Bajaj Life Supreme - Classic

In case of unfortunate death of the Life Assured during the Policy term, provided all due premiums have been paid and policy is in force, the Death Benefit payable will be Higher of:

a. Prevailing Sum Assured, including top-up sum assured, if any

b. Fund Value as available on date of intimation of death

c. Guaranteed Death Benefit i.e.105% of Total Premiums Paid till the date of death, including top-up premium

The policy will terminate on the date of intimation of death of the life assured.

1) Guaranteed^$ Wealth Booster³

• Bajaj Life Supreme Classic has an effectively zero premium allocation charge^$ since deducted premium allocation charges accumulated at a guaranteed⁵ rate of 7% per year (compounded annually) will be added back to fund value as Guaranteed⁵ Wealth Booster³
• Premium Allocation Charges deducted during the policy term are accumulated at a guaranteed interest rate of 7% per year compounded annually.
• Sum of all accumulated Premium Allocation Charges grown at a guaranteed interest rate of 7% per year (compounded annually) will be added to your regular/single premium fund value as Guaranteed Wealth Booster at the end of the 15^th policy year.
• Guaranteed Wealth Booster will be added in the form of additional units
• Guaranteed Wealth Booster will not be applicable to premium allocation charges deducted with respect to top-up premiums

2)  Loyalty Additions²

At the end of every year from the 16^th policy year till the end of policy term, additional units will be added to your regular/single premium fund value as Loyalty Additions

• Loyalty Additions will be 0.25% of the average regular/single premium fund value of the last 3 years (including the current year)
• Loyalty Additions will not be applicable to Top-up premiums paid or Top-up Premium Fund Value

3) Return of Mortality Charge¹ (ROMC)

Life cover charges deducted during the policy term shall be added back to your regular / single premium fund value as per the table given below –

• The above addition will exclude, Top-Up Premium Fund Value, any extra mortality charge and/or any GST and cess with respect to the mortality charges deducted.
• Return of Mortality Charge will be added in the form of additional units

Disclaimer:

• The above additions will not be applicable if the policy is surrendered, discontinued or paid-up
• The above additions will be added to regular/single Premium Fund Value in the same proportion as your current fund value (as at the date of addition)

¹Return of Mortality Charges will be excluding any extra Mortality charge & or Goods & Service Tax/any other applicable tax levied on the Mortality charge deducted, subject to changes in tax laws. 100% Return of Mortality Charges (ROMC) shall be added back to the fund value at the end of 15th policy year and in every 5th policy year after that before maturity. At maturity 100% ROMC shall be paid.

²Loyalty Additions will be added into the Regular/single Premium Fund Value and will be 0.25% of the average fund value of the last 3 years (including the current year) at the end of every year starting from the 16th policy year till the end of policy term.

⁵Conditions Apply - The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors. For more details, please refer to sales brochure.

³If all premiums under the policy are paid up to date and provided the policy is in force, Amount equal to premium allocation charges deducted every year accrued at a guaranteed rate of 7% p.a. (compounding annually) will be added to the regular/single premium fund value at end of 15th policy year.

^$The term "effectively zero premium allocation charge" is used as the deducted premium allocation charges are added back to the fund value at the end of the 15th policy year, after accumulating at a growth rate of 7% per year provided the policy is in-force. This shall exclude premium allocation charges deducted for top up premiums and GST on premium allocation charges