Download Brochure - Bajaj Allianz

Death BenefitIn case of a single life policy: The death benefit will be sum assured plus fund value, subject to minimumguaranteed death benefit, as on date of receipt of intimation of death at the Company's office.In case of a joint life policy where your spouse is also covered under your policy: The death benefit will beas follows subject to the minimum guaranteed death benefit in the following paragraph:Death Benefit payable on the death of the primary life assured: If death of the primary life assured occurs first, the death benefit will be the sum assured with respect tothe primary life assured. Thereafter the policy will vest on the life of the spouse. If death of the primary life assured occurs after the death of the spouse, the death benefit will be the sumassured with respect to the primary life assured plus the fund value as on date of receipt of intimation ofdeath at the Company's office.Death Benefit payable on the death of the spouse: If death of the spouse occurs first, the death benefit will be the sum assured with respect to the spouse. If death of the spouse occurs after the death of the primary life assured, the death benefit will be the sumassured with respect to the spouse plus the fund value as on date of receipt of intimation of death at theCompany's office.Minimum Guaranteed Death Benefit Death before attaining age 60 years: In case of death of any life assured before attaining age of 60 years,the minimum guaranteed death benefit will be equal to 105% of regular premiums paid plus any top uppremiums paid till date; reduced by the value of the units withdrawn through partial withdrawals fromregular premium fund value and top up premium fund value in the 24 months prior to the date of death. Death on or after attaining age 60 years: In case of death of any life assured on or after attaining age 60years, the minimum guaranteed death benefit will be equal to 105% of regular premiums paid plus anytop up premiums paid till date; reduced by the value of the units withdrawn through partial withdrawalsfrom regular premium fund value and top up premium fund value during the 24 months prior to attainingage 60 and all subsequent partial withdrawals on or after attaining age 60.If the death of the primary life assured and/or the spouse is due to an accident and the age at the time ofdeath is 7 years & above, an additional benefit equal to the regular premium sum assured of the primary lifeassured and/or spouse shall also be paid.