Bajaj Allianz Life Goal Assure Policy - Features and Benefits 

Based on the life goals you have set for yourself, you must be clear about the investment plan to achieve the same. However, none of this is possible without financial planning. This is where the Bajaj Allianz Life Goal Assure comes into play - a ULIP enabling you to plan major financial expenses in your life, keeping your life goals in mind.

How does it work?

When opting for the Bajaj Allianz Life Goal Assure plan, it is vital to note that the premium amount you pay regularly is further re-invested in a range of funds, based on your chosen portfolio strategy at the time of buying the plan. The units opted for are then allocated to you as per the current unit price of the fund in question.

Reasons to buy this plan

If you are tinkering with the idea of investing in the Bajaj Allianz Life Goal Assure plan and have still not made up your mind, here are some reasons why buying this plan is a good option:

• Small Investments for Big Goals:

To realise your financial goals, planning for them is an essential step in the right direction. By investing in Bajaj Allianz Life Goal Assure, you stand a chance to earn greater ULIP returns for each purpose you've chalked out.

• Pay off Debts:

By investing in the Bajaj Allianz Life Goal Assure plan, you can utilise the return on your investment to clear off any debts/financial obligations you may owe.

• Early Retirement Planning:

It is essential to start planning for your retirement as soon as you start earning, and by investing a fixed amount every month, you will be able to create a secure cache of funds meant for your golden years. Investing in the same through Bajaj Allianz Goal Assure will help you achieve your retirement goals and avail of ULIP related tax benefits under Section 80C of the Income Tax Act.

• Plan for your future:

This investment avenue helps you set aside adequate funds for both planned and unplanned expenses you may incur along the journey of life. Hence, the sooner you invest in such a plan, the better.

Key Features

Some of the important features of Bajaj Allianz Life Goal Assure are:

• Partial Withdrawals:

In a Bajaj Allianz Life Goal Assure plan, after the 5th year of the policy, you are allowed to make partial withdrawals, subject to specific terms and conditions.

• Appropriation of Premium:

As per the rules of this policy, you as a policyholder have the right to choose where exactly your premium will be invested based on your risk-taking ability.

• Switching of Funds:

In a Bajaj Allianz Life Goal Assure policy, you are allowed to switch the units invested from one fund to another, with no restriction on the number of switches during the term of the policy.

• Portfolio Strategy Switching:

During the policy term, you can change the portfolio strategy as per your needs.

• Change in Frequency of Premium Payment:

Over the term period, you as a policyholder are allowed to change the frequency of premium payments as per your financial liabilities and requirements.

• Change in the Term of Premium Payment:

After the 5th year of the policy period, you can change the premium payment term, subject to certain conditions.

• Premium Top-up:

During the last five years of the policy period, you can make additional lump-sum payments of at least Rs. 5000 as a premium top-up.

• Lock-in Period:

As per the terms and conditions, you are not allowed to make withdrawals (partial or complete) during the first five years of the policy period.

• Tax Benefits:

The premium paid, as well as the returns on Bajaj Allianz Life Goal Assure policy, are eligible for tax benefits.

• Revival of Lapsed Policies:

From the date of lapsing, the policy can be revived within a period of two years.

Benefits

• Maturity Benefit:

On maturity of the plan, the benefit payable amounts to the ‘Top-up Premium Fund Value + the Regular Premium Fund Value’, as on the maturity date.

• Death Benefit:

but have paid all premiums, then the benefit payable amounts to (greater of) Regular Premium Fund Value or Regular Premium Sum Assured + (greater of) Top-up Premium Fund Value or the Top-up Sum Assured.

Inclusions

• Accidental Death Benefit Rider:

In the case of an unexpected death, your nominees are eligible to claim an assured additional sum within 180 days of the accident.

• Accidental Permanent Total/Partial Disability Benefit Rider:

You are eligible to claim an assured additional sum in case of disability suffered due to an accident.

• Critical Illness Benefit Rider:

You can claim an assured sum if diagnosed with any of the 11 critical illnesses listed.

• Family Income Benefit Rider:

In case of disability due to an accident, you can claim this additional sum routinely.

• Waiver of Premium Benefit Rider:

In case of death, permanent disablement, or a life-threatening disease, this waives off your premium for good.

Exclusions

• In the unfortunate event of loss of life owing to suicide, in the first year of the policy commencement or revival, your elected nominee shall receive the regular premium fund value + top-up premium fund value.

Claim Process

The claim process for a Bajaj Allianz Goal Assure plan is as follows:

• Visit the website - https://www.bajajfinservmarkets.in/

• Click on the ULIP tab.

• Fill in your login credentials and ULIP details.

• Submit details of your claim and wait for the SMS verification.

Conclusion

Financial planning for the future can be tricky often requiring immense research and careful analysis. However, by investing in policies like Bajaj Allianz Life Goal Assure, you can achieve your financial targets and secure a sound financial future for yourself and your loved ones.

Other ULIP Plans Available At Finserv MARKETS