Chandigarh, August 25, 2018: Bajaj Allianz Life Insurance Company Ltd., one of India’s leading private life insurer, is working towards providing apt life insurance covers for Indians across the social spectrum. Today, the company launched a Point of Sale or POS life insurance product: Bajaj Allianz Life POS Goal Suraksha, for customers looking to achieve their life goals through low premium insurance products. Keeping the customer segment in mind, the product comes for premium as low as INR 450 per month. Thereby, providing life cover at affordable premium.
Bajaj Allianz Life POS Goal Suraksha is a simple to understand product and to make it more accessible to customers, the product is designed for quick issuance where no medicals are required for customers. Customers can meet their life goals through the product with the guaranteed benefits in this product, along with the life cover.
At the launch, Tarun Chugh, Managing Director & CEO, Bajaj Allianz Life Insurance, said, “Our progressive regulator, the IRDAI, recently outlined guidelines to enable products to be issued in a quick and easy manner. It has enabled us, significantly, to continue in our journey to provide every Indian the benefits of life insurance. We are happy to introduce this low premium product, which is simple, yet value packed. We’ve made the product easy to understand and easy to purchase, and have backed it with guaranteed returns. For those who want to purchase value-packed life insurance at low premium, this product is ideal for them.”
Other key advantages of Bajaj Allianz Life POS Goal Suraksha include, a Guaranteed Sum Assured on maturity plus Guaranteed Additions on maturity, if all premiums are paid. The product is available for a tenure of 10 years and an even shorter premium payment term of 7 years. It comes with the benefit of availing a loan, and the flexibility to alter the premium payment mode.
How Bajaj Allianz Life POS Goal Suraksha will help customers:
Subhash, a 40 year old purchases Bajaj Allianz Life POS Goal Suraksha for a premium of INR 5,000, annually. His policy term is for 10 years and he opts to pay the premium for 7 years. He pays a total premium of INR 35,000 only for this product, and has a sum assured of INR 50,000.
With the feature of Guaranteed Additions on Maturity of the product, Subhash’s total maturity benefit at the end of 10 years will be INR 50,750.
| Annualized Premium | Premium Payment
Term |
Total Premium
Paid |
Policy Term | Maturity Benefit |
| ₹ 5,000 | 7 | ₹ 35,000 | 10 | ₹ 50,750 |
