Bajaj Allianz Life Retire Rich offers you a Guaranteed Death Benefit (GDB) of 105% of the total premiums paid including the amount of any top up premium paid till the date of death. The Mortality charge is deducted for providing this benefit of GDB and is calculated on the sum at risk. The sum at risk is the difference between the Fund Value and GDB amount as on the due date of mortality charge.
For Instance, on the premium amount of ` 15,000, considering only one premium is paid, the fund value is ` 13,500, and for this same policy, GDB is ` 15,750 (105% of ` 15,000). Hence the sum at risk is ` 2,250 (` 15,750 - ` 13,500), and mortality charge will be calculated on this sum at risk amount. However, no mortality charge is deducted if the Fund Value becomes equal to or higher than GDB anytime during the policy.