Bajaj Life Smart Wealth Goal IV Plan

Eligibility Criteria for the Bajaj Life Smart Wealth Goal IV Plan

Features of Bajaj Life Smart Wealth Goal IV Plan

Here are the key features of the plan:

1. Market-Linked Investments

   Premiums are deposited in market-linked funds that enable the policyholders to enjoy the possible growth in the market, which can lead to higher returns compared to traditional fixed-income investments.

2. Multiple Fund Options

   The plan provides a variety of investment funds, where investors are able to select equity, debt, or balanced funds depending on their risk tolerance.

3. Flexible Premium Payment Options

   Policyholders can choose between regular and limited premium payment terms, depending on their financial needs.

4. Fund Switching Facility

   The investors are able to alternate among the available funds so as to suit their investment strategy to the varying market conditions within the policy term.

5. Partial Withdrawal Option

   Upon expiry of the lock-in period, the policyholders will be able to withdraw a portion of their funds to meet their financial requirements.

Benefits of Bajaj Life Smart Wealth Goal IV Plan

Below are the benefits of this plan:

1. Life Insurance Protection

   Under this investment plan, the nominee is provided financial security in the event of the policyholder's unfortunate death during the policy term.

2. Maturity Benefit

   If the policyholder survives to the end of the policy term, the investments made are paid out as a maturity benefit based on the accumulation of the fund.

3. Flexibility In Investment Strategy

   Policyholders are allowed to change funds based on market movements or individual financial objectives. Bajaj Life ULIP Plans allow individuals to build long-term wealth while enjoying life insurance coverage.

4. Liquidity Through Partial Withdrawals

   Following the lock-in period, it is possible to withdraw the funds partially to use them in case of an emergency or budgeted costs.

Riders Under the Bajaj Life Smart Wealth Goal IV Plan

The riders that are often provided are:

• Accidental Death Benefit Rider
• Accidental Permanent Total Disability Rider
• Critical Illness Rider

These riders can be added to strengthen the protection component of the policy, subject to insurer terms and eligibility conditions, and they provide additional financial support in the event of critical illnesses or accidental permanent total disabilities.

Policy Details of the Bajaj Life Smart Wealth Goal IV Plan

The following are the policy details of this plan:

1. Grace Period

   They provide a grace period of 15 days to pay the monthly premiums and 30 days to pay the annual, semi-annual, or quarterly premiums. The policy is still in force during this period.

2. Revival

   If the policy is lost due to non-payment of premiums, it can be reinstated within 5 years from the date of the unpaid initial premium, subject to the insurer's terms and conditions.

3. Free Look Period

   The policyholders are entitled to a supplementary period of 15 days to freely review the policy document from the date of its receipt. During this period, they can revise the terms and withdraw the policy if they fail to impress.

   

4. Surrender

   In case the policy is abandoned in the lock-in period, the fund value is moved to a discontinuance fund and paid upon the end of the lock-in period according to the relevant regulations.

5. Fund Switching

   The strategy allows one to switch among different investment funds in the policy. This will enable the investors to align their investment plan with the dynamic market so that their portfolio is always informed of their financial objectives and risk tolerance, along with market dynamics.

6. Total Permanent Disability (TPD)

   Total permanent disability benefits apply only if the special disability rider is chosen and accepted as part of the policy.

Exclusions Under the Bajaj Life Smart Wealth Goal IV Plan

Suicidal Clause

If the life assured commits suicide within 12 months of policy commencement or revival, the nominee will receive the fund value available on the date of death.