Bajaj Allianz Life LongLife Goal Plan

It is an ideal investment choice that provides good returns along with a secure life cover. This plan is an individual, whole life, non-participating, Unit Linked endowment plan.  It helps to build up your retirement income by investing in long-term market-linked investments. This plan is an ideal solution for a comfortable and safe retirement life. Bajaj Allianz Life LongLife Goal reviews have been positive and mention key features like good returns, loyalty additions, and periodic Return of Mortality Charges that help you meet your retirement goals. 

Bajaj Allianz Life LongLife Goal Plan Details:

Benefits of the Bajaj Allianz Life LongLife Goal Policy

The following are the core benefits offered by LongLife Goal Plan by Bajaj Allianz Life:

1. 4 Investment Portfolios

   The policyholder gets an option to choose from 4 investment strategies -Investor Selectable Portfolio, Wheel of Life Portfolio II, Trigger Based Portfolio, and Auto Transfer Portfolio.

2. 8 Fund Options

   The user can use any investment strategies to invest among eight available mid-cap, large-cap, and ethical funds that offer a steady rate of returns.

3. 2 Plan Variants

   This plan comes in two variants:

   • LongLife Goal with a waiver of premium 
   • LongLife Goal without waiver of premium 

4. Waiver of Premium

   This is available under the LongLife Goal plan with Waiver of Premium variant. Here, in case of the policyholder’s death or his permanent total disablement within the policy tenure, there is a waiver of all future premiums. The policy continues with all the previous benefits. 

5. Whole Life Cover

   This policy provides whole life coverage for the policyholder until the age of 99.

6. Retirement Income

   The policyholder can opt for systematic fund withdrawal post 55 years of age or upon completion of 10 years of the policy, whichever is later. Any amount between 0-12% of the fund can be withdrawn annually. 

7. Return Enhancer

   The policyholder can start a regular income schedule after 55 years of age, based on his chosen options. Each withdrawal instalment is increased by an extra 0.5% over the desired percentage as an additional benefit. 

8. Return of Life Cover Charges

   In case of Long-life Goal with a waiver of premium option, the total amount of premium waiver charges deducted are added back regularly to the value of the fund.

9. Loyalty Addition

   The plan gives a 2-7% of one annualized premium as loyalty additions to the fund value every year. This starts from the 5th policy year till 25 years of the policy. The maximum limit is 102% over 20 years.

10. Partial Withdrawal Option

    This option is allowed after completing 5 policy years. The minimum amount is Rs 5,000, and it is subject to limitations of the fund value post withdrawal.

11. Tax Benefits

    The policy gives tax benefits on premium payments, partial withdrawal, Death benefits, Maturity benefits, and retirement income.

*Tax benefits are as per prevailing laws of the land  

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The premium for Bajaj Allianz Life LongLife Goal

The Bajaj Allianz Life LongLife Goal premium amount will be based on the type of investment portfolio strategy for the fund chosen by the policyholder. Bajaj Allianz Life LongLife Goal calculator online can help you with the various premium amounts.

You can opt to reduce the existing premium under the policy after the first five years at an additional charge. This reduction will be up to a maximum of 50% of the initial premium.

Additional Riders for Bajaj Allianz Life LongLife Goal Policy

This policy has a Waiver of Premium or WOP rider as an additional benefit. With this rider in force, in case of any future permanent total disability of the policyholder within the plan tenure, there is a waiver of all future premiums.

Eligibility for Bajaj Allianz Life LongLife Goal

For Plan Variant with Waiver of Premium:

Life assured-0-65 years

Policyholder-18-65 years

For Plan Variant without Waiver of Premium: 

18 years and above 

There is no maximum age limit

What are the Documents Required to Buy this Policy?

Here is the list of documents required to buy Bajaj Allianz Life LongLife Goal Plan:

• Identity Proof- Passport/Voter ID/ Driving License
• Address Proof- Passport/ AADHAAR Card/ Driving License/ Voter ID/Utility Bills
• Age Proof- Passport/ DOB Certificate
• Recent photograph

How to Buy this Plan Online?

• For online Bajaj Allianz Life Longlife Goal, you can visit the insurer’s website at www.bajajallianzlife.com and fill in the details
• Alternatively, you can visit longlifegoal
• You need to fill in your details like DOB and email id
• Select the plan variant, rider, the sum assured, and investment information
• Choose the premium amount
• Opt for a portfolio strategy as per your life goals
• Choose among the 8 fund options if you are opting for Investor selectable Portfolio Strategy
• After all, selections are made; choose from the multiple payment options online to make the premium payment
• Your policy document will be emailed to you
• You can also check the Bajaj Allianz Life LongLife Goal Policy status online

Exclusions of Bajaj Allianz Life LongLife Goal Policy

• Once a policyholder opts for a reduction of premiums under the policy after 5 years of policy completion, the same cannot be increased
• No systematic withdrawal of the funds is allowed if the policyholder is below 55 years or the policy has not completed 10 years

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