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Bajaj Life LongLife Goal
Preparing for long term goals and saving accordingly is practically a mandatory requirement in everyone’s life. The Bajaj Life LongLife Goal policy is an individual, non-participating, regular premium payment ULIP plan, designed to offer flexibility and lucrative returns during, as well as after maturity. With the option of selecting from four distinct investment portfolio strategies and 8 different funds, it also offers the ultimate flexibility with umpteen number of free switches in between.
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Bajaj Life ULIP Plans
- Bajaj Life LongLife Goal
With a plethora of impeccable advantages, one gets the ultimate investment option when one buys Bajaj Life LongLife Goal.
Bajaj Life LongLife Goal Detail:
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Parameters |
Details |
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Policy Tenure |
99 years minus age of entry of the life assured |
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Premium Paying Term |
10 - 25 years |
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Premium Paying Mode |
Monthly, quarterly, bi-annually and annually |
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Entry Age |
Minimum – 18 years Maximum – 65 years |
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Maturity Age |
99 years |
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Grace Period |
30 days |
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Sum Assured |
10 times the annualized premium |
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Liquidity |
N/A |
Benefits of the Bajaj Life LongLife Goal
The core benefits of the Bajaj Life LongLife Goal are as follows:
Maturity Benefits – A maturity benefit will be paid out when the policy reaches maturity, which will be calculated as the fund value as on the said date. This will only be applicable if the Bajaj Life LongLife Goal policy status is active at the time. *Standard T&C Apply
Death Benefits – A death benefit, that is calculated as the higher of fund value or the prevailing sum assured shall be payable to the beneficiary or nominee in case the life assured passes away at any time of the policy, provided the premiums have been duly paid up until that date. *Standard T&C Apply
Partial Withdrawal Facility – After the fifth year of the policy is complete; one can make partial withdrawals from their fund portfolio should the need arise. The minimum amount one can take at a time is Rs. 5000 and the fund value should not fall below 105% of the annualized premium. *Standard T&C Apply
Tax Benefits – The Bajaj Life LongLife Goal offers tax exemption on the maturity benefit, death benefit, and partial withdrawal as well as on premium payments. Any retired life income is also eligible for tax benefits as permitted by the government bodies at the time. * Tax benefit is subject to changes in tax laws
People Also Read: Bajaj Life Dynamic Asset Allocation Fund
The Premiums for Bajaj Life LongLife Goal
Monthly, quarterly, bi-annual and annual modes of payments can be made with Bajaj Life LongLife Goal premium instalments. Top-up premium is not a supported feature on this plan. For the exact calculation of payments to be made depending on the mode of payments chosen to be made, the Bajaj Life LongLife Goal calculator is available online for a clear figure. *Standard T&C Apply
Additional Riders for Bajaj Life LongLife Goal
There are no add-on riders with this plan. However, there is an accidental disability benefit associated with the online Bajaj Life LongLife Goal policy, which will pay the balance premiums as well as a maturity benefit in case of such a case happening.
People also read: Bajaj Life NFO
Eligibility for Bajaj Life LongLife Goal
- Minimum Age of entry – 18 years
- Maximum Age of entry – 65 years
What are the documents required to buy this policy?
To buy the online Bajaj Life LongLife Goal plan, one needs to submit the following documents.
- Identification papers – PAN card, passport, Aadhar card, driver’s license, etc.
- Proof of address –ration card, Driver’s license, utility bills, and voter’s ID, Aadhar card, etc.
- Proof of income papers – Income tax returns, salary slips, financial asset portfolios (if needed)
Latest ULIP NAVs
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How to buy this plan online?
To get details on how to buy this plan, one can visit the official website of Policybazaar to get the customer care numbers or email address and speak to a person who will guide him/her through the application process and other necessary details.
People Also Read: bajaj Life midcap index fund nfo
Exclusions of Bajaj Life LongLife Goal
Death by suicide, the overdose of illegal substances, alcohol abuse, drugs, death, or disability due to participation in terrorism-related activities will all count as exclusions of this plan. If the person, sane or insane, dies within a year of the commencement of the plan, the death benefit paid out shall be at the perusal of the terms and conditions stated in the policy papers. *Standard terms and conditions apply.
FAQs
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Q1. What type of plan is this?
Ans:. This is a unit-linked, non-participating, individual, life, regular premium payment plan. -
Q2. What does a free-look period essentially mean?
Ans:. A free-look period means that within 15 days of purchasing the policy if you change your mind, you can get the policy cancelled and get a refund for your entire amount provided no claims have been made within that period. -
Q3. Can a minor be a nominee?
Ans:. A minor can be a nominee provided there is a legal guardian overlooking the policy who is of sound age. Once the minor reaches adulthood, then he/she can be the official acting nominee and get the benefits. -
Q4. When is the loyalty additions paid out?
Ans:. The company will allocate loyalty additions every passing year after the first 5 years of the policy are completed. This will be calculated as a percentage of one annualized premium. -
Q5. Is there an option of surrendering the policy?
Ans:. Yes. You can surrender the policy at any given time, after which you will be eligible to receive the surrender benefit. -
Q6. What are the four portfolio strategies I can choose from?
Ans:. This plan offers 4 portfolio strategies which can be selected during the inception of the same. These 4 policies are:- Auto transfer portfolio strategy
- Trigger-based portfolio strategy
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Q7. Is the option of reducing the premium available with Bajaj Life LongLife Goal plan?
Ans:. You can choose to reduce the premium payment of this plan after the first five years of the completion of the policy. This reduction can only be up to a maximum of 50% of the premium, which is decided at the commencement of this policy.
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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ