Download Brochure - Bajaj Allianz

ForeclosureIf, after five (5) policy years, the regular premium fund value becomes insufficient to deduct one month'scharges under the policy, then, the policy shall be foreclosed and the surrender value, if any, as on date of suchforeclosure will be paid immediately.RevivalThe discontinued policy can be revived subject to following: The company receives the request for revival by you within two (2) years from the date of discontinuanceof the policy but before the fifth (5th) policy anniversary, i.e., before the expiry of the lock-in period All the due but unpaid regular premiums are paid and Such information and documentation as may be requested by the company is submitted by you at yourown expense. The Company may disallow the revival of the policy on the original policy terms and conditions.On revival of the discontinued policy, the discontinuance value of the policy together with the amount ofdiscontinuance charge (without any interest) as deducted by the company on the date of discontinuance ofthe policy, shall be split into regular premium fund value and the top up premium fund value ,if any, in thesame proportion as existed on the date of discontinuance and will be allocated across the various Funds attheir prevailing unit price again in the same proportion as it existed on the date of discontinuance.Days of GraceA grace period of 15 days is available for monthly frequency and 30 days for other frequencies.Termination ConditionsThis Policy shall automatically terminate on the earlier occurrence of either of the following events: The units in the policy are fully surrendered; Upon death of the life assured in case of single life policy; Upon second death in case of joint life policy; Upon maturity or at the end of the settlement period if opted so. Upon payment of discontinuance value; On foreclosure.