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Future Gain - A Unit-linked Endowment Insurance Plan

     

Future Gain

A Unit-linked Endowment Insurance PlanLearn More

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 I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to contact me. It will override my registry on the NCPR.Read more
 

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About
Bajaj Allianz Future Gain

We all seek opportunities to gain maximum benefits at the lowest cost. When we decide to invest our monies, we want every rupee of our hard earned money to be utilized fully for our future gains. Helping the investor in you, we present Bajaj Allianz Future Gain - a Unit-Linked Endowment Plan that provides for maximum premium allocation to make sure that your valuable money is fully utilized towards your dream future.

Tax Benefits

Premium Paid, maturity benefit, death benefit and surrender value are eligible for Tax benefits as per extant Income Tax Act, subject to the provision stated therein. Please consult your Tax Consultant before investing
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Key Features

  • Maximum premium allocation
  • Choice of 2 investment portfolio strategies
  • Choice of seven (7) funds
  • Option to make partial withdrawals from the funds
  • Option to pay top-up premium
  • Option to decrease sum assured
  • Option to alter premium payment frequency
  • Option to take maturity benefit in installments (Settlement Option)

RightInvest Calculator

Do you have the right invested amount in order to reach your dream value?
Find out with Bajaj Allianz Right Invest Calculator!

RightInsure Amount Calculator

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How Does Your Plan Work?

In Bajaj Allianz Future Gain, 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.

RetireRich Calculator

RetireRich Calculator

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Am I Eligible?

Parameter Details
Minimum Entry Age 1 year
Maximum Entry Age 60 years
Minimum Age at Maturity 18 years
Maximum Age at Maturity 70 years
Minimum Policy Term 10 years
Maximum Policy Term The policy term will be as follows
Premium Paying Term 5 or 6 Other PPTs
Policy Term 10, 15 to 20 years 10, 15 to 30 years
Premium Payment Term (PPT) 5 to 30 years
Minimum Premium
(Modal Premium)
Frequency Yearly Half-yearly Quarterly Monthly* Top - up
Premium (in Rs.) 25,000 12,500 6,500 2,500 5,000
*Monthly premium payment frequency will be available under salary deduction scheme & ECS.
Maximum Premium
Frequency Yearly Half-yearly Quarterly Monthly
Premium (in Rs.) 12,00,000 6,00,000 3,00,000 1,00,000
Premium Payment Frequency Yearly, Half Yearly, Quarterly and Monthly
Minimum Sum Assured
Age Higher of
Less than 45 years 10 times Annualized Premium 0.5 * Policy term * Annualized Premium
Greater than or equal to 45 years 7 times Annualized Premium 0.25 * Policy term * Annualized Premium
For example, for an age less than 45 years and policy term of
i. 15 years the minimum Sum assured available will be 10 times Annualized Premium
ii. 22 years the minimum sum assured available will be 11 times of Annualized premium i.e. (0.5*22* Annualized premium)
Maximum Sum Assured X* Annualized Premium, where X is based on age at entry and Policy term as mentioned below
Policy Term/ Age at entry 1 - 35 36 - 40 41 - 44 45 - 50 51 & above
10 & 15 15 15 10 10 Minimum SA
16-20 15 15 10 Minimum SA Minimum SA
21-25 15 12.5 Minimum SA Minimum SA NA
26-30 15 Minimum SA Minimum SA NA NA
Minimum & Maximum Sum Assured on Top up Premium
Age Top-Up Sum Assured Multiplier
Less than 45 years 1.25 times
Greater than or equal to 45 years 1.1 times

Age calculated is age as at the last birthday
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Policy Benefits and Features
What's in it for You?


Maturity Benefit

Under Bajaj Allianz Future Gain, the maturity benefit will be the regular premium fund value plus top up premium fund value as on the maturity date, provided the policy is in-force.

Surrender Benefit

You have the option to surrender your policy at anytime.

  • On surrender during the lock-in period of first five years of your policy, the regular premium fund value, less the discontinuance/surrender charge plus the top up premium fund value, if any, as on the date of surrender, will be transferred to the discontinued life policy fund (maintained by the company), and life cover shall cease immediately. The discontinuance value as at the end of the lock-in period will be available to you as surrender value.
  • On surrender after the lock-in period of first five years of your policy, the surrender value available will be regular premium fund value plus top up premium fund value, if any, as on the date of surrender, and will be payable immediately.
  • The policy shall terminate upon payment of the surrender/discontinuance value by the company.

Death Benefit

In case of unfortunate death before the maturity date, provided the policy is in-force, the death benefit payable to the nominee/ policyholder as a lump-sum is:

  • The higher of the sum assured or regular premium fund value PLUS
  • The higher of top-up premium sum assured or top-up premium fund value, if any;

All the above as on date of receipt of intimation of death The death benefit is subject to the guaranteed death benefit, which is 105% of the total premiums paid including top-up premiums paid, if any, till the date of death.

  • If death of the life assured occurs before attaining age 60 years, then, the sum assured shall be reduced to the extent of any partial withdrawals made from the regular premium fund during the two year period immediately preceding the date of death of the life assured.
  • If death of the life assured occurs on or after attaining age 60 years, then, the sum assured shall be reduced to the extent of the partial withdrawals made from the regular premium fund during the two year period before attaining age 60 and all the partial withdrawals made from the regular premium fund after attaining age 60.
  • The partial withdrawal made from the top up premium fund shall not be deducted for this purpose

Watch this video for some alarming facts about Life Insurance

Insurance awareness?

Life Insurance Claims Settled

Watch this video for some alarming facts about Life Insurance

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Understand Better
Sample Illustration

Harsh aged 35 years has taken a Bajaj Allianz Future Gain policy for a Policy Term (PT) of 24 years. Harsh has decided to pay Rs.50,000 as annual premium for a premium paying term of 20 years. The Sum Assured chosen by him is Rs.7,00,000. On maturity date, Harsh will receive Rs.25,37,558# (the regular premium fund value) on maturity

Sum assured on maturity

In case of Harsh's unfortunate death in, say, the 14th policy year, his nominee will receive Rs.11,03,116#
Sum assured on death
# The above illustrations are at 8% investment return and considering investment is in the "Asset Allocation Fund II" Please note that the 8% return is not guaranteed and is for illustration purpose only.

For more details, please refer to the brochure.

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Portfolio Strategies

Bajaj Allianz Future Gain provides the policy holder with two portfolio strategies, which can be chosen at the inception of the policy or on any subsequent policy anniversary

  • Investor Selectable Portfolio Strategy
  • Wheel of Life Portfolio Strategy

Investor Selectable Portfolio Strategy - If the policyholder want to allocate the premiums based on his/ her personal choice and decision, the policyholder can opt for this strategy and choose from among the seven (7) funds below to suit his/ her investment needs.

Wheel of Life Portfolio Strategy provides the policyholder with a "Years to maturity" based portfolio management. Under this strategy, on each policy anniversary, fund value among various funds (as per the below table) in the proportion based on the outstanding years to maturity are allocated/ reallocated.

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Charges under the Plan

Charges Details
Premium Allocation Charge
Annualized Premium/ Policy Year 1 2-5 6 and above
25,000 to 99,999 5.50% 3.75% 0%
100,000 to 199,999 2.50% 1.75% 0%
200,000 and above
0% 0% 0%
All Top ups have a premium allocation charge of 2%
Policy Administration Charge Rs.33.33 per month inflating at 5% per annum every month. The charge will be deducted at each monthly anniversary by cancellation of units at prevailing unit price
Fund Management Charge (FMC)
Fund Fund Management Charge per annum
Equity Growth Fund II 1.35%
Accelerator Mid Cap Fund II 1.35%
Pure Stock Fund 1.35%
Asset Allocation Fund II 1.25%
Bluechip Equity Fund 1.25%
Liquid Fund 0.95%
Bond Fund 0.95%
Discontinued Life Policy Fund
0.50%
This charge would be adjusted in the unit price
Miscellaneous Charge A miscellaneous charge of Rs. 100/- per transaction in respect of alteration of premium mode, alteration of premium apportionment, change in premium paying term or decrease in sum assured shall be charged.
Discontinuance Charge
Where the policy is discontinued during the policy year Discontinuance charge for the policies having annualized premium up to Rs. 25000/- Discontinuance charge for the policies having annualized premium above Rs. 25000/-
1 Lower of 20% * (AP or FV) subject to maxi - mum of Rs.3,000 Lower of 6% * (AP or FV) subject to maximum of Rs.6,000
2 Lower of 15% * (AP or FV) subject to maxi - mum of Rs.2,000 Lower of 4% * (AP or FV) subject to maximum of Rs. 5,000
3 Lower of 10% * (AP or FV) subject to maxi - mum of Rs.1,500 Lower of 3% * (AP or FV) subject to maximum of Rs. 4,000
4 Lower of 5% * (AP or FV) subject to maxi - mum of Rs.1,000 Lower of 2% * (AP or FV) subject to maximum of Rs.2,000
5 and above Nil Nil

AP - Annualized Premium & FV - Regular Premium Fund Value Discontinuance Charge for top ups is Nil.
Mortality Charge Mortality Charge will be deducted at each monthly anniversary by cancellation of units. Female life assured will be eligible for an age-set-back of 3 years. For sub-standard lives, including smokers, extra mortality charge will be applicable which will be deducted as charg - es by cancellation of units. Sample mortality charges per annum per thousand of sum at risk for a healthy male life is shown below:
Age (yrs) 20 30 40 50
Rs. 1.13 1.34 2.35 6.52

Sum at risk is equal to Maximum of [death benefit - regular premium fund value - top up premium fund value, zero]
Service Tax As applicable on all Charges mentioned above
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Frequently Asked Questions and Support

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Disclaimer: I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business.

Disclaimer

I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business.

Disclaimer: Insurance is the subject of the solicitation. For more details about risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. The terms and conditions of product/plan as contained in the Policy Document issued by the Company is available on the Web Site. Please note that the name of the Bajaj Allianz product/plan does not indicate the quality of the insurance contract and its future prospects or returns. Investment in ULIPs is subject to market risks associated with capital markets. IN ULIPs, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. Tax benefits are as per the prevailing Income Tax Laws including the Income Tax Act, 1961 and are subject to change from time to time. Service tax and education cess will have to be borne by the Policyholder as per applicable rates. All other charges shall be levied in accordance with the terms and conditions of the policy.
 
   
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