Bajaj Allianz Life Guaranteed Income Goal

Benefits

Key Features

• Choice of 2 Variants: Depending up on your Life Goal: Income Benefit and Lump-Sum Benefit
• Guarantee: Guaranteed^ increasing income under income Benefit
• Extended Life cover: Option to extend your Life Cover beyond your Policy Term.
• Flexibility: Multiple Policy Terms & Premium Payment Terms to choose from
• Choice of 5 Riders to Enhance Cover: Avail additional risk cover through Riders on payment of additional premium.

^Conditions apply. The Guaranteed benefits are dependent on the policy term, premium payment term availed along with other variable factors. For details ,please refer to sales brochure (Also available on www.bajajallianzlife.com).

How does the plan work? (Illustration)

You can customize your policy to suit your requirement in the following manner:

Step 1 : Choose the variant as mentioned below:

• Income Benefit
• Lump-sum Benefit

Step 2 : Choose the Sum Assured

Step 3 : Option to choose Extended Life Cover (ELC) To extend your Life Cover beyond your Policy Term

Step 4 : Choose your Policy Term (PT)

Step 5 : Choose your Premium Payment Term (PPT) from available options

The premium calculated will depend up on the variant & options chosen by you as mentioned above

Note –

• Variant can be chosen at inception only cannot be changed subsequently
• ELC option has to be chosen at inception only and cannot be opted for or opted out of (once chosen) subsequently
• Please note that the Basic Sum Assured is lower than the total premiums paid and varies between 16.40% to 70.64%. of the total premiums paid depending upon the age of the Life assured, policy term, premium paying term

Key Benefits

Maturity Benefit

Guaranteed Maturity Benefit (GMB) :

• If Lump-sum Benefit option is chosen by you, on the Maturity Date, if all premiums are paid, your Guaranteed Maturity Benefit payable as Lump-sum will be an enhanced percentage of your Sum Assured. This is called as Guaranteed Enhancer (GE)
• The Guaranteed Maturity Benefit will be subject to minimum of 100% of Total Premium* paid under the policy

Guaranteed Maturity Instalments (GMI) :

• If Income Benefit option is chosen by you, on the maturity date, if all premiums are paid, your Guaranteed Maturity Benefit will be paid in yearly, half-yearly, quarterly or monthly installments (as chosen by you at the inception of the policy). These are called as Guaranteed Maturity Instalments (GMI), and will be paid at the end of the GMI year for a period equal to your Premium Payment Term (PPT).

For full information on Guaranteed Enhancer and Guaranteed Maturity Installments table please refer to the sales literature.

Death Benefit

Under Lump-sum Benefit and where all due premiums have been paid:

• Death Benefit during the Policy Term is the, Sum Assured on Death^%, as on the date of death. The policy will terminate on payment of the Death Benefit.
• Death Benefit during the ELC Period (only if chosen) (ELC Period is after the policy term) is the Sum Assured on Death^% as on the date of death. The policy will terminate on payment of the Death Benefit

Under Income Benefit and where all due premiums have been paid:

• Death Benefit during the Policy Term is the Sum Assured on Death^% as on the date of death. The policy will terminate on payment of the Death Benefit.
• Death Benefit during payout period i.e. after the Policy Term is-
  • If ELC is chosen then the Sum Assured on Death^% will be paid. The risk cover will terminate immediately and the Policy will terminate on payment of last GMI.
  • If ELC is not chosen, then the remaining GMI will be paid. The policy will terminate on payment of last GMI.

Extended Life Cover

At the inception of the policy, you will have the option to choose the Extended Life Cover (ELC) under the policy.

• The amount of risk cover during the ELC Period is equal to the Sum Assured on Death^%.
• The ELC will start from the Maturity Date and will continue for an ELC Period equal to the duration of the PPT (in years), starting from the Maturity Date.
• In Lump Sum Benefit, on death of the Life Assured, the Sum Assured on Death^% will be paid and the Policy will terminate. In % Income Benefit, on death of the Life Assured, the Sum Assured on Death^% will be paid, the risk cover will terminate immediately and the Policy will terminate on the payment of the last GMI.
• Once chosen at inception, the ELC cannot be removed from the Policy

^%Sum Assured on Death is the higher of (i) 10 times Annualized Premium*, (ii) 105% of total premiums* paid as on date of death, (iii) Sum Assured^#

^{*Annualized Premium is exclusive of extra premium, rider premiums, and GST/any other applicable tax levied, subject to changes in tax laws, if any, and Total Premiums paid is equal to (Annualized Premium * number of years for which premiums have been paid).}

^{Total Premium is exclusive of extra premium, rider premiums and GST/any other applicable tax levied, subject to changes in tax laws, if any. Please note that GST/any other applicable tax levied, subject to changes in tax laws will be collected over and above the premium under the Policy.}

Please refer to the product brochure for detailed description on the above benefits.

Risk cover will commence immediately on the date of commencement of risk of the policy and, in the case of a minor life, policy will vest on the life assured on the earlier of attainment of majority (i.e., 18 years age last birthday) and on maturity date.

For policy purchased through POS channel no medical underwriting is required.

Premium will vary depending upon the Variant chosen