Goal based savings ulip insurance policy

Bajaj Allianz Life Goal Based Saving

A new age ULIP with Return of life cover charges

  • Return of mortality charges at maturity (ROMC) in case of Regular / Limited Premium policies
  • Option to make partial withdrawals from the funds
  • Choice of regular, limited and single premium payment option
  • Settlement Option with Return Enhancer
  • Choice of eight (8) funds
  • Option to pay top-up premium
  • Option to decrease sum assured in case of Single Premium policies
  • Option to change premium payment term

ULIP Insurance Policy - Bajaj Allianz Life Goal Based Saving

We all have goals in life that we want to achieve. Be it long term or short term, each one of us need to have a concrete plan to get our Life Goals Done. The burning desire to accomplish our life goals is stitched in to our culture and society. Whether it is, funding a start-up or child's education in the best medical college, travelling around the globe or purchasing a home, proper planning of life goals become very important to achieve them.

To achieve these #LifeGoals, financial planning needs to be at the forefront! No matter what the objective for accumulation of funds is, a systematic financial plan disciplined towards your life goal planning is how you can get your #LifeGoalsDone.

Here is a financial planning opportunity that we present to you. Bajaj Allianz Life Goal Based Saving, a new-age Unit Linked Insurance Plan (ULIP) offers you an opportunity to gain substantial benefits at an affordable cost and helps your hard earned money to work towards realizing your life goals.

With the choice of 8 funds, return of mortality charge on policy maturity, tax benefits on your investment and life cover, it is one of the best investments or goal based solution your money can buy. Furthermore, you can opt to receive the maturity benefit in instalments by staying invested in fund(s) of your choice and receive the benefit of Return Enhancer, which is an additional hike up of 0.5% of each instalment.

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Current Fund Options
Absolute return (in %)
CAGR return (in %)
Fund Type
3 Month (%) 6 Month (%) 1 Year (%) 2 Year (%) 3 Year (%) 5 Year (%) 10 Year (%) Since Inception (%) Inception Date

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

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Am I eligible?

Entry Age

0 Minimum
( 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 )

60 Maximum

Maturity Age

18 Minimum

75 Maximum

Policy Term

5 / 10 / 15 / 20 Years

Premium Payment Term (PPT)

The premium payment term will be as follows

Premium Paying Term 5 years 5 & 10 years 5, 7 & 10 years 15 years
Policy term 5 years 10 years 15 years 20 years

Minimum Premium (Modal Premium & Top-up)

Frequency Yearly Half-Yearly Quarterly Monthly* Top-up
Premium (in ₹) 1,00,000 50,000 25,000 8,334 5,000

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

Maximum Premium

As per the maximum SA and Board approved Underwriting Policy (BAUP)

Premium Payment Frequency

Yearly, Half-yearly, Quarterly and Monthly and Single

Minimum & Maximum Sum Assured

Age Higher of
Less than 45 years 10 times Annualized Premium 0.5 *policy term *Annualized Premium
Greater than or equal to 45 years 10 times Annualized Premium 0.25 *policy term *Annualized Premium

Maximum & Minimum Sum Assured on Top up Premium

Age Top Up Sum Assured Multiplier
Less than 45 years 1.25 times Top-up Premium
Greater than or equal to 45 years 1.1 times Top-up Premium

Age calculated is age at the last birthday

  • Why should I invest in a ULIP plan over other investment plans?
  • How to select the best ULIP plan?

There are other investment opportunities available to you in today's day and age, however, a ULIP plan is always one of your best options and here are 3 reasons why:

Return on ULIP investments as per risk appetite

ULIPs provide you return on investment as per your risk appetite. You can opt for high-risk, high-return funds or safer, conservative funds, depending on your needs and requirements. You can even switch between them as and when you like.

Life cover in ULIP Plans

While other instruments offer you an opportunity to grow your money for your future goals, a ULIP policy ensures that your valuable money is fully utilized towards attaining your future financial goals while also giving you peace of mind by protecting the future of your loved ones.

ULIP Tax benefits

Premiums paid towards ULIPs are eligible for tax benefits under Section 80C of the Income Tax Act. Also, Maturity benefit, Death benefit and Surrender value are eligible for tax benefits under Section 10(10D) of the Income Tax Act, subject to the provision stated therein.

There are a number of ULIP plans available in the market. This abundance of choice can prove to be quite confusing for customers. However, there are a few things you can keep in mind that will make choosing a plan slightly easier.

Firstly; look at the charges

Compare the charges of all the plans with a ULIP calculator before you finalize. This will allow you to go for the plan that has lower charges thus giving you more money to invest and higher returns at the end of the tenure. Fund performance and ULIP NAV can also be easily viewed for such plans.

Fund variety

The more fund options ULIP plans have to offer, the higher the chances are that you will find a fund option that suits your needs. Bajaj Allianz Future Gain is a ULIP plan that offers you a choice of 7 different fund options, enabling you to choose where you want to invest your money.


Another key feature to look for in ULIP plans is flexibility. This allows you to mend your plan as per your needs. For example, look for a plan that provides you more free switches, partial withdrawals, top-ups, etc. Some plans, like Future Gain from Bajaj Allianz Life Insurance, also allow you to increase or decrease your Sum Assured.

Premium payment options

You should look for ULIP plans that allow you to pay premiums as per your convenience. Some plans offer monthly, quarterly, half-yearly and yearly premium payment options.

Sr.No Term Definition
1 Regular Premium The amount payable by the policyholder at regular intervals during the Premium Paying Term, and at the Premium Payment Frequency
2 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
3 Top Up Premium The amount of additional premium paid over and above the Regular/ Limited Premium payable under this Policy
4 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
5 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
6 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.
7 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.
8 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.
9 Fund Value It is the total value of units that a policyholder holds in funds. Fund Value = Number of Units x Net Asset Value
10 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.
11 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.
12 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.
13 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.
14 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.
15 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
16 Reinstatement To restore the policy after the life insurance policy has lapsed.
17 Surrender Value A value payable if you want to surrender the plan before a claim arises.
18 In - force In-force Policies are valid/active policies for which the full premiums as on date are paid.
19 Lapse The termination of an insurance policy due to non-payment of premium.
20 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.
21 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.
Note: Please read the glossary in conjunction with the respective Sales Brochure

Disclaimer: I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business.

Disclaimer: For more details about risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. The terms and conditions of product/plan as contained in the Policy Document issued by the Company is available on the Web Site. Please note that the name of the Bajaj Allianz product/plan does not indicate the quality of the insurance contract and its future prospects or returns. Investment in ULIPs is subject to market risks associated with capital markets. IN ULIPs, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. Tax benefits are as per the prevailing Income Tax Laws including the Income Tax Act, 1961 and are subject to change from time to time. Goods and Service Tax will have to be borne by the Policyholder as per applicable rates. All other charges shall be levied in accordance with the terms and conditions of the policy.

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