Bajaj Allianz Life Goal Assure Plan

1. For a policy term of 5 years, the premium payment term is also 5 years.
2. For a policy term of 10 years, the premium payment term can be 5, 7, or 10 years.
3. For a policy term of 15 years, the premium payment term can be 10 or 15 years.
4. For a policy term of 20 years, the premium payment term can be 15 or 20 years.

Minimum Premium Payable For Bajaj Allianz Life Goal Assure Plan

1. If the chosen premium payment mode is yearly, the minimum premium payable will be Rs.36,000.
2. If premium is paid on a half-yearly basis, the minimum premium payable will be Rs.18,000.
3. If premium is paid on a quarterly basis, the minimum premium payable will be Rs.9,000.
4. If premium is paid on a monthly basis, the minimum premium payable will be Rs.3,000.
5. The min. amount payable as top-up premium is Rs.5,000.
6. The option of making premium payments on a monthly or quarterly basis will be allowed only in case of auto-debit.

Sum assured - Bajaj Allianz Life Goal Assure Plan

Minimum sum assured

1. If policyholder is under 45 years of age, the min. sum assured which they will be entitled to shall be an amount which is the greater of either 10x of the Annualised Premium, or 0.5 x policy term x Annualised Premium.
2. If the policyholder is greater than or equal to 45 years of age, they will be entitled to a minimum sum assured amount which is the higher of 0.25 x policy term x Annualised Premium, or 10x of the Annualised Premium

Maximum sum assured

1. In case Annualised Premium is between Rs.36,000 and Rs.4,99,999, following is the max. sum assured payable.

1. In case of Annualised Premium is equal or more than Rs.5 lakh, the following max. sum assured will be payable.

1. In case of top-up premium, the following sum assured will be payable.

Key Advantages of Bajaj Allianz Life Goal Assure Plan

1. Return Of Mortality Charges (ROMC) -

One of the unique advantages of investing in this plan is the ROMC feature which helps policyholder get added value from their investments. Under this, the total amount of mortality charges (regular premium as well as top-up premiums) which have been deducted from the policy throughout its tenure will be returned on the date of policy maturity. The Mortality Charges will be added to the Regular Premium Fund Value and the Top-up Fund Value.

1. Choice of 4 Portfolio Strategies -

To accomplish their life goals, Bajaj Allianz life insurance policyholders can choose from 4 types of portfolio strategies at the time of plan inception. These 4 strategies are Investor Selectable Portfolio Strategy, Wheel of Life Portfolio Strategy, Trigger-based Portfolio Strategy, and Auto transfer Portfolio Strategy.

1. Choice of 8 funds -

Under the first portfolio strategy i.e. Investor Selectable Portfolio Strategy, policyholders can choose from 8 different funds to invest in, depending on their risk appetite. These include Equity Growth Fund II, Accelerator Mid-Cap Fund II, Pure Stock Fund, Asset Allocation Fund II, Bluechip Equity Fund, Bond fund, and Liquid Fund.

1. Unlimited Fund Switches -

Policyholders who have opted for the Investor Selectable Portfolio strategy not only have 8 different funds to choose from to invest in, but can also switch between these funds without any restrictions or by incurring any tax liability.

1. Greater flexibility -

The uniqueness of this plan is enhanced by the degree of flexibility it offers to the policyholder. under this plan, you can not only decrease your sum assured amount, but also alter your premium payment term as per your convenience.

1. Fund Booster -

Policies with a term of 10 years and above will be eligible to receive Fund Boosters once the policy matures.

1. Loyalty Additions -

From the 6th policy year onwards, the insurer will allot Loyalty Additions to the Regular Premium fund Value.

1. Life Cover -

Besides all the aforementioned advantages which this plan offers, it provides, first and foremost, efficient life cover. If the policyholder passes away suddenly, their nominee will be entitled to the death benefit, provided all due premiums have been paid.

1. Tax Benefits -

Like several other life insurance plans, the Goal Assure Plan also offers tax benefits not only upon plan maturity but also at the start of the investment. Policyholders can claim tax deduction up to Rs.1,50,000 for premiums paid towards the plan, under provisions of Section 80C. The maturity benefit and funds received following a partial withdrawal will also be tax exempt under Section 10(10D), subject to conditions.

Benefits Offered - Bajaj Allianz Life Goal Assure Plan

Maturity Benefit

Once the plan reaches maturity, the maturity benefit payable shall be equal to the Regular Premium Fund Value + Top-up Premium Fund Value on the date of plan maturity.

Death Benefit

The death benefit will be payable if the policyholder passes away suddenly, and all due policy premiums have been paid. The death benefit that will be paid out shall be equal to (greater of Regular Premium Fund Value OR Regular Premium Sum Assured) + (greater of Top-up Premium Fund Value OR Top-up Sum Assured). The death benefit payable will not be less than 105% of the total premiums paid towards the policy till the date of death.

Features of Bajaj Allianz Life Goal Assure Plan