Bajaj Allianz Life Guaranteed Income Goal

Benefits

We all like certainty in life and when this certainty is about our Life Goals, life is simple. This certainty can be achieved with guaranteed regular income that supports our financial needs tomorrow. So we can sustain as well as achieve our Life Goals. Presenting Bajaj Allianz Life Guaranteed Income Goal, a life insurance plan that offers guaranteed returns along with life cover.

Key Features

  • Choice of 2 Variants: Depending up on your Life Goal: Income Benefit and Lump-Sum Benefit
  • Guarantee: Guaranteed^ increasing income under income Benefit
  • Extended Life cover: Option to extend your Life Cover beyond your Policy Term.
  • Flexibility: Multiple Policy Terms & Premium Payment Terms to choose from
  • Choice of 5 Riders to Enhance Cover: Avail additional risk cover through Riders on payment of additional premium.

^Conditions apply. The Guaranteed benefits are dependent on the policy term, premium payment term availed along with other variable factors. For details ,please refer to sales brochure (Also available on www.bajajallianzlife.com).

How does the plan work? (Illustration)

You can customize your policy to suit your requirement in the following manner:

Step 1 : Choose the variant as mentioned below:

  • Income Benefit
  • Lump-sum Benefit

Step 2 : Choose the Sum Assured

Step 3 : Option to choose Extended Life Cover (ELC) To extend your Life Cover beyond your Policy Term

Step 4 : Choose your Policy Term (PT)

Step 5 : Choose your Premium Payment Term (PPT) from available options

The premium calculated will depend up on the variant & options chosen by you as mentioned above

Note –

  • Variant can be chosen at inception only cannot be changed subsequently
  • ELC option has to be chosen at inception only and cannot be opted for or opted out of (once chosen) subsequently
  • Please note that the Basic Sum Assured is lower than the total premiums paid and varies between 16.40% to 70.64%. of the total premiums paid depending upon the age of the Life assured, policy term, premium paying term

Key Benefits

Maturity Benefit

Guaranteed Maturity Benefit (GMB) :

  • If Lump-sum Benefit option is chosen by you, on the Maturity Date, if all premiums are paid, your Guaranteed Maturity Benefit payable as Lump-sum will be an enhanced percentage of your Sum Assured. This is called as Guaranteed Enhancer (GE)
  • The Guaranteed Maturity Benefit will be subject to minimum of 100% of Total Premium* paid under the policy

Guaranteed Maturity Instalments (GMI) :

  • If Income Benefit option is chosen by you, on the maturity date, if all premiums are paid, your Guaranteed Maturity Benefit will be paid in yearly, half-yearly, quarterly or monthly installments (as chosen by you at the inception of the policy). These are called as Guaranteed Maturity Instalments (GMI), and will be paid at the end of the GMI year for a period equal to your Premium Payment Term (PPT).

For full information on Guaranteed Enhancer and Guaranteed Maturity Installments table please refer to the sales literature.


Death Benefit

Under Lump-sum Benefit and where all due premiums have been paid:

  • Death Benefit during the Policy Term is the, Sum Assured on Death%, as on the date of death. The policy will terminate on payment of the Death Benefit.
  • Death Benefit during the ELC Period (only if chosen) (ELC Period is after the policy term) is the Sum Assured on Death% as on the date of death. The policy will terminate on payment of the Death Benefit

Under Income Benefit and where all due premiums have been paid:

  • Death Benefit during the Policy Term is the Sum Assured on Death% as on the date of death. The policy will terminate on payment of the Death Benefit.
  • Death Benefit during payout period i.e. after the Policy Term is-
    • If ELC is chosen then the Sum Assured on Death% will be paid. The risk cover will terminate immediately and the Policy will terminate on payment of last GMI.
    • If ELC is not chosen, then the remaining GMI will be paid. The policy will terminate on payment of last GMI.

Extended Life Cover

At the inception of the policy, you will have the option to choose the Extended Life Cover (ELC) under the policy.

  • The amount of risk cover during the ELC Period is equal to the Sum Assured on Death%.
  • The ELC will start from the Maturity Date and will continue for an ELC Period equal to the duration of the PPT (in years), starting from the Maturity Date.
  • In Lump Sum Benefit, on death of the Life Assured, the Sum Assured on Death% will be paid and the Policy will terminate. In % Income Benefit, on death of the Life Assured, the Sum Assured on Death% will be paid, the risk cover will terminate immediately and the Policy will terminate on the payment of the last GMI.
  • Once chosen at inception, the ELC cannot be removed from the Policy

%Sum Assured on Death is the higher of (i) 10 times Annualized Premium*, (ii) 105% of total premiums* paid as on date of death, (iii) Sum Assured#

*Annualized Premium is exclusive of extra premium, rider premiums, and GST/any other applicable tax levied, subject to changes in tax laws, if any, and Total Premiums paid is equal to (Annualized Premium * number of years for which premiums have been paid).

Total Premium is exclusive of extra premium, rider premiums and GST/any other applicable tax levied, subject to changes in tax laws, if any. Please note that GST/any other applicable tax levied, subject to changes in tax laws will be collected over and above the premium under the Policy.

Please refer to the product brochure for detailed description on the above benefits.

Please refer to the product brochure for detailed description on the above benefits.

Parameters

Details

Minimum Entry Age

6 years

Maximum Entry Age

60 years

Minimum Age at Maturity

18 Years

Maximum Age at Maturity

72 years

The maximum maturity age does not include the ELC,if opted for or Income Period.

For policies purchased through POS channel, the maximum Age at Maturity will be as per prevailing POS guidelines, as amended from time to time

Maximum Age for termination of life cover (if ELC is opted)

84 years

For policies purchased through POS channel, the maximum Age for Termination of Life Cover (if ELC is opted for) will be as per prevailing POS guidelines, as amended from time to time 

Policy Term (PT) & Premium Payment Term (PPT)

Lump Sum Benefit

PT (in Years)

10

12

15

20

PPT (in Years)

5,7,10

5,7,8,12

5,7,8,10,12

5,7,8,10,12

 

Income Benefit

PT (in Years)

5

7

10

12

PPT (in Years)

5

7

5,7,10

5,7,12

 

 

Minimum Premium (₹)

Variant

Yearly

Half yearly

Quarterly

Monthly

Lump-sum

22,855

11,656

5,942

2,057

Income

28,822

14,699

7,494

2,594

Maximum Premium

As per Maximum Sum Assured

Minimum Sum Assured

₹1,00,000

Maximum Sum Assured

Based on Board Approved Underwriting Policy

(For policies purchased through POS channel, the maximum Sum Assured will be as per prevailing POS guidelines, as amended from time to time)

Premium Payment Frequency

Yearly, Half yearly, Quarterly and Monthly

Quarterly & Monthly premium payment frequency will be allowed only under auto-debit process (as per the approved RBI facilities)

The product is available for sale through online mode.

All the references to age are Age as on last birthday

Risk cover will commence immediately on the date of commencement of risk of the policy and, in the case of a minor life, policy will vest on the life assured on the earlier of attainment of majority (i.e., 18 years age last birthday) and on maturity date.

For policy purchased through POS channel no medical underwriting is required.

Premium will vary depending upon the Variant chosen

Disclaimer

DBS Bank India Limited (IRDA of India Registration Number: CA 0257) having the registered office at GF: Nos. 11 & 12, Capitol Point BKS Marg, Connaught Place, Delhi - 110001 is the Corporate Agent of Bajaj Allianz Life Insurance Company Limited. DBS Bank India Limited (Bank) does not underwrite the risk or act as an insurer. Guaranteed Income Goal (UIN: 116N170V10) is underwritten by Bajaj Allianz Life Insurance Company Limited. The contract of insurance is between the insurer and the insured and not between the Bank and the insured. Bank does not give any warranty, as to the accuracy and completeness of the policies. Bank does not accept any liability or losses attributable to your contract of Insurance. Participation by the Bank’s customers in the insurance products is purely on a voluntary basis and is not linked to availment of any other facility from the bank. ISNP registration valid.

The contents and product information of this web site are given strictly for your convenience and is indicative in nature and ‘as is’ received from the Insurer. Nothing contained herein is to be construed as advice, recommendation, offer for a policy or any other assistance. Bank does not guarantee that this website reflects latest amendments/ information at all times or at any time. Bank shall have no liability to the customer for any loss or damage of any kind incurred for reliance on the content and product information available on this website

For more details on risk factors, terms and conditions, exclusions, please read sales brochure of insurer and policy terms and conditions carefully before concluding a sale. Tax benefits are available as per the prevailing tax laws, which are subject to change.

For any information including cancellation, claims and complaints, please contact our Treasures Relationship Manager or visit DBS Bank India’s nearest branch office or Contact our 24-hour toll free customer service helpline number 1-800-209-4555 / 1-860-267-1234 or our overseas customer service number 91-44-66854555 or write to us at [email protected]. Visit us at: www.dbs.com/in

Risk Factors and Warning Statements: Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz Life  Guaranteed Income Goal are the names of the company and the product respectively and do not in any way indicate the quality of the product and its future prospects or returns. For more details on risk factors, terms and conditions please read sales brochures & policy document (available on www.bajajallianzlife.com) carefully before conducting a sale For more details on rider terms and conditions please read rider brochures (available on www.bajajallianzlife.com) carefully before conducting a sale. Bajaj Allianz Life Guaranteed Income Goal (UIN: 116N170V10). A Non-Linked Non-Participating Endowment Life Insurance Plan. Regd Office Address: Bajaj Allianz House, Airport Road, Yerawada, Pune – 411006. Reg. No.: 116. CIN: U66010PN2001PLC015959 | Mail us: [email protected] | Call On: Toll free no.: 1800 209 7272 | Fax No.: 02066026789. , The Logo of Bajaj Allianz Life Insurance Co. Ltd. is provided basis of license given by Bajaj Finserv Ltd. to use its “Bajaj” Logo and Allianz SE to use it “Allianz” Logo. All charges/taxes, as applicable, will be borne by the Policyholder.

BEWARE OF SPURIOUS FRAUD PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS - IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint

BJAZ-WC-EC-06464/24
(UIN: 116N157V10)