Bajaj Allianz Life Assured Wealth Goal Platinum (116N188V05)
Features
- Security: Life Cover to protect family
- Guarantee: All benefits in the policy are guaranteed.
- Liquidity: Income begins as early as from start of the 1st policy year.
- Tax benefits: Avail tax benefits as per prevailing tax laws.
How this plan works
- Decide the premium amount and for how long you wish to pay.
- Decide your income start year (1 to 8th year depending on the policy term chosen).
- Choose how long you want to receive the income.
Eligibility Criteria
|
Plan Option |
Smart Income* |
Regular Income |
||||||||
|
Premium Payment Term (PPT) (in years) |
5/ 6 |
7 |
8 / 10 / 12 |
5 / 6 / 7 / 8 / 10 / 12 |
||||||
|
Deferment Period (in years) |
Not applicable |
PT minus PPT |
||||||||
|
Policy Term (PT) (in years) |
Regular Pay |
Equal to PPT |
5 to 17 |
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|
Limited Pay |
NA |
10 |
15 |
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|
Income Period (in years) |
15 / 20 / 25 / 30 |
5 / 7 / 10 / 12 / 15 |
20 / 25 / 30 |
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|
Enhanced ROP |
Yes |
No |
Yes |
|||||||
|
Minimum |
Maximum |
Minimum |
Maximum |
|||||||
|
Age at Entry (years) |
6 |
Regular Pay -60 Limited Pay -55 |
1 |
60 |
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|
Age at Maturity (years) |
18 |
72 |
18 |
77 |
||||||
|
Annualized Premium (Rs) |
Rs.30,000 |
No limit, subject to Board Approved Underwriting Policy |
Rs.30,000 |
No limit, subject to Board Approved Underwriting Policy |
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*Under Smart Income, Income Period 15 and Limited premium payment option is only available with EGP Start Year 1. For POS channel under all variants:
• For policy purchased through POS channel no medical underwriting is required
• Maximum Age at entry will be 55 years
• Maximum Maturity Age shall be 65 years
• Maximum Policy Term is 20 years
• Maximum Sum Assured on Death is Rs. 25 lacs
• Riders are not applicable for POS policies
• For policies sold through POS Channel, the minimum and maximum age at entry will be as per prevailing IRDAI POS Guidelines, as amended from time to time
All ages mentioned above are age as on last birthday. 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) or on maturity date.
The product is available for sale through online mode For female lives, the age set-back of 3 years will be applicable for calculation of SA Multiple and Maturity Benefit/ Income payout. Income Period will commence after the end of Deferment Period. The deferment period will be PT minus PPT (in years) Benefits will vary depending on the plan option chosen.
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Disclaimer
This sales literature gives the salient features of the plan only. The Policy document is the conclusive evident of contract and provides in details all the conditions & exclusions related to Bajaj Allianz Life Assured Wealth Goal Platinum.
“The Federal Bank Limited is a Corporate Agent having registration number - Regn. No. CA0227. The service provided by The Federal Bank Limited is purely an agency service and is carried out strictly on a non-risk participation basis. The Federal Bank Limited, as corporate agent, does not underwrite the risk or act as an insurer. Participation by the Federal Bank’s customers in the insurance product is purely on a voluntary basis and is not linked to the availment of any other facility from the Federal Bank Limited.”