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Bajaj Allianz Life POS Goal Suraksha A Non-Participating Non-linked Life Insurance Plan

  • Guaranteed maturity benefit
  • Offers Guaranteed Additions at maturity
  • Limited premium payment term
  • Option to take policy loan
  • Option to alter premium payment mode
Investment and savings to secure your family
Download Brochure 9 pages - 499 KB
Download Policy Document 9 pages - 499 KB
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Savings Plan For Your Family Goals - Bajaj Allianz Life POS Goal Suraksha

Your family's security and its future well-being is one of the most treasured dreams in your life. But when Security is backed up by a guarantee, your dream can transform into an achievable GOAL. Presenting Bajaj Allianz Life POS Goal Suraksha, an easy to buy,  non-linked, non-participating, limited premium payment, non-medical, POS endowment plan that secures you and your family against all odds with a guaranteed sum at maturity.

Bajaj Allianz Life POS Goal Suraksha is a non-linked, non-participating, limited premium payment, non-medical, POS endowment plan. The key advantages of this savings plan are:

Guaranteed maturity benefit

Offers Guaranteed Additions at maturity

Limited premium payment term

Option to take policy loan

Option to alter premium payment mode

You can customize your policy to suit your requirement in the following manner:

Choose your Premium amount

Sum Assured will be 10 times of the annualized premium

Choose your Policy Term (PT)

Choose your Premium Payment Term (PPT) from available options

Entry Age

Minimum age is 18 years

Maximum age is 55 years

Maturity Age

Minimum age of maturity 28 years

Maximum age of maturity 65 years

Policy Term (PT) & Premium Payment Term (PPT)

Policy Term

Premium Payment Term

10 years

7 years

15 years

5,7 & 10 years

Minimum Premium

Mode

Yearly

Half-Yearly

Quarterly

Monthly

Premium `

` 3,000

` 2,100

` 1,250

` 450

Maximum Premium

As per Maximum Sum Assured

Sum Assured

Minimum Sum Assured is ` 30,000

Maximum Sum Assured is ` 10,00,000

Premium Payment Frequency

Yearly, Half-yearly, Quarterly* and Monthly*

*Quarterly & Monthly premium payment frequency will be allowed only under auto-debit process (as per the approved RBI facilities)
 

Subhash is 40 years old

He is taking a Bajaj Allianz Life POS Goal Suraksha.

  • MATURITY & DEATH BENEFIT

The below table gives a illustration of different premium ticket size, policy term and premium payment term combinations along with the Death & Maturity Benefit which will be received by Subhash or his nominee(s) / beneficiaries as the case maybe.

Annualized Premium

Total Premium Paid

Premium Payment Term
(in years)

Policy Term
(in years)

Death Benefit

Maturity Benefit

Guaranteed Additions (A)

Guaranteed Maturity Benefit (B)

Total Maturity Benefit
(A)+(B)

₹ 5,000

₹ 35,000

7

10

₹ 50,000

₹ 3,050

₹ 50,000

₹ 53,050

₹ 10,000

₹ 70,000

₹ 1,00,000

₹ 6,100

₹ 1,00,000

₹ 1,06,100

₹ 15,000

₹ 1,05,000

₹ 1,50,000

₹ 9,150

₹ 1,50,000

₹ 1,59,150

₹ 25,000

₹ 1,75,000

₹ 2,50,000

₹ 15,250

₹ 2,50,000

₹ 2,65,250

₹ 50,000

₹ 3,50,000

₹ 5,00,000

₹ 30,500

₹ 5,00,000

₹ 5,30,500

₹ 5,000

₹ 25,000

5

 

15

 

₹ 50,000

₹ 5,250

₹ 50,000

₹ 55,250

₹ 10,000

₹ 50,000

₹ 1,00,000

₹ 10,500

₹ 1,00,000

₹ 1,10,500

₹ 15,000

₹ 75,000

₹ 1,50,000

₹ 15,750

₹ 1,50,000

₹ 1,65,750

₹ 25,000

₹ 1,25,000

₹ 2,50,000

₹ 26,250

₹ 2,50,000

₹ 2,76,250

₹ 50,000

₹ 2,50,000

₹ 5,00,000

₹ 52,500

₹ 5,00,000

₹ 5,52,500

₹ 5,000

₹ 35,000

7

15

₹ 50,000

₹ 19,400

₹ 50,000

₹ 69,400

₹ 10,000

₹ 70,000

₹ 1,00,000

₹ 38,800

₹ 1,00,000

₹ 1,38,800

₹ 15,000

₹ 1,05,000

₹ 1,50,000

₹ 58,200

₹ 1,50,000

₹ 2,08,200

₹ 25,000

₹ 1,75,000

₹ 2,50,000

₹ 97,000

₹ 2,50,000

₹ 3,47,000

₹ 50,000

₹ 3,50,000

₹ 5,00,000

₹ 1,94,000

₹ 5,00,000

₹ 6,94,000

₹ 5,000

₹ 50,000

10

15

₹ 52,500

₹ 40,200

₹ 50,000

₹ 90,200

₹ 10,000

₹ 1,00,000

₹ 1,05,000

₹ 80,400

₹ 1,00,000

₹ 1,80,400

₹ 15,000

₹ 1,50,000

₹ 1,57,500

₹ 1,20,600

₹ 1,50,000

₹ 2,70,600

₹ 25,000

₹ 2,50,000

₹ 2,62,500

₹ 2,01,000

₹ 2,50,000

₹ 4,51,000

₹ 50,000

₹ 5,00,000

₹ 5,25,000

₹ 4,02,000

₹ 5,00,000

₹ 9,02,000

Maturity Benefit

On the maturity date, if all premiums are paid, the Guaranteed Sum Assured on Maturity plus Guaranteed Additions, under your policy, will be paid and the policy will terminate.

Death Benefit

In case of unfortunate death of the Life Assured due to accident during the waiting period$ or in case of death of the Life Assured after the waiting period$ due to any cause, the death benefit is payable to the nominee (s) / beneficiaries. Such death benefit is stated as Sum Assured on Death# which is as below.

Sum Assured on Death# will be higher of

  • 10 times of Annualized Premium*,
  • 105% of Total Premiums** paid as on date of death,
  • Sum Assured#,
  • Minimum Guaranteed Sum Assured in Maturity# OR
  • Any absolute amount assured to be paid on death^

In case of death of the Life Assured during the Waiting period other than due to an accident, the death benefit payable to the nominee(s) / beneficiaries will be the 100% of Total Premiums** paid till date, excluding any extra premium & Goods & Service Tax, if any.

The policy will terminate on payment of the death benefit.

The death benefit is payable provided the policy is in-force and all due premiums have been paid.

*Annualized Premium is exclusive of extra premium, loadings for modal premiums and Goods & Service Tax, if any.

**Total Premiums paid is equal to (Annualized Premium X number of years for which premiums have been paid)

#Guaranteed Sum Assured on Maturity and Sum Assured is 10 times the Annualized Premium

^Any absolute amount assured to be paid on death is equal to the sum assured.

$Waiting period is the first 90 days from the date of commencement of risk. Waiting period is not applicable in case of revival.

Guaranteed Additions

On maturity date, if all due premiums have been paid, Guaranteed Additions as a multiple of one Annualized Premium will be paid along with the maturity benefit. The Guaranteed Additions payable are as per the table given below –

GA as Multiple of one (1) Annualized Premium
Age at Entry Policy Term / Premium Payment Term
10 years / 7 years 15 years / 5 years 15 years / 7 years 15 years / 10 years
18 – 24 years 0.71 1.28 4.71 9.43
25 – 34 years 0.66 1.13 4.15 8.59
35 – 45 years 0.61 1.05 3.88 8.04
46 – 55 years 0.55 0.95 3.32 7.76

 

Guaranteed additions will not be payable in case of a lapsed or paid-up policy.

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Life Insurance Glossary

Annualized Premium

“Annualised Premium” means the total amount of Regular Premiums payable in a Policy Year, after due consideration of applicable premium factors for various Premium Payment Frequency. In this calculation, any extra premium, Rider Premium or applicable taxes are excluded.

Grace Period

“Grace Period” means a period of fifteen (15) days for a monthly Premium Payment Frequency and thirty (30) days for other than monthly Premium Payment Frequency, from the due date of the Regular Premium payment.

Life Assured

“Claimant” means the Life Assured (if alive) or Policyholder (if different from the Life Assured) or the assignee or the Nominee or the legal heirs of Policyholder/Nominee(s) to whom the Policy Benefit will be payable.

Maturity Date

“Maturity Date” means the date specified in the Schedule on which the Maturity Benefit as per policy document shall become payable to the Policyholder

Nominee

“Nominee” means the person who has been nominated in writing to the Company by the Policyholder, who is entitled to receive the Death Benefits under the Policy as mentioned in Policy Document

Paid up Sum Assured on Death

“Paid-up Sum Assured on Death” is the reduced value of the Sum Assured on Death arrived at by multiplying the Sum Assured on Death with the proportion of the number of Regular Premiums paid to the total number of Regular Premiums payable under the Policy.

Paid up Sum Assured on Maturity

If the Regular Premiums due for first three (3) Policy Years are paid and subsequent Regular Premiums are not paid, the Policy will, immediately and automatically, be converted to a paid-up Policy on the expiry of the Grace Period as per the conditions stated in the policy document.

Paid up Sum Assured

“Paid-up Sum Assured” is the reduced value of the Sum Assured arrived at by multiplying the Sum Assured with the proportion of the number of Regular Premiums paid to the total number of Regular Premiums payable under the Policy

Policyholder

“Policyholder” means the adult person named in the Schedule who has concluded the Policy with the Company

Rider Benefit

“Rider Benefit” means the benefit payable under the Rider on the happening of the contingent event covered under the Rider. For more details, refer to the Policy Document

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

Rider Premium

“Rider Premium” means the amount exclusive of applicable taxes, if any, payable by the Policyholder at regular intervals during the Rider Premium Paying Term, in amount (along with and as part of the Regular Premium) and at the Premium Payment Frequency.

Rider Premium Paying Term

“Rider Premium Paying Term” means the period specified in the Schedule during which the Rider Premium is payable.

Rider Term

"Rider Term” means the period between the Date of Commencement of Rider and the Rider Maturity Date, as mentioned in the Schedule

Sum Assured

“Sum Assured” is the amount as specified in the Schedule under the Policy.

Surrender Benefit

“Surrender Benefit” means the benefit, if any, payable on the surrender of the Policy. For more details refer to the Policy Document

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  • Claim deposits via electronic transfer to make process faster
  • Solvency ratio of 767% **
  • Our Priority is not to sell Life Insurance, it is to serve you in the fastest & most convenient manner when you need us.

**All figures as on 31 December, 2018.

"What are your life goals?" is one of the most common questions that comes to one's mind while taking any step further in Life. Most just answer it by laughing it off or saying we will think about it.

A key reason that they feel this way is that they haven't spent enough time thinking about what they want from their life, and haven't set themselves any goals.

Goals keep changing as per different life stages and one has to plan meticulously for their future.

Deciding your Life Goal is all about planning to "Live your life, your way". There could be various Life Goals such as trotting the globe, becoming a food blogger to starting your own business, owning your dream house, or planning your Childs education or marriage.

L"IF"E is full of IF's... and one needs to plan to secure their loved ones and themselves against the Ifs of Life. When you opt for a life insurance plan, you transfer your family's financial risks in case of any unfortunate event to the life insurer. This allows you and your loved ones to live life fearlessly. Life Insurance protects your family's financial wellbeing from the consequences of living without an income.

When you purchase a life insurance policy, one of your major life goal gets fulfilled i.e. you purchase a sense of security. A safety net that cushions your family members from the financial impact of your sudden absence and ensures that any outstanding debts that were incurred during your lifetime don't fall upon your loved ones.

Having life goals is an important aspect in each one's life. One needs to be SMART and plan out well in advance to ensure nothing goes wrong in the future. Life insurance offers a range of products that could come in handy for meeting your financial goals.

To ensure that it is not too late, get your #LifeGoals insured with us today! It will help you smile in the face of tomorrow's uncertainties and let you live a worry free life!