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Bajaj Allianz Smart Protect Goal Plan – Life Cover

The Bajaj Allianz Smart Protect Goal Plan is a non-linked, non-participating single/limited/regular premium payment, savings (return of premium) and pure risk-term cover plan. This plan comes with many protections, features and add-on covers that help individuals handle uncertainties of their lives, without compromising on their lifelong savings.

With the Bajaj Allianz Smart Protect Goal plan, you can protect your family against any financial burden in your absence.


Key Features & Benefits

  • Comprehensive coverage

    Starting with a minimum life insurance cover of Rs. 50 lakh to maximum possible cover that can be granted as per approved underwriting guidelines, the policyholder can ensure complete financial security of their family, matching his financial requirements.

  • Lowest premiums and high coverage

    This plan offers affordable premiums with high sum assured amounts to keep you prepared for more and helps to achieve your life goals.

  • Tailor-made insurance plans

    This is a customised term insurance plan that suits every need of the policyholder as it comes with many plan variants like:
    • Life cover
    • Life cover with child education extra cover
    • Life cover with joint life
    • Increasing life cover

    Note: The points discussed herewith are with reference to “life cover” variant of Bajaj Allianz Life Smart Protect Goal.

  • Plans that fits all

    This insurance plan caters to every need of the policyholder, as it comes with many plan variants like:
    • Life Cover
    • Life Cover with Child Education Extra Cover
    • Life Cover with Joint Life
    • Increasing Life Cover

  • Flexibility to opt for Add-ons

    This plan gives you the flexibility to choose from the add-on covers like:
    • Accidental death coverage: In case of death due to an accident, the chosen sum assured will be payable.
    • Accidental Total Permanent Disability Benefit (ATPDB): In case of occurrence of total permanent disability of the life assured due to an accident, then sum assured under ATPDB is payable
    • Critical illness benefit (CIB)
    a) In case of diagnosis of any of the listed critical illnesses, the policyholder will receive the sum assured.
    b) For angioplasty, lower than Rs. 5 lakhs or 25% of CIB, will be payable. A maximum of four minor critical illness including angioplasty claims will be payable during the CIB cover period.
    c) For major critical illness, 100% of CIB will be payable
    • Waiver of Premium Benefit (WOPB-I) on critical illness including APTD On the occurrence of fourth minor critical illness or on the date of occurrence of the first major critical illness (including ATPD), whichever is earlier, all future premiums that are due under the policy will be waived off, and WOPB-I cover will terminate immediately and automatically.
    a) WOPB-1 will operate on variant and add-on cover(s) opted.
    b) The cover period of WOPB will always be equal to WOPB premium payment terms.
    c) However, the cover period and premium payment term for WOPB-I will always be equal to the variant premium payment term.

  • Free Look Period

    The policyholder shall have an option to review the terms and conditions of the policy, and if he/she disagrees to any of the terms and conditions, the policyholder shall have an option to return the policy stating the reasons for objections. The policyholder shall be entitled to a refund comprising of all premiums paid, excluding applicable taxes. For the period that the life assured was covered, the proportionate amount of risk premium including proportionate amount of rider premium will be deducted. Any expenses incurred by the company on account of medical examination and stamp duty charges are non-refundable.

  • Tax Benefit

    Premium paid, maturity benefit, death cover and surrender benefit may be eligible for tax benefits as per the Income Tax Act, 1961, subject to the provision stated therein. You are requested to consult your tax-consultant and obtain independent advice for eligibility, before claiming any benefit under the policy.

Eligibility Details

Bajaj Allianz Life Smart Protect Goal Plan – Life Cover Without Return of Premium
Insurer Name Bajaj Allianz Life Insurance Company Ltd.
Minimum – Maximum Age at Entry Minimum: 18 Years Maximum: 65 Years
Maximum Age at Maturity 85 Years
Sum Assured Minimum: 50 Lakh Maximum: As per Board UW Guidelines
Policy Term (PT) / Premium Payment Term (PPT)
Variant Premium Type Minimum Maximum
PT in Yrs. PPT in Yrs. PT in Yrs. PPT in Yrs.
Without ROP
RP 5 5 85 – age at entry 67
LP 6 5 85 – age at entry 30
SP 5 1 40 Yrs. 1

To know more about our other policy variants, with return of premium and whole life cover, please refer to the policy wordings

How to Purchase the Policy?

  • To apply for the Bajaj Allianz Smart Protect Goal Plan, click on the “Apply Now” button and fill in your basic and health details.
  • Ensure that the information given in the form is complete and accurate.
  • The insured may be required to undergo a pre-policy medical examination at the insured’s network diagnostic centers.
  • Policy schedule, policy wordings, cashless cards and health guide will be sent to your mailing address.

List of documents to buy the policy

The following mandatory documents will be needed to purchase the policy:

  • Photograph of the applicant
  • Age proof such as birth certificate, voter’s ID, PAN card, passport etc.
  • Identity proof such as passport, aadhaar card, PAN card, voter’s ID, etc.
  • Income Proof such as form 16, salary slips, employment certificate etc.
  • Address proof such as telephone bill, electricity bill, passport, bank statement, voter’s ID, etc.

Claim Settlement Process

The claim processing is followed in three quick and simple steps: :

  • Claim reporting: After getting the claims form, fill it and attach all necessary documents, and submit it at the insurer’s branch. Do reach out to the insurer's insurance consultant for any assistance.
  • Claim processing: The insurer will assess your claim and be in touch with you via SMS, e-mail or call, in case any further documents are required.
  • Claim settlement: Once all required documents are received and verified, the insurer will settle the claim by following the terms and conditions of the policy purchased.

List of Documents Required for Claim

The following mandatory documents will be needed to process claims:

  • Original policy documents
  • Attested copy of death certificate issued by the local municipal authority
  • Death/critical illness/disability/hospitalisation claim intimation form (download form)
  • NEFT mandate form attested by bank authorities or copy of cancelled cheque or bank account passbook
  • Nominee's photo identity and address proof such as a copy of passport, voter identity card, aadhar (UID) card, etc.
  • Copy of medical records (admission notes, discharge/ death summary, test reports etc.)
  • Attending physician’s statement
  • Employer certificate
  • First Information Report (FIR) or panchnama /police complaint, in case of accidental Death
  • Postmortem report
  • Final police investigation report (if any)

Claim/Assistance Contact Details

BFL Helpline Number: 08698010101

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

E-mail –

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

*For claim related issues please refer your policy document or certificate of insurance (COI).


Bajaj Finance Limited (BFL) is a registered corporate agent of third party insurance products of Bajaj Allianz Life Insurance Company Limited, HDFC Life Insurance Company Limited, Future Generali Life Insurance Company Limited, Bajaj Allianz General Insurance Company Limited, SBI General Insurance Co. Ltd, ACKO General Insurance Co. Ltd., Niva Bupa Health Insurance Company Limited, Aditya Birla Health Insurance Company Limited and Manipal Cigna Health Insurance Company Limited under the IRDAI composite registration number CA0101.

Please note that BFL does not underwrite the risk or act as an insurer. Your purchase of an insurance product is purely on a voluntary basis after your exercise of an independent due diligence on the suitability, viability of any insurance product. Any decision to purchase an insurance product is solely at your own risk and responsibility and BFL shall not be liable for any loss or damage that any person may suffer, whether directly or indirectly. This product provides insurance coverage under the product name Bajaj Allianz Life Smart Protect Goal UIN: 116N163V01 Please refer to the insurer's website for Policy Wordings. For more details on risk factors, terms and conditions and exclusions please read the product sales brochure carefully before concluding a sale. Tax benefits applicable if any will be as per the prevailing tax laws. Tax laws are subject to change. BFL does NOT provide Tax/Investment advisory services. Please consult your advisors before proceeding to purchase an insurance product.

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