Bajaj Allianz Life Smart Protect Goal Term Plan

Smart Protect Goal Term Insurance

Smart Protect Goal Term Insurance

Every financial planning requires you to consider different aspects and turns of life. One such aspect being, your life’s uncertainty. When it’s about your life goals and your family’s dreams, you cannot simply rely on your savings alone. What you need is a financial back-up! This is where a term insurance plan comes into picture. This comprehensive financial back-up ensures that your loved ones continue to live the same way without worrying about financial burdens, even if something were to happen to you.

With Bajaj Allianz Life Smart Protect Goal at Finserv MARKETS, you can protect your family against any financial burden in your absence. With this plan handy, your nominee will receive a death benefit in the unfortunate event of your death. So, if your family depends on you, a term plan is a must!

Overall, Bajaj Allianz Life Smart Protect Goal is an all-around term insurance plan offering features that align with your evolving needs.

Features of Bajaj Allianz Life Smart Protect Goal Term Plan

The following are key features of the Bajaj Allianz Life Smart Protect Goal Term Insurance available on Finserv MARKETS.

  • As stated earlier, the term plan offers a death benefit which is the amount your dependents receive in case of your unfortunate death

  • The policy offers basic coverage with rider benefits. That way, the term plan can be tailored to best suit your unique requirements

  • The policy is available at competitive premium rates along with features that fulfil your insurance demands

  • With the Return of Premium feature, if selected, you receive the premiums paid towards the policy as a maturity benefit, in case you outlive the plan

  • Whole life plan offers coverage until the age of 99 years, even after paying for a limited term. However, it is essential to note that the Return of Premium feature is not available if you opt for the whole life plan.

  • Not just this! Avail add-on covers to enhance the coverage of the policy. You can opt for covers such as Critical Illness cover, Accidental Death Benefit, Accidental Total Permanent Disability Benefit, and Waiver of Premium Benefit

  • The policy offers protection against several minor and major critical ailments, if you opt for the Critical Illness cover.

Benefits of Bajaj Allianz Life Smart Protect Goal Term Insurance

  • Tax Savings

Term insurance is more than just an insurance cover. It comes with the benefit of tax savings. The premiums paid by you are exempted from tax under section 80C. Additionally, you get tax benefits through deduction under section 80D, if the Critical Illness Cover is chosen. In this way, term insurance tax benefits help you save more of your hard earned money.

  • High Coverage at Affordable Premiums

With the availability of multiple premium payment options, the Bajaj Allianz Smart Protect Goal Term Plan is affordable and easy on the pocket plan. Moreover, the benefit of availing higher death coverage at low premiums makes it an ideal plan. You can use our term insurance calculator to check your policy premium, in just a few clicks online!

  • Design Your Own Plans

Smart Protect Goal Term Plan offers you the flexibility to customize your term plan as per your requirements with multiple add-on covers available.

Why Do You Need This Plan?

Consider the following illustrations to understand the reasons to buy Bajaj Allianz Life Smart Protect Goal Term Insurance.

Illustration 1: Ms. Avanti has a home loan to repay

Ms. Avanti recently took a home loan to buy her dream house. Taking a loan is quite a major liability and a burden upon you and your family. So, if anything was to happen to Avanti, the burden of repaying the loan would fall upon her family members. A term insurance plan will take care of all such financial liabilities and free your family from the said burden, in the unfortunate event of your death. This way, Ms. Avanti could rest assured!

Illustration 2: Mr. Sekar is suffering from a life-threatening disease

Serious diseases can arise without any invitation at any point in life. Mr. Sekar, who was diagnosed with Alzheimer, has been going through some life-changing events. One of the many good things he did in his lifetime was to buy a term insurance plan well in advance along with a Critical Illness cover. A comprehensive term plan provides enhanced protection against life-threatening diseases with the help of Critical Illness cover. A term plan did just this for him.

Additional Benefits That You Can Avail

Bajaj Allianz Life Smart Protect Goal Term Plan offers some crucial term insurance benefits under add-on covers. These add-on covers include –

  • Return of Premium - As we all know; term insurance only provides death benefits. However, with the return of premium cover, you can receive the premiums paid towards the policy as maturity benefits in case you survive the policy tenure.

  • Accidental Death Benefit – If you were to die in an accident, the sum assured amount would be paid to your nominees.

  • Accidental Total Permanent Disability Benefit – In case you were to face permanent disability due to an accident, the sum assured chosen by you would be paid under this cover.

  • Critical Illness Benefit – If you are diagnosed with a covered critical illness, the sum assured chosen for critical illness benefit will be paid as a lump sum amount. In case of any minor critical illness, 25% of the benefit amount will be paid. In case of a major critical illness, 100% of the chosen benefit amount will be paid.

  • Waiver of Premium Benefit – In case you are diagnosed with a critical illness, the future premium payments towards the policy are waived off. Critical illness under this cover also includes accidental total permanent disability.

Eligibility criteria

Eligibility Criteria

  • Age at the time of buying the policy should be between 18 years to 65 years
  • Maximum Age at the time of policy maturity should be 85 years.
  • In case of whole life option, the maximum age at the time of policy maturity should be 99 years

Types of Smart Protect Goal Term Insurance Coverages

Self

Self + Spouse

Self + Child

This coverage provides life cover for the individual purchasing the policy.

The sum assured is paid to your nominee in the unfortunate event of your death during the specified policy term chosen by you.

This coverage provides life cover for you and your spouse.

With this coverage, the death benefit for both, you and your spouse are payable to your nominee.

With the self+child coverage, where the Child education cover is opted by you, you get additional coverage for your child’s education over and above the base cover amount.

This amount is paid to your nominee in case you were to die before your child turns 25.

However, if your child is over 25 years of age at the time of your unfortunate death, then he will receive only a base sum assured as a death benefit.

Why Buy Bajaj Allianz Life Smart Protect Goal Term Insurance at Finserv MARKETS?

Key reasons to buy Bajaj Allianz Smart Protect Goal Term Insurance at Finserv MARKETS–

Comprehensive Coverage

With a life insurance cover of up to Rs. 50 Crore, you can ensure complete financial security of your family, even in your absence.

Easy on Pocket

Affordable premiums with high sum assured amounts to keep you prepared for more, to achieve your life goals.

Tailor-made Insurance Plans

Customized term insurance plans that suit all the needs of the policyholder.

Trusted Companion

With a customer base of 100+ million across the country, Finserv MARKETS is the right choice for you. It’s time you choose us as your financial partner.

Reliable Insurance Partner

With a high claim settlement ratio, Bajaj Allianz promises to settle your claim instantly and hence, is a trusted insurance partner.

How to Apply for Smart Protect Goal Term Insurance

Buy Bajaj Allianz Life Smart Protect Goal Term Insurance at Finserv MARKETS with these six simple steps –

  • Design your Plan

  • Make Payment

  • Fill Form

  • Upload Documents

  • Medical Examination

  • Policy Issued

  • Process
  • Download
  • Exclusions
  • Cashless Claims

  • Register your claim online
  • Upload the necessary documents to proceed further.

  • Your claim shall be assessed by Bajaj Allianz Life Insurance.

  • After complete assessment, the final claim decision shall be made.

  • Brochure

Link to redirect customers to links category.

  • Smart Protect Goal Term Plan - Self
  • Smart Protect Goal Term Plan - Self + Spouse
  • Smart Protect Goal Term Plan - Self + Child
  • Smart Protect Goal Term Plan - Increasing Life Cover
  • Suicide:
  • Accidental Death Benefit:
  • Accidental Total Permanent Disability:
  • Critical Illness:

If the life assured commits suicide, whether sane or insane, within 12 months from the date of commencement of risk or the date of latest revival of the policy, the policy shall be terminated by paying to the nominee an amount which is 80% of the premium paid as on the date of death, provided the policy is in-force as on the date of death.

No benefit will be payable in respect of any condition arising directly or indirectly from, through or in consequence of the following exclusions:

  • Injury occurred before the Date of Commencement of Risk. This exclusion means for the insured to be eligible for this benefit the injury/accident leading to death should happen during the policy period
  • Suicide or attempted suicide or intentional self-inflicted injury, by the life insured, whether sane or not at that time.
  • Life assured being under the influence of drugs, alcohol, narcotics or psychotropic substance, not prescribed by a Registered Medical Practitioner
  • War, invasion, hostilities (whether war is declared or not), civil war, rebellion, terrorist activity, revolution or taking part in a riot or civil commotion, strike or industrial action.
  • Participation by the life assured in a criminal or unlawful act or committing any breach of law with criminal intent including involvement in any fight or affray.
  • Treatment for injury or illness caused by avocations/ activities such as hunting, mountaineering, steeplechasing, professional sports, racing of any kind, scuba diving, aerial sports, activities such as hand-gliding, ballooning, deliberate exposure to exceptional danger.
  • Any underwater or subterranean operation or activity. Racing of any kind other than on foot
  • Existence of any sexually Transmitted Disease (STD) and its related complications or Acquired Immune Deficiency Syndrome (AIDS) or the presence of any Human Immunodeficiency Virus (HIV).
  • Services in any military, air force, naval, police, paramilitary or similar organization including service in the armed forces in time of declared or undeclared war or while under orders for warlike operations or restoration of public order,
  • Participation by the insured person in any flying activity other than as a bona fide passenger (whether paying or not), in a licensed aircraft provided the life insured does not, at the time, have any duty on board such aircraft. Crew members and pilots for passenger carrying commercial flights are excluded under this exclusion unless they are bonafide passengers.
  • Physical handicap or mental infirmity
  • Unreasonable failure to seek medical advice, , the Life assured has delayed medical treatment in order to circumvent the waiting period or other conditions and restriction applying to this Policy.
  • Nuclear reaction, Radioactive or chemical contamination due to nuclear accidents.

No benefits shall be payable as ATPD benefit for any disease or losses caused or aggravated directly or indirectly, wholly or partly by any one of the following:

  • Any medical condition which first manifests itself within 90 days of the Date of Commencement of Risk or date of latest revival, if any.
  • Any Pre existing diseases. Pre-Existing is defined as condition for which the Life Assured had signs, or symptoms, and/or were diagnosed, and / or received medical advice / treatment within 48 months to prior to the Date of Commencement of Risk or date of latest revival (if any), whichever is later.
  • Any congenital disorder, or illness related to congenital disorder or complication arising out of congenital disorder.
  • Suicide or attempted suicide or intentional self-inflicted injury, by the life insured, whether sane or not at that time.
  • Life assured being under the influence of drugs, alcohol, narcotics or psychotropic substance, not prescribed by a Registered Medical Practitioner
  • War, invasion, hostilities (whether war is declared or not), civil war, rebellion, terrorist activity, revolution or taking part in a riot or civil commotion, strike or industrial action.
  • Participation by the life assured in a criminal or unlawful act or committing any breach of law with criminal intent including involvement in any fight or affray.
  • Treatment for injury or illness caused by avocations/ activities such as hunting, mountaineering, steeplechasing, professional sports, racing of any kind, scuba diving, aerial sports, activities such as hand-gliding, ballooning, deliberate exposure to exceptional danger.
  • Any underwater or subterranean operation or activity. Racing of any kind other than on foot
  • Existence of any sexually Transmitted Disease (STD) and its related complications or Acquired Immune Deficiency Syndrome (AIDS) or the presence of any Human Immunodeficiency Virus (HIV).
  • Services in any military, air force, naval, police, paramilitary or similar organization including service in the armed forces in time of declared or undeclared war or while under orders for warlike operations or restoration of public order,
  • Participation by the insured person in any flying activity other than as a bona-fide passenger (whether paying or not), in a licensed aircraft provided the life insured does not, at the time, have any duty on board such aircraft. Crew members and pilot for passenger carrying commercial flight are excluded under this exclusion unless they are bonafide passengers
  • Physical handicap or mental infirmity
  • Unreasonable failure to seek medical advice, the Life assured has delayed medical treatment in order to circumvent the waiting period or other conditions and restrictions applying to this Policy.
  • Nuclear reaction, Radioactive or chemical contamination due to nuclear accidents.

Apart from the disease specific exclusions given along with definitions of diseases (refer ‘Definition’), no benefit will be payable if the CI is caused or aggravated directly or indirectly by any of the following:

  • Any of the listed CI conditions which first manifests itself within 90 days of the Date of Commencement of Risk or date of latest revival (if any), whichever is later.
  • Pre existing diseases or conditions connected to a Pre-Existing Condition will be excluded. Pre-Existing is defined as condition for which the Life Assured had signs, or symptoms, and/or were diagnosed, and / or received medical advice / treatment within 48 months to prior to the Date of Commencement of Risk or date of latest revival (if any), whichever is later.
  • Any congenital condition
  • Suicide or attempted suicide or intentional self-inflicted injury, by the life insured, whether sane or not at that time.
  • Life assured being under the influence of drugs, alcohol, narcotics or psychotropic substance, not prescribed by a Registered Medical Practitioner
  • War, invasion, hostilities (whether war is declared or not), civil war, rebellion, terrorist activity, revolution or taking part in a riot or civil commotion, strikes or industrial action.
  • Participation by the Life Assured in a criminal or unlawful act or committing any breach of law with criminal intent including involvement in any fight or affray.
  • Treatment for injury or illness caused by avocations/ activities such as hunting, mountaineering, steeplechasing, professional sports, racing of any kind, scuba diving, aerial sports, activities such as hand-gliding, ballooning, deliberate exposure to exceptional danger.
  • Any underwater or subterranean operation or activity. Racing of any kind other than on foot.
  • Existence of any sexually Transmitted Disease (STD) and its related complications or Acquired Immune Deficiency Syndrome (AIDS) or the presence of any Human Immunodeficiency Virus (HIV).
  • Participation by the Life Assured in any flying activity other than as a bona-fide fare-paying passenger, in a licensed aircraft. Crew members and pilots for passenger carrying commercial flights are excluded under this exclusion unless they are bonafide passengers.
  • Unreasonable failure to seek or follow medical advice, the Life Assured has delayed medical treatment in order to circumvent the waiting period or other conditions and restriction applying to this Policy.
  • Nuclear reaction, Biological, radioactive or chemical contamination due to nuclear accidents.
  • Ayurvedic, Homeopathy, Unani, naturopathy, reflexology, acupuncture, bone-setting, herbalist treatment, hypnotism, rolfing, massage therapy, aroma therapy or any other treatments other than Allopathy/ western medicines.
  • Any treatment of a donor for the replacement of an organ

In case you are looking for a Group Term Plan, you can consider Group Term Life Insurance available on Finserv MARKETS.

FAQs on Smart Protect Goal Term Insurance

  • ✔️What type of plan is the Bajaj Allianz Life Smart Protect Goal?

    Bajaj Allianz Life Smart Protect Goal is a term plan that provides financial protection for your future goals from life’s uncertainties. There are four variants available under the Smart Protect Goal Term Plan which include • Life Cover – Under this variant your nominee gets a sum assured amount on the unfortunate event of your death. • Life Cover with Child Education Extra Cover (CEEC) - Under this variant if chosen, your children get an extra protection of 10-100% over and above the base cover, for his educational expense in case of your death. • Life Cover with Joint Life - This variant allows you to add your spouse in the same policy • Increasing Life Cover – Under this variant, you can choose to increase your life cover at every policy anniversary.

  • ✔️What is the meaning of Life Cover in Smart Protect Goal?

    Life Cover is the sum assured amount that your nominee receives in the unfortunate event of your death.

  • ✔️What major and minor critical illnesses are covered under Smart Protect Goal?

    Bajaj Allianz Life Smart Protect Goal covers 19 minor and 36 major critical ailments. Some of these include cancer, heart diseases, Alzheimer’s disease, Parkinson’s disease, blindness, and more.

  • ✔️Does Bajaj Allianz Life Smart Protect Goal offer maturity benefits?

    A few main reasons for claim rejections are as follows: • Submitting false information during claim registration • In case you forget to pay the premiums on times and the policy lapses • In case the event is not covered under the policy for which the claim is made • If the name of the beneficiary is not updated in the policy

  • ✔️What are the reasons behind claim rejection in Smart Protect Goal Term Insurance?

    A few main reasons for claim rejections are as follows: • Submitting false information during claim registration • In case you forget to pay the premiums on times and the policy lapses • In case the event is not covered under the policy for which the claim is made • If the name of the beneficiary is not updated in the policy

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