER UNIT LINKED PLANS
The Proposed/Life Assured is aware that the investment in the Units is

subject to the following, amongst other risks and agrees that he is making
the investment in the Units with full knowledge of the same.
• Unit Linked Life Insurance products are different from the traditional
insurance products and are subject to the risk factors.
• The premium paid in unit linked life insurance policies are subject to
investment risks associated with capital markets and the Unit Price of the
units may go up or down based on the performance of the fund and factors
influencing the capital market and the insured/policyholder are responsible
for his/her decisions.
• Bajaj Allianz Life Insurance is only the name of the insurance company
and Bajaj Allianz New Family Gain is only the name of the policy and does
not in
any way indicates the quality of the policy, its future prospects or returns.
• Please know the associated risks and the applicable charges from your
policy document or by consulting the Company, your Insurance agent or
your Insurance intermediary.
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• Pure Stock Fund, Equity Index Fund II, Bond Fund, Asset Allocation Fund,
Accelerator Mid-Cap Fund, Equity Growth Fund and Liquid Fund are the
names of the funds offered currently with Bajaj Allianz New Family Gain,
and in any manner do not indicate the quality of the respective funds, their
future prospects or returns.
• The investments in the Units are subject to market and other risks and there
can be no assurance that the objectives of any of the funds will be achieved.
• Pure Stock Fund, Equity Index Fund II, Bond Fund, Asset Allocation Fund,
Accelerator Mid-Cap Fund, Equity Growth Fund and Liquid Fund do not
offer a guaranteed or assured return.
• All benefits payable under the Policy are subject to the tax laws and other
financial enactments, as they exist from time to time.
• The past performance of other funds of the company is not necessarily
indicative of the future performance of any of these funds.
Important details of the plan:

Minimum Age at Entry: 0 years(Risk commences at age 7)
Maximum Age at Entry: 60 years
Minimum Age at Maturity: 18 years
Maximum Age at Maturity: 70 years
Minimum Term: 10 years. For minor lives: 18 minus age at entry of minor
life subject to minimum of 10 years.
The minimum age at entry for all additional rider benefits is 18 years.
The maximum age at entry for all additional rider benefits is 50 years.
For your convenience, we have provided 3 premium payment modes that

can be Yearly, Half-Yearly, and Quarterly. We also offer a Monthly premium
payment mode with salary deduction schemes or ECS. The minimum
premium is Rs. 5000 for the Yearly Mode, Rs. 2,500 for Half Yearly, Rs.
1,250 for Quarterly and Rs. 500 for the Monthly Mode. In addition, you also
have the option to pay topups to increase your investments. The minimum
top-up premium is Rs. 1,000.
If any due regular premium is not paid within the days of grace in the first
three policy years, the policy shall lapse. The policyholder will get an
opportunity to revive the policy within two years from the date of first
unpaid premium, and if he does not revive during this period the contract
shall be terminated and the surrender value will be the fund value as on date
of lapse less surrender charge, if any. This would be paid on the expiry of the
revival period or three policy years, whichever is later.
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If policy is lapsed and death occurs during this period, the fund value as on
date of lapse would be paid and the policy will terminate immediately.
If all the due premiums have been paid for at least first three consecutive
years and subsequent premiums are unpaid, you will be given an opportunity
to revive the policy within two years from the first unpaid premium. During
this limited period for revival, the insurance covers under the policy shall
continue levying all appropriate charges by cancellation of units at the
prevailing unit price to meet the mortality charge and other expense charges
until the Fund value in respect of Regular Premium less surrender charge, if
any, falls to an amount equivalent to one annual premium (NAV) across all
the funds.
At the end of two years i.e. period for revival, if the contract is not revived,
you can opt to continue the insurance cover under the policy subject to
deduction of all charges until the Fund value in respect of Regular Premium
less surrender charge, if any, falls to an amount equivalent to one annual
premium (NAV) across all the funds.
If you do not opt to continue with the insurance cover after the revival
period, the contract shall be terminated by paying the fund value as on date
of termination less surrender charge, if any.
When the Fund value in respect of Regular Premium less surrender charge,
if any, falls to an amount equivalent to one annual premium you will be
notified about this and the contract shall be terminated by paying the fund
value as on date of termination less surrender charge, if any.
2) NEW UNIT GAIN

This product is similar to New Family Gain but in this product the minimum
premium that is to be paid is Rs. 10, 000 and there is no limit for maximum
premium. The Sum assured is five times the premium amount.
Both these products (New Family Gain and New Unit Gain) were started
from 1st July 2006.
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Key highlights of Bajaj Allianz New Unit Gain
 Your investment, apart from normal allocation receives Loyalty units

Equivalent to 51% of the first year’s Annualized Premium over a period of
10 years.
 Choice of 2 investment portfolio strategies to manage your investments
Better.
 Your Policy continues to participate in the investment performance of the
fund(s), even if you are not able to pay 3 full years’ premiums.
 Maximum flexibility:
• Option to increase the premium
• Partial withdrawal anytime after 3 years from the commencement of
the policy, provided 3 years’ regular premiums have been paid.
• Three free switches every year.
• Option to pay unlimited top-up premiums anytime during the tenure
of the policy, to further enhance your savings.
o Three simple terms to choose from: 15, 20 and 25 years.
o A host of additional rider benefits to provide you with
additional protection.
o Guaranteed Life Cover, with flexibility to choose insurance
cover to suit your changing needs.
3) PENSION GUARANTEE
Your date of retirement is closing in. You want something

that gives you an assured income long after you’re retired.
We at Bajaj Allianz Life Insurance are aware of this need, and
have come up with a plan that lasts you for a lifetime. Invest
your savings in the Bajaj Allianz Pension Guarantee, a plan
that gives you a guaranteed income, till
your time comes.
The “Bajaj Allianz Pension Guarantee” Plan

With Bajaj Allianz Pension Guarantee, you can ensure a
regular income after retirement.
The plan offers you a range of immediate annuities to
choose from. The immediate annuities available are:
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• Bajaj Allianz Pension Guarantee- Life Annuity: Annuity for
Life
• Bajaj Allianz Pension Guarantee-: Annuity Guaranteed for 5
years and life thereafter
• Bajaj Allianz Pension Guarantee-: Annuity Guaranteed for
10 years and life thereafter
• Bajaj Allianz Pension Guarantee-Return of Capital: Annuity
for life with Return of
Capital (Purchase Price)
How does “Bajaj Allianz Pension Guarantee” work?
All you have to do is pay a lump sum amount to Bajaj Allianz
Life Insurance Company and the annuity payments will start
after expiry of monthly/quarterly/half-yearly/ yearly interval
corresponding to the payment mode selected by you. Under
all the options, annuity is payable for life, so you do not have
to worry about your income stopping at any stage. Under the
Return of Capital option (option 6 above), the amount used
to purchase the annuity is paid to the nominee on the death
of the annuitant.
Important details of the “Bajaj Allianz Pension Guarantee”

Plan
Minimum Age at Entry 45
Maximum Age at Entry 80
Minimum Purchase Price Rs. 25,000
Minimum Annuity Installment Rs. 1,000
Annuity Frequency Mode

For your convenience we have provided 4 Annuity Frequency
Modes that can be Yearly, Half yearly, Quarterly or Monthly.
The annuity will be payable one month/quarter/half
year/year after the date of purchase depending on the mode
selected.
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The Sample Annuity Rate per annum per Rs.1 lakh of
purchase price is given below. The annuity rate varies
between different purchase price bands.
Tax Benefits
The policy will be eligible for tax benefits under Section 80C
of the Income Tax Act as of now.
4) BAJAJ ALLIANZ PROTECTOR
Dreams and Aspirations - we are constantly driven in our

pursuit of these. House, Consumer Durables, visits to exotic
locations are some of the dreams we live for. And the best
way to fulfill them is through easy loans available at today’s
low interest rates. With small equated monthly installments,
the price is not too heavy.
Yet, who can predict the unfortunate twists and turns in life?
And in case of unfortunate death of the loanee, the burden
of repayment falls on the family. Bajaj Allianz Protector is the
perfect plan to protect your family from the repayment
liability of outstanding loans. All this at a very nominal cost.
Now, is there a better way to provide for your family’s
financial security?
The Bajaj Allianz Protector Plan

The Bajaj Allianz Protector Plan is a mortgage term insurance
plan that covers the outstanding principal amount of a loan.
It is an economical way to protect the family from the burden
of repayment of the loan in case of death of the loanee. The
plan is designed to pay a sum insured that will be equal to
the outstanding principal amount of the loan due.
The Bajaj Allianz “Protector” Plan offers you the convenience
of choosing between two premium payment options
• Regular Premium Payment - Premium payment limited to
approximately 2/3rd of the loan tenure, while coverage
continues for the full tenure of the loan.
• Single Premium Payment - One time premium payment
covering you for the full tenure of the loan.
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Joint life availability
You have the option to cover the co-applicant of the loan
under this plan. Under this option, both lives will be covered
and the death benefit will be payable in case of death of
either life. The policy terminates on death of either life.
Benefits Payable
Death Benefit
The death benefit is equal to the outstanding principal
amount of the loan due as per the loan schedule,
irrespective of changes in interest rate/term at a later stage.
The outstanding amount of loan due will depend on the loan
amount, loan tenure and interest rate as agreed upon at the
time of disbursement of the loan.
Important details of the ‘Bajaj Allianz Protector’ Plan
Eligibility Condition
Minimum Sum Assured Rs. 2, 00,000
Maximum Sum Assured No Limit
Minimum Age at Entry 20 Yrs
Maximum Age at Entry 55 Yrs
Maximum Age at Policy Expiry Date 65 Yrs
Minimum Term for Single Premium 2 Yrs
Minimum Term for Regular Premium 5 Yrs
Maximum Term (Regular and Single Premium) 30 Yrs
Premium Payment Mode

For your convenience we have provided 5 Premium Payment
Modes that can be single premium, yearly, half-yearly,
quarterly or monthly. The premium for frequencies other
than yearly mode is the annual premium multiplied with the
frequency factor (0.51 for the half yearly mode, 0.26 for the
quarterly mode, and 0.09 for the monthly mode). Monthly
mode is permitted only by salary deduction or direct bank
debit. The minimum premiums are Rs. 2500 for the Single
Premium, Rs. 1000 for the annual mode, Rs. 700 for the half-
yearly mode, Rs. 450 for quarterly mode and Rs. 175 for
monthly.
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Tax Benefits
Tax benefits under Section 80C and Section 10(10)D
available as per applicable tax laws. All payments due under
this plan shall be governed by tax laws applicable at that
point of time.
Surrender values/Paid up Values
There are no surrender values or paid-up values under this
plan.
Loans
Loans are not available under this plan
Change of Occupation
On change of occupation, depending upon the nature of the
new occupation, the premiums and benefits may be
modified.
Days of Grace
In case of non-payment of premiums, a grace period of 30
days will be allowed for the yearly, half yearly and quarterly
modes (15 days for the monthly mode). After that the policy
will lapse.
Revival of the Policy
It is possible to revive a policy that has lapsed due to non-
payment of premiums within 5 years from the date of lapse.
The revival will be effected subject to underwriting. In case
of joint life, revival would be subject to underwriting on both
lives.
General Exclusion
In case the life assured (in case of joint life, either of the life
assured) commits suicide within one year from the date of
commencement / reinstatement of the policy, the benefits of
the plan would not be payable, and the premiums would be
refunded.
5) TERM CARE
Life Insurance.....
At the back of our minds we are often nagged by certain
fears, the fears of an uncertain future, the insecurity of not
54
being able to provide adequately for our loved ones, the fear
of not being able to save enough. Life Insurance is the only
complete answer to these fears. It is life insurance that
provides you with the security of a financial safety net and
enables you to plan for unpredictable adversities. Happiness
often sneaks in through a door you didn't know you left
open. Let life insurance be that door for you.
The 'Bajaj Allianz Term Care' Plan

The 'Bajaj Allianz Term Care' Plan is a term insurance plan. It
is an economical way of providing for one's life cover and at
the same time ensuring that the premiums paid are returned
at maturity.
What does the 'Bajaj Allianz Term Care' Plan offer you?
This plan not only offers you life insurance cover at a low
cost, but also provides for return of premiums on maturity.
The premiums returned at maturity will be equal to the
single premium or the sum total of equivalent annual
premiums of the Economy Pack (excluding extra premiums
charged, if any). In case of pre-mature death during the
policy term, the full Sum Assured will be paid to the
nominee.
The 'Bajaj Allianz Term Care' Plan offers you the convenience
of choosing between two premium payment options.
• Regular Premium Payment - Premium payment throughout

the selected term.
• Single Premium Payment - One time premium payment for
the selected term at commencement.
Apart from covering the risk of natural death, this plan also
provides you the option to choose upto 5 additional benefits.
You can select a specific combination of additional benefits
best suited to your needs, available in 4 attractive packages
to choose from.
i. Economy: This is the basic plan, which is available for both
the regular and single premium payment options.
55
ii. Protect: This pack comes with the following 3 in-built
additional benefits:
a. Accidental Death Benefit.
b. Accidental Permanent Total/Partial Disability Benefit.
c. Waiver of Premium Benefit (in case of accidental
permanent total disability).
The Protect Pack is available with the regular premium
payment option only.
iii. Health: This pack comes with the following 2 in-built
a. Critical Illness Benefit.
b. Hospital Cash Benefit.
The Health Pack is available with the regular premium
iv. Total: This pack comes with the following 5 in-built
a. Accidental Death Benefit.
b. Accidental Permanent Total/Partial Disability Benefit.
c. Waiver of Premium Benefit (in case of accidental
permanent total disability).
d. Critical Illness Benefit.
e. Hospital Cash Benefit.
The Total Pack is available with the regular premium
What are the in-built benefits that the 'Bajaj Allianz Term
Care' Plan offers you?
a. Accidental Death Benefit
Accidents are always sudden and sometimes fatal. You can't
lessen the emotional shock, but you can certainly soften the
financial one. Bajaj Allianz Accidental Death Benefit gives
your loved ones something to start with after the permanent
loss of your income by paying double the basic Sum Assured.
The total Accidental Death Benefit shall however be subject
to a maximum of Rs. 10, 00,000/- under all policies taken
with Bajaj Allianz together.
b. Accidental Permanent Total/Partial Disability Benefit

Accidents are unpredictable and so are the consequences.
This may lead to a disability - partial or total. The Bajaj
56
Allianz Accidental Permanent Total/Partial Disability Benefit
provides a financial cushion against such misfortunes.
Type of Disability Benefits
Accidental Permanent Partial Disability 50 % of Sum
Assured *
Accidental Permanent Total Disability 100 % of Sum
Assured **
* Subject to a maximum of Rs. 5, 00,000/- under all policies

with Bajaj Allianz taken together.
** Subject to a maximum of Rs. 10, 00,000/- under all
policies with Bajaj Allianz taken together.
c. Waiver of Premium Benefit
An accident may lead to permanent total disability limiting
your ability to earn.
The Bajaj Allianz Waiver of Premium Benefit is a helping hand
when you need it most. It keeps your insurance cover alive
by waiving off future premiums and enables you to live up to
your commitments.
d. Critical Illness Benefit
Some illnesses are critical. They not only alter your life's
pattern but also result in a financial drain. Bajaj Allianz
Critical Illness Benefit softens the impact on your family by
paying out the Critical Illness Benefit (equal to the Sum
Assured) under the plan immediately, while other policy
benefits continue (excluding Hospital Cash Benefit). We
cover 11 Critical Illnesses.
e. Hospital Cash Benefit
The worry of settling hospital bills (room charges) adds to
the trauma of hospitalization. Bajaj Allianz Hospital Cash
Benefit reduces this financial burden and helps you to
recover with peace of mind.
Flexibility in Coverage*
At Bajaj Allianz, we believe in offering benefits and not just
products. We realize that you are unique and your needs for
insurance vary with time. We therefore offer you the
flexibility of including the following benefit combination at
each policy anniversary.
57
• Combination 1: Accidental Death Benefit; Accidental
Permanent Total/Partial Disability Benefit; Waiver of Premium
Benefit.
This combination can be added, if not taken earlier, deleted
and added subsequently at each policy anniversary.
We also offer the flexibility of excluding the following benefit
combination:
• Combination 2: Critical Illness Benefit; Hospital Cash
Benefit.
This combination can be taken at inception only but can be
excluded
subsequently at any policy anniversary. Once excluded,
Combination 2 cannot be included in the policy
subsequently.
* Available with the regular premium payment option only
Other important details of the 'Bajaj Allianz Term Care' Plan.

Eligibility Condition
Minimum Age at Entry 18 Years

Maximum Age at Entry 50 years
Maximum Age at Maturity 65 years
Minimum Term 5 years
Maximum Term 40 years
Minimum Sum Assured Rs. 1,
00,000/-
Maximum Sum Assured Rs. 10,
00,000/-
Minimum Premium (Rs.) 1500/- for
Yearly,
Rs. 1500/- for
Half Yearly.
The minimum premium for Single Premium option shall be

Rs. 6000/-
Modes that can be single premium, yearly or half-yearly.
58
6) BAJAJ ALLIANZ NEW RISK CARE PLAN
Bajaj Allianz New Risk Care plan, a bouquet of happiness,

security and pride for you & your family. Commitments
towards the family are non-measurable and countless. It’s
our endeavor to keep up your commitments by sharing your
burdens and reducing your liabilities. In case of any mishap
or unfortunate event, the plan will always stand by you as a
pillar of strength.
Bajaj Allianz New Risk Care helps you to secure your family’s
well being, and create a strong financial back up in case of
any unforeseen eventualities. Allow us to take over your
financial concerns and worries to rest on us.
“Insure your Today with us to ensure your family’s Smiles
Tomorrow”
The Key Features of Bajaj Allianz New Risk Care:
• A non-participating traditional Term Assurance plan.
• Higher insurance coverage at Low premium.
• Regular/Single Premium payment options.
• Enhanced Protection options available through Additional
Rider Benefits.
• Rebates on premium in-case of high sum assured (both on
regular and single premium mode).
How does the Bajaj Allianz New Risk Care work? What are
the Benefits?
You are required to make regular installments or a one-time
payment. In case of any unfortunate happening before
maturity of the policy, the Death Benefit on the policy will be
paid to the nominee. There is no maturity benefit.
Power of 4 for Enhanced Protection

Power of 4 for Enhanced Protection
• Accidental Death Benefit: Covers against Accidental
Protection.
• Accidental Permanent Total/Partial Disability Benefit:
Covers against Disability protection.
• Critical Illness Benefit: Covers you against 11 defined
critical diseases.
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• Hospital Cash Benefit: Reduces your burden against
hospitalization expenses.
(For complete details on riders, please refer to our Additional
Rider Benefits Brochure. These additional Rider Benefits are
available on regular premium policies only and not on single
premium policies.)
Flexibility in Coverage
At Bajaj Allianz, we believe in offering solutions and not just
benefits. We believe that you are unique and your needs for
insurance are different from others and vary with time. We
therefore present you New Risk Care with Additional Rider
Benefits, which offers you the flexibility of inclusion or
exclusion of coverage at each policy anniversary, subject to
conditions relating to such inclusions and exclusions.
“Accidental Death Benefit, Accidental Permanent Total/Partial
Disability Benefit” can be included or excluded at each policy
anniversary, but once excluded cannot be included again.
Hospital Cash Benefit (HCB) and Critical Illness (CI) can be
taken at inception only. HCB & CI can be reduced or excluded
subsequently at any policy anniversary. Once reduced or
excluded, they cannot be increased or included
subsequently.
Minimum Premium Amount
Rs. 200 per Monthly installment (through salary deduction or
ECS), Rs. 500 per Quarterly installment, Rs. 1,000 per Half-
Yearly installment, Rs. 1,500 per Yearly installment,
Rs. 5,000 for Single Premium.
Important Details
Minimum Entry Age 18 years
Maximum Entry Age 60 years
Maximum Maturity Age 65 years
Minimum Policy Term 5 years
Maximum Policy Term 40 years
Minimum Sum Assured Rs.4, 00,000
Maximum Sum Assured Rs.50, 00,
00,000
Premium paying frequency Yearly/Half

yearly
60
/Quarterly/Monthly/
Single
High Sum Assured Rebate (HSAR) On Sum Assured of Rs.

10,00,000 or more
Indicative Premiums
The table below illustrates the premium rates* for New Risk
Care.
Age: 30 Years
Gender: Male
Sum Assured: Rs. 5, 00,000
Payment Mode Term

10 15 20
25
Single Premium (in Rs.) 9,045 13,140 17,650
22,630
Regular Annual Premium (in Rs.) 1,665 1,840 1,970
2,065
*Excluding service tax.
Death benefit
In case of any unfortunate happening before maturity of the
policy, the Death Benefit equal to the chosen Sum Assured
on the policy will be paid to the nominee.
Surrender Value
In case of Single Premium mode, the policy can be
surrendered after five years from Policy Commencement
Date and the surrender value is equal to 0.70*(n-t)/n*Single
Premium, where “n” is Policy Term and “t” is elapsed
duration in years from Policy Commencement Date to the
Policy Anniversary following the date of surrender. Surrender
value is not payable on Regular Premium mode.
Revival of lapsed Policy
You may revive the lapsed policy within two years from first
unpaid premium by paying all due regular premiums along
61
with interest compounding half-yearly at such rate as the
Company may decide from time to time.
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.
Nomination
Nomination can be made for receiving policy proceeds in
case of death.
General Exclusion
If the Life Assured commits suicide whether sane or insane,
within one year from the Policy Commencement Date or
Commencement of Risk, the Company will not entertain any
claim by virtue of this Policy except to the extent of the
Installment/Single Premium paid. The actual date of death
will be the basis for determining the validity of the
contract of insurance.
7) CHILD GAIN
Are your children destined for greatness? Will they devise

the universal currency, or solve the problem of global
warming? Will they make music like we have never heard
before, or keep shattering records in sports? Will they bring
God to men, or peace to the world? Your children may just be
the ones to end wars, feed the hungry, and care for many.
Your child can aim for the highest echelons of success, for
greatness, and immortal fame. Your child can dream. But
before your child does, you must.
Bajaj Allianz ‘ChildGain’ Plan

Taking care of a child is perhaps the most important job a
parent can have. It is natural that you would like to give your
child your best, and therefore, this is the time when careful
financial planning can help you fulfill the aspirations that you
have for your children. The Bajaj Allianz ChildGain Solutions
62
help you to enjoy the joys of parenthood responsibly, with
the reassurance of a secure future for your child.
What does Bajaj Allianz ‘ChildGain’ Plan offer you?

Bajaj Allianz ChildGain offers a wide array of solutions that
allows you to plan for your child’s future by providing you
with as many as 4 distinct and unique options.
Option 1: ChildGain 21
Option 2: ChildGain 24
Option 3: ChildGain 21 Plus
Option 4: ChildGain 24 Plus
Common features in the 4 Options of Bajaj Allianz ‘ChildGain’

Plan
1. Limited Premium Payment Term which means that the

premiums are payable till your child attains age 18 years.
2. Your contributions grow by the way of compounded annual
bonuses, which will be paid to you with the first guaranteed
payout (policy anniversary following age 18 of your child),
for in-force policies. In addition to the annual bonuses, a
terminal bonus may also be paid.
3. You are eligible for Tax Benefits under Section 80C and
Section 10(10) D of the Income Tax Act.
4. Assuring Your Child’s Future: In an uncertain world, the
prime interest of your child cannot be jeopardized in any
way. This is why we have built in some added benefits in all
our plans to protect the interests of your child’s future, by
counter insuring you- the policy holder.
Inbuilt Benefits
• Premium Waiver Benefit: In case of death or accidental

total permanent disability of the policyholder during the
premium payment term, all future premium payments are
waived. This benefit will not be available in the event of
accidental permanent total disability after age 65 of the
policyholder.
63
• Family Income Benefit: In case of death or accidental total
permanent disability of the policyholder during the term of
the policy, a monthly income benefit of 1% of the sum
assured (12% per annum) subject to a maximum of
Rs.10,000 p.m. becomes payable till the end of the policy
term. This benefit will not be available in the event of
accidental permanent total disability after age 65 of the
policyholder.
• Option to Purchase further Insurance at Maturity: For
ensuring continuity of the valuable insurance protection that
the child was enjoying, we offer the child an option to
purchase a with profits endowment or an equivalent plan
from Bajaj Allianz Life Insurance Company for twice the
amount of face value of this policy, without any medical
examination, on the premium rates prevailing at that time
(The application must be made at least 6 months prior to
maturity of this policy).
Payout Structures
For ChildGain 21 and ChildGain 21 Plus: The minimum
guaranteed payouts are as follows:
Policy Anniversary following 18 19 20

21
completion of Age
Payout as % of Sum Assured 20% + Accrued 25% 25%
35%*
Bonuses
For ChildGain 24 and ChildGain 24 Plus: The minimum
guaranteed payouts are as follows:
Policy Anniversary following 18 20 22

24
completion of Age
Payout as % of Sum Assured 25% + Accrued 25% 25%
40%
Bonuses
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• refers to probable increase in payout based on higher
interest during the payout period.
Start of Life Benefit
Unique Feature of Bajaj Allianz ‘ChildGain’ 21 Plus and 24

Plus
These packages offer you the choice of providing a unique

Start of Life Benefit for your child. For a nominal amount, an
additional Sum Assured subject to a maximum limit of Rs. 10
lakhs will become payable to enable the child start his/her
professional life smoothly, in case of an unfortunate death or
Accidental Permanent Total Disability of the Policyholder
during the term of the policy. This benefit will not be
available in the event of accidental permanent total
disability, after age 65 of the policyholder.
Death Payout:
In the event of unfortunate death of the child during the policy term, the
payouts shall be as under:
Age Payout
Below 7 years Premiums paid will be refunded without interest and the
policy will terminate.
Above 7 and Sum assured with accrued bonuses will be paid and
below 18 years the policy will terminate.
Above 18 and Outstanding payouts will be paid as one lump sum

below 24 years and the policy will terminate.
Important details of Bajaj Allianz ‘ChildGain’ Plan
Eligibility Conditions ChildGain 21 and ChildGain 24 and
65
ChildGain 21 Plus ChildGain 24 Plus
Minimum age of the policyholder 20 20
Maximum age of policyholder 50 50
Minimum age of child 0 0
Maximum age of child 13 13
Minimum Premium Payment Term 5 5
Maximum Premium Payment Term 18 18
Maximum Policy term 21 less age at 24 less age at
entry of LA (Child) entry of LA (Child)
Maximum age of child at maturity 21 24
Minimum Sum Assured Rs. 100000 Rs. 100000
Maximum Sum Assured Rs. 5000000 Rs. 5000000
Minimum Premium Minimum Premium Rs. 5000 for yearly
mode, Rs. 3,000 for half year mode,
Rs. 3,000 for quarterly mode and Rs. 700
for monthly mode
(Monthly mode available under salary deduction scheme only and minimum
proposal deposit should be Rs.2100 i.e. three months payment in advance).
Age = Age on last birthday.
The Policy Term + Age of policyholder should not exceed 70 for all plans.
Premiums
Modes that can be Yearly, Half-yearly, Quarterly and monthly.
We also offer a Monthly Premium Payment Mode under
salary deduction schemes.
Surrender
We offer you the choice of surrendering the policy provided
three full years’ premiums have been paid (Two years for
premium payment terms of 5 and 6 years).
The guaranteed minimum surrender value is 30% of all
premiums paid excluding the first year premium and
excluding the premiums for Premium Waiver Benefit and
Family Income Benefit and Additional Rider Benefit if opted
for. The guaranteed minimum surrender value after the
premium payment term will be the discounted value of the
outstanding installment payments discounted at 10% p.a.
rate of interest.
Loans
66
Loans are not available with Bajaj Allianz ‘ChildGain’ Plan
Exclusions
The Death Cover is subject to the following Exclusion:

Suicide within one year from commencement of risk,
whether sane or not.
8) NEW UNITGAIN PREMIER SP
“IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT

PORTFOLIO IS BORNE BY THE POLICYHOLDER”
You and Your investments deserve more…
This is why we have designed a unique plan that really offers
you more? New UnitGain Premier SP is a unique insurance
cum investment plan that provides your investment a zing
from the start, by allocating 105% of the single premium
paid from day one, thereby ensuring that you get MORE.
Bajaj Allianz New UnitGain Premier SP is exactly what the
name suggests, with a wide range of high quality investment
funds to choose from coupled with flexible investment
management. You really have the best of all worlds –
investment, insurance and tax benefits.
With Bajaj Allianz New UnitGain Premier SP, you can invest in
one life insurance plan that can take care of all your
changing requirements, be it your investment needs,
children education needs or peaceful golden years. This plan
has been designed to provide your family with higher
financial assistance should anything unfortunate were to
happen to you as well as flexibility, so that you do not have
to worry about your changing needs.
The Key Features of the New UnitGain Premier SP Plan are:
• It is a unit linked plan with minimum term of 10 years and
maximum maturity age 70 years.
• Convenient single premium payment.
• 105% of the single premium is allocated.
• Guaranteed death benefit.
• You can adopt your own investment strategy to grow the
funds.
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• Choice of three investment funds today with flexible
investment management:
You can change funds at any time and also invest in the
newer funds that may be introduced from time to time
subject to prior approval from IRDA.
• Partial or full withdrawal facility, after three years from
commencement (subject to surrender charge, if applicable).
How does the Bajaj Allianz New UnitGain Premier SP plan

work?
105% of the single premium paid is invested in fund/funds of
your choice and units are allocated depending on the price
of units for the fund/funds. The fund value of your policy is
the total value of units that you hold in the fund/funds. The
mortality charge and policy administration charge are
deducted through monthly cancellation of units.
The Fund Management Charge is priced in the unit value.
Death Benefit: You can choose a Sum Assured (Level of

Protection) that you want in the New UnitGain Premier SP
Plan.
Minimum Sum Assured = 1.25 times the single premium
Maximum Sum Assured = Y times the single premium where
Y will be as per the following table:
Age 0 - 17 18 – 35 36 - 45 46 - 50 51 - 55
56 – 60 Group
Y 10 10 7 5 3*
2*
* Multiplier may be increased to 5 in special cases on case-
to-case basis.
Benefits available under the plan
Death Benefit:
• On death before the age of 7 years: The death benefit will
be the NAV of the units in the policyholder’s account (Fund
Value) as on date of receipt of intimation of death at the
office. The policy terminates on the death of the life assured.
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• On death after the age of 7 years and before the age of 60
years: The death benefit will be the higher of the sum
assured less the value of the units withdrawn by partial
withdrawals in the last 24 months prior to the date of death
or the NAV of the units in the policyholder’s account (Fund
value) as on date of receipt of intimation of death at the
office.
• On death of the life assured on or after attaining the age of
60 years: The benefit will be the higher of the sum assured
less the value of the units withdrawn within two years before
attaining age 60 years and all the withdrawals made after
attaining age 60 years or the value of the units in the
policyholder’s account (Fund Value) as on the date of
intimation of death at the office.
Maturity Benefit
On maturity, the value of the units is payable to the life assured/
policyholder.
Fund Value: The Fund Value is equal to the number of units under this policy
multiplied by the unit price on the relevant valuation date.
Unit Price: The unit price of each fund is arrived at by dividing the Net
Asset Value (NAV) of the fund by the number of units existing in the fund at
the valuation date (before any new unit is allocated or cancelled)
Valuation Date: The Company aims to value the Funds on each day the
financial markets are open. However, the Company reserves the right to
value less frequently in extreme circumstances, where the value of the assets
may be too uncertain. In such circumstances, the Company may defer
valuation of assets until a certainty on the value of assets is resumed. The
deferment of valuation of assets will be subject to prior consultation with
IRDA.
Currently, the cut-off time is 3 p.m. for applicability of Unit Price of a
particular day for switches, redemptions and publication of Unit Price.
Cash withdrawal option: You can withdraw (partially or fully)

anytime after three years from the date of commencement.
In case of partial withdrawal, a minimum balance of Rs.
20,000 or one-tenth of the Single Premium, whichever is
higher, across all funds must be maintained, and the
minimum withdrawal amount is Rs. 5,000. The surrender
charge applicable for partial withdrawal would be 6% in the
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4th year, 4% in the 5th year, 2% in the 6th year, & 0%
thereafter. In case the policy is taken on the life of a minor,
the partial withdrawals shall not be allowed until the minor
(life insured) attains majority (i.e. on or after attainment of
age 18).
Surrender: Full withdrawal of units by way of surrender of the

policy is allowed after three years from commencement. The
surrender charge applicable for full withdrawal would be 6%
in the 4th year, 4% in the 5th year, 2% in the 6th year, & 0%
thereafter.
Important Details of the ‘Bajaj Allianz New UnitGain Premier

SP’ Plan
Minimum
Maximum
Age at Entry 0 Yrs (Risk commences at age 7)
60 Yrs
Term 10 Yrs
Age at Maturity 18 Yrs
70 Yrs
Single Premium Rs. 50000
No limit
Termination of the Policy

The policy will terminate on occurrence of any of the
following:
a) The units in the policy are fully surrendered
b) The account value becomes equal to one tenth of the
single premium paid.
c) The death of the Life Assured
d) On maturity, if settlement option is not taken
e) The expiry of the period for the Settlement Option
On the occurrence of (a) and (b) above the value of the units, if any, would
be paid to the life assured/policyholder upon such termination, subject to
surrender penalty, if applicable. In case of (c), death benefit will be paid as
mentioned separately herein. In case of (d) and (e), the value of the units, if
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any is paid to the life assured/policyholder at maturity or at each installment
date, as applicable under the settlement option.
9) INVEST PLUS
Bajaj Allianz Life Insurance launches Invest Plus

Press Trust of India / Mumbai June 15, 2009, 17:52 IST
Leading private sector life and general insurance company, Bajaj Allianz
Life Insurance has launched Invest Plus, which offers upfront minimum
guaranteed investment returns at the beginning of each year, a company
statement said here.
Invest Plus is the first of its kind traditional plan that offers upfront
minimum guaranteed investment returns at the beginning of each year and a
guaranteed maturity value so that customers can feel protected at all times
and plan their investments without any worries.
"Invest Plus offers guaranteed benefits in these uncertain times. The USP is
the transparency of a ULIP product in a traditional product," Bajaj Allianz
Life Insurance Country Manager, Allianz & CEO, Kamesh Goyal said.
The minimum guaranteed investment returns works towards the benefit of

the customer as he gets an upfront minimum guaranteed rate of returns. This
would be beneficial irrespective of market conditions as he is equally
compensated by guaranteed returns, Goyal said.
Minimum guaranteed returns stands for a rate of return which is declared at

the beginning of each financial year itself and promises to offer the customer
the same return for the year irrespective of the market scenario, it said.
The company has announced minimum guaranteed returns for FY10 at 7 per
cent.
“Bajaj Allianz Invest Plus”
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Presenting a one-of-its-kind investment plan that is secure, accountable and
transparent
- All in one.
Bajaj Allianz Invest Plus helps you get security while ensuring peace of
mind. The guaranteed investment returns give you a great maturity benefit
and protection to your family. You can multiply your returns by paying
additional premiums.
Securing the future of your family and yourself was never this easy. Enjoy
your life with this all-in-one plan, and leave your worries to us.
Key features of Bajaj Allianz Invest Plus:
• Guaranteed Investment Returns and minimum Guaranteed Maturity Value.
• 10% of each Net Premium added as Loyalty Additions from the 11th
Policy Year
• Refund of a proportion of the cost of your life insurance cover at maturity
• Option to pay Premium over and above the Regular Premium to acquire
Additional
Accrued Maturity Value
• Choice of insurance cover as per your requirement
• Option to take loan up to 85% of the surrender value of Accrued Maturity
Value.
• Option to en-cash partially the Additional Accrued Maturity Value
• A host of optional Additional Rider Benefits to choose from
• Option to reduce the regular premium from the fourth policy year
How does Bajaj Allianz Invest Plus work?
For Your policy the Company will maintain two accounts; an Accrued
Maturity Value
(AMV) account for regular premiums and an Additional Accrued Maturity
Value (AAMV)
From the Regular Premium paid by you, a Life Insurance Risk Premium for
the Sum
Assured chosen and the Additional Rider Benefits premium, if any, will be
deducted upfront and 95% of the resulting Net Premium shall be added to
your Accrued Maturity Value (as and when the Regular Premium is received
by the Company).
You can pay Additional Premium over and above the Regular Premium any
time (except during last three years before maturity) which shall be added to
your Additional Accrued Maturity Value (AAMV) account, after multiplying
the Additional Premium paid by you with the Additional Premium Factor.
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The Accrued Maturity Value (AMV) and the Additional Accrued Maturity
Value (AAMV), if any, shall be further enhanced at the rate of Guaranteed
Investment Return (GIR) on a monthly basis.
The Loyalty Additions at the rate of 10% of the Net Premium will further
enhance your Accrued Maturity Value (AMV) from the 11th policy year as
and when the premiums are received by the Company.
The fund in respect of your Accrued Maturity Value (AMV) and Additional
Accrued Maturity Value (AAMV), if any, shall be invested in a Controlled
Fund. The investment mix of the Controlled Fund shall always be in such
proportion as that stipulated by the Insurance Regulatory and Development
Authority’s (IRDA’s) relevant regulations on investments for the non-linked
business including any change in future.
“Bajaj Allianz Invest Plus’’ offers you the following cover choices:
You can choose sum assured as 5 times, 10 times, 15 times or 20 times
(subject to maximum of chosen policy term times) of annual premium.
Additional Rider Benefits available
The following additional rider benefits in the form of rider can be availed at
the option of the policyholder.
• Accidental Death Benefit Rider
• Accidental Total / Partial Disability Benefit Rider
• Critical Illness Benefit Rider
• Hospital Cash Benefit Rider
• Waiver of Premium Rider
• Family Income Benefit Rider
(Please refer to the additional rider benefits brochure for more details.)
Death Benefit
The Death Benefit payable to the Nominee (provided the policy is in force)
will be equal to the amount of Sum Assured under the Policy plus the
Accrued Maturity Value plus the Additional Accrued Maturity Value, if any,
as on date of receipt of intimation of death at the office of the Company.
In case of paid up policy, the death benefit shall be higher of the reduced
Sum Assured and the Paid Up Accrued Maturity Value, plus the Additional
Accrued Maturity Value, if any, as on the date of receipt of intimation of the
death.
In case of lapsed policy, the death benefit shall be equal to the Additional
death.
Maturity Benefit
The maturity benefit shall be
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• The Accrued Maturity Value as on Maturity Date plus Refund of a
proportion of the total life insurance premium paid (excluding any rider
premium, extra premium and service tax); subject to a minimum of the
Guaranteed Maturity Value
• Plus the Additional Accrued Maturity Value, if any, as on Maturity Date.
The refund proportion of the total life insurance premium on maturity shall
be made only if all the due regular premiums till maturity date have been
paid. The proportion will be 50% for policy term 10, 75% for policy term 15
and 100% for policy term 20 & 25.
The Guaranteed Maturity Value (GMV) shall be equal to the total regular
premium paid till maturity date excluding rider premium, any extra premium
& service tax and is applicable only if the entire due premiums have been
paid under the policy till maturity.
Surrender
You may surrender the policy after three policy years, provided first three
years’ Regular Premiums have been paid in full. The Surrender Value shall
be equal to the Accrued Maturity Value plus the Additional Accrued
Maturity Value, if any, less applicable penalty and subject to application of
Market Value Adjustment (MVA), if any.
Guaranteed Investment Return
The Company will declare a Guaranteed Investment Return for a year at the
start of each financial year keeping in view the expected rate of Investment
Return in the coming financial year. The Guaranteed Investment Return shall
be used to enhance the Accrued Maturity Value and the Additional Accrued
Maturity Value, if any, on a monthly basis at end of each calendar month.
For any cash flow taking place during the month, the GIR for that cash flow
shall be calculated and credited for the fraction of the month.
The Guaranteed Investment Return declared by the Company for the
Financial Year
2009 -10 is 7%.
Loyalty Additions
If the Regular Premium has been paid in full for the first 10 Policy Years,
then from the
11th Policy Year, the Company will add Loyalty Addition to the Accrued
Maturity Value equal to the 10% of the subsequent net premium on receipt
of each Regular Premium by the Company.
Market Value Adjustment (MVA)
Market Value Adjustment (MVA) will be the reduction to the AMV and/or
the AAMV that may be applied by the company on the date of Full or Part
74
surrender payment, based on the need for the Company to realize the
investments and the market value of the assets as on that date.
The MVA shall not be applicable in case of death or maturity.
Policy Loan
You can avail up to 85% of the surrender value of the Accrued Maturity
Value as loan from the Company, after three policy years at prevailing rate
of interest provided at least three years regular premiums have been paid in
full. On payment of death, maturity or surrender benefit, any outstanding
loan amount with interest shall be deducted from the benefit.
Option to en-cash partially
• You can opt for Part Surrender of your Additional Accrued Maturity Value
after three years from the date of payment of each such additional premium.
• The minimum amount of Part Surrender from Additional Accrued Maturity
Value is Rs.5, 000
• Only one Part Surrender request is allowed in a calendar month.
• In case of minor life, Part Surrender is allowed after attaining age 18 years.
• The Part Surrender of the Additional Accrued Maturity Value will be
subject to deduction of Surrender Penalty, as applicable.
• The actual amount payable as Part Surrender may differ from the face
value of the Additional Accrued Maturity Value being surrendered, due to
the application of the Market Value Adjustment (MVA) and surrender
penalty.
Option to Reduce the Regular Premium
You can reduce your regular premium after three policy years by giving a
written notice at least 30 days prior to a policy anniversary, provided you
have paid all due regular premiums till date. Such reduction in regular
premium shall be subject to the minimum regular premium payable under
the product at the time of such reduction and further the revised regular
premium shall not be less than the life insurance premium and the rider
premium, if any, including any extra premium, payable under the policy.
Any reduction in regular premium shall not result in any reduction of sum
assured.
The reduction in regular premium shall be effected from the policy
anniversary.
Non-Forfeiture
In the event of non-payment of Regular Premiums due under the policy
within the Grace Period the following provisions will be applicable:
• If the failure to make payment of Regular Premium occurs in the first 3
Policy Years, the Policy will lapse for all Life Insurance Cover and rider
cover and no Surrender Value or Death Benefit in respect of the Accrued
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Maturity Value shall be payable. However Surrender Value in respect of
Additional Accrued Maturity Value, if any, shall be payable on the
termination of the Policy on the expiry of the Revival Period. The AMV of a
lapsed policy shall not participate in the Guaranteed Investment Return
during the lapsed period, but the AAMV will continue to be enhanced by the
Guaranteed Investment Return during the lapse period.
• In case of earlier death of the life assured under a lapsed policy, the
Additional Accrued Maturity Value, if any, shall be payable.
• If at least three full years Regular Premium has been paid, the Policy will
be converted to a Paid-Up Policy and the Accrued Maturity Value shall be
reduced to the Paid up Accrued Maturity Value by deducting the Premium
Discontinuance Penalty from the Accrued Maturity Value as on date of first
unpaid premium. The Paid up Accrued Maturity Value and the Additional
Accrued Maturity Value, if any, shall continue to participate in the
Guaranteed Investment Return. The Sum Assured shall be reduced by
applying the proportion of number of premiums paid to the total number of
premiums payable till the Maturity Date. .
• In the case of the death of the Life Assured under a Paid-Up Policy, the
Company is liable to pay a Death Benefit equal to the higher of the reduced
Sum Assured and the Paid-up Accrued Maturity Value, plus the Additional
death. .
• Under a Paid-Up Policy, no Additional Rider Benefit shall be payable.
Parameter Details
Minimum Age at Entry 7 years (18 years in case
of all Additional Rider
Benefits)
Maximum Age at Entry 60 years (50 years in
case of all Additional
Rider Benefits)
Minimum Maturity Age 18 years
Additional Rider Benefit 65 years
Ceasing Age
Policy Term 10, 15, 20 and 25 years
Minimum Premium* Rs. 10,000 per yearly
installment,
Rs. 5,000 per half-yearly installment,
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Rs. 2,500 per quarterly installment
Rs. 1,000 per monthly mode
(Monthly mode is available through ECS salary saving scheme only.)
Traditional Endowment Plan
10) BAJAJ ALLIANZ LIFE TIME CARE PLUS
At the back of our minds we are often nagged by certain fears, the fears of
an uncertain future, the insecurity of not being able to provide adequately for
our loved ones, the fear of not being able to save enough. Life Insurance is
the only complete answer to these fears. It is life insurance that provides you
with the security of a financial safety net and enables you to plan for
unpredictable adversities. Happiness often sneaks in through a door you
didn’t know you left open. Let life insurance be that door for you.
‘Bajaj Allianz Lifetime Care’ Plan
You and your family deserve the very best in life, and the
good life you lead should last a lifetime. However, one
cannot always avoid the unpleasant surprises, and
sometimes misfortunes in life. ‘Bajaj Allianz Lifetime Care’
Plan provides you with the comfort that your near and dear
ones will continue to live their life without financial worries,
even when you are not around.
What does ‘Bajaj Allianz Lifetime Care’ offer you
This plan not only provides insurance protection, but also ensures that your
valuable savings grow by way of compounded annual bonuses. In addition, a
terminal bonus may be paid on survival till age 80 for in-force and fully
paid-up policies. In case of death after 15 full policy years, the company
may pay a terminal bonus for in-force and fully paid-up policies.
Benefits :
Death Benefit: The death benefit will be the sum assured plus declared
reversionary bonuses plus interim bonus. In case of death after 15 full policy
years, the Company may pay terminal bonus for in-force and fully paid-up
policies.
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Survival Benefit: In case of survival to age 80, the sum assured plus declared
reversionary bonuses plus interim bonus plus a possible terminal bonus is
paid at age 80.
What are the 5 additional benefits?

a) Accidental Death Benefit
Accidents are always sudden and sometimes fatal. You can’t lessen the
emotional shock, but you can certainly soften the financial one. Bajaj
Allianz Accidental Death Benefit gives your loved ones something to start
with after the permanent loss of your income by paying the basic Sum
Assured, subject to a maximum of Rs. 10, 00,000/- under all policies with
Bajaj Allianz taken together.
b) Accidental Permanent Total/Partial Disability Benefit
Accidents are unpredictable and so are the consequences. This may lead to a
disability - partial or total. The Bajaj Allianz Accidental Permanent
Total/Partial Disability Benefit provides a financial cushion against such
misfortunes.
Type of disability Benefit
Permanent Partial Disability 50% of the Sum Assured *
Permanent Total Disability 100% of the Sum Assured **
* subject to a maximum of Rs. 5,00,000/- under all policies with Bajaj

Allianz taken together
** subject to a maximum of Rs. 10,00,000/- under all policies with Bajaj
Allianz taken together
c) Waiver of Premium Benefit
An accident may lead to permanent total disability limiting your ability to
earn. Bajaj Allianz Waiver of Premium Benefit is a helping hand when you
need it most. It keeps your insurance cover alive by waiving future
premiums and enables you to live up to your commitments.
d) Critical Illness Benefit
Some illnesses are critical. They not only alter your life’s pattern but also
result in a financial drain. Bajaj Allianz Critical Illness Benefit softens the
impact on your family by paying out the Critical Illness Benefit under the
plan immediately, while other policy benefits continue (excluding Hospital
Cash Benefit).
We cover 11 Critical Illnesses. This benefit is available for the premium
payment term only.
e) Hospital Cash Benefit
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The worry of settling hospital bills (room charges) adds to the trauma of
hospitalization.
Bajaj Allianz Hospital Cash Benefit reduces this financial burden and helps
you to recover with peace of mind. This benefit is available for the premium
payment term only.
At Bajaj Allianz, we believe in offering benefits and not just products. We
realize that you are unique and your needs for insurance vary with time. We
therefore offer you the flexibility of including the following benefit
combination at each policy anniversary.
Combination 1: Accidental Death Benefit, Accidental Permanent
Total/Partial Disability Benefit and Waiver of Premium Benefit can be
added, if not taken earlier, deleted and added subsequently at each policy
anniversary.
We also offer the flexibility of excluding the following benefit combination.
Combination 2: Critical Illness Benefit and Hospital Cash Benefit can be
taken at inception only but can be excluded subsequently at any policy
anniversary. Once excluded, Combination 2 cannot be included in the policy
subsequently.
Increase in risk coverage
Every added responsibility in your life calls for increase in your risk cover.
We provide you the option to include additional death coverage of 50% of
the Sum Assured on each of the following happy moments in your life
• your marriage
• the birth of your first child
• the birth of your second child
This additional coverage is not subject to underwriting.
Other Important details of the “Bajaj Allianz Lifetime Care” Plan.

Eligibility
Conditions Lifetime Care Lifetime Care - Protect/
Economy Health/Total
Minimum Age at Entry 15 18
Maximum Age at Entry 60 50
Maximum Premium Ceasing Age 80 80
Minimum Premium Payment Term 10 10
Minimum Premium (Rs.) 1,500/- for Yearly, 800/- for Half
Yearly, 450/- for Quarterly and
150/- for Monthly*.
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* by salary deduction only
Premium Discount
Bajaj Allianz offers an attractive premium discount structure which is
offered for all policies where the sum assured exceeds the minimum sum
assured by at least Rs.10, 000. The discount for annual premium is Rs.48 for
each full Rs.10, 000, the sum assured exceeds the minimum sum assured
allowed.
Indicative Annual Premium Rates* for Lifetime Care Economy
Premium Sum Assured
Payment Term Rs. 3, 00,000 Rs. 5, 00,000 Rs. 10, 00,000
15 Years 9,096 15,000 29,760
20 Years 7,581 12,475 24,710
25 Years 6,810 11,190 22,140
30 Years 6,405 10,515 20,790
• The rates are for a healthy 30 year old male.

For your convenience we have provided 3 Premium Payment Modes that
can be yearly, half-yearly or quarterly. We also offer a Monthly Premium
Payment Mode with salary deduction schemes.
Advantage for Women
There will be a basic premium discount for female policyholders in the
package. Basic premium payable will be equivalent to the premium for a
two-year younger male policyholder.
Tax Benefits
Premiums paid are eligible for Tax Benefits under Section 80(C) of the
Income Tax Act and maturity and death proceeds are eligible for Tax Free
under Section 10(10)D of the Income Tax Act.
Surrender
While we do not encourage surrender of a policy as it breaks your security
cover, we realize the importance of availability of cash at a short notice in
some emergencies.
Therefore, we provide you with a choice of surrendering the policy, provided
3 full years’ premiums have been duly paid.
Fund Access - Loans
You can avail of Loans under your policy provided 3 full years’ premiums
have been duly paid. The loan amount shall be within 90% of the surrender
value.
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11) THE ‘BAJAJ ALLIANZ INVESTGAIN’ PLAN
Bajaj Allianz InvestGain is a specially designed plan that offers a unique

combination of benefits to help you develop a sound financial portfolio for
your family. Among the many unique benefits, the most significant is the
Family Income Benefit (FIB) that sustains the family by compensating the
loss of income due to death or permanent disability. This is a one-stop shop
solution that can keep you and your family financially protected at times
when you need it most. In a financial world where choices can drive you
crazy, your search for the perfect life insurance plan stops here.
Important details of the ‘Bajaj Allianz InvestGain’ Plan.
Conditions InvestGain Economy InvestGain Gold /
Diamond / Platinum
Any additional benefit
Minimum Age at Entry 0 (Risk Commences 18
at age 7)
Maximum Age at Entry 65 50
Maximum Age at Maturity 70 70
Minimum Term 5 years
Maximum Term 40 years
Minimum Sum Assured Rs. 50000
Maximum Sum Assured No Limit
Minimum Premium* Rs. 5000 for Yearly, Rs. 2500
for Half Yearly, Rs. 1250 for
quarterly and Rs. 700 for monthly.
Premium Payment term Equal to the policy term or limited as per the
table given
*Monthly mode is available under ECS / salary savings scheme only.
The Ultimate Protection - For Your Loved Ones

You can select the unique Family Income Benefit from Bajaj Allianz that
ensures total financial protection for your loved ones. In case of death or
accidental total permanent disability, a guaranteed monthly income of 1% of
the sum assured (12% per annum) is paid till the end of the policy term or at
least for a period of 10 years, whichever is higher. Moreover, all future
premiums are waived.
Additional Protection for you and your family.
81
You have the option to add the following additional benefits, providing total
protection against uncertainties.
a) Family Income Benefit (FIB) - as already described.
b) Comprehensive Accident Protection
This benefit provides comprehensive cover in case of an accident. It
comprises of:
Accidental Death Benefit
Accidents are always sudden and sometimes fatal. You can't lessen the
emotional shock, but you can certainly soften the financial one. Bajaj
Allianz Accidental Death Benefit gives the loved ones something to start
with after the permanent loss of income by paying an amount equal to the
Sum Assured.
(subject to a maximum of Rs. 50,00,000/- under all policies with Bajaj
Allianz taken together).
Accidental Permanent Total/Partial Disability Benefit
Accidents are unpredictable, and so are the consequences. They may lead to
a disability - partial or total. This Benefit provides a financial cushion
against such misfortunes. You will get 50% of the Sum Assured in case of
partial disability and 100% in case of total disability. (subject to a maximum
of Rs. 25,00,000/- for partial and Rs. 50,00,000/- for total disability under all
policies with Bajaj Allianz taken together.)
Waiver of Premium Benefit
An accident may lead to permanent total disability, limiting one's ability to
earn. Bajaj Allianz Waiver of Premium benefit is a helping hand when one
needs it most. It waives off all future premiums while keeping the valuable
life insurance cover alive, thus enabling you to live up to your commitments.
c) Critical Illness Benefit (CI)
Some illnesses are critical. They not only alter one's life's pattern but also
result in a financial drain. Bajaj Allianz Critical Illness Benefit softens the
impact on the family by paying out the Critical Illness Benefit under the plan
immediately, while other policy benefits continue (excluding Hospital Cash
Benefit). We cover 11 Critical Illnesses. You have the flexibility of choosing
Critical Illness cover up to the basic Sum Assured selected by you
(Minimum Rs. 50,000).
d) Hospital Cash Benefit (HC)
The worry of settling hospital bills (room charges) adds to the trauma of
hospitalization. Bajaj Allianz Hospital Cash Benefit reduces this financial
burden and helps recovery with peace of mind.
e) MahilaGain Rider Benefit
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Provides protection against risks specific to women. (Refer MahilaGain
brochure for details).
At Bajaj Allianz, we believe in offering benefits and not just products. We
realize that you are unique and your need for insurance vary with time. We
therefore offer you the flexibility of inclusion of coverage or exclusion of
coverage at each policy anniversary, subject to conditions relating to such
inclusions and exclusions.
‘Comprehensive Accident Protection’ can be included and excluded at each
policy anniversary. Family Income Benefit, MahilaGain Rider Benefit,
Critical Illness Benefit and Hospital Cash Benefit can be taken at inception
only. MahilaGain Rider Benefit, CI & HC can be reduced or excluded
subsequently at any policy anniversary. Once reduced or excluded, they
cannot be increased or included subsequently.
HEALTH PLANS
12) BAJAJ ALLIANZ ‘CARE FIRST’ PLAN
Bajaj Allianz Care First is a unique hospitalization-cum-insurance plan that

takes care of your hospitalization bills and also provides crucial financial
support to your dependents in case of your unfortunate death. Unlike
ordinary annual Mediclaim policies, this is a 3-year risk cover plan that
allows you to renew the policy after every 3 years and keeps you covered till
the age of 65 years. The premium rate is level and guaranteed for the length
of the each policy term of 3 years.
How does the plan work?

The Policy covers hospitalization expenses ranging from Rs. 1 lakh to Rs. 7
lakhs. This means, if you opt for a sum assured of Rs. 5 lakhs then you can
avail up to Rs. 5 lakhs every year to meet your hospitalization expenses,
subject to limits on reimbursement of expenses and exclusions as mentioned
below, and in the event of your unfortunate death your dependent will get
balance of any unclaimed sum assured as death benefit.
In case the child is the life assured under this policy, then any one of the
parents should be covered under any of the hospitalisation reimbursement
plan either with Bajaj Allianz or with any other insurer with at least the same
sum assured as chosen for the child.
The policy shall automatically vest in the life assured as soon as minor life
assured attains age 18 years.
Key Benefits
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_ Hospitalisation Cover
_ Day Care Treatment
_ Pre-Hospitalisation and Post-Hospitalisation Cover
_ Cash Less Service Facility
_ Increased proportion of re imbursement of your hospitalisation expenses
for every claim-free year
_ Death benefit
_ Tax Benefit
_ Hospitalization Cover
Following expenses incurred during hospitalization for continuous period of
24 hours for in-patient treatment would be covered under the policy.
_ Room rent and Boarding expenses
_ Nursing expenses
_ Doctor’s fees
_ Operation theatre charges
_ Cost of Anesthesia, Blood, Oxygen, Medicines and Drugs, Diagnostic
Materials and X-Ray, Artificial Limb, and pacemaker
_ Enlisted day care expenses for specified treatments are also covered.
Day Care Treatment
If you require to undergo treatment for the illnesses or procedures like Eye
surgery, Cataract, Lithotripsy (kidney stone removal), Tonsillectomy,
Dilatation & Curettage, Cardiac Catheterization, Hydrocoele Surgery,
Hernia repair surgery, wherein you don’t need to be hospitalized for at least
24 continuous hours, it will be considered as proper hospitalization and the
medical expense would be reimbursed.
Pre-Hospitalisation and Post-Hospitalisation Cover
This plan covers the expenses associated with pre-hospitalization treatment,

for a period of 15 days prior to the hospitalization and post-hospitalization
expenses for a period of 30 days after the discharge from the hospital.
Cash Less Service Facility
Cash Less Services (CLS) will help you avail of the hospitalization benefits
without any advance payment in the hospital and facilitate quick delivery of
services through Network Hospitals (NWH). Third Party Administrators
(TPA) of the Company facilitates the Cash Less Services. On issuance of the
policy, The TPA will provide you a photo identification card and a guide
book, which would contain a list of NWH, the details explaining the process
for application of CLS and hospitalization intimation form / pre-
authorization form to be filled up by your attending doctor for
hospitalization in NWH. The TPA will maintain 24/7 helpline on toll free
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number to facilitate any medical emergency requirement. To avail of the
CLS facility all you need to do is to contact the TPA at any of their offices
which are convenient to you and submit the hospitalization intimation form /
pre-authorization form. In case of an emergency you need to produce the
photo identification card in NWH to get admission and within 48 hours of
hospitalization you will have to contact the TPA to obtain CLS authorization.
If CLS is authorized then your hospitalisation expenses will directly be
settled by the Company with NWH to the extent it is reimbursable and the
balance of the hospitalisation expenses would be settled by you at the time
of discharge.
Death Benefit
In case of unfortunate death of the life assured, provided death occurs after
attaining age of 7 years, the sum assured less all benefits already paid or
payable in that policy year shall be paid.
Tax Benefits
The premium paid towards Death benefit will be eligible for tax benefits
under Section 80C of the Income Tax
Act 1961, and the premium paid towards hospitalisation benefit will be
eligible for tax benefits under Section 80D of the Income Tax Act 1961.
Eligibility
Minimum Maximum
Entry Age 3 months 56 years
Sum Assured 100,000 700,000
Maximum Expiry Age 65 years
Policy Term 3 years
Premium Payment Frequency Yearly, Half-Yearly, Quarterly,
Monthly
(Monthly mode is available through

ECS or Salary Deduction Only)
Limits on reimbursement of expenses
_ In a policy year, Company’s total liability towards reimbursement of
medical expense or any other benefit payment under the policy shall be
limited to the sum assured.
_ If hospitalisation has taken place due to the following
Illnesses/Procedures/Group of Illnesses, the Company will reimburse 80%
of medical expenses subject to maximum reimbursement limit as given
below in the table:
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Sr. Illnesses/Procedures/Group of Illnesses The lower of:
No. % of sum assured Lump sum
1. Cataract 12% 25,000
2. Hysterectomy Abdominal/
vaginal, with or without BSO. 20% 40,000
3. Laparoscopic Hysterectomy 20% 50,000
4. Hydrocoele 15% 30,000
5. Hernia 20% 40,000
6. Trans Urethral resection of the Prostate 20% 40,000
7. Knee replacement 50% 150,000
8. Hip replacement 50% 175,000
9. Cholestectomy 20% 40,000
10. Lithotripsy 15% 30,000
11. Angioplasty 50% 150,000
12. Angiography 10% 20,000
13. Organ Transplant 50% 1, 50,000
_ In case of Major Organ Transplant, the Company will pay an additional

amount of 25% of the sum assured as lump sum. Major Organ Transplant
means the receipt of a transplant of
a) Human bone marrow using haematopoietic stem cells preceded by total
bone marrow ablation; or
b) One of the following whole human organs: heart, lung, liver, kidney,
pancreas (excluding the transplantation of the islets of Langerhans only),
that resulted from irreversible end-stage failure of the relevant organ. Other
stem cell transplants are excluded.
_ If hospitalisation has taken place due to Illnesses/Procedures/Group of
Illnesses other than those listed in the table then the company will reimburse
80% of following expenses:
Room rent and boarding expenses per day Maximum 1.5% of sum assured
for non intensive care unit and
3% of sum assured for intensive
care unit
Doctor’s Fee Maximum 25% of the total
medical expenses incurred on
in-patient treatment
Operation theatre charge Maximum twice of the per day
room rent and boarding
expenses admissible under the
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policy on the date of surgery
/ medical procedure
Other Actual expenses on Nursing,
Anesthesia, Blood, Oxygen,
Medicines and Drugs,
Diagnostic Materials and X-
Ray,
_ The Company will reimburse 80% of the costs of following implants
subject to maximum reimbursement limit as given below in the table;
Sr. Implants The lower of:

No. % of Sum Lump sum
Assured Rs.
1. Artificial limbs 30% 100,000
2. Cardiac Pacemaker – one chamber 20% 50,000
3. Cardiac Pacemaker – two chamber 50% 150,000
Grace Period, Lapse & Reinstatement
If any installment of premium is not received in full by the due date, the
Company shall allow a grace period of 15 days under all premium modes for
premium to be received in full. If premium is not received within the grace
period then the policy will lapse without acquiring any surrender value or
paid up value.
A lapsed policy may be revived within 30 days of the due date of the first
unpaid premium and before the expiry of the policy term subject to medical
examination, at your expense, and payment of outstanding premiums plus
interest from the original due dates of premium payment.
Renewals:
The policy can be renewed within 30 days after the expiry of the current
policy term for the sum assured same as the existing sum assured and at the
premium rates and terms & conditions prevailing at the time of renewal.
However if policy is not renewed within 30 days after the expiry of the
current policy or new sum assured is more than the existing sum assured
then renewal of the policy would be subject to the life assured satisfying
company’s underwriting requirements.
13) BAJAJ ALLIANZ HEALTH CARE

What is Bajaj Allianz HealthCare ?
Bajaj Allianz HealthCare is a three-year health insurance plan, providing
comprehensive health cover with life insurance benefit. You can choose the
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amount of cover for each benefit separately in multiples of the minimum
cover amount, subject to a maximum multiple of 10.
Feature Minimum Cover
Life Cover Rs. 10,000
Hospital Cash (HC) Equal to Room charges (Max. Rs
500 per day and Max. Rs1000 per
day in ICU), Maximum Rs.30, 000
in a policy year.
Post Hospitalisation Benefit 50 % of Claim settled for HC per
day, maximum 5 days in a policy
year.
Surgical Benefit Equal to surgical expenses, Max.
Rs.50, 000 per policy year
Critical Illness Cover Rs. 50,000 during the policy term
Accidental Permanent Rs. 50,000 payable on total
Total / Partial Disability disability and Rs. 25,000
( TPD) payable on partial disability
The benefits payable for all policies under Bajaj Allianz HealthCare plan put
together will not exceed the maximum amount of cover available under
Bajaj Allianz Health Care.
HealthCare Plan – Frequently Asked Questions

Q. 1. Why should I buy Bajaj Allianz HealthCare?
Ans. Bajaj Allianz HealthCare is a comprehensive Health insurance policy,
wherein it offers 6-in-1 insurance cover - i.e., Hospital Cash benefit, Post
Hospitalisation Benefit, Surgical Benefit, Critical Illness Cover, Benefit for
partial and total permanent disability due to accident and Life cover.
Q.2. Who can buy Bajaj Allianz HealthCare?
Ans. Anyone between the age of 18 and 57 can apply for the Bajaj Allianz
HealthCare plan.
Q. 3. How can I buy Bajaj Allianz HealthCare?
Ans. Visit any of our branches, and our Consultants will get in touch with
you and guide you through the required process.
Q. 4. Do I have to undergo medical check-up?
Ans. Yes. A complete medical examination which will be paid by us may
have to be carried out. Our Consultants will guide you through the required
process.
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Q. 5. Why should I buy HealthCare if I have other medical insurance
policies?
Ans. Bajaj Allianz HealthCare can be claimed along with other medical
insurance policies like Mediclaim. Besides, HealthCare provides coverage
for 3 years instead of one year, thereby giving added protection and
coverage. Premiums are guaranteed for 3 years.
Q. 6. What if I miss paying the premiums?
Ans. The policy can be reinstated within 6 months from the due date of the
first unpaid premium subject to the payment of outstanding premiums plus
interest, subject to underwriting.
Q. 7. Do I need to be treated only in particular hospitals, which are in your
panel?
Ans. No, you can choose your own hospital as per your convenience and
belief, provided it is a registered hospital with at least 15 beds. The hospital
need not be in our panel.
Health is Wealth… particularly when health care costs are getting higher
every year.
The emotional and financial burden of a serious accident, major illness or
surgery often lasts beyond the immediate period of the trauma. Bajaj Allianz
HealthCare protects you and your family from the high expenses associated
with medical care and provides you with a comprehensive financial cushion
against various health hazards.
The benefits under this plan are payable in addition to the benefits under all
other plans that you may have, including a Mediclaim policy.
Indicative Premiums*:
Age For Minimum Cover (Male) For Minimum Cover (Female)
20 917 972
30 1011 1091
40 1445 1347
45 1887 1604
50 2454 1937
* Service Tax applicable as per the prevailing rates.
Benefits:
• Life Cover is payable on death of the life assured.
• Hospital Cash Benefit: The worry of meeting expenses relating to
hospitalisation adds to the trauma of hospitalisation. Hospital Cash Benefit
reduces this financial burden and helps you recover with peace of mind. If
you have to stay in hospital as a result of injury, sickness or disease, we will
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pay at the rate of the room charge in hospital, subject to the limit of the
benefit level chosen, for each full day’s stay in hospital exceeding 3 days up
to the total limit allowed in a policy year. The amount is payable in a
lumpsum at the end of the stay in hospital. The benefit period starts after a
waiting period of 60 days from the commencement of risk or reinstatement
of risk, except for accidental injury. Multiple claims can be made in a policy
year.
• Post Hospitalisation Benefit: Recuperating from a surgery/major treatment
takes time, and our Post Hospitalisation Benefit allows you this facility
without adding burden to your wallet. We pay 50% of the Hospital Cash
benefit claim settled per day for a maximum of 5 days in a policy year for
essential follow-up treatment on the basis of recommendation of the
hospital/surgeon.
• Surgical Benefit: The costs of doing a surgery have gone up significantly
today. Our Surgical benefit pays you for a surgery done by a qualified
surgeon performed at a registered hospital with a minimum of 15 beds (as
in-patient) for surgical procedures advised by a qualified
doctor/physician/surgeon. The benefit amount payable is equal to the
surgical expenses (i.e. surgeon’s fee, operation theatre charges and
anesthetist’s charges) subject to the maximum surgical benefit amount
payable in a policy year. The surgical benefit can only be claimed if the
illness covered is diagnosed at least 180 days after the date of
commencement of risk or reinstatement of risk.
There is no waiting period if surgery is done due to an accidental injury.
• Critical Illness Benefit: Some illnesses are critical. They not only alter your
life’s pattern but also result in a financial drain. The Critical Illness Benefit
softens the impact on the family by paying out a lumpsum as per the cover
selected immediately, while other policy benefits continue. The critical
illness benefit can only be claimed if the illness is diagnosed at least 180
days after the date of commencement or reinstatement of risk. We cover 11
critical illnesses: First Heart Attack, Coronary Artery Disease Requiring
Surgery, Stroke, Cancer, Kidney Failure, Major Organ Transplantation,
Multiple Sclerosis, Aorta Graft Surgery, Primary Pulmonary Arterial
Hypertension, Alzheimer’s disease, Paralysis.
• Accident Permanent Total / Partial Disability (TPD): Accidents are
unpredictable and so are the consequences. They may lead to a permanent
disability - partial or total.
This benefit provides a financial cushion against such misfortunes.
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Accidental permanent total disability will mean total and permanent
disability as a result of an accident (within 180 days from the date of
accident) resulting in one of:
Loss of both eyes, Loss of both arms or both hands, Loss of one arm and one
leg,
Loss of one arm and one foot, Loss of one hand and one foot, Loss of one
hand and one leg, Loss of both legs, Loss of both feet, Removal of the lower
jaw. Accidental permanent partial disability will mean permanent disability
as a result of an accident resulting in one of: Loss of one eye, Loss of one
leg, Loss of one arm, Loss of one hand, Loss of one foot. Loss of hand will
mean above wrist, loss of arm will mean above elbow, loss of feet will mean
above ankle and loss of leg will mean above knee.
• Multiple Claims: Hospital Cash, Post Hospitalisation Benefit & Surgical
Benefit can be claimed on multiple occasions as per the coverage selected
(subject to the overall limits) provided the policy is in force at the time of
claim.
Claim Settlement Process
There are two modes of claim settlement – Cashless Service (CLS) facility
at networked hospitals and reimbursement of hospitalisation expenses
(subject to limit as applicable under the plan) wherein treatment is taken in
Non Network Hospital.
Cashless Service Benefits
• We have tied up with Medicare Third Party Administrator (TPA) Services
to provide you with customized, high-quality health benefit services under
this product. Through TPA, we have in our network, easy and fast access to
some of the best Hospitals, Nursing Homes and other Medical Resources.
You can avail Cashless Service in these networked hospitals. On issuance of
a policy, you would be provided with a Health Card (Photo Identity Card)
and a Guide Book, which would contain list of Network Hospitals, the
details how to go about the Cashless Service in case of planned and
emergency hospitalisation and Hospitalisation Intimation Form/Pre-
authorization Form to be filled up by your attending Doctor for
hospitalisation in empanelled hospitals.
• The Medicare TPA will maintain a 24/7 Help line on Toll free number as
well as mobile numbers to facilitate any medical emergency requirements.
• The Cashless Service would be facilitated by the TPA and will help you
avail of the hospitalisation benefits quickly through our network hospitals
without any caution deposit etc. To avail of the Cashless Service facility all
you need to do is to contact our TPA at any of their offices which are
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convenient to you and submit Hospitalisation Intimation /Pre-authorization
Form.
• In case of emergency please produce your Health Card to take admission at
network hospital. Within 48 hours of hospitalisation, contact the TPA to
obtain the cashless authorization and complete the formal process of
admission.
• If the TPA sanctions cash less request, the admissible claim amount would
directly be settled with network hospital through TPA. Payment by you at
the time of discharge will only be required for the cost of inadmissible items
not covered by the policy under this plan.
• Cashless Service is restricted only to those hospitalisation expenses which
are directly related to the illness which necessitate hospitalisation.
• Cashless Service is not available for Pre/Post hospitalisation treatment.
Benefit through Reimbursement (Non Cashless Service)
You have the right of getting treated in any Hospital any where in India. If
treated at Non-Network Hospital we shall reimburse your hospitalisation
expenses (subject to maximum allowed under the policy) within 7 days on
submission of all bills & requisite documents.
14) BAJAJ FAMILY CARE FIRST
The health of your family is very important to you. When faced with
hospitalisation for one or more family members, the medical bills can
severely dent your savings. The cost associated with hospitalisation might be
very high and you need to be better prepared for such an emergency.
Buying Medical Insurance for each individual family member can be
cumbersome and expensive. What if there is a solution that gives you a
single tool to cover your entire family – all in one?
Bajaj Allianz Family CareFirst presents an innovative yet practical health
care plan for everyone in your family including children and parents. This
unique hospitalisation plan gives you a 3-year health cover for your entire
family and allows You to renew the policy after every 3 years to keep Your
family covered till the age of 74 years. So no separate accounts, repetitive
paperwork or payment adjustments for each member. Secure Your entire
family in one shot.
How does the plan work?
The Policy covers hospitalisation expenses ranging from Rs. 1 lakh to Rs. 10
lakhs. This means, if you opt for a sum assured of Rs. 5 lakhs for Your
family, You and Your family together can avail up to Rs. 5 lakhs every year
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to meet Your hospitalisation expenses, subject to limits on reimbursement of
expenses, waiting period and exclusions as mentioned below.
All the life assureds covered under the policy will be referred to as
Member(s).
The proposer or his/her spouse, if included, who so ever is of higher age
shall be referred to as Primary Member and all other life assureds as
dependent Members.
Children of the Primary Member shall be covered provided they are
economically dependent on parent(s) and are not married.
Key Benefits
_ Coverage from 3 months to age 74 with guaranteed renewals
_ 3 year premium guarantee for each policy term
_ Hospitalisation Cover in leading hospitals across the country.
_ 15% discount on premium on every renewal
_ No claim bonus in the form of increase in sum assured@5% every year
_ Day Care Treatment for 125 day care procedures
_ Pre-Hospitalisation and Post-Hospitalisation Benefit
_ Reimbursement of Ambulance expenses
_ Choice to select Health Critical Illness rider
_ Choice to include Your spouse, children and parents
_ Cash Less Service Facility in leading hospitals across the country
Hospitalisation Cover
Following expenses incurred during the hospitalisation (for at least
continuous period of 24 hours) for in-patient treatment would be covered
under the policy.
_ Room rent and Boarding expenses
_ Nursing expenses
_ Doctor’s fees
_ Operation theatre charges
_ Cost of Anesthesia, Blood, Oxygen, Medicines and Drugs, Diagnostic
Materials, X-Ray, Surgical Appliances, any disposable surgical
consumables, dialiysis, radiotherapy, Artificial Limbs, stents and implants,
and pacemaker.
Pre-Hospitalisation and Post-Hospitalisation Benefit
A flat benefit of 3% of the reimbursable hospital expenses will be paid on
each hospitalisation claim towards pre-hospitalisation and post-
hospitalisation expenses.
Ambulance Charges
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In case the hospitalisation requires an ambulance, the expenses for
ambulance will be reimbursed by us subject to a maximum reimbursement
of Rs. 1,000 for a member in a policy year provided the member is
hospitalized for more than 24 continuous hours.
Cash Less Service Facility
_ Cash Less Services (CLS) will help You avail the hospitalisation benefits
without any advance payment in the hospital and facilitate quick delivery of
services through Network Hospitals (NWH).
_ Third Party Administrators (TPA) of the Company facilitates the Cash
Less Services.
_ On issuance of the policy, the TPA will provide the member(s) a photo
identification card and a guide book, which would contain a list of NWH,
the details explaining the process for application of CLS and hospitalisation
intimation form / pre-authorization form to be filled up by Your attending
doctor for hospitalisation in NWH.
_ The TPA will maintain 24/7 helpline on toll free number as well as mobile
number to facilitate any medical emergency requirement.
_ To avail of the CLS facility all You need to do is to contact the TPA at any
of their offices which are convenient to You and submit the hospitalisation
intimation form / pre-authorization form.
_ In case of an emergency the member need to produce the photo
identification card in NWH to get admission and within 48 hours of
hospitalisation You will have to contact the TPA to obtain CLS
authorization.
If CLS is authorized then Your hospitalisation expenses will directly be
settled by the TPA with NWH to the extent it is reimbursable and the balance
of the hospitalisation expenses would be settled by You at the
time of discharge.
No Claim Bonus
_ If none of the Member claims during the previous policy year, the sum
assured under the plan will be increased by an amount equivalent to 5% of
the basic sum assured in the subsequent policy year subject to a maximum
increase of 25% of the basic sum assured over the duration of the policy
including renewals, where the basic sum assured means the sum assured
chosen as on policy commencement date.
_ However if a claim is made by any of the Member(s) after this provision
has come into force, then the sum assured under the policy will be reduced
back to the sum assured chosen as on policy commencement date in the
subsequent policy year.
Choices available to You
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Health Critical Illness rider
_ This cover provides a lump sum benefit equal to a chosen sum assured on
diagnosis of the specified Critical Illnesses irrespective of the status of
reimbursement of medical expenses.
_ Only the Primary Member and his/her spouse shall be covered.
(Please refer to the Health Critical Illness rider brochure for more details.)
Inclusion of family members
_ On any policy anniversary, You have the option to include Your spouse,
parents or children under the family policy.
_ The inclusion of new members in the policy will be subject to
underwriting of the new members and the waiting period for new members
will apply afresh from the policy anniversary they join the policy.
_ On inclusion of new member(s), the revised premium shall be applicable.
Eligibility
Minimum Maximum
Entry Age
• Primary Member and Spouse of 18 years 56 years for a new
policy
Primary Member 50 years if health
critical illness
rider is opted for
71 for a renewed policy
• Parents 68 years for a new policy
71 for a renewed policy
• Children 3 months 18 years
Sum Assured 1, 00,000 10, 00,000
Maximum Maturity Age at which 74 years for Primary Member,
risk cover expires Spouse of Primary member and parents
65 years if health critical illness rider is
opted for
21 years for children
Policy Term 3 years
Mode Yearly, Half-Yearly, Quarterly and
Monthly
Monthly is permitted only by salary deduction and ECS only.
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15) BAJAJ ALLIANZ FAMILY ASSURE
It is also an endowment plan which offers Protection as well as Investment.
Important Details
Parameter Details
Minimum Age at Entry 0 years, risk commences at age 7.
Minimum age at Entry for all riders is
18 years.
Maximum Age at Entry 60 years( 50 years in case of all
additional rider benefits)
Additional Rider Benefit Ceasing 65 years for all riders
Age
Minimum Policy term 10 years (In case of minor life,
minimum policy term is 18 less age at
entry of the minor life.)
Minimum Premium Rs. 5000 per yearly installment,
Rs. 2500 per half-yearly installment,
Rs. 1250 per quarterly installment,
Rs. 500 per Monthly mode.
Monthly mode is available through ECS
and Salary saving scheme only.
Minimum top-up premium is Rs. 5000.
Minimum Sum assured 5 X Annualized Premium
Maximum Sum assured Policy term X Annualized Premium
For base cover or base cover with
ULADB rider and/or ULAPTPDB
rider
Maximum Sum assured 5 X Annualized Premium
For base cover with UL CIB rider
and/or UL HCB rider
16) BAJAJ ALLIANZ CENTURYPLUS II
Bajaj Allianz CenturyPlus II - Score a century with your investment plan!

Flexible and systematic investments are always good for you. At Bajaj
Allianz Life Insurance, we value your investment and reward you for regular
investments, giving you unmatched benefits with great returns.
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Bajaj Allianz CenturyPlus II offers you a limited premium payment term
option and a unique combination of protection and prospect of attractive
returns. With 100% allocation in the 2nd policy year and thereafter, it
ensures that your investment income gets accelerated and you reap
benefits from a plan that delivers prosperity and happiness to you.
Key features of Bajaj Allianz CenturyPlus II
• Guaranteed life cover of sum assured plus fund value.
• Get full 100% allocation to your funds from the 2nd policy year
onwards.
• Guaranteed Addition to enhance your fund value every year from the
6th policy year.
• Choice of 2 investment portfolio strategies to manage your
investments better. Offering the special Wheel of Life portfolio
strategy, which will help you to balance and safeguard your
investment.
• Also if you want to manage the mix of assets for your policy on your
own, you have a choice of 7 investment funds, with complete flexibility
to switch money from one fund to the other, to manage your
investments better.
• Get the option of limited premium payment ranging between 3 to 10
years.
• Your policy continues to participate in the investment performance of
the fund(s) even if you discontinue premiums in the first three policy
years.
• Flexibility of unlimited number of partial withdrawals at any time after
3 years from commencement of the policy, provided 3 full years'
premiums are paid.
• Flexibility to decrease your regular premium at any policy anniversary,
to suit your changing needs.
• At maturity, you can take your fund value in a lumpsum or as periodic
instalments spread over a maximum period of 5 years.
• A host of optional additional rider benefits which include assurance to
your family with accidental death benefit and accidental permanent
total/partial disability benefit.
• Option to pay unlimited Top-up Premiums anytime during the tenure
of your policy, to further enhance your savings.
How does Bajaj Allianz CenturyPlus II work?
Premiums paid by you, net of premium allocation charge, if any, are invested
as per the portfolio strategy chosen by you at the unit prices of the fund(s).
Your fund value is the total value of units that you hold in the fund(s). The
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insurance cover charges, policy administration charges and the additional
rider benefit charges (if any) are deducted through monthly cancellation of
units. The Fund Management Charge is adjusted in the unit price.
From the end of the 6th policy year, every year, a percentage of the first
year's annual premium and, if applicable, a percentage of the fund value, is
added to your fund(s) by the Company as Guaranteed Addition.
Over and above the fund value, throughout the policy term, you have a risk
cover of the Sum Assured chosen by you.
Premium Payment Term: You have the flexibility to select any premium
paying term ranging between three to ten years.
Bajaj Allianz CenturyPlus II offers you the following cover: Your Sum
Assured is always equal to 5 (five) times your Annualized Premium.
Death Benefit
• The Death Benefit will be the "Sum Assured in respect of regular
premium and Top-up Premium (if any) plus the fund value in respect of
regular premium and Top-up Premium (if any)''.
• If three years’ regular premium has not been paid and the policy has
lapsed, then death benefit will be the fund value in respect of regular
premium and Top-up Premium (if any).
Guaranteed Addition
If your policy is not terminated, we shall allocate a Guaranteed Addition at
the end of the 6th policy year, and thereafter at the end of each policy year,
at the unit price, as applicable on date of allocation of the guaranteed
addition, for an amount equivalent to:
Policy Year End Guaranteed Addition as percentage *Guaranteed

Addition as
percentage
of first years' Annualized Premium of Regular
Premium Fund
Value
6 to 10 6% 0.25%
*Guaranteed Addition as percentage of fund value in respect of regular

premium will be allocated only to policies where Annualized Premium as
on the date of allocation is greater than or equal to Rs. 100,000.
No Guaranteed Addition will be allocated on fund value in respect of Top-up
Premium (if any).
Maturity Benefit
On maturity, the fund value in respect of regular premium and Top-up
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Premium (if any), will be paid.
Surrender Benefit
• The surrender value of the policy will be equal to the fund value less
surrender charge, if any.
• Your fund value shall be determined on the basis of the unit price as
applicable on the date of receipt of written request to surrender the
policy. However, if no such request is received, then surrender value
shall be based on the fund value as on date of termination of the policy.
• After three years from the date of commencement of the policy, you
have the option to avail of surrender benefit by complete surrender of
units at any point of time.
Additional Rider Benefits available
The following additional rider benefits in the form of riders can be availed of
At the option of Policyholder.
• UL Accidental Death Benefit Rider (UL ADB)
• UL Accidental Permanent Total/ Partial Disability Benefit Rider
( ULAPTPDB)
Important details of the Bajaj Allianz CenturyPlus II Plan
Parameter Details
Minimum Age at Entry 8 years
Minimum age at entry for
all riders is 18 years
Maximum Age at Entry 60 years
(50 years in case of all Additional
Rider Benefits)
Minimum Maturity Age 18 years
Additional Rider Benefit
Ceasing Age 65 years
Minimum / Maximum Term 10 years
Minimum Premium Paying Term 3 years
Maximum Premium Paying Term 10 years
Minimum Premium Rs 15,000 per yearly installment,
Rs 7,500 per half-yearly installment
Rs 1,500 per monthly mode
(Monthly mode is available through ECS
and Salary Saving Scheme only)
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Minimum Top Up Premium is Rs. 5,000
Minimum / Maximum
Sum Assured 5 times Annualized Premium
17) BAJAJ ALLIANZ UNITGAIN PROTECTION PLUS
“The plan that takes care of your insurance and investment requirements for
life”
With Bajaj Allianz UnitGain Protection Plus we have formulated a unique
combination of protection and prospects of attractive returns with
investment in various mix of assets to make a perfect plan to last you a
lifetime prosperity and happiness.
Key Benefits of Bajaj Allianz UnitGain Protection Plus
• Guaranteed life cover, with a flexibility to choose insurance cover
according to your changing needs.
• Additional Sum Assured shall be payable in case of accidental death
• 100% allocation to your funds from the 4th year onwards.
• Guaranteed Addition to enhance your fund value every year from the sixth
policy year.
• Choice of 2 investment portfolio strategies to manage your investments
better.
Offering the special Wheel of Life portfolio strategy, which will help you to
balance and safeguard your investment.
• Your policy continues to participate in investment performance of the
fund(s) even if you are unable to pay 3 full years' premium.
• Flexibility of partial withdrawals at any time after 3 years from
commencement of the policy provided 3 full years' premiums are paid.
• Flexibility to increase or decrease your regular premium to suit your
changing needs.
• Flexibility to pay unlimited top-up premium during the tenure of your
policy, an additional lump sum which gives a boost to your investment
portfolio.
• Flexibility to add additional rider benefits which gives you and your family
extra protection
How does Bajaj Allianz UnitGain Protection Plus works?
Bajaj Allianz UnitGain Protection Plus is a simple to understand unit-linked
life insurance plan. Premiums paid by you, net of premium allocation
charge, are invested as per the portfolio strategy of your choice (&, if
applicable, in fund(s) of your choice) and units are allocated depending on
the unit price of the fund(s). The fund value of your policy is the total value
100
of units that you hold in the fund(s). From the end of the 6th policy year,
every year, a percentage of the first year's annual premium is added by the
Company as Guaranteed Addition. The mortality charge, policy
administration charge and rider premium charges (if any) are deducted
monthly through cancellation of units. Fund Management Charge is adjusted
in the unit price.
What are my Investment Options and Funds?
Bajaj Allianz UnitGain Protection Plus provides you with two unique
portfolio strategies, which can be chosen at the inception of the Policy or on
subsequent policy anniversary:
1) Investor Selectable Portfolio Strategy
2) Wheel Of Life Portfolio Strategy
a) Investor selectable Portfolio Strategy: If you want to allocate your
premiums based on your personal choice and decision, you can opt for this
strategy. You have a choice of seven (7) investment funds to make Your
investment decision.
Premium Apportionment: You can choose to invest fully in any one fund or
allocate your premiums into the various funds in a proportion that suits your
investment needs. The proportion of allocated premium to any fund must be
at least 5%. At any policy anniversary, you also have the flexibility to
change the proportion of future premiums to the funds.
b) Wheel of Life Portfolio Strategy:
• We provide you with “Years to maturity based portfolio management”.
• At the commencement of the Policy, your premium (regular premium and
top up premium, if any) would be allocated in various funds (namely Equity
Index Fund II, Equity Growth Fund & Accelerator Mid-Cap Fund)
• On each policy anniversary, we will reallocate your fund value among
various funds in the proportion based on your outstanding years to maturity.
• The premiums (regular premium and top up premium, if any) paid in that
particular policy year will also be allocated in the same proportion.
• This will ensure that a balance is maintained between your “years to
maturity” and level of risk to your investments to optimize the returns.
Important details of the plan:

Parameter Details
Minimum Entry Age 8 years (18 years in case of
Additional Rider Benefits)
Maximum Entry Age 60 years (50 years in case of
Additional Rider Benefits)
Minimum Age at Maturity 18 years
101
Maximum Age at Maturity 70 years (Additional Rider Benefits
ceasing Age 65 years)
Minimum Policy Term 10 years
Maximum Policy Term Customer selectable term subject to
max maturity age
Minimum Regular Premium Rs. 12,000 per yearly installment
Rs. 6,000 per half- yearly installment
Rs. 1,000 per monthly installment
(Monthly mode is available through ECS
and Salary Saving Scheme only).
Maximum Regular premium No Limit
Minimum Top Up Premium Rs. 5,000
Maximum Top Up Premium No Limit
Minimum Sum Assured 5 times Annualized Premium
Maximum Sum Assured Policy Term times Annualized Premium with
base cover [Only 5 times Annualized
Premium with base cover & Rider(s)]
Guaranteed Addition
If your policy has not been terminated, we shall allocate guaranteed addition
at the end of the sixth policy year and thereafter at the end of each policy
year at the unit price as applicable on date of allocation of the guaranteed
addition for an amount equivalent to the following:
Annual Premium Guaranteed Addition as percentage of First years’
Size at Annualized Premium from policy year end 6 and above
the inception of
the policy
12, 000-24, 999 1.50%
25, 000-99, 999 5.50%
100000-249, 999 6.50%
250000 and 7.00%
above
No Guaranteed Addition will be allocated on fund value in respect of top up

premium (if any).
Guaranteed Addition will be allocated to your policy even if you have
stopped paying premiums.
102
Key developments for Bajaj Allianz Life Insurance Company Ltd.
1) Bajaj Allianz Life Insurance Company Ltd. Reports Earnings Results for
the First Quarter of 2010
07/16/2009
Bajaj Allianz Life Insurance Company Ltd. reported earnings results for the
first quarter of 2010. For the quarter, the company posted a profit of INR
6,800 million, against a loss of INR 30 million. New business premium
underwritten by the company stood at INR 5,770 million, registering a
negative growth of 30%.
2) Bajaj Allianz Life Insurance Launches Invest Plus, to Offer Upfront
Minimum Guaranteed Investment Returns at the Beginning of Each Year
06/15/2009
Bajaj Allianz Life Insurance Company Ltd. has launched Invest Plus, which
offers upfront minimum guaranteed investment returns at the beginning of
each year. Invest Plus is the first-of-its-kind traditional plan that offers
upfront minimum guaranteed investment returns at the beginning of each
year and a guaranteed maturity value so that customers can feel protected at
all times and plan their investments without any worries. Invest Plus offers
guaranteed benefits in these uncertain times. The USP is the transparency of
a ULIP product in a traditional product. The minimum guaranteed
investment returns works towards the benefit of the customer as he gets an
upfront minimum guaranteed rate of returns. This would be beneficial
irrespective of market conditions as he is equally compensated by
guaranteed returns. Minimum guaranteed returns stand for a rate of return
which is declared at the beginning of each financial year itself and promises
to offer the customer the same return for the year irrespective of the market
scenario.
3) Dhanalakshmi Bank and Bajaj Allianz Sign Strategic Partnership
05/28/2009
Dhanalakshmi Bank has joined hands with Bajaj Allianz General Insurance
Co. Ltd. and Bajaj Allianz Life Insurance Company Ltd. to offer both life
and non-life insurance products. Bajaj Allianz has also launched a co-
branded product called Dhanam Suraksha, a health insurance product with a
family-floater plan, which will be available exclusively for the bank's
customers, a release here said. Through the alliance, Dhanalakshmi Bank
will make available Dhanam Suraksha along with other Bajaj Allianz
Insurance products and services to its customers. These include motor
insurance, health insurance, home insurance and life insurance which will be
103
provided to the bank's customers through its 181 branches and 26 extension
counters.
RESEARCH METHODOLOGY
Research methodology is a way to systematically solve the research

problem. Research methodology constitutes of research methods, selection
criterion of research methods, used in context of research study and
explanation of using of a particular method or technique so that research
results are capable of being evaluated either by researcher himself or by
others. Why a research study has been undertaken, how the research problem
has been formulated, why data have been collected and what particular
technique of analyzing data has been used and a best of similar other
question are usually answered when we talk of Research methodology
concerning a research problem or study. The main aim of research is to find
out the truth which is hidden and which has not been discovered as yet.
The area of the study related with informing different people about life
insurance policies in the region of Lucknow.
SAMPLE DESIGN
A sample design is a definite plan for obtaining a sample from a given

population. It refers to the techniques or the procedure the researcher would
adopt in selecting items for the sample. Sample design may as well be drawn
from the population to be included in the sample i.e. the size of the sample.
Sample design is determined before data are collected.
104
During my study I have taken 60 prospects as the size of sample.
TOOLS USED
To know the response, I have used the questionnaire method. If one wishes
to find what prospects think or know, the logical procedure is to ask them.
This has led marketing researchers to use the questionnaire technique for
collecting data more than any other method.
In this method questionnaire were distributed to the respondents and they

were asked to answer the questions in the questionnaire. The questionnaire
were structured non disguised questionnaire because the question which the
questionnaire contained, were arranged in a specific order besides every
question asked were logical for the study, no question can be termed as
irrelevant.
The questionnaire was non-disguised because the questionnaire was

constructed so that the objective is clear to the respondent. The respondents
were aware of the objective. They knew why they were asked to fill the
questionnaire.
With the help of following techniques, which are used by Bajaj Allianz I
have analyzed that the how techniques of sales promotion are useful
105
Questionnaire used was as follows:
Name:
Address:
Contact number:
Age:
1) Whether you are Married or Unmarried? (.M for married, U for
Unmarried) :
2) What is your Educational Qualification?
3) What is your Profession?
4) How many People depend on you?
5) What is your Annual Income?
6) Which vehicle you own?
7) What are the recent developments in your family?
• New House
• New Baby
• New Car
8) Where do you invest money?
• Savings Bank Account
• Insurance Policies
• Shares
• Mutual Fund
106
• Real Estate
DATA COLLECTION
PRIMARY DATA SOURCES

• Through interaction with insurance care consultant
• Through questionnaires filled from the insurance care consultant.
SECONDARY DATA SOURCES:

• Through internet, various official sites of the companies.
• Through pamphlets and brochures of the companies.
• Journals & Magazine
LIMITATIONS OF THE STUDY
Following limitations were faced during the study:

1. While designing the questionnaire it was kept in mind to gather more
and more information from each target person. For the neither present
nor descriptive questions could have served the purpose. Therefore the
questionnaire contained in the open-ended questions.
2. The study was conducted in Bajaj Allianz in Lucknow city, which has
60 to 100 insurance prospects only. The sample size was of 50
insurance care consultants only so that accuracy of data so collected
could be absurd covered by circulation of questionnaire.
107
3. The accuracy of indications given by the respondents may not be
consider adequate as whether the language used in the questionnaire is
understood by the respondent cannot be taken for granted.
4. The study is based on the information gathered from the insurance
care consultants. Therefore in such case it is possible that the
information supplied might be biased because the insurance care
consultant might have shown partiality towards their insurance
policies.
5. Since the survey was limited to 50 insurance prospects it is rather
difficult to give a precise conclusion but I have tried to the best of my

capability to give the conclusion on a comprehensive manner.
108
RESULT
• Most of investors not fully aware about Life insurance policies and their
advantage.
• It was found most of the investor prefer, less risk taking saving scheme
or fixed deposits.
• Some of the people, who were related to rural area, did not know about
facility for investment of money in Life Insurance Policy schemes.
• The proportion of investor and non-investor 20% & 80%.
• The investors were interested more in Policies of LIC because it is a

Government body.
• Some of the investors were pleased to know about New FamilyGain

and said that it is a very good plan and is very much affordable by
middle class people.
109
SUGGESTIONS &
RECOMMENDATIONS
Through out the project work I have tried to my extent to learn more and
more so that I enable myself to deliver the best services from my part. I always
focused my services to full satisfaction whether it would for employer or for
customer. So during this practical learning process whatever I have realized to
improve the division of the company is as follows:
• Tapping the up coming market - Semi Urban Market as there is a lot of

opportunity. Most of the Life Insurance companies are operating in the
metros and big cities as per their present branch office locations. If they
have to increase their market size they have to open more distribution
centers at the various urban and semi-urban markets.
• The company always should have proper communication with its front
office as well as back office workers to increase the morale and
productivity.
• The company should always have proper planning for gifts/incentives

for employees on various occasions or on competitions.
• Premium and economical class of services should be launched by the

company to serve the varied nature of customers.
• Service cum awareness camps should be run by the company in remote

areas.
. Distribution channel needs more strength.
. Improvement in services through feedbacks from customers is

recommended.
110
LIMITATIONS
As every aspect of life has its own limitation the same goes
with research. The few limitations attached to this research
are:
• As time and tide waits for none so is the case with this research. A
much more detailed analysis could be done had three been more time
spent for data collection. Due to lack of time data from the all places
could not be collected.
• Management of all the activities from one place limited the research
with in it self as appropriate data, which was required, was not
available.
• The views of respondents are likely to change as human nature is very

dynamic.
• The result figure may be biased since the subjects/investors may

provide wrong information.
• The survey may not give the whole scenario of Indian market.
• Some subjects/investors were not co–operative on their approach.
111
BIBLIOGRAPHY
www.bajajallianzlife.co.in
www.en.wikipedia.org
www.google.com
Insurance Principles and Practice- By Noorul Hasan
Ambar Prakashan Kendra, Lucknow
2009 Edition
Page Numbers- 15, 16, 77
112

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A

PREPARED FOR AND PRESENTED TO

BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED

UNDER THE GUIDANCE

SUBMITTED IN PARTIAL FULFILMENT FOR THE AWARD OF DEGREE OF

CERTIFICATE BY THE COMPANY

THIS IS TO CERTIFY THAT “SAMARTHA SHUKLA” , STUDENT OF

Mr. ABHISHEK RANJAN DUBEY Mr. RAJESH KHANNA

This is to certify that “Samartha Shukla”, student of M.B.A.

I express my thanks to all sales managers under whose able

S.NO. TOPICS Page No.

Bajaj Allianz Life Insurance Co. Ltd. is a joint venture between

In June 2008, Bajaj Allianz entered into partnership with Thomas

A comprehensive list of policies and products offered by Bajaj

WOMEN HEALTH CHILDREN PLAN JUST LAUNCHED

In my training Period, I have focused mainly on two products

Insurance company: “New Family Gain and New Unit Gain”.

NEW FAMILY GAIN

In this product, the minimum premium which is to be paid by

It is a unit linked plan and the Lock-in period is 3 years. After 3

In this product customer has the facility of getting a premium

The customer will get benefit of Section 80C and Section

NEW UNIT GAIN

In this product, the minimum premium which is to be paid by

The maximum premium for this product has no limit. The

The Sum Assured is 5 times the premium amount or the Fund

It is a unit linked plan and the Lock-in period is 3 years. After 3

The customer will get benefit of Section 80C and Section

Human Life Value Concept

This concept tells about value of a human life, particularly when

Fixed Deposit compared with Insurance

In fixed deposit money is locked in for 5 or more years and in

In fixed deposit, at maturity TDS (Tax deduction at source) is

In fixed deposit the rate of return is about 8-10% but in Insurance

In the training period, I have tried to inform people about the

1) To know the consumer responses about Bajaj Allianz

life insurance policy.

2) To know about the products of Bajaj Allianz Life

3) To know about the objections of people for not taking

the Insurance policy.

4) To know the need for Life Insurance.

Insurance constitutes one of the major segments of

Another major issue is the effects on LIC after the

An insurance contract is based on some basic

The concept of insurance is believed to have

The early history of insurance in India can be traced

TIME LINE IN INSURANCE HISTORY (MAJOR

MEANING OF LIFE INSURANCE

NEED FOR LIFE INSURANCE

Why Do I Need Life Insurance?

Savings and Investments

HISTORY OF LIFE INSURANCE

Risk protection has been a primary goal of humans

In another part of the world, nearly 4,500 years ago, in the

Illegal almost everywhere else in Europe, life insurance in

BENEFITS OF LIFE INSURANCE

ROLE OF LIFE INSURANCE IN THE

The Life Insurance Industry has an enviable track record

SECTION 45 OF THE INSURANCE ACT, 1938

“No person shall allow or offer to allow, either directly or

LIFE INSURANCE IS INSURANCE AS WELL AS

Element of Protection: Life insurance is the best way of securing against

Element of Investment: Life insurance also provides the benefit of

KINDS OF LIFE INSURANCE POLICIES