What is ROMC benefit?

Bajaj Allianz Life Goal Based Saving III comes with the benefit of Return of Mortality Charge (ROMC). As the name suggests, Return of Mortality Charges (RoMC) returns the entire life cover charges deducted throughout the policy term multiplied by a factor (dependent on premium band of the policy as mentioned below) at the time of maturity. It is added back to the regular/limited premium fund value and top-up premium fund value, as applicable. All you have to do to get the benefit 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. This benefit is also not available under single premium option.

How does the switching between the funds work under this policy?

Bajaj Allianz Life Goal Based Savings III allows you to make unlimited free switches during the policy term to optimize your returns. The minimum amount for switching is Rs 5,000 or the value of units in the fund to be switched from, whichever is lower. The company will facilitate the switch by redeeming units from the existing fund and then allocating new units to the fund opted for at their unit price.

What is the Death Benefit under this plan?

In the unfortunate scenario of the policyholder‘s death, the nominee will get the Death Benefit as a lump sum. It includes higher of the regular/single premium sum assured or regular/single premium fund value, plus the higher of top-up premium sum assured or top-up premium fund value, as applicable. The Death Benefit will not be less than the Guaranteed Death Benefit of 105% of the total premiums paid including the top-up premiums paid, if any, till the date of death.

Claim Settlement Ratio of 99.23%^~

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IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICY HOLDER.

Bajaj Allianz Life Goal Based Saving III

A Unit-linked Non-Participating Individual Life Savings Insurance Plan

Choice of regular, limited and single premium payment option

Additional premium allocation^* of up to 3% of each modal Premium paid by you in the first policy year

Return of mortality charges at maturity (ROMC) in case of Regular / Limited Premium policies

Option to make partial withdrawals from the funds

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Regular/Limited Premium Option
Single Premium Option

Overview
Key Advantages
How ULIPs Work
Eligibility
Downloads
Policy Benefits
Sample Illustration

Bajaj Allianz Life Goal Based Saving III, a unit-linked plan designed to offer wealth accumulation through market-linked returns and protection against uncertainties in life.
The plan is loaded with features like - Additional allocation* of Premium in the first year, up to 125% Return of Life Cover charges, choice of wide range of funds and option to take death or maturity in instalments to make the most of your savings

Additional Allocation*

Additional premium allocation of up to 1% of each modal Premium paid by you in the first policy year

*Please refer to the Additional Allocation section

Return of Mortality charges

Up to 125% of Return of mortality charges at maturity (ROMC)

Wide range of funds

Choose from a wide range of diverse funds with unlimited free switching

Charges

No premium allocation or policy administration charge, you’ll only incur fund management charge and mortality charge for life cover

Liquidity

Easy liquidity through partial withdrawal after 5 policy years

Settlement Option With Return Enhancer

Option to take maturity benefit or death benefit in instalments with Return Enhancer

How do ULIPs work?

In Bajaj Allianz Life Goal Based Saving III, Premiums paid by you, are saved, as per your chosen portfolio strategy across the various applicable Funds. The units are allocated at the prevailing Unit Price/NAV of the Fund. The Mortality charge is deducted monthly through cancellation of units. Fund management charge is adjusted in the Unit Price/NAV.

Select a ULIP

Pay the premium

Applicable charges levied

Net investable premium

Your money is invested in fund choosen by you

Returns accured in the policy fund value

Entry Age

Minimum age is 0 years

Risk cover (including for minor lives) will commence immediately on the date of commencement of risk in the policy. In the case of a minor life, the policy will vest on the life assured on the earlier of attainment of age 18 years last birthday or maturity date.

Maximum age is 60 years

Maturity Age

Minimum age at maturity

18 years

Maximum age at maturity

75 years

Policy Term

10 / 15 / 20 Years

Premium Payment Term (PPT)

PT (in years)	10	15	20
PPT( in years)	5, 7, 10	5, 7, 10, 15	5, 7, 10, 15, 20

PPT - Premium Payment Term | PT - Policy Term
Minimum and Maximum PT available will be subject to the respective minimum and maximum maturity age

Minimum Premium ( Regular/Limited Premium & Top-up)

Frequency	Premium (in ₹)
Yearly	₹ 12,000
Half-Yearly	₹ 6,000
Quarterly	₹ 3,000
Monthly	₹ 1,000
Top-up	₹ 5,000

Maximum Premium

As per the Maximum Sum Assured and Board approved Underwriting Policy (BAUP)

Premium Payment Frequency

Yearly, Half-yearly, Quarterly and Monthly

Minimum & Maximum Sum Assured

Premium Paying Option	Minimum Sum Assured	Maximum Sum Assured³
Regular/Limited Premium	Age at entry< 50 Y: 7 Times Annualized Premium Age at entry>= 50 Y: 5 Times Annualized Premium	10 Times Annualized Premium
Top up Premium	Age at entry< 50 Y: 1.25 Times Single Premium Age at entry>= 50 Y: 1.10 Times Single Premium	1.25 Times Topup Premium

Premium Paying Option

Minimum Sum Assured

Maximum Sum Assured³

Regular/Limited Premium

Age at entry< 50 Y: 7 Times Annualized Premium

Age at entry>= 50 Y: 5 Times Annualized Premium

10 Times Annualized Premium

Top up Premium

Age at entry< 50 Y: 1.25 Times Single Premium

Age at entry>= 50 Y: 1.10 Times Single Premium

1.25 Times Topup Premium

³Maximum Sum Assured will be as per the board approved underwriting policy (BAUP)

- Age calculated is age at the last birthday.

- Risk cover (including for minor lives) will commence immediately on the date of commencement of risk in the policy. In the case of a minor life, the policy will vest on the life assured on the earlier of attainment of age 18 years last birthday or maturity date.

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

Brochure

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Policy Document

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Customer Information Sheet

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Maturity Benefit

On maturity of the policy, you will receive the Fund Value, if all due premiums are paid up to date. You will also have an option to receive the Maturity Benefit as lump-sum or as a systematic payout for a maximum of five years under Settlement Option.

Death Benefit

In case of unfortunate death of the Life Assured during the Policy term, if all due premiums are paid up to date, the Death Benefit payable will be:

Higher of, Prevailing Sum Assured^{^} or Regular Premium /Single Premium Fund Value
plus

Higher of, Top-up Sum Assured or Top-up Premium Fund Value

The Death Benefit is subject to the Guaranteed Death Benefit^% of 105% of the Total Premiums paid including any top Premiums, 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 risk cover will terminate on the date of intimation of death of the life assured.

Note:

^%Sum Assured/Paid up sum assured: The Benefit shall be reduced to the extent of the partial withdrawals (systematic and non-systematic) made from the Regular/single Premium Fund during the two (2) year period immediately preceding the death of the Life Assured

^{^}Prevailing Sum Assured is Sum Assured in any year after the latest reduction of premium, if any.

Additional Allocation

During the first policy year:

In case of limited/regular premium payment policies, 3% of each modal Premium paid by you will be added to your Regular Premium Fund Value at the time of allocation of each premium
In case of single premium policies, 1% of Single Premium by you will be added to the Single Premium Fund Value at the time of allocation of the single premium

Note:

i) The Additional Allocation will be added into each fund and will be as per the premium apportionment percentages as on the date of addition. Unit Price as on the date of addition will be used for the unitization.

ii) There will be no additional allocation with respect to any Top-Up premium paid.

iii)There will be no Additional Allocation in the 2nd policy year and thereafter.

Return of Mortality Charge (ROMC) - For Regular /Limited Premium Option Only

At the end of the policy term, on the maturity date, if all premiums under the policy are paid up to date, the total amount of all mortality charges deducted throughout the policy term,

a. With respect to regular/limited premium, multiplied by a factor (dependent on premium band of the policy as mentioned below) will be added into the Regular Premium Fund Value

Annualized Premium	Factor
Less than 1,20,000	100%
1,20,000 to less than 2,40,000	110%
2,40,000 and above	125%

b. respect to Top-Up Premium, if any, 100% of all mortality charges deducted throughout the policy term will be added to the Top-Up Premium Fund Value

i) The above will exclude any extra mortality charge and/or any GST with respect to mortality charge deducted.

ii) If the option to reduce Regular/Limited Premium is chosen at any time during the policy term, the factor as per the above table, used to arrive at the Return of Mortality charge amount, will be as based on the reduced Annualized Premium

iii) The Return of Mortality Charge (ROMC) will be added into each fund and will be in the same proportion of the Fund Value as on the date of addition. Unit Price as on the date of addition will be used for the unitisation.

iv) No ROMC will be available in a surrendered policy, a discontinued policy or a policy converted to paid-up.

v) Return of Mortality Charge is not available with respect to Single Premium or the Top-up Premiums, if any, paid in a single premium payment policy.

Maturity Benefit
Death Benefit
Investment Strategy

Aman, a 35 years old Product Manager has invested in Bajaj Allianz Life Goal Based Saving III. He has invested a premium of Rs.6,00,000 p.a. for a premium paying term of 10 years. He has opted for a sum assured of Rs.60 Lakhs. He has chosen a Policy term of 15 years. The total premium paid by Aman is 60 Lakhs. Let's see the benefits available under the variant.

Aman is 35 years old

To achieve his Life Goal, Aman invested ₹ 6,00,000 per year for 10 years

Policy Term: 15 years

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

At Assumed Return^#	Additional Allocation (in ₹)	Return of Mortality Charge (in ₹)	Total Maturity Benefit (Fund Value) (in ₹)
@8%	18,000	38,560	1,16,44,951
@4%	18,000	44,241	77,42,393

^# The above illustrations are considering investment is in the “Pure Stock Fund II”& Goods & Service tax of 18%

The benefit amount indicated is a non-guaranteed illustrative figure and is subject to Policy terms and conditions.

All the figures are in rupees. 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.

Aman, 35 years old

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

Policy Term: 15 years

At Assumed Return^#	Death Benefit (in ₹)
@8%	₹ 96,47,493
@4%	₹ 71,65,970

The Death Benefit is subject to the minimum of the Guaranteed Death Benefit, which is 105% of the Total Premiums paid, till the date of death.

^# The above illustrations are considering investment is in the “Pure Stock Fund II”& Goods & Service tax of 18%

The benefit amount indicated is a non-guaranteed illustrative figure and is subject to Policy terms and conditions.

All the figures are in rupees. 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.

Aman, 35 years old

Bajaj Allianz Life Goal Based Saving III provides you an opportunity to choose from a wide range of thoroughly curated funds to suit your investment needs. Under this strategy, you can choose to save your money in any of the funds in proportion of your choice.

Overview
Key Advantages
How Ulips Works
Eligibility
Downloads
Policy Benefits