Bajaj Allianz Life Assured Wealth Goal

What Is Assured Wealth Goal?

Assured Wealth Goal is a nonlinked, unitlinked insurance plan from Bajaj Allianz Life that combines protection with wealth creation. It is specifically designed for individuals who want a disciplined savings regimen, tax benefits, and a life cover that can be customized as the need evolves.

Key Features

• Dual Benefit Structure: A life cover component and a marketlinked investment component work together.
• Flexible Premiums: Pay premiums annually, semiannually, quarterly or monthly, with the freedom to increase the sum assured later.
• Guaranteed Minimum Death Benefit: Your nominees receive at least the sum assured plus any accrued bonuses, irrespective of market performance.
• Partial Withdrawal: After the policy has completed 5 years, you may withdraw up to 25% of the fund value, subject to a lockin period.
• Topup Option: From the 3rd policy year, you can make additional contributions to boost the fund value.
• Tax Advantages: Premiums qualify for deduction under Section80C and the death benefit is taxfree under Section10(10D) of the Income Tax Act.
• Riders Available: Options like Accidental Death Benefit Rider (ADB) and Critical Illness Rider (CIR) can be added for enhanced protection.
• Online Management: Policy statements, premium payments, and fund performance can be viewed through the Bajaj Allianz Life portal or mobile app.

Who Should Consider This Plan?

The product is suitable for:

• Young professionals who wish to build a financial cushion while securing their families.
• Parents looking for a mediumterm savings vehicle for their childrens education or marriage.
• Individuals approaching retirement and seeking a disciplined way to accumulate a corpus.
• Anyone who wants the flexibility to increase coverage without buying a new policy.

How the Plan Works

When you purchase Assured Wealth Goal, your premium is split into two parts:

1. Protection Portion: This funds the life cover. In the event of the policyholders death, the nominee receives the guaranteed sum assured plus any loyalty additions.
2. Investment Portion: This is allocated to a choice of fund options (Equity, Hybrid, or Debt). The funds performance determines the amount of wealth you accumulate over the policy term.

At the end of the policy term (5 to 20 years, depending on the option you choose), the maturity benefit is the higher of:

• The guaranteed sum assured plus accrued bonuses, or
• The market value of the investment portion.

This bestofboth approach ensures you never receive less than the guaranteed amount, while still having the upside potential of market growth.

Benefits at a Glance

• Life cover for financial security.
• Potential for higher returns through marketlinked funds.
• Taxsaving under Section80C.
• Flexibility to make topups and increase the sum assured.
• Partial withdrawals after 5 years for liquidity.
• Optional riders for additional protection.

Common Questions

1. What happens if I miss a premium payment?

Bajaj Allianz provides a grace period of 30 days. If the premium is not paid within this period, the policy may lapse, and you could lose the accrued benefits. A reinstatement option may be available after paying the due amount with interest.

2. Can I switch funds during the policy term?

Yes, fund switches are allowed twice a year without any penalty. This flexibility helps you align the investment portion with changing market conditions or personal risk appetite.

3. Is the death benefit reduced if the market performs poorly?

No. The death benefit is guaranteed and does not depend on market performance. Your nominees will receive the guaranteed sum assured plus any loyalty additions, irrespective of fund value.

4. What is the lockin period for withdrawals?

Partial withdrawals are permissible after completing 5 policy years, subject to a lockin of 25% of the fund value per withdrawal and a maximum of 25% of the total fund value during the policy term.

Why Choose Bajaj Allianz Life?

Bajaj Allianz Life has a track record of strong claim settlement ratios, a wide network of branches, and innovative digital tools that simplify policy administration. Their expertise in both insurance and asset management makes the Assured Wealth Goal a balanced solution for modern financial needs.