Bajaj Life Invest Protect Goal III Plan

Eligibility Criteria for the Bajaj Life Invest Protect Goal III

Features of the Bajaj Life Invest Protect Goal III

Evaluating the features of a policy helps policyholders understand how it supports wealth creation and protection. Here are the Key features under the Bajaj Life ULIP Plans:

1. High Life Cover

   The plan offers life insurance coverage that provides financial security to the beneficiaries in the event of the policyholder's death.

2. Market-Linked Investment Growth

   Investments are associated with market performance, where one stands a potential for wealth growth in terms of equity or debt, or hybrid funds.

3. Multiple Fund Options

   Policyholders can choose among different funds based on their risk tolerance and financial objectives.

4. Return Of Charges

   The plan offers refunds on certain charges, e.g., mortality and allocation charges, thereby increasing the total value of the investment.

5. Fund Maintenance Booster

   Additional loyalty benefits may be credited during the policy term, increasing the investment value over time.

6. Flexibility In Investment Strategy

   Policyholders can change their investment plan based on market conditions and financial objectives.

Benefits of the Bajaj Life Invest Protect Goal III

Policy benefits determine how effectively a plan supports financial growth and protection. Let us review the key benefits of Bajaj Life Invest Protect Goal III:

1. Maturity Benefit

   The policyholder is paid the fund value at the expiry of the policy term, and this value is based on the performance of the investment funds chosen.

2. Death Benefit

   In case the policyholder dies during the policy term, the nominee is entitled to the amount assured under the policy or the fund value to support the family.

3. Free Investment Decision Making

   The plan is flexible, allowing policyholders to choose funds that may suit their financial objectives and risk tolerance.

Riders Under the Bajaj Life Invest Protect Goal III

Insurance riders allow policyholders to strengthen their protection coverage. Following are the available riders under this plan:

1. Accident Protection Rider

   Provides an added coverage in case of accidental death or disability.

2. Accidental Death Benefit(ADB).

   Gives an extra payout in case of death through accident.

3. Accidental Total Permanent Disability Benefit (ATPDB).

   Gives financial support in case of accidental permanent disability.

Policy Details of the Bajaj Life Invest Protect Goal III

Understanding policy servicing features helps policyholders manage their coverage effectively. Let us review the key policy provisions.

1. Grace Period

   It provides a grace period during which policyholders can settle outstanding debts on their premiums without forfeiting their policy benefits.

2. Revival

   In case the policy is not maintained through payment of the premiums, then it can be reinstated within a certain time by making up the outstanding premiums.

3. Free Look Period

   The policyholders can cancel the policy during the free look period in case they are not satisfied with the policy terms.

   

4. Surrender

   It is possible to surrender the policy upon expiry of the lock-in period, and the value of the surrender depends on the amount of funds available.

5. Fund Switching

   Policyholders are free to change the investment funds that they can invest in, within the policy term, to vary the investment plan.

6. Loan

   The loans on policy could be provided based on policy terms and fund balance.

Exclusions Under the Bajaj Life Invest Protect Goal III

Insurance plans include exclusions that may prevent certain benefits from applying. Let us review the key exclusions.

1. Suicidal Cover

   In case of the death of the life assured because of suicide that occurs within 12 months of issuance of the policy or revival, the nominee could receive the value of the fund or benefit as per the policy terms and conditions.

2. Total Permanent Disability (TPD)

   The total permanent disability benefits are available only if the policyholder has taken the corresponding rider cover.

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