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Bajaj Life Magnum Fortune Plus Plan
Bajaj Life Magnum Fortune Plus Plan is a non-participating unit-linked life insurance plan (ULIP) that aims to provide life cover and wealth creation. The plan provides flexible terms of policy and has a variety of funds to invest in, including equity and debt, as well as speciality funds. It also has loyalty additions and maturity boosters, among other features that contribute to long-term investments.
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Bajaj Life ULIP Plans
- Bajaj Life Magnum Fortune Plus Plan
List of ULIP Funds ~
Fund Name
AUM
NAV
Returns (in %)
3 Year
5 Year
10 Year
Midcap Fund
SBI Life
AUM:57,040 Cr
57,040 Cr
NAV
50.43
-50.43%
Returns
19.16%
Highest Returns
Opportunities Fund
HDFC Life
AUM:35,377 Cr
35,377 Cr
NAV
79.15
0.52%
Returns
15.53%
Highest Returns
High Growth Pension Fund
Axis Max Life
AUM:4 Cr
4 Cr
NAV
10.38
0.01%
Returns
22.85%
Highest Returns
US Technology Advantage Fund
ICICI Prudential Life
AUM:0 Cr
0 Cr
NAV
0.00%
Returns
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Multi Cap Fund
Tata AIA Life
AUM:10,579 Cr
10,579 Cr
NAV
66.28
-66.28%
Returns
16.42%
see more plans
Disclaimer :
˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
Eligibility Criteria for the Bajaj Life Magnum Fortune Plus Plan
Below is an overview of the eligibility criteria for the Bajaj Life ULIP Plan:
Criteria |
Minimum | Maximum |
| Entry Age | 0 years | 65 years |
| Maturity Age | 18 years | 75 years |
| Policy Term | 10 years | 30 years |
| Premium Payment Term | 5 years | 25 years |
| Sum Assured | 7 Times Of Annualised Premium | As Per the Age-Based Multiplier |
| Premium Payment Frequency | Yearly | Monthly / Quarterly / Half-Yearly |
Features of the Bajaj Life Magnum Fortune Plus Plan
To understand the plan better, let's explore the key features offered by this Bajaj Life Magnum Fortune Plus Plan:
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Life Insurance Coverage
The policy offers life insurance coverage for the entire policy term, which helps secure the family's financial future.
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Multiple Fund And Portfolio Options
A wide variety of funds and portfolio strategies exists to meet the financial objectives and risk aversion of policyholders.
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Loyalty Additions
Loyalty accrues at the end of the 10th policy year and continues until maturity, adding value to the fund in the long run.
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Maturity Boosters
The policy fund can also have a maturity booster at the end of the policy term to reward long-term investors.
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Return Of Mortality Charges
If the policy matures, the deducted life coverage mortality charges can be refunded and deposited into the fund value.
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Premium Bands
The plan has several premium bands, so policyholders can choose the level of investment that suits their financial situation.
The features make Bajaj Life Magnum Fortune Plus a competitive product among the best investment plans that combine investment growth and insurance cover.
Benefits of Bajaj Life Magnum Fortune Plus Plan
The following are the main advantages of the Bajaj Life Magnum Fortune Plus Plan:
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Maturity Benefit
If the policyholder survives the policy term, the accumulated fund, with or without the top-up premium fund, will be paid at maturity.
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Death Benefit
On the occurrence of the unfortunate death of the life assured during the policy term, the nominee shall get the highest of the following:
- Sum Assured (with or without top-up sum assured)
- Fund Value (Fund Value, including top-up premium fund value)
- Minimum guaranteed death benefit.
- Minimum death benefit will be 105% of total premiums, including top-up premiums.
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Loyalty Additions
Additions to Loyalty are accredited after the 10th policy year. The policy fund is funded by additional units each year, and the investment value is accumulated.
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Maturity Booster
A maturity booster can be added towards the end of the policy term to the value of the fund according to the selected policy term.
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Family Benefit
If any family member is a Bajaj Life Insurance policyholder, there will be an opportunity to earn an extra benefit at maturity, which will be added to the policy fund.
Latest ULIP NAVs
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Riders Under the Bajaj Life Magnum Fortune Plus Plan
The following are some of the riders that can be added to the Bajaj Life Magnum Fortune Plus Plan:
- Accidental Death Benefit Rider
- Critical Illness Rider
- Waiver Of Premium Rider
Policy Details of Bajaj Life Magnum Fortune Plus Plan
The following are some of the policy details of Bajaj Life Magnum Fortune Plus Plan:
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Life Insurance Cover
The scheme offers life insurance cover during the policy term to help protect the family of the policyholder's finances.
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Multiple Fund Options
The policyholders have a choice on the type of investment funds they wish to invest in, whether in equity, debt, or speciality funds, depending on their financial objectives and their risk-taking.
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Loyalty Additions
Loyalty additions will accrue between the 10th policy year and the maturity date and will be added to the total fund value.
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Maturity Boosters
The policy fund can also have a maturity booster that is given to investors holding the policy at the end of the policy term.
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Return of Mortality Charges
If the policy matures, the life cover mortality fees paid will have to be repaid and reinvested in the fund.
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Premium Bands
The plan provides various premium bands, which give policyholders a chance to choose an investment level depending on their financial capability.
Exclusions Under the Bajaj Life Magnum Fortune Plus Plan
Here are some of the common exclusions under the Bajaj Life Magnum Fortune Plus Plan:
Suicidal Cover
In case the policyholder commits suicide within 12 months of starting or reviving the policy, the insurer can reduce the benefit to be paid as provided by the policy.
FAQs
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Is it possible to have top-up premiums in the Bajaj Life Magnum Fortune Plus Plan?
Yes, there is the option for policyholders to put more money using top-up premiums, but this will be subject to the insurer's terms and conditions. This enables investors to have the opportunity to raise the investment value within the policy. -
What is the value of the fund in this plan?
Depending on the number of units assigned to the policy and the Net Asset Value (NAV) of the decided investment funds, the fund value will be determined. -
Is it possible to increase the policy term once the plan has been bought?
Yes, the plan can enable policyholders to extend the term of the policy during the coverage of the policy as long as the insurer agrees and acts to the terms of the policy. -
Can the premium value be lowered throughout the policy period?
Yes, according to the policy rules, policyholders can choose to pay the current premium lower than it is after the expiry of the first policy period.
Insurers Offering ULIPs
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^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.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ