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A Non-Linked, Non Participating, Individual Life Insurance Savings Plan

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Security: Life Cover to protect your family
Guarantee¹: All benefits in the policy are guaranteed¹
Liquidity: Income begins as early as from start of the 1st policy year
Tax Benefits²: Avail tax benefits² as per prevailing tax laws

Security: Life Cover to protect your family
Guarantee¹: All benefits in the policy are guaranteed¹
Liquidity: Income begins as early as from start of the 1st policy year
Tax Benefits²: Avail tax benefits² as per prevailing tax laws

Overview
Plan Option
Eligibility
Disclaimer
FAQs

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Bajaj Life Assured Wealth Goal Platinum

Bajaj Life Assured Wealth Goal Platinum offers the assurance of guaranteed1 liquidity along with life cover to protect your loved ones in case of any uncertainties and also plan for various life goals to meet your immediate as well as future needsRead More

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FEATURES

LIQUIDITY

Income begins as early as from start of the 1st policy year

GUARANTEE¹

All benefits in the policy are guaranteed

SECURITY

Life Cover to protect your family

TAX BENEFITS²

Avail tax benefits2 as per prevailing tax law

PLAN OPTIONS/VARIANTS

Smart Income

Pay your premiums for the chosen period
Choose the desired Sum Assured multiple that suits your preferences
Receive Early Guaranteed Payouts starting as early as from the beginning of the 1st policy year for the policy term
You will have an option to choose your Early Guaranteed Payouts start year
Regular Guaranteed Payouts are paid at the beginning of policy year during the Income Period. Income period starts after the policy term
These guaranteed payouts will be a percentage of Annualised Premium
You will also receive Enhanced Return of premium (ROP) as 110% of Total premiums paid at the end of the Income Period

Maturity Benefit:

On maturity, the Regular Guaranteed¹ payouts expressed as a percentage of Annualized Premium2 will be paid over the chosen Income Period.

Additionally, get Enhanced ROP the end of the Income Period. At any time, the policyholder will have an option to take these Regular Guaranteed1 payouts and the Enhanced ROP as a lumpsum at a discounted rate.

The Policy will terminate immediately and automatically at the end of the Income Period. There is no life cover during the Income Period. The Regular Guaranteed¹ Payouts will continue to the nominee even if the life assured dies during the Income Period.

The nominee will also have an option to receive the remaining Regular Guaranteed1 Payouts plus the Enhanced ROP as a lumpsum. The lumpsum amount shall be the present value of all outstanding future payouts at a discounted rate.

Note- If this option of taking lumpsum is exercised at the time of maturity, the interest rate applicable for calculating this shall be 9% p.a. whereas if this option is exercised post the start of Regular Guaranteed1 Payouts, the interest rate applicable to calculate the present value will be benchmarked to the G-Sec based on the information from Financial Benchmark India Private Ltd (FBIL). For Income Periods 15 and below, the interest rate applicable for calculating shall be [10-year G-sec + 1%] p.a. rounded-up to the higher full interest rate. For Income Periods 20 & above, the interest rate applicable for calculating shall be [30-year G-sec + 1%] p.a. rounded-up to the higher full interest rate. The interest rate will be reviewed on an annual basis. Any change in bases used for determination of applicable interest rate will be subject to prior approval of IRDAI.

Death Benefit: You will have life cover during the Policy Term. On Death the Sum Assured on Death plus AGP, if any shall be payable to the nominee as a lumpsum. At no time, the death benefit minus AGP, if any will be less than 105% of Total Premiums* paid as on date of death, or the prevailing surrender value, whichever is higher.

The policy will terminate immediately & automatically on the date of death. Death after Policy Term (during Income Period): The Maturity Benefits will continue to be paid, as applicable.

Regular Income

Pay your premiums for the chosen period
Choose the desired Sum Assured multiple that suits your preferences
Regular Guaranteed Payouts starting from the beginning of policy year during the Income Period. Income period starts after the policy term
These guaranteed payouts will be a percentage of Annualised Premium
You will have a choice to plan your income start year by opting for a deferment period
Depending upon the income period chosen, your policy can have an Enhanced return of premium (Enhanced ROP) equal to 110% of Total premiums paid at the end of the Income Period.

Maturity Benefit

On maturity, the Regular Guaranteed1 Payouts expressed as a percentage of Annualized Premium2 will be paid over the chosen Income Period. Additionally, depending on the income period chosen, you can get an Enhanced ROP at the end of the Income Period. At any time, the policyholder will have an option to take these Regular Guaranteed1 Payouts and the Enhanced ROP as a lumpsum at a discounted rate. The Policy will terminate immediately and automatically at the end of the Income Period. There is no life cover during the Income Period. The Regular Guaranteed1 Payouts will continue to the nominee even if the life assured dies during the Income Period. The nominee will also have an option to receive the remaining regular guaranteed1 payouts plus the Enhanced ROP as a lumpsum. The lumpsum amount shall be the present value of all outstanding future payouts at a discounted rate.

Death Benefit

You will have life cover during the Policy term. On Death, the Sum Assured on Death shall be payable to the nominee as a lumpsum. At no time, the death benefit will be less than 105% of Total Premiums* paid as on date of death, or the prevailing surrender value, whichever is higher. The policy will terminate immediately & automatically on the date of death.

Death after Policy Term (during Income Period): The Maturity Benefits will continue to be paid, as applicable.

Policy Documents

ELIGIBILITY

Eligibility

Click on Know More for Eligibility

Know More

Bajaj Allianz life guaranteed pension goal

Disclaimer

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS - IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint

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.

Sum Assured on Death is equal to Sum Assured i.e. SA Multiple X Annualized Premium²

^*Total Premiums means total of all the premiums paid under the base policy, excluding any extra premium and taxes, if collected explicitly.

²Annualized Premium shall be the premium amount payable in a year by the policyholder excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

⁴Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.Read More

Bajaj Life Insurance Ltd. (Formerly known as Bajaj Allianz Life Insurance Company Limited)

Risk Factors and Warning Statements: Bajaj Life Insurance Limited and Bajaj Life Assured Wealth Goal Platinum are the names of the company and the product respectively and do not in any way indicate the quality of the product and its future prospects or returns. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on www.bajajlifeinsurance.com) carefully before concluding a sale. Bajaj Life Assured Wealth Goal Platinum (UIN: 16N188V07) is a Non linked, Non Participating, Individual, Life Insurance Savings Plan. Regd. Office Address Bajaj Insurance House, Airport Road, Yerawada, Pune – 411006 IRDAI Reg.No.: 116 CIN : U66010PN2001PLC015959 Mail us : customercare@bajajlife.com Call on customer care number:. 020-6712 1212. The Logo of Bajaj Life Insurance Ltd. is provided on the basis of license given by Bajaj Finserv Ltd. to use its “Bajaj” Logo. All charges/ taxes, as applicable, will be borne by the Policyholder.

IDFC FIRST Bank Ltd is a Corporate Agent for Bajaj Life Insurance Limited and is registered with Insurance Regulatory and Development Authority of India bearing registration number CA0106. This Plan is offered and underwritten by Bajaj Life Insurance Limited. The purchase of an insurance plan by the customer is purely on voluntary basis.Read Less

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Bajaj Life Assured Wealth Goal Platinum