Bajaj Life Guaranteed Savings Goal Plan

Eligibility Criteria for the Bajaj Life Guaranteed Savings Goal Plan

Features of Bajaj Life Guaranteed Savings Goal Plan

The plan provides several features designed to support long-term financial planning and protection. Here are the key features of the plan:

• Single Premium Structure: The entire premium is paid once at the beginning of the policy, eliminating the need for recurring payments.
• Guaranteed Maturity Benefit: At maturity, the policyholder receives the total premium paid, enhanced by a guaranteed percentage known as the Guaranteed Enhancer.
• Life Insurance Protection: The plan provides financial protection for the family through a death benefit during the policy term. Bajaj Life Investment Plans offer flexible options that help individuals invest according to their financial goals and risk tolerance.
• Simple Savings Plan Design: As a non-linked plan, the benefits are not affected by market fluctuations.
• Loan Facility: Policyholders can avail loans against the policy once it acquires surrender value.

Benefits of the Bajaj Life Guaranteed Savings Goal Plan

Below are the benefits available under this insurance plan:

• Death Benefit: In case of the death of the life assured within the policy term, the nominee will get the amount assured on death as long as the policy is in operation.
  The amount of the death benefit is normally the maximum of the following:
  • Sum Assured or Enhanced Sum Assured
  • Guaranteed Maturity Benefit.

  The policy will end when the death benefit is paid.

• Guaranteed Maturity Benefit: In case the life assured survives to the maturity date, the policyholder is paid the guaranteed amount of maturity, which is computed as:
• Total Premium Paid x Guaranteed Enhancer %: The maturity benefit is a payable that is made in the form of a lump sum at the expiry of the policy.
• Surrender Benefit: During the policy term, policyholders have the option of giving up the policy. The benefits to be surrendered are the Guaranteed Surrender Value (GSV) or the Special Surrender Value (SSV), depending on the conditions of the policy.

Policy Details of the Bajaj Life Guaranteed Savings Goal Plan

The following are the policy details of the plan:

1. Grace Period

   There is no grace period to be provided, since in this plan, one has to pay only one premium at the time of commencement of the policy.

2. Revival

   The revival is not quite applicable since the policy relies on one premium.

3. Free Look Period

   The policyholders are given 15-day free look period following the delivery of the policy document. In the case of policies bought via the electronic or distance medium, the duration of the free look period is 30 days.

4. Surrender

   The policy can be terminated at the time of the policy term. The amount of the surrender benefit that would be paid will be the greater of the guaranteed surrender value and the special surrender value.

5. Fund Switching

   The situation does not apply to fund switching, as this is a non-linked insurance plan. The best investment plans in 2026 will entail a combination of saving plans, market-driven investments, and retirement-oriented plans.

6. Loan

   When the policy has gained a sum of money, policyholders can borrow the money as a loan. The amount of a loan is allowed to be 80% of the surrender benefit, depending on the policy terms.

Exclusions Under the Bajaj Life Guaranteed Savings Goal Plan

1. Suicidal Cover

   If the life assured dies due to suicide within 12 months from the commencement of risk, the nominee will receive the higher of 80% of the single premium paid or the surrender benefit available, after which the policy terminates.

2. Total Permanent Disability (TPD)

   Coverage for total permanent disability is available only if a disability-related rider has been added to the policy.

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