Bajaj General Life Goal Assure Plan

2. Age of Maturity

• Minimum age of maturity is 18 years
• The maximum age of maturity is 75 years.

How Does ULIPs Work?

The combined powers of investment and insurance are abundant in Unit Linked Insurance Plans (ULIP). Market-linked returns and life insurance are provided by your ULIP. Additional fees include mortality, fund management, and policy administration fees.

• Choose a ULIP
• Make the premium payment
• Relevant fees imposed
• The premium for net investments

Reasons to Invest in Bajaj General Life Goal Assure Plan

To invest in Bajaj General Life Goal Assure Plan, here are the following reasons:

1. Return of Death Penalties

The entire amount of the mortality charge deducted throughout the policy term with regard to the regular premium and top-up premium, if any, will be added back into the Regular Premium Fund Value and the Top-up Fund Value, respectively, on the date of maturity. This enables you to achieve your life goals and obtain greater value for your investments.

2. Four Strategies for Portfolios 

To achieve your life goals, you can select one of four portfolio strategies based on your investment style.

3. Unlimited Changes of Funds

Invest in any of the various funds offered by the Investor Selectable Portfolio strategy, and you can move between them without incurring any taxes.

4. Life Insurance to Keep Your Family Safe

The nominee will receive the higher of (Sum assured or Regular Premium Fund Value) plus the higher of (Top up Sum Assured or Top up Premium Fund Value) in the event of the policyholder's death, provided that all outstanding premiums are paid. As of the date of death notification, the benefits will be paid. A minimum guaranteed reward of 105% of the total premiums paid applies to this benefit.

5. Tax Advantages

Both at the time of investment and at maturity, this plan offers tax advantages. Section 80C (life insurance) allows for the deduction of tax benefits on investments up to Rs.150,000. For ULIPs, the amount received upon partial withdrawal or maturity is free from tax under Section 10(10D) if the premium payable to the sum insured does not exceed 10%.

6. Increase Your Return on Investment

Receive Fund Boosters and Loyalty Additions for consistently making premium payments and remaining invested. 

Benefits of Bajaj General Life Goal Assure Plan

Here are the benefits of Bajaj General Life Goal Assure plan as follows:

1. Maturity Advantage

If the policy is still in effect, the Maturity Benefit under Bajaj Life Goal Assure IV will be the fund value as of the maturity date

2. Death Benefit

If all premiums are paid on time, the Death Benefit that will be paid if the Life Assured passes away during the Policy's term will be:

• The greater of the Regular Premium Fund Value plus the Prevailing Sum Assured
• Top-up Sum Assured or Top-up Premium Fund Value, whichever is higher
• Until the date of death, the Death Benefit is subject to the Guaranteed Death Benefit of 105% of the Total Premiums paid.

3. Return of Mortality Charges (ROMC)

The entire amount of mortality costs subtracted for life insurance during the policy period will be added back as ROMC to the Regular Premium Fund Value and Top-up Premium Fund Value, as applicable, on the maturity date. In the event of a surrendered, discontinued, or paid-up policy, ROMC is not relevant and will be paid all the policy's regular premiums have been paid on time.

4. Booster of Funds

Fund Booster (FB) will be added to the Regular Premium Fund Value at the conclusion of the policy term, or on the date of maturity, if all outstanding Regular/limited Premiums have been paid up to that point. 2% of the average daily Regular Premium Fund Values for the preceding three years (including the current year) will be added as Fund Booster.

• The amount of Fund Booster contributed to each fund will be equal to the fund values on the addition date. The unitization will be done using the unit price as of the Booster adding date 
• There won't be a fund booster available. The top-up premium was paid
• A policy that has been relinquished, ended, or converted to paid-up will not be eligible for a fund boost.

5. Benefit to the Family 

You will be eligible for a family benefit if any member of your family currently has a policy with Bajaj Life Insurance Limited. At maturity, you will get the benefit, which will be added to the regular premium fund value as a percentage of the average daily regular premium fund value for the preceding three years.

6. Enhancer of Return 

To further boost profits on your investments, take the death or maturity amount in installments and keep investing.

1. Adaptability to your Life's Circumstances

After the fifth insurance year, modify the terms of premium payments and reduce the sum assured in accordance with your evolving circumstances.