Bajaj Allianz Life POS Goal Suraksha Plan

Bajaj Allianz Life POS Goal Suraksha Plan is an individual, non-linked, non-participating, limited premium payment, and non-medical POS (Point of Sale) endowment savings plan. This plan comes with quick processing and issuance without any medical check-ups.
This plan offers guaranteed maturity benefits apart from guaranteed additions on maturity and insurance coverage for the entire chosen policy term.

 

Key Features and Benefits

• 

  Maturity benefit

  If the policyholder pays all the premiums by the maturity date, then they will get the benefit of both the guaranteed sum assured and the guaranteed additions. The policy will be terminated once the maturity benefit is paid out.

• 

  Death coverage

  In case of unfortunate death of the life assured due to an accident during the waiting period or due to any cause after the waiting period, the death coverage is payable to the nominee(s)/beneficiaries. Such death coverage is stated as sum assured on death# which is as below:
  
  The sum assured on death is higher than
  • 10 times of annualised premium* or
  • 105% of total premiums** paid as on date of death of the life assured
  • Sum assured#
  
  * Annualized Premium is exclusive of extra premium, loading for modal premiums & Goods and Services Tax / any other applicable taxes levied, subject to change in tax-laws, if any.
  
  ** Total Premiums paid is equal to (Annualized Premium X Number of Years for which the premium has been paid) Total Premium is exclusive of Taxes and extra premium paid, if any.
  
  • # Guaranteed Sum assured on Maturity and Sum Assured is 10 Times the Annualized Premium

• 

  Alteration of premium payment frequency

  The policyholder will have the option to change the overall premium payment frequency under this policy at any policy anniversary, subject to the availability of the frequency and subject to the minimum modal premiums applicable under the product. The frequency factors are:
   

  Premium frequency	Monthly	Quarterly	Half-Yearly	Yearly
  Frequency Factor	1/12	¼	½	1

• 

  Surrender Value Benefit

  The policyholder can surrender the policy anytime. The surrender benefit will be available under the policy if the premiums for at least the first two full years have been paid.
  
  • The Surrender Benefit will be higher than Guaranteed Surrender Value (GSV) or the Special Surrender Value (SSV)

• 

  Loan under policy

  The policyholder can avail loan under the policy, provided that the policy has acquired a surrender benefit. The loan amount granted (cumulatively) shall be up to 75% of the surrender benefit available under the policy as of the date of the loan request being considered.

• 

  Guaranteed Additions (GA)

  On the maturity date, if all the premium dues have been paid, then the guaranteed addition as multiple of one annualised premium will be paid along with the maturity benefit. Guaranteed additions will not be payable in case of a lapse or paid-up policy.
   

  GA as multiple of one Annualized Premium)
  Age at Entry	Policy Term (PT) – Premium Payment Term (PPT)
  	10 - 7	15-5	15-7	15-8	15-10	15-12	20-5	20-7	20-8	20-10	20-12
  18 – 24	.01	.02	3.85	5.25	8.21	10.70	4.00	8.43	10.61	14.51	17.85
  25 – 34	.01	.02	3.39	4.74	7.48	9.81	3.28	7.62	9.72	13.38	16.14
  35 – 45	.01	.02	3.15	4.47	6.96	9.18	3.15	7.22	9.34	12.82	15.10
  46 - 55	.01	.02	2.63	3.89	6.70	8.85	NA	NA	NA	NA	NA

• 

  No medical check-up

  The cover comes with quick processing, which allows easy issuance without producing medical reports or documents for the customers. The insured does not need to undergo any medical tests to avail the benefits of this plan.

• 

  Free look period

  Within fifteen days of the receipt of this policy and thirty days in case of electronic policy and policy obtained through distance mode. The policyholder has the option to review the terms and conditions of the policy, and if they disagree with any of the terms and conditions, they will have an option to return it stating the reasons of objections, provided no claim has already been made in the policy. The policyholder shall be entitled to a refund comprising all the premiums (excluding applicable taxes) paid, less the proportionate amount of risk premium (for the period the life assured was on the cover) and the expenses incurred by the insurer on medical examination, stamp duty, and tax benefit.
  
  Premium paid, maturity benefit, death benefit, and surrender benefit may be eligible for tax benefits as per the extant income tax act, subject to the provision stated therein.
  *Waiting period is the first 90 days from the date of commencement of risk. The waiting period is not applicable in case of revival.
  **Total premiums paid is equal to (annualized premium X number of years for which premiums have been paid).
  

You are eligible for this policy as per the requirements given below:

You can follow these simple steps to buy this policy:

• To apply for the product, click on ‘Apply Now’ and fill in the necessary details in the application form.
• Make the fee payment online.
• If required opt for a call back from our representatives or complete the process by clicking ‘Buy now'.

BFL Helpline Number: 08698010101

Bajaj Allianz Life Insurance Helpline Number: 1800-209-7272

E-mail –  wecare@bajajfinserv.in

Mailing address:Ground Floor, Bajaj Finserv Corporate Office, Off Pune-Ahmednagar Road, Viman Nagar, Pune – 411014.