Bajaj Life Goal Assure II

What is Bajaj Life Goal Assure II?

Bajaj Life Life Goal Assure II is an individual Unit Linked Insurance Plan designed to help you achieve your life goals with ease. It offers Loyalty Additions from the 6th Year and Fund Boosters at maturity, ensuring maximum returns on your savings. With protection from day one and returns of mortality charges on Policy maturity, it secures your financial future while you focus on your milestones.

What is the Eligibility Criteria for Bajaj Life Goal Assure II Plan?

What are the Benefits of Bajaj Life Goal Assure II?

Here are the benefits of Bajaj Life Goal Assure II Plan:

• Get a bonus amount at maturity if your policy term is 10 years or more.

• If you pay an annual premium of Rs 5 lakhs or more and your policy term is 10 years or more, you'll get loyalty additions.

• Get back a portion of the mortality charges you paid over the policy term.

• Choose to receive your death benefit or maturity benefit in instalments over a period of time, with an additional benefit amount.

• Select the investment strategy that best suits your risk appetite and investment goals.

• Choice of fifteen(15) funds.

• Option to reduce the premium.

• You can decrease your sum assured and change your premium payment term subject to certain conditions.

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How Does Bajaj Life Goal Assure II Work?

Here's how Bajaj Life Goal Assure II works:

• Premiums paid by the policyholder are invested based on chosen portfolio strategies across various funds.

• Units are allocated based on the prevailing Unit Price of the funds.

• Mortality and Policy Administration charges are deducted monthly by cancelling units.

• Fund Management Charge is adjusted within the Unit Price.

• Policyholders have the flexibility to select from different portfolio strategies.

• Regular statements provide transparency on investment performance and charges.

Rider Under the Bajaj Life Goal Assure II Plan

Bajaj Life Life Linked Accident Protection Rider UIN: 116A055V01

It is an add-on coverage (rider) that you can purchase along with the ULIP plan. It provides financial protection in case of accidents that result in permanent disability or death.

Exclusions Under the Bajaj Life Goal Assure II Plan

• In case of death of the life assured due to suicide within 12 months from the date of commencement of the Policy or from the date of revival of the policy, whichever is later, the nominee or beneficiary shall be entitled to Fund Value, as available on the date of intimation of death.

• Any charges other than the Fund Management Charge or Guarantee Charge recovered subsequent to the date of death shall be added to the Fund Value as on the date of intimation of death.

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Additional Plan Details of the Bajaj Life Goal Assure II Plan

1. Termination:

   • All risk cover under the policy will terminate immediately, and the Policy will terminate on payment of the last instalment if the Settlement Option is chosen.

   • The Policy shall automatically and immediately terminate on various events including foreclosure, receipt of intimation of death of the Life Assured (unless Settlement option has been opted for), payment of Discontinuance Value or Surrender Benefit, Maturity Date (unless Settlement Option is chosen), expiry of the Settlement period (if opted), and cancellation of Policy during the Free look period. Investors often research the best SIP to invest in for long-term financial stability.

2. Grace Period:

   A grace period of 30 days for yearly, half yearly & quarterly premium payment frequency and 15 days for monthly premium payment frequency is available from the due date of regular premium payment, during which the Policy is considered to be in force without any interruption.

3. Free Look Period:

   The policyholder has a free look period of fifteen (15) days from the date of receipt of the policy document (30 days for electronic policies and policies obtained through distance mode) to review the terms and conditions of the policy. If the policyholder disagrees with any terms or conditions, they have the option to return the policy to the insurer for cancellation, subject to deductions.

4. Foreclosure:

   If the Fund Value under any policy after the completion of 3 policy years is lower than one prevailing annualized premium, the policy shall be automatically foreclosed, and any Discontinuance Value/Surrender Benefit shall be available to the Policyholder. The policyholder will be given the option to pay any premiums due or top-up premiums before foreclosure.