Tax Saving Schemes | Assured Wealth Goal - Second Income

Why monthly investments in ULIPs make sense?

How to tide over market volatility with ULIPs

4 ULIP Benefits You Can Take Advantage Of

⭐ Will the Policyholder receive Income payouts immediately after the Policy Term?

The Policyholder will have an option to defer Income payouts for 0 /1 / 2 years after the end of Premium payment term. This selection has to be done at the policy inception.

⭐ Is there life cover during the Income Period?

Yes, since the Income period is within the Policy term, life cover will be available during the Income period.

⭐ What is the maximum loan one can avail of under this Plan?

The maximum loan one can avail of under the plan is 80% of the surrendered value acquired at the time of availing of the loan.

⭐ How can Policyholder choose the Income payout date?

The Policyholder can choose to prepone the Income payout for a period maximum upto 365 days within the Income period in case the Income payouts are received annually. In case of monthly income payouts, the preponement can be maximum upto 30 days still within the Income Period.

Life Insurance Glossary

Discontinuance Charges

These charges are deducted from the policyholder's account/fund if the life insurance policy is surrendered by the policyholder. This is also called as the Surrender Charge

Fund Value

It is the total value of units that a policyholder holds in funds. Fund Value = Number of Units x Net Asset Value

Fund Management Charges

These are charges deducted towards meeting expenses related to fund management. These are charged as a percentage of the Fund Value and deducted before calculating the Net Asset Value (NAV) of the fund.

Fund Switch

Switching between funds is allowed under the Investor Selectable Portfolio Strategy. Policyholders can opt for this Portfolio Strategy at the commencement of the policy or can switch to this Portfolio Strategy at any subsequent policy anniversary. You have the flexibility to switch units between your investment funds according to your risk appetite and investment decisions, by giving written notice to the Company. Fund as on that date will be switched to the other Fund/s, as specified by the Policyholder. You can make unlimited free switches during the policy term.

In - force

In-force Policies are valid/active policies for which the full premiums as on date are paid.

Lapse

The termination of an insurance policy due to non-payment of premium.

Mortality Charges

Depending upon the age and the amount of cover, the charges levied towards providing life insurance cover to the insured are called as Mortality Charges

Policy Administration Charges

These are the charges deducted on a monthly basis to recover the expenses of maintaining the policy including record keeping, paper work, services, etc.

Premium Allocation Charges

These charges are deducted upfront from the premium paid by the policyholder as a percentage of premium. These charges account for the initial expenses incurred by the company in issuing the policy, e.g., cost of underwriting, medicals and expenses related to distributor fees. After these charges are deducted, the money gets invested in the chosen fund.

Regular Premium

The amount payable by the policyholder at regular intervals during the Premium Paying Term, and at the Premium Payment Frequency

Regular Premium Fund Value

The total number of Units pertaining to the Regular/ Limited Premium existing in each Fund under this Policy, multiplied by their respective Unit Price on the relevant date

Reinstatement

To restore the policy after the life insurance policy has lapsed.

Revival Period

As long as the policyholder pays premium on time, the policy remains in force. The policy lapses when premiums are not paid even after the completion of the grace period. Thereafter, the Life Insurance Company provides an option to the policyholder wherein he/she can make the policy in force only during a specific period after the grace period. The process is called Revival of the Life Insurance Policy or Policy Revival and the period is called Revival Period.

Rider Sum Assured

"Rider Sum Assured" means the sum assured as mentioned in the Schedule. For more details, please refer respective rider sales literature.

Rider Life Assured

"Rider Life Assured" means the person named as the Rider Life Assured in the Schedule whose life is assured under this Rider. For more details, please refer respective rider sales literature.

Rider Premium Charge

"Rider Premium Charge" means the charge deducted to provide the Rider benefit. For more details, please refer respective rider sales literature.

Rider Term

"Rider Term" means the period between the Date of Commencement of Rider and the Rider Maturity Date, as mentioned in the schedule. For more details, please refer respective rider sales literature.

Surrender Value

A value payable if you want to surrender the plan before a claim arises.

Settlement Option

In Unit Linked Polices, instead of taking a lump sum amount at maturity, some plans provide policyholders with the option to receive the Maturity Benefits as a structured payout (periodic instalments) over a period of 5 years after maturity. This is known as the Settlement Option.

Top Up Premium

The amount of additional premium paid over and above the Regular/ Limited Premium payable under this Policy

Top Up Premium Fund Value

The number of Units pertaining to Top Up Premium under a policy, multiplied by the respective Unit Price on the relevant valuation date

Unit Price

Market value of investment held by the fund plus value of current assets less value of current liabilities and provisions, if any, divided by number of units existing on Valuation Date. This calculation will be done before creation / redemption of units.

Life Insurance for Life Goals Zp

A traditional life insurance plan only protects your family against the financial dangers posed by unforeseen death. But life insurance can be much more than a simple shield against financial hardship.

We all have some financial goals that we would like to reach in our lifetimes. These include buying a house, owning a car, getting our children settled, and having a comfortable retirement. Plans that combine the protection of life insurance with the growth of investment can help you reach all these goals, so that none of your dreams remain unfulfilled.

Life Insurance for Life Goals

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#1Top Riser Brand Amongst ‘Top 75' most valuable Indian Brands 2022¹
One of the most Trusted Brand²
Claims Settlement Ratio 99.02%^~
1 Day Claim Approval⁷
Solvency ratio of 581%^
AAA; Stable Rating by CARE^$
Claim deposits via electronic transfer to make process faster
` 85,623 Crore Total Assets Under Management (AUM)^**
2.87 Crore number of lives covered^#
Our Priority is not to sell Life Insurance, it is to serve you in the fastest & most convenient manner when you need us.

~Individual Claims Settlement Ratio for FY 2021-2022

**All figures as on 31 March 2022

^Solvency ratio 581% as at 31 March 2022 against IRDAI mandated 150%

^#Individual & Group

¹ Report published by Kantar BrandZ India 2022

²Survey conducted by brand equity – Nielsen in March 2020

⁷95.49% of non-investigative individual claims approved in one working day for FY 2021-22. 1 day is counted from date of intimation of claim before 3 PM on a working day (excluding Non-NAV days for ULIP) at Bajaj Allianz Life offices

^$For details refer to press release published by CARE

Life insurance policy offers you tax saving benefits under section 80C of the Income Tax Act, 1961. Under this Act, the premiums paid towards a life insurance policy are allowed as tax deductions from your taxable income up to the tune of INR 1.5 lacs every year. The payout of a life insurance policy, if any, may also be exempt from taxation.

With a life insurance policy you stand to receive two loan-related benefits. The first is that if you meet with an untimely demise, your life insurance plan will safeguard your loved ones from any mortgages you may have, such as home loans, etc.

In case of a financial crunch, instead of surrendering your policy mid-way through your goal realization, you can easily avail loans by putting your life insurance policy up as a collateral. You can take a loan against the surrender value of your life insurance policy. This is applicable for certain types of Life Insurance products.

Some life insurance plans also provide as a useful investment and compulsory savings instrument. They allow for long term capital accumulation and appreciation whilst also protecting your family members from the ups and downs in life with tax benefits. Everybody has life goals and Bajaj Allianz Life Insurance is here to help you achieve them.

A life insurance policy can also serve as an effective tool that aids in your financial planning at every stage of your life goal. For example, with a child life insurance plan, you can plan for your children's upbringing, their education and even their marriages, right from the day they're born.

GLOSSARY - PULL SMS TABLE!
1	For Callback for service related queries	SUPPORT<space>POLICY NO	8108222251
2	For Callback for renewal premium payment related queries (From Registered Mobile Number)	RENEW<space>POLICY NO
3	For Branch Address	BRANCH<space>PIN CODE
4	For Callback for Reinvestment related queries (From Registered Mobile Number)	REINVESTMAT<space>POLICY NO
5	For Fund Value of Policy (From Registered Mobile Number)	FV<space>POLICY NO
6	For Account Statement (From Registered Mobile Number)	ACCSTMT<space>POLICY NO
7	To Update Email Address (From Registered Mobile Number)	EREG<space>Unique ID*<space>DOB of policyholder in DDMMYYYY<space>email id
8	For Callback for queries related to fund switching	FSWITCH<space>POLICY NO
9	For IT Certificate (From Registered Mobile Number)	TAXCERT<space>POLICY NO
10	For Claim status	CLAIM<space>POLICY NO

GLOSSARY - PULL SMS TABLE!

No.

Service

Type Keyword

Send To

For Callback for service related queries

SUPPORT<space>POLICY NO

8108222251

For Callback for renewal premium payment related queries (From Registered Mobile Number)

RENEW<space>POLICY NO

For Branch Address

BRANCH<space>PIN CODE

For Callback for Reinvestment related queries (From Registered Mobile Number)

REINVESTMAT<space>POLICY NO

For Fund Value of Policy (From Registered Mobile Number)

FV<space>POLICY NO

For Account Statement (From Registered Mobile Number)

ACCSTMT<space>POLICY NO

To Update Email Address (From Registered Mobile Number)

EREG<space>Unique ID*<space>DOB of policyholder in DDMMYYYY<space>email id

For Callback for queries related to fund switching

FSWITCH<space>POLICY NO

For IT Certificate (From Registered Mobile Number)

TAXCERT<space>POLICY NO

For Claim status

CLAIM<space>POLICY NO

GLOSSARY - PULL SMS TABLE!
1	For Callback for service related queries	SUPPORT<space>POLICY NO	8108222251
2	For Callback for renewal premium payment related queries (From Registered Mobile Number)	RENEW<space>POLICY NO
3	For Branch Address	BRANCH<space>PIN CODE
4	For Callback for Reinvestment related queries (From Registered Mobile Number)	REINVESTMAT<space>POLICY NO
5	For Fund Value of Policy (From Registered Mobile Number)	FV<space>POLICY NO
6	For Account Statement (From Registered Mobile Number)	ACCSTMT<space>POLICY NO
7	To Update Email Address (From Registered Mobile Number)	EREG<space>UNIQUE ID as printed on policy bond<space>DOB of policyholder in DDMMYYYY<space>email id
8	For Callback for queries related to fund switching	FSWITCH<space>POLICY NO
9	For IT Certificate (From Registered Mobile Number)	TAXCERT<space>POLICY NO
10	For Claim status	CLAIM<space>POLICY NO

GLOSSARY - PULL SMS TABLE!

No.

Service

Type Keyword

Send To

For Callback for service related queries

SUPPORT<space>POLICY NO

8108222251

For Callback for renewal premium payment related queries (From Registered Mobile Number)

RENEW<space>POLICY NO

For Branch Address

BRANCH<space>PIN CODE

For Callback for Reinvestment related queries (From Registered Mobile Number)

REINVESTMAT<space>POLICY NO

For Fund Value of Policy (From Registered Mobile Number)

FV<space>POLICY NO

For Account Statement (From Registered Mobile Number)

ACCSTMT<space>POLICY NO

To Update Email Address (From Registered Mobile Number)

EREG<space>UNIQUE ID as printed on policy bond<space>DOB of policyholder in DDMMYYYY<space>email id

For Callback for queries related to fund switching

FSWITCH<space>POLICY NO

For IT Certificate (From Registered Mobile Number)

TAXCERT<space>POLICY NO

For Claim status

CLAIM<space>POLICY NO

Calling From	Phone Number (Toll Free)
AUSTRALIA	80037371371
CANADA
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BRUNEI	8014605
INDONESIA	0018030160202
JORDAN	080023194
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UNITED STATES	18339680951
Calling us from INDIA	18002097272
Rest of the World	+912067871700 (Call charges apply)

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Disclaimer

Bajaj Allianz Life Assured Wealth Goal - Second Income

Defer your Income:

Return of premium:

Choice of Income Payout Date:

Receive guaranteed* income for up to 30 years:

Entry Age

For PPT - 5 years

For PPT - 7/8/10/12 years

Maturity Age

Minimum 35 and Maximum 99 years

Policy Term

Premium Payment Term (PPT)

Income Period

Premium (in Rs.)

Leaflet

Policy Document

Product Presentation

Avinash, 35 years old

Maturity Benefit

Death Benefit