Bajaj Life Goal-Based Saving III Plan

Eligibility Criteria for the Bajaj Life Goal-Based Saving III Plan

Features of Bajaj Life Goal-Based Saving III Plan

Here are the key features of the plan:

1. Goal-Based Investment Strategy

   The plan helps policyholders invest systematically to achieve specific financial goals.

2. Life Insurance Protection

   It provides financial security for the policyholder’s family through life cover during the policy term.

3. Multiple Fund Options

   Investors can choose from equity, debt, or balanced funds depending on their risk tolerance.

4. Flexible Premium Payment Options

   Policyholders can select premium payment modes that match their financial capacity. With the Bajaj Life ULIP Plan, individuals can invest in various funds while ensuring financial security for their families.

5. Switching Between Funds

   The plan allows investors to switch between available funds to manage their portfolio according to market conditions.

   Individuals seeking structured financial planning may also consider a savings plan that supports disciplined wealth creation.

Benefits of the Bajaj Life Goal-Based Saving III Plan

Below are the benefits of this plan:

1. Death Benefit

   The nominee is entitled to the relevant death benefit based on the policy in the event of the unfortunate demise of the policyholder during the policy term.

2. Maturity Benefit

   In case the policyholder is alive till the expiry of the policy term, he or she can claim the maturity benefit as per the value of the accumulated fund.

3. Wealth Accumulation

   The long-term capital growth may help the investors, as the policy may be associated with the performance of the market.

4. Financial Planning: Goal-Oriented

   The plan assists people in determining long-term financial goals like education or retirement.

5. Tax Benefits

   Tax benefits may be available on the premiums paid and benefits received, as per prevailing income tax laws.

Riders Under the Bajaj Life Goal-Based Saving III Plan

Riders can enhance the protection offered by the base policy. The following optional riders may be available:

• Accidental Death Benefit Rider
• Accidental Permanent Total/Partial Disability Rider
• Critical Illness Rider
• Waiver Of Premium Rider

These riders help provide additional financial support in case of unforeseen events.

Policy Details of the Bajaj Life Goal-Based Saving III Plan

Below are important policy provisions:

1. Grace Period

   • 15 days of the monthly premium payment mode.
   • 30 days for annual, semi-annual, or quarterly premium payment options.

2. Revival

   • The revival of lapsed policies is possible within the allowed revival time.
   • To be revived, the outstanding premiums and other charges are payable.

3. Free Look Period

   • The policyholders have a period of 15 days in which they go through the policy.
   • The policy can be terminated at this time in case the terms are not satisfactory.
   

4. Surrender

   • The option is to give up the policy once the lock-in period is over.
   • Surrendering will also be done according to the relevant policy requirements.

5. Fund Switching

   • Policyholders are allowed to invest in different funds that are available.
   • This aids in controlling investment risk with regard to financial objectives and market performance. By selecting the best investment plans for higher returns, investors can plan effectively for retirement, savings, and wealth creation.

Exclusions Under the Bajaj Life Goal-Based Saving III Plan

1. Suicidal Cover

   In case the policyholder commits suicide within 12 months of the date of commencement of the policy or revival date, the amount of benefits that would be payable would be restricted according to the policy terms.

2. Total Permanent Disability (TPD)

   Total permanent disability benefits only pay out under the stipulated conditions of the policy and only on such an occurrence during the policy term.