Bajaj Allianz Life Smart Protect Goal

(A Non Linked, Non-Participating, Pure Life Term Insurance Plan)
 
OVERVIEW:
 
Life is full of uncertainties. One unfortunate incident can impact the financial stability of the entire family. Term insurance is a tool that provides a financial safety net in such situations. Term Insurance helps in ensuring that your life goals such as children's education and marriage, buying own house etc. are fulfilled even if something happens to you. This is why it is extremely important that you get enough life insurance coverage depending on your needs.
 
Bajaj Allianz Life Smart Protect Goal is a comprehensive term plan that helps you meet your life's aspirations and ensures your family does not have to compromise on anything.
 
KEY BENEFITS:
 
• Life Cover – For Self
• Option to choose Return of Premium (ROP 1) as maturity benefit
• Flexibility to opt for Single, Limited, or Regular Premium Payment Term
• Tax benefit *
 
 
To know the applicable commissions and charges, please contact your nearest IPPB Branch/Relationship Manager.
 
 

Bajaj Allianz Group Term Life

(A Traditional Group Insurance Plan)

 

Get immediate and Long-term financial assurance for your family to secure them from uncertain events.

 

Key Advantages:

  • Lump sum cover as financial aid in case of unforeseen death
  • In case of death, instalment options of 5 years, 7 years and 10 years
  • Lump sum and Instalment payouts are 100% Tax-Free*
  • No medicals required

    
*Conditions Apply – The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors. For more details please refer to scheme rule.

*Tax Benefits as per prevailing Income tax laws shall apply.  

 

Death Benefit
Members can choose from the below mentioned options to receive the death benefit. This option can be chosen by the members at inception or at any membership anniversary. In case no option is chosen, the default option will be Option 1.

 

On Death of the Member

 

Option 1: 100% of Sum Assured as lump sum paid to the nominee

 

Option 2: 20% of the Sum Assured as lump sum will be paid to the nominee

The balance amount, i.e., 80% of Sum Assured, will be paid in equal instalments in arrears, spread over the instalment period chosen by member, subject to maximum of 10 years.

 

Maturity Benefit

There is No Maturity Benefit in this Plan

 

Eligibility Criteria

 

Parameters

Details

Minimum Entry Age

18 years

Maximum Entry Age

50 years

Policy Term

One Year Renewable Group Term Assurance

Premium

As per chosen Sum Assured

Minimum Sum Assured

‘5 Lakhs

Maximum Sum Assured

’10 Lakhs

 

Above eligibility parameters are subject to change as per Board Approved Underwriting Policy.

 

Plan Benefits:

 

How Does GTL plan works

Option for choosing Sum Assured

Option to Claim Death Benefit

Plan Options

Option 1

Option 2

Option 1

Sum Assured (In Rs.)

5,00,000

10,00,000

Option 2

Lum Sum (In Rs.)

1,00,000

1,00,000

1,00,000

2,00,000

2,00,000

2,00,000

Monthly Income (In Rs.)

7,168

5,303

3,936

14,336

10,606

7,872

Income duration (In Rs.)

5

7

10

5

7

10

Total benefit to be received in case of option 2

Total benefits (In Rs.)

5,30,080

5,45,452

5,72,320

10,60,160

10,90,904

11,44,640

Premium details for GTL plan options

Option for choosing Sum Assured

Option 1

Option 2

Yearly Premium including GST (In Rs.)

2,584

5,168

 

Click here to download Sales Brochure 

 

Disclaimer - The participation by IPPB’s customer in insurance products is purely on a voluntary basis. There is no ’linkage’ either direct or indirect between the provision of banking services offered by the bank to its customers and use of the insurance products.