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.
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
- 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)
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.
Am I Eligible?
|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 Payment Term (PPT)||5 to 30 years|
|Premium Payment Frequency||Yearly, Half Yearly, Quarterly and Monthly|
|Minimum Sum Assured||
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
|Minimum & Maximum Sum Assured on Top up Premium||
Age calculated is age as at the last birthday
Policy Benefits and Features
What's in it for You?
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.
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.
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 ofthe 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
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
In case of Harsh's unfortunate death in, say, the 14th policy year, his nominee will receive Rs.11,03,116#
# 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.
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.
Charges under the Plan
|Premium Allocation Charge||
|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)||
|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.|
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 charges by cancellation of units. Sample mortality charges per annum per thousand of sum at risk for a healthy male life is shown below:
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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