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Bajaj Allianz Goal Assure ULIP

Each one of us has a series of goals in our life’s journey. From receiving your first salary to getting married, from having your first child to buying your dream home, your life goals continue to expand. These experiences add an essence to your life and make it more memorable. And, with the human tendency to protect what we value the most, these life goals must be protected.

You can’t afford to go wrong when it comes to planning for your life goals. Imagine falling short of funds and finances when it comes to fulfilling your child’s education or saving for your own retirement!

With the Bajaj Allianz Life Goal Assure ULIP plan, you can rest assured! It is a life goal-based Unit Linked Insurance Plan that offers you the opportunity to plan for the most valuable lifetime experiences without any worries.

Why Invest in Bajaj Allianz Goal Assure ULIP?

  • Achieve Big Goals With Small Investments

    Now owning your dream bungalow, traveling around the world with your partner or sending your kids abroad for higher education, all could be a reality. All you need to do is start planning for them today! Breakdown your bigger savings into smaller investments today, and earn higher ULIP returns for the same goal, with the Bajaj Allianz Life Goal Assure!

  • Paying Off Debts Is Not Easy!

    With increasing expenses and growing inflation burning a hole in the common man’s wallet, taking loans has become very common. The process of borrowing proves to be a major roadblock on the paths of success and achieving future goals. Here, small investments done at regular intervals can be a helping hand for you while you repay your debts and clear your financial liabilities. Now you wouldn’t have to compromise on your future and lifestyle due to unavoidable debts.

  • Plan Your Retirement Early!

    When it comes to planning for your retirement, the earlier you start, the better it is. Having a stable financial support while you live the second innings of life is highly crucial. Having said that, it’s quite difficult to plan for a time that is nearly 30 years ahead and for an undefined period of time. But we’ve all got to start somewhere. A small amount every month and every year will really go a long way in helping you build up your retirement nest egg. You also save more with ULIP tax benefits under section 80C of the Income Tax Act. The Bajaj Allianz Goal Assure plan is all you need.

  • Give Wings To Your Dreams

    It’s never too late to pursue your passion. If you’d like to learn how to play an instrument or take up a hobby, investing a little time every day makes far more sense than trying to learn everything all at once over a weekend. By investing in ULIP plans and setting time aside for yourself every day, you’ll be able to achieve more and follow your dreams.

Features of Bajaj Allianz Life Goal Assure Plan

  • Partial withdrawals

    You can make partial withdrawals after the 5th policy year, subject to conditions.

  • Premium apportionment

    Under the Investor Selectable Portfolio Strategy, you can choose to invest completely in any one fund or allocate your Regular Premium and Top-up Premium into the different funds in a proportion that suits your risk appetite.

  • Top-up Premium

    Except for the last 5 policy years, you can make additional lump sum investments in the policy by paying Top-up Premiums over and above the Regular Premiums payable.

  • Termination of Policy

    The policy will terminate on the occurrence of any of the following events: • Foreclosure of policy • Intimation about the death of the life insured • Payment of Surrender Benefit or Discontinuance Value • On the maturity date, except if you have chosen the Settlement Option • Expiry of Settlement Period, if applicable • Cancellation of the policy during the Free look period

Key Advantages of Bajaj Allianz Goal Assure ULIP

Fund Booster at Maturity (for a policy term of 10 years or greater)

The fund booster on maturity, helps you grow your money without making any further investments. Fund booster is a loyalty reward that you receive for paying premiums regularly.

 

4 Investment Portfolio Strategies to Choose From

When making an investment, you may want to manage your investments by yourself. With a choice of 4 different investment portfolio strategies, you can plan your investments at the very initial stage. These four strategies include Investor Selectable Portfolio Strategy, Wheel of Life Portfolio Strategy, Trigger-Based Portfolio Strategy, and Auto Transfer Portfolio Strategy. You can manage your money by investing it according to your risk appetite and watch your money grow.

 

8 Funds to choose from

With an Investor Selectable Portfolio, you can choose from 8 different funds for investing. The funds you decide to invest will depend on your risk appetite. These fund choices include: Equity Growth Fund II, Accelerator Mid-Cap Fund II, Pure Stock Fund, Pure Stock Fund II, Asset Allocation Fund II, BlueChip Equity Fund, Bond Fund, and Liquid Fund

 

Unlimited Fund Switching Facility

Those who opt for Investor Selectable Portfolio Strategy can switch between the seven funds without having to pay any additional charges or incurring tax liabilities.

 

Switching of Portfolio Strategy

You are also allowed to change your portfolio strategy at any policy anniversary.

 

Flexibility

One of the most beneficial things of Bajaj Allianz Goal Assure ULIP is that the policy is flexible. This means you can decrease your sum assured amount and alter your Bajaj Allianz Life Goal Assure premium payment terms as per your convenience.

 

Loyalty Additions

Sixth policy term onward, you will be allotted loyalty additions by the insurer.

 

Life Insurance Cover

Besides the investment component, the policy provides a life insurance cover. So, in case of your sudden death, your family members will receive the death benefit along with the returns earned from your investment portfolio.

Benefits of Bajaj Allianz Goal Assure ULIP

●  Death Benefit

If the policyholder happens to die the date of maturity the death benefit is paid to his/her nominee. The death benefit includes Regular Premium Sum Assured or regular premium fund value plus, whichever is higher. This also includes, top-up sum assured or top-up premium fund value, if any, whichever is higher.

●  Maturity Benefit

Maturity benefit is the survival advantage you enjoy at the end of the policy term. On survival, if all the premiums are paid till maturity, you receive the Fund value including Loyalty Additions, Fund Boosters, Sum of all Mortality charges deducted throughout the policy term.

●  Tax Benefits

With this plan, you can reduce your taxable income by investing up to ₹ 1.5 Lakhs under Section 80C, according to the Income Tax Act, 1961. The premiums paid by you, maturity benefit, death benefit and surrender benefit are eligible for tax benefits as per Income Tax Act, 1961. Goal Assure ULIP also offers a tax-free maturity amount under Section 10(10D) of the Income Tax Act 1961.

Eligibility Criteria for Bajaj Allianz Goal Assure ULIP

The following table gives an overview of the eligibility criteria for Bajaj Allianz Goal Assure ULIP.

Eligibility Criteria for Bajaj Allianz Goal Assure ULIP

Entry Age

●     Minimum Entry Age: 0 years

●     Maximum Entry Age: 60 years old

Maturity Age

75 years old

Policy Term

5 years, 7 years, 15 years, and 20 years

Premium Payment Term (PPT)

●     For 5-year policy term: 5 years

●     For 10-year policy term: 5,7, or 10 years

●     For 15-year policy term: 10 or 15 years

●     For 20-year policy term: 15 or 20 years

Minimum Premium (Modal Premium & Top-Up)

●     Annually: ₹ 36,000

●     Half-Yearly: ₹ 18,000

●     Quarterly: ₹ 9000

●     Monthly: ₹ 3000

●     Top-Up: ₹ 5000

Note: The Quarterly & Monthly Premium payment facility will be available under auto-debit options as approved by RBI.

Premium Payment Facility

Annually, Half-yearly, quarterly, and monthly

Sum Assured in Bajaj Allianz Goal Assure ULIP

Below we have discussed the minimum and maximum sum assured you or your beneficiaries will receive.

Minimum Sum Assured

Minimum Sum Assured

If you are under 45 years of age

Amount greater of –

0.5 X Policy Term X Annualised premium
OR
10x of the Annualised Premium

 

If you are of age 45 years or older

Amount greater of–

0.25 x Policy Term x Annualised Premium
OR
10x of the Annualised Premium

Maximum Sum Assured

The maximum sum assured is calculated as follows:

Maximum sum assured = A x Annualised Premium

Wherein A is the age at entry and policy term as mentioned in the table below.

In case the Annualised Premium is between ₹ 36,000 and ₹ 4.99 Lakh

Policy Term

Age at Entry

If you are under 45 years of age

If you are of age 45 years or older

Between 5 years and 10 years

10

10

Between 15 years and 20 years

15

10

In case the Annualised Premium is ₹ 5 Lakh and above

Policy Term

Age at Entry

If you are under 45 years of age

If you are of age 45 years or older

Between 5 years and 10 years

10

10

Between 15 years and 20 years

20

10

  • Download
  • Goal Assure ULIP Plan Brochure

How Does Bajaj Allianz Goal Assure ULIP Work?

In Bajaj Allianz Life Goal Assure, the premium paid by you is invested across the various funds applicable as per your chosen portfolio strategy. The units are allocated at the prevailing Unit Price of the fund.

 

Let’s understand with an example how the Goal Assure ULIP helps you save for your future goals

 

Alok is a 35-year-old man and has taken a Bajaj Allianz Life Goal Assure policy for a goal to buy his dream house. For this, he is investing ₹ 10,000 per month for a payment term of 10 years with a sum assured of ₹ 12 Lakh. This brings his total investment to ₹ 18,00,000. On maturity, Alok would get returns of ₹ 37,83,930, which he would then utilize for making the down payment of his dream house.

 

Riders Offered Under Bajaj Allianz Goal Assure ULIP

As stated earlier, the insurer allows you to enhance the scope of the policy with rider benefits. Below we have enlisted the riders available under Bajaj Allianz Goal Assure ULIP.

 

  • Accidental Death Benefit Rider: With this rider, you can avail an additional sum assured in the event of your unfortunate death due to an accident.
  • Accidental Permanent Total/Partial Disability Benefit Rider: It provides an additional sum assured if you face disablement (permanent or partial) due to an accident.
  • Critical Illness Benefit Rider: Here, you get an additional sum assured when first diagnosed with any of the listed 11 critical illnesses.
  • Family Income Benefit Rider:  t provides an additional sum assured if you face permanent or partial disability due to an accident.
  • Waiver of Premium Benefit Rider: This rider offers a waiver of all the future premiums in the event of your death, permanent disablement, or contraction of any life-threatening disease.

Exclusions of Bajaj Allianz Goal Assure ULIP

Much like any insurance plan, Bajaj Allianz Goal Assure ULIP has a few limitations. They are as follows –

 

  • If the cause of your (the policyholder’s) death is due to suicide and it happens in the first years from policy commencement or revival, then your nominees will only receive the regular premium fund value + top-up premium fund value (if any).
  • Any amount deducted after your death is repaid to your beneficiaries along with the death benefit amount.

Investment Strategies for Goal Assure ULIP Plan

  • Investor Selectable Portfolio Strategy
  • Wheel of Life Portfolio Strategy
  • Trigger Based Portfolio Strategy
  • Auto Transfer Portfolio Strategy

To reap ULIP benefits, as a policyholder you can allocate the premiums based on your personal choice among the 8 given funds, as per your risk appetite and investment needs. For more details please refer to the policy brochure. 

Financial needs and goals change as life progresses. Therefore, having an investment strategy that can be realigned to such changes is essential. The wheel of life investment strategy allows you (the policyholder) to allocate premiums among 5 funds in a pre-defined ratio. This ratio changes as the policy ages towards maturity. 

As a policyholder, you can opt for this strategy only at the commencement of the ULIP plan. This strategy is not only helpful in securing the gains but also helps in the maintenance of asset allocation. At a ratio of 75:25, your premiums get allocated in Equity Growth Fund II and Bond Fund and this ratio gets re-balanced/re-allocated based on a pre-defined trigger event. The trigger event is defined as 15% upward movement in NAV (unit price) of Equity Growth Fund II since the previous rebalancing or from the NAV (unit price) at the inception of the policy, whichever is later. For more details please refer to the policy brochure.

As a policyholder, this strategy allows you to invest your money in a systematic way over the years, by transferring the money automatically from a low risk fund(s) to a fund of your choice. The switching proportion depends upon the number of outstanding months, till the next premium due date of your Bajaj Allianz ULIP. However, this strategy won’t be available to you if you’ve opted for a monthly premium payment mode. For more details please refer to the policy brochure.

List of documents required

The documents required to purchase the Bajaj Allianz Life Goal Assure Plan are:

 

  • Recent Photograph

  • Proof of Identity

  • Proof of Age

  • Proof of Address

How to buy this plan online?

You can but the Bajaj Allianz Life Goal Assure Plan online by following these simple steps:

 

  1. Visit the insurance provider’s official website, like Finserv MARKETS.

  2. Navigate to the ULIP section.

  3. Get your premiums details based on your personal information and investment preferences.

  4. Pay your insurance premium and get the insurance proposal form.

Why Bajaj Allianz Goal Assure from Finserv MARKETS?

Bajaj Allianz Goal Assure

Other ULIP Plans Available At Finserv MARKETS

Bajaj Allianz Goal Assure

Bajaj Allianz Life Long Life Goal

Manage all your Goal Assure related queries here

  • ✔️What is Return Enhancer benefit under Settlement option in Goal Assure Plan?

    In the case of ULIPs, you get the option to take maturity in instalments with Return Enhancer. The amount paid out to you in each instalment will be the outstanding Fund Value as at that instalment date divided by the number of outstanding instalments is hiked up by 0.5%. Therefore, each instalment is equal to [Fund Value / No. of Outstanding Instalment] * 1.005, where the hike-up is called Return Enhancer.

  • ✔️Can one switch the investment fund after investing in a ULIP policy?

    Yes. Goal Assure by Bajaj Allianz Life comes with a “SWITCH” option that allows you to shift the investments in a policy from one fund to another, provided the feature is available in the product. A fee is charged for switches made beyond a specified number depending on the insurer, while the specified number of switches are generally free of cost.

  • ✔️What is settlement option under ULIP Policy?

    In Bajaj Allianz Goal Assure Policy, instead of taking a lump sum amount at maturity, some plans provide you with an option to receive the maturity benefits as a structured payout (periodic instalments) over a period of 5 years after maturity. This is known as the Settlement Option.
  • ✔️What is the amount that I receive at the end of policy term?

    The benefit you will receive at the end of policy term is called Maturity Benefit which will be equal to the Fund Value at the time of maturity.
  • What is a Fund Value and how it is calculated?

    Fund Value is the total value of your premiums that are invested in various funds of your choice. It can be calculated by using the following formula, Fund Value = Total Number of units under a policy x Net Asset Value

ULIP (Unit Linked Insurance Plan) Reviews

ULIP (Unit Linked Insurance Plan) Reviews

3.8out of 5

7 reviews

Best for Achieving Life Goals

I’ve started investing in Bajaj Allianz Goal Assure ULIP to meet my goal of purchasing my dream house. I hope that the returns will help me achieve my goal. The best part is I can avail tax benefits on this investment

Planning Retirement was Never this Easy

Life after retirement can be difficult, especially if you don’t have a strong financial backup. Keeping this in mind, I’ve made investment in Bajaj Goal Assure ULIP. By making small investments, I will be able to lead a comfortable life post retirement.

Fast Application Process and Efficient Customer Service

The application process for Bajaj Goal Assure ULIP was simple. Also, the customer service was proactive and helped me with all my queries. A big thank you to Finserv MARKETS.

I could manage my child's education expenses easily

With Bajaj Allianz Goal Assure, I could save up for my child's education and manage her daily expenses. Finserv MARKETS enabled me to get the plan through a quick and simple process.

Bajaj Goal Assure is a great product!

With ULIP plans available on Finserv MARKETS, saving for my higher education was no more a challenge. I started my saving journey with this product and it has been of great help.

My dream house is not too far!

The Bajaj Allianz Goal Assure was a perfect investment plan for the most important goal of my life, my dream house. With the high returns that I would yield through this ULIP, I shall pay my home loan down-payment. Cannot wait for to get my dream house. Thanks, Finserv MARKETS.

I can now invest for expanding my store

I own a stationary store and was gathering funds for buying a new photocopy machine. With Bajaj Allianz Goal Assure, I can rest assured that this process will be easy. The investment plan helped me plan the expansion of my business without worrying about funds.