Bajaj Allianz life Smart Protect Goal
Additional Optional Benefits for you.
ADB rider premium can not be greater than 30% of base premium.
-
Additional Benefits
Sum Assured
Premium
Policy Term
PPT
-
Spouse Name
:
.....
-
Spouse Education
:
.....
-
Spouse DOB
:
.....
-
Working
:
.....
-
Smoking
:
.....
-
Spouse SA
:
Bajaj Allianz Life Smart Protect 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 Protect Goal is an individual, life, non-linked, non-participating, single/limited/regular premium payment, savings (ROP) and pure risk term (life & health) cover plan, providing protection and add-on covers.
Features & Benefits
- Comprehensive coverage with a multitude of features
- Life Cover – for Self
- Life Cover with Child Education Extra Cover (CEEC) – Inbuilt additional cover
- Life Cover with Joint Life – Cover for Self & Spouse
- Increasing Life Cover– Automatic increase in Life Cover
- Option to choose Return of Premium (ROP) as Maturity Benefit
- Option to choose Whole of Life cover up to age 99 years
- Add-on covers to choose from –
- Accidental Death Benefit (ADB)
- Accidental Total Permanent Disability Benefit (ATPDB)
- Critical Illness Benefit (CIB)
- Waiver of Premium Benefit (WOPB)
- Flexibility to opt for Single, Limited or Regular Premium
Key Features
-
Accidental Death Benefit(ADB)
‘Accident’ shall mean a sudden, unforeseen and involuntary event caused by external, visible, and violent means.
‘Accidental Death’ means death caused by sudden, violent, unforeseen and involuntary event caused by external and visible
means as revealed by an autopsy provided such death was caused directly by such Accident, and independently of any
physical or mental illness within one hundred and eighty (180) days of the date of Accident.
-
Accidental Total Permanent Disability(ATPD)
“Accidental Total Permanent Disability” shall mean disability of the rider Life Assured as a result of bodily injury caused by an
Accident (a sudden unforeseen and involuntary event caused by external and visible means) and such injury shall within
180 days of its occurrence solely, directly and independently of any other cause, result in the rider Life Assureds’ disability
which must be permanent and total.
For complete details please refer to the brochure.
-
Critical Illness Benefit (CIB)
- In case of diagnosis of any of the listed Critical Illnesses, Sum Assured chosen for Critical Illness benefit is payable
- In case of Minor CI other than Angioplasty, 25% of the CIB will be payable
- For Angioplasty, lower of 5 lakhs or 25% of CIB, 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
For complete details please refer to the brochure.
-
Waiver of Premium Benefit (WOP)
On occurrence of fourth (4th) Minor CI or on the date of occurrence of the first (1st) Major CI (incl. ATPD) or on the date of Death of the First Life Assured, whichever is earlier, all future premiums due under the policy will be waived and both WOPB-I & WOPB-II cover will terminate immediately and automatically.
For complete details please refer to the brochure.
-
Return of Premiums (ROP)
If no claim has been made for the Variant and/or for each Add-on cover(s), the total
premiums paid for the Variant and/or each of the Add-on cover(s) opted for, will be returned on their respective maturity dates. If Whole Life is opted, ROP will not be available.
For complete details please refer to the brochure
Surrender Benefit
Surrender Benefit is available, subject to below conditions –
- For Regular premium with ROP, if at least two (2) full years’ premiums under a policy are paid
- For Limited premium –
- with ROP only if at least two (2) full years’ premiums under a policy are paid
- without ROP option only after the premium payment term
- For single premium with/without ROP anytime
Tax Benefits
Premium paid may be eligible for tax benefits under section 80(c) of Income Tax Act. Return of Premiums, Death, Accidental
Death, Accidental Permanent Total Disability and Critical Illness may be eligible for tax benefits under section 10(10D) of the
Income Tax Act, subject to the provision stated therein.
You are requested to consult your tax consultant and obtain
independent advice for eligibility and before claiming any benefit under the policy.
Eligibility
Eligibility for this Variant
| Age at Entry |
Minimum 18 - Maximum 65 years |
| Maximum Age at Maturity |
With ROP |
75 years |
| |
Without ROP |
85 years |
| |
Whole Life |
99 years |
| Sum Assured |
|
Minimum - 50 lakhs |
Maximum - As per Board Approved Underwriting Guidelines |
| Policy Term (PT) / Premium Payment Term (PPT) |
| |
Premium Type for Variant |
Minimum |
Maximum |
| PT (years) |
PPT (years) |
PT (years) |
PPT (years) |
| Without ROP |
RP |
5 |
5 |
85 minus Age at Entry |
67 |
| LP7 |
6 |
5 |
85 minus Age at Entry |
30 |
| SP |
5 |
1 |
40 |
1 |
| With ROP |
RP |
10 |
10 |
75 minus Age at Entry |
57 |
| LP7 |
10 |
5 |
75 minus Age at Entry |
30 |
| SP |
10 |
1 |
40 |
1 |
| Whole Life |
RP |
Not Available |
| LP7 |
99 minus Age at Entry |
5 |
99 minus Age at Entry |
30 |
| SP |
Not Available |
Eligibility for Add-On Covers (if opted) with this Variant
| Age at Entry |
Minimum 18 - Maximum 65 years |
| Maximum Age at Maturity |
With ROP |
75 years |
| |
Without ROP |
80 years |
| |
Whole Life |
| Sum Assured for ADB / ATPDB |
Minimum 5 lakhs - Maximum 2 Crores |
| Sum Assured for CIB |
Minimum 5 lakhs - Maximum 1 Crore |
| Add-on cover |
Premium Type for Variant |
Minimum |
Maximum |
| PT (years) |
PPT (years) |
PT (years) |
PPT (years) |
| “ADB/ATPDB” Without ROP |
RP |
5 |
5 |
80 minus Age at Entry |
62 |
| LP7 |
6 |
5 |
80 minus Age at Entry |
30 |
| SP |
5 |
1 |
40 |
1 |
| “ADB/ATPDB” With ROP |
RP |
10 |
10 |
75 minus Age at Entry |
57 |
| LP7 |
10 |
5 |
75 minus Age at Entry |
30 |
| SP |
10 |
1 |
40 |
1 |
| “ADB/ATPDB” With Whole Life |
RP |
Not Available |
| LP7 |
6 |
5 |
80 minus Age at Entry |
30 |
| SP |
Not Available |
| “CIB & WOPB” Without ROP |
RP |
5 |
5 |
80 minus Age at Entry |
62 |
| LP7 |
5 |
5 |
30 |
30 |
| SP |
Not Available |
| “CIB & WOPB” With ROP |
RP |
10 |
10 |
75 minus Age at Entry |
57 |
| LP7 |
10 |
10 |
30 |
30 |
| SP |
Not Available |
| “CIB & WOPB” With Whole Life |
RP |
Not Available |
| LP7 |
5 |
5 |
30 |
30 |
| SP |
Not Available |
7For Limited Premium Payment & for Add-on Cover(s) opted, the PPTs available are 5, 10, 15, 20, 25, 30 years; subject to
maximum PPT cessation age of 75 years. For Limited Premium with ROP option, the minimum difference between PT and PPT
should be 5 years
Note:
- The cover period for CIB / WOPB will always be equal to CIB / WOPB Premium Payment Terms respectively
- However, the cover period and premium payment term for CIB can be less than or equal to the Variant Premium
Payment Term
- CIB is not available if Single Premium Payment has been opted for in the Variant
