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Bajaj Allianz Fortune Gain Watch Video A Unit-linked Non-participating Life Insurance Plan

  • Up to 99.5% fund allocation#

  • Choice of seven funds with unlimited free switches
  • Loyalty additions
  • Systematic switching option
Fortune gain ulip investment plan
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Download Policy Document 9 pages - 499 KB
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Single Premium ULIP Investment Plan - Bajaj Allianz Fortune Gain

Every year, salaried individuals face the dilemma of how to best utilise the bonus they receive from their company. Newly married couples seek options to benefit from the monetary ‘gifts’ received during their marriage. Or, you catch yourself wondering about the best way to enter equity markets with the additional investable funds you may have.  In such cases an individual looks at a one-time investing option.   

Bajaj Allianz Fortune Gain is a ULIP that is designed to help make most of this ‘one-time’ lump-sum amount you may have with you. This single premium product helps you enter and stay invested in market linked funds for the long-term, comes with low allocation charges ensuring that up to 99.5% of premium is allocated towards investment and offers a life cover. In addition, you enjoy loyalty additions, the flexibility of choosing the funds you want to invest in, and making partial withdrawals, thereby enabling you to plan your life goal peacefully.

Maximum allocation

The allocation charges are as low as 0.5% for premium of ` 10 lakh and above.

Multiple fund options

The policy allows you to choose among seven funds depending upon your financial goals and risk profile. You can also avail unlimited free switches to better manage your investments.

Loyalty additions

The policy rewards 3% of the single premium as loyalty additions, for premium of ` 1 Lakh & above & policy term of 10 years & above, enhancing the maturity amount you receive.

Systematic switching option

This option provides you with a winning approach in volatile market situation to optimize returns. At the start of the policy, you can opt for systematic switching, whereby your premium is invested in a liquid fund and a proportion of that amount is invested in a fund of your choice on each monthly due date over a period of next 12 months.

Option to take maturity benefit in instalments

The maturity benefit can be received in monthly, quarterly, half-yearly or annual instalments over a maximum period of five years under Settlement option.

Entry Age

Minimum age is 01 year

Maximum age is 63 years

Maturity Age

Minimum age at maturity 18 years

Maximum age at maturity 70 years

Policy Term

Minimum is 7 years

Maximum is 30 years

Single Premium

Minimum is ` 50,000

Maximum is No Limit

Premium Payment Frequency

Single

Minimum Sum Assured

1.25 times single premium if Age at Entry < 45 yrs

1.1 times single premium if Age at Entry >= 45 yrs

Maximum Sum Assured

X * single premium, where X is based on age at entry and Policy term as mentioned below

Policy Term

Age at entry

1-20

21-30

31-35

36-44

45 & above

7 - 10

10

10

10

5

1.5

11 - 15

10

10

8

3

1.5

16 - 20

10

8

5

3

1.5

21 - 25

10

6

4

2

1.5

26 - 30

10

5

3

2

NA

Minimum & Maximum Sum Assured on Top up Premium

Age

Top Up Sum Assured Multiplier

Less than 45 years

1.25 times top-up premium

Greater than or equal to 45 years

1.1 times top-up premium

Age calculated is age at the last birthday

How do ULIPs work?

Unit linked Insurance plans are packed with the dual powers of Investment and Insurance.
Your ULIP's premium is split between generating returns and providing protection.

Other charges applicable are mortality charges, fund management charges and policy admin charges

In Bajaj Allianz Fortune Gain, the premium paid by you, after applying the applicable premium allocation rate, is invested in Investor Selectable Portfolio Strategy. 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.

Yuvraj , 35 years old

Yuvraj has taken a Bajaj Allianz Fortune Gain policy for a Policy Term (PT) of 24 years. Yuvraj has decided to pay ₹ 2,00,000 as single premium. The Sum Assured chosen by him is ₹ 8,00,000. 

  • Maturity Benefit
  • Death Benefit

On maturity date, Yuvraj's maturity benefit, based on the assumed investment return are as given below:

Policy Term: 24 Years

  • Fortune Gain

Assumed Investment Return##

Maturity Benefit

@8%

₹ 7,57,661

@4%

₹ 2,37,061

##The returns indicated at 4% and 8% are illustrative and not guaranteed and do not indicate the upper or lower limits of returns under the policy.

The benefit amounts indicated are non-guaranteed illustrative figures, and subject to policy terms and conditions.

This illustration is considering investment in "Asset Allocation Fund II" & applicable Goods & Service Tax.

 

In case of Yuvraj's unfortunate death in the 16th policy year, the death benefit, based on the assumed investment return, are as given below:

Policy Term: 24 Years

  • Fortune Gain

Assumed Investment Return##

Death Benefit in the 16th year

@8%

₹ 8,00,000

@4%

₹ 8,00,000

##The returns indicated at 4% and 8% are illustrative and not guaranteed and do not indicate the upper or lower limits of returns under the policy.

The benefit amounts indicated are non-guaranteed illustrative figures, and subject to policy terms and conditions.

This illustration is considering investment in "Asset Allocation Fund II" & applicable Goods & Service Tax.

Maturity Benefit

Under Bajaj Allianz Fortune Gain, the maturity benefit will be the single premium fund value plus top up premium fund value, if any, both as on the maturity date, provided the policy is in-force.

Death Benefit

In case of unfortunate death before the maturity date, provided the policy is in-force, the death benefit payable to the nominee as a lump-sum (subject to the Guaranteed Death Benefit*) is:

(i) The higher of the sum assured or single premium fund value PLUS

(ii) 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].

  • 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 single premium fund during the two year period immediately preceding the 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 of any partial withdrawals made from the single premium fund during the two year period before attaining age 60 and all the partial withdrawals made from the single premium fund after attaining age 60.

  • The partial withdrawal made from the top up premium fund shall not be deducted for this purpose.

* The guaranteed death benefit applicable throughout the policy term is 105% of the total premiums paid including top-up premiums paid, if any, till the date of death.

Loyalty Additions

Your policy will be entitled for loyalty additions as per the below table. The addition, expressed as a percentage of the single premium, will be added to the single premium fund value at the maturity date of your policy.

Policy Term

Single Premium

` 50,000 to ` 99,999

` 100,000 & above

7 to 10

Nil

Nil

10 to 30

Nil

3%

No loyalty addition is payable on any top-up premium paid.

Surrender Benefit

You have the option to surrender your  your policy at anytime.

  • On surrender during the lock-in period of first five years, the single 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, the surrender value payable will be single premium fund value plus top up premium fund value, if any, as on the date of surrender.

  • The policy shall thereafter terminate upon payment of the full surrender value by the company.

Claw-back Additions

Non negative additions, if any, will be added to the single premium fund value in order to meet the maximum reduction in yield criteria [as stipulated in Sub-regulation 37 of IRDA (Linked Insurance Products) Regulations, 2013] at the end of each policy year starting from the fifth policy year. 

Documents you’ll need before investing

Monthly Investment Planning With ULIPs From Bajaj Allianz Life

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What are the funds available under Investor Selectable Portfolio strategies?

You have the option to choose from seven funds including Equity Growth fund II, Accelerator Mid-Cap Fund II, Pure Stock Fund, Asset Allocation Fund II, Blue Chip Equity Fund, Bond Fund and Liquid Fund. You can choose the funds depending on your risk appetite and life goal. 

What are the allocation charges in Fortune Gain?

Fortune Gain has one of the lowest allocation charges, ensuring that maximum amount from your corpus is invested, thus maximizing the return on your investment. For premium between ` 50,000 to ` 99,999 the allocation charges are 3%; for premium between ` 99,000 to ` 4,99,999 the charges are 2.5%; for premium between ` 4,99,999 to ` 9,99,999 the allocation charges are 2% and for premium of ` 10,00,000 and more it is just 0.5%. 

What is the advantage of going for Systematic Switching Option (SSO)?

Systematic Switching Option can be opted at the time of purchasing the policy and is applicable for the first year or 12 months from the date of commencement of the plan. SSO allows you to optimize returns in a volatile market. In this option, the allocated single premium and top-up premium, if any, at the inception of your policy is allocated to Liquid Fund. 1/xth of your fund value in the Liquid Fund is transferred from the Liquid Fund to the fund(s) of your choice at the start of each monthly anniversary, without any additional charge, where x is the number of months remaining till the next policy anniversary date. Since Liquid Funds invest in relatively safer financial instruments including bank fixed deposits, treasury bills, and other debt securities, it helps in tiding over market volatility 

Life Insurance Glossary

Discontinuance Charges

These charges are deducted from the policyholder's account/fund if the life insurance policy is surrendered by the policyholder. This is also called as the Surrender Charge

Fund Value

It is the total value of units that a policyholder holds in funds. Fund Value = Number of Units x Net Asset Value

Fund Management Charges

These are charges deducted towards meeting expenses related to fund management. These are charged as a percentage of the Fund Value and deducted before calculating the Net Asset Value (NAV) of the fund.

Fund Switch

Switching between funds is allowed under the Investor Selectable Portfolio Strategy. Policyholders can opt for this Portfolio Strategy at the commencement of the policy or can switch to this Portfolio Strategy at any subsequent policy anniversary. You have the flexibility to switch units between your investment funds according to your risk appetite and investment decisions, by giving written notice to the Company. Fund as on that date will be switched to the other Fund/s, as specified by the Policyholder. You can make unlimited free switches during the policy term.

In - force

In-force Policies are valid/active policies for which the full premiums as on date are paid.

Lapse

The termination of an insurance policy due to non-payment of premium.

Mortality Charges

Depending upon the age and the amount of cover, the charges levied towards providing life insurance cover to the insured are called as Mortality Charges

Policy Administration Charges

These are the charges deducted on a monthly basis to recover the expenses of maintaining the policy including record keeping, paper work, services, etc.

Premium Allocation Charges

These charges are deducted upfront from the premium paid by the policyholder as a percentage of premium. These charges account for the initial expenses incurred by the company in issuing the policy, e.g., cost of underwriting, medicals and expenses related to distributor fees. After these charges are deducted, the money gets invested in the chosen fund.

Regular Premium

The amount payable by the policyholder at regular intervals during the Premium Paying Term, and at the Premium Payment Frequency

Regular Premium Fund Value

The total number of Units pertaining to the Regular/ Limited Premium existing in each Fund under this Policy, multiplied by their respective Unit Price on the relevant date

Reinstatement

To restore the policy after the life insurance policy has lapsed.

Revival Period

As long as the policyholder pays premium on time, the policy remains in force. The policy lapses when premiums are not paid even after the completion of the grace period. Thereafter, the Life Insurance Company provides an option to the policyholder wherein he/she can make the policy in force only during a specific period after the grace period. The process is called Revival of the Life Insurance Policy or Policy Revival and the period is called Revival Period.

Rider Sum Assured

"Rider Sum Assured" means the sum assured as mentioned in the Schedule. For more details, please refer respective rider sales literature.

Rider Life Assured

"Rider Life Assured" means the person named as the Rider Life Assured in the Schedule whose life is assured under this Rider. For more details, please refer respective rider sales literature.

Rider Premium Charge

"Rider Premium Charge" means the charge deducted to provide the Rider benefit. For more details, please refer respective rider sales literature.

Rider Term

"Rider Term" means the period between the Date of Commencement of Rider and the Rider Maturity Date, as mentioned in the schedule. For more details, please refer respective rider sales literature.

Surrender Value

A value payable if you want to surrender the plan before a claim arises.

Settlement Option

In Unit Linked Polices, instead of taking a lump sum amount at maturity, some plans provide policyholders with the option to receive the Maturity Benefits as a structured payout (periodic instalments) over a period of  5 years after maturity. This is known as the Settlement Option.

Top Up Premium

The amount of additional premium paid over and above the Regular/ Limited Premium payable under this Policy

Top Up Premium Fund Value

The number of Units pertaining to Top Up Premium under a policy, multiplied by the respective Unit Price on the relevant valuation date

Unit Price

Market value of investment held by the fund plus value of current assets less value of current liabilities and provisions, if any, divided by number of units existing on Valuation Date. This calculation will be done before creation / redemption of units.

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  • Solvency ratio of 804% **
  • Our Priority is not to sell Life Insurance, it is to serve you in the fastest & most convenient manner when you need us.

**All figures as on 31st March, 2019.

"What are your life goals?" is one of the most common questions that comes to one's mind while taking any step further in Life. Most just answer it by laughing it off or saying we will think about it.

A key reason that they feel this way is that they haven't spent enough time thinking about what they want from their life, and haven't set themselves any goals.

Goals keep changing as per different life stages and one has to plan meticulously for their future.

Deciding your Life Goal is all about planning to "Live your life, your way". There could be various Life Goals such as trotting the globe, becoming a food blogger to starting your own business, owning your dream house, or planning your Childs education or marriage.

L"IF"E is full of IF's... and one needs to plan to secure their loved ones and themselves against the Ifs of Life. When you opt for a life insurance plan, you transfer your family's financial risks in case of any unfortunate event to the life insurer. This allows you and your loved ones to live life fearlessly. Life Insurance protects your family's financial wellbeing from the consequences of living without an income.

When you purchase a life insurance policy, one of your major life goal gets fulfilled i.e. you purchase a sense of security. A safety net that cushions your family members from the financial impact of your sudden absence and ensures that any outstanding debts that were incurred during your lifetime don't fall upon your loved ones.

Having life goals is an important aspect in each one's life. One needs to be SMART and plan out well in advance to ensure nothing goes wrong in the future. Life insurance offers a range of products that could come in handy for meeting your financial goals.

To ensure that it is not too late, get your #LifeGoals insured with us today! It will help you smile in the face of tomorrow's uncertainties and let you live a worry free life!

# depending on the Single Premium chosen