Term Insurance plans provide financial coverage in lieu of the premiums paid on the unfortunate demise of the person insured. One such plan that offers comprehensive coverage is the. This plan offers a competitive premium and an all-encompassing life cover Bajaj Allianz Life Smart Protect Goal policy. Further, there is an option to get the entire premium back on the maturity of the policy. It also covers financial losses suffered by the person insured due to critical illness.
+Tax benefit is subject to changes in tax laws.
++All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Hence as per the Bajaj Allianz Life Smart Protect Goal reviews, this is a complete term insurance plan with new-age features.
Parameters |
Details |
Policy Tenure |
Without Return of Premium option (ROP) on maturity:- Limited Pay plans: 6 years to (85 – Entry Age) years Regular Premium: 5 years to (85 – Entry Age) years Single pay plans: 5 to 40 years With ROP Limited pay plans: 10 years to (75 – Entry Age) years Regular Premium: 10 years to (85 – Entry Age) years Single pay plans: 10 to 40 years With Whole life Limited Pay: (99 years – Entry Age) years |
Premium Paying Term |
Without Return of Premium option (ROP) on maturity:- Limited Pay plans: 5 years to 30 years Regular Premium: 5 years to 67 years Single pay plans: Single premium With ROP Limited pay plans: 5 years to 30 years Regular Premium: 10 years to 57 years Single pay plans: Single premium With Whole life Limited Pay: 5 to 30 years |
Premium Paying Mode |
Monthly, Semi-annually and Annually |
Entry Age |
18 years to 65 years |
Maturity Age |
With ROP option – 75 years Without ROP option – 85 years Whole Life option – 99 years |
Grace Period |
30 Days (15 Days for monthly) |
Sum Assured |
50 Lakh to No limit For riders 5 Lakh to 1 Crore under CIB (Critical Illness Benefit) option 5 Lakh to 2 Crore under ADB (Accidental Death Benefit)/ATPDB (Accidental Total Permanent Disability Benefit) |
Liquidity |
Loans are not available |
The core benefits of Bajaj Allianz Life Smart Protect Goal Policy are briefly described below:
* Tax benefit is subject to changes in tax laws
The Bajaj Allianz Life Smart Protect Goal premium is divided into three options as mentioned below:
For the Single Pay Option, the minimum single premium is *Rs 50 Lakhs, while there is no limit for the maximum amount.
For the Limited Pay and Regular Pay option, the minimum premium amount is equal to:
*Standard T&C Apply
Applicants can use the Bajaj Allianz Life Smart Protect Goal Calculator to check for a different sum assured and corresponding premium amount according to their needs.
There are various riders available for policyholders to customize their policy. They are:
These riders provide financial coverage against accidental death, disability due to accidents, and up to 55 critical illnesses.
Entry Age:
Maturity Age:
The documents required to buy this policy are:
To buy Bajaj Allianz Life Smart Protect Goal, one needs to follow the below-mentioned steps:
Step 1: Go to the policy provider website.
Step 2: Search for Bajaj Allianz Life Smart Protect Goal Policy and check the various eligibility conditions, etc.
Step 3: Click on the ‘Buy Now’ option.
Step 4: Enter personal details like name, date of birth, pin code, educational qualification, income, and other contact details.
Step 5: Select whether the person is a smoker or not, and their gender.
Step 6: Once done, choose the premium paying term and calculate the premium.
Step 7: Click on the pay premium.
Step 8: Choose any of the online payment options to pay the premium.
The policy documents will be mailed to the registered email address.
If a policyholder commits suicide within one year from the date of commencement of or revival of the policy, then the nominee will be eligible to get 80% of the total premiums paid. Also, no accidental death or disability benefit will be paid if: