Bajaj Allianz Life Insurance - POS Goal Suraksha Plan with sum assured up to Rs. 10 lakh starting at Rs. 450*/month
Product highlights
Key features and benefits of this policy
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Building your financial corpus with life insurance
Check out the benefits of investing in the right insurance plan.
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Get a guaranteed sum assured at maturity
Provided all due premiums are paid till maturity, the insured will receive a guaranteed sum assured on maturity.
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Guaranteed additions on maturity
The insured will receive guaranteed additions as a multiple of one annualised premium at maturity. This is provided all due premiums are paid.
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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. However, 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. This is 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 they 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: 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 that 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 is available only under the auto-debit process. This is as 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 | Your policy's Guaranteed Amount Assured on Maturity plus Guaranteed Additions will be paid on maturity, if all premiums are paid |
| 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 nominees or beneficiaries will be the: 100% of total premiums paid to date, excluding any extra premium, rider premium, and GST or any other applicable tax levied |
| Guaranteed additions | The insured will receive the maturity benefit and guaranteed additions as a multiple of one annualised premium |
| Key exclusions | Description |
|---|---|
| Suicide | The nominee will receive at least 80% of the total premium paid or the surrender value. Only if the insured commits suicide within 12 months of risk commencement or policy renewal, whichever is later |
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 raise a 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.
Contact No.: 1800 2201 02
Email at: balic.healthclaims@healthindiatpa.com -
Step 2 - Submit the required documents
Submit the necessary documents along with the duly filled claim form online. You can also submit it to the nearest branch of the insurer.
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Step 3 - Claim settlement
The insurer will assess the claim request. The claim initiator will receive the status via e-mail and SMS. The claim initiator can also check it online on the insurer’s website.
Documents required for raising a claim request
Here is the list of documents that 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. This includes 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, the insured will get the guaranteed sum assured on maturity plus guaranteed additions. This is provided all due premiums are paid. Post this, the policy will terminate.
In case of death due to an accident during or after the waiting period, the nominee or beneficiary will receive the death coverage.
The 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 during the waiting period other than due to an accident, the nominee will receive a death coverage. This will be:
100% of total premiums paid to date, rider premium, and GST or 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 75% of the surrender value of the policy.
You can get tax benefits on premiums paid for this policy under applicable tax laws.
