Bajaj Allianz Future Gain is a Unit Linked Insurance plan that aims to maximize wealth by investing into capital market and providing life insurance coverage
Guaranteed Tax Savings
Under sec 80C & 10(10D)₹1 Crore
Invest ₹10k Per Month*Zero LTCG Tax
Unlike 10% in Mutual FundsTop performing plans with High Returns*
Invest ₹10K/month & Get ₹1 Crore returns*
Invest For (in Years)
Stay invested for (in Years)
Expected rate of return (in %)
**The maximum investment in mutual funds shall be governed by the relevant IRDAI guidelines.
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Sum Assured + (Top-Up Sum Assured - Partial Withdrawals)
Or, the Fund Value including the top-up Fund Value
 |
Minimum |
Maximum |
Entry Age (Last Birthday) |
1 year |
 60 years |
Maturity Age (Last Birthday) |
18 years |
70 years |
Policy Term (PT) in years |
10 |
30 |
Premium Paying Term (PPT) in years |
5 |
30 |
Premium paying Frequency |
Annual, half-yearly, quarterly, monthly |
|
Yearly Premium |
25,000 |
12 lakhs |
Sum Assured |
Higher of 10*annual premium or 0.5*term*annual premium for ages<45 yrs. and higher of 7*annual premium or 0.25*term*annual premium for ages>=45 yrs. |
15*annual premium |
Annual Premium in Rupees and Benefit Illustration for a term of 24 years
Age |
35 years |
Premium |
50,000 |
Sum Assured |
700,000 |
PPT |
20 years |
Fund Value @ 8% |
25,37,558 |
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Insured can enjoy the below rider cover additional top up covers with the base plan:
Suicide: If the insured dies by committing suicide within 12 months of plan inception or renewal then the nominees are settled by paying the fund value as on the date of death.
Below are the documents which are required to be insured under Bajaj Allianz Future Gain Plan:
**Documents required are a subject to the plan options and the sum assured chosen.
You may also like to read: Bajaj Allanz ULIP Plans |
Bajaj Allianz Future Gain is a Unit Linked Endowment Insurance Plan (ULIP) that aims to maximize wealth by investing in the capital market and providing life insurance coverage.
Invest For (in Years)
Stay invested for (in Years)
Expected rate of return (in %)
It is a ULIP plan with Regular and Limited Pay premium payment options.
Portfolio Strategies: Â Investor Selectable Portfolio strategy and Wheel of Life Strategy.
Selectable Portfolio Strategy: If the investor wants to allocate his premiums as per his personal choice, he can opt for this strategy to choose among the ten funds to meet his requirements.
Wheel of Life Portfolio Strategy: All the premiums allocated are invested into 5 funds, which are Equity Growth Fund II, Bond Fund, Liquid Fund, Accelerator Mid-Cap Fund II, and BlueChip Equity Fund, in a predefined ratio. This ratio changes with the age of the policy term and towards maturity; largely, the funds are directed to the Bond Fund and the Liquid Fund to protect the returns against market volatility.
Investment Portfolio Strategy: Under the Investment Portfolio Strategy, the insured can allocate his premiums as per his choice and requirements and can choose to invest amongst the 10 funds:
Equity Growth Fund II
Bond Fund
Liquid Fund
Accelerator Mid-Cap Fund II
Asset Allocation Fund II
BlueChip Equity Fund
Pure Stock Fund
Pure Stock Fund II
Flexi Cap Fund
Sustainable Equity Fund
**The maximum investment in mutual funds shall be governed by the relevant IRDAI guidelines.
Maturity Benefits: On maturity, the insured shall get the Regular Premium Fund Value, including the Top-up Premium Fund Value. The insured can choose to avail themselves of the maturity value in installments payable monthly, quarterly, half-yearly, or yearly spread over a period of 5 years through the Settlement Option.
Death Benefits: On the death of the insured, his beneficiaries shall get the higher of the following sums:
Sum Assured + (Top-Up Sum Assured - Partial Withdrawals during 2 years immediately before the date of death of the Life Assured)
Or the Fund Value, including the top-up Fund Value.
Guaranteed Death Benefit shall be 105% of all premiums paid up to the date of death.
Tax Benefits: All premiums paid and claims received are eligible for tax deductions under Section 80C and 10(10D) of the Income Tax Act.
Maximum Premium Allocation is done in the investment portfolio after the deduction of low Premium Allocation Charges.
Unlimited Free Switches among the investment portfolio are offered to the investors, maximizing their benefits as per their risk appetite.
Minimum | Maximum | |
Entry Age (Last Birthday) | 1 year | 60 years |
Maturity Age (Last Birthday) | 18 years | 70 years |
Policy Term (PT) | 10 years (for all PPTs) |
|
Premium Paying Term (PPT) | 5 years | 30 years |
Premium paying Frequency | Annual, half-yearly, quarterly, and monthly | |
Yearly Premium | ₹25,000 | ₹12 lakhs |
Sum Assured | Higher of 10*annual premium or 0.5*term*annual premium for ages<45 yrs. And higher of 7*annual premium or 0.25*term*annual premium for ages>=45 yrs. | 15*annual premium for all policy terms |
Maturity Benefit Illustration for a Policy Term of 24 Years
Age | 35 years |
Annual Premium | ₹50,000 |
Sum Assured | ₹7,00,000 |
PPT | 20 years |
Fund Value @ 8% | ₹24,98,392 |
Grace Period: If the insured fails to pay his insurance premium by the due date, then a grace period of 15 days is allowed for monthly premium payment mode, and a grace period of 30 days is allowed for annual premium payment mode. However, if the insured fails to pay even within the grace period, his policy shall lapse thereafter.
Policy Termination or Surrender Benefit: The plan enables a surrender value after five years. If the insured surrenders their plan after completing 5 years with it, they pay the entire Fund Value without any additional charges. And, if the insured surrenders his plan before completing 5 years with his plan, then the Fund Value, after making applicable deductions of discontinuation charges, is credited to the Linked Discontinued Policy Fund. The Fund Value shall see an annual growth of 4% per annum, which will be paid to the insured after completing 5 years with the plan without any other charges.
Free Look Period: In case the insured is not pleased with his plan or the benefits and features provided with the plan, he is free to return his plan within 15 days of receiving the policy documents, required that no claims have been filed yet.
Partial withdrawals: After completing 5 plan years, the policyholder can make partial withdrawals against his units with a minimum value of Rs. 5,000.
Free Switches: Every year, switching between funds is allowed for free in the Investor Selectable Portfolio strategy.
Switchable Portfolio Strategies
Top-up premiums of up to Rs. 5,000 can be paid at any time to increase the fund's value.
The corresponding top-up sum assured is 1.25 times the top-up premium for an entry age of <45 years or 1.10 times for an entry age of >= 45 years.
Insured can enjoy the below rider coverage and additional top-up coverage with the base plan:
Accidental Death Rider
Accidental Permanent Total/ Partial Disability Rider
Critical Illness Rider
Waiver of Premium Rider
Family Income Benefit Rider
Suicide: If the insured dies by committing suicide within 12 months of plan inception or revival, then the nominees are settled by paying the Fund Value as of the date of intimation of death.
Below are the documents that are required to be insured under the Bajaj Allianz Future Gain Plan:
Duly filled Application form/Proposal form
ID Proof
Address Proof
Age Proof
Other KYC documents: PAN card, Aadhaar card, Tax filing details, etc.
Recent Photograph
Medical HistoryÂ
**Documents required are subject to the plan options, and the sum assured chosen.
**Miscellaneous charges shall be applicable as required.
*All savings are provided by the insurer as per the IRDAI approved insurance
plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
^Tax benefit are for Investments made up to Rs.2.5 L/ yr.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
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