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Disclaimer: Returns are 10 year compounded annualised growth rate (CAGR) as on 20/02/2018 (DD/MM/YYYY).
Past performance is not indicative of future performance. Star rating is Overall Rating as on February 2024.

Disclaimer: Returns up to 1 year are absolute and more than 1 year are compounded annualized growth rate (CAGR) as on 20/02/2018 (DD/MM/YYYY).
Past performance is not indicative of future performance. Star rating is Morning Star Overall Rating as on February,2024.

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ULIP Plan For All Your Life Goals - Bajaj Allianz Life Goal Assure II

Bajaj Allianz Life Goal Assure II is a unit-linked non-participating individual life savings insurance plan.

Each Life Goal achieved throughout LIFE’s journey is unforgettable. From receiving your first salary to getting married, the first cry of your child to buying your dream home and entering your golden years; each of these ‘once in a lifetime’ experiences make your life journey memorable.

It’s human nature to protect what we value the most and what’s more valuable than these life goals itself?  You can’t afford to go wrong when it comes to planning for one’s Life Goals...can you imagine falling short of funds when it comes to your child’s education or reaching your own retirement corpus target!!

Bajaj Allianz Life Insurance Company Ltd. presents to you Bajaj Allianz Life Goal Assure II, a life goal based, individual, Unit Linked Insurance Plan that offers you the opportunity to plan for your ‘once-in-a-lifetime’ experiences with Zero worries. It comes with Loyalty Additions1 payable from the 6th Year and Fund Boosters payable at maturity. It also returns the mortality charges on Policy maturity thereby assuring you maximized returns on your savings while also offering protection from Day 1.

1Loyalty additions are payable only for premium of Rs 5 lakhs and more and wherein the policy term is 10 years and more.

Return of Mortality Charge

A first-of-its-kind initiative where, we return the entire mortality charges or life cover charges, deducted throughout the policy term at the time of maturity.

Return Enhancer

Take death or maturity amount in instalments and continue to stay invested to further increase returns on your investments.

Flexibility to adapt in keeping with your life situation

Alter premium payment terms after the end of the 5th policy year and decrease sum assured as per your changing life circumstances.

Four portfolio strategies

Choose from four different investment strategies geared to help you meet your life goals based on your risk appetite and investment approach/philosophy.

Choice of Sixteen funds

Sixteen funds to choose from to suit your investment needs.

Loyalty additions

Bajaj Allianz Life Goal Assure II ULIP plan provides more value for staying invested by allocating a percentage of annualized premium from sixth year onwards. This feature is applicable only when annualized premium is  `5 lakh or more and policy term is 10 years or more.

Fund Booster

Payable only when the policy term is 10 years or more, Fund Booster will be added to the regular premium fund value to enhance your returns from your investments.

Avail Family Benefit:

Get an additional benefit at Maturity, if any of your family member(s)^ is an existing customer of Bajaj Allianz Life Insurance Co. Ltd.

^Family member shall be defined as spouse, children, brothers, sisters, grandchildren, parents, parents in-laws; and will be available to family members of existing customers including who have matured policies.

Entry Age

Minimum age is 0 years

In case of minor life, the risk cover will commence immediately on date of commencement of Policy and the policy will vest on the attainment of majority (age 18 years)

Maximum age is 60 years

Maturity Age

Maximum age of maturity 75 years

Policy Term

5 / 10 / 15 / 20 years

Premium Payment Term (PPT)

Premium Paying Term

Policy term

5 years

5 years

5, 7, 10 years

10 years

5, 7, 10, 15 years

 15 years

5, 7, 10, 15, 20 years

 20 years

Minimum Premium (Modal Premium & Top-up)

Frequency

Premium (in `)

Yearly

` 36,000

Half-Yearly

` 18,000

Quarterly

` 9,000

Monthly

` 3,000

Top-up

` 5,000

Quarterly & Monthly Premium payment frequency will be available under auto-debit options as approved by RBI

Premium Payment Frequency

Yearly, Half-yearly, Quarterly and Monthly

Minimum Sum Assured

7 times Annualized Premium

Maximum Sum Assured

X * Annualized Premium, where X is based on age at entry and Policy term as mentioned below. For Annualized Premium of ` 36,000 to ` 4,99,999 :

Policy Term(in years) / Age at entry (in years)

0-35

36-40

41-44

45-50

51-60

5 & 10

10

15 & 20

15

15

15

10


For Annualized Premium of ` 5 Lakh & above :

Policy Term (in years)  / Age at entry (in years) 

0-35

36-40

41-44

45-50

51-60

5 & 10

10

15 & 20

20

20

20

10

Maximum & Minimum Sum Assured on Top up Premium

1.25 times Top-Up Premium

Age calculated is age at the last birthday

Prevailing Sum Assured is based on the prevailing Annualized Premium and applicable Sum Assured multiplier

How do ULIPs work?

Unit linked Insurance plan are packed with the dual powers of Investment and Insurance.
Your ulip offers market linked returns and life cover

  • Step 1

    select-a-ulip

    Select a ULIP

  • Step 2

    pay-the-premium

    Pay the premium

  • Step 3

    look-appropriate-channel

    Premium allocation charge levied

  • Step 4

    net-investible-premium

    Net investable premium

  • Step 5

    your-money-is-invested

    Your money is invested in fund choosen by you

  • Step 6

    returns-accrued-in

    Returns accrued in the policy fund value

Other charges applicable are mortality charges, fund management charges and policy admin charges

Six Reasons to invest in Bajaj Allianz Life Goal Assure II

In Bajaj Allianz Life Goal Assure II, premium paid by you, are invested, as per your chosen portfolio strategy across the various applicable funds. The units are allocated at the prevailing Unit Price of the fund. The mortality charge and policy administration charge are deducted monthly through cancellation of units. Fund management charge is adjusted in the Unit Price.

Alok, 35 years old

Alok is 35 years old and and has taken a Bajaj Allianz Life Goal Assure II Policy for which he is paying a Premium of Rs. 50,000 p.a. for a payment term of 10 years with a Sum Assured of Rs. 5 Lakhs. He has chosen a Policy term of 15 years.  

  • Maturity Benefit
  • Death Benefit
  • Investment Strategy

To achieve his Life Goal, Alok invested ₹ 50,000 per year for 10 years

  • Sample Illustration

On the maturity date, his maturity benefit, based on the assumed investment returns, are as per the table given below :

At Assumed Return#

Fund Booster
(in ₹)

Return of Mortality Charge
(in ₹)

Total Maturity Benefit (Fund Value)#
(in ₹)

@8%

20,000

2,166

9,70,742

@4%

20,000

2,499

6,50,581

#This illustration is considering investment in "Pure Stock fund II" and Goods & Service tax of 18%.

The returns indicated at 4% and 8% are illustrative and not guaranteed and do not indicate the upper or lower limits of returns under the policy. The benefit amount indicated is a non-guaranteed illustrative figure and is subject to policy terms and conditions.

In case of his unfortunate death in the 12th policy year, the death benefit, based on the assumed investment returns, are as per the table given below:

  • Goal Assure

At Assumed Return#

Death Benefit# (in ₹)

@8%

` 7,90,919

@4%

` 5,87,241

 

The death benefit is subject to the guaranteed benefit, which is 105% of the total premiums paid, till the date of death.

#This illustration is considering investment in "Pure Stock fund II" and Goods & Service tax of 18%.

The returns indicated at 4% and 8% are illustrative and not guaranteed and do not indicate the upper or lower limits of returns under the policy. The benefit amount indicated is a non-guaranteed illustrative figure and is subject to policy terms and conditions.

Alok has four investment strategies to choose from:

  • 1

    Investor selectable portfolio strategy

    Policyholder can allocate the premiums based on his/her personal choice among the 16 funds & to suit his/her investment needs. Please refer to Sales literature available on our website for more details.

  • 2

    Wheel of life portfolio strategy

    At different Life stages, everyone has different financial goals and therefore the investment strategy needs to be realigned to the same. Once this portfolio is chosen, basis years to maturity the premium paid and the fund value will be allocated to various funds (namely Bluechip Equity Fund, Equity Growth Fund II, Accelerator Mid-Cap Fund II, Bond Fund & Liquid Fund) in the proportion depending on the outstanding years to maturity. Please refer to Sales literature available on our website for more details.

  • 3

    Trigger based portfolio strategy

    This portfolio strategy is helpful in securing the gains and maintaining the asset allocation. One can opt for this strategy at the commencement of the policy only. Premiums will be allocated in two funds Equity Growth Fund II (an equity oriented fund) & Bond Fund (a debt oriented fund) at 75:25 ratio and the same will be re-balanced/re-allocated based on a pre-defined trigger event (15% upward movement in NAV (unit price) of Equity Growth Fund II) since the previous rebalancing or from the NAV (unit price) at the inception of the policy, whichever is later. On the occurrence of trigger event, the fund value in Equity Growth Fund II which is in excess of three times the fund in Bond Fund will be considered as gains and will be switched to Liquid Fund by redemption of units from Equity Growth Fund II. Please refer to Sales literature available on our website for more details.

  • 4

    Auto transfer portfolio strategy

    This portfolio strategy helps the policyholder to invest his/her money in a systematic manner over the years by automatically transferring it every month, from a low risk fund to fund (s) of his/her choice. The proportion to be switched will depend upon the number of outstanding months till the next premium due date. The strategy will not be available if the policyholder has opted for monthly mode. Please refer to Sales literature available on our website for more details.

Maturity Benefit

Under Bajaj Allianz Life Goal Assure II, the maturity benefit will be the Regular Premium Fund Value plus Top-up Premium Fund Value as on the maturity date, provided the policy is in-force.

Death Benefit

If all due Premiums are paid, then, in case of unfortunate death of the Life Assured during the Policy term, the Death Benefit payable will be:

  • Higher of, Regular Premium Prevailing Sum Assured% or Regular Premium Fund Value2
  • plus

  • Higher of, Top-up Sum Assured or Top-up Premium Fund Value3

The Death Benefit is subject to the Guaranteed Death Benefit% of 105% of the total premiums* paid, till the date of death.

All the above is paid as on date of receipt of intimation of death at the Insurance Company’s office.

The policy will terminate on the date of intimation of death of the life assured.

If settlement option is opted for at maturity, then during the subsistence of settlement period the death benefit shall be not less than the Guaranteed Death Benefit~ of 105% of the Total premiums paid including Top-Up premiums paid, if any, till the maturity date, under the policy

Note:

^Prevailing Sum Assured is Sum Assured in any year after reduction of premium or decrease of Sum Assured, if any
%The Benefit shall be reduced to the extent of the partial withdrawals made from the Regular/Limited Premium Fund during the two (2) year period immediately preceding the death of the Life Assured
*Total premiums paid shall be sum of all regular/limited and Top-Up premiums paid till date.
2Regular Premium Fund Value is equal to the total Units in respect of regular/limited premiums paid under this policy multiplied by the respective unit price on the relevant valuation date
3Top Up Premium Fund Value is equal to the total Units in respect of Top-Up premium under this policy multiplied by the respective unit price on the relevant valuation date.

Return of Mortality Charge (ROMC)

At the end of the policy term, on the maturity date, the total amount of mortality charges deducted in respect of life cover provided throughout the policy term, will be added back as ROMC, to the Regular Premium Fund Value and Top-up Premium Fund Value, as applicable. ROMC is not applicable in case of a Surrendered, Discontinued or Paid-up policy and will be payable provided all due Regular Premiums under the policy have been paid up to date.

Note:
  • Amount of mortality charge will be allocated to the fund(s) in the same proportion of the Fund Value as on the maturity date Unit Price as on the date of ROMC addition will be used for the unitisation.
  • ROMC will be excluding any extra mortality charge & or Goods & Service Tax/any other applicable tax levied on the mortality charge deducted, subject to changes in tax laws.

Fund Booster

For policies with policy term 10 years or above, on the date of maturity, Fund Booster (FB) will be added to the Regular Premium Fund Value, provided all due Regular/limited Premiums have been paid up to the date. The Fund Booster (as % of one Annualized Premium) are as below

Policy Term

Fund Booster (% of one Annualized Premium)4

5 years

Not Applicable

10 years

20%

15 years

40%

20 years

60%

4 Fund Booster is based on Annualized Premium chosen at inception of the Policy

  • The amount of FB will be added into each fund will be in the same proportion of the fund values as at the date of addition. Unit Price as on the date of Booster addition will be used for the unitisation
  • There will not be any FB w.r.t. any Top-Up premium paid.
  • No Booster will be available on a surrendered policy, a discontinued policy or a policy converted to paid-up. Fund Booster is not available for a policy with PT 5 years.

Loyalty Additions

The Company shall allocate Loyalty Additions to the Regular Premium Fund Value as percentage of one Annualized Premium from the 6th year onwards, provided all due Regular Premiums have been paid up to date. The Loyalty Additions are below:

Policy Term

Loyalty Additions (% of one Annualized Premium)5

5 years

Not Applicable

10 years

0.50%

15 years

1%

20 years

1.5%

5Loyalty Additions are based on Prevailing Annualized Premium as on date of attachment of the Loyalty Addition

  • Loyalty additions are payable only for policies where the Annualized Premium chosen at inception is Rs  ` 5 Lakhs & above and wherein the Policy term is 10 years & above. Loyalty additions is not payable for Annualized Premium chosen at inception is below  ` 5 Lakhs or where the Policy term under the Policy is 5 years
  • In case the Premium(s) are un-paid and the Policy is revived during the revival period by paying all due Premiums, the Loyalty Additions due-but-not-allotted during the period the Policy was in Discontinuance will be added to the Fund as on the date of revival.
  • Amount of Loyalty Additions will be allocated in Funds in the same proportion of the Fund Value as at the date of addition.

Note:

Loyalty Additions will not be applicable for Top-up Premium paid.

Loyalty Additions will not be paid for a Surrendered, Discontinued or Policy converted to Paid-up Policy.

Family Benefit

If any of your family member is an existing policyholder of Bajaj Allianz Life Insurance Company Limited, you will be entitled to a family benefit.
The benefit will be paid to you on maturity and will be added into the regular premium fund value as a percentage of the average of your previous three years daily regular premium fund value
The percentage of family benefit will depend upon the policy term opted by you:

Policy Term

Loyalty Benefit

5 years

0.25%

10, 15 years

0.5%

20 years

1%

  • There will not be any family benefit for Top-up premiums paid
  • The amount of Family Benefit will be allocated in the funds in the same proportion of the fund values as at the date of addition.
  • Family member shall mean spouse, children, brothers, sisters, grandchildren, parents, parents in-laws; and will be available to family members of existing customers including who have matured policies
  • Unit Prices as on the date of Family Benefit addition will be used for the unitization
  • No Family Benefit will be available on the discontinuance or for policy converted to paid-up policy
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ULIP Plan For All Your Life Goals - Bajaj Allianz Life Goal Assure II

Bajaj Allianz Life Goal Assure II is a unit-linked non-participating individual life savings insurance plan.

Each Life Goal achieved throughout LIFE’s journey is unforgettable. From receiving your first salary to getting married, the first cry of your child to buying your dream home and entering your golden years; each of these ‘once in a lifetime’ experiences make your life journey memorable.

It’s human nature to protect what we value the most and what’s more valuable than these life goals itself?  You can’t afford to go wrong when it comes to planning for one’s Life Goals...can you imagine falling short of funds when it comes to your child’s education or reaching your own retirement corpus target!!

Bajaj Allianz Life Insurance Company Ltd. presents to you Bajaj Allianz Life Goal Assure II, a life goal based, individual, Unit Linked Insurance Plan that offers you the opportunity to plan for your ‘once-in-a-lifetime’ experiences with Zero worries. It comes with Loyalty Additions1 payable from the 6th Year and Fund Boosters payable at maturity. It also returns the mortality charges on Policy maturity thereby assuring you maximized returns on your savings while also offering protection from Day 1.

1Loyalty additions are payable only for premium of Rs 5 lakhs and more and wherein the policy term is 10 years and more.

Documents you’ll need before investing

Why monthly investments in ULIPs make sense?

Why monthly investments in ULIPs make sense?

READ MORE
How to tide over market volatility with ULIPs

How to tide over market volatility with ULIPs

READ MORE
4 ULIP Benefits You Can Take Advantage Of

4 ULIP Benefits You Can Take Advantage Of

READ MORE

⭐ When can I get the benefit of RoMC?

As the name suggests, Return of Mortality Charges (RoMC) returns the entire life cover charges deducted throughout the policy term at the time of maturity. It is added back to the fund value and top-up premium fund value, if applicable. All you have to do is pay your premiums on time and stay invested till the end of the policy since RoMC is not applicable in case of surrendered, discontinued or paid-up policy. 

⭐ What is Return Enhancer benefit under Settlement option?

Based on your life goals, you may want to receive the maturity benefits in instalments, instead of one single payment. This is the Settlement option available in Bajaj Allianz Life Goal Assure where you choose to receive your maturity benefit in instalments over a period of five years, During this period your fund value will continue to be invested in the fund(s) of your choice The amount paid to you in each instalment is the outstanding fund value as at that instalment date divided by the number of outstanding instalments, hiked-up by 0.5%. Therefore, each instalment is equal to (fund value/number of outstanding instalments)*1.005. This increase is referred to as Return Enhancer as it increases the returns on investments and helps you get closer to your life goals. 

⭐ What are the different funds available to the investor under the Investor Selectable Portfolio strategy?

Under Bajaj Allianz Life Goal Assure, an investor has the option of investing in eight funds under the Investor Selectable Portfolio Strategy, as per their risk appetite. These are Equity Growth Fund II, Accelerator Mid-Cap Fund II, Pure Stock Fund II, Pure Stock Fund, Asset Allocation Fund II, Bluechip Equity Fund, Bond Fund, and Liquid Fund.

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

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.

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  • #1 Top Riser Brand Amongst ‘Top 75 most valuable Indian Brands 20221
  • One of the most Trusted Brand2
  • Claims Settlement Ratio 99.04%~
  • 1 Day Claim Approval7
  • Solvency ratio of 516%^
  • AAA : Stable Rating by CARE$
  • ` 106,858 Crore Total Assets Under Management (AUM)**
  • 4.25 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 Death Claim Settlement Ratio for FY 2022-2023

**All figures as on 31 Janaury 2024

^Solvency ratio 516% as at 31 March 2023 against IRDAI mandated 150%

#Individual & Group

1Report published by Kantar BrandZ India 2022 for details click here

2Survey conducted by brand equity – Nielsen in March 2020

796.31% of non-investigative individual claims approved in one working day for FY 2022-23. 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.

*Past performance is not indicative of future performance.