Bajaj Allianz Life Guaranteed Wealth Goal

Variant 1 – Wealth Creation

Wealth Creation Variant will help you in meeting your life goals such as wealth creation, funds for child’s education, financial legacy for the family etc.

• Pay your premiums for the chosen period and get a guaranteed1 lumpsum benefit at the end of the Policy Term.
• Customize your policy from following options –

Maturity Benefit: Guaranteed¹Maturity Benefit (GMB) Plus Accrued Guaranteed¹ Additions.

Guaranteed¹ Maturity Benefit (GMB) is equal to the GMB factor multiplied by the Total Premiums³ Paid till the end of Policy Term. The GMB factor varies basis age of the Life Assured, Premium Payment Term, Policy Term and Sum Assured Multiple chosen by the Policyholder at inception of the Policy. 

Guaranteed¹ Additions (GA) will be added to the Policy at the end of each policy year, starting from the end of second policy year throughout the Policy Term, provided the Policy is in-force and all premiums have been paid. These Guaranteed¹ Additions will be calculated as a percentage of Total Premiums³ Paid till the date of addition and will vary basis the Policy Term. The GA is available in the policy provided at least two full policy years’ premiums are paid.

Death Benefit: In case of your unfortunate demise during the Policy Term, the nominee(s) shall receive Sum Assured on Death⁴ as a lumpsum benefit.

Sum Assured on Death⁴ is equal to Sum Assured (i.e. Annualized Premium² X Sum Assured Multiple).

At no time the total Death Benefit will be less than Guaranteed1 Death Benefit of 105% of the Total Premiums3 Paid, up to the date of death or the Surrender Value available then, whichever is higher. The policy will terminate on payment of Death Benefit.

Variant 3 – Second Income

Second Income Variant will help you generate a second source of guaranteed income along with a lumpsum benefit equal to total premiums³ paid to meet your life goals like child’s education / marriage, retirement. The variant also offers life cover throughout the tenure of the policy (including income period) to safeguard your family’s financial future.

• Pay your premiums for the chosen period i.e. PPT
• Choose your Deferment Period to decide when your income commences
• Receive Guaranteed¹ Income as a percentage of Annualized Premium² during the Income Period (i.e. post completion of PPT Plus DP)
• You have an option to choose ROP (Return of Premium) benefit i.e. receive all premiums paid at the end of the Income Period
• Choose from multiple options-

Note: Deferment period is the number of years after the end of PPT and before the start of Income period

Survival Benefit: Income Instalments are paid during the chosen income period (post the end of deferment period), as per chosen Income Instalment frequency. Each Income Instalment is equal to the Base Income Plus Accrued Income Boosters.

Base Income is equal to the Base Income% multiplied by the Total Premiums³ Paid.

Income Booster (IB) will accrue at the end of each policy year starting from the end of 2nd policy year till the end of the Deferment Period, provided the Policy is in-force and all premiums have been paid. The IB is available in the policy provided at least two full policy years’ premiums are paid. The Income Booster(s) accrued till the end of the Deferment Period are paid to the Policyholder as a part of every Income Instalment.

The Income Booster applicable at the end of each policy year is calculated as a percentage of Total Premiums³ Paid till date.

The Base Income and Income Booster factor varies basis age band, Premium Payment Term, Deferment Period, Income Period and Sum Assured Multiple chosen by the Policyholder at inception of the Policy.

Maturity Benefit: The maturity benefit (if selected with ROP option) is payable at the end of the Policy term along with the last Income Instalment and is equal to the Return of Premium (ROP i.e. Total Premiums³ Paid).

If ROP has not been chosen, no Maturity Benefit shall be payable.

Death Benefit: In case of Your unfortunate demise during the Policy Term, nominee(s) shall receive the Sum Assured on Death⁴ I.e. Annualized Premium² X Sum Assured Multiple (chosen by the Life Assured at inception of the Policy), as a lumpsum benefit.

At no time the total Death Benefit will be less than Guaranteed¹ Death Benefit of 105% of the Total Premiums³ Paid up to the date of death or the Surrender Value available then, whichever is higher.