Bajaj Allianz ULIP Plans

Bajaj Allianz ULIP Plans

by Editor

Bajaj Allianz ULIP Plans Overview

Bajaj Allianz Life Insurance Company, not to be confused with Bajaj Allianz general insurance company, is a joint venture between Allianz SE and Bajaj Finserv Ltd. Bajaj Allianz Life Insurance Company Limited has a perfect blend of local experience with global expertise. It offers comprehensive life insurance plans in India at competitive premiums. Bajaj Allianz life insurance customer care is customer oriented that offers best customer care service.

Bajaj Allianz ULIP plans

Listed below are the Bajaj Allianz ULIP plans.

Bajaj Allianz Life Goal Assure Plan

Offered by Bajaj Allianz life insurance company limited, Bajaj Allianz Life Goal Assure is a ULIP formulated for accomplishment of investor’s life goals. It’s an individual, non-participating, regular and limited premium ULEP i.e. Unit-Linked endowment plan. The plan offers a golden opportunity to plan ‘once in a lifetime’ experiences without any stress. Bajaj Allianz ULIP offers various benefits and protection from the 1st day of the policy issuance.

Features of Bajaj Allianz Life Goal Assure Plan

Here are the features of the plan

Return Enhancer

The plan offers the option to receive maturity benefit in installments with the help of return enhancer.

Choice of funds

The plan offers a choice of eight fund options.

Choice of portfolio strategies

The plan offers a choice of four investment portfolio strategies.

Flexibility of decreasing the sum assured

The plan comes with the flexibility to decrease the assured sum.

Flexibility of changing the premium payment term

The plan comes with the flexibility to change the tenure of premium payment as per policyholder’s preference.

Loyalty add-ons

The plan offers loyalty add-ons if the policy is continued till the end of the maturity The benefit is applicable for plans having an annualized premium of Rs. 5 Lakh and above and the policy tenure of 10 years or above.

Lock-in period

The unit-linked insurance plans don’t offer liquidity during the first 5 years of the plan. The insured can withdraw the invested money in unit-linked insurance plans partially or completely from 6th policy year onwards.

Benefits of Bajaj Allianz Life Goal Assure Plan

Here are the benefits of Bajaj Allianz ULIP

Death Benefit

If a policyholder passes away before the date of maturity, the death benefit shall be paid out to the policyholder’s nominee as per following:

The higher of the assured sum or fund value of regular premium in addition with the higher value of the sum assured for top-up or fund value of a top-up premium, if applicable.

Maturity Benefit

The maturity benefit under the plan will be the fund value of regular premium along with the fund value of top-up premium (if any) as on the date of maturity.

Loyalty Additions

From 6th policy year onwards, the insurance provider will offer loyalty additions up to 1.5 percent to the fund value of regular premium.

Fund Booster

At the end of policy tenure, fund booster up to 60 percent shall be added to the fund value of regular premium. The benefit is applicable for policy tenure of 10 years or above.

Return of Mortality Charge

By the end of the policy tenure, the total deducted mortality charges for providing life cover throughout the plan tenure shall be credited as ROMC benefit to the fund value of regular premium and fund value for top-up premium (if applicable).

Note- the ROMC benefit is not applicable for a discontinued, paid-up or surrendered policy.

Bajaj Allianz Future Gain Plan

Bajaj Allianz Future Gain is a ULEP i.e. a Unit linked endowment plan, non-participating, limited and regular premium plan. Bajaj Allianz ULIP plans offer the highest returns on investment of and utilize every single invested Rupee for the future gains.

Features of Bajaj Allianz Future Gain Plan

Here are the features of the Bajaj Allianz ULIP

Various Fund Options

The plan comes with seven fund options to fulfill various investment expectations of various investors.

Partial Withdrawals

The plan comes with a facility of making partial withdrawals from the funds.

Maximum premium allocation

The plan comes with maximum premium allocation that ensures that the invested amount is utilized to achieve the goal of maximum wealth generation.

Dual Investment Portfolio Strategies

The plan comes with two investment portfolio strategies. The policyholder can select a portfolio strategy on the basis of his/her investment expectations.

Top-up Premium

In case the policyholder needs to avail a top-up, he/she can select it as per his/her investment needs.

Life cover

The plan provides life cover.

Additional riders

The plan comes with the facility of enhancing the basic insurance coverage with additional riders.

Flexibility of altering frequency of premium payment

The plan comes with the flexibility of altering frequency of premium payment. The policyholder can avail this facility as per his/her finances.

Flexibility of decreasing the sum assured

The plan comes with the flexibility to decrease the assured sum.

Settlement option

The plan comes with the option of availing maturity benefit in installments.

Benefits of Bajaj Allianz Future Gain Plan

Here are the features of the Bajaj Allianz ULIP.

Maturity Benefit

The maturity benefit under the plan will be the fund value of regular premium along with the fund value of top-up premium (if any) as on the date of maturity.

Death Benefit

If a policyholder passes away before the date of maturity, one-time payment shall be paid out to the policyholder’s nominee as per following:

The higher of the assured sum or fund value of regular premium in addition with the higher value of the sum assured for top-up premium or fund value of a top-up premium, if applicable.

Note- The DB i.e. death benefit is subjected to the GDB i.e. guaranteed death benefit, that is 105 percent of the total paid premiums including paid top-up premiums, if applicable.

Death before 60 years of age

In case the policyholder passes away before 60 years of age, the assured sum will be decreased in case the funds are partially withdrawn from the fund of regular premium during the period of two years before the date of death of the insured.

Death after 60 years of age

In case the policyholder passes away after 60 years of age, the assured sum will be decreased in case the funds are partially withdrawn from the fund of regular premium during the period of two 2 before attaining 60 years of age and all the funds are partially withdrawn after attaining 60 years of age.

Top Up

In case the funds are partially withdrawn from the top-up fund, no deductions will be applicable for the ULIP offered by Bajaj insurance.

Tax Benefit

Tax benefits shall be applicable for the paid premiums, surrender value, death benefit, and maturity benefit as per the applicable Income Tax Act.

Bajaj Allianz Fortune Gain

Bajaj Allianz Fortune Gain is an individual, non-participating plan that provides maximum gains to the policyholder by ensuring minimal deductions. It is a single premium ULEP i.e. unit-linked endowment plan. Bajaj Allianz ULIP plans ensure that investor’s money is optimally utilized for wealth generation. The insurance buyers can conduct a Google search by typing Bajaj Allianz return calculator and calculate the estimated returns on investment.

Features of Bajaj Allianz Fortune Gain Plan

Here are the features of the Bajaj Allianz ULIP.

Switching

The plan comes with an option to avail systematic switching in order for the better management of the investments.

Various Fund Options

The plan comes with seven fund options to fulfill various investment expectations of various investors.

Premium Allocation Charges

For the single premium plan for 10 lakh and more, the plan comes with premium allocation up to up to 99.5 percent.

Top-up Premium

In case the policyholder needs to avail a top-up, he/she can select it as per his/her investment needs.

Flexibility of decreasing the sum assured

The plan comes with the flexibility to decrease the assured sum.

Partial Withdrawals

The plan comes with a facility of making partial withdrawals from the funds.

Settlement option

The ULIP offered by Bajaj insurance comes with the option of availing maturity benefit in installments.

Benefits of Bajaj Allianz Fortune Gain Plan

Here are the benefits of the plan.

Surrender Benefit

The plan comes with an ease of surrendering at any point of Here are the surrender details.

For First 5 Policy Years

At the time of surrendering during the first 5 years i.e. lock-in period, surrender/ discontinuance fee and the fund value of top-up premium (if applicable) will be deducted from the fund value of a single premium, and the balance amount will be credited as surrender value.

After First 5 Policy Years

At the time of surrendering after the first 5 years, the surrender value shall be the fund value of single premium and fund value of the top-up premium, if applicable.

Loyalty Add-ons

The plan offers loyalty add-ons up to 3 percent that shall be credited to the fund value of the policyholder at the time of maturity.

Maturity Benefit

The maturity benefit under the plan will be the fund value of single premium along with the fund value of top-up premium (if any) as on the date of maturity.

Death Benefit

If a policyholder passes away before the date of maturity, one-time payment subject to GDB i.e. guaranteed death benefit shall be paid out to the policyholder’s nominee as per following:

The higher of the assured sum or fund value of single premium in addition with the higher value of the sum assured for top-up premium or fund value of a top-up premium, if applicable.

Note-The DB i.e. death benefit under ULIP offered by Bajaj insurance is subjected to the GDB i.e. guaranteed death benefit, that is 105 percent of the total paid premiums including paid top-up premiums, if applicable.

Death before 60 years of age

In case the policyholder passes away before 60 years of age, the assured sum will be decreased in case the funds are partially withdrawn from the fund of single premium during the period of two years before the date of death of the insured.

Death after 60 years of age

In case the policyholder passes away after 60 years of age, the assured sum will be decreased in case the funds are partially withdrawn from the fund of single premium during the period of two 2 before attaining 60 years of age and all the funds are partially withdrawn after attaining 60 years of age.

Top Up- In case the funds are partially withdrawn from the top-up fund, no deductions will be applicable.

Bajaj Allianz Life Principal Gain Plan

It is an individual, non-participating, limited and regular premium ULEP, i.e. unit linked endowment plan. Bajaj Allianz ULIP plans offer a variety of investment benefits.

Features of Bajaj Allianz Life Principal Gain

Here are the features of the plan.

Guaranteed Loyalty Add-ons

The plan offers guaranteed loyalty add-ons at the time of maturity.

Triple benefit

It offers the triple benefits of life cover, potential high returns on investment and principal protection.

Settlement Option

The plan comes with an option to receive maturity benefit on an installment basis.

Variety to Choose from

The plan comes with various premium payment periodicity and policy tenures.

Benefits of Bajaj Allianz Life Principal Gain Plan

Here are the benefits of the ULIP offered by Bajaj insurance.

Guaranteed Loyalty Add-ons

In case a policyholder has paid premiums for a minimum time period of five years, GLA up to 15 percent of the yearly premium is paid credited to the value of value.

Maturity Benefit

At the time of maturity, the policyholder shall get receive higher:
The value of fund inclusive of GLA i.e. guaranteed loyalty additions or GMB guaranteed maturity benefit of 101 percent of the total paid premiums.

Surrender Benefit

The plan comes with an ease of surrendering at any point of Here are the surrender details.

For First 5 Policy Years

At the time of surrendering during the first 5 years i.e. lock-in period, surrender/ discontinuance fee and the fund value of top-up premium (if applicable) will be deducted from the fund value of, and the balance amount will be credited as surrender value.

After First 5 Policy Years

At the time of surrendering after the first 5 years, the surrender value shall be the fund value.

Death Benefit

In case an insured passes away during the policy tenure, the payable DB is higher of the following.
1: Fund value
2: Sum assured
3: Guaranteed Death Benefit at the rate of 105 percent of the total paid premiums.

Bajaj Allianz Life Goal Based Saving Plan

It is a new age ULIP that offers an investment opportunity. Bajaj Allianz Life Goal Based Saving helps to gain investment benefits at an affordable premium. Bajaj Allianz ULIP plans are formulated to fulfill various investment expectations of the various investors. The plan is one of the best goal-oriented investments available in the investment market.

Features of Bajaj Allianz Life Goal Based Saving Plan

Here are the features of the plan.

Flexible Premium Payment Term

The plan comes with single, regular and limited premium payment term. It offers much-needed flexibility to the insurance buyer.

Top-up Premium

In case the policyholder needs to avail a top-up, he/she can select it as per his/her investment goals.

Flexibility of altering frequency of premium payment

The plan comes with the flexibility of altering frequency of premium payment. The policyholder can avail this facility as per the availability of finances.

Various Fund Options

The plan comes with eight fund options to fulfill various investment expectations of various investors.

ROMC

The plan comes with the option of return of morality charges. This feature is offered exclusively for limited and regular premium plans.

Partial Withdrawals

The plan comes with a facility of making partial withdrawals from the funds.

Flexibility of decreasing the sum assured

The plan comes with the flexibility to decrease the assured sum. This feature is offered exclusively for single premium plans.

Settlement option

The policyholder can opt to get the maturity benefit payout on an installment Additionally, the plan comes with return enhancer settlement option that offers extra hike of 0.5 percent per installment.

Benefits of Bajaj Allianz Life Goal Based Saving Plan

Here are the benefits of the plan.

Maturity Benefit

The maturity benefit under the plan will be the fund value of single/ regular premium along with the fund value of top-up premium (if any) as on the date of maturity.

Death Benefit

If a policyholder passes away before the date of maturity, the death benefit shall be paid out to the policyholder’s nominee as per following:

For Single Premium

The higher of the assured sum or fund value of single premium in addition with the higher value of the sum assured for top-up or fund value of a top-up premium, if applicable.

For Limited/ Regular Premium

The higher of the assured sum or fund value of regular premium in addition with the higher value of the sum assured for top-up premium or fund value of a top-up premium, if applicable.

Discontinuance during the first five policy years

If a policyholder fails to pay the premium during the first five policy years, the discontinuance value of the fund shall be paid out as a death benefit.

Discontinuance after the first five policy years

If a policyholder fails to pay the premium after the first five policy years, and he/she has availed the option of converting the policy into paid-up with decreased paid-up assured sum, the payable death benefit shall be:

The higher of the paid-up assured sum or fund value of regular premium in addition with the higher value of the sum assured for top-up or fund value of a top-up premium, if applicable.

Tax Benefits

The plan offers tax benefit as per the applicable section under the Income Tax Act.

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