Bajaj Allianz Life Smart Protection Goal
Aapke Life Goals ka back-up plan
Bajaj Allianz Life Smart Protection Goal
Planning your Life Goals is just the start, securing them against eventualities is the next step. Here is an affordable term plan with numerous options, to secure your Life Goals and help you live worry free. Bajaj Allianz Life Smart Protection Goal is an individual, life, non-linked, non-participating, limited/regular premium payment, savings (ROP)1 and pure risk term cover plan, providing protection.
1Note - If Whole Life is opted for, then ROP is not available Critical Illness Benefit, Return of Premium option & Whole of Life option can be chosen/opted at inception only and cannot be changed subsequently.
Key Features
- Comprehensive coverage with a multitude of features
- Option to choose Return of Premium (ROP)1 as Maturity Benefit
- Option to choose Whole of Life1 cover up to age 99 years
- Option to get covered for listed Critical Illnesses available
- Flexibility to opt for Limited or Regular Premium Payment Term
1Note - If Whole Life is opted for, then ROP is not available Critical Illness Benefit, Return of Premium option & Whole of Life option can be chosen/opted at inception only and cannot be changed subsequently .
Life Cover
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Death Benefit (Benefit payable on death of the Life Assured during the policy term)
Your nominee/legal heir will receive the Sum Assured (as chosen by you at inception). The policy will terminate on payment of Death Benefit.
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Maturity Benefit If ROP1 option has not been chosen, Maturity Benefit shall be NIL.
Optional Benefit (s)
Critical Illness Benefit (CIB):
- You can choose to opt for this Benefit. This Benefit will have a separate sum assured (CI Sum Assured).
- In case of diagnosis of any of the listed Critical Illnesses, Sum Assured chosen for Critical Illness Benefit is payable if the CIB Cover is in-force as on the date of CI occurrence, subject to the waiting period, cooling-off period and the survival period.
- In case of Minor CI other than Angioplasty, 25% of the CI Sum Assured will be payable.
- For Angioplasty, lower of 5 Lacs or 25% of CI Sum Assured, will be payable.
- A maximum of four (4) Minor CI including Angioplasty claims will be payable during the CIB cover period.
- For Major CI, 100% of CIB will be payable.
- The total claims paid under Minor and Major CI will not be more than 100% of CI Sum Assured.
- If CIB has been paid for four (4) Minor CIs including Angioplasty during cover period, no CIB will be payable for any future Minor CI. Any remaining CI Sum Assured shall be payable on the occurrence of a Major CI.
- Once claim is paid for Minor CI (including Angioplasty), no future claim will be paid for the same Minor CI. The remaining CI Sum Assured will continue for all listed CI's excluding the Minor CI for which the claim has already been paid.
- If ROP option is chosen and 100% of CI Sum Assured has not been claimed, on maturity the ROP will be a proportion of the total premiums paid* for CIB.
- If policy is in-force at the end of the CI Cover Period, if ROP feature was taken and if no claim has been paid w.r.t. the CI Benefit, then, ROP, w.r.t. the CI Benefit will be paid at the end of CI Cover Period.
Whole of Life: Life Cover up to age of 99 years:
This option is only available when limited premium payment option is chosen.
Return of Premiums (ROP)1:
(Maturity Benefit payable if the Life Assured survives till date of maturity and if no death claims have been made before the date of maturity)
- You will receive a Maturity Benefit equal to total premiums paid**, as a one-time lump sum on the date of maturity, and the policy will terminate.
- If You have opted for CIB and
- if no claim has been paid w.r.t. CIB, then, Maturity Benefit will be paid at the end of CI Policy Term.
- If any claim for Minor CI(s) has been paid, proportion of Maturity Benefit, as applicable, shall be payable under this Benefit, provided CI Sum Assured has not exhausted.
- CI Benefit shall immediately terminate on payment of this Benefit.
Note:
**Total Premiums paid shall be the total of all premiums received, exclusive of taxes, extra premium, loadings for modal premiums, if any. Please note that GST and cess, if any, will be collected over and above the premium under the policy.
The optional Benefit(s)can be chosen only at inception and cannot be altered during the term of the Policy.
Premium will vary depending upon the Optional Benefit(s) chosen.
1Return of Premium (ROP) is the total of all the premiums received through-out the PT or cover period for an LP & RP exclusive of extra premium and GST and cess, if any, respectively and separately, for the Life Cover or for the optional Critical Illness Benefit chosen if any.
If Whole Life is opted for, then ROP is not available.
Critical Illness Benefit, Return of Premium option & Whole of Life option can be chosen/opted at inception only and cannot be changed subsequently.
If ROP has been chosen as Maturity Benefit, the return of premium as maturity benefit will be applicable both on the premium paid for Life Cover and Critical Illness Benefit (if opted).
Bajaj Allianz Life Insurance Company Limited.
Risk Factors and Warning Statements: Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz Life Smart Protection 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. Bajaj Allianz Life Smart Protection Goal – A Non Linked, Non Participating, Individual Life Insurance Term Plan. Regd Office Address: Bajaj Allianz House, Airport Road, Yerawada, Pune – 411006. Reg. No.: 116. CIN: U66010PN2001PLC015959 | Mail us: customercare@bajajallianz.co.in | Call On: Toll free no.: 1800 209 7272. Bajaj Allianz Life Smart Protection Goal (UIN: 116N174V03), 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.
RBL Bank Limited is a Corporate Agent (IRDAI Regn No. CA0116) of Bajaj Allianz Life Insurance Company Ltd. Insurance is underwritten by Bajaj Allianz Life Insurance Company Ltd. Insurance is a subject matter of solicitation. There is no risk participation by RBL Bank Limited in the Insurance product sold by the Insurer. Purchase of any insurance products by you is purely voluntary.
BEWARE OF SPURIOUS 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-WP-ECNF-08044/24