TAKE CONTROL OF

THE WAY YOU GET

YOUR RETURNS

A Non linked, Participating, Individual Life Insurance Savings Plan

 ABOUT BAJAJ ALLIANZ LIFE INSURANCE

Bajaj Allianz Life Insurance Co. Ltd., one of India’s leading private life insurers,
is a joint venture between Bajaj Finserv Limited, one of the most diversified non-
banking financial institutions in India, and Allianz SE, one of world’s leading
global insurer and asset manager. This joint venture Insurance Company
incorporates global expertise with local experience. The comprehensive,
innovative solutions combine the technical expertise and experience of Allianz
SE, and in-depth market knowledge and goodwill of “Bajaj brand” in India.
 BAJAJ ALLIANZ LIFE ACE

Protecting and saving for your tomorrow is one of those aspects where you
would like your plan to be suitable for you and your family's needs. How
amazing would it be if we could create our own financial plan - where you could
design it yourself!

Keeping this in mind, Bajaj Allianz Life Insurance Company is proud to present
Bajaj Allianz Life ACE, a truly modular product where you are the one in charge
of your financial plan. The product offers a life cover to secure your family in
case you are not around, choice of income as you would want or a lump sum to
meet your life goals.
 WHAT MAKES BAJAJ ALLIANZ LIFE ACE
BETTER FOR YOU?

• Flexibility: Decide if you want an income or lump sum or both

• Choice of Income:
o Option to receive income from the end of first month or after a fixed period
based on your need
o Choose if you want income for a limited term or up to 100 years of age
o Decide if you prefer a level income or an increasing income

• Protection: Protect your loved ones with a life cover throughout the policy
term, up to 100 years

• Premium payment term: Choice of paying premiums for 5, 6, 7, 8, 9, 10 and 12

years

• Tax benefits1: On premiums paid and benefits received as per prevailing tax
laws

1
Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your
tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.
 HOW DOES THE PLAN WORK?

Early Income

An option that provides you income in arrears from the 1st policy month/ year
after deferment period by way of cash bonuses (if declared) and guaranteed
income (GI).

Increasing Income
An option that provides an increasing income in arrears starting after the
Premium Payment Term and Deferment period. The income will be a mix of
guaranteed income and cash bonus (if declared).

Wealth
An option that provides you a lump sum at the end of the policy term

You can choose both of these options to design the financial plan of your choice.
 HOW DO YOU DESIGN YOUR PLAN?

Step 1

Choose how you want to receive the proceeds of your policy by selecting one or
more options

Step 2

Choose the premium that you wish to save every year

Step 3

Choose how long you want to pay, when you want to start the benefits and for
how long you want them.

Your insurance plan is now all set!

 OPTIONS IN DETAIL

Early Income

2
Conditions Apply - The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors.
3
Bonuses are not guaranteed and it depends on the company's performance.
4
Total Premium (the sum of all premiums paid under the policy; even refers to the Single Premium) is total of all the premiums received, exclusive of
extra premium, rider premium and GST & /any other applicable tax levied, subject to changes in tax laws.
 OPTIONS IN DETAIL

Increasing Income

• Income Benefit: You shall receive an income which comprises of a Guaranteed²

Income and cash bonuses, if declared. This income is paid in arrears after the end
of the Premium Payment Term and Deferment period and is payable till the end of
policy term. These incomes will be declared as a percentage of the Benefit Sum
Assured. Benefit Sum Assured is guaranteed to increase at 5% p.a. (on
compounding basis) every year. The increased Benefit Sum Assured will be used
for calculation of respective year's Guaranteed Incomes and Cash bonuses³.
Guaranteed² Income shall be 2% of the Benefit Sum Assured.
• Deferment period: You will have an option to defer the start of your income by up
to 5 years
• Maturity Benefit: On maturity of the Policy, you will receive:
4
• Sum Assured on Maturity, i.e. 105% of total premiums paid, plus
• Accumulated Income benefits, if any plus
• Terminal bonus (if declared)
• Death Benefit: In case of death of the Life Assured during the policy term, the
death benefit will be paid as:
• Sum Assured on Death, plus
• 105% of Accumulated Income benefits, if any plus
• Terminal Bonus (if declared)

2
Conditions Apply - The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors.
3
Bonuses are not guaranteed and it depends on the company's performance.
4
Total Premium (the sum of all premiums paid under the policy; even refers to the Single Premium) is total of all the premiums received, exclusive of
extra premium, rider premium and GST & /any other applicable tax levied, subject to changes in tax laws.
 OPTIONS IN DETAIL

Wealth

• Maturity Benefit: On maturity, you will receive a lumpsum amount equal to:
• Maturity Sum Assured, i.e. Maturity Sum Assured Rate x Annualised Premium, plus
• Accrued Simple Reversionary Bonus (if declared), plus
• Terminal Bonus (if declared)

• Death Benefit: In case of death of the Life Assured during the policy term, the death
benefit will be paid as:
• Sum Assured on Death, plus
• Accrued simple reversionary bonus (if declared), plus
• Terminal Bonus (if declared)

Note:
• The Sum Assured on Death will be 11 times of Annualised premium. At no time the Death Benefit will be
less than the Guaranteed Death Benefit of 105% of Total Premiums4 paid. If there is any shortfall, the
same will be added to the Death Benefit.
• The death benefit will be paid-out as a lump-sum, and the policy will terminate if not opted to take the
death benefit in instalments .
• Annualised Premium is exclusive of any extra premium, rider premium, GST & cess, if any.
• Total Premium4 is the sum total of all the premiums received and is exclusive of extra premium, rider
premium and GST & cess, if any.
• Please note that GST & cess (if any) will be collected over and above the premium under the policy.
• The Benefit Sum Assured will be used for the calculation of Guaranteed2 Income, Cash Bonus3, Simple
Reversionary Bonus and Terminal Bonus and will not paid on any event.
• Sum Assured on Maturity is equal to (i) 105% of the Total Premiums4 paid under Early Income and (ii)
Maturity Sum Assured under Wealth option.

2
Conditions Apply - The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors.
3
Bonuses are not guaranteed and it depends on the company's performance.
4
Total Premium (the sum of all premiums paid under the policy; even refers to the Single Premium) is total of all the premiums received, exclusive of
extra premium, rider premium and GST & /any other applicable tax levied, subject to changes in tax laws.
 FLEXIBILITIES UNDER THE PLAN

Option to Accumulate Income Benefits

You will have an option to accumulate the Income benefits in the plan. Once this
option has been exercised, the Guaranteed Incomes and Cash bonuses, if declared,
would be accumulated until a request is submitted to take out this accumulation.
This option can be exercised any time during the Policy term. The benefits will be
accumulated on yearly frequency, and you will earn an investment return on the
accumulated corpus.

Anytime during the policy term, the policyholder will have the option to withdraw,
in part or in full, the accumulated income benefit. The policyholder will have the
flexibility to discontinue this option at any time. This option is not applicable to
Wealth product option.

The accumulation will be at an investment return of prevailing 10-year G-Sec yield

p.a. which will be declared by the company every year.

Goal Protection Benefit (GPB)

By opting for this benefit, you can ensure that your savings goal will remain intact
even if you are not around. Thus, providing your family a financial protection net
by continuing the benefit payouts to them as you have planned.
 FLEXIBILITIES UNDER THE PLAN

How the plan works if you have opted for Goal Protection Benefit:

On survival (until maturity): Your Income benefits and maturity benefit will be
paid to you as and when due.

CB
GI

Guaranteed Cash
Income Bonus
Premium payment Term

On Death (during the PPT): On Death of the Life Assured during the Premium
payment Term,
• The Sum Assured on Death plus 5% of accumulated income benefit, if any shall
be paid immediately
• The policy will be continued, and no future premiums will be collected, and
• Your nominee will receive the Income benefits, if any, and maturity benefit as
and when due till maturity
• Simple Reversionary bonus, if any, will continue to accrue in the policy
• The accumulated Income benefits, if any, will remain accumulated in the policy

CB
GI

Premiums Guaranteed Cash

not collected Income Bonus
Premium payment Term
The policy will terminate on payment of last Income benefit and Maturity benefit.
 FLEXIBILITIES UNDER THE PLAN

On Death (after the PPT): On Death of the Life Assured after the Premium
payment Term,
• The Sum Assured on Death plus 5% of accumulated income benefit, if any
shall be paid immediately
• Your nominee will receive the Income benefits and maturity benefit as and
when due till maturity
• Simple Reversionary bonus, if any, will continue to accrue in the policy
• The accumulated Income benefits, if any, will remain accumulated in the policy

CB
GI

Guaranteed Cash
Income Bonus

Premium payment Term

The policy will terminate on payment of last Income benefit and Maturity benefit.
 FLEXIBILITIES UNDER THE PLAN

Let us see how the Plan works with the combination of Early Income option & Wealth option :
For 35 years old Male | Annual Premium `1 Lacs | Premium Payment Term 10 years | Policy Term: 65 years | Deferment Period: 0 years | Total
Premium Paida : `10 lacs | Standard Life | Sum assured on death: `11 Lacs (at inception) | Goal Protection Benefit not opted | Auto pay not
opted

Benefits Higher Income Balanced Benefits Higher Maturity

Early Income: 94% Early Income: 80% Early Income: 60%

Proportion Of Annual Premium
Wealth: 6% Wealth: 20% Wealth: 40%

Annual Guaranteed2 Income (GI) ` 15,257 ` 12,984 ` 9,738

Income 3
` 1,907 ` 1,623
Assumed from end of 1
st Cash Bonus (CB) ` 1,217
policy year till
Investment
Return
65th policy year Total (GI+CB) ` 17,164 ` 14,607 ` 10,955
@4%b
Maturity Benefit ` 11,24,926 ` 12,99,753 ` 15,49,505
Total Benefit till Maturity ` 22,40,586 ` 22,49,208 ` 22,61,580
2
Annual Guaranteed Income (GI) ` 15,257 ` 12,984 ` 9,738
Income 3
Assumed from end of 1
st Cash Bonus (CB) ` 22,885 ` 19,476 ` 14,607
policy year till
Investment
Return
th
65 policy year Total (GI+CB) ` 38,142 ` 32,460 ` 24,345
@8%b
Maturity Benefit ` 93,75,634 ` 2,08,75,725 ` 3,73,04,428
Total Benefit till Maturity ` 1,18,54,864 ` 2,29,85,625 ` 3,88,86,853

Note : aAdditional 2% discount available on 1st year premium

For above illustration, the Sum Assured on Death during 1st policy year will be `11,00,000. The Income payouts will be paid in arrears as per chosen
payout frequency | The premium mentioned above are exclusive of any extra premium loading and Goods & Service Tax/any other applicable tax levied,
subject to changes in tax laws.

b
The assumed rate of returns indicated at 4% and 8% are illustrative and not guaranteed and do not indicate the upper or lower limits of returns under the policy. The policy will
terminate on payment of last Income benefit and Maturity benefit. The above illustration is assuming the Life Assured is alive till the end of the policy term.
2
Conditions Apply - The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors.
3
Bonuses are not guaranteed and it depends on the company's performance.
 FLEXIBILITIES UNDER THE PLAN
Let us see how the Plan works with the combination of Increasing Income option, Early Income & Wealth:
For 35 years old Male | Annual Premium `2 Lacs | Premium Payment Term 12 years | Policy Term: 50 years | Deferment Period: 0 years | Income Period: 38
years | Total Premium Paida : `24 lacs | Standard Life | Sum assured on death: `22 Lacs (at inception) | Goal Protection Benefit not opted

Increasing Income Increasing + Early Increasing Income + Early

Benefits
+ Wealth Income Income + Wealth

Increasing Income: Increasing Income: 80%, Increasing Income: 35%, Early

Proportion Of Annual Premium
90%, Wealth 10% Early Income: 20% Income: 55%,Wealth: 10%

1st Income Guaranteed² Income `29,426 `7,335 `20,171

Payout5
Cash Bonus³ `88,277 `11,002 `30,256

Assumed Last Year Guaranteed² Income `1,78,950 `1,66,402 `89,763

investment Income5 Cash Bonus³ `5,36,851 `4,88,203 `2,39,031
return
@8%b Total Income (A) 5
`1,19,61,967 `1,15,31,372 `71,22,797

Maturity Benefit (B) `1,03,01,740 `50,54,333 `99,14,619

Total Benefit till Maturity (A+B) `2,22,63,707 `1,65,85,705 `1,70,37,416

Guaranteed² Income `29,426 `7,335 `20,171

1st Income
Payout5 Cash Bonus³ `1,471 `1,834 `5,043

Assumed Last Guaranteed² Income `1,78,950 `1,66,402 `89,763

investment Income
Payout5 Cash Bonus³ `8,948 `9,787 `8,523
return
@4%b Total Income5 (A) `31,40,016 `32,40,408 `24,56,601

Maturity Benefit (B) `28,89,736 `26,96,189 `28,00,124

Total Benefit till Maturity (A+B) `60,29,752 `59,36,597 `52,56,725

Note:
st
 For above illustration, the Sum Assured on Death during 1 policy year will be Rs. 22,00,000. The Income payouts will be paid in arrears as per chosen payout frequency. The premium mentioned above are
exclusive of any extra premium loading and Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws.
 The policy will terminate on payment of last Income benefit and Maturity benefit. The above illustration is assuming the Life Assured is alive till the end of the policy term.
 For Increasing Income + Early Income option the first payout will start from end of 1st policy year (no deferment chosen).
 For Increasing Income + Wealth option the first payout will start after the end of premium payment term (no deferment chosen). For Increasing Income + Early Income + Wealth option the first payout will start
from end of 1st policy year (no deferment chosen).
a st
Additional 2% discount available on 1 year premium
Additional 2.5% discount available on 1st year premium if all three variants are opted
b
The assumed rate of returns indicated at 4% and 8% are illustrative and not guaranteed and do not indicate the upper or lower limits of returns under the policy.
2
Conditions Apply - The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors.
3
Bonuses are not guaranteed and it depends on the company's performance.
5
Income Payout are inclusive of Guaranteed Income and Cash Bonus, if declared.
Increasing income in arrears at 5 % p.a. (on compounding basis) and comprises of a Guaranteed Income and cash bonuses, if declared. The incomes will be declared as a percentage of the
Benefit Sum Assured.
 FLEXIBILITIES UNDER THE PLAN

• Option to take Income Benefit in monthly instalments (for Early Income and
Increasing Income option):
The default option in the product is to take the Income benefits in annual
instalments. However, the policyholder will have an option to change the frequency
and take these benefits in monthly instalments anytime on the policy anniversary.

If the option is chosen by the policyholder, the monthly Income Benefit will be paid-
out at the end of every month, starting from the first month in the policy year that
the Income Benefit becomes due.

Monthly Guaranteed Income = [95% x Guaranteed Income Rate x Benefit Sum

Assured]/ 12
Monthly Cash Bonus = [95% * Declared Annual Cash Bonus]/ 12
The Benefit Sum Assured and GI rate used in this calculation will be that w.r.t the
Product Option under the policy.

The policyholder will have the flexibility to discontinue this option at any time.
 ELIGIBILITY CONDITIONS

Premium Min/ Max. Min/ Max.

Deferment Period
Plan Benefits Payment Term Policy Term (PT)
(DP) Age at Entry Age at Maturity
(PPT)
Limited Term: 10
to 45 years
Early Income IP = PT minus DP Whole Life: Upto
Age 85 or 100
0 to 5 years
Limited Term: Limited Term: 15 With GPB: With GPB:
10, 15, 20, 25, 30, to 45 years 18 to 55 years Upto Age 85 years
Increasing
5, 6, 7, 8, Whole Life: Whole Life: Upto
Income
9, 10, 12 till Age 85, till Age Age 85 or 100 Without GPB: Without GPB:
100 0 to 60 years Upto age 100
years
Limited Term:
10 to 45 years
Wealth NA NA Whole Life:
Upto Age 85 or
100

• All ages mentioned above are age as on last birthday.

• Risk cover (including for minor lives) will commence immediately on the date of commencement
of risk in the policy. In the case of a minor life, the policy will vest on the life assured on the earlier
of attainment of age 18 years age or maturity date.
• For female lives, 2% markup will be available on Benefit Sum Assured.
• Income Period will commence after the end of Deferment Period.
• Minimum premium: `30,000 p.a.
• Maximum premium: No limit (subject to Board approved underwriting policy)
• Minimum & maximum Sum Assured: 11 times of Annualised premium
• Benefit Sum Assured (BSA) is derived basis Age, Product option, GPB, DP, PT, PPT, Income period and
premium chosen by the Policyholder
• Benefits will vary depending upon options chosen
 SURRENDER BENEFIT UNDER THE PLAN

• You can surrender the policy at any time during the policy term provided at least
first two (2) full Policy years' regular premiums have been paid. A product option
alone in a policy cannot be surrendered.
• The surrender value payable will be the higher of the guaranteed surrender
value (GSV) or the special surrender value (SSV).
• GSV Factors will be applied on Total Premiums* received and the sum of all in-
force or paid-up Income payouts paid (as applicable), will be reduced from this
amount, to arrive at the GSV.
• For Wealth Option, additionally, GSV Factor will be applied on accrued Simple
Reversionary Bonus.
• The SSV factors for all the variants are not guaranteed, and company will revise
these factors from time to time, subject to the prior approval of IRDAI.
• The surrender benefit payable will be the sum of surrender values payable
under each benefit opted in the policy.
• The policy will terminate on the date of surrender.
 NON PAYMENT OF PREMIUM

a) If at least two (2) full years’ premiums are not paid, the policy will,
immediately & automatically, lapse at the expiry of the grace period, and no
benefit other than the Accumulated income benefit, if any, will be payable under
the policy. The Accumulated income benefit, if any, in the policy will be paid out at
the end of grace period.

b) If at least two (2) full years’ premiums have been paid and subsequent
premiums are not paid, then, the policy will be, immediately & automatically,
converted to a reduced paid-up policy at the expiry of the grace period.
(i) A reduced paid-up Policy will not be eligible for any future Cash Bonus or
Simple Reversionary Bonus. However, it will be eligible for future Paid-up GI,
and Investment Return, if there is any AIB under the Policy.
(ii) The paid-up Benefit Sum assured, the Paid-up sum assured and the paid-up
sum assured on death, are obtained by multiplying the Benefit sum assured,
the Sum Assured and the sum assured on death, respectively, by a factor
equal to the proportion of the number of premiums paid to the total number
of premiums payable under the option.
Sum Assured on Death, Guaranteed Death Benefit, Sum Assured on Maturity,
and GI will be replaced by the Paid-up Sum Assured, Paid-up Sum Assured
on Death, Paid-up Guaranteed Death Benefit, Paid-up GI and Paid-Up Sum
Assured on Maturity, respectively.
(iii) In Increasing Income, similar to GI, Paid-up GI shall also increase by 5% (on
a compound basis) every policy year.
(iv) The policyholder may revive a lapsed policy/paid-up policy subject to the
conditions mentioned in the revival clause.
 REVIVAL OF THE PLAN

You can revive your lapsed or paid-up policy, subject to the following conditions;
i) The application for revival is made within five (5) years from the due date of the first unpaid
premium, before the Maturity Date.
ii) The arrears of premiums together with interest, at such rate as the company may decide from
time to time along with applicable taxes are paid. The current applicable revival interest is 10% p.a.
compounded half- yearly.
iii) On revival, you are entitled to receive all contractual benefits.
Note:
The revival interest rate will be benchmarked to the G-Sec based on the information from Financial Benchmark India Private Ltd
(FBIL). It will be equal to [10-year G-Sec yield PLUS 2%] rounded-up to the next full interest rate. The revival interest rate will be
reviewed on an annual basis. Any change in bases used for determination of applicable interest rate will be subject to prior approval of
IRDAI.

Additional Benefit under the Plan

Riders:
You can enjoy extra coverage during the policy term by choosing the optional additional rider benefits at a
nominal extra cost. The riders available with all variants under Bajaj Allianz Life ACE are:
1. Bajaj Allianz Accidental Death Benefit Rider (UIN: 116B034V02)
2. Bajaj Allianz Accidental Permanent Total/Partial Disability Benefit Rider (UIN:116B036V02)
3. Bajaj Allianz Critical Illness Benefit Rider (UIN:116B035V02)
4. Bajaj Allianz Family Income Benefit Rider (UIN:116B037V02)
5. Bajaj Allianz Waiver of Premium Benefit Rider (UIN: 116B031V02)
Please refer to respective rider sales literature or visit Company website or consult your “Insurance
Consultant” for more details and eligibility conditions.

Alteration of premium paying frequency

You will have an option to change the Premium payment frequency under your Policy at any Policy
anniversary, subject to the availability of the frequency. The Premium payment modes available are
yearly, half yearly, quarterly and monthly.
The Premium for frequencies other than annual is given by the annual Premium multiplied with the
frequency factor. The factors are:

Premium frequency Monthly Quarterly Half-yearly Yearly

Frequency Factor (freq) 0.0875 0.26 0.51 1.00
Benefit Sum Assured = (modal premium/frequency factor) x Benefit Sum Assured rate
The quarterly and monthly mode will be allowed only under auto-debit process (as per the approved RBI
facilities).

Option to take Maturity Benefit in Installments (in all Product Options)

I) The policyholder will have an option to take Maturity Benefit in monthly or yearly installments over
a period of 5, 10, 15 or 20 years. This option can be chosen at any time before maturity.
ii) The interest rates applicable for arriving at these installments for the chosen period shall be equal
to the yields of the respective G-Sec yield less a spread of 25 basis points for installments over a
period of 5, 10, 15 and 20 years. The interest rate will be benchmarked to the G-Sec based on the
information from Financial Benchmark India Private Ltd (FBIL).
E.g., For instalment period of 5 years, 5-year G-Sec yield less a spread of 25 basis points will be
applicable.
iii) The policyholder will have the option to request for a discontinuance of the installments even after
the installments have commenced. The policyholder will be eligible to receive an amount equal to
discounted value of the future installments as on the date of such request (which would be
discounted at the same interest rate used at the time of installment calculation).

Death Benefit in Instalments (in all Product Options)

I) At the time of intimation of death of life assured, the policyholder or nominee (as applicable) will
have the option to take the death benefit in equal monthly instalments over a period of five (5) or
ten (10) years (as per his/her choice) from the date of intimation of death. The amount of monthly
instalments once started cannot be changed.
ii) The first installment shall be due on the date of intimation of death.
iii) The interest rate will be benchmarked to the G-Sec based on the information from Financial
Benchmark India Private Ltd (FBIL)). It will be equal to [10-year G-Sec yield LESS 1%] rounded-
down to the lower full interest rate.
iv) The interest rate will be reviewed on an annual basis. Any change in bases used for determination
of applicable interest rate will be subject to prior approval of IRDAI.
v) The nominee/policyholder will have the option, at any time, to request for a discontinuance of the
monthly installments even after the installments have commenced. The nominee/ policyholder
will be eligible to receive an amount equal to the present value (PV) of the remaining installments
as on the date of such request (PV would be at the same interest rate used at the time of
installment calculation).
Tax Benefits under the Plan
As per applicable tax laws as amended from time to time. You are requested to consult your tax
consultant and obtain independent advice for eligibility and before claiming any benefit under the policy.

Policy Loan
Provided the Policy has acquired Surrender Benefit, during the Policy term, you will have the option to
take Policy loan, subject to a maximum limit of [80% of the surrender value less TB on surrender (if any)
less any AIB] + 50% of TB on surrender (if any). Loan interest rate applicable for the loan will be as
decided by the company from time-to-time. The current loan rate of interest is 10% p.a. compounding
half-yearly.
On death, surrender or maturity, the outstanding policy loan plus interest, as on the date of death/
surrender /maturity, will be deducted from the death/ surrender /maturity benefit payable. Each survival
benefit will be adjusted against the outstanding loan & interest.

The policy will be foreclosed under the following circumstances:

i) For other than in-force and fully paid-up policies: If, at any time (during the policy term), the
outstanding policy loan and interest exceeds the surrender value, then, the company will inform
the policyholder for payment of interest-due and/or full/part repayment with the notice period of
30-days and, at the end of notice period, the policy will be foreclosed and any surrender value will
be adjusted towards the outstanding loan plus interest.
ii) For in-force or fully paid-up policies: The policy will not be foreclosed on the ground of outstanding
loan amount including interest exceeds the surrender value.
Note:
The loan interest rate will be benchmarked to the G-Sec based on the information from Financial Benchmark India Private Ltd (FBIL).
It will be equal to [10-year G-Sec yield PLUS 2%] rounded-up to the next full interest rate. The loan interest rate will be reviewed on an
annual basis. Any change in bases used for determination of applicable interest rate will be subject to prior approval of IRDAI.

Termination
a) This risk cover of the Life Assured shall, immediately and automatically, terminate on the earliest
occurrence of any of the following events:
i) On the date of death of the Life Assured, in case Goal protect benefit is not opted
ii) On the lapsation of the Policy
b) This Policy shall immediately and automatically terminate on the earliest occurrence of any of the
following events:
i) On Free Look Cancellation
ii) On payment of the last equal instalment w.r.t. the Death Benefit (if taken in instalments), unless
Death Benefit in a lump-sum has been taken; provided there are no other benefits available
under the Policy.
 iii) On payment of the Death Benefit in a lump-sum unless Death Benefit in instalments has been
taken; provided there are no other benefits available under the Policy.
iv) On complete surrender of the Policy and on payment of the Surrender Value.
v) On foreclosure, if at any time, in a Policy that is paid-up, the outstanding loan plus loan interest
exceeds the Surrender Value available under the Policy and no payment is made even on the
expiry of the notice sent by the company.
vi) On the expiry of the Revival Period for a lapsed Policy.
vii) On the Maturity Date.
viii) On refund of eligible Regular Premiums/ Surrender Value under suicide clause on suicide of the
Life Assured.

Grace Period
The Grace Period is thirty (30) days for frequencies other than monthly and fifteen (15) days for monthly
frequency during which the Policy is considered to be in-force with the risk cover. On the occurrence of
death during the Grace Period, the Death Benefit will be payable and the due but unpaid Premium/s upto
the date of death will be deducted from the death benefit payable.

Free Look Period

The policyholder has a free look period of fifteen (15) days from the date of receipt of the Policy
Document and a period of thirty (30) days in case of electronic Policies and Policies obtained through
distance mode, to review the terms and conditions of the Policy and where the Policyholder disagrees to
any of those terms & conditions, he has the option to return the Policy to the insurer for cancellation,
stating the reasons for his objection, then he shall be entitled to a refund of all the premiums (excluding
applicable taxes) paid, subject only to a deduction of a proportionate risk premium for the period of cover
and the expenses incurred by the insurer on medical examination of the proposer and stamp duty
charges.

Suicide Exclusions
In case of death of a Life Assured (in a single or joint life policy) due to suicide within 12 months from the
date of commencement of risk or the date of latest revival of the policy, whichever is later, then the
nominee or beneficiary of the policyholder shall be entitled to receive, the higher of 80% of the Total
Premiums* paid or the surrender value as on the date of death, provided the policy is in force.

Auto Vesting
If the policy has been taken on the life of a minor, on attaining the age of majority i.e. 18 years, the policy
will vest on him/her. Thereafter, the Life Assured shall become the policyholder who will then be entitled
to all the benefits and subject to all liabilities as per the terms and conditions of the policy.
Statutory Information
Assignment: Section 38 of the Insurance Act, 1938
Assignment should be in accordance with provisions of sec 38 of the Insurance Act 1938 as amended
from time to time.

Nomination: Section 39 of the Insurance Act, 1938

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

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 provision of this section shall be liable for a penalty that
may extend up to ten lakh rupees.

Fraud & Misstatement: Section 45 of the Insurance Act, 1938

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

Applicability of Goods & Service Tax

Goods and Service Tax is charged based on type of Policy communication address of Policyholder. This
may change subject to change in rate/state in address of the Policyholder as on date of adjustment.
Bajaj Allianz Life Insurance Co. Ltd.
Risk Factors and Warning Statements: Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz Life ACE are the names of the company and the
product respectively and do not in any way indicate the quality of the product and its future prospects or returns. For more details on risk factors, terms
and conditions please read sales brochure & policy document (available on [Link]) carefully before concluding a sale. Bajaj Allianz Life
ACE - A Non linked, Participating, Individual Life Insurance Savings Plan. Regd. Office Address: Bajaj Allianz House, Airport Road, Yerawada, Pune - 411006,
IRDAI Reg. No.: 116, CIN : U66010PN2001PLC015959, Call us on toll free No.: 1800 209 7272, Mail us : customercare@[Link], Bajaj Allianz Life
ACE (UIN:116N186V01), The Logo of Bajaj Allianz Life Insurance Co. Ltd. is provided on the basis of license given by Bajaj Finserv Ltd. to use its “Bajaj” Logo
and Allianz SE to use its “Allianz” logo. All charges/ taxes, as applicable, will be borne by the Policyholder.

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS - IRDAI is not involved in activities like selling insurance policies, announcing bonus or
investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

BJAZ-LF-EC-04966/23