Steps to buy
Steps to buy Bajaj Allianz Life Guaranteed Income Goal
- Step 1: Choose the variant: Income Benefit or Lump-sum Benefit
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Step 2: Choose the Sum Assured
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Step 3: Decide if you want to opt for the Extended Life Cover option to extend the cover beyond the policy term
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Step 4: Choose your policy term and premium payment term from available options
Note -
- Variant can be chosen at inception only cannot be changed subsequently
- Extended Life Cover option has to be chosen at inception only and cannot be opted for or opted out of (once chosen) subsequently.
- Please note that the Basic Sum Assured is lower than the total premiums paid and varies basis the age of the Life assured, policy term, premium paying term
Eligibility criteria
Entry Age
Minimum Age at Entry
Maximum Age at Entry
Maturity Age
Minimum Age - 18 years
Maximum Age - 72 years
- The maximum maturity age does not include the Extended Life Cover, if opted for or Income Period
- For policies purchased through POS channel, the maximum Age at Maturity will be as per prevailing POS guidelines, as amended from time to time
Maximum Age for termination of life cover (if Extended Life Cover is opted) - 84 years
For policies purchased through POS channel, the maximum Age for Termination of Life Cover (if ELC is opted for) will be as per prevailing POS guidelines, as amended from time to time
Lump-sum Benefit
Lump-sum Benefit
Lump-sum Benefit |
Policy Term (In years) |
10 |
12 |
15 |
20 |
Premium Payment Term (In years) |
5, 7, 10 |
5, 7, 8, 12 |
5, 7, 8, 10, 12 |
5, 7, 8, 10, 12 |
Lump-sum Benefit |
Policy Term (In years) |
5 |
7 |
10 |
12 |
Premium Payment Term (In years) |
5 |
7 |
5, 7, 10 |
5, 7, 12 |
Minimum Premium (Rs) |
Variant |
Yearly |
Half-Yearly |
Quarterly |
Monthly* |
Lump-sum |
22,243 |
11,344 |
5,783 |
2,002 |
Income |
28,822 |
14,699 |
7,494 |
2,594 |
Maximum Premium |
As per Maximum Sum Assured |
Minimum Sum Assured |
Rs. 1,00,000 |
Maximum Sum Assured |
Based on Board Approved Underwriting Policy
|
Premium Payment Frequency |
Yearly, Half yearly, Quarterly and Monthly
*Quarterly & Monthly premium payment frequency will be allowed only under auto-debit process (as per the approved RBI facilities) |
All the references to age are Age as on last birthday
Risk cover will commence immediately on the date of commencement of risk of the policy and, in the case of a minor life, policy will vest on the life assured on the earlier of attainment of majority (i.e., 18 years age last birthday) and on maturity date.
For policy purchased through POS channel no medical underwriting is required.
Premium will vary depending upon the Variant chosen.