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In this policy, the investment risk in investment portfolio is borne by the policy holder.

Bajaj Allianz Life LongLife Goal A Unit-Linked Non-Participating Whole Life Insurance Plan

Premium starts at

`5000 / month

  • Retired Life Income

  • Whole of Life Insurance Cover
  • Loyalty additions
  • Periodical Return of Life Cover charges ULIP
  • Tax Benefits under Section 80C & 10(10D)$

ULIP investment plan with retired life income benefit
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Your investment details

Monthly
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10 Years
10 Years

Your estimated returns##

  • `540525

  • `250425

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##The benefit amounts indicated are non-guaranteed illustrative figures and subject to policy terms and conditions and is considering investment in "Bond Fund" (SFIN: ULIF02610/07/06BONDFUNDLI116). The returns indicated at 4% and 8% are illustrative and do not indicate the upper or lower limits of returns under the policy. The returns generated are on the basis of the data inputted by you and is being provided to you solely for your reference purpose only. Please seek advice from your personal investment consultant before making any investment decisions.

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  • Sample Illustration
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Disclaimer: Returns are 5 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 Morning Star Overall Rating as on April,2019.

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 April,2019.

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Early Retirement Whole Life ULIP - Bajaj Allianz Life LongLife Goal

You are constantly working towards achieving life goals and your lifestyle improves every time you cross a new milestone. You want to maintain the same way of life during your golden years as well. More importantly, most of us have several goals like traveling to exotic locations, safeguarding your child's future, enhancing your family's lifestyle or maybe, retiring early! All these life goals need to be planned for. Herein one can opt for a ULIP plan that provides for financial security as a Retired Life Income (RLI).

To ensure a comfortable and worry-free retirement, when your regular income stops, requires you to make smart investment choices during your early working years. Bajaj Allianz Life LongLife Goal, a non-participating, individual regular premium payment Unit Linked Insurance Plan (ULIP), is one such product. It invests your money in an investment portfolio selected by you and provides for market linked returns over long-term, to help you accumulate a healthy retirement corpus. Features such as periodic return of life cover charges i.e. mortality charges (PROMC) and loyalty additions further add to your retirement corpus taking you closer to a retired life of your dreams.

You have a unique option to receive a regular income till 99 years with return enhancer, after the Age 55 years or after 10th Policy Year, whichever is later, ensuring that your lifestyle remains unchanged, even during retirement.

Bajaj Allianz Life LongLife Goal, with regular income and life insurance cover, will turn your retirement years to the best years of your life.

Opt for Retired Life Income to meet Retirement Goals

Whole of Life Insurance Cover

Retired Life Income till age 99 years with Return Enhancer

Periodical Return Of Life Cover charges

Loyalty Additions

Loyalty Additions every year from 5th Policy Year till 25th Policy Year

Choice of 2 plan variants# : LongLife Goal without Waiver of Premium & LongLife Goal with Waiver of Premium

#Variant can only be chosen at inception. Once opted, the variant cannot be changed during the term of the Policy. Policy charges will depend upon the variant chosen.

Periodical Return of Waiver of Premium charges*

*Depending on the variant chosen

Choice of 4 investment portfolio strategies

Choice of eight (8) funds

Choose the plan Variant- LongLife Goal with Waiver of Premium OR LongLife Goal without Waiver of Premium at inception#

# Variant can only be chosen at inception. Once opted, the variant cannot be changed during the term of the Policy. Policy charges will depend upon the variant chosen.

Choose your premium amount

Premiums are allocated to your funds@ as per investment portfolio strategy chosen by You

@Allocation Charge is NIL for online sales.

The Units are allocated at the prevailing Unit Price of the fund. The mortality charge, waiver of premium charge and Policy administration charge are deducted monthly through cancellation of Units. Fund management charge is adjusted in the Unit Price.

Entry Age

Parameter

Details

Minimum Entry Age

Life Assured

0 years

Policyholder (LongLife Goal with Waiver Of Premium)

18 years

Policyholder (LongLife Goal without Waiver Of Premium)

Maximum Entry Age

Life Assured

65 years

Policyholder (LongLife Goal with Waiver Of Premium)

Policyholder (LongLife Goal without Waiver Of Premium)

No limit

Maturity Age

Minimum & Maximum age of maturity 99 years

Policy Term

99 minus Age at Entry of Life Assured

Premium Payment Term (PPT)

For age at Entry 0 to 6 years

For age at entry 7 years & above

12 to 25 years

10 to 25 years

Minimum Age at end of PPT

Life Assured

Policyholder

12 years

28 years

Maximum Age at end of PPT

Life Assured

Policyholder

75 years

Minimum Premium 

Frequency

Premium (in `)

Yearly

` 60,000

Half-Yearly

` 30,000

Quarterly

` 15,000

Monthly

` 5,000

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

Maximum Premium

No limit

As per maximum Sum Assured and Board Approved Underwriting Policy

Premium Payment Frequency

Yearly, Half-yearly, Quarterly and Monthly

Minimum & Maximum Sum Assured

Age

Higher of

Less than 45 years

10 times Annualized Premium

0.5 *(70 - Age at Entry) *Annualized Premium

Greater than or equal to 45 years

10 times Annualized Premium

0.25 *(70 - Age at Entry) *Annualized Premium

Age calculated is age at the last birthday

Risk will commence immediately on issuance of Policy. In case of a minor life, the Policy will vest on the Life Assured on attainment of age 18 years and the life assured becomes the owner of the policy. The original policyholder ceases to be the owner of the policy and the waiver of premium benefit cover will continue on his/her life.

How do ULIPs work?

Unit linked Insurance plans are packed with the dual powers of Investment and Insurance.
Your ULIP's premium is split between generating returns and providing protection.

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

Ten Reasons to invest in Bajaj Allianz Life LongLife Goal

Rahul, 35 years old

He has bought a Bajaj Allianz Life LongLife Goal ULIP plan (without Waiver of Premium variant) with the aim to accumulate funds for his retired life. He is confident that the plan will help him build a corpus for a comfortable and worry-free retirement. He is paying an annual premium of ₹ 1 lakh for a payment term of 20 years with a Sum Assured of ₹ 17.5 lakh.

He has opted for Retired Life Income option at 8% of fund value and has chosen for the payout to be received annually. Let's see what the benefits available to Rahul under the Policy are :

  • Total Survival & Maturity Benefit
  • Death Benefit
  • Investment Strategy

To achieve his Life Goal, Rahul invested ₹ 1,00,000 per year for 20 years

Payment Term: 20 years

  • Sample Illustration

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

When Retired Life Income (RLI) is opted for :

At assumed investment return3

Total of Loyalty Additions (A)

Total of Periodical Return of Mortality Charge (B)

Total of RLI from age 55 years till age 99 years(Including Return Enhancer)

Maturity Benefit at 99 years (Fund Value including A & B)

of 8%

₹ 1,02,000

₹ 14,271

₹ 92,74,687

₹ 22,33,443

of 4%

₹ 1,02,000

₹ 18,355

₹ 28,04,363

₹ 21,50,739

 

When Retired Life Income (RLI) is not opted for :

At assumed investment return3

Total of Loyalty Additions (A)

Total of Periodical Return of Mortality Charge (B)

Total Maturity Benefit at 99 years (Fund Value including A & B)

of 8%

₹ 1,02,000

₹ 14,271

₹ 6,25,80,708

of 4%

₹ 1,02,000

₹ 18,355

₹ 76,90,854

3The above illustrations are considering investment is in the "Pure Stock Fund II and Goods & Service Tax of 18%"
The returns indicated at 4% and 8% are illustrative and not guaranteed, subject to Policy Terms & conditions and do not indicate the upper or lower limits of returns under the Policy.

In case of Rahul's unfortunate death at the of age 65 years, the death benefit, based on the assumed ULIP investment returns, are as per the table given below.

Payment Term: 20 years

  • LongLife Goal

When Retired Life Income (RLI) is opted :

At assumed investment return3

Total of Loyalty Additions (A)

Total of Periodical Return of Mortality Charge (B)

Total of RLI from age 55 years till age 65 years(Including Return Enhancer)

Death Benefit at age of 65 years (Including A & B)

of 8%

₹ 1,02,000

₹ 14,271

₹ 30,31,729

₹ 33,56,558

of 4%

₹ 1,02,000

₹ 18,355

₹ 10,70,606

₹ 21,50,739

 

When Retired Life Income (RLI) is not opted for :

At assumed investment return3

Total of Loyalty Additions (A)

Total of Periodical Return of Mortality Charge (B)

Death Benefit at age of 65 years (Including A & B)

of 8%

₹ 1,02,000

₹ 14,271

₹ 77,01,398

of 4%

₹ 1,02,000

₹ 18,355

₹ 34,14,898

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

3The above illustrations are considering investment is in the "Pure Stock Fund II and Goods & Service Tax of 18%"
The returns indicated at 4% and 8% are illustrative and not guaranteed, subject to Policy Terms & conditions and do not indicate the upper or lower limits of returns under the Policy.

Rahul has four investment strategies to choose from:

Investor selectable portfolio strategy

Policyholder can allocate the premiums based on his/her personal choice among the 8 funds & to suit his/her investment needs. Please refer to Sales literature available on our website for more details.

Wheel of life portfolio strategy II

At different Life stages, everyone has different financial goals and therefore the investment strategy needs to be realigned to the same. This provides You with a "Years to maturity" based portfolio manage-ment. Once this portfolio is chosen, the premium paid and the fund value will be allocated in the funds mentioned (namely 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.

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. The trigger event is defined as 15% upward move-ment 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 the Sales literature available on our website for more details.

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 the Sales literature available on our website for more details.

Maturity Benefit

Under Bajaj Allianz Life LongLife Goal, the Maturity Benefit will be the 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: 

  • Sum Assured
  • Fund Value
  • 105% of the total premiums* paid, till the date of death

* Total premiums paid shall be (Annualized Premium * number of years for which premiums have been paid)

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

Note:

  • If death of the Life Assured occurs before attaining age 60 years, then, the Sum Assured shall be reduced to the extent of the partial withdrawals (systematic or non-systematic) made during the two year period immediately preceding the death of the Life Assured. 
  • If death of the Life Assured occurs on or after attaining Age 60 years, then, the Sum Assured shall be reduced to the extent of the partial withdrawals (systematic or non-systematic) made during the two year period before attaining Age 60 and all the partial withdrawals made after attaining Age 60 years. 
  • The Policy and all benefits will terminate on the date of receipt of intimation of death of the Life Assured.
  • Under LongLife Goal with Waiver of Premium, if waiver of premium has already been triggered under the Policy, then, the present value of future waiver of premium installments, discounted at 4% p.a. (from the date of death), shall be paid

How to exercise Retired Life Income (RLI)

You can choose for Retired Life Income, at inception or anytime during the Policy Term.

You may decide to receive the RLI –

  • At any Policy Anniversary on either attaining Age 55 years or after 10 Policy Year, whichever is later
  • As percentage of your Fund Value ranging from 0 to 12% per annum, as chosen by you, payable yearly, half yearly, quarterly or monthly

Note:

  • RLI payout is through Systematic Partial Withdrawal
  • The RLI percentage can be changed anytime during the Policy Term, even after start of RLI
  • The RLI will be paid over the remaining Policy Term or till You terminate the option, subject to availability of fund
  • The Fund Value after payment of instalment of RLI should not drop below 105% * Total Premiums paid till date. In case the amount available (Fund Value less 105% * Total Premiums paid till date) for RLI is not sufficient to meet the percentage chosen by You, an amount lower than the percentage chosen will be paid as RLI.
  • The RLI installment will be paid by redeeming Units from the funds in the same proportion as the Fund Value in each Fund and will be redeemed at the Unit Price applicable on the date of each RLI instalment
  • Each RLI installment will be hiked-up by 0.5% over and above the percentage chosen by You. The hike-up is given as an additional benefit to You. The hike-up is called the Return Enhancer
  • All charges including mortality charges (as applicable in the Policy) shall be deducted during the period
  • Partial withdrawals will be allowed anytime even during the RLI period
  • You will have the option to exit out of the RLI option at any time, even if it is after the start of the RLI. Once exited You can opt for RLI option again anytime during the Policy Term
  • Also, You will have the option to withdraw the Fund Value completely as Surrender Benefit, anytime even during RLI period.
  • In case of your policy is converted to a paid-up policy, you will still be entitled for RLI benefit, subject to above terms & conditions

Partial withdrawal

You have the option to make partial withdrawals, any time after the fifth Policy Year, subject to the following conditions:

  • The Fund Value should not fall below 105% of the Annualized Premium * PPT, after a partial withdrawal.
  • The minimum amount of partial withdrawal at any time is `5,000.
  • A partial withdrawal shall not be allowed if it will result in termination of the Policy.
  • In case of minor Life Assured, partial withdrawal is allowed after attaining Age 18 years.
  • Under Investor Selectable Portfolio Strategy, You will have the option to choose the fund You want to do partial withdrawals from. In the Wheel of Life Portfolio Strategy, Trigger Based Portfolio Strategy or Auto Transfer Portfolio Strategy withdrawal of units from each fund will be done in the same proportion as the value of the Units held in that Fund as on date of withdrawal. You will not have any choice to opt the fund from which the partial withdrawal of units is to be done
  • The Company reserves the right at any time and from time to time to vary the minimum/maximum value of units to be withdrawn, maximum number of withdrawals allowed during a Policy Year, maximum amount of total withdrawal allowed during the Policy Term, minimum time gap to maintain between two withdrawals and/or the minimum balance of value of units to be maintained after such partial withdrawals, by giving a written notice of three months in advance, subject to prior approval from IRDAI.

Periodical Return of Life Cover Charges

The total amount of life cover charges, i.e., mortality (life cover) charges deducted in the Policy, will be added back as Periodical Return of Mortality Charge or PROMC, to the Fund Value at regular intervals, as mentioned below.

  • First addition will be at the end of the Policy Year in which You attain Age 60 years or end of the 15 Policy Year, whichever is later
  • After that, at end of each subsequent 10 Policy Year
  • The last addition will be done on the Maturity Date

PROMC 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:

  • The amount of PROMC that will be added into the Fund at each interval of PROMC will be sum total of all the mortality charges deducted from, inception of the Policy or date of latest PROMC, whichever is later
  • Amount of mortality charge will be allocated to the Fund(s) in the same proportion of Fund Value as on the date of addition.
  • In case the premium(s) are un-paid and the Policy is revived during the Revival Period by paying all due premiums, the PROMC due-but-not-allotted will be added to the Fund as on the date of revival.
  • PROMC 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.

Waiver of Premium if LongLife Goal with Waiver of Premium, is opted

The Waiver of Premium Benefit is as mentioned below:

  • If the Life Assured & Policyholder are the same, in case of Accidental Permanent Total Disability of the Life Assured during the Premium Payment Term, premiums for the rest of the Policy Term will be waived and the Policy will continue with all the benefits
  • If the Life Assured & Policyholder are not the same, on earlier occurrence of Death or Accidental Permanent Total Disability of the Policyholder during the Premium Payment Term, premiums for the rest of the Policy Term will be waived and the Policy will continue with all the Benefits

Waiver of Premium is not applicable under LongLife Goal without Waiver of Premium variant.

Periodical Return of Waiver of Premium Charge (if LongLife Goal with Waiver of Premium, is opted)

The total amount of Waiver of Premium charges deducted in the Policy, will be added back as Periodical Return of Waiver of Premium Charge or PROWC, to the Fund Value at regular intervals as mentioned below.

  • First addition will be at the end of the Policy Year in which Your (Life Assured’s) Age is 60 years or end of the 15th Policy Year, whichever is later
  • After that, at end of each subsequent 10th Policy Year

The PROWC will be payable even after the WOP has been triggered in the Policy, to the extent of any unpaid PROWC. PROWC 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:

  • The amount of PROWC that will be added into the fund at each interval of PROWC will be sum total of all the mortality charges deducted from, inception of the Policy or date of latest PROWC, whichever is later
  • Amount of WOP charge will be allocated to the fund(s) in the same proportion of the Fund Value as on the date of addition
  • In case the premium(s) are un-paid and the Policy is revived during the revival period by paying all due premiums, the PROWC due-but-not-allotted will be added to the fund as on the date of revival
  • PROWC 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

Loyalty Additions (LA)

The Company shall allocate Loyalty Additions to the Fund Value as percentage of one Annualized Premium at the end of each Policy Year commencing from the end of 5th Policy Year, provided all due Regular Premiums have been paid up to date. The Loyalty Additions payable are as below:

Loyalty Additions (% of One Annualized Premium)

Year

Percentage

From the end of 5th year till end of 9th year

2% every year

From the end of 10th year till end of 14th year

4% every year

From the end of 15th year till end of 19th year

6% every year

From the end of 20th year till end of 25th year

7% every year

Note:

  • The amount of LA added into each Fund will be in the same proportion of the value of those Funds as at the date of addition.
  • LA will not be paid for a surrendered, discontinued or Policy converted to paid-up Policy.
  • 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.

Claw-back Additions

Non-zero positive claw back additions, if any, will be added to the Fund Value in order to meet the maximum reduction in yield criteria [as stipulated in Sub-regulation 37 of IRDA (Linked Insurance Products) Regulations, 2013] at the end of each Policy Year starting from the end of the fifth Policy Year

Surrender Benefit

You have the option to surrender your Policy at any time.

  • On surrender during the lock-in period of first five years of your Policy, the Fund Value, less the applicable discontinuance/surrender charge, as on the Date of Surrender, will be transferred to the Discontinued Life Policy Fund (maintained by the Company), and risk cover under the Policy shall cease immediately.
  • On surrender during the lock-in period, the option to revive the Policy will not be available to such a Discontinued Life Policy. The discontinuance value as at the end of the lock-in period will be available as surrender benefit
  • On surrender after the lock-in period of first five years of your Policy, the surrender value available will be Fund Value, as on the date of surrender, and will be payable immediately.
  • Under LongLife Goal with Waiver of Premium, if waiver of premium has already been triggered under the Policy, then, the present value of future waiver of premium installments, discounted at 4% p.a.(from the date of surrender), shall be paid
  • The Policy shall thereafter terminate upon payment of the full Surrender Benefit by the Company.
  •  

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Growth of 2 to 4% per year with Inflation Adjusted

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Stable and reliable returns

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Be upset and consider investing in safe avenues

Be concerned about any further investments

Consider partial withdrawal of funds

Not too concerned as knew that risk was involved. I expect performance to improve with an upturn in markets

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Fixed Deposit/ PPF / Small Savings schemes / Traditional life insurance

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Equity Mutual Fund/Unit Linked Insurance Plans (ULIPs)

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Disclaimer: Returns are 5 year compounded annualised growth rate (CAGR) as on 20/02/2018.
Past performance is not indicative of future performance. 1Overall rating as per Morning Star 2Since this is a new fund, the rating and 5 year returns are not available.

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What is Retired Life Income (RLI) and how can it be exercised?

You can get regular payout through systematic partial withdrawal in the RLI option. You can decide to receive RLI at any policy anniversary when you turn 55 years or after 10th policy year, whichever is later. Here, a percentage of your fund value (ranging from 0 to 12% per annum), as opted by you is paid yearly, half-yearly, quarterly or monthly. The instalment is paid by redeeming units from the funds in the same proportion as the fund value in each fund and will be redeemed at the unit price applicable on the date of each RLI instalment.

RLI payment is through Systematic Partial Withdrawal and the percentage can be changed anytime during the policy term or even after starting RLI. However, the fund value after payment of the instalment of RLI should not drop below 105% of total premiums paid till date.

What is switching and how does it work?

Unit Linked Insurance Plans (ULIPs) offer the dynamic option of Switching only under the investor selectable portfolio strategy, which adds the much-needed flexibility to this ULIP plan. It helps an investor to optimize asset allocation by allocating funds between equity and debt funds to best leverage the market scenario. Switches allow the policyholders to move their investments from one fund to another, within one plan, without any additional charge. You can transfer units fully or partially between fund options - equity, debt or a combination of both.

If you opt for Investor Selectable Portfolio Strategy, you also have the flexibility of switching units between the investment funds as per your choice. This option is not available in other portfolio strategy. The minimum switching amount is ` 5,000 or the value of units in the fund to be switched from, whichever is lower. You can make unlimited free switches during the policy term by giving a written notice to Bajaj Allianz Life. You will need to mention the exact amount to be switched and the name of the existing and the new fund. The policyholder can also avail this option through your insurer's portal.

In addition to market fluctuations, the decision to switch funds should also be based upon the risk appetite of investors and their life goals.

How does the switching between the portfolios work in Bajaj Allianz Life LongLife Goal?

As a policyholder you have the option of switching out from any of the four portfolio strategies of Investor Selectable Portfolio Strategy, Wheel of Life Portfolio Strategy II, Trigger Based Portfolio Strategy or Auto Transfer Portfolio Strategy to any portfolio strategy except Trigger Based Portfolio Strategy. You can opt for Trigger Based Portfolio Strategy only at the time of inception. You will need to give 30-days written notice before the policy anniversary to go for the switching option.

What is Periodical Return of Life Cover Charge (PROMC)?

The PROMC enhances your returns by periodically adding back the mortality charges to the fund value. The first addition is when the policyholder attains 60 years of age or at the end of the 15th policy year, whichever is later. The next additions are at the end of each subsequent 10th year, and the last addition is on the date of maturity. However, PROMC is not applicable in case of a surrendered, discontinued or paid-up policy and will be payable provided all due premiums under the policy have been paid up to date.

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.

Fund Booster

If all the premiums under the policy are paid up to date, at maturity, an additional amount, called the Fund Booster will be added to the fund value as a % of one annualized premium. The Fund Booster benefit is applicable for policy terms 10 & above. Please refer to the sales brochure for exact percent details.

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.

Loyalty Additions

If all the premiums under the policy are paid up to date, Loyalty Additions will be added to the Fund Value at the end of every policy year from the 6th policy year onwards, subject to policy terms & conditions. The Loyalty Addition will be a % of one annualized premium. Please refer to the sales brochure for eligibility and exact percent details.

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.

Periodical Return of Mortality Charge

"Periodical Return of Mortality Charge" is an amount [equal to the total of all Mortality Charges (excluding any Extra Mortality charge and/or GST) charged under the Policy] that will be added to the Regular Premium Fund Value at periodical intervals. Please refer to the sales brochure for more details.

Periodical Return of Waiver of Premium Charge

"Periodical Return of Waiver of Premium Charge" is an amount [equal to the total of Waiver of Premium Charges (excluding any Extra Mortality charge and/or GST) charged under the Policy] that will be added to the Regular Premium Fund Value at periodical intervals. Please refer to the sales brochure for more details.

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

Return of Mortality Charges (ROMC)

If all the premiums under the policy are paid up to date, at maturity, the sum of all mortality charges (Life Cover charges), including mortality on Top-up SA, if any, deducted during the policy term will be added to the Fund Value.

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.

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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!

$Tax benefits are as per the prevailing Income Tax Laws subject to change from time to time. Please consult your tax consultant for eligibility.

*Retired Life Income by way of Systematic Partial withdrawal, if opted for. Retired Life Income may be eligible for tax benefits as per extant Income Tax Act, subject to the provision stated therein.