A purchase protection plan secures your purchased items from any accidental damage or loss suffered, helping you recover the financial loss. Purchase Protection Cover offered by Bajaj Finserv provides coverage of up to Rs. 1.5 lakh at a cost-effective price.
Just so, can I get loan against ULIP policy?
In case of ULIPs, loan against insurance is usually offered up to 70%–75% of the paid up value. In traditional policies, it can go up to 85%–90%.
Also, how can I cancel my Bajaj Finance Policy?
The company may cancel this insurance by giving the policyholder at least 15 days’ written notice, and if no claim has been made, then the company shall refund a pro-rata premium for the unexpired policy period.
What is Bajaj Suraksha Loan?
Bajaj Allianz Life Group Sampoorna Suraksha Kavach is a life, non-participating single, limited and regular premium payment group micro pure risk premium insurance plan. … You will be the master policyholder. • Your customers who would get coverage under this policy will be the members.
Loans against insurance policies can only be availed in case one pledges specific traditional policies like money back and endowment policies. The amount sanctioned for the loans is usually 85% to 90% of the policies surrender value. …
Bajaj Allianz Life POS Goal Suraksha is a non-linked, life, individual, non-participating, limited premium payment, non-medical,POS. endowment savings plan. The key advantages of this plan are: Guaranteed maturity benefit.
Definition: It is the amount the policyholder will get from the life insurance company if he decides to exit the policy before maturity. … A regular premium policy acquires surrender value after the policyholder has paid the premiums continuously for three years.
Surrender value is the sum/ amount payable to the insurer when deciding to stop the policy and embody the same from LIC. The value is payable only after three full years of premiums are paid to LIC. The policyholder can opt to surrender his policy anytime he wants to.
|Maximum Premium||Premium Payment Frequency|
|Minimum Sum Assured||Rs 30,000|
|Maximum sum assured||Rs 10,00,000|
|Premium Payment Frequency||Yearly, Half-yearly, Quarterly and Monthly|
*Waiting period is the first 90 days from the date of commencement of risk. The waiting period is not applicable in case of revival. **Total premiums paid is equal to (annualized premium X number of years for which premiums have been paid).