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

ULIP investment plan with retired life income benefit

Bajaj Allianz Life LongLife Goal


A Unit-Linked Non-Participating Whole Life Insurance Plan

  • 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 - 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.

  • Risk Xplorer
  • Returns Calculator
  • Fund Performance
1

Calculate your Risk Appetite

2

Add and Allocate the Funds

3

Percentage Allocation

Calculate your risk appetite by answering simple questions


What returns do you expect to achieve from your investments?

How familiar are you with financial markets?

Which of the following best describes your preference when considering returns from investments?

Your investment advisor informs you that your portfolio has decreased in value by 20% after 6 months, due to stock market performance. How would you react?

If you didn't need your capital for more than 10 years, for how long would you be prepared to see your investment performing poorly before you cashed it in?

Which of the following are you currently investing in/ plan to invest in? (Kindly select one option only)

< / >
  • Age:
  • yrs
  • yrs
  •  
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.

  • Am I eligible?
  • FAQs
  • Glossary
Am I eligible?

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

99 years Minimum

99 years Maximum

Policy Term

99 minus Age at Entry of Life Assured

Premium Payment Term (PPT)

For age at Entry 0 to 6 years 12 to 25 years
For age at entry 7 years & above 10 to 25 years

Manimum 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 Yearly Half-Yearly Quarterly Monthly
Premium (in Rs.) 60,000 30,000 15,000 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

Bajaj Allianz Life LongLife Goal (UIN:116L156V01 )

For more details, please refer to the brochure.


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.

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

  • What is switching and how does it work?

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

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

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.

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 Rs 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.

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.

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.

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.
22 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.
23 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.
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. 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.

$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.

Chat with us...
Prefer Personal Assistance Before Buying?

Have Us Call You

I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to contact me. It will override my registry on the NCPR.
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) or on National Do Not Call Registry (NDNC), 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