Bajaj Allianz Life LongLife Goal: Check key features of this whole life insurance plan

Bajaj Allianz Life Insurance Company recently launched a new age unit-linked insurance plan - Bajaj Allianz Life LongLife Goal. It is a whole-life non-linked Unit-Linked Insurance Plan (ULIP) with attractive features like tax-free Retired Life Income, a life cover till 99 years and flexibility to make partial withdrawals in case of emergency, the company said. Bajaj Allianz LongLife Goal has two variants - one with the waiver of premium and the second without waiver of premium. The fund offers four different investment strategies to choose from on the basis of the investor's risk appetite - Investor Selectable Portfolio Strategy, Wheel of Life Portfolio Strategy II, Trigger Based Portfolio Strategy and Auto Transfer Portfolio Strategy. 

Some of the key features of Bajaj Allianz Life LongLife Goal policy are: 

Tax-free retired life income: This product enables subscribers to enjoy the benefits of investing in market-linked funds, and help you build a corpus to tide inflation and rising costs. Further, Retired Life Income is tax-free. It can be opted to be received as regular income for whole life, starting from the age of 55 years or as soon as you complete 10 policy years, whichever is later.
 
Cover for the whole life: This means that you pay a premium for a limited term ranging from 10 years to 25 years, and the policy will continue to cover you till you turn 99 years and ensures you can continue to keep your family’s life goals on track.

Period Return of Mortality Charges: The mortality charges are returned periodically every 10th policy year, after the life assured attains 60 years of age or the policy completes 15 years, whichever is later. This is added back to your retirement corpus, at maturity thus enhancing the value of the corpus. 

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Return Enhancer:  In this feature, each instalment of the Retired Life Income is increased by 0.5% over and above the % chosen by you.