Bajaj Life Goal Assure IV Plan

Eligibility Criteria for the Bajaj Life Goal Assure IV Plan

Features of the Bajaj Life Goal Assure IV Plan

The following are the main features of the plan:

• Various Portfolio Strategies: Select one of four strategies, including investor selectable, wheel of life, trigger based, and auto transfer, which are different methods for managing investments based on individual preferences and market conditions.
• Fund Options: There is a great availability of equity, debt, and balanced funds to invest in. The 20th, 15th, and 10th policy years offer loyalty additions. Additional units will be credited at the expiry of the 10th, 15th, and 20th policy years, provided that the premiums have been paid regularly.
• Fund Booster: This option is added to the existing units at maturity, calculated by the average fund value of the preceding three years.
• Return of Mortality Charges: Mortality charges paid throughout the policy term are refunded at maturity, provided all premiums are paid. With a Bajaj Life ULIP Plan, individuals can build long-term savings while maintaining financial protection for their families
• Flexible Premiums: Policyholders can lower the premiums or alter the payment term of the premiums upon fulfilling some conditions.

Benefits of the Bajaj Life Goal Assure IV Plan

The plan offers the following key benefits:

1. Maturity Benefit

   When the policyholder reaches adulthood, the fund value is based on the number of units they have accumulated during the policy term and any other additions, such as fund boosters and mortality charges.

2. Death Benefit

   In case of the life assured’s death during the policy term, the nominee receives the higher of the sum assured or the fund value, subject to a minimum death benefit of 105% of the total premiums paid.

3. Loyalty Additions

   The policy provides loyalty additions after certain years, enhancing the overall fund value and significantly increasing the amount accessible to the nominee in case of a claim.

4. Liberal Withdrawal Facilities

   Partial withdrawals may be taken after the fifth year of the policy under certain conditions, such as the policy being in force and the account value exceeding a specified threshold.

Riders Under the Bajaj Life Goal Assure IV Plan

The policy has the following riders associated with it:

• Bajaj Life-linked accident protection Rider II.
• Bajaj Life Care Plus Rider.
• Bajaj Life Linked New Critical Illness Benefit Rider.
• Policy Specifics Of Bajaj Life Goal Assure IV Plan.

Policy Details Under the Bajaj Life Goal Assure IV Plan

The following are the policy details under the Bajaj Life Goal Assure IV Plan:

1. Grace Period

   It offers a grace period for payment of the premium after the due date. In this case, the policy is in force, and the policyholder may still have the policy coverage by paying the outstanding premium.

2. Revival

   The policy can be revived within three years from the due date of the first unpaid premium.

3. Free Look Period

   In case the policyholder is not content with the policy terms, then they can opt to cancel the policy during the free look period after obtaining the policy document.

   

4. Surrender

   The policyholder can, at any time, surrender the policy. If you surrender in the first lock-in period, the proceeds will go to the discontinued policy fund and be paid at the end of the lock-in period.

5. Fund Switching

   Policyholders will be able to move their funds between funds based on their investment preference and, therefore, can make a change in their portfolio depending on the market conditions. The best investment plans provide structured opportunities to grow savings while maintaining financial stability.

6. Loan

   During the lock-in period, loans are normally not available under the ULIP plans.

Exclusions Under the Bajaj Life Goal Assure IV Plan

Suicidal Clause

If the life assured commits suicide during the exclusion period from the policy start date, the benefits may be limited according to the policy terms. This means that only the premiums paid can be refunded, and no other benefits will be paid.