Bajaj Allianz Life Goal Suraksha
Bajaj Allianz Life Goal Suraksha
(Bajaj Allianz Life Goal Suraksha is A Non Linked, Non Participating, Individual, Life Insurance Savings Plan)
Key Features:
Guaranteed1 Maturity Benefit
Offers Guaranteed1 Additions at Maturity
Limited Premium Payment Term
Option to take policy loan
Option to alter premium payment mode
1Conditions Apply – The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors. For more details, please refer to sales brochure (also available on the Website of Bajaj Allianz Life insurance company Ltd.)
Maturity Benefit:
On the maturity date, if all premiums are paid, the Guaranteed1 Sum Assured on Maturity# plus Guaranteed1 Additions, under your policy, will be paid and the policy will terminate.
Guaranteed1 Additions
On maturity date, if all due premiums have been paid, Guaranteed¹ Additions as a multiple of one Annualized Premium3 will be paid along with the maturity benefit. Guaranteed¹ additions will not be payable in case of a lapsed or paid-up policy.
Death Benefit
In case of unfortunate death of the Life Assured due to accident during the waiting period$ or in case of death of the Life Assured after the waiting period$ due to any cause, the death benefit is payable to the nominee(s)/beneficiaries. Such death benefit is stated as Sum Assured on Death which is as below.
The Sum Assured on Death is the higher of:
(i) Sum Assured Multiple x Annualized Premium3, (ii) Sum Assured4
In case of death of the Life Assured during the Waiting period$ other than due to an accident, the death benefit payable to the nominee(s)/beneficiaries will be the 100% of Total Premiums2 paid till date, excluding any extra premium & Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws.
At no time the Death Benefit will be less than Guaranteed¹ Death Benefit of 105% of the Total Premiums paid2 up to the date of death. The policy will terminate on payment of the death benefit. The policy will terminate on payment of the death benefit.
The death benefit is payable provided the policy is in-force and all due premiums have been paid.
SA multiple allowed under the product are
Age (in years) | SA Multiple |
0-49 | 7 or 10 |
50-55 | 5 or 10 |
Low Cover Mark-up
At the inception of the policy, if you opt for a sum assured multiple of 7 / 5 times the Annualized Premium3, you shall receive a “Low Cover Mark-up” wherein you will be able to enjoy additional Guaranteed¹ Additions resulting into a higher Maturity Benefit. For details on “Low Cover Mark-up” factors kindly visit Bajaj Allianz Life Insurance website.
3“Annualized Premium” shall be the premium amount payable in a year chosen by the policyholder excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any. | 2 “Total Premium paid” means total of all the premiums paid under the base product, excluding any extra premium and taxes, if collected explicitly | # “Guaranteed Sum Assured on Maturity” is (110% x Premium Payment Term) times the Annualized Premium. | 4“Sum Assured (SA)” is SA multiple X the Annualized Premium. | $” Waiting period” is the first 90 days from the date of commencement of risk. Waiting period is not applicable in case of revival.
