Bajaj Life Goal-Based Saving II Plan

Eligibility Criteria for the Bajaj Life Goal-Based Saving II Plan

Features of Bajaj Life Goal-Based Saving II Plan

Here are the key features of the plan:

1. Goal-Based Investment Approach

   The plan enables the investors to choose investment funds that meet their financial objectives.

2. Life Insurance Coverage

   The plan also provides life coverage to protect the family of the policyholder in the event of investment losses.

3. Multiple Fund Options

   The policyholders can choose to invest in equity, debt, or a balanced fund, depending on the level of risk they are willing to take.

4. Flexibility of Premium Payments

   The plan offers regular or limited premium payments depending on various financial circumstances.

5. Long-Term Wealth Creation

   The long-term investment will allow policyholders to potentially increase their savings by receiving returns that are linked to the market.

   Individuals exploring structured savings options may also consider a savings plan to build a disciplined financial portfolio.

Benefits of the Bajaj Life Goal-Based Saving II Plan

Below are the benefits under the Bajaj Life ULIP Plan:

1. Life Cover Benefit

   In case of the policyholder’s unfortunate demise during the policy term, the nominee receives the applicable death benefit as per policy conditions.

2. Maturity Benefit

   If the policyholder survives until the end of the policy term, the fund value accumulated through investments is paid as the maturity benefit.

3. Goal Planning Advantage

   The plan helps individuals stay committed to long-term goals such as education, retirement, or wealth accumulation.

4. Market-Linked Returns

   Given the connection between the policy and market performance, one can expect higher returns from funds.

5. Tax Advantages

   The premiums paid and benefits received can be subjected to tax benefits as provided by the income tax laws.

Riders Under the Bajaj Life Goal-Based Saving II Plan

Riders can enhance the protection offered by the base policy. Some optional riders may include:

• Accidental Death Benefit Rider
• Critical Illness Rider
• Accidental Permanent Total/Partial Disability Rider
• Waiver of Premium Rider

Policy Details of the Bajaj Life Goal-Based Saving II Plan

Some of the significant policy provisions are listed below:

1. Grace Period

   • 15 days under the monthly premium payment mode.
   • 30 days for annual, semi-annual, or quarterly premium payment options.

2. Revival

   • It is during the period of permitted renaissance of lapsed policies.
   • Reviving the policy will require paying all due premiums and other charges.

3. Free Look Period

   • The policyholders would be able to go through the policy within 15 days after receiving it.
   • In case the terms and conditions are not satisfactory, the policy can be cancelled.
   

4. Surrender

   • It is possible to give up the policy once the lock-in period is over.
   • The surrender process will be done based on the pertinent policy terms.

5. Fund Switching

   • Policyholders can change investment funds.
   • This helps control investment risk in line with market conditions or financial objectives.

Exclusions Under the Bajaj Life Goal-Based Saving II Plan

1. Suicidal Cover

   In case the policyholder has committed suicide within the 12 months in the policy commencement date or revival date, the benefits of the policy will be restricted according to the policy rules.

2. Total Permanent Disability (TPD)

   The benefits associated with total permanent disability can only be paid in case the disability is as per the conditions set in the policy, and it arises during the term of the policy.

   Explore some of the best investment plans to know more about the criteria, features, and eligibility by comparing and choosing the best option.