Bajaj Life - Smart Wealth Goal II - Dynamic Asset Allocation Fund

Bajaj Allianz Life Smart Wealth Goal II is a non-participating, individual, life, Regular Premium, Limited Premium & Single Premium Unit-Linked endowment plan. You can opt for any one out of the three variants offered under the plan.
The chosen variant cannot be changed during the term of the policy.
Wealth
Child Wealth
Joint Life Wealth

Life cover payable in case of earlier occurrence of Death or Accidental Total Permanent Disability (ATPD)
All future prevailing premiums will be waived in case of earlier occurrence of Death or Accidental Total Permanent Disability
Income Benefit paid each year till end of policy term in case of earlier occurrence of Death or Accidental Total Permanent Disability
Systematic Partial Withdrawal to meet Child's Key Milestones
Loyalty Benefits
Return of Premium Allocation Charge (ROAC)
Fund Boosters
Return of Mortality Charges at maturity (ROMC) Return of Income Benefit Charge (ROIBC)

7 times Annualized Premium
Maximum Sum Assured in a policy will be as per the board approved underwriting policy (BAUP)

On occurrence of death or ATPD of the Life Assured, whichever is earlier, an additional benefit as Income Benefit will be payable.
i) Each installment of the Income Benefit is equal to one prevailing Annual Premium
ii) The Income Benefit is payable each Policy year till the end of the Policy term and the first Income Benefit instalment will be due on the Policy anniversary after the date of death or ATPD, whichever is earlier.
iii) In case of death of the Life Assured the Income Benefit is payable to the nominee and in case of ATPD it is payable to the Policyholder, at each Policy Anniversary for the remaining Policy term
iv) Income Benefit will be payable only if all the due Premiums are paid up to date
v) Income Benefit will not be payable in case of a Discontinued or Paid-up Policy

If all due Premiums are paid, then, in case of unfortunate death or Accidental Total Permanent Disability (ATPD) of the Life Assured, whichever is earlier, during the Policy term, the Benefit payable will be:
Prevailing Sum Assured plus
Prevailing Top up Sum Assured, if any
The Benefit is subject to a minimum of the Guaranteed Benefit of 105% of the Total Premiums paid, till the date of death
All the above is paid as on date of receipt of intimation of death at the Company's office.
The death and ATPD cover will terminate on the date of intimation of death or ATPD (whichever is earlier).
If this Benefit has been paid out due to occurrence of Accidental Total Permanent Disability (ATPD), then, on subsequent death of the Life Assured, no additional benefit is payable.

You have the option to surrender your Policy at any time.
i. On surrender during the lock-in period of first five years of your Policy, the Fund value, less the Discontinuance/Surrender charge, as on the date of surrender, will be transferred to the Discontinued Life Policy Fund, and all risk covers will cease immediately. The option to revive the policy will not be available to such a surrendered policy. The Discontinued value as at the end of the lock-in period will be available to you as Surrender Value.
ii. On surrender after the lock-in period of first five years of your Policy, the Surrender Value available will be Regular Premium Fund value, along with Top up Premium Fund value, if any, as on the date of surrender, and will be payable immediately.
iii. If the WOP and Income benefit has already been triggered under the Policy, then, the above-mentioned Surrender Value will be increased by the present value of future WOP installments and present value of outstanding income benefit installments (from the date of surrender), discounted at 4% p.a.
iv. The Policy shall terminate upon payment of the full Surrender/Discontinued value by Insurance Company.