Jana Vikas Yojana of Bajaj Allianz Life Insurance is a single premium policy that has been designed to offer life insurance coverage at a nominal cost. Here the insured would be getting a guaranteed life cover along with a maturity payment of 125 per cent of single premium. This policy is a non linked and non participating single premium insurance plan.
'''Some of the features and benefits of Jana Vikas Yojana of Bajaj Allianz Life Insurance are as follows:'''
* The minimum term of this policy is ten years and the maximum term is fifteen years.
* The minimum sum that is to be assured in this policy is rupees ten thousand and the maximum sum is rupees fifty thousand.
* Death and maturity benefit are also offered in this policy to the members of the group. In death benefit the sum that has been assured is payable after the death of the policy holder during the policy term. The maturity benefit is availed at 125 per cent of the single premium that is to be payable on survival till the end of the policy tenure.
* Tax benefits are availed in this policy by the group members of the insured as per section 80C and section 10(10D) of the Indian income tax act 1961.
* Free look period is also offered here that allows the insured members to review the policy for a specific period of time which is fifteen days. After that if they are not satisfied with the norms of the policy then they can return the policy within that day. The sum that has been as premium for this policy would be refunded to them.
* Here the loan facility is not available in this policy.
These are some of features and benefits of Jana Vikas Yojana of Bajaj Allianz Life Insurance. For more information about this policy, people are requested to have a visit at their nearby branch office of Bajaj Allianz Life Insurance.