Bajaj Allianz Invest Protect Goal

Bajaj Allianz Invest Protect Goal is a Unit Linked Insurance Plan (ULIP) investment policy designed to provide individuals with the dual benefits of protection and wealth creation. You can choose from various investment funds based on your risk tolerance and goals. Whether you want to secure your family's future, plan for your child's education, or build a retirement corpus, Bajaj Allianz Invest Protect Goal empowers you to achieve your financial aspirations seamlessly.

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About Bajaj Allianz Invest Protect Goal

Bajaj Allianz Invest Protect Goal is an investment plan that helps you secure your family’s future while offering market-linked returns on your premiums. This plan allows you to protect their loved ones financially and build a corpus for their future needs. 

One of the main feature of Bajaj Allianz Invest Protect Goal is its option to return the mortality charges.

Features of Bajaj Allianz Invest Protect Goal

The key features of Bajaj Allianz Life Goal plan are as follows:

Features Details
High Returns Potential The plans offer you the opportunity to earn high returns over a long period
Life Coverage Inbuilt life coverage throughout the policy term
Inbuilt Features Along with the life cover, the plans also offer the following inbuilt additional features to increase your financial net:
  • Accidental Death Benefit/ ADB rider
  • Accidental Total and Permanent Disability benefit
Investment Funds You have the option to select among 11 funds
Systematic Investment Plan (SIP)
  • With this plan, you can invest in a fixed amount of money regularly over long term
  • This helps in spreading the investment risk over time and provides the benefit of rupee cost averaging
Investment Strategy You get the option to choose among the following investment strategies:
  • Investor Selectable Portfolio Strategy
  • Automatic Fund Transfer Strategy
Investor Selectable Portfolio Strategy
  • You can choose among the 11 ULIP funds and switch among them as per your choice
  • Option to invest fully in one fund or distribute your regular premium and top-up premium across a variety of funds
  • Decide in a way that best meets your investment requirements and risk tolerance
Automatic Fund Transfer Strategy
  • Initially, your premium is divided between low-risk bond funds and liquid funds based on your preferences
  • A fixed amount of the value of your fund will be transferred to the other funds as stated by you at the beginning of each month
  • Depending on your risk tolerance, desire to build wealth and personal objectives, you can select from a variety of equity, debt, and hybrid ULIP funds
Partial Withdrawals Available after the end of 5 policy years of the plan
Unlimited Free Switches You can avail of the benefit of unlimited free switches available to generate the highest returns from the plan

Eligibility Criteria to Buy Bajaj Allianz Invest Protect Goal

The essential criteria for purchasing this investment option are listed in the table below:

Eligibility Criteria Details
Entry Age 18 – 60 years
Maturity Age 38 – 100 years
Policy Term (PT) 20 – 40 years
Premium Payment Term (PPT) Limited Pay: 5 – 12 years (in multiples of 1 year)
Regular Pay: Equal to PPT
Premium Payment Mode Annually/Semi-Annually/ Quarterly/ Monthly
Premium Amount Premium Payment Frequency PPT: 5 – 7 years PPT: 8 years & Above
Annually Rs. 48,000 Rs. 18,000
Semi-Annually Rs. 24,000 Rs. 9,000
Quarterly Rs. 12,000 Rs. 4,500
Monthly Rs. 4,000 Rs. 1,500
Top Up Premium Rs. 5,000 – Subject to Board Approved Underwriting Policy (BAPU)
Sum Assured (SA) 7 × Total Annual Premiums to as per BAPU 

People Also Read: Bajaj Allianz Life Dynamic Asset Allocation Fund

Benefits of Investing in Bajaj Allianz Invest Protect Goal

Let us learn the significant benefits of investing in Bajaj Allianz Invest Protect Goal from the list mentioned below:

  1. Death Benefit:

    • In the event of your unfortunate death during the term of the policy, a lump sum payment as the death benefit is provided to the nominee

    • The death benefit is equal to the higher of the following:

      • Sum Assured with Top-up Sum Assured

      • Total Fund Value

    105% of total premium payment with top premiums

    • The amount of the death benefit depends on factors such as:

      • Sum assured chosen

      • Additional riders or benefits attached to the plan

  2. Maturity Benefit:

    In case of surviving the life assured till the maturity date, the total fund value as on the maturity date shall be payable. 

  3. Tax Benefits:

    Tax benefits are available under section 80C and section 10(10D) of the Income Tax Act, 1961. 

  4. Return of Premium Allocation Charges:

    All the premium allocation charges are returned back at the end of the 10th policy year with respect to regular/limited premium payments to your savings (excluding GST and cess deductions). In term of top-up premium paid, no premium allocation charges is returned. 

  5. Return of Mortality Charges:

    Upon maturity, the deducted mortality charges are added back to the fund value

    At the last of policy year  Return of mortality charges 
    7 year  25% of deduction till 7th policy year 
    15 year  50 % of deduction till 15th year of policy minus mortality charge returned already 
    20 year  100% deduction till the last of 20th policy years minus mortality charges returned already 
    25 years or at maturity (whichever is earlier) 100% of deduction from 21st year of policy 
    30 years or at maturity (whichever is earlier) 100% of deduction from 26th year of policy 
    35 years or at maturity (whichever is earlier) 100% of deduction from 31st year of policy 
    40 yeaes or at maturity (whichever is earlier) 100% of deduction from 36th year of policy 
  6. Loyalty Additions:

    Insurer will contribute to the savings by adding a fixed % of the average of last 3 years regular premium fund value on a daily basis as mentioned: 

    End of policy year Loyalty Additions (%) ages 
    15th  2%
    20th  2.50%
    25th  3.50%
    30th  4%
    35th  5%
    40th  5.50%

People Also Read: bajaj allianz midcap index fund nfo

Fund Options under Bajaj Allianz Invest Protect Goal

The plans offer you to choose among the below-mentioned 11 fund options to earn benefits from the market-linked returns:

Fund Options 7-Year Returns 10-Year Returns Risk Factor
Accelerator Mid-Cap Fund II  14% 17.5% High-Risk High Return
Small Cap Fund  N/A N/A High-Risk High Return
Pure Stock Fund 13% 16.2% High-Risk High Return
Equity Growth Fund II 13.1% 14.9% High-Risk High Return
Bluechip Equity Fund 13.3% 12.8% High-Risk High Return
Bond Fund 6.5% 7% Moderate Risk
Liquid Fund 3.5% 4.9% Low Risk
Asset Allocation Fund II 9.9% N/A High-Risk High Return
Pure Stock Fund II N/A N/A High-Risk High Return
Flexi Cap Fund N/A N/A High-Risk High Return
Sustainable Equity Fund N/A N/A High-Risk High Return

The plan offers unlimited free switches to transfer your amount between multiple funds and maximise your returns.

People Also Read: SIP Calculator

Charges Levied under Bajaj Allianz Invest Protect Goal

The major charges levied under the Bajaj Allianz Invest Protect Goal Plan are as follows:

Particulars  Policy Details
Mortality Charge These are the fees or charges levied by the insurance company to cover the risk of providing life insurance coverage Deducted on a monthly basis Mortality charges are calculated based on these factors:
  • Age
  • Health condition
  • Sum assured of the policyholder
Fund Management Charge (FMC)
  • These are the fees associated with the management and maintenance of the investment portfolio associated with the policy
  • This includes activities such as fund selection, asset allocation, research, administration, and other related expenses
  • Annual FMC: 0.50% to 1.35%
Policy Administration Charge (PAC)
  • Up to 5th Policy Year: NIL
  • 6th Policy Year onwards: 4.50% p.a. of annualised premium payment 
  • PAC is deducted up to Rs. 500 per month
Premium Allocation Charge
  • 4% to 12% of the Annualised Premium is deducted 
  • From 6th Policy Year: NIL
  • Premium Allocation Charges of Top-Ups: 2%
Miscellaneous Charge Rs. 100 is charged as miscellaneous expenses for every applicable incidence
Discontinuance/ Surrender Charge
  • A charge is levied on discontinuance of policy before completion of 5 years lock-in period
  • From 6th policy year: NIL
  • Discontinuance/ Surrender charges on units purchased with Top-up premiums: NIL

Policy Details of Bajaj Allianz Invest Protect Goal

Let us learn the key policy details involved in this ULIP plan from the below-mentioned table:

  • Surrender Benefit : In case of surrendering the policy during the lock-in period of 5 years, Regular and Top Up Fund Value is credited back to you after deducting discontinuance charges. If you surrender the policy after 5 policy years: Total Fund Value is paid back

  • Free Look Period: To review the terms and conditions and cancel the policy, you get a free look period of 15 days for electronic mode policies and 30 days through distance mode. 

  • Assignment/ Nomination of Policy: Available under Insurance Act, 1938

  • Grace Period: This is the specified period of time provided to policyholders beyond the due date of premium payment

  • Grace Period for Annual/ Semi-Annual/ Quarterly Premium Payment Frequency: 30 days

  • Grace Period for Monthly Premium Payment Frequency: 15 days

  • Policy Revival: You can revive the policy within 3 years of last due premium payment

How Does the Bajaj Allianz Invest Protect Goal Work? 

Learn the working process of Bajaj Allianz Invest Protect Goal Plan from the steps mentioned below:

Step 1: Select the following details of the plan:

  • Sum Assured

  • Premium Payment Term (PPT)

  • Policy Term (PT)

Step 2: Decide the life coverage you wish to get

Step 3: Select your investment portfolio strategy and decide the funds you want to invest

Illustration of Returns of Bajaj Allianz Invest Protect Goal

Let us learn the returns and benefits you can earn from this plan by taking the following conditions:

  • Your Entry Age: 35 years

  • Premium Amount: Rs. 5,000 per month

  • PPT: 10 years

  • PT: 30 years

Benefits/Returns:

  • Lump Sum Payout: 2.7 crores

  • Life Coverage: Rs. 17.3 lakhs

  • Tax Benefits: Save tax of up to Rs. 28.2 lakhs over a 10-year tenure u/Sec 80C and Section 10 (10D) of the Income Tax Act, 1961

  • Tax Savings u/ Section 10 (10D) on ULIP Plans: No tax on maturity benefits

Tax Benefits u/ Section 80C
Policy Year Investment Amount Tax Savings
In 1st year Rs. 60,000 If your income is in the 30% tax slab, Total Tax = Income Tax as per Slab Rates + 4% Cess = (30% × Rs. 60,000) + (4% × 18,000) = Rs. 18,000 + Rs. 720 = Rs. 18,720
Over 10 years Rs. 6 lakhs = Rs. 18,720 × 10 = Rs. 1.87 lakhs tax savings

Documents Required for Bajaj Allianz Invest Protect Goal Plan

When applying for the Bajaj Allianz Invest Protect Goal plan, you will typically need to submit the following documents:

Particulars Documents Required
Basic Documents Proposal Form with the following details:
  • Personal information
  • Contact details
  • Occupation
  • Income
  • Health-related information
  • Nominee details
ID Proof
  • Aadhaar Card
  • Passport
  • PAN Card
  • Voter ID Card
  • Driving License
Address Proof
  • Aadhaar Card
  • Passport
  • Utility bills (electricity bill and telephone bill)
  • Bank account statement
  • Rent agreement
Age Proof
  • Aadhaar Card
  • Passport
  • Utility bills (electricity bill and telephone bill)
  • Bank account statement
  • Rent agreement
Income Proof
  • Salary slips (for salaried individuals)
  • Income tax returns (ITR) or Form 16 (for self-employed individuals)
  • Bank statements showing regular income deposits

FAQ's

  • What is Bajaj Allianz Wealth Goal Plan?

    Bajaj Allianz Wealth Goal Plan is a Unit Linked Insurance Plan (ULIP) plan that is designed to help individuals achieve their long-term financial goals while providing life insurance coverage.

    A portion of the premium paid goes towards providing life insurance coverage. The remaining portion of the premium is invested in various investment funds offered by Bajaj Allianz.

    The plan provides the option to switch between different investment funds and the facility of return on mortality charges.

  • What is the cost of Bajaj Smart wealth goal?

    The premium payment amount from various payment frequencies under the Bajaj Smart Wealth Goal Plans are as follows:
    Premium Payment Frequency For 5 -7 years PPT For 8 years & Above PPT
    Yearly  Rs. 48,000 Rs. 18,000
    Half Yearly Rs. 24,000 Rs. 9,000
    Quarterly Rs. 12,000 Rs. 4,500
    Monthly Rs. 4,000 Rs. 1,500
  • Can I withdraw money from Bajaj Allianz policy?

    Yes, you can withdraw money from your Bajaj Allianz policy. There are two ways to do this:
    • Partial withdrawal: You can withdraw a portion of the money that has accumulated in your policy on payment of a small fee

    • Surrender: You can surrender your entire policy and receive the entire amount that has accumulated in your policy

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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Bajaj Allianz Invest Protect Goal Reviews & Ratings

4.5 / 5 (Based on 4 Reviews)
(Showing Newest 4 reviews)
Umakant
Panagarh, August 16, 2016
Ulip Insurance Plan
After a long while, got the insurance policy which i needed. The ulip insurance plan from bajaj life insurance. The policy coverage is high and claims are easy to sanctioned. Service provided by you is superb, the updates of the policy is regularly mailed to me at my email address.
Nakul
Nainital, July 15, 2016
Good
I have ulip plan from bajaj allainz life insurance company limited. The policy is great and it works for me and give me full satisfaction. Policy coverage and claims are good. Claiming is very easy because the service of the staff of the company is awesome.
Ankit
Delhi, February 06, 2016
"Average"
I have life insurance with bajaj. The policy i have is an average one. Low premiums but the paybacks are also less. The policy coverage and claims are ~60-70%. The services provided is slow. Kaam chalau...
Plan Name: Future Gain
Agent Code: BPW01312
Hari
Lucknow, December 20, 2015
First time invested on bajaj allianz ulip plans
I really liked the concept of ulip plans and invested my saving on this. Really appreciated the valuable informations on Policybazaar.and the very cool customer care process. I also find bajaj allianz ulip nav and therefore i have invested on this. Lets hope for the best. If it works i will invest more, this is my first time, But would recommend to all. All the best!
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