Bajaj Allianz Life Smart Wealth Goal

Bajaj Allianz Life Smart Wealth Goal is a Unit Linked Insurance Plan (ULIP) offered by Bajaj Allianz, which is perfect for individuals who wish to get the benefits of the market along with the coverage of insurance within the same investment amount. Why invest your hard-earned money into two different areas when you have the benefits of both under the same roof? This is a smart way to ensure savings and, at the same time, earn bonuses, all while working towards future goals. 

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Bajaj Allianz Life Smart Wealth Goal Details:

Parameters Details
Policy Tenure 10 -30 years
Premium Paying Term  5 years to Policy Term
Payment Paying Mode
  • Yearly
  • Half-yearly
  • Quarterly
  • Monthly
Entry Age 0-60 years In case of a minor, the policy matures after attaining adulthood
Maturity Age 18 to 85 years
Grace Period 15 days for monthly and 30 days for other premium payment modes
Sum Assured 10 times Annualized Premium
Liquidity No loan can be taken against the policy. Partial withdrawals are allowed after the 5th year. 

Benefits of Bajaj Allianz Life Smart Wealth Goal 

The main benefits of Bajaj Allianz Life Smart Wealth Goal as described below:

Regular Returns: The Bajaj Allianz Life Smart Wealth Goal policy offers a well-planned income through which the customer is subject to receive money-backs and returns of the premium allocation charges starting from the 10th year or maturity date, whichever is earlier. The returns are given regularly every five years after the initiation of this feature. 

Loyalty Benefits: If the customer has been paying all premiums regularly, the amount for lifelong coverage is returned after the policy duration's termination. 

Various Portfolio Strategies: According to the customer's specifications, the available investment option to choose from are divided into five primary groups as enlisted:

  • Investor Selectable portfolio strategy

  • Auto Transfer Portfolio Strategy

  • Wheel of Life Portfolio Strategy II

  • Trigger-based Portfolio Strategy II

  • Capital Preservation Oriented strategy

The investor selectable portfolio strategy opens up 8 investment options to choose from according to assessing a comfortable investment amount and endurable risks. 

Premium Flexibility: The Bajaj Allianz Life Smart Wealth Goal premiums (Regular or Limited) can be cut down up to half of the initial amount after five years of the policy duration. The policyholder can also pay Top-Up premiums, except in the last 5 policy years, subject to conditions.

*Given that the minimum premium amount criteria according to the plan specifications have been met. 

  • Death benefits are payable in case of unforeseen demise of the customer. 

  • Extendable Terms: The policyholder can extend the period of premium payments after completing five years with the policy. The only documentation required here would be a written notice submitted one month before completing the fifth year. 

People Also Read: Bajaj Allianz Life Dynamic Asset Allocation Fund

The Premium for Bajaj Allianz Life Smart Wealth Goal

The minimum premium amount for Bajaj Allianz Life Smart Wealth Goal can be paid in easy installments, which are best-suited for the customer.

The installments to choose from as mentioned:

  • Yearly: Rs.12,000

  • Half-Yearly: Rs.6,000

  • Quarterly: Rs.3,000

  • Monthly: Rs.1,000 

There is no limit on the maximum amount; the policyholder is free to invest any sum above the minimum according to the financial profile and feasibility. 

*For quarterly and monthly installments, the RBI guidelines are strictly followed.

The minimum term for paying premiums is five years, and the maximum period goes on till the policy expires. 

People also read: Bajaj Allianz Life Small Cap Quality Index Fund

Additional Riders for Bajaj Allianz Life Smart Wealth Goal

Bajaj Allianz Life Smart Wealth Goal does not have any rider plans. 

Eligibility for Bajaj Allianz Life Smart Wealth Goal

Anybody can apply for the Bajaj Allianz Life Smart Wealth Goal.

In the case of minors, the coverage and benefits start getting added up as the policy begins, and the bonuses can be availed when the customer becomes an adult. 

  • The age for applying for the policy is 0- 60 years. 

  • The minimum age for the policy's maturity is 18 years.

  • The maximum period for maturity is 85 years.

*The age considered is according to the most recent birthday.

People Also Read: Bajaj Allianz Life Midcap Index Fund NFO

What are the Documents Required to buy this Policy?

  • A proof of identities, such as passport, PAN Card, or Aadhar Card issued by India's Government

  • An age proof to ensure policy terms. This can also be done through a passport or Aadhar Card.

  • Address proof, such as telephone or landline bills.

  • Income proofs such as Income Tax returns or bank statements/salary slips

  • An individual passport size photograph of the customer

How to Buy This Plan Online?

One can buy the Bajaj Allianz Life Smart Wealth Goal online through their website

Step 1: Visit the official website of Policybazaar.

Step 2: Fill in the basic details, including name, age, nationality, phone number, address, etc.

Step 3: You will be redirected to the quotes page.

Step 4: Select the plan that fits the required profile.

Step 5: Go ahead with the payment options, which include UPI, net banking, etc.   

Exclusions of Bajaj Allianz Life Smart Wealth Goal

According to the Bajaj Allianz Life Smart Wealth Goal reviews, the policy is straightforward, but it does consider the following exclusions:

  • Suicidal death: In the case of suicide of the policyholder within 12 months from the date of commencement of the Policy or from the date of the latest revival of the Policy, whichever is later, the nominee or beneficiary will get only the payable amount, i.e., the fund value.


  • Q1. What is ROMC, and how does it work?

    Ans:.ROMC is the Return of Mortality Charge. This amount is the money deducted as Mortality Charges throughout the policy duration, which will be reimbursed as an addition to the Fund Values when the policy matures. This can only be availed of if there are no dues left and if the policy is not discontinued or surrendered.
  • Q2. What are the available bonuses under this policy?

    Ans:.The customer gets loyalty benefits in which all deductible charges are added to the fund values. For customers with longer policy duration, loyalty benefits are added every five years after the completion of the 10th year as money backs.
  • Q3. What is the benefit of a ULIP?

    Ans:.A ULIP helps when one is looking to boost their income. The most attractive feature is that an individual can have savings and insurance, all with the same investment amount. The benefits are increased multifold in this manner.
  • Q4. How can one switch between the investment options?

    Ans:.A policyholder can change their chosen investment strategy during the plan limitlessly, but with an additional charge, which is covered under Miscellaneous Charges of the plan.
  • Q5. How can one change the nominee's name?

    Ans:.For any changes to be made to the plan, one can log on to the official website for Bajaj Allianz, where customer support is available 24x7.
  • Q6. Is there a free look period?

    Ans:.The Bajaj Allianz Life Smart Wealth Goal policy comes with a free look period of 15    days.
  • Q7. Is switching between funds allowed under this policy?

    Ans:.Yes, switching between funds is allowed under the Investor Selectable Portfolio Strategy by giving written notice to the company, except in the case of Discontinued Life 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
^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.
~Source - Google Review Rating available on:-

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Bajaj Allianz Life Smart Wealth Goal Reviews & Ratings

4.5 / 5 (Based on 4 Reviews)
(Showing Newest 4 reviews)
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.
Nainital, July 15, 2016
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.
Delhi, February 06, 2016
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
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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