Bajaj Allianz Life Insurance:Compare Plans, Features, Benefits

Bajaj Allianz Life Insurance Company is one of the most prominent private sector insurance companies in India. Established in the year 2001, it is a joint venture between Bajaj Finserv Limited, Indian Financial Services Company with a part of the Bajaj Group and Allianz SE, leading insurance company in the world. The company operates across the country with 509 branches, over 90,000 agents and its multi-distribution channels. Bajaj Allianz Life Insurance Company offers a wide spectrum of life insurance products and innovative investment products to meet life goals. With its diversity and widespread presence, the company has received many awards and recognition for its consistent contribution to the insurance industry. Following are some of the awards received by the company:

• In 2020, the company recorded its name in the Guinness Book Of World Records with the Bajaj Allianz Life Plankathon
• Bajaj Allianz Life is ranked amongst the Top 75 Most Valuable Indian Brands 2019
• The company has won the ‘Networking Transformation Award’ at the Citrix Digital Transformation Awards 2019
• The company has won NASSCOM ‘’Customer Service Excellence Award’’ 2018
• The company has won SiliconIndia ‘’Brand of the Year’’ award

Products offered by Bajaj Allianz Life Insurance includes term plans, savings plans, investment plans, health care plans, retirement plans, child insurance plans, micro insurance, group insurance and ULIPs.

Benefits of Bajaj Allianz Life Insurance

Following are the benefits of policies offered by Bajaj Allianz Life Insurance

1. Protection:
   The policies offer complete financial protection against the uncertainties of life by providing adequate coverage to the insured’s family
2. Helps achieve life goals:
   Diverse products offered by Bajaj Allianz Life offer investment options for various long-term life goals and to build an adequate corpus to meet those goals
3. Customisation:
   The policies come with various options, benefits and features which can be customised based on one’s goals and needs
4. Flexibility:
   The policies offer flexibility in many ways – premium payment, choosing policy term and plan option and payout options
5. Convenience:
   Most of the policies are offered on a digital platform which makes it convenient for the users along with saving the time
6. Quick claim settlement:
   claim settlement is quick involving a simple process. For health claims, cashless facility is given which makes it faster
7. Instant services:
   There are various instant services offered such as claim assistance, 24/7 customer support and buying online
8. High Claim Settlement Ratio
   The company recorded a CSR of 98.48 in the financial year 2020-21
9. Lives Covered
   The company has covered over 2.36 crore individual and group lives
10. Accessibility:
    With a wide network and digital presence, insurance solutions and services are easily accessible
11. Innovative features and additional benefits:
    Policies offer various innovative features and optional additional riders to enhance the coverage
12. Tax benefit:
    Premiums paid for Bajaj Allianz Life Insurance plans provide tax benefit under Section 80C of the Income Tax Act. Premium paid for health care policy provides tax benefit under Section 80D of the Income Tax Act.

Types of Plans Offered by Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance Company offers a diverse range of products. Following is the product portfolio of the company:

1. Term Plans
2. Savings Plans
3. Investment plans
4. ULIP
5. Health Care Plan
6. Retirement Plans
7. Child Insurance Plans
8. Group Insurance Plans
9. Micro Insurance Plans

There are various plans offered under each category of product. Let’s learn from each of the plans offered under the product category.

1. Bajaj Allianz Term Plans

Bajaj Allianz Life Insurance Company offers various term insurance plans both on the offline and online platform.

Bajaj Allianz Life Smart Protect Goal

Bajaj Allianz Life Smart Protect Goal is an individual, non-participating savings and term cover life plan. The policy is specially designed with extravagant features and add-on covers to enhance the protective cover for the policyholder’s family.

Key features of Bajaj Allianz Life Smart Protect Goal:

1. The plan offers life cover for the policyholder
2. It comes with an option to choose the return of premium(ROP) as a Maturity Benefit.
3. Offers a provision to choose life cover for the whole life (99 years of age)
4. Addon covers like accidental death benefit, critical illness cover, and waiver of premium benefits are available for the policyholder to opt for.
5. Flexibility in the premium payment modes.

Bajaj Allianz Life Saral Jeevan Bima

Bajaj Allianz Life Saral Jeevan Bima is an individual, non-linked pure risk premium life insurance plan that has been carefully designed to protect the lives of your loved ones in a much better way. The plan promises to pay the sum assured in case the policyholder dies during the policy term. 

Key features of Bajaj Allianz Saral Jeevan Bima policy:

1. The death benefit is offered to help the family with financial support in case of an unfortunate death. 
2. Life cover available for up to 40 years
3. Flexibility in the premium payment mode.

a) Bajaj Allianz iSecure Plan

Bajaj Allianz iSecure Plan offered by Bajaj Allianz Life Insurance Company is an online term insurance plan that essentially protects the insured family in the event of uncertainties like death. The policy comes with various amazing features to meet the financial needs of the family.

Features of Bajaj Allianz iSecure Plan

1. Adequate life cover at a low premium rate
2. High sum assured rebate
3. Flexibility to include a spouse in the same policy to avail joint life cover along with offering a joint-life rebate on premium
4. Option to receive death benefits in equal monthly instalment for five or ten years
5. Flexibility to choose the policy term
6. Discounted rate for people with a healthy lifestyle

Eligibility Criteria for Bajaj Allianz iSecure Plan:

Eligibility Criteria	Minimum	Maximum
Entry age	18 years	60 years
Maturity age	28 years	70 years
Policy term	10,15,20,25 and 30 years
Sum assured	INR 2,50,000	No limit
Premium payment term	Same as policy term
Premium payment frequency	Yearly/half-yearly/quarterly/monthly

b) Bajaj Allianz iSecure More Plan

Bajaj Allianz iSecure More Plan is a non-participating, increasing life cover policy that ensures the financial stability of insured’s family in the event of uncertainties with many of its amazing features

Features of Bajaj Allianz iSecure More Plan

1. Life cover under the plan increases annually at the rate of 5% up to a maximum of twice the sum assured chosen at the time of purchase
2. Though policy can be purchased for a single life, it can be converted as a joint life policy later by adding a spouse under the policy
3. High sum assured rebate for sum assured of more than INR 5 lakhs
4. Death benefit payouts can be availed in instalments

Eligibility Criteria for Bajaj Allianz iSecure More Plan

Eligibility Criteria	Minimum	Maximum
Entry age	18 years	60 years
Maturity age	28 years	70 years
Policy term	10,15,20 and 25 years
Sum assured	INR 2,50,000	No limit
Premium payment term	Same as the policy term
Premium payment frequency	Yearly/ half-yearly/ quarterly/ monthly modes

c) Bajaj Allianz iSecure Loan Plan

Bajaj Allianz iSecure loan is a non-participating, mortgage cover term plan that is designed to provide financial security to insured’ family against loan dues in case of uncertainties. With many promising features, the plan helps the family to focus on goals in difficult times.
Features of Bajaj Allianz iSecure Loan Plan

1. The plan comes with a reducing cover which benefits in the way of a lower premium. As the loan amount reduces, coverage also reduces year on year
2. High sum assured rebate for sum assured of more than INR 5 lakhs
3. Flexibility to choose the policy term
4. The policy offers joint life cover

Eligibility Criteria for Bajaj Allianz iSecure Loan Plan

Eligibility Criteria	Minimum	Maximum
Entry age	18 years	60 years
Maturity age	28 years	65 years
Policy term	10,15,20 and 25 years
Sum assured	INR 3,00,000	No limit
Premium payment term	2/3rd of the policy term chosen (rounded down in years)
Premium payment frequency	Yearly/half-yearly/quarterly/monthly

d) Bajaj Allianz Life Secure Plan

Bajaj Allianz Life secure plan is a non-linked, whole life term assurance plan that provides lifelong coverage to the insured to help him/her to leave behind the legacy for loved ones. The policy comes with various amazing features.
Features of Bajaj Allianz Life Secure Plan

1. Lifelong cover which is up to 100 years. If the insured survives for more than 100 years, the sum assured minus benefits paid, if any will still be paid on completion of 100 years
2. Flexibility to choose the coverage benefits – death benefits (I) or death benefit + accidental death benefit (II) or death benefits + accelerated critical illness + waiver of premium benefit (III)
3. Facility to pay the premium for a limited term
4. High sum assured rebate for choosing the sum assured of INR 20 lakhs and above

Eligibility Criteria for Bajaj Allianz Life Secure Plan

Eligibility Criteria	Minimum	Maximum
Entry age
Coverage option I and II	25 years	55 years
Coverage option III	25 years	50 years
Maturity age	–	100 years
Policy term	(100 –the age at entry) years
Sum assured	INR 20,00,000	No limit
Premium payment term	5,7,10 and 15 years
Premium payment frequency	Yearly/half-yearly/quarterly/monthly

e) Bajaj Allianz Lifestyle Secure Plan

Bajaj Allianz Lifestyle secure plan is a non-linked, non-participating level term assurance plan that comes with the in-built benefit of a terminal illness. The plan comes with remarkable features that ensure the insured’s family lifestyle is maintained during the uncertainties of life.

Features of Bajaj Allianz Lifestyle Secure Plan

1. In the event of death or terminal illness of the insured, the benefit is paid in equal monthly instalments of up to 240 months depending on the term chosen
2. The entire sum assured is paid as per the inbuilt accelerated terminal illness cover
3. No medical examination is needed
4. Death or terminal illness benefit can also be taken in a lump sum
5. High sum assured rebate of INR 2.75 for every INR 1,000 for a sum assured of more than INR 3 lakhs

Eligibility Criteria for Bajaj Allianz Lifestyle Secure Plan

Eligibility Criteria	Minimum	Maximum
Entry age	18 years	50 years
Maturity age	23 years	60 years
Policy term	5,7,10,15 and 20 years
Sum assured	INR 3,00,000	INR 15,00,000
Premium payment term	Same as the policy term
Premium payment frequency	Yearly/half-yearly/quarterly/monthly

f) Bajaj Allianz eTouch Online Term Plan

Bajaj Allianz eTouch online term plan is a comprehensive plan that offers financial protection during uncertainties such as death, accidental disability and critical illness. The policy comes in many variants to suit the needs of every individual.

Features of Bajaj Allianz eTouch Online Term Plan

1. Comprehensive protection that includes life cover combined with benefits on accidental death, accidental total permanent disability and critical illness and waiver of premium
2. Flexibility to choose from four different variants – shield, shield plus, shield super and shield supreme
3. Benefits can be either received in a lump sum or in monthly instalments
4. Discount on premium rates for a healthy lifestyle
5. Flexible premium payment options and policy terms to choose from

Eligibility Criteria for Bajaj Allianz eTouch Online Term Plan

Eligibility Criteria	Minimum	Maximum
Entry age	18 years	65 years
Maturity age	28 years	75 years
Policy term	10 years	40 years
Sum assured
Life cover	INR 50,00,000	No limit
Accidental death, ATPDB	INR 50,00,000	INR 2 Cr
Accelerated Critical Illness	INR 50,00,000	INR 75,00,000
Premium payment term	Same as the policy term
Premium payment frequency	Yearly/half-yearly/quarterly/monthly

g) Bajaj Allianz Total Health Secure Goal Plan

This plan is a combination of life and health insurance that offers complete health care along with life cover.
Features of Bajaj Allianz Total Health Secure Goal Plan

1. Combination of life cover and health cover
2. In-house claim administration to speed up the process
3. Single touch-point for all communications
4. Additional discount of 5% for the combi plan

Eligibility Criteria for Bajaj Allianz Total Health Secure Goal Plan

Eligibility Criteria	Minimum	Maximum
Entry age	18 years	60 years
Policy term	10,15,20,25 and 30 years (life cover), health cover renewable for life
Sum assured
Life cover	INR 2,50,000	No limit
Health cover	INR 1,50,000	INR 50,00,000
Premium payment term	Same as the policy term
Premium payment frequency	Yearly

2. Bajaj Allianz Savings Plan

Bajaj Allianz Life Insurance Company offers a variety of savings plans that offer savings + protection benefits that help in achieving life goals.

List of Bajaj Allianz Savings Plan

Bajaj Allianz Life Flexi Income Goal 

Bajaj Allianz Life Flexi Income Goal is a plan that is designed in a way to fund the life goals of every individual. The plan comes with regular income, lump sum income or a mixture of both of them as per the requirements of the policyholder. Apart from this, other benefits like Joint Life Cover, waiver of premium, etc are also there to make the plan even more efficient. 

Features of Bajaj Allianz Flexi Income Goal:

• Provides cash benefits from the first month itself.
• Offers 100% of sum assured as guaranteed monthly income right from the end of premium payment term till maturity.
• Option to choose joint life cover or accumulate survival benefits to earn returns.
• Maturity booster equal to 50% of the sum assured shall be available at maturity.

Bajaj Allianz Life Guaranteed Saving Goal

Bajaj Allianz Life guaranteed saving goal is a non-linked, life insurance plus endowment plan that has been crafted to ensure our future is in safe hands. This is a plan that comes with a lot of options that makes the plan much more efficient. 

Key Features of Bajaj Allianz Life Guaranteed Saving Goal:

• Offers guaranteed increasing income
• The policy offers a provision to extend life cover beyond the premium payment term
• Offers a choice between two variants, income benefit and lump sum benefit.
•  Multiple policy terms and premium payment terms are available to choose from

a) Bajaj Allianz Guaranteed Income Goal Plan

This plan is a non-linked, non-participating endowment plan that comes with guaranteed benefits that take investor close to life goals.

Features of Bajaj Allianz Guaranteed Income Goal Plan

1. Flexibility to choose between two different variants – lump sum benefit or income benefit
2. Guaranteed maturity benefit can be availed in a lump sum or insured can choose to receive guaranteed income for a period equal to the premium payment term
3. Facility to extend the life cover beyond the policy term
4. Flexibility to choose the combination of premium payment and policy term
5. Facility to avail loan against the policy
6. Five additional optional riders to enhance the coverage

Eligibility Criteria for Bajaj Allianz Guaranteed Income Goal Plan

Eligibility Criteria	Minimum	Maximum
Entry age	6 years	60 years
Maturity age	18 years	72 years can be extended up to 84 years
Sum assured	INR 1,00,000	No limit
Premium payment frequency	Yearly/half-yearly/quarterly/monthly

	Policy term	Premium payment term
Lump-sum benefit	Policy of 10 years	PPT= 5,7 and 10 years
	Policy of 12 years	PPT= 5,7 and 12 years
Income benefit	Policy of 5 years	PPT= 5 years
	Policy of 7 years	PPT= 7 years
	Policy of 10 years	PPT= 5,7 and 10 years
	Policy of 12 years	PPT= 5,7 and 12 years

b) Bajaj Allianz Save Assure Plan

Bajaj Allianz Save Assure Plan is a limited premium non-participating endowment plan that offers guaranteed benefits to secure the family during uncertainties along with the benefit of savings.

Features of Bajaj Allianz Save Assure Plan

1. Guaranteed maturity and death benefits of 115% of the sum assured is offered by the plan
2. High sum assured rebate for sum assured of more than INR 1 lakh up to maximum rebate of INR 70,000
3. Five additional optional riders to enhance the coverage
4. Flexibility to choose the policy term with a limited premium payment term
5. Death benefits or maturity benefits can be availed in equal monthly instalments for five to ten years

Eligibility Criteria for Bajaj Allianz Save Assure Plan

Eligibility Criteria	Minimum	Maximum
Entry age	1 year	60 years
Maturity age	18 years	75 years
Policy term	15, 17 years
Sum assured	INR 1,00,000	No limit
Premium payment term	(policy term – 5 years)
Premium payment frequency	Yearly/half-yearly/quarterly/monthly

c) Bajaj Allianz Guarantee Assure Plan

This plan is a non-participating, non-linked limited premium endowment plan that helps in securing future goals with guaranteed benefits

Features of Bajaj Allianz Guarantee Assure Plan

1. Guaranteed additions on maturity which can go up to 63% of sum assured depending on the chosen policy term
2. Flexibility to choose the policy term based on time horizon left for achieving goals
3. Fixed premium payment term of five years
4. High sum assured rebate for sum assured of more than INR 1 lakh
5. Death benefits or maturity benefits can be availed in equal monthly instalments for five to ten years

Eligibility Criteria for Bajaj Allianz Guarantee Assure Plan

Eligibility Criteria	Minimum	Maximum
Entry age	9 years	60 years
Maturity age	18 years	69 years
Policy term	7,8 and 9 years
Sum assured	INR 1,00,000	No limit
Premium payment term	5 years
Premium payment frequency	Yearly/half-yearly/quarterly/monthly

d) Bajaj Allianz Cash Assure Plan

Bajaj Allianz Cash Assure Plan is a traditional money back policy that offers corpus at regular intervals which will help in meeting life stage requirements.

Features of Bajaj Allianz Cash Assure Plan:

1. The policy offers a money-back at predetermined intervals depending on the tenure chosen
2. Survival and maturity benefit is guaranteed up to 150% of the sum assured
3. In addition to the sum assured, vested bonuses + terminal bonuses, if any will be paid on maturity.
4. High sum assured rebate of INR 4.5 for every INR 1,000 sum assured for availing cover more than INR 1 lakh
5. Premium payment term is five years less than the chosen policy term
6. Five additional optional riders to enhance the cover</liEligibility Criteria for Bajaj Allianz Cash Assure Plan
   

   Eligibility Criteria	Minimum	Maximum
   Entry age	0 years	54 years
   Maturity age	18 years	70 years
   Policy term	16,20,24 and 28 years
   Sum assured	INR 1,00,000	No limit
   Premium payment term	(Policy term – 5 years)
   Premium payment frequency	Yearly/half-yearly/quarterly/monthly

e) Bajaj Allianz Super Life Assure Plan

Bajaj Allianz Super Life Assure Plan is a non-linked, participating endowment plan that brings a combination of life protection and disciplined savings for future goals.

Features of Super Life Assure Plan

1. Flexibility to choose between two variants – life and Super. Life variant pays the death benefit in a lump sum. Super variant pays double benefits – 100% of sum assured on death in lump sum + additional 100% of sum assured as income benefit paid monthly over 10 years
2. Maturity benefit includes the sum assured + vested bonuses + terminal bonuses if any
3. High sum assured rebate of INR 25 per INR 10,000 sum assured for availing cover of more than INR 2 lakhs
4. Option to avail waiver of premium rider which waives of the further premiums in case of critical illness/accidental permanent total disability/ death (if the life assured is minor)

Eligibility Criteria for Bajaj Allianz Super Life Assure Plan

Eligibility Criteria	Minimum	Maximum
Entry age
Life	0 years	55 years
Super	18 years	50 years
Maturity age
Life	18 years	70 years
Super	30 years	70 years
Policy term	12 years	20 years
Sum Assured
Life	INR 50,000	No Limit
Super	INR 1,00,000
Premium payment term	Same as policy term
Premium payment frequency	Yearly/half-yearly/quarterly/monthly

f) Bajaj Allianz Income Assure Plan

Bajaj Allianz Income Assure Plan is a non-linked, participating monthly income endowment plan that offers guaranteed monthly income to the family of insured to help them have financial stability during difficult days.

Features of Bajaj Allianz Income Assure Plan

1. The plan comes in two variants to choose the death benefits – lump sum payout or monthly income payout
2. Guaranteed tax-free monthly income for over a period of 12 years which will start once the premium paying term is over
3. Multiple optional riders to enhance the cover
4. High sum assured rebate on premium
5. The death benefit or maturity benefit will include guaranteed amount + vested bonuses + terminal bonuses if any

Eligibility Criteria for Bajaj Allianz Income Assure Plan

Eligibility Criteria	Minimum	Maximum
Entry age	0 years	50 years
Maturity age	18 years	74 years
Policy term	17,19,22 and 24 years
Sum assured	144 X guaranteed monthly income	No limit
Premium payment term	5,7,10 and 12 years
Premium payment frequency	Yearly /monthly

g) Bajaj Allianz POS Goal Suraksha Plan

Bajaj Allianz POS Goal Suraksha Plan is a non-linked, non-participating endowment plan that offers guaranteed maturity benefits to secure future goals.

Features of Bajaj Allianz POS Goal Suraksha Plan

1. Offers guaranteed benefits and additions on maturity
2. Premium payment term is limited
3. Facility to avail loan against the policy

Eligibility Criteria for Bajaj Allianz POS Goal Suraksha Plan

Eligibility Criteria	Minimum	Maximum
Entry age	18 years	55 years
Maturity age	28 years	65 years
Sum assured	INR 30,000	INR 10,00,000
Premium payment frequency	Yearly /half-yearly/quarterly/monthly

Policy term	Premium payment term
10 years	7 years
15 years	5,7 and 10 years

3. Bajaj Allianz Investment Plans

Bajaj Allianz Life Insurance Company offers various investment plans that mainly focus on wealth creation for major milestones of life such a children education, dream holiday or for wedding etc along with providing life protection.

List of Bajaj Allianz Investment Plans

Bajaj Allianz Capital Assure Goal

Bajaj Allianz Capital Assure Goal is specially designed to provide the policyholder with a better future by offering better returns. The plan comes with a lot of attractive features and offers life cover apart from good income and this makes it worth buying.

Key features of Bajaj Allianz Capital Assure Goal : 

1. The combo option promises to offer a death benefit in case of death of the insured during the term of the policy
2. The plan guarantees the capital investment made at maturity.
3.  The ULIP feature opens room for better returns
4. Flexibility to choose premium payment terms.

Bajaj Allianz Capital Goal Suraksha

Bajaj Allianz Capital Goal Suraksha is a non-linked, non-participating endowment plan that offers guaranteed returns at maturity apart from providing protection.

Key features of Bajaj Allianz Capital Goal Suraksha: 

1. The plan offers the advantage of guaranteed returns at maturity.
2. The plans offer guaranteed additions at maturity.
3. Flexibility with the premium payment modes.
4. Loan against the policy feature is also available

a) Bajaj Allianz My Wealth Goal Plan

It is a combination product that offers insurance and investment under one umbrella in order to provide the benefit of both income generation and wealth creation.

Features of Bajaj Allianz My Wealth Goal Plan

1. Combination of two policies – Future wealth gain (ULIP) and lifelong assure (traditional plan)
2. Lifelong cover with potential to maximise the returns with market investment
3. Multiple investment fund options to choose

Eligibility Criteria for Bajaj Allianz My Wealth Goal Plan

Eligibility Criteria	Minimum	Maximum
Entry age	10 years	55 years
Maturity age	–	100 years
Policy term	(100- entry age) years
Premium payment term Future wealth gain Lifelong assure	5,7,10 and 15 years 10,15 and 20 years
Premium payment frequency	Yearly/half-yearly/quarterly/monthly

b) Bajaj Allianz Invest Assure Plan

It is a non-linked, participating limited premium endowment plan that offers financial security to insured’s family even when he/she is not around.

Features of Bajaj Allianz Invest Assure Plan

1. Two variants to choose the life cover – silver and gold
2. Maturity benefit includes vested bonuses + terminal bonuses if any along with the sum assured
3. The benefit of high sum assured rebate on premium and limited premium payment term
4. Additional rider benefits to enhance the coverage

Eligibility Criteria for Bajaj Allianz Invest Assure Plan

Eligibility Criteria	Minimum	Maximum
Entry age Silver Gold	0 year 18 years	50 years 50 years
Maturity age Silver gold	18 years	70 years 65 years
Policy term Silver Gold	17 years 15 years	40 years 40 years
Sum assured	INR 1,00,000	No limit
Premium payment term	Depends on variant and policy term chosen
Premium payment frequency	Yearly /half-yearly/quarterly/monthly

c) Bajaj Allianz Elite Assure Plan

Bajaj Allianz Elite Assure Plan is a non-linked endowment plan that provides an attractive return on investment along with life cover which helps to attain future financial goals

Features of Bajaj Allianz Elite Assure Plan

1. The policy offers life cover along with guaranteed maturity benefits, loyalty additions and bonuses
2. Guaranteed loyalty additions can go up to 315% of the guaranteed maturity benefits
3. Flexibility to choose the policy term and premium payment term
4. Multiple optional riders to enhance the coverage
5. High sum assured rebate on premium

Eligibility Criteria for Bajaj Allianz Elite Assure Plan

Eligibility Criteria	Minimum	Maximum
Entry age	0 years	55 years
Maturity age	18 years	70 years
Policy term	15,20,25 and 30 years
Sum assured	10 times of annualised premium
Guaranteed maturity benefit	INR 5,00,000	No limit
Premium payment term	7,10 and equal to the policy term
Premium payment frequency	Yearly/half-yearly/quarterly/monthly

4. Bajaj Allianz Unit Linked Investment Plans (ULIPs)

Bajaj Allianz Life Insurance Company offers various ULIPs to provide an ideal solution for investment and insurance needs of a diverse range of investors. ULIPs offer the best of both the world by providing life protection along with maximising the returns by investing in the capital market.

List of Bajaj Allianz Unit Linked Investment Plans (ULIPs)

Bajaj Allianz Smart Wealth Goal

Bajaj Allianz Life Goal Assure

Bajaj Allianz Smart Wealth Goal

Bajaj Allianz Smart Wealth Goal is a Unit Linked Insurance Plan that has been designed in a way to provide better returns so that the policyholder faces no hindrance while achieving his life goals. The plan offers three variants and features like return of mortality charge, return of allocation charges and fund booster that help in faster wealth creation and ultimately makes the plan stand for its value. 

Key features of Bajaj Allianz Smart Wealth Goal Plan:

1. The plan has a provision of returning the life cover charges at the end of policy term.
2. The plan offers periodical money backs that include partial withdrawal, return of premium allocation charges, etc
3. There are five investment strategies which the policyholder can choose according to his risk appetite.
4. The policyholder can opt for a suitable fund option from the eight ULIP fund options according to his requirements.
5. The plan comes with a provision wherein the assured can increase the premium payment term after the completion of the fifth policy year.

Bajaj Allianz Life Goal Assure

Bajaj Allianz Life Goal Assure is an individual life, non-participating unit-linked endowment plan that offers eight fund options and four investment strategies to choose from as per the needs and risk appetite. The plan comes with attractive features like fund boosters, return of life cover charges, etc that assure maximized returns upon the investments made.

Key Features of Bajaj Allianz Life Goal Assure:

1. Fund boosters are available for addition after the policy has completed its 10 years.
2. A wide range of fund options to choose from 
3. Flexibility to alter the premium payment term after the completion of 5 years of the policy.
4. Return enhancer feature is available
5. Provision to return the life cover charges at maturity.

a) Bajaj Allianz Goal Assure Plan

Bajaj Allianz Goal Assure Plan offers smart investment choices along with providing life cover in order to achieve medium and long-term goals of investors.

Features of Bajaj Allianz Goal Assure Plan

1. The plan offers four portfolio strategies with eight fund investment fund options to choose from depending on need, investing style and risk profile
2. The facility of fund booster if the policy term is more than 10 years which will enhance investment return
3. Loyalty additions from 6th year onwards
4. Flexibility to change the sum assured as per life situation
5. Option to take maturity benefit in instalments
6. Return of mortality charges on maturity

Eligibility Criteria for Bajaj Allianz Goal Assure Plan

Eligibility Criteria	Minimum	Maximum
Entry age	0 years	60 years
Maturity age	–	75 years
Sum assured Less than 45 years of age   More than or equal to 45 years of age	Higher of 10 times annualised premium or 0.5 X policy term X annualised premium Higher of 10 times annualised premium or 0.25 X policy term X annualised premium
Premium payment frequency	Yearly/half-yearly/quarterly/monthly

Policy term	Premium payment term
5 years	5 years
10 years	5,7 or 10 years
15 years	10 or 15 years
20 years	15 or 20 years

b) Bajaj Allianz Future Gain Plan

Bajaj Allianz Future Gain ULIP plan offered by Bajaj Allianz Life Insurance Company offers various flexible features and benefits to enhance return and help to achieve financial goals in future.

Features of Bajaj Allianz Future Gain Plan

1. The plan offers two investment strategies with seven investment fund option to choose from based on the need
2. The facility of partial withdrawal and switches
3. Optional riders to enhance the coverage
4. Option to avail maturity benefits in instalments

Eligibility Criteria for Bajaj Allianz Future Gain Plan

Eligibility Criteria	Minimum	Maximum
Entry age	1 year	60 years
Maturity age	18 years	70 years
Policy term	10 to 30 years
Sum assured	Based on age at entry and policy term
Premium payment term	5 to 30 years
Premium payment frequency	Yearly/half-yearly/quarterly/monthly

c) Bajaj Allianz Fortune Gain Plan

It is a single premium ULIP plan that offers a higher return by investing in market-linked funds along with various flexible features to achieve long-term goals.

Features of Bajaj Allianz Fortune Gain Plan

1. Seven investment fund options to choose based on financial goals and risk profile
2. 3% of the premium as loyalty additions for policy term 10 years and above and for sum assured of more than INR 1 lakh
3. The policy offers systematic switching option which is beneficial for volatile market scenarios
4. Maturity benefit can be availed in instalments

Eligibility Criteria for Bajaj Allianz Fortune Gain Plan

Eligibility Criteria	Minimum	Maximum
Entry age	1 year	63 years
Maturity age	18 years	70 years
Policy term	7 to 30 years
Sum assured	Based on age at entry and policy term
Premium payment term	Single premium

d) Bajaj Allianz Principal Gain Plan

This ULIP plan comes with capital protection benefit that offers security in spite of market performance. It is a combination of life coverage and disciplined savings.

Features of Bajaj Allianz Principal Gain Plan

1. Capital protection facility with 101% of total premium is payable as minimum maturity benefit
2. Flexibility to invest in a balanced equity fund and bond fund calls for potentially high returns to achieve future goals
3. Guaranteed loyalty additions on maturity to enhance returns
4. Option to receive maturity benefits in instalments

Eligibility Criteria for Bajaj Allianz Principal Gain Plan

Eligibility Criteria	Minimum	Maximum
Entry age	7 years	60 years
Maturity age	18 years	70 years
Policy term	7 to 15 years
Sum assured	10 times of annual premium
Premium payment term	5 to 15 years
Premium payment frequency	Yearly/ monthly

e) Bajaj Allianz Future Wealth Gain Plan

It is a non-participating, unit-linked endowment plan that offers the benefit of life protection and wealth creation for fulfilling life dreams.

Features of Bajaj Allianz Future Wealth Gain Plan

1. The facility of fund booster on maturity to enhance the overall investment
2. Loyalty additions from 10th policy year onwards
3. Two variants – wealth plus and death benefit
4. Two portfolio strategies with eight different fund options to choose

Eligibility Criteria for Bajaj Allianz Future Wealth Gain Plan

Eligibility Criteria	Minimum	Maximum
Entry age	0 years	60 years
Maturity age	18 years	75 years
Policy term	10 to 25 years
Sum assured	Based on age at entry and policy term
Premium payment term	5 to 15 years
Premium payment frequency	Yearly/half-yearly/quarterly/monthly

f) Bajaj Allianz Goal-Based Saving Plan

It is a new age ULIP that offers protection and capital appreciation by investing in various market-linked funds. The plan helps to achieve future life goals with the potential for high returns.

Features of Bajaj Allianz Goal-Based Savings Plan

1. Option to choose from eight investment funds
2. Flexibility to change the premium payment term, make partial withdrawals and switches
3. Top-up facility to enhance the investment
4. Settlement option with return enhancer
5. Return of mortality charges on maturity for regular and limited premium plans

Eligibility Criteria for Bajaj Allianz Goal-Based Savings Plan

Eligibility Criteria	Minimum	Maximum
Entry age	0 years	60 years
Maturity age	18 years	75 years
Sum assured Less than 45 years of age   More than or equal to 45 years of age	Higher of 10 times annualised premium or 0.5 X policy term X annualised premium Higher of 10 times annualised premium or 0.25 X policy term X annualised premium
Premium payment frequency	Single/Yearly/half-yearly/quarterly/monthly

Policy term	Premium payment term
5 years	5 years
10 years	5 and 10 years
15 years	5,7 and 10 years
20 years	15 years

5. Bajaj Allianz Health Care Plan

a) Bajaj Allianz Healthcare Goal

Bajaj Allianz Healthcare Goal is an individual, non-participating, healthcare plan that offers coverage for 36 critical illnesses including cancer and heart diseases. The plan offers 4 variants of the policy so that the policyholder can select one according to his needs. Family cover option, Return of Premium and waiver of premium are some additional features making the plan for everyone.

Key features of Bajaj Allianz Healthcare Goal plan: 

1. The plan comes with an option to cover self, spouse and/or dependent children.
2. Offers four variants to choose from according to the needs
3. premium shall be returned at the time of maturity. 
4. Waiver of premium feature comes along with the plan.

6. Bajaj Allianz Retirement Plans

Bajaj Allianz Life Insurance Company offers a variety of retirement plans to financially secure the golden years.

List of Bajaj Allianz Retirement Plans

List of Bajaj Allianz Retirement Plans

Bajaj Allianz Saral Pension Plan

Bajaj Allianz Life Saral Pension Plan is a single premium, non-linked, individual immediate annuity plan which stands fit to fulfil all your retirement goals. The plan provides a regular income and returns back the purchase price on the policyholder’s death, all this makes Bajaj Allianz Saral Pension effective in every way.

Key Features of Bajaj Allianz Saral pension Plan:

1. Guaranteed regular income for whole life
2. Return of Purchase price feature is available and is paid upon the death of the policyholder.
3. Flexibility to decide the mode of annuity payouts.
4. Loan against the policy features is also available
5. The policyholder also has an option to opt for a joint life cover and earn regular

incomes for both lives.

Bajaj Allianz Guaranteed Pension Goal

Bajaj Allianz Guaranteed Pension Goal is a non-linked, non-participating, immediate, and deferred annuity plan which has been designed to provide guaranteed returns for life to keep up with the lifestyle goals of the policyholder. 

Key features of Bajaj Allianz Guaranteed Pension Goal

1. Offers guaranteed income regularly till lifetime.
2. You have the option to opt for an immediate or deferred annuity
3. Even if something happens to you can ensure the financial well-being of your loved ones
4. Option to include your spouse in the plan by opting for the joint-life annuity.
5. A broad range of annuity options to choose from.
6. Return of Purchase price option on death is available along with survival benefits. 

a) Bajaj Allianz Long-life Goal Plan

This plan is an ideal solution for worry-free and comfortable retirement life that invests money in investment portfolio chosen to provide market-linked returns and build a good retirement corpus.

Features of Bajaj Allianz Long-life Goal Plan

1. Choice of two plan variants – with a waiver of premium and without waiver of premium
2. Option to choose from four investment portfolio strategies and eight categories of funds
3. Loyalty additions from 5th policy year onwards
4. Periodical return of life cover charges with whole life insurance cover
5. Retired life-income till the age of 99 years with return enhancer

Eligibility Criteria for Bajaj Allianz Long-life Goal Plan

Eligibility Criteria	Minimum	Maximum
Entry age With a waiver of premium Without waiver of premium	0 years 18 years	65 years No limit
Maturity age	–	99 years
Policy term	(99 – the age at entry of the life assured)
Sum assured Less than 45 years of age   More than or equal to 45 years of age	Higher of 10 times annualised premium or 0.5 X (70 – the age at entry) X annualised premium Higher of 10 times annualised premium or 0.25 X (70 –the age at entry) X annualised premium
Premium payment term	10 to 25 years
Premium payment frequency	Yearly/half-yearly/quarterly/monthly

b) Bajaj Allianz Pension Guarantee Plan

It is an immediate annuity plan that ensures regular income is guaranteed to provide financial stability in the retirement age.

Features of Bajaj Allianz Pension Guarantee Plan

1. Six different annuity option to choose from
2. Option to cover a spouse
3. Choose from multiple annuity frequency
4. The option of return of purchase price

Eligibility Criteria for Bajaj Allianz Pension Guarantee Plan

Eligibility Criteria	Minimum	Maximum
Entry age	37 years	80 years
Purchase price	INR 25,000	No limit

c) Bajaj Allianz Retire Rich Plan

Bajaj Allianz Retire Rich Plan is a unit-linked pension plan that secures post-retirement life with corpus building through market investments.

Features of Bajaj Allianz Retire Rich Plan

1. Guaranteed vesting benefit of 101% of total premium paid. The entire benefit can be used for annuity purchase or 1/3rd of the vesting benefit can be taken as a lump sum and the remaining can be used to purchase an immediate annuity plan
2. Multiple premium paying terms – limited/single/regular
3. Option to change the premium payment term
4. Top-up facility to enhance the investment
5. Pension builder fund for capital appreciation

Eligibility Criteria for Bajaj Allianz Retire Rich Plan

Eligibility Criteria	Minimum	Maximum
Bajaj Allianz Entry age	30 years	73 years
Vesting age	37 years	80 years
Policy term	7 to 30 years
Premium payment term	5 to 30 years

7. Bajaj Allianz Child Insurance Plans

Bajaj Allianz Life Insurance Company offers a variety of child insurance plans to fulfil children’s life goals. The plan provides adequate financial security to fulfil dreams and help achieve children’s important milestones in life.

List of Bajaj Allianz Child Insurance Plans

a) Bajaj Allianz Young Assure Plan

Bajaj Allianz Young Assure Plan is a participating, traditional endowment plan which provides financial security to achieve long-term goals, specifically for children’s higher education.

Features of Bajaj Allianz Young Assure Plan

1. The policy provides comprehensive coverage that includes a death benefit and maturity benefit. After the death benefit is paid out during the term, the policy will be converted to fully paid-up policy and continue to accrue bonuses, guaranteed additions till maturity
2. Guaranteed maturity benefits and guaranteed additions up to 90% of the guaranteed maturity benefits
3. Maturity benefit will also include vested bonus + terminal bonus if any
4. Maturity benefit can be availed in instalments over three or five or seven years depending on the requirement
5. Flexibility to choose the premium payment and policy terms
6. Multiple rider options to enhance the cover

Eligibility Criteria for Bajaj Allianz Young Assure Plan

Eligibility Criteria	Minimum	Maximum
Entry age	18 years	50 years
Maturity age	28 years	60 years
Sum assured	10 times the annualised premium
Premium payment frequency	Yearly/half-yearly/quarterly/monthly

Policy term	Premium payment term
10 years	5,7 years
15 years	12,15 years
20 years	12,15 and 20 years

b) Bajaj Allianz Lifelong Assure Plan

This is a non-linked, whole life savings plan that comes with guaranteed cashback which will financially support to achieve children’s life goals

Features of Bajaj Allianz Lifelong Assure Plan

1. The guaranteed death benefit of up to 300% of sum assured for lifelong
2. High sum assured rebate on premium
3. Multiple rider options
4. Cash bonus starting from the end of 6th policy year till 99 years of age
5. Policy benefits can be availed in monthly instalments

Eligibility Criteria for Bajaj Allianz Lifelong Assure Plan

Eligibility Criteria	Minimum	Maximum
Entry age	10 years	55 years
Policy term	100 – the age at entry
Sum assured	INR 1,00,000 to INR no limit
Premium payment term	10,15 and 20 years
Premium payment frequency	Yearly/half-yearly/quarterly/monthly

c) Bajaj Allianz Young Assure Plus Plan

This is a traditional endowment plan that is specifically designed to provide financial support to children’s higher education.

Features of Bajaj Allianz Young Assure Plus Plan

1. Multiple cash instalments to meet child’s life goals
2. Comprehensive coverage that provides both death benefits and guaranteed maturity benefit
3. Multiple riders

8. Bajaj Allianz Group Insurance Plan

a) Bajaj Allianz Jan Suraksha Yojna

This a non-linked, non-participating, single and regular premium group micro term insurance plan that aims to provide insurance cover at an affordable cost.

b) Bajaj Allianz Pradhan Mantri Jeevan Jyoti Bima Yojana

PMJJBY is a group term insurance scheme offered by the Government of India which is renewable yearly.

c) Bajaj Allianz Group Term Life Plan

This plan assures to provide complete reassurance to family members by providing adequate coverage.

d) Bajaj Allianz Group Employee Care Plan

This traditional variable group insurance plan is specifically designed for an employer to manage employee benefits such as gratuity, leave encashment and medical benefits.

e) Bajaj Allianz Group Employee Benefit Plan

It is a multi-featured plan that takes care of employee welfare requirements.

f) Bajaj Allianz Group Term Care Plan

This is a non-linked, non-participating single premium group term insurance plan offers a return of premium on maturity proportionately.

g) Bajaj Allianz Group Superannuation Secure Plan

This group plan offered by Bajaj Allianz Life insurance Company is a non-linked, non-participating, variable fund-based group superannuation scheme which can be taken by employers to build a substantial retirement fund for employees.

h) Bajaj Allianz Group Annuity Plan

Bajaj Allianz Group Annuity Plan is an immediate annuity plan that offers regular income to the members of the group.

i) Bajaj Allianz Group Credit Protection Plus Plan

This is a non-participating group insurance plan that aims to cover various types of loans given by employers and borrowers of financial institutions and co-operatives. The plan intends to ease out the financial burden to member’s family in the event of death, permanent disability caused by an accident and critical illness.

j) Bajaj Allianz Super Gain Group Superannuation Scheme

It is a unit-linked group insurance policy that can be purchased by employers for helping employees in their retirement planning.

k) Bajaj Allianz Group Sampoorna Suraksha Kavach Plan

This group insurance plan offered by Bajaj Allianz Life Insurance Company intends to cover various types of microloans given by financial institutions, microfinance, and small finance banks and institutions etc. to their customers.

l) Bajaj Allianz Group Income Protection Plan

Group income protection plan offered by Bajaj Allianz Life Insurance Company is designed to provide regular income in the form of annuity and death benefits to the family of members.

9. Bajaj Allianz Microinsurance Plan

Microinsurance plans offered by Bajaj Allianz Life Insurance Company are the plans that provide life cover to low-income group people against the uncertainties of life.

a) Bajaj Allianz Bima Dhan Suraksha Yojana

This is a non-linked, non-participating micro term insurance plan that comes with the return of premium facility on maturity.

b) Bajaj Allianz Bima Sanchay Yojana

This is a micro variable insurance plan that provides financial protection to families during uncertainties at an affordable rate

Documents Required to Buy Bajaj Allianz Life Insurance Policy

Following are the documents required for buying Bajaj Allianz Life Insurance plans:

• Identity proof – PAN Card /Voter’s ID card/ Passport/ Driving license/Aadhaar card
• Address proof – Bank statement/Driving license/ Passport/Aadhaar card/Voter’s ID/Ration card/electricity or telephone bill
• Age proof – Birth certificate/Passport/SSLC marks sheet
• Passport size photographs
• Medical check-up reports, if necessary

Claims Process for Bajaj Allianz Life Insurance Plans

The claim process for Bajaj Allianz Life Insurance plans are quite simple, time saving and hassle-free. Claims can be registered online as well as offline. Following is the simple claim process to follow:

• Report the claim immediately to Bajaj Allianz Life Insurance Company by calling up customer care/ online reporting or by visiting the nearest branch office
• The customer service officer will provide details on the list of documents to be submitted
• Obtain claim settlement form online/from the branch office.
• Submit duly filled and signed claim request form along with necessary documents such as death certificate, original policy document, medical report etc (as required for the specific claim case) to the insurance company
• The company will assess the documents submitted and update the progress via SMS
• Any requirement of additional documents will be intimated via call. The claimant can enquire over the helpline number
• A claim can be tracked online too!
• Once approved, the claim will be settled within 15 to 30 days.

Riders Offered by Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance Company offers various additional optional riders which can be purchased at an additional cost of the premium. Following are the riders offered by the company:

1. For Individual Plans:
   1. Bajaj Allianz Waiver of Premium Benefit Rider
      Under this rider, in case of an unfortunate event like critical illness, accidental disability or death (if the life assured is different from policyholder) during the policy term, all future premiums will be waived off keeping the policy in force.
   2. Bajaj Allianz Family Income Benefit Rider
      Under this rider, in case of an unfortunate event like critical illness, accidental disability or death (if the life assured is different from policyholder) during the policy term, 1% of the rider sum assured is payable monthly for remaining rider term or 10 years whichever is higher.
   3. Bajaj Allianz Accidental Death Benefit Rider
      This rider pays out the additional sum assured in case of accidental death.
   4. Bajaj Allianz Critical Illness Benefit Rider
      Under this rider, on the diagnosis of any of the specified 11 critical illnesses, rider sum assured is paid.
   5. Bajaj Allianz Accidental Permanent Total/ Partial Disability Benefit Rider
      In case the life assured suffers accidental permanent total/partial disability due to an accident during the term, lump sum amount is paid
2. Group Plans:
   1. Bajaj Allianz Life Group Accidental Permanent Total/Partial Disability Benefit Rider
      50% of the rider sum assured is paid in case of accidental permanent partial disability and 100% in case of accidental permanent total disability.
   2. Bajaj Allianz Life Group Accidental Death Benefit Rider
      This rider pays out the additional sum assured in case of accidental death.
   3. Bajaj Allianz Life Group Accelerated Critical Illness Rider 
      In case the life assured suffers accidental permanent total/partial disability due to an accident during the term, lump sum amount is paid