Bajaj Allianz Fortune Gain Plan

Bajaj Allianz Fortune Gain is a unit linked insurance plan providing the twin benefits of life insurance coverage and wealth creation through market linked returns.

Best Investment Plans
  • Guaranteed Tax Savings

    Under sec 80C & 10(10D)
  • ₹ 1 Crore

    Invest 10k Per Month*
  • Zero LTCG Tax

    Unlike 10% in Mutual Funds

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

*Please note that the quotes shown will be from our partners
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Bajaj Allianz Fortune Gain - Key Features

  • Single Pay option of premium payment
  • Loyalty Additions at the policy term end

Below are the 7 funds are available for investment

  • Accelerator Mid-cap Fund II
  • Asset Allocator Fund II
  • Equity Growth Fund II
  • Pure Stock Fund
  • Blue Chip Equity Fund
  • Bond Fund
  • Liquid Fund 

Bajaj Allianz Fortune Gain - Benefits

  • Loyalty Additions: On maturity, 3% of the Single Premium of Rs 1, 00, 000 is added for a term of 10-30 years.
  • Maturity Benefits: Single Premium Fund Value + Top-Up Fund Value; the maturity value can be earned by installments through settlement option over a period of 5 years
  • Death Benefits: In case of death of the insured, higher of; Sum Assured + (Top-Up Sum Assured - Partial Withdrawals) made 2 years prior to death Or, Fund Value + Top-Up Fund Value
  • Tax Benefits: All premiums paid and claims received are eligible for tax benefits Under Section 80C and 10(10D) of Income Tax Act. 

Bajaj Allianz Fortune Gain - Product Specification:

Product Name

Entry Age

Maturity Age

Policy Term

Premium Payment Term

Sum Assured

Bajaj Allianz Fortune Gain

1/63 years

18/70 years

7/30 years

Single Premium Payment Term

Entry Age < 45

1.25 x Single Premium

Entry Age >= 45

1.10 x Single Premium

Bajaj Allianz Fortune Gain - Policy Details

Grace Period: If the insured fails to pay his premium within the premium due date then he is allowed a grace period of 15 days for monthly premium payment mode and 30 days grace period in case of annual premium payment mode, failure to which the policy shall lapse. 

Policy termination or Surrender Benefit: On completion of 5 years the plan enables a surrender value with its plan. If the insured surrenders his plan before completing 5 years with his plan then his Net Fund Value after deducting  discontinuation charges shall be credited to his linked discontinued policy fund with a yearly 4% growth. If the insured surrenders his plan after completing 5 years, then the complete fund value as on the surrender date is paid to the insured with no additional charges applicable. 

Free Look Period: In case the insured is not satisfied with his plan benefits or terms and conditions, then he has the option to cancel his plan within 15 days of plan inception, given that no claims have been done yet. 

Inclusions

  • Partial Withdrawals: Every year after completing 5 plan years, partial withdrawals are allowed with a minimum value of Rs.5, 000.
  • Free Switches: Every year unlimited free switches are allowed to switch between funds
  • Premium Redirections: Every year redirecting future premiums is allowed into another fund
  • Top-up premiums: To increase the fund value top up premiums can be paid to increase the fund value with a minimum of Rs.5000 

Additional Features or Riders

Below are the rider covers as additional top-up covers insured can enjoy with the base plan:

  • Accidental Death Rider
  • Accidental Permanent Total/ Partial Disability Rider
  • Critical Illness Rider
  • Waiver of Premium Rider
  • Family Income Benefit Rider 

Decreasing cover: The sum assured can be decreased subject to certain terms and conditions

Systematic Switching Option: This option is available in the initial 12 months of the plan where the premiums are invested in the Liquid Fund and then a part of the fund is transferred to other funds monthly.

Exclusions

Suicide: If the insured commits suicide within first 12 months of plan inception or renewal then the settlements are done by paying the fund value as on the date of death.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Documents Required

Below are the documents which are required to be insured under Bajaj Allianz Fortune Gain Plan:

  • Duly filled Proposal form/Application form
  • Address Proof
  • Age Proof
  • Other KYC documents; PAN Card, Adhaar Card, Tax Details etc
  • Medical History 

**Documents required are a subject to the plan options and the sum assured chosen.

You may also like to read: Bajaj Allianz ULIP Plans

FAQ's

  • Q.  What is the decreased sum assured under the plan?

    A. Under the decreased sum assured option, the insured has the choice to reduce the single premium sum assured in his first plan year. This change in sum assured can be done on any of the premium due date, this change is subject to the minimum sum assured allowed.
    **Any change in the sum assured has miscellaneous charges applicable under it.
  • Q.  What is the investor selectable portfolio strategy?

    A. The insured gets the flexibility to invest his premiums into his choice of funds in proportional units as per requirements. The redirection of premiums into any fund should be atleast 5%. 
  • Q. What are the death benefits provided in details?

    A. In the case of death of the insured before the date of the maturity, then the benefits of death that are payable to the nominees in a lump sum amount are as follows:
    Higher of,
    Sum Assured / Single Premium
    Or,
    Higher of,
    Top Up Sum Assured / Top Up Premium Fund Value
    • If the insured dies before his age of 60 years, the assured sum amount will be reduced by the partial withdrawals made from the single premium amount within 2 years before the date of death.
    • If the insured dies after his of 60 years, the assured sum amount will be reduced by the partial withdrawals made from the single premium fund within 2 years before turning 60 years and partial withdrawals made after turning 60.
    • The partial withdrawals done from the top up premiums shall not be deducted. 
    **The guaranteed death benefits which are applicable throughout the policy term is 105% of the total premiums paid till date including top up premiums paid till date. 
  • Q. What are the conditions for loyalty additions under the plan?

    A. The insured gets to avail loyalty benefits under the plan, which is calculated at a percentage of single premium which shall be added to the single premium fund value on the date of maturity.
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