Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance - POS Goal Suraksha Plan with sum assured up to Rs. 10 lakh starting at Rs. 450*/month

Key features and benefits of this policy

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Building your financial corpus with life insurance

Check out the benefits of investing in the right insurance plan.

  • Get a guaranteed sum assured at maturity

    Provided all due premiums are paid till maturity, the insured will receive a guaranteed sum assured on maturity.

  • Guaranteed additions on maturity

    The insured will receive guaranteed additions as a multiple of one annualised premium at maturity. This is provided all due premiums are paid.

  • Pay premiums for a limited term

    A limited premium paying term gives you the flexibility to pay premiums for a stipulated time. However, your policy cover stays active even beyond this time.

  • Alter premium payment frequency

    Get the flexibility to alter the premium payment frequency. The available frequencies are monthly, quarterly, half-yearly, and yearly.

  • Sum assured on death

    Sum Assured on death will be the higher of:
    10 times of annualised premium, or 105% of total premiums paid as on date of death, or the sum assured.

  • Option to take policy loan

    Get the option to take a loan of up to 80% of the surrender value under this policy. This is subject to the terms and conditions specified in the policy document.

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Eligibility criteria and documents required

Anyone can apply for the Bajaj Allianz POS Goal Suraksha Plan as long as they meet these basic criteria mentioned below. If you meet all the eligibility criteria, we will need a set of documents to complete your application process.

Eligibility criteria

  • Nationality: Indian
  • Age: 18 years to 55 years

Documents required

  •  Photograph of the proposer
  •  Age proof, such as PAN card, passport, voter’s ID, birth certificate.
  •  Address proof, such as telephone bill, electricity bill, aadhar card, etc.
  •  Identity proof such as aadhar card, passport, PAN card, etc.
  •  Income proof such as form-16, salary slips, employment certificate, etc.

Step-by-step guide to buy this policy

  • Step 1

    Step 1

    Click on ‘Get Quote’ to open our online application form.

  • Step 2

    Step 2

    Enter the required details – amount that you want to invest, name, date of birth, and contact number.

  • Step 3

    Step 3

    Choose your preferred plan from the list of products shown by clicking ‘Buy Now’.

  • Step 4

    Step 4

    Our representative will call you back and explain the products available for you to take an informed decision.

Policy details

Here’s a quick look at the policy details of Bajaj Allianz POS Goal Suraksha Plan:

Policy details Description
Policy type Individual
Minimum premium amount (in Rs.) Yearly: 3,000 | Half-yearly: 2,100 | Quarterly: 1,250 | Monthly: 450
Minimum sum assured (in Rs.) 30,000
Maximum sum assured (in Rs.) 10 lakh
Policy term (PT) and Premium payment term (PPT) Policy Term - 10 years | Premium payment term – 7 years; Policy term – 15 years | Premium payment term – 5, 7, 8, 10, and 12 years; Policy term – 20 years | Premium Payment Term – 5, 7, 8, 10, and 12 years
Premium payment frequency Yearly, half-yearly, quarterly, and monthly. Quarterly and monthly premium payment frequency is available only under the auto-debit process. This is as per the approved RBI facilities

Key inclusions and exclusions

Here’s a quick look at the inclusions and exclusions under the Bajaj Allianz POS Goal Suraksha Plan:

  • Key inclusions
  • Key exclusions
Key inclusions Description
Maturity benefit Your policy's Guaranteed Amount Assured on Maturity plus Guaranteed Additions will be paid on maturity, if all premiums are paid
Death benefit Sum Assured on death will be higher of: 10 times of annualised premium or 105% of total premiums paid as on date of death or the sum assured. In case of death during the waiting period, the death benefit payable to the nominees or beneficiaries will be the: 100% of total premiums paid to date, excluding any extra premium, rider premium, and GST or any other applicable tax levied
Guaranteed additions The insured will receive the maturity benefit and guaranteed additions as a multiple of one annualised premium
Key exclusions Description
Suicide The nominee will receive at least 80% of the total premium paid or the surrender value. Only if the insured commits suicide within 12 months of risk commencement or policy renewal, whichever is later

How to raise a claim

Follow these steps to raise claim requests for Bajaj Allianz POS Goal Suraksha Plan.

  • Register your claim request

    Step 1 - Register your claim request

    Register the claim request with the insurer through their website, e-mail or by calling their claim assistance contact number.
    Contact No.: 1800 2201 02
    Email at: balic.healthclaims@healthindiatpa.com

  • Submit the required documents

    Step 2 - Submit the required documents

    Submit the necessary documents along with the duly filled claim form online. You can also submit it to the nearest branch of the insurer.

  • Claim settlement

    Step 3 - Claim settlement

    The insurer will assess the claim request. The claim initiator will receive the status via e-mail and SMS. The claim initiator can also check it online on the insurer’s website.

Documents required for raising a claim request

Here is the list of documents that you need to raise a claim for Bajaj Allianz POS Goal Suraksha Plan.

  • Original policy documents
  • Attested copy of death certificate issued by local municipal authority
  • Death claim intimation form
  • NEFT mandate form attested by bank authorities or copy of cancelled cheque or bank account passbook
  • Nominee's photo identity and address proof. This includes copy of passport, voter identity card, aadhar (UID) card, etc.
  • FIR copy or post-mortem report in case of an accidental/unnatural death

Frequently asked questions

What is the maturity benefit available under the Bajaj Allianz POS Goal Suraksha plan?

On the maturity date, the insured will get the guaranteed sum assured on maturity plus guaranteed additions. This is provided all due premiums are paid. Post this, the policy will terminate.

What is the death benefit available under this policy?

In case of death due to an accident during or after the waiting period, the nominee or beneficiary will receive the death coverage.
The sum assured on death will be higher of:
1. 10 times of annualised premium
2. 105% of total premiums paid as on date of death,
3. Sum assured
In case of death during the waiting period other than due to an accident, the nominee will receive a death coverage. This will be:
100% of total premiums paid to date, rider premium, and GST or any other applicable tax levied, subject to changes in tax laws.
The policy will terminate on payment of the death benefit.
The waiting period is the first 90 days from the date of commencement of risk and is not applicable in case of revival.

Can you alter the premium payment frequency under this plan?

You will have the option to change the premium payment frequency under this policy at any policy anniversary. The available frequencies are – monthly, quarterly, half-yearly, and yearly.

Is there any loan facility available under this policy?

Yes. This policy provides a loan facility once it acquires a surrender value. The policyholder can take a loan of a maximum amount of 75% of the surrender value of the policy.

Are there any tax benefits available under this policy?

You can get tax benefits on premiums paid for this policy under applicable tax laws.

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Disclaimer

*T&C Apply - 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 Company Limited, ACKO General Insurance Limited, ICICI Lombard General Insurance Company Limited, HDFC ERGO General Insurance Company Limited, Tata AIG General Insurance Company Limited, Niva Bupa Health Insurance Company Limited , Aditya Birla Health Insurance Company Limited, Manipal Cigna Health Insurance Company Limited and Care Health Insurance Company Limited under the IRDAI composite CA 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 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 Bajaj Allianz POS Goal Suraksha Plan UIN: 116N155V05. Please refer 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 which are subject to change in future. Please consult your tax advisor for more details. Visitors are hereby informed that by providing their personal or any information on our website they agree and understand that the information submitted by them may be shared with insurers.

Note – While we have made all efforts and taken utmost care in gathering precise information about the products, features, benefits, etc. However, BFL cannot be held liable for any direct or indirect damage/loss. We request our customers to conduct their research about these products and refer to the respective product’s sales brochures before concluding their sale.