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Bajaj Allianz Life Future Gain II

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A Unit-linked Non- Participating Individual Life Savings Insurance Plan

  • Maximum premium allocation
  • Life cover
  • Choice of 2 investment strategies
  • Unlimited free switches
Wealth creation ulip investment policy
  • Performance
  • Overview
  • Key Advantages
  • Eligibility
  • Downloads
  • How ULIPs works
  • Six Reasons to Invest
  • How This Works
  • Sample Illustration
  • Policy Benefits

Disclaimer: Returns are 10 year compounded annualised growth rate (CAGR) as on 20/02/2018 (DD/MM/YYYY).
Past performance is not indicative of future performance. Star rating is Overall Rating as on April 2024.

Disclaimer: Returns up to 1 year are absolute and more than 1 year are compounded annualized growth rate (CAGR) as on 20/02/2018 (DD/MM/YYYY).
Past performance is not indicative of future performance. Star rating is Morning Star Overall Rating as on February,2024.

Overview Image

Bajaj Allianz Life Future Gain II - A Unit-linked Non- Participating Individual Life Savings Insurance Plan

We all seek opportunities to gain maximum benefits at the least cost. When we decide to save our monies, we want every rupee of our hard-earned money to be utilized fully for our future goals.

We present Bajaj Allianz Life Future Gain II - a Unit-Linked Endowment Plan that provides you with a life insurance cover throughout the policy term with maximum premium allocation to funds to make sure that your valuable money is fully utilized towards your dream future

Maximum premium allocation

With low premium allocation charge, maximum amount of the premium goes in to the investment portfolio.

Two investment strategies

Offers choice between two unique portfolio strategies:

  • Investor Selectable Portfolio where based on your personal choice, you can choose among fifteen funds; and

  • Wheel of Life Portfolio, which provides you with a “Years to Maturity” based portfolio management.

Option of 15 funds

Based on your personal choice and decision, the plan allows you to choose from the 15 fund options under the Investor Selectable Portfolio Strategy.

Partial withdrawal of funds

You have the option to make partial withdrawals, any time after the fifth policy year, subject to policy terms and conditions.

Alter premium payment frequency

You can opt to alter your regular/limited premium payment frequency any time, to any other premium payment frequency (i.e., yearly, half-yearly, quarterly or monthly), provided the existing and requested premium payment frequencies can be aligned and subject to minimum premium limits under the plan.

Death/Maturity Benefits in instalments

You have the option to receive the Death/ Maturity Benefit in instalments payable monthly, quarterly, half-yearly or yearly spread over a maximum period of five years.

Option of riders

Enjoy extra coverage by choosing from five additional rider benefits: :

  • Bajaj Allianz ULIP Accidental Death Benefit Rider - UIN:116A013V02
  • Bajaj Allianz ULIP Accidental Permanent Total/ Partial Disability Benefit Rider - UIN: 116A014V02
  • Bajaj Allianz ULIP Critical Illness Benefit Rider - UIN: 116A032V02
  • Bajaj Allianz ULIP Family Income Benefit Rider  - UIN: 116A033V02
  • Bajaj Allianz ULIP Waiver of Premium Benefit Rider- UIN: 116A030V02

Avail Family Benefit:

Get an additional benefit at Maturity, if any of your family member(s)^ is an existing customer of Bajaj Allianz Life Insurance Co. Ltd.

^Family member shall be defined as spouse, children, brothers, sisters, grandchildren, parents, parents in-laws; and will be available to family members of existing customers including who have matured policies.

Entry Age

Minimum age is 1 year

In the case of minor life, the risk cover will commence immediately on date of commencement of Policy, and Policy will vest on the life assured on the attainment of majority (i.e., age 18 years)

Maximum age is 60 years

Maturity Age

Minimum age at maturity 18 years

Maximum age at maturity 70 years

Minimum Policy Term

10 years

Maximum Policy Term

The Policy term will be as follows

Premium Paying Term (In Years)

Policy term(In Years)

5 or 6

10, 15 to 20

Other PPTs

10, 15 to 30

Premium Payment Term

5 to 30 years

 

Minimum Premium (Modal Premium)

Frequency

Premium (₹)

Yearly

25,000

Half-Yearly

13,500

Quarterly

7,000

Monthly*

2,500

Top-up

5,000

*Monthly premium payment frequency will be available under salary deduction schemes & ECS.

Maximum Premium

Frequency

Premium (in `)

Yearly

12,00,000

Half-Yearly

6,00,000

Quarterly

3,00,000

Monthly

1,00,000

Maximum premium in a policy will be as per the Board Approved Underwriting Policy (BAUP)

Premium Payment Frequency

Yearly, Half Yearly, Quarterly and Monthly

Minimum Sum Assured

7 times Annualized Premium&

& AP- Annualized Premium = Premium Frequency * Modal Premium

Maximum Sum Assured

X*Annualized Premium, where X is based on age at entry and policy term as mentioned below

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

Age calculated is age at the last birthday

Prevailing Sum Assured is based on the prevailing Annualized Premium and applicable Sum Assured multiplier

How do ULIPs work?

Unit linked Insurance plan are packed with the dual powers of Investment and Insurance.
Your ulip offers market linked returns and life cover

  • Step 1

    select-a-ulip

    Select a ULIP

  • Step 2

    pay-the-premium

    Pay the premium

  • Step 3

    look-appropriate-channel

    Premium allocation charge levied

  • Step 4

    net-investible-premium

    Net investable premium

  • Step 5

    your-money-is-invested

    Your money is invested in fund choosen by you

  • Step 6

    returns-accrued-in

    Returns accured in the policy fund value

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

Six Reasons to invest in Bajaj Allianz Life Future Gain II

In Bajaj Allianz Life Future Gain II, the premiums paid by you, after applying the applicable premium allocation rate, are invested as per your chosen portfolio strategy across the various applicable funds. 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.

Harsh, 35 years old

Harsh aged 35 years has taken a Bajaj Allianz Life Future Gain II policy for a Policy Term (PT) of 24 years. Harsh has decided to pay `50,000 as annualized premium for a premium payment term of 20 years. The Sum Assured chosen by him is ` 7,00,000

  • Maturity Benefit
  • Death Benefit
  • Investment Strategy

To achieve his Life Goal, Harsh invested ₹ 50,000 Annually for 20 years. On the maturity date, Harsh would receive maturity benefit as per the table below:

Policy Term: 24 years

  • Future Gain

 

At Assumed Return#

Maturity Benefit
(in ₹)

@8%

`24,98,396

@4%

`13,72,113

#The above illustration is considering investment in - Asset Allocation Fund II and Goods and Service Tax @ 18%
Please note that the 8% and 4% investment returns are not guaranteed and is for illustration purpose only.

Unfortunately, while trying to achieve his goal, he passed away in the 14th policy year. On occurrence of this unfortunate event, his nominee stands to receive the following Death Benefit:

Policy Term: 24 years

  • Future Gain II

  • Premium Paid till 14th Policy Year

  • Annual Premium : `50,000

 

At Assumed Return#

Death Benefit
(in ₹)

@8%

`10,91,695

@4%

`8,02,414

#The above illustration is considering death in the 14th Year of the policy year, investment in - Asset Allocation Fund II and applicable Goods and Service Tax is 18%

Please note that the 8% and 4% investment returns are not guaranteed and is for illustration purpose only.

Harsh has a choice of 2 investment strategies in this ULIP:

  • 1

    Investor selectable portfolio strategy

    He can decide to invest in any of the 15 funds available under this portfolio strategy

    • Asset allocation is one of the most important concepts for all investors to know. How much of your investment portfolio should be in low, moderate or high risk instruments? The correct answer for you depends on your age, risk appetite and your investment goals.

    • If you are sure of your risk taking ability and have decided to allocate the premium based on your personal choice and decision, you may choose from among the fifteen (15) funds below as per your life goals and investment needs.

    Equity Growth Fund II, Pure Stock Fund, Asset Allocation Fund II, Bluechip Equity Fund, Bond Fund, Liquid Fund, Accelerated Midcap Fund II, Pure Stock Fund II, Flexi Cap Fund, Sustainable Equity Fund, Small cap fund, Dynamic Asset Allocation fund, Midcap Index fund and Individual Short Term Debt Fund, SmallCap Quality Index Fund

  • 2

    Wheel of Life Portfolio Strategy

    Automatically allocates/re-allocates his investment into various funds, basis the number of 'years to maturity' of his plan

    • It provides you with a "Years to maturity" based portfolio management strategy. At the policy inception, your premium will be allocated into various funds (namely, Bluechip Equity Fund, Equity Growth Fund II, Accelerator Midcap II, Bond Fund & Liquid Fund). On each policy anniversary, we will reallocate the fund value among various funds in the proportion based on the outstanding years to maturity.

    • The regular/ limited premiums and top up premiums, if any, paid, net of allocation charge in that particular policy year will also be allocated in the same proportion.

    • This will ensure that a balance is maintained between "years to maturity" and level of risk on the investments, to optimize the returns.

    • The proportion of allocation/reallocation of the premium based on the outstanding years to maturity can be viewed here

Maturity Benefit

Under Bajaj Allianz Life Future Gain II, the maturity benefit will be the regular premium fund value plus top up premium fund value 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/policyholder as a lump-sum is:

  • The higher of the prevailing Sum Assured1 or Regular Premium Fund3 Value,
  • PLUS

  • The higher of Top-up Premium Sum Assured or Top-up Premium fund value4, if any;

All the above as on date of receipt of intimation of death 

The Death Benefit is subject to the Guaranteed Death Benefit2, which is at least 105% of the Total Premiums paid5 till the date of death.


Note

1Prevailing Sum Assured is Sum Assured in any year after reduction of premium or decrease of Sum Assured, if any.

2Sum Assured / Guaranteed Death Benefit - The benefit shall be reduced to the extent of any partial withdrawals made from the Regular Premium Fund during two (2) years period immediately preceding the date of death of the Life Assured. The partial withdrawal made from the Top-up Premium Fund shall not be deducted for this purpose.

3The Regular Premium Fund Value is equal to the total Units in respect of Regular/Limited Premium under this policy multiplied by the respective unit price on the relevant valuation date.

4The Top Up Premium Fund Value is equal to the total Units in respect of Top Up Premium under this policy multiplied by the respective unit price on the relevant valuation date.

5Total premiums paid shall be sum of all regular/limited and Top Up premiums paid till date.

Surrender Benefit

You have the option to surrender your policy at anytime.

  • On surrender during the lock-in period of first five years of your policy, the regular 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 of your policy, the surrender value available will be regular premium fund value plus top up premium fund value, if any, as on the date of surrender, and will be payable immediately.
  • The policy shall terminate upon payment of the surrender/discontinuance value by the Company. 

Additional Rider Benefit

You can enjoy extra coverage by choosing the optional additional rider benefits. The riders currently available with Bajaj Allianz Life Future Gain II are: 

Sr. No.

Riders

UIN

1.

Bajaj Allianz ULIP Accidental Death Benefit Rider

UIN: 116A013V02

2.

Bajaj Allianz ULIP Accidental Permanent Total/ Partial Disability Benefit Rider 

UIN: 116A014V02 

3.

Bajaj Allianz ULIP Critical Illness Benefit Rider

UIN: 116A032V02 

4.

Bajaj Allianz ULIP Family Income Benefit Rider 

UIN: 116A033V02

5.

Bajaj Allianz ULIP Waiver of Premium Benefit Rider 

UIN: 116A030V02

6.

Bajaj Allianz Life Linked Accident Protection Rider

UIN: 116A055V01

Please refer to respective rider sales literature or visit Company website or consult your ‘Insurance Consultant’ for more details and eligibility conditions. 

Overview Image

Bajaj Allianz Life Future Gain II - A Unit-linked Non- Participating Individual Life Savings Insurance Plan

We all seek opportunities to gain maximum benefits at the least cost. When we decide to save our monies, we want every rupee of our hard-earned money to be utilized fully for our future goals.

We present Bajaj Allianz Life Future Gain II - a Unit-Linked Endowment Plan that provides you with a life insurance cover throughout the policy term with maximum premium allocation to funds to make sure that your valuable money is fully utilized towards your dream future

Documents you’ll need before investing

⭐ What is the difference between Investor Selectable portfolio strategy and Wheel of Life portfolio strategy?

Bajaj Allianz Life Future Gain II comes with two distinct portfolio strategies to enable you to meet your goals. In the Investor Selectable portfolio strategy, you can choose from the 15 funds keeping in mind your risk appetite and investment needs. These funds include Equity Growth Fund II, Pure Stock Fund, Asset Allocation Fund II, Bluechip Equity Fund, Bond Fund, Liquid Fund, Accelerated Midcap Fund II, 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 and SmallCap Quality Index Fund
Wheel of life ensures that a balance is maintained between your ‘years to maturity’ and level of risk on your investments, in a nutshell higher the age lower is the risk exposure.

⭐ Is it possible to move from Investor Selectable portfolio strategy to Wheel of Life portfolio strategy and vice-versa?

Yes, you can change from Investor Selectable portfolio strategy to Wheel of Life portfolio strategy and vice versa at any policy anniversary by giving a 30 days’ prior written notice to the company. 

⭐ How many partial withdrawals are allowed in a year? What is the minimum and maximum amount of partial withdrawal allowed?

You can avail the facility of partial withdrawals after the end of fifth policy year. A maximum of two partial withdrawals is allowed in one policy year and the gap between any two partial withdrawals needs to be a minimum three months. Besides, the total amount withdrawn throughout the policy term must not exceed 50% of the total premiums paid, including top-up premium, if any.

 

The minimum amount of partial withdrawal is ₹ 5,000 and the maximum amount of partial withdrawal at any one time is 10% of the total premium paid, including top-up premium, as on the withdrawal request date.

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.

Life Insurance for Life Goals Zp

A traditional life insurance plan only protects your family against the financial dangers posed by unforeseen death. But life insurance can be much more than a simple shield against financial hardship.

We all have some financial goals that we would like to reach in our lifetimes. These include buying a house, owning a car, getting our children settled, and having a comfortable retirement. Plans that combine the protection of life insurance with the growth of investment can help you reach all these goals, so that none of your dreams remain unfulfilled.

Life Insurance for Life Goals

A traditional life insurance plan only protects your family against the financial dangers posed by unforeseen death. But life insurance can be much more than a simple shield against financial hardship.

We all have some financial goals that we would like to reach in our lifetimes. These include buying a house, owning a car, getting our children settled, and having a comfortable retirement. Plans that combine the protection of life insurance with the growth of investment can help you reach all these goals, so that none of your dreams remain unfulfilled.

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  • Claims Settlement Ratio 99.23%~
  • 1 Day Claim Approval7
  • Solvency ratio of 432%^
  • AAA : Stable Rating by CARE$
  • ` 106,829 Crore Total Assets Under Management (AUM)**
  • 4.19 Crore number of lives covered#
  • Our Priority is not to sell Life Insurance, it is to serve you in the fastest & most convenient manner when you need us.

~Individual Death Claim Settlement Ratio for FY 2023-2024

**All figures as on 31 March 2024

^Solvency ratio 432% as at 31 March 2024 against IRDAI mandated 150%

#Individual & Group

796.70% of non-investigative individual claims approved in one working day for FY 2023-24. 1 day is counted from date of intimation of claim before 3 PM on a working day (excluding Non-NAV days for ULIP) at Bajaj Allianz Life offices

$For details refer to press release published by CARE

"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!

Tax benefits as per prevailing Income tax laws shall apply. Please check with your tax consultant for eligibility.