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Get Guaranteed Increasing Income5
Option to Extend Life Cover beyond Policy Term
Tax Benefit u/s 80C & 10 (10D)*
Choice of 2 variants, Income benefit and Lump-sum benefit

Get Guaranteed Increasing Income5
Option to Extend Life Cover beyond Policy Term
Tax Benefit u/s 80C & 10 (10D)*
Choice of 2 variants, Income benefit and Lump-sum benefit

Overview
Plan Option
Eligibility
Disclaimer
FAQs

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Bajaj Life Guaranteed Income Goal

We all like certainty in life and when this certainty is about our Life Goals, life is simple. This certainty can be achieved with guaranteed regular income that supports our financial needs tomorrow. So we can sustain as well as achieve our Life Goals.Read More

Bajaj Life Guaranteed Income Goal is a non-linked, non-participating, life, individual, savings, regular & limited premium payment endowment plan.Read Less

FEATURES

Choice of 2 Variants depending up on your Life Goal

Get Guaranteed Increasing Income under Income Benefit

Option to extend your Life Cover beyond your Policy Term

Multiple Policy Terms & Premium Payment Terms to choose from

Choice of 5 Riders to Enhance Cover

PLAN OPTIONS/VARIANTS

Income Benefit

1. Guaranteed Maturity Benefit: On the maturity date, if all premiums are paid, your Guaranteed Maturity Benefit will be paid in yearly, half-yearly, quarterly or monthly installments. These are called as Guaranteed Maturity Instalments (GMI), and will be paid at the end of the GMI year for a period equal to your Premium Payment Term (PPT).

2. Death Benefit

Death Benefit during the Policy Term is the, Sum Assured on Death , as on the date of death. The policy will terminate on payment of the Death Benefit.
Death Benefit during the ELC Period (only if chosen) (ELC Period is after the policy term) is the Sum Assured on Death as on the date of death. The policy will terminate on payment of the Death Benefit

Lump-sum Benefit

1. Guaranteed Maturity Benefit: On the Maturity Date, if all premiums are paid, your Guaranteed Maturity Benefit payable as Lump-sum will be an enhanced percentage of your Sum Assured. This is called as Guaranteed Enhancer (GE).

2. Death Benefit

A. Death Benefit during the Policy Term is the, Sum Assured on Death , as on the date of death. The policy will terminate on payment of the Death Benefit.

B. Death Benefit during pay out period i.e. after the Policy Term is –

If ELC is chosen then the Sum Assured on Death will be paid. The risk cover will terminate immediately and the Policy will terminate on payment of last GMI.
If ELC is not chosen, then the remaining GMI will be paid. The policy will terminate on payment of last GMI

Extended Life Cover (ELC)

The amount of risk cover during the ELC Period is equal to the Sum Assured on Death
The ELC will start from the Maturity Date and will continue for an ELC Period equal to the duration of the PPT (in years), starting from the Maturity Date.
In Lump Sum Benefit, on death of the Life Assured, the Sum Assured on Death will be paid and the Policy will terminate.
In Income Benefit, on death of the Life Assured, the Sum Assured on Death will be paid, the risk cover will terminate immediately and the Policy will terminate on the payment of the last GMI.

Riders

Bajaj Life Insurance Accidental Death Benefit Rider
Bajaj Life Insurance Accidental Permanent Total/Partial Disability Benefit Rider
Bajaj Life Insurance Critical Illness Benefit Rider
Bajaj Life Insurance Family Income Benefit Rider
Bajaj Life Insurance Waiver of Premium Benefit Rider

Policy Documents

ELIGIBILITY

Eligibility

Click on Know More for Eligibility

Know More

Documentation

ID Proof –
Age Proof –
Address Proof
Photograph

Disclaimer

#Tax benefits as per prevailing Income tax laws shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.

5available with Income benefitRead More

% Sum Assured on Death is the higher of (i) 10 times Annualized Premium*, (ii) 105% of Total Premiums* paid as on date of death, (iii) Sum Assured. *Annualized Premium is exclusive of extra premium, rider premiums, loadings for modal premiums and GST/any other applicable tax levied, subject to changes in tax laws, if any, and Total Premiums paid is equal to (Annualized Premium * number of years for which premiums have been paid).Read Less

FREQUENTLY ASKED QUESTIONS

1. By how much can I extend the life cover for?

The option of Extended Life Cover (ELC) allows you to extend the life cover after the policy term. This extension will be for a period equal to the Premium Payment Term (PPT) of your policy. For example, if you purchased Bajaj Life Insurance Guaranteed Income Goal with premium paying term of 5 years and a policy term of 10 years along with the ELC option, you will get additional life cover for 5 years after policy term. You can opt for ELC only at the time of inception of this guaranteed income plan.

2. Can I buy it in the name of my minor child?

Yes, you can purchase this guaranteed income plan in the name of your minor child provided he/she is more than six years of age.

3. Can I convert from Lumpsum Benefit option to Income Benefit option and vice versa in the middle of the policy period?

You can opt for Lumpsum Benefit and Income Benefit variant only at the time of inception of the policy. It is not possible to convert from one variant to another during the policy term of this guaranteed income plan.

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