Bajaj Allianz Life Future Gain II

Bajaj Allianz Life Future Gain II is a Unit-Linked Endowment Plan that combines life insurance coverage with an investment component. It allows you to choose from different investment strategies and offers flexibility in premium payments and benefit payouts. This plan is designed to help you achieve your long-term financial goals.

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What is Bajaj Allianz Life Future Gain II?

Bajaj Allianz Life Future Gain II is a Unit-Linked Endowment Plan designed to help you achieve your long-term financial goals. It combines life insurance protection with investment potential. The plan offers a life cover throughout the policy term, which provides financial security for your loved ones in case of your unfortunate demise. It also allows you to allocate a maximum portion of your premiums towards investment funds. This means more of your money is directly invested and working towards your future goals, like retirement or your child's education.

Features of Bajaj Allianz Life Future Gain II Plan

Here are the key features of Bajaj Allianz Life Future Gain II Plan:

  • Maximum Premium Allocation: The plan offers maximum premium allocation, ensuring that a significant portion of your premium goes directly into the investment portfolio. This minimizes the impact of premium allocation charges, allowing your money to work harder for you.

  • Two Investment Strategies: You have the flexibility to choose between two unique portfolio strategies:

  • Investor Selectable Portfolio: This option allows you to select from 14 different funds based on your risk appetite and financial goals.

  • Wheel of Life Portfolio: This strategy offers a "Years to Maturity" based portfolio management approach, providing a more structured investment journey.

  • Option of 14 Funds: With a wide range of 14 fund options available under the Investor Selectable Portfolio Strategy, you have the freedom to tailor your investment portfolio according to your preferences and investment objectives.

  • Partial Withdrawal of Funds: After the fifth policy year, you can make partial withdrawals from your investment, subject to the terms and conditions of the policy. This feature offers liquidity and flexibility, allowing you to access funds when needed.

  • Alter Premium Payment Frequency: The plan allows you to change your premium payment frequency at any time. Whether you prefer yearly, half-yearly, quarterly, or monthly payments, you can adjust the frequency to suit your financial situation and convenience.

  • Death/Maturity Benefits in Instalments: You have the option to receive Death or Maturity Benefits in instalments spread over a maximum period of 5 years. This payment approach provides a steady stream of income, offering financial stability to you or your beneficiaries.

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Eligibility Criteria of Bajaj Allianz Life Future Gain II Plan

Parameters  Minimum  Maximum 
Entry Age  1 year
(for minors, the risk cover starts when the policy begins and ends when they reach adulthood (age 18)).
60 years 
Maturity Age  18 years  70 years 
Policy Term  10 years
Premium Paying Term (in Years) Policy term (in Years)
5 or 6 10, 15 to 20
Other PPTs 10, 15 to 30
Minimum Premium 
Frequency Premium (₹)
Yearly 25,000
Half-Yearly 13,500
Quarterly 7,000
Monthly* 2,500
Top-up 5,000
Maximum Premium 
Frequency Premium (₹)
Yearly 12,00,000
Half-Yearly 6,00,000
Quarterly 3,00,000
Monthly 1,00,000
Premium Payment Term  5 to 30 years
Premium Payment Frequency Yearly, Half Yearly, Quarterly and Monthly
Minimum Sum Assured
Age Higher of 
Less than 45 years 7 times Annualized Premium
Greater than or equal to 45 years 7 times Annualized Premium
Maximum Sum Assured
Policy Term / Age at Entry 1-35 36-40 41-44 45-50 51 & above
10 & 15 15 15 10 10 7
16-20 15 15 10 7 7
21-25 15 12.5 10 7 NA
26-30 15 12.5 10 NA NA
Maximum & Minimum Sum Assured on Top-up Premium
Top Up Sum Assured Multiplier
1.25 times

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Benefits of Bajaj Allianz Life Future Gain II Plan

Below are the benefits of the plan:

  1. Maturity Benefit:

    • Upon reaching the policy's maturity date, you'll receive the total accumulated value of your investments. This is calculated as the sum of the Regular Premium Fund Value and Top-up Premium Fund Value.

  2. Death Benefit:

    • In case of an unfortunate event before the maturity date, your nominee or beneficiary will receive a lump sum death benefit. This benefit is the higher of:

      • The prevailing Sum Assured amount OR the Regular Premium Fund Value, PLUS

      • The Top-up Premium Sum Assured OR the Top-up Premium Fund Value (if applicable)

    • This benefit is guaranteed to be at least 105% of the total premiums you've paid until the date of death.

  3. Family Benefit (if applicable):

    • If a close family member is already a policyholder with Bajaj Allianz, you may be eligible for a family benefit.

    • This benefit is added to your Regular Premium Fund Value at maturity and is calculated as a percentage of your average daily Regular Premium Fund Value over the past three years.

    • Eligible family members include spouses, children, parents, siblings, grandchildren, and parents-in-law. This benefit applies even if the family member's policy has matured.

    • It's important to note that the family benefit doesn't apply to top-up premiums.

  4. Surrender Benefit:

    • You have the option to surrender your policy at any time. However, there are implications depending on the surrender timeframe:

      • During the first five years (lock-in period): The policy will be discontinued, and your life cover will cease. You'll receive the Regular Premium Fund Value minus a surrender charge, along with any Top-up Premium Fund Value (if applicable). This amount becomes available after the lock-in period ends.

      • After the first five years: You'll receive the full Surrender Benefit, which is the sum of the Regular Premium Fund Value and any Top-up Premium Fund Value (if applicable).

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Riders Under Bajaj Allianz Life Future Gain II Plan

Here are some of the riders available with Bajaj Allianz Life Future Gain II:

  • Bajaj Allianz ULIP Accidental Death Benefit Rider

  • Bajaj Allianz ULIP Accidental Permanent Total Partial Disability Benefit Rider

  • Bajaj Allianz ULIP Critical Illness Benefit Rider

  • Bajaj Allianz ULIP Family Income Benefit Rider

  • Bajaj Allianz ULIP Waiver of Premium Benefit Rider

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Policy Details of Bajaj Allianz Life Future Gain II Plan

  • Discontinuance:

    • During the First Five Policy Years: If premiums are not paid, the policy becomes a Discontinued Life Policy without risk cover. You can revive it within three years or opt for surrender.

    • After Five Policy Years: The policy converts to a Paid-up Policy with reduced benefits if premiums are discontinued.

  • Revival of Discontinued Policy: You can revive a discontinued policy within three years by paying unpaid premiums and a revival charge.

  • Foreclosure: If the fund value is insufficient after five years of premiums, the policy may be foreclosed after notice.

  • Termination: The policy terminates if premiums are not paid on death, maturity, Surrender Benefit payment, foreclosure, or free look cancellation.

  • Grace Period: A 15-30 day grace period is provided for premium payment without late fees.

  • Free Look Period: You have 15-30 days to review the policy. If dissatisfied, you can return it for a refund, with deductions for risk coverage and expenses.

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Exclusions Under Bajaj Allianz Life Future Gain II Plan

If the Life Assured passes away by suicide within 12 months from the Policy's start or revival date (whichever comes later), the Nominee or beneficiary will receive the Fund Value at the time of death notification. Any charges, except for FMC or Guarantee Charge, collected after the death date will be included in the Fund Value at the time of death notification.

FAQs

  • What documents do you need before investing in Bajaj Allianz Life Future Gain II?

    • ID Proof 

    • Age Proof 

    • Address Proof 

    • Recent Photograph

  • How many partial withdrawals can be made in a year, and what are the limits for the minimum and maximum withdrawal amounts?

    You can make partial withdrawals starting from the end of the fifth policy year. A maximum of two partial withdrawals is permitted in a single policy year, with a minimum gap of three months required between each withdrawal. Additionally, the total amount withdrawn over the policy term must not exceed 50% of the total premiums paid, including any top-up premiums.

    The minimum amount allowed for a partial withdrawal is ₹ 5,000, while the maximum amount that can be withdrawn at any one time is capped at 10% of the total premium paid, including top-up premium, as of the withdrawal request date.

  • What are the fund options under the Bajaj Allianz Life Future Gain II plan?

    There are 15 fund options available; they are as follows:
    • Equity Growth Fund II

    • Accelerator Mid-Cap Fund II

    • Pure Stock Fund

    • Asset Allocation Fund II

    • Bluechip Equity Fund

    • Bond Fund

    • Liquid Fund

    • Pure Stock Fund II

    • Flexi Cap Fund

    • Sustainable Equity Fund

    • Small Cap Fund

    • Dynamic Asset Allocation Fund

    • Individual Short-Term Debt Fund

    • Midcap Index Fund

    • Smallcap Quality Index Fund

*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
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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Bajaj Allianz Life Future Gain II Reviews & Ratings

4.5 / 5 (Based on 4 Reviews)
(Showing Newest 4 reviews)
Umakant
Panagarh, August 16, 2016
Ulip Insurance Plan
After a long while, got the insurance policy which i needed. The ulip insurance plan from bajaj life insurance. The policy coverage is high and claims are easy to sanctioned. Service provided by you is superb, the updates of the policy is regularly mailed to me at my email address.
Nakul
Nainital, July 15, 2016
Good
I have ulip plan from bajaj allainz life insurance company limited. The policy is great and it works for me and give me full satisfaction. Policy coverage and claims are good. Claiming is very easy because the service of the staff of the company is awesome.
Ankit
Delhi, February 06, 2016
"Average"
I have life insurance with bajaj. The policy i have is an average one. Low premiums but the paybacks are also less. The policy coverage and claims are ~60-70%. The services provided is slow. Kaam chalau...
Plan Name: Future Gain
Agent Code: BPW01312
Hari
Lucknow, December 20, 2015
First time invested on bajaj allianz ulip plans
I really liked the concept of ulip plans and invested my saving on this. Really appreciated the valuable informations on Policybazaar.and the very cool customer care process. I also find bajaj allianz ulip nav and therefore i have invested on this. Lets hope for the best. If it works i will invest more, this is my first time, But would recommend to all. All the best!
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