Bajaj Allianz Future Gain

Bajaj Allianz Future Gain

by Editor

Bajaj Allianz Future Gain Overview

Bajaj Allianz Future Gain is a unit linked insurance plan that gives you an opportunity to gain maximum benefits at much affordable cost. This plan lets you optimize your investments – hence, ensuring that you get maximum value of your money.

How does this plan work?

In Bajaj Allianz Future Gain plan, after applying the applicable premium allocation charges, the premium paid by you will be invested as per the investment portfolio strategy chosen by you.
The premiums paid by you, after applying the applicable premium allocation rate, are invested as per your chosen portfolio strategy across the various applicable funds. The units are allocated at the prevailing unit price of the fund. The mortality charge and policy administration charge are deducted monthly through cancellation of units. Fund management charge is adjusted in the unit price.

Product Snapshot:

Entry Age 01 year60 years
Maturity Age18 years70 years
Policy Term10 years30 years
PremiumRs 25,00012,00,000
Premium Payment term5 years premium30 years
Sum Assured7 times Annualized Premium15 times Annualized Premium

Key Advantages of Bajaj Allianz Future Gain

Bajaj Allianz Future Gain is a non-participating, regular and limited premium ULIP meant for individual policyholders. Below enlisted are few of the key advantages associated with the plan:

• Maximum premium allocation
• 2 investment portfolio strategies to choose from
• Choice of seven (7) funds
• Top-up premium payment option
• Partial withdrawals option
• Option to change premium payment frequency
• Access to Decreasing sum assured option
• Settlement Option (take maturity benefit in instalments)
• Additional rider benefits

Benefits Payable Under Bajaj Allianz Future Gain

Maturity Benefit

It includes the regular premium fund amount combined with top-up premium fund amount as accumulated on the maturity date.

Death Benefit

Provided the policy is in full-force, the nominee will get the higher of the following:
The sum assured or regular premium fund amount combined with
The higher of top-up premium fund amount or top-up premium sum assured.

Claw-back Additions

Starting from the 5th policy year, at the end of each policy year, non-zero positive addition (if accumulated) will be added to the regular premium fund amount to manage as much as reduction in yield criteria r.

Surrender Benefit

Bajaj Allianz Future Gain plan has a lock-in period of 5 years.
If you surrender the plan during the lock-in period, you will get the regular premium fund amount after deducting the surrender (discontinuance) charges. The regular premium fund amount is coupled with the top-up premium fund value and the policy will be discontinued.

In case you surrender the policy after the lock-in period , the surrender value will consist of regular premium fund amount plus top-up premium fund value. This value will be immediately paid to you and the policy will be discontinued thereafter.

Additional Rider Benefit

Bajaj Allianz Future Gain plan offers options to get extra coverage by choosing the optional additional rider covers. Below enlisted are few of the additional riders available with the plan:

1. Bajaj Allianz ULIP Accidental Death Benefit Rider
2. Bajaj Allianz ULIP Critical Illness Benefit Rider
3. Bajaj Allianz ULIP Accidental Permanent Total/ Partial Disability Benefit Rider
4. Bajaj Allianz ULIP Waiver of Premium Benefit Rider
5. Bajaj Allianz ULIP Family Income Benefit Rider

Key Features Of Bajaj Allianz Future Gain

Premium paying term

You have the option to later your premium payment mode at any point of time, provided the particular option you are looking for is available under the policy. Also to avail this facility, make sure that you have already cleared all your due premiums till date.

Top up Premium

• You can enhance your investment by using top-up premiums above the value of your regular premiums.
• Top-up premiums will be considered as a single premium.
• The minimum top-up available with the plan starts from Rs 5000.

Decrease in Sum Assured

• After completing the first year unto the policy, you get an option to decrease the sum assured as per your requirement.
• The minimum sum assured you can opt for should be at least 10 times the annualized premium for entry age of less than 45 years and 7 times for entry age of 45 years and above.

Tax Benefits

Under the Bajaj Allianz Future Gain plan, you get tax benefits for the premium paid along with the maturity benefit, death benefit and surrender value.