Supersaver _ Regular saving for a safer tomorrow

     Regular saving is the best tool to protect ones family. We at Bajaj Allianz Life Insurance realize the value of your saving and present a nonlinked, participating regular premium endowment plan, which will help you to save regular amounts for a safer tomorrow.

Super Saver

A Savings Insurance Plan

• Extra Protection with in-built Accidental Death Benefit

• Guaranteed Additions of amount equal to 4% of Sum Assured at the end of each policy year, provided all premiums till date have been paid

• Policy shall remain in-force for full sum assured for 2 successive years even if you forget to pay your premiums on due date.

• Tax benefits on premiums paid and benefits received under Section 80C and Death Benefit, Maturity Benefit and Surrender Value are eligible for tax benefits under Section 10(10)D.

Death Benefit:

• Sum Assured plus Guaranteed Additions plus the Vested Bonus

• In case of accidental death an additional sum assured shall be payable.

Maturity Benefit:

On survival till the end of Policy Term the Company shall be liable to pay the Sum Assured plus Vested Bonus per Section 6 plus Guaranteed Additions per Section 7.

Additional Rider Benefits:

    The following additional benefits in the form of rider can be availed at the option of the Policyholder but shall be available only to those Policyholders who have taken the Policy for a Sum Assured of Rs.50,000 or above.

• Accidental Permanent Total / Partial Disability Benefit Rider

• Family Income Benefit Rider

Loan Benefit:

Policy loan equal to 90% of the surrender value can be availed under the plan



Parameter                     Minimum                  Maximum

Annual Premium          Rs. 1,055/-                   No Limit

Sum Assured               Rs.20,000/-                 No limit

Age at entry                18 Years                       60 Years

Policy term                  10 Year                       30 Years

Payment mode:

     Annual mode only.

                                          Email: navodhayamanagementgroup@gmail.com
                                                                 Contact : 8714476620




 Bajaj Allianz Super Saver is a Traditional Life Insurance Policy.



For more details, kindly call us today on the number mentioned above.

Advantages of Life Insurance

Life Insurance provides the dual benefits of savings and security. The following benefits explain why this investment tool should be an integral part of your financial plans. Advantages of Life Insurance Risk Cover - Life today is full of uncertainties; in this scenario Life Insurance ensures that your loved ones continue to enjoy a good quality of life against any unforeseen event. Planning for life stage needs - Life Insurance not only provides for financial support in the event of untimely death but also acts as a long term investment. You can meet your goals, be it your children's education, their marriage, building your dream home or planning a relaxed retired life, according to your life stage and risk appetite. Traditional life insurance policies i.e. traditional endowment plans, offer in-built guarantees and defined maturity benefits through variety of product options such as Money Back, Guaranteed Cash Values, Guaranteed Maturity Values.   Protection against rising health expenses - Life Insurers through riders or stand alone health  insurance plans offer the benefits of protection against critical diseases and hospitalization expenses. This benefit has assumed critical importance given the increasing incidence of lifestyle diseases and escalating medical costs.   Builds the habit of thrift - Life Insurance is a long-term contract where as policyholder, you have to pay a fixed amount at a defined periodicity. This builds the habit of long-term savings. Regular savings over a long period ensures that a decent corpus is built to meet financial needs at various life stages.   Safe and profitable long-term investment - Life Insurance is a highly regulated sector. IRDA, the regulatory body, through various rules and regulations ensures that the safety of the policyholder's money is the primary responsibility of all stakeholders. Life Insurance being a long-term savings instrument, also ensures that the life insurers focus on returns over a long-term and do not take risky investment decisions for short term gains.   Assured income through annuities - Life Insurance is one of the best instruments for retirement planning. The money saved during the earning life span is utilized to provide a steady source of income during the retired phase of life.   Protection plus savings over a long term - Since traditional policies are viewed both by the distributors as well as the customers as a long term commitment; these policies help the policyholders meet the dual need of protection and long term wealth creation efficiently. Growth through dividends - Traditional policies offer an opportunity to participate in the economic growth without taking the investment risk. The investment income is distributed among the policyholders through annual announcement of dividends/bonus. Facility of loans without affecting the policy benefits - Policyholders have the option of taking loan against the policy. This helps you meet your unplanned life stage needs without adversely affecting the benefits of the policy they have bought.   Tax Benefits-Insurance plans provide attractive tax-benefits for both at the time of entry and exit under most of the plans.   Mortgage Redemption- Insurance acts as an effective tool to cover mortgages and loans taken by the policyholders so that, in case of any unforeseen event, the burden of repayment does not fall on the bereaved family.   Email : navodhayamangementgroup@gmail.com Website: www.navodhaya.in Contact No : 8714476620

Plan your tax in advance

     Tax planning is very important...... To reduce your tax liability you should invest in instruments that offer you an additional Rs. 1,00,000 tax benefit in addition to basic tax relief. Well, a life insurance policy offers you one such avenue to claimNotification to an insurance company that payment of an amount is due under the terms of the policy. tax benefits and also offers you and your family protection against any unforeseen circumstances.

 

      If you make your investments at the beginning of the year, and then take into account the tax deductible, you can easily decide your monthly and yearly expenses. It is clever to consider tax planning within the scope of your financial planning as neither one can be considered in isolation.

      Life insurance policies can be useful tax planning tools, because the policy holder is eligible for tax benefits under the Income Tax Act 1961 (Act). Though there are multiple modes for saving tax, life insurance is one of the most effective tax planning instrument. Plans from Bajaj Life Insurance can be used for protection, long term savings and tax planning. There are two kinds of income tax benefits available to individuals with respect to long term savings being made in Life Insurance policies:

• Deductions

• 80C/80CCC:
  • Benefit is available to Individual assessee and Hindu Undivided Family assessee.
    • In case of individual assessee - Himself/herself, spouse, children of such individual
    • In case of HUF assessee - any member of HUF
  • If the amount of premiumA regular payment made to the insurance company to keep the policy in force. paid in a financial year for a policy is in excess of 20% of the actual capital sum assuredThe sum assured is the minimum amount payable to the assured or his/her dependants on the death of the life assured., then deduction will be allowed only for premiums upto 20% of the sum assuredThe sum assured is the minimum amount payable to the assured or his/her dependants on the death of the life assured..
  • For insurance policies issued on or after April 01 2012, deduction is allowed for only so much of the premiumA regular payment made to the insurance company to keep the policy in force. payable as does not exceed 10% of the actual capital sum assuredThe sum assured is the minimum amount payable to the assured or his/her dependants on the death of the life assured..
  • Above benefits shall be reversed if the policy is terminated/cease to be in force within 2 years for traditional products and 5 years for ULIP products after the date of commencement of policy.
  • Sec 80CCE - Maximum amount of deduction that an assessee can claimNotification to an insurance company that payment of an amount is due under the terms of the policy. under Sections 80C, 80CCC will be limited to Rs. 100,000.
• 80D
  • Benefit is available to Individual assessee and Hindu Undivided Family assessee.
    • In case of individual assessee - Himself/herself, spouse, dependent children and parents of such individual
    • In case of HUF assessee - any member of HUF
  • The qualifying amounts under Section 80D for self, spouse and dependent children is upto Rs. 15,000/- and additional deduction upto Rs. 15,000/- for the parents. However, a higher amount of upto Rs. 20,000/- is permitted for parents, if they are senior citizens. Assessee is allowed to make any payment on account of preventive health checkups upto Rs. 5,000 within prescribed overall limit.
• 80DD: Premiums paid for disabled dependent are eligible for deduction up to Rs. 50,000 every year. A higher deduction of Rs. 75,000 shall be allowed, where such dependent is a person with severe disability.

• Exemptions
  • 10 (10D): Any sum received under a life insurance policy, including the sum allocated by way of bonusDividends paid to shareholders from funds created out of additional profits realised by the company. on such policy will be exempt from tax. However, this rule does not apply to following amounts:
    • Sum received under Section 80DD(3), or
    • A sum received under a Keyman Insurance Policy, or
    • Any sum received other than as death benefit under an insurance policy which has been issued on or after April 1 2003 and if the premiumA regular payment made to the insurance company to keep the policy in force. payable in any of the years during the term of the policy does not exceed 20% of the sum assuredThe sum assured is the minimum amount payable to the assured or his/her dependants on the death of the life assured.. For insurance policies issued on or after April 01 2012, exemption would be available for policies where the premiumA regular payment made to the insurance company to keep the policy in force. payable for any of the years during the term of the policy does not exceed 10% of the actual capital sum assuredThe sum assured is the minimum amount payable to the assured or his/her dependants on the death of the life assured..

Tax Slabs

This explains how the various tax brackets in India work and how much tax relief we are all eligible for. The new tax structure was initiated on 1^st April 2012.
The tax structure is as follows:

Tax slabs for Financial Year 2012-2013 (Assessment Year 2013-2014)
For Individuals below 60 years of age
Income Level	Tax Rate
Upto Rs. 2,00,000	Nil
Rs. 2,00,001 - Rs. 500,000	10%
Rs. 500,001 - Rs. 10,00,000	20%
Above Rs. 10,00,000	30%

Tax slabs for Financial Year 2012-2013 (Assessment Year 2013-2014)
For Senior Citizens aged 60 years or above but less than 80 years		For Very Senior Citizens aged 80 years or above
Income Level	Tax Rate	Income Level	Tax Rate
Upto Rs. 250,000	Nil	-	-
Rs. 250,001-Rs. 500,000	10%	Upto Rs. 500,000	Nil
Rs. 500,001-Rs.10,00,000	20%	Rs. 500,001-Rs.10,00,000	20%
Above Rs. 10,00,000	30%	Above Rs. 10,00,000	30%

Surcharge on Income Tax:
There is no surcharge on Income Tax for the Financial Year 2012-2013 for Individuals.

Education Cess & Secondary & Higher Education Cess on Income Tax
Education Cess @ 2% & Secondary & Higher Education cess @ 1% will be payable on the amount of income tax.

Service Tax

All premiumA regular payment made to the insurance company to keep the policy in force.s and charges are subject to applicable taxes including service tax, education cess and secondary & higher education cess as applicable under the prevailing tax laws. With effect from April 1, 2012, Service Tax Rate has been changed to 3.09% on first year premiumA regular payment made to the insurance company to keep the policy in force. and 1.545% on subsequent year premiumA regular payment made to the insurance company to keep the policy in force. for traditional endowment & annuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date. products and 12.36% for ULIP, Term, Health products & Riders.
 

Disclaimer

• The above are extracts from the Income Tax Act’1961. Please note that tax laws are subject to change and hence before placing reliance on the above, the latest version of the above section should be checked. It should also be noted that the change in tax laws could have retrospective effect also.
• This information should not be construed as expert tax, legal or investment opinion from Bajaj  Allianz Life Insurance Company Limited. Bajaj Allianz Life Insurance Company Limited would not be responsible in any manner for decisions made on the basis of above information.
• Please consult your tax advisor for claiming tax benefits on insurance products.
• Please note that the revised tax benefits and slabs presented in the Union Budget 2012 shall be applicable post Finance Bill 2012 gets passed and is enacted as law.

Website: www.navodhaya.in

Email ID: navodhayamanagementgroup@mail.com

Contact No. : 8714476620