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

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  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.

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  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.

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  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.

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  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

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  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.

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  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.

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  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.

• 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.

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.

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.

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)

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.