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

    Bajaj Allianz Life Smart Wealth Goal A Unit-linked Non-Participating Life Insurance Plan

    • Three variants to choose from

    • Return of Premium Allocation charge#

    • Multiple investment portfolio strategies#

    • Return of Mortality charge#

    • Option to reduce the premium#

    • Overview
    • Key Advantage
    • How this works
    • Eligibility
    • Downloads
    • Sample Illustration
    • Policy Benefits
    Add Image Here

    Smart Wealth Goal By Bajaj Allianz Life

    When you dream big, you need to think out-of-the-box. And when it comes to planning your finances to help to achieve those goals, you have to think and act smart. A smart ULIP plan is the preferred answer. 

    A unit-linked life insurance policy, Bajaj Allianz Life Smart Wealth Goal is loaded with features like the return of mortality charge, the return of allocation charge and fund boosters, which may enable faster wealth creation. It offers multiple investment strategies to allow you to create a desirable corpus to achieve your life goals. The plan offers three variants -

    • Wealth
    • Child Wealth
    • Joint Life Wealth

    Periodical money backs

    The ULIP plan offers Systematic partial withdrawal through Periodical Money backs. Periodical Money backs include returning of premium allocation charges at the end of the 10th policy year or the date of maturity (whichever is earlier), and addition of an extra percentage to the fund value as Fund booster at the end of 15th, 20th, 25th and 30th year as per policy terms & conditions..

    Return of Mortality Charges:

    The ULIP plan helps you to accelerate your journey towards life goals by returning life cover charges at the end of the policy term if all due premiums have been paid.

    Multiple investment strategies:

    You can opt from five investment portfolio strategies at the inception of the policy -- Investor Selectable Portfolio Strategy, Wheel of Life Portfolio Strategy II, Trigger Based Portfolio Strategy II, Auto Transfer Portfolio Strategy and Capital Preservation-Oriented Strategy, in line with your need and risk profile

    Multiple Fund options:

    Those opting for Investor Selectable Portfolio Strategy can choose from eight ULIP fund options depending on their need, risk profile and time horizon. 

    Option to reduce premium

    This plan offers a unique feature of reducing the prevailing regular or limited premium by up to a maximum of 50% of the prevailing premium after the first five policy years. The reduction is subject to the minimum premium criteria under the plan being met and product terms and conditions

    Option to increase Premium paying term

    Subject to product terms and conditions, the policyholder can increase the premium paying term after the end of the 5th policy year by giving a 30-day notice prior to the policy anniversary after the end of the 5th policy year

    In Bajaj Allianz Life Smart Wealth Goal, Premiums 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/NAV of the Fund, post deduction of Premium Allocation Charge. The Mortality charge and Policy Administration charge is deducted monthly through cancellation of units. Fund management charge is adjusted in the Unit Price/NAV. 

    Entry Age

    Minimum age is 0 year

    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

    Minimum Age at Maturity is 18 years

    Maximum Age at Maturity is 85 years

     

    Policy Term

    Minimum Policy Term is 10 years

    Maximum Policy Term is 30 years

    Premium Paying Term

    Minimum PPT is 5 years

    Maximum PPT is Equal to Policy Term

    Premium

    Minimum Premium

    Frequency

    Yearly

    Half-yearly

    Quarterly

    Monthly

    Premium (in Rs.)

    12,000

    6,000

    3,000

    1,000

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

    Maximum Premium -  No Limit

    Premium Payment Frequency

    Yearly, Half yearly, Quarterly and Monthly

    Minimum & Maximum Sum Assured

    10 times Annualized Premium

    Minimum Top up Sum Assured

    1.25 times Top up Premium

    Maximum Top up Sum Assured

    10 times Top up Premium

    Age calculated is age as at the last birthday

    Prevailing Sum Assured is based on the prevailing Annualized Premium and Prevailing Top up Sum Assured is based on Top up Sum Assured amount 

    Pawan is 35 years old

    Pawan has various LifeGoals to be achieved. He has taken a Bajaj Allianz Life Smart Wealth Goal Policy (Wealth Variant) to meet his LifeGoals for a Policy Term of 20 years. He is paying an Annual Premium of Rs 1 lac for a payment term of 10 years with a Sum Assured of Rs 10 Lacs. 

    • Total Survival & Maturity Benefit
    • Death Benefit

    Let’s see the benefits available under the Policy

    At assumed investment return3

    At the end of 10th year

    At the end of 15th year

    At the end of 20th year

    Total Benefit [A+B+C]

    Return of Allocation Charge (ROAC)

    Fund Booster

    Fund Booster [A]

    Return of Mortality Charge (ROMC) [B]

    Maturity Benefit (Fund value) [C]

    of 8%

    32,000

    16,965

    28,941

    4,641

    25,25,643

    25,59,225

    of 4%

    32,000

    11,969

    16,857

    5,339

    13,92,366

    14,14,562

    All figures are in rupees. 3The 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.

    The above illustrations are considering investment is in the "Pure Stock Fund II and Goods & Service Tax of 18%"

    In case of Pawan’s unfortunate death on the 17th year, the Death Benefit, based on the assumed investment returns, are as per the table given below.

    At assumed investment return3

    At the end of 10th year

    At the end of 15th year

    Death Benefit at 17th year

    Return of Allocation Charge (ROAC)

    Fund Booster

    of 8%

    32,000

    16,965

    21,06,176

    of 4%

    32,000

    11,969

    13,03,292

    The Death Benefit is subject to a minimum of the guaranteed benefit, which is 105% of the total Premiums paid, till the date of death.

    All figures are in rupees. 3The 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.

    The above illustrations are considering investment is in the "Pure Stock Fund II and Goods & Service Tax of 18%"

    Maturity Benefit

    Provided the Policy is in-force and the Life Assured is alive, the Maturity Benefit will be the Fund value as on the date of maturity of your Policy.

    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, Prevailing Sum Assured3 or Regular Premium Fund value
        plus

      • Higher of, Prevailing Top up Sum Assured or Top up Premium Fund value, if any.

      The Death Benefit payable is subject to the Guaranteed Benefit3 of 105% of the Total Premiums4 paid, till the date of death.

      All the above is paid as on date of receipt of intimation of death at the Company’s office. The risk cover will terminate on the date of intimation of death of the Life Assured. 

       

    3Sum Assured/Guaranteed Benefit: The Death Benefit shall be reduced to the extent of the non-systematic partial withdrawals made from the Regular/Limited Premium Fund during the two (2) year period immediately preceding the death of the Life Assured.

    4Total Premiums paid shall be sum of all Regular/Limited Premiums and any Top up Premiums paid till date.

    Loyalty Benefits with option of Periodical Money Backs

    The Company shall add Loyalty Benefits to the Regular Premium Fund value, provided all due Regular Premiums have been paid up to date of each Loyalty Benefit.

    At Policy inception or any time before the 10th policy year, you may choose the option to take the Loyalty Benefits as Periodical Money Backs (through systematic partial withdrawals), immediately after they have been added in the Regular Premium Fund Value. You may alter your choice to receive Periodical Money Backs any number of times before the end of 10th Policy year.

    If this option to receive Periodical Money Backs has not been chosen by the 10th policy year, you cannot receive the Loyalty Benefits again as Periodical Money Backs, and such Loyalty Benefits will remain in the Regular Premium Fund Value.

    The Loyalty Benefits available in the plan are as mentioned below:

    Return of Premium Allocation Charge (ROAC):): At the end of the 10th Policy year or the date of maturity (whichever is earlier), the total of all the Premium Allocation charges5, deducted under the Policy will be added into the Fund as Loyalty Benefit

    Fund Boosters: At the end of 15th, 20th, 25th and 30th year (as applicable in your Policy), Fund Booster as a percentage of the Average of the daily Regular Premium Fund value during the previous 3 years (including the current year) will be added into the Fund as Loyalty Benefit.

    The applicable percentages are as given in the table below.

    End of Policy Year

    15th year

    20th year

    25th year

    30th year

    Fund Booster (%)

    1.00%

    1.25%

    1.50%

    1.75%

    Note:

    • Loyalty Benefits including Periodical Money Backs, if opted, will not be paid for a Surrendered, Discontinued or Policy converted to Paid-up Policy.
    • Amount of Loyalty Benefits will be allocated in Funds in the same proportion of the Fund value as at the date of addition
    • There will not be any Loyalty Benefits with respect to any Top up Premiums paid or any Top up Premium Fund value
    • ROAC will exclude any Goods & Service Tax/any other applicable tax with respect to the Premium Allocation charge deducted, subject to change in tax laws

    5The premium allocation charge is applicable till the 5th policy year.

    Return of Mortality Charge (ROMC)

    At the end of the Policy term, on the date of maturity of your Policy, 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 Fund value. 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:

    1) ROMC will be allocated to the Fund(s) in the same proportion of the Fund value as on the maturity date

    2) 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

    • Overview
    • Key Advantage
    • How this works
    • Eligibility
    • Downloads
    • Sample Illustration
    • Policy Benefits
    Add Image Here

    When you dream big, you need to think out-of-the-box. And when it comes to planning your finances to help to achieve those goals, you have to think and act smart. A smart ULIP plan is the preferred answer. 

    A unit-linked life insurance policy, Bajaj Allianz Life Smart Wealth Goal is loaded with features like the return of mortality charge, the return of allocation charge and fund boosters, which may enable faster wealth creation. It offers multiple investment strategies to allow you to create a desirable corpus to achieve your life goals. The plan offers three variants -

    • Wealth
    • Child Wealth
    • Joint Life Wealth

    Income Benefit:

    An amount equal to one (1) prevailing annual premium is paid every year till the end of the policy year, in the event of death or accidental total permanent disability of the life assured (the parent). 

    Premium waiver

    The ULIP plan continues, and all the future premiums are waived off in the event of death or accidental total permanent disability of the life assured

    Guaranteed* Life cover at the death of the parent

    A guaranteed minimum sum assured is paid and the policy continues, in case of the death of the life assured

    Child Milestone Payouts

    This feature helps you to realize  your child’s education goal.. You can opt to receive Annual systematic partial withdrawals for any four consecutive policy years from eleventh policy anniversary onwards. You can also opt for monthly frequency to take the Child Milestone Payouts.

    In Bajaj Allianz Life Smart Wealth Goal, Premiums 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/NAV of the Fund, post deduction of Premium Allocation Charge. The Mortality charge and Policy Administration charge is deducted monthly through cancellation of units. Fund management charge is adjusted in the Unit Price/NAV. 

    Entry Age

    Minimum age is 18 year

    Maximum age is 55 years

    Maturity

    Minimum Age at Maturity is 33 years

    Maximum Age at Maturity is 85 years

     

    Policy Term

    Minimum Policy Term is 15 years

    Maximum Policy Term is 30 years

    Premium Paying Term

    Minimum PPT is 5 years

    Maximum PPT is Equal to Policy Term

    Premium

    Minimum Premium

    Frequency

    Yearly

    Half-yearly

    Quarterly

    Monthly

    Premium (in Rs.)

    48,000

    24,000

    12,000

    4,000

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

    Maximum Premium - No Limit

    Premium Payment Frequency

    Yearly, Half yearly, Quarterly and Monthly

    Minimum & Maximum Sum Assured

    10 times Annualized Premium

    Minimum Top up Sum Assured

    1.25 times Top up Premium

    Maximum Top up Sum Assured

    10 times Top up Premium

    Age calculated is age as at the last birthday

    Prevailing Sum Assured is based on the prevailing Annualized Premium and Prevailing Top up Sum Assured is based on Top up Sum Assured amount 

    Prakash is 35 years old

    Prakash has a 2 year old son, and he wants to create a Fund for his son’s education. He has taken a Bajaj Allianz Life Smart Wealth Goal Policy (Child Wealth) to meet his LifeGoals for a Policy Term of 20 years. He is paying an Annual Premium of Rs 1 lac for a Premium payment term of 10 years with a Sum Assured of Rs 10 Lacs. Prakash has also opted for Child Milestone Payout. 

    ,
    • Total Survival & Maturity Benefit
    • Death Benefit

    Let’s see the benefits available under the Policy.

    At assumed  investment return3

    At the end of 10th year

    At the end of 15th year

    At the end of 16th year

    At the end of 17th year

    At the end of 18th year

    At the end of 19th year

    At the end of 20th year

    Total Maturity Benefit [A+B+C]

    Return of Allocation Charge (ROAC)

    Fund Booster

    1st Child Milestone Payout

    2nd Child Milestone Payout

    3rd Child Milestone Payout

    4th Child Milestone Payout

    Fund Booster [A]

    Return of Mortality, WOP, Income Benefit, Morbidity Charges [B]

    Maturity Benefit (Fund value) [C]

    of 8%

    32,000

    16,114

    1,49,356

    1,81,734

    2,07,585

    2,25,285

    19,504

    88,780

    14,61,921

    15,70,205

    of 4%

    32,000

    11,320

    95,216

    1,11,222

    1,21,884

    1,26,806

    11,221

    88,780

    7,88,045

    8,88,046

    All figures are in rupees. 3The 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.

    The above illustrations are considering investment is in the "Pure Stock Fund II and Goods & Service Tax of 18%"

    In case of Prakash’s unfortunate death on the 5th year, the Death Benefit, based on the assumed investment returns, are as per the table given below. The Policy will continue with the 2nd, 3rd and 4th Child Milestone Payout to be paid as and when they become due.

    At assumed invesment return3

    Death Benefit at 5th year

    At the end of 10th year

    At the end of 15th year

    At the end of 16th year

    At the end of 17th year

    At the end of 18th year

    At the end of 19th year

    At the end of 20th year

    Total Maturity Benefit [A+B]

    Return of Allocation Charge (ROAC)

    Fund Booster year

    1st Child Milestone Payout

    2nd Child Milestone Payout

    3rd Child Milestone Payout

    4th Child Milestone Payout

    Fund Booster [A]

    Maturity Benefit (Fund value) [B]

    of 8%

    10,00,000

    32,000

    16,649

    1,55,650

    1,90,118

    2,18,070

    2,37,756

    20,539

    15,50,764

    15,71,303

    of 4%

    32,000

    11,772

    1,00,314

    1,17,898

    1,30,106

    1,36,452

    12,027

    8,55,949

    8,67,976

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

    All figures are in rupees. 3The 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.

    The above illustrations are considering investment is in the "Pure Stock Fund II and Goods & Service Tax of 18%"

    Maturity Benefit

    The Maturity Benefit will be the Fund value as on the date of maturity of your Policy. Even in case of an unfortunate death or Accidental Total Permanent Disability (ATPD) of the Life Assured during the Policy term, the Maturity Benefit will be paid.

    Death or Accidental Total Permanent Disability Benefit

    If all due Premiums are paid, then, in case of unfortunate death or Accidental Total Permanent Disability (ATPD) of the Life Assured, whichever is earlier, during the Policy term, the Benefit payable will be:

    • Prevailing Sum Assured
      plus
    • Prevailing Top up Sum Assured, if any.

    The Benefit is subject to a minimum of the Guaranteed Benefit of 105% of the Total Premiums4 paid, till the date of death.

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

    The death and ATPD cover will terminate on the date of intimation of death or ATPD (whichever is earlier). 

    If this Benefit has been paid out due to occurrence of Accidental Total Permanent Disability (ATPD), then, on subsequent death of the Life Assured, no additional benefit is payable

    4 Total Premiums paid shall be sum of all Regular/Limited Premiums and any Top up Premiums paid till date.

    Income Benefit

    On occurrence of death or ATPD of the Life Assured, whichever is earlier, an additional benefit as Income Benefit will be payable. 

        i) Each installment of the Income Benefit is equal to one prevailing Annual Premium

        ii) The Income Benefit is payable each Policy year till the end of the Policy term and the first Income Benefit instalment will be due on the Policy anniversary after the date of death or ATPD, whichever is earlier.

        iii) In case of death of the Life Assured the Income Benefit is payable to the nominee and in case of ATPD it is payable to the Policyholder, at each Policy Anniversary for the remaining Policy term

        iv) Income Benefit will be payable only if all the due Premiums are paid up to date

        v) Income Benefit will not be payable in case of a Discontinued or Paid-up Policy


    If Income benefit is paid out on occurrence of ATPD, then, on subsequent death, no additional benefit is payable, and the income benefit will continue till the end of Policy term

    Waiver of Premium Benefit (WOP)

    On occurrence of ATPD or death of the Life Assured, whichever is earlier during the Premium Paying Term, all future prevailing Premiums due under the Policy will be paid by the Company

    i) The Policy will continue with all the other benefits till date of maturity of your Policy

    ii) WOP Benefit will be payable only if all the due premiums are paid up to date

    iii) WOP Benefit will not be payable in case of a Discontinued or Paid-up policy

    If WOP benefit is triggered on occurrence of ATPD, then, on subsequent death, no additional benefit is payable, and all future Premiums due under the Policy will continue to be paid into the policy by the Company

    Loyalty Benefits 

    The Company shall add Loyalty Benefits to the Regular Premium Fund value, provided all due Regular Premiums have been paid up to date.

    Even after occurrence of death or ATPD of the Life Assured, Loyalty Benefits will be added to the Regular Premium Fund value. The Loyalty Benefits available in the plan are as mentioned below

    Return of Premium Allocation Charge (ROAC): At the end of the 10th Policy year or the date of maturity (whichever is earlier), the total of all the Premium Allocation charges5 deducted under the Policy will be added into the Fund as Loyalty Benefit

    Fund Boosters: At the end of 15th, 20th, 25th and 30th year (as applicable in your Policy), Fund Booster as a percentage of the Average of the daily Regular Premium Fund value during the previous 3 years (including the current year) will be added into the Fund as Loyalty Benefit.

    The applicable percentages are as given in the table below.

    End of Policy Year

    15th year

    20th year

    25th year

    30th year

    Fund Booster (%)

    1.00%

    1.25%

    1.50%

    1.75%

    Note:

    • Loyalty Benefits will not be paid for a Surrendered, Discontinued or Policy converted to Paid-up Policy.
    • Amount of Loyalty Benefits will be allocated in Funds in the same proportion of the Fund value as at the date of addition
    • There will not be any Loyalty Benefits with respect to any Top up Premiums paid or any Top up Premium Fund value
    • ROAC will exclude any Goods & Service Tax/any other applicable tax with respect to the Premium Allocation charge deducted, subject to change in tax laws

    5The premium allocation charge is applicable till the 5th policy year.

    .

    Return of Mortality Charge (ROMC)

    At the end of the Policy term, on the date of maturity of your Policy, 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 Fund value. 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:

    1) ROMC will not be payable on occurrence of death/ATPD of the Life Assured

    2) ROMC will be allocated to the Fund(s) in the same proportion of the Fund value as on the maturity date

    3) 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

    Return of Income Benefit Charge (ROIBC)

    At the end of the Policy term, on the date of maturity of your Policy, the total amount of all Income Benefit charges deducted will be added back as ROIBC, to the Fund value. This addition will be done provided all Premiums due under the Policy are paid to date and no death/ATPD benefits are paid in the Policy. ROIBC is not applicable in case of a Surrendered, Discontinued or Paid-up Policy

    Note:

    1) Amount of ROIBC will be allocated to the Fund(s) in the same proportion of the Fund value as on the maturity date

    2) ROIBC will be excluding any extra Income Benefit charges & or Goods & Service Tax/any other applicable tax levied on the charge deducted, subject to changes in tax laws.

     

    Return of Morbidity Charge (ROMBC)

    At the end of the Policy term, on the date of maturity of your Policy, the total amount of all ATPD charges deducted will be added back as ROMBC, to the Fund value. This addition will be done provided all Premiums due under the Policy are paid to date and no death/ATPD benefits are paid in the Policy. ROMBC is not applicable in case of a Surrendered, Discontinued or Paid-up Policy

    Note:

    1) Amount of ROMBC will be allocated to the Fund(s) in the same proportion of the Fund value as on the maturity date

    2) ROMBC will be excluding Goods & Service Tax/any other applicable tax levied on the charge deducted, subject to changes in tax laws.

    Return of WOP Charge (ROWC)

    At the end of the Policy term, on the date of maturity of your Policy, the total amount of all WOP charges deducted will be added back as ROWC, to the Fund value. This addition will be done provided all Premiums due under the Policy are paid to date and no death/ATPD benefits is paid in the Policy. ROWC is not applicable in case of a Surrendered, Discontinued or Paid-up Policy

    Note:

    1) Amount of ROWC will be allocated to the Fund(s) in the same proportion of the Fund value as on the maturity date

    2) ROWC will be excluding any extra WOP charges & or Goods & Service Tax/any other applicable tax levied on the charge deducted, subject to changes in tax laws.

    • Overview
    • Key Advantage
    • How this works
    • Eligibility
    • Downloads
    • Sample Illustration
    • Policy Benefits
    Add Image Here

    When you dream big, you need to think out-of-the-box. And when it comes to planning your finances to help to achieve those goals, you have to think and act smart. A smart ULIP plan is the preferred answer. 

    A unit-linked life insurance policy, Bajaj Allianz Life Smart Wealth Goal is loaded with features like the return of mortality charge, the return of allocation charge and fund boosters, which may enable faster wealth creation. It offers multiple investment strategies to allow you to create a desirable corpus to achieve your life goals. The plan offers three variants -

    • Wealth
    • Child Wealth
    • Joint Life Wealth

    Joint life cover

    You can cover your loved ones, including spouse, child, parents, grandparents, or co-borrower etc under this ULIP plan variant. 

    Single Premium

    The Joint Life Cover variant is available only as a single premium ULIP plan. You pay the premium once to provide life cover to you and your loved ones under the same plan for a maximum of 30 years

    In Bajaj Allianz Life Smart Wealth Goal, Premiums 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/NAV of the Fund, post deduction of Premium Allocation Charge. The Mortality charge and Policy Administration charge is deducted monthly through cancellation of units. Fund management charge is adjusted in the Unit Price/NAV. 

    Entry Age

    Minimum age is 0 year

    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 70 years

    Maturity

    Minimum Age at Maturity is 18 years

    Maximum Age at Maturity is 80 years

     

    Policy Term

    Minimum Policy Term is 7 years

    Maximum Policy Term is 30 years

    Premium Paying Term

    Single Premium

    Premium

    Minimum Premium is Rs 1,00,000.

    Maximium Premium - No Limit

    Premium Payment Frequency

    Single Premium

    Minimum & Maximum Sum Assured

    10 times Single Premium

    Minimum Top up Sum Assured

    1.25 times Top up Premium

    Maximum Top up Sum Assured

    10 times Top up Premium

     

    Age calculated is age as at the last birthday

    Prevailing Top up Sum Assured is based on Top up Sum Assured

    Pankaj is 50 years old

    Pankaj aged 50 years and his wife Pooja also aged 50 years, have taken Bajaj Allianz Life Smart Wealth Goal (Joint Life Wealth) for a Policy Term of 20 years. Pankaj has paid a Single Premium of Rs 1,00,000. 

    • Total Survival & Maturity Benefit
    • Death Benefit

    Lets see the benefits available under the plan

    At  assumed investment return3

    At the end of 10th year

    At the end of 15th year

    At the end of 20th year

    Total Maturity Benefit [A+B+C]

    Return of Allocation Charge (ROAC)

    Fund Booster

    Fund Booster [A]

    Return of Mortality Charge (ROMC) [B]

    Maturity Benefit (Fund value) [C]

    of 8%

    2,000

    2,138

    3,618

    1,762

    3,15,077

    3,20,457

    of 4%

    2,000

    1,243

    1,720

    3,621

    1,41,259

    1,46,600

    All figures are in rupees. 3The 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.

    The above illustrations are considering investment is in the "Pure Stock Fund II and Goods & Service Tax of 18%"

    In case of death of the surviving Life Assured on the 17th year after the death of the primary Life Assured, the Death Benefit, based on the assumed investment returns, are as per the table given below.

    At assumed investment return3

    Death Benefit at 17th year

    of 8%

    10,00,000

    of 4%

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

    All figures are in rupees. 3The 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.

    The above illustrations are considering investment is in the "Pure Stock Fund II and Goods & Service Tax of 18%"

    Maturity Benefit

    The Maturity Benefit will be the Fund value as on the date of maturity of your Policy, provided the Policy is in-force and either of the lives is alive on the date of maturity.

    Death Benefit

    • In case of first unfortunate death of the primary or secondary Life Assured during the Policy term, any amount in excess of 1.25 times of Single Premium over the Single Premium Fund value and any amount in excess of 1.25 times Top up Premium over Top up Premium Fund value, if any, will be added to the Fund value4a and the Policy will continue with Life Cover on the surviving Life Assured.
    • On death of the surviving Life Assured (second death), during the Policy Term, the Death Benefit payable will be:
      • Higher of, Sum Assured4b or Single Premium Fund Value plus
      • Higher of, Prevailing Top up Sum Assured or Top up Premium Fund Value, if any or

    On death of the surviving Life Assured (second death), the total Death Benefit shall be at least the Guaranteed Benefit4b of 105% of Total Premiums5 paid

    All the above is paid as on date of receipt of intimation of death at the Company’s office. The Policy will terminate on the date of intimation of second death.

    4a If the Single Premium Fund value is already in excess of 1.25 times of Single Premium and/or Top up Premium Fund value, if any, is already in excess of 1.25 times Top up Premium, then, no amount will be added.

    4bSum Assured/ Guaranteed Benefit: The Death Benefit, on death of the surviving Life Assured (second death), shall be reduced to the extent of the non-systematic partial withdrawals made from the Single Premium Fund during the two (2) year period immediately preceding the death of the Life Assured

    5Total Premiums paid shall be the Single Premium paid and any Top up Premiums paid till date

    Loyalty Benefits (LB)

    The Company shall add Loyalty Benefits to the Single Premium Fund value. 

    The Loyalty Benefits available in the plan are as mentioned below:

    Return of Premium Allocation Charge (ROAC): At the end of the 10th Policy year or on the maturity date of the policy, whichever is earlier, the total of all the Premium Allocation charges deducted under the Policy will be added into the fund as Loyalty Benefit. 

    Fund Boosters: At the end of 15th, 20th, 25th and 30th year (as applicable in the Policy), Fund Booster as a percentage of the Average of the daily Single Premium Fund value during the previous 3 years (including the current year) will be added into the Fund as Loyalty Benefit. 

    The applicable percentages are as given in the table below.

    End of Policy Year

    15th year

    20th year

    25th year

    30th year

    Fund Booster (%)

    1.00%

    1.25%

    1.50%

    1.75%

    • Loyalty Benefits will not be paid for a Surrendered Policy.
    • Loyalty Benefits will be allocated in Funds in the same proportion of the Fund value as at the date of addition
    • There will not be any Loyalty Benefits with respect to any Top up Premiums paid or any Top up Fund value
    • ROAC will exclude any Goods & Service Tax/any other applicable tax with respect to the Premium Allocation charge deducted, subject to change in tax laws

    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 Fund value, subject to both lives being alive on the date of maturity. ROMC is not applicable in case of a Surrendered Policy.

    Note:

    1) ROMC will be allocated to the Fund(s) in the same proportion of the Fund value as on the maturity date

    2) 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

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    ⭐ How does the Return of Mortality Charge (ROMC) work?

    On the date of the ULIP policy's maturity, the total amount of Mortality charges deducted throughout the Policy term will be added back as ROMC to the ULIP Fund value. ROMC would be added to the fund(s) in the same proportion of the Fund value as on the maturity date. However, the benefit of ROMC will be available only if all due Premiums under the policy have been paid up to date. ROMC will be excluding any extra mortality charge and/or Goods  & Services Tax /any other applicable tax levied on the Mortality charge deducted, subject to change in tax laws. 

    ⭐ How will I receive the allocation charge and fund booster?

    At the end of the 10th policy year or on the date of policy maturity, whichever is earlier, the total of all the premium allocation charges deducted under the policy will be added into the Fund as Loyalty Benefit.  

    Policyholders opting for longer policy terms will be rewarded with extra units through Fund Boosters.at the end of 15th, 20th, 25th and 30th year, fund booster as a percentage of the average of the daily Single/Regular Premium Fund value during the previous three years (including the current year) will be added into the fund as loyalty benefit., depending on the variant opted by the policyholder. 

    ⭐ Are the morbidity, Waiver of Premium (WOP) and Income Benefit charges also returned?

    Yes, under the Child Wealth variant, the charges deducted towards the benefits like Income Benefit, Waiver of Premium and Accidental Total Permanent Disability (ATPD), will be returned at maturity provided premiums due under the policy are paid to date, and no death/ATPD benefits are already paid under the policy.  These charges would be added to the fund(s) in the same proportion of the Fund value as on the maturity date. The return of these charges will be excluding any extra charges and/or GST/any other applicable tax levied, subject to change in tax laws.

    ⭐Can one change the investment strategy, fund option in the middle of the policy?

    At any policy anniversary, one can switch out from any of the five portfolio strategies -- Investor Selectable Portfolio Strategy, Wheel of Life Portfolio Strategy II, Trigger Based Portfolio Strategy II, Auto Transfer Portfolio Strategy or Capital Preservation-Oriented Strategy and switch into any one of the following three strategies:

    1. Investor Selectable Portfolio Strategy
    2. Wheel of Life Portfolio Strategy II
    3. Auto Transfer Portfolio Strategy

    Trigger Based Portfolio Strategy II and Capital Preservation-Oriented Strategy can be opted for only at inception.

    Once you have opted out of Trigger Based Portfolio Strategy II and Capital Preservation-Oriented Strategy, you cannot switch back again during the policy term.

    You can switch between ULIP funds only under the Investor Selectable Portfolio Strategy.

    ⭐ How many switches between funds or investment strategies are allowed in the plan?

    You can make unlimited free fund switches. Switching of investment strategies would invite a Miscellaneous charge, as mentioned in the Table of charges in sales literature. 

    ⭐Can I partially withdraw from the fund value? If yes, what are the rules regarding such withdrawals?

    Both systematic and non-systematic partial withdrawals are allowed under the ULIP policy. One can opt for non-systematic partial withdrawal any time after the 5th policy year, subject to policy terms & conditions. You can take out a minimum of Rs 5,000 and maximum of 10% of the total premiums paid at any one time. Not more than 50% of the total premiums paid will be allowed to be withdrawn during the policy term.

    Systematic Partial withdrawals are available with Wealth and Child Wealth variants. In Wealth variant, at the inception of the policy, you can opt to take out the Loyalty Benefits as Periodical Money Backs by way of systematic partial withdrawal, You can opt out of this before the 10th Policy year when the first Loyalty Benefit becomes due.. You will also have the option to take these Periodical Money Backs in one-lump sum or over a period of 12 continuous months.

    In Child Wealth variant, Child milestone payouts, an annual systematic partial withdrawal for Child’s Key Milestones will be available in the last four Policy Anniversaries prior to the maturity date. However, you may opt to receive the Child Milestone Payouts, at any Policy Anniversary from the eleventh (11th) Policy Anniversary onwards, as four consecutive annual systematic partial withdrawals.

    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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    • Amongst ‘Top 75 most valuable Indian Brands 2020’1
    • One of the most Trusted Brand2
    • Claims Settlement Ratio 98.02%~
    • 1 Day Claim Approval7
    • Solvency ratio of 745% **
    • AAA (In) Rating by CARE – Highest Claims Paying Ability$
    • Claim deposits via electronic transfer to make process faster
    • ` 56,085 Total Assets Under Management (AUM)**
    • 3.44 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.

    787% of non-investigative individual claims approved in one working day for FY 2019-20. 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

    ~Individual Claims Settlement Ratio for FY 2019-2020

    **All figures as on 31 March, 2020

    #Individual & Group

    1 Report published by Kantar millward brown

    2Survey conducted by brand equity – Nielsen in March 2020

    $For details refer to press release published by CARE

    "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!

    #subject to product terms and conditions

    *The Death Benefit payable is equal to the Sum Assured under the policy subject to the Guaranteed Benefit of 105% of the Total Premiums\ paid, till the date of death.