Bajaj Life Goal Assure III Plan

Eligibility Requirements of Bajaj Life Goal Assure III Plan

Features of the Bajaj Life Goal Assure III Plan

The following are the major features of the plan:

1. Whole Life Coverage

   The policy provides life insurance coverage up to the age of 99, ensuring long-term financial security for the family.

2. Market-linked Investment Options

   Policyholders can invest premiums in different funds based on their risk appetite and financial goals.

3. Loyalty Additions

   Since the 10th policy year, the plan has provided loyalty additions that add value to the policy fund.

4. Return of mortality charges

   The mortality charges deducted from life cover may be periodically added back to the fund value, thereby increasing the policy corpus.

5. Premium Waiver Option

   Future premiums may be waived in case of accidental permanent disability or the death of the policyholder, subject to policy terms.

6. More than one investment strategy.

   The plan offers multiple portfolio strategies that allow investors to align their investments with market conditions and risk tolerance. Choosing Bajaj Life ULIP Plan enables individuals to build a disciplined investment portfolio while securing their family’s financial future.

Benefits of the Bajaj Life Goal Assure III Plan

The benefits of this plan are as follows:

1. Maturity Benefit

   At the end of the policy term, the policyholder receives the fund value, including accumulated investments and applicable additions. This helps people meet long-term financial objectives.

2. Death Benefit

   The nominee gets the higher of the following in the event of the death of the life assured during the term of the policy:

   • Sum Assured, or
   • Fund Value of the policy
   • This ensures the nominee's financial protection.

3. Long-Term Wealth Creation

   The plan offers potential capital growth as investments are linked to market-based funds.

4. Eligible Investment Alternatives

   Policyholders can switch between funds based on market performance or changes in financial goals.

Riders Under the Bajaj Life Goal Assure III Plan

The following riders are available under the Bajaj Life Goal Assure III Plan to provide additional financial protection:

•  Accidental Death Benefit Rider.
• Makes an extra payout should there be an accidental death.
• Accidental Permanent Disability Rider.
• Provides financial cover for permanent disability.
• Critical Illness Rider
• Offers financial assistance in case of diagnosis of certain illnesses.

Policy Details of the Bajaj Life Goal Assure III Plan 

The following are the policy details of the Bajaj Life Goal Assure III Plan:

1. Grace Period

   The monthly mode offers a 15-day grace period to pay the premium after the due date, while other modes offer a 30-day grace period.

2. Revival

   If the non-payment of premiums leads to the policy lapsing, it may usually be reinstated within 2 years of the lapse date, subject to the company's rules.

3. Free Look Period

   Policyholders are given a 15-day free look period to review the policy terms and cancel the policy if they are not satisfied. Exploring the best investment plans enables investors to align their savings with long-term financial goals.

4. Surrender

   According to the regulation, a policy can be surrendered after the lock-in period ends.

5. Fund Switching

   Policyholders can switch between investment funds, allowing them to adjust their investment strategy based on market performance.

6. Loan

   Most ULIP (Unit Linked Insurance Plan) policies do not offer loans, and this plan is no exception.

Exclusions Under the Bajaj Life Goal Assure III Plan

1. Suicidal Cover

   If the life assured commits suicide within a year of the policy's start or renewal, the death benefit may be limited as per policy terms.

2. Total Permanent Disability (TPD)

   Disability benefits are provided only when the disability meets the policies outlined in the policy document.