Bajaj Allianz Life Flexi Income Goal Plan
Bajaj Allianz Life Flexi Income Goal Plan has the option to provide a cash bonus from the first month itself. Provide more benefits like Joint Life Cover along with the waiver of premium option to provide a lump sum or guaranteed regular income for spouse in case of Life Assured’s death.
Main Highlights:
• 100% of Sum Assured is paid as Guaranteed Monthly Income (GMI) from the end of PPT till Maturity. Option to receive it annually or accumulate it.
• 50% of Sum Assured is paid as Guaranteed Maturity Booster.
• Cash Bonus, if any (CB) from 1st month onwards & Maturity Bonus ( if any ) at the time of maturity.
• Option to accumulate the Survival Benefits and earn investment return.
• Option to choose Joint Life Cover.
Death Benefit under Bajaj Allianz Life Flexi Income Goal Plan:
In case of unfortunate death of the life assured during the policy term,
i) 105% of Cash Value (if not fully withdrawn) plus Terminal Bonus (if any) will be paid immediately as lump-sum
and ii) Sum Assured on Death will be paid as monthly income, over a period equal to the outstanding Policy Term or 12 years, whichever is lower, and the 1st installment will start from the date of death. However, the nominee can opt to take the death benefit in a lump sum, at the time of intimation of death.
The death benefit in case of Joint Life Cover will be payable as below:
Death of Primary Life Assured –
(I) 105% of Cash Value (if not fully withdrawn) plus Terminal Bonus (if any) will be paid immediately as a lump sum and
(ii) Sum Assured on Death will be paid as monthly income, over a period equal to the outstanding Policy Term or 12
years, whichever is lower, and the 1st installment will be due from the date of death.
Death of spouse
If all due premiums are paid, then in case of unfortunate death during the policy term, the Sum Assured will be paid as monthly income, over a period equal to the outstanding Policy Term or 12 years, whichever is lower, and the 1st installment will start from the date of death.
Conditions & Eligibility:
• Minimum and maximum age:
o Age at entry-level ranges from 18 years to 55 years.
o Age at maturity level ranges from 18 years to 80 years.
• Policy term: Premium Payment Term plus 12 years (Max 50 years)
• PPT: 5 to 20 years
For more info visit: Bajaj Allianz Flexi Income Goal