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In Unit Linked Insurance Policies, the investment risk is borne by the policyholder. These insurance products do not offer any liquidity in the first 5 years, as they have a mandatory lock-in period of 5 years. During this period, the policyholder cannot fully or partially withdraw the invested amount or surrender the policy.
Bajaj Life Goal Assure
Bajaj Life Goal Assure is a goal-based unit linked life insurance plan that offers both insurance and investment benefits in a single package. The plan comes with loyalty additions that are paid from the 6th year, and the fund boosters are paid at the time of maturity. This plan returns the mortality charges on plan maturity, thus ensuring you significant returns on your savings while offering protection from 1st day.
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Bajaj ULIP Plans
- Bajaj Life Goal Assure
Features of Bajaj Life Goal Assure
The investment plan is a popular plan of Bajaj Life Investment Plans, the features of which are:
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Fund Booster at Maturity: At the end of the policy term, Fund Booster (FB) is added to your regular premium Fund Value, increasing the overall amount.
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Loyalty Additions: For staying invested for a longer period, loyalty additions in the form of units are added to the Fund Value. Each Loyalty Addition will be greater in percentage than the previous one.
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Plan Type: It is a Unit Linked Insurance Plan, providing both insurance and investment opportunities, helping you grow money for a financially secured future.
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Return of Mortality Charges at Maturity (ROMC): At the end of the Policy term, the entire Mortality Charges are returned, ensuring higher returns.
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Inbuilt Riders: Riders are available to provide additional financial protection.
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Choice of 4 Investment Portfolio Strategies: The four investment portfolio strategies help align asset allocation with your risk tolerance ensuring maximum returns. The four investment portfolio strategies are:
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Investor Selectable Portfolio Strategy
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Wheel of Life Portfolio Strategy
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Trigger Based Portfolio Strategy
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Auto Transfer Portfolio Strategy
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Multiple Funds to Choose From: You have the option to choose from a range of 22 funds, to tailor your investments based on your financial goals.
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Option to Reduce the Premium: Avail the option to reduce the prevailing Regular/Limited Premium, up to 50%, after the first five (5) Policy years.
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Option to Decrease Sum Assured and Change Premium Payment Term: You can reduce the amount of your sum assured, and increase or decrease your premium payment term based on your changing needs.
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Life Insurance Cover Throughout the Policy Term: The feature ensures financial protection of your loved ones, so that they are secured, whether you are around or not.
Bajaj Life Goal Assure Eligibility
| Parameters | Description |
| Entry Age | Minimum: 0 years Maximum: 60 years |
| Maturity Age | Maximum: 75 years |
| Policy Tenure | 10,15,20 years |
| Premium Payment Term (PPT) |
10 years Policy Term: 5, 7 or 10 years 15 years Policy Term: 5, 7, 10 or 15 years 20 years Policy Term: 5,7,10, 15 or 20 years |
| Premium Payment Frequency |
Yearly, Half-yearly, Quarterly or Monthly |
| Minimum Sum Assured | For entry age less than 50 years: 7 X Annualised Premium For 50 years entry age and above: 5 X Annualised Premium |
| Maximum Sum Assured | Maximum Sum Assured is based on Annualised Premium, Age of Entry, Policy Term 1. If Annualised Premium is between Rs.36,000 to Rs.4,99,999 For Policy Term: 10 years: Sum Assured: 10 X Annualised Premium for Entry Age from 0 to 60 years For Policy Term: 15 and 20 years: Sum Assured: 15 X Annualised Premium for Entry Age 0-44 years, and 10 X Annualised Premium for Entry Age 45-60 years 2. If Annualized Premium is Rs.5,00,000 and above For Policy Term10 years: Sum Assured: 10 X Annualised Premium for Entry Age from 0 to 60 years Policy Term: 15 and 20 years: Sum Assured: 20 X Annualised Premium for Entry Age from 0- 44 years, and 10 X Annualised Premium for Entry Age from 45-60 years |
| Minimum Premium (Modal Premium & Top up) |
Yearly: Rs. 36,000 Half-yearly: Rs. 18,000 Quarterly: Rs. 9,000 Monthly: Rs. 3,000 Top-Up: Rs. 5,000 *For Quarterly and Monthly Premium Payment frequencies, only auto-debit is applied as per stipulations of RBI. Top Up Premium: Rs. 5,000 |
Benefits of Bajaj Life Goal Assure
The key benefits of this investment plan are as follows:
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Death Benefit: In case of the unfortunate death of Life Assured, the nominee receives:
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Higher of, Prevailing Sum Assured, or Regular Premium Fund Value, and
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Higher of, Top-up Sum Assured or Top-up Premium Fund Value
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The Death Benefit cannot be less than the Guaranteed Death Benefit of 105% of the Total Premiums paid.
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Maturity Benefit: On survival of the policy term, the Life Assured receives the Regular Premium Fund Value plus the Top-Up Regular Premium Fund Value, provided the policy remains in force. For long-term wealth creation, investors often compare returns to identify the best SIP alongside such goal-based investment options.
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Tax Benefits: The extant law exempts the Premium paid and benefits received during a financial year from tax under Section 80C and Section 10(10D), respectively of the IT Act, 1961.
*Tax benefit is subject to changes in tax laws
Additional Riders for Bajaj Life Goal Assure
Under the Bajaj Life Goal Assure plan, you have three rider options available, to enhance your protection, besides the general cover:
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Bajaj Life Linked Accident Protection Rider II
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Bajaj Life Care Plus Rider
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Bajaj Life Linked New Critical Illness Benefit Rider
Latest ULIP NAVs
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Additional Details of Bajaj Life Goal Assure
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Grace Period: 15 days for monthly mode of payment and 30 days for other modes of payment from the Premium due date.
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Partial Withdrawal: Partial Withdrawal is allowed after the 5th policy anniversary.
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Free Look Period: Get a free look period of 30 days beginning from the date of receipt of the policy document.
Documents Required to Buy Bajaj Life Goal Assure
The Official Valid Documents (OVD) required to buy Bajaj Life Goal Assure are listed below:
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ID Proof
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Age proof
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Address Proof
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Income Proof
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Bank Account Details
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Recent Photograph
How to Buy Bajaj Life Goal Assure Online?
The Insurer portal has the facility for online Bajaj Life Goal Assure purchase. The process involves three simple steps that appear after you fill in your basic details and click the "Proceed" button.
Step 1: Generate Quote where two phases are involved – Personal Information and Investment Preferences.
Step 2: Payment
Step 3: Proposal Form
Exclusions of Bajaj Life Goal Assure
The nominee is entitled to receive the prevailing Fund Value on the date of intimation in the event of death due to suicide within 12 months of inception of the policy
FAQs
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How much is the Lock-in period in Bajaj Life Goal Assure?
The Lock-in period in the Bajaj Life Goal Assure Policy is 5 years. -
Does the Bajaj Life Goal Assure permit surrender of policy?
Yes. The policy can be surrendered at any time, but the treatment will depend on whether the act is during the Lock-in period or after. -
Is there any provision for a loan under the Bajaj Life Goal Assure?
No, the Insurer does not provide any loan under this policy. -
Is there any Settlement Option in the Bajaj Life Goal Assure?
Yes, it allows the Life Assured to receive the Maturity Benefit in installments spread over a maximum of 5 years. -
Can I revive my policy after missing a premium?
Yes, you have 3 years from the first missed premium to revive the policy by paying all due premiums. -
What if I stop paying premiums during the first 5 years?
Your policy will become a Discontinued Policy with no risk cover or benefits, and your fund value (after charges) will be moved to a Discontinued Fund.
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Disclaimer: Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ