Bajaj Allianz Life Insurance - POS Goal Suraksha Plan with sum assured up to Rs. 10 lakh starting at Rs. 450*/month
Key features
Key features and benefits of this policy
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Get a guaranteed sum assured at maturity
At the end of the policy tenure, if all the premiums of the policy are duly paid till maturity, then the insured will receive a guaranteed sum assured on maturity.
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Guaranteed additions on maturity
If all due premiums are paid, the insured will receive Guaranteed Additions as a multiple of one annualised premium at maturity.
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Pay premiums for a limited term
A limited premium paying term gives you the flexibility to pay premiums for a stipulated time, while your policy cover stays active even beyond this time.
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Alter premium payment frequency
Get the flexibility to alter the premium payment frequency. The available frequencies are monthly, quarterly, half-yearly, and yearly.
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Sum assured on death
Sum Assured on death will be the higher of:
10 times of annualised premium, or 105% of total premiums paid as on date of death, or the sum assured.
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Option to take policy loan
Get the option to take a loan of up to 80% of the surrender value under this policy, subject to the terms and conditions specified in the policy document.
Eligibility criteria and documents required
Anyone can apply for the Bajaj Allianz POS Goal Suraksha Plan as long as you meet these basic criteria mentioned below. If you meet all the eligibility criteria, we will need a set of documents to complete your application process:
Eligibility criteria
- Nationality: Indian
- Age at entry: 18 years to 55 years
Documents required
- Photograph of the proposer
- Age proof, such as PAN card, passport, voter’s ID, birth certificate.
- Address proof, such as telephone bill, electricity bill, aadhar card, etc.
- Identity proof such as aadhar card, passport, PAN card, etc.
- Income proof such as form-16, salary slips, employment certificate, etc.
Step-by-step guide to buy this policy
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Step 1
Click on ‘Get Quote’ to open our online application form.
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Step 2
Enter the required details – amount you want to invest, name, date of birth, and contact number.
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Step 3
Choose your preferred plan from the list of products shown by clicking ‘Buy Now’.
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Step 4
Our representative will call you back and explain the products available for you to take an informed decision.
Policy details
Here’s a quick look at the policy details of Bajaj Allianz POS Goal Suraksha Plan:
| Policy details | Description |
|---|---|
| Policy type | Individual |
| Minimum premium amount (in Rs.) | Yearly: 3,000 | Half-yearly: 2,100 | Quarterly: 1,250 | Monthly: 450 |
| Minimum sum assured (in Rs.) | 30,000 |
| Maximum sum assured (in Rs.) | 10 lakh |
| Policy term (PT) and Premium payment term (PPT) | Policy Term - 10 years | Premium Payment Term – 7 years Policy Term – 15 years | Premium Payment Term – 5, 7, 8, 10 and 12 years Policy Term – 20 years | Premium Payment Term – 5, 7, 8, 10, and 12 years |
| Premium payment frequency | Yearly, half-yearly, quarterly and monthly Quarterly and monthly premium payment frequency will be allowed only under the auto-debit process (per the approved RBI facilities) |
Key inclusions and exclusions
Here’s a quick look at the inclusions and exclusions under the Bajaj Allianz POS Goal Suraksha Plan:
- Key inclusions
- Key exclusions
| Key inclusions | Description |
|---|---|
| Maturity benefit | On the maturity date, if all premiums are paid, the Guaranteed Sum Assured on Maturity plus Guaranteed Additions, under your policy, will be paid, and the policy will be terminated |
| Death benefit | Sum Assured on Death will be higher of: 10 times of Annualised Premium or 105% of Total Premiums paid as on date of death or the Sum Assured | In case of death during the waiting period, the death benefit payable to the nominee(s) / beneficiaries will be the: 100% of Total Premiums paid till date, excluding any extra premium, rider premium and Goods and Service Tax/any other applicable tax levied, subject to changes in tax laws |
| Guaranteed Additions | On the maturity date, if all due premiums have been paid, Guaranteed Additions as a multiple of one Annualised Premium will be paid along with the maturity benefit |
| Key exclusions | Description |
|---|---|
| Suicide | In case of death due to suicide within 12 months from the date of commencement of risk or the date of the latest revival of the policy, whichever is later, the nominee shall be entitled to at least 80% of the total premium paid or the surrender value, whichever is higher |
Product information
For complete details on product benefits, features, terms and exclusions, please read the product sales brochure and policy wordings carefully before concluding a sale.
How to claim
Follow these steps to raise claim requests for Bajaj Allianz POS Goal Suraksha Plan.
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Step 1 - Register your claim request
Register the claim request with the insurer through their website, e-mail or by calling their claim assistance contact number.
1. Contact No.: 1800 2201 02
2. Email at: balic.healthclaims@healthindiatpa.com -
Step 2 - Submit the required documents
Submit the necessary documents along with the duly filled claim form online or to the nearest branch of the insurer.
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Step 3 - Claim settlement
The claim request will be assessed, and the status will be informed to the claim initiator via e-mail and SMS. It can also be checked online on the insurer’s website.
Documents required for raising a claim request
Here is the list of documents you need to raise a claim for Bajaj Allianz POS Goal Suraksha Plan:
- Original policy documents
- Attested copy of death certificate issued by local municipal authority
- Death claim intimation form
- NEFT mandate form attested by bank authorities or copy of cancelled cheque or bank account passbook
- Nominee's photo identity and address proof such as copy of passport, voter identity card, aadhar (UID) card, etc.
- FIR copy or post-mortem report in case of an accidental/unnatural death
Frequently asked questions
On the maturity date, if all premiums are paid, the Guaranteed Sum Assured on Maturity plus Guaranteed Additions, under your policy, will be paid, and the policy will terminate.
In case of unfortunate death of the Life Assured due to an accident during the waiting period or in case of death of the Life Assured after the waiting period due to any cause, the death benefit is payable to the nominee(s)/ beneficiaries. Such death benefit is stated as Sum Assured on Death which is as below.
Sum Assured on Death will be higher of
1. 10 times of Annualised Premium
2. 105% of Total Premiums paid as on date of death,
3. Sum Assured
In case of death of the Life Assured during the Waiting period other than due to an accident, the death benefit payable to the nominee(s) / beneficiaries will be the
100% of Total Premiums paid till date, excluding any extra premium, rider premium & Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws.
The policy will terminate on payment of the death benefit.
The waiting period is the first 90 days from the date of commencement of risk and is not applicable in case of revival.
You will have the option to change the premium payment frequency under this policy at any policy anniversary. The available frequencies are – monthly, quarterly, half-yearly, and yearly.
Yes. This policy provides a loan facility once it acquires a surrender value. The policyholder can take a loan of a maximum amount of 80% of the Surrender Value of the policy.
You can get tax benefits on premiums paid for this policy under applicable tax laws.
