Group Employee Benefit Plan - Bajaj Allianz

Group Employee Benefit PlanBajaj AllianzGroup EmployeeBenefit PlanA Unit-Linked Group Insurance Plan“IN THIS POLICY, THE INVESTMENT RISK ININVESTMENT PORTFOLIO IS BORNE BY THEPOLICYHOLDER”Bajaj Allianz Group Employee Benefit Plan“A complete Employee Benefit Solution”Our Group Employee Benefit Plan allows you to offer benefitsto your employees as part of your statutory or employeewelfare requirements. Your financial obligations towards suchrequirements increase with increase in number of employees,their pay scales and tenure of employment.Our Plan helps you to make provisions to meet your obligationsby helping you to set and manage your funds for gratuity andleave encashment benefits of your employeesPresenting…Bajaj Allianz Group Employee Benefit Plan, a nonparticipating,unit linked, fund based multi – featured planwhich gives you – ‘A Complete Employee Benefit Solution’

Group Employee Benefit PlanKey Benefits of Bajaj Allianz Group Employee Benefit Plan• Gives you an opportunity to set up a separate fund for gratuity and leave encashment benefit• You have a choice of 9 funds to select from to suit your investment needs• Option to choose the frequency of making the contributions.• Unlimited free switches to manage your investments.Working of the Plan• The plan is for Employer-Employee Group only• A pooled unit fund will be created for your fund as per the scheme rules.• The contributions paid to fund the scheme shall be invested in the investment fund/s as chosen by youand units will be allocated to the pooled unit fund at the prevailing unit price of the respective investmentfund/s• Employee’s benefits shall be paid, as defined in the scheme rules, by cancelling the units from the pooledunit fund• Non-zero positive additions, if any, will be added to the pooled unit fund in order to meet the maximumreduction in yield criteria [as stipulated in Sub-regulation 37 of IRDA (Linked Insurance Products)Regulations, 2013] at the end of each policy year starting from the fifth policy year.How to set up the Scheme?Three easy steps to set up a fund under Bajaj Allianz Group Employee Benefit Plan:• Draft a scheme rules and/or trust deed as applicable for administration of the scheme. Bajaj Allianzprovides you with guidance on the same.• Apply for securing approval of Commissioner of Income Tax under Part C of the Fourth Schedule of theIncome Tax 1961, if applicable.• Pay the required contribution along with Master Proposal Form, employee data, scheme rules and/ortrust deed as applicableYou can also transfer your self-managed fund(s) or an on-going scheme to us under this plan based on preagreedterms and conditions.

Group Employee Benefit PlanEligibility Criteria under the PlanParametersMinimum & Maximum Age at EntryMaximum Age at MaturityEligibility CriteriaMinimum: 15 yearsMaximum: 79 years80 years or up to retirement agePooled Unit Fund Size Minimum: ` 100,000Maximum: No LimitSum Assured Minimum: ` 1,000Maximum: No LimitPolicy TermOne year renewableSize of the Group at inceptionMinimum: 10 members*Maximum: No Limit*In your existing policy, even if the group size fallsbelow 10 due to any exits, it will be continued.Contribution FrequencyYearly, Half-Yearly, Quarterly and MonthlyBenefits under the PlanDeath Benefit: Sum assured plus an amount as decided by you in accordance with the scheme rules shallbe paid by cancellation of unit from the pooled unit fund. The sum assured on death shall be payable by thecompany and not from the pooled unit fund.Other than Death Benefit: Benefit(s) as stated in the scheme rules will be paid by cancellation of units fromthe pooled unit fund. The company’s liability for such benefit(s) payable shall be limited to the extent of thefund value in the pooled unit fund.Surrender BenefitYou can surrender the policy at any time and the surrender value shall be equal to the pooled unit fund valuesubject to applicable surrender charge, if any. The policy will terminate thereafter.

Group Employee Benefit PlanFunds and Investment OptionsThis plan offers you the option of the following funds, and any one or more of the funds may be selected bythe policyholder to invest. All the Funds will be managed Bajaj Allianz Life Insurance Company.FundNameGroupEquity FundGroupBluechipFundGroupAssetAllocationFund - IIStable GainFundSecureGain FundGroup DebtFund IIGroupShort TermDebt FundIIIInvestment ObjectiveTo provide capitalappreciation throughinvestment in equity shares.To provide capitalappreciation throughinvestment in equitiesforming part of NSE IFTY.To realize a level of totalincome, including currentincome and capitalappreciation, which isconsistent with reasonableinvestment riskTo provide moderate returnskeeping risk levels moderateTo provide stable returnswith low risk to loss ofprinciple.To provide stable returnsthrough investment invarious fixed incomesecuritiesTo earn moderate returns byinvesting in medium tenorfixed income securitiesRisk Asset AllocationProfileVery High Equity and equity related securities –60%-100%Debt and debt related securities incl. Fixeddeposits – 0% - 40%Cash/ Money Market Instruments** /MutualFunds* – 0 % - 40%High Equity and equity related securities –60%-100%Debt and debt related securities incl. Fixeddeposits - 0% - 40%Cash /Money Market instruments** and Mutualfunds* – 0% - 40%High Equity and equity related securities – 20%-100%Debt and debt related instruments 0% - 80%Money Market instruments**/ Mutual Funds* – 0% - 80%Moderate Equity and equity related securities – 0%-35%Debt and debt related securities incl. Fixeddeposits -65% - 100%Cash, Money market instruments**, Mutualfunds*: 65% - 100%Moderate Equity and equity related securities – 0%-20%Debt and debt related securities incl. Fixeddeposits - 80% - 100%Cash, Money market instruments**, Mutualfunds*: 80% - 100%Low Debt and debt related securities incl. Fixeddeposits – 40% - 100%Cash, Mutual funds* : 40% - 100%Money market instruments**:0% - 60%Low Debt and debt related securities incl. Fixeddeposits - 40% -100%Cash, Mutual funds* : 40% - 100%Money market instruments** : 0% - 60%SFINULGF01018/04/11GREQTYFUND116ULGF01118/04/11GRBLUECHIP116ULGF01710/05/13GRASSALLC2116ULGF00115/09/04STABLEFUND116ULGF00215/10/04SECUREFUND116ULGF01924/06/13GRDEBTFU02116ULGF02024/06/13GRSHTRDE03116

Group Employee Benefit PlanFundNameGroupLiquid FundIIGroupBalancedGain FundInvestment ObjectiveTo provide stable returnsthrough investment invarious fixed deposits,money market Instrumentsand short term debtinstruments.To provide capitalappreciation withreasonable risk by investingin a suitable mix of debt andequitiesRiskProfileVery LowAsset AllocationDebt and Debt related Securities incl. Fixeddeposits -0%-60%Cash, Mutual funds*: 0% - 60%Money market instruments** - 40% - 100%High Equity and equity related securities: 0%-60%Debt and debt related instruments – 40%-100%Mutual funds* and Money market instruments**:40%-100%SFINULGF02124/06/13GRLIQUFU02116ULGF01810/05/13GRBALCEDGA116* The maximum investment in mutual funds shall be governed by the relevant IRDA guidelinesComputation of NAVThe NAV of the Fund shall be computed as the market value of investment held by the fund plus value ofcurrent assets less value of current liabilities and provisions, if any. This calculation will be done beforecreation/redemption of units.Unit Price of each fund is arrived at by dividing the Net Asset Value (NAV) of the fund by the number of unitsexisting in the fund at the valuation date.All requests received for any unit transaction till the cut-off time of a day shall be processed at the unit price ofthe same day. The requests received after the cut-off time of a day shall be processed at the unit price of thenext day. The request for unit transaction can be premium payment/surrender / death claim. Currently thecut-off time is 3.00pm for applicability of unit price for a particular day.Valuation Date: We aim to value the funds on each day the financial markets are open. However, we mayvalue the funds less frequently in extreme circumstances, where the values of assets are too uncertain. Insuch circumstances, we may defer the valuation of assets for up to 30 days until we feel that certainty as tothe value of assets is resumed. The deferment of valuation of assets will be with prior consultation with theIRDA.

Group Employee Benefit PlanFlexibility – to manage your investmentsSwitching OptionoooYou have the flexibility to manage your investments by switching between funds by your perception ofchanging economic conditions. We allow unlimited free switches from one fund to the other.The minimum switching amount is ` 5000 or the value of units in the fund to be switched from, whicheveris lower.The company shall effect the switch by redeeming units from the fund to be switched from and allocatingnew units in the fund being switched to at their respective unit price.Non-ForfeitureIf regular contribution from you in any year is not received by the Company as the fund is certified to beoverfunded/in-surplus by your actuary* as per AS15 (Revised), then, such contracts shall not be treated asdiscontinued contracts and the pooled unit fund will participate in the opted fund performance subject todeduction of all applicable charges. As long as there is sufficient balance in the pooled unit fund to coverall the charges due, the company shall renew the policy at every policy anniversary, and, also, subject to thebalance in the pooled unit account not being below ` 1,10,000; in which case, the company will intimateyou to pay the contribution. If the pooled unit fund falls below `100,000, then, the policy shall be foreclosedand the surrender value as on date of such foreclosure will be paid immediately to you and the policy will beterminated.The policy will be renewed yearly as long as there is sufficient balance to cover the charges and provided theminimum fund value is maintained.* It is advised that you get a valuation by an independent actuary on a yearly basis to assess the funding of thescheme.Termination of the schemeThe scheme will automatically terminate on:• Upon foreclosure of the Policy• Upon surrender of the Policy

Group Employee Benefit PlanChargesPremium Allocation Charge* 2.0% of the contribution subject to maximum of ` 100,000 as andwhen the contribution is paid.Surrender Charge Month of Surrender Surrender Charge(as a percentage of fund value)1– 35 months Minimum of (0.05% of fund valueor `500,000 )36 and above NilPartial withdrawal charge No partial withdrawal charge is applicableFund Management Charge(FMC)Switching ChargeMiscellaneous ChargeMortality ChargesService Tax on charges* This charge would be aligned to the commission payableFund NameCharge p.a.Group Equity Fund 1.35%Group BlueChip Fund 1.35%Group Asset Allocation Fund – II 1.25%Stable Gain Fund 1.20%Secure Gain Fund 1.20%Group Balanced Gain Fund 1.20%Group Debt Fund II 1.00%Group Short Term Debt Fund III 0.90%Group Liquid Fund II 0.70%This charge would be adjusted in unit priceUnlimited free switchesThe charge of ` 100 would be applicable in case the company isrequested to issue a duplicate policy document due to loss of originalpolicy document.• Mortality charge would vary according to the attained age of themembers, sum assured and nature of the group and deducted ateach monthly anniversary through cancellation of units.• The mortality charge is guaranteed for the entire term of thescheme.• The mortality charge is applied on the sum at risk, which is thesum assuredAll charges will be subject to applicable service tax.

Group Employee Benefit PlanRevision of chargesAfter taking due approval from the Insurance Regulatory and Development Authority, the Company reservesthe right to revise the above-mentioned charges excluding Mortality Charge and Premium AllocationCharge.• Fund Management Charge up to a maximum of 1.35% per annum• Miscellaneous charge up to a maximum of ` 200/-The Company will give a notice of three months to the policyholders for any changes in charges. Thepolicyholders who do not agree with the modified charges shall be allowed to withdraw the units in the planat the then prevailing unit price and terminate the policy.Sample Illustration*AgeMaturityAgePolicyTermPremiumPayingTermPremiump.a.Sum AssuredFund Valueat maturity@ 4%Fund Valueat maturity@ 8%30 40 10 10 200,000 20,000 2,287,488 2,856,38230 45 15 15 500,000 50,000 9,237,013 12,907,96930 50 20 20 1,000,000 100,000 26,566,728 41,836,595* This is an indicative projection on basis of prescribed growth rate by the regulator. The above projection isbased on 100% investment in 'Group debt Fund II' after consideration of service tax and cess.LoansNo loans are available under the scheme.Suicide ClauseNo Suicide exclusion is applicable. On death of an employee due to suicide, the full death benefit as statedunder the death benefit section shall be payable.

Group Employee Benefit PlanNominationThe company will pay the policy proceeds to the member’s nominee through you. The individual employeescan nominate the person(s) to whom the policy proceeds will be payable by you upon their death. A change innomination may be made by the policyholder at any time during the term of the policy and must be registeredwith the Company. Nomination is effected as per section 39 of the Insurance Act, 1938.”Grace PeriodA grace period of 15 days is available for monthly frequency and 30 days for other frequencies.Tax BenefitsAs per applicable Tax LawsFree Look PeriodWithin 15 days [thirty (30) days in case this policy is issued under the provisions of IRDA Guidelines on DistanceMarketing* of Insurance Products] from the date of receipt of the policy, you have the option to review theterms and conditions and return the policy, if you disagree to any of the terms & conditions, stating the reasonsfor your objections. You will be entitled to a refund of the contribution paid, subject only to a deduction ofproportionate mortality charge for the period of cover and the expenses incurred by the company on medicalexamination of the members and the applicable stamp duty charges.* Distance Marketing includes every activity of solicitation (including lead generation) and sale of insuranceproducts through modes other than in person.Risks of Investment in the Units of the PlanThe Policyholder should be aware that the investment in the Units is subject to the following, amongst otherrisks and agrees that he/she is making the investment in the Units with full knowledge of the same.1) Unit Linked Life Insurance products are different from the traditional insurance products and are subjectto the risk factors.2) The premium paid in unit linked life insurance policies are subject to investment risks associated withcapital markets and the Unit Price of the units may go up or down based on the performance of the fundand factors influencing the capital market and policyholder is responsible for his/her decisions.

Group Employee Benefit Plan3) Bajaj Allianz Life Insurance is only the name of the insurance company and Bajaj Allianz Group EmployeeBenefit Plan is only the name of the plan and does not in any way indicate the quality of the policy, itsfuture prospects or returns.4) Please know the associated risks and the applicable charges from your policy document or by consultingthe Company, your Insurance agent or your Insurance Intermediary.5) The investments in the Units are subject to market and other risks and there can be no assurance that theobjectives of the fund will be achieved.6) The past performance of other funds of the company is not necessarily indicative of the future performanceof any of these funds.Prohibition of Rebate: Section 41 of the Insurance Act, 1938No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to takeout or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, anyrebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, norshall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as maybe allowed in accordance with the published prospectuses or tables of the insurer.Any person making default in complying with the provision of this section shall be punishable with a fine thatmay extend to five hundred rupees.Fraud & Misrepresentation: Section 45 of the Insurance Act, 1938No Policy of life insurance effected after the coming into force of this Act shall, after the expiry of two yearsfrom the date on which it was effected, be called in question by an insurer on the ground that a statementmade in the proposal for insurance or in any report of a medical officer, or referee, or friend of the insured,or in any other document leading to the issue of the policy, was inaccurate or false, unless the insurer showsthat such statement was on a material matter or suppressed facts which it was material to disclose and that itwas fraudulently made by the policy-holder and that the policy holder knew at the time of making it that thestatement was false or that it suppressed facts which it was material to disclose.Why Bajaj Allianz Life Insurance?Bajaj Allianz is a joint venture between Bajaj Finserv Limited and Allianz SE. Both enjoy a reputation of expertise,stability and strength. This joint venture company incorporates global expertise with local experience. Thecomprehensive, innovative solutions combine the technical expertise and experience of the 123 years oldAllianz SE, and in-depth market knowledge and goodwill of “Bajaj brand” in India. Competitive pricing andquick honest response have earned the company the customer's trust and market leadership in a very shorttime.

Group Employee Benefit PlanDisclaimerBajaj Allianz Group Employee Benefit Plan is fund based Group Unit Linked Insurance Plan (ULIP). Investmentin ULIPs is subject to risks associated with the capital markets. The policyholder is solely responsible for his/her decisions while investing in ULIPs. Bajaj Allianz Life Insurance and Bajaj Allianz Group Employee BenefitPlan are the names of the company and the product respectively and do not in any way indicate the quality ofthe product and its future prospects or returns. All Charges applicable shall be levied. The policy document isthe conclusive evidence of contract and provides in details all the conditions and exclusions related to BajajAllianz Group Employee Benefit Plan.This sales literature should be read in conjunction with the Benefit Illustration. Please ask for the same alongwith the quotationContact DetailsBajaj Allianz Life Insurance Company Limited, G.E Plaza, Airport Road, Yerawada, Pune - 411006, Reg.No.: 116.,Fax: (020) 6602 6789, Visit: www.bajajallianz.com, BALIC CIN : U66010PN2001PLC015959For any queries please contact:BSNL/MTNL(Toll Free)Any Mobile & Landline(Toll Free)1800 233 7272 1800 209 5858Mail us : customercare@bajajallianz.co.inChat: bajajallianzlife.co.in/chatBEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERSIRDA clarifies to public that -• IRDA or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.• IRDA does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along withdetails of phone call, number.For More Information: Kindly consult our “Insurance Consultant” or call us today on the TOLL FREE numbers mentioned above.This brochure should be read in conjunction with the Benefit Illustration and Policy Exclusions. Please ask for the same along withthe quotation.Bajaj Allianz Group Employee Benefit PlanUIN 116L104V02Bajaj Allianz Group Employee Benefit Plan is a Unit-Linked Insurance PlanInsurance is the subject matter of solicitation.BJAZ-PB-0416/3-Sep-14