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IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.

Bajaj Allianz Life Future Wealth Gain II

Please Select Language
A Unit- linked Non- Participating Individual Life Savings Insurance Plan

  • Fund Booster at maturity
  • Periodic loyalty additions#

  • Accelerated Cancer Cover##

  • High life insurance cover
Future wealth gain ulip insurance plan online

  • Overview
  • Key Advantage
  • How this works
  • Eligibility
  • Downloads
  • Sample Illustration
  • Policy Benefits
  • Surrender
  • Loyalty Additions
  • Fund Booster
Add Image Here

ULIP Insurance With More Life Cover - Bajaj Allianz Life Future Wealth Gain II

As one continues to cross life’s key milestones, life goals evolve and increase as well. Thereby, the expectations from one’s investments increase manifold. You look for options that offer sound returns along with securing the life goals of your loved ones in your absence, or having a financial support system in case any critical illness were to strike, amongst others.

Bajaj Allianz Life Future Wealth Gain II, a non-participating, individual,life, unit-linked regular/ limited premium payment endowment plan, offers the dual benefit of protection and growth to fulfil your expectations from your investments. It comes with two variants - Wealth Plus and Wealth Plus Care. This holistic investment solution enables you to plan for your life goals in a disciplined manner.

Fund booster

A percentage of one annualized premium is added to the fund value at maturity of the plan, thereby enhancing the overall maturity amount.

Loyalty additions

The policy rewards your decision to stay invested by adding a specified percentage of the prevailing annualised premium to the fund value, every five years from the 10th policy year onwards. 

Maturity Benefit

Under both variants, on maturity, the fund value will be payable 

Rider benefits

Future Wealth Gain II offers optional Accidental Death Benefit Rider, Accidental Permanent Total/Partial Disability Benefit Rider and Waiver of Premium Benefit Rider and Linked Accident Protection Rider in the Wealth Plus variant. 

Variants

Wealth Plus

Benefits Payable

Maturity Benefit

On the maturity date, you will receive the Regular Premium Fund Value plus Top up Premium Fund Value.

Death Benefit

If all due premiums are paid, then, in case of unfortunate death of the life assured during the policy term, the death benefit payable will be, higher of:

  • Regular Premium Prevailing Sum Assured% plus Top up Sum Assured, if any, or
  • Fund Value as on date of receipt of intimation of death

The death benefit is subject to the Guaranteed Death Benefit% of 105% of the total premiums* paid, till the date of death.

*Total premiums paid shall be sum of all regular/limited and top-up premiums paid till date.

All the above is paid as on date of receipt of intimation of death at the Company’s office.

  • % The benefit shall be reduced to the extent of the partial withdrawals made from the regular premium fund during the two year period immediately preceding the death of the life assured.

Two portfolio strategies

Investor Selectable Portfolio Strategy enables you to choose from fifteen different funds. Under the Wheel of Life Portfolio Strategy, your investment in different funds is done basis years to maturity based strategy. You have the option to change between these strategies in keeping with your evolving life stages, risk appetite or needs.

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.

  1. 1

    Choose from the two variants – "Wealth Plus" & "Wealth Plus Care"1

  2. `
  3. 2

    Choose the premium you want to pay

  4. `
  5. 3

    Choose the sum assured multiplier to decide your life cover2

  6. `
  7. 4

    Choose your policy term and premium payment term

  8. `
  9. 5

    Choose the premium payment frequency

  10. `
  11. 6

    Choose between the two portfolio strategies

  12. `
  13. 7

    Choose the riders (optional and with rider charges applicable)

  14. `
  15. Note:
    1The variant has to be chosen at the inception of the policy and cannot be changed subsequently.
    2Applicable as per the minimum/maximum sum assured criteria. Please refer to the Eligibility Parameters.

  16. `

Entry Age

Minimum Age at Entry 

 0 years

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 at Entry

60 years

If more than one rider is chosen under the policy, the maximum age at entry shall be restricted to 50 years.

Maturity Age

Minimum age at maturity

18 years

Maximum age at maturity

75 years

Policy Term

Policy Term (in yrs)

Premium Payment Term (in yrs)

10

5, 7, 10

15 to 25

5, 7, 10, 15

Premium Payment Frequency

Yearly, Half-yearly, Quarterly and Monthly

Quarterly & Monthly premium payment frequency will be available under salary deduction scheme & ECS

Premium

Minimum

Maximum

Annual Premium ₹ 50,000

As per Board approved underwriting policy

Half Yearly Premium ₹ 30,000

Quarterly Premium ₹ 15,000

Monthly Premium ₹ 5,000

Minimum Top up premium is ₹ 5,000

Minimum Sum Assured

7 times Annualized Premium

Maximum Sum Assured

Age

Multiplier

0 – 25 years

40

26 – 35 years

30

36 – 40 years

20

41 – 44 years

15

45 years & Above

10

Minimum/ Maximum Top up Sum Assured

125% of Top up premium

Age calculated is age as at the last birthday

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

Anuj, 30 years old

Anuj has taken a Bajaj Allianz Life Future Wealth Gain II policy with Wealth Plus variant for which he is paying a regular premium of ₹ 50,000 p.a. for a Policy Term of 15 years. He has chosen the Sum Assured as 10 times of his annual premium, i.e. ₹. 5,00,000. The total premium paid by Anuj will be ₹ 7,50,000. Let’s see the benefits available under the variant.

  • Maturity Benefit
  • Death Benefit

On the maturity date, Anuj's maturity benefit, based on the assumed investment returns, are as per the table given below

  • future wealth gain maturity

At Assumed return#

Maturity Benefit (Fund Value)

of 8%

₹  12,71,844

of 4%

₹  9,33,067

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 amount indicated is a non-guaranteed illustrative figure and is subject to policy terms and conditions.

#This illustration is considering investment in "Pure Stock fund II" and Goods & Service tax of 18%.

 

In case of Anuj's unfortunate death in the 12th policy year, the death benefit, based on the assumed investment returns, are as per the table given below

  • future wealth gain death benefit

At assumed return#

Death Benefit

of 8%

₹  8,73,655

of 4%

₹  6,74,467

The death benefit is subject to the guaranteed benefit, which is 105% of the total premiums paid, till the date of death.

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 amount indicated is a non-guaranteed illustrative figure and is subject to policy terms and conditions.

#This illustration is considering investment in "Pure Stock fund II" and Goods and Service Tax of 18%.

Maturity Benefit

On the maturity date, you will receive the Fund Value^.

Death Benefit

If all due premiums are paid, then, in case of unfortunate death of the life assured during the policy term, the death benefit payable will be, higher of:

  • Higher of (Regular Premium Prevailing Sum Assured4 or Regular Premium Fund Value1

  • plus

  • Higher of (Top up Sum Assured,or Top up Premium Fund Value2

     

The death benefit is subject to the Guaranteed Death Benefit% of 105% of the total premiums3 paid, till the date of death.

If the rider Waiver of Premium (WOP) has been taken under the policy and the WOP benefit has already been triggered under the policy, then, on termination of policy the present value of future WOP installments, discounted at 4% p.a., shall be payable.

The policy will terminate on the date of intimation of death of the life assured. All the above is paid as on date of receipt of intimation of death at the Insurance Company’s office.

%Sum Assured/Guaranteed Death Benefit shall be reduced to the extent of the partial withdrawals made from the regular premium fund during the two (2) year period immediately preceding the death of the life assured.

^Fund Value is equal to Regular Premium Fund Value (1) plus Top Up Premium Fund Value (2), where:

1Regular Premium Fund Value is equal to the total Units in respect of regular/limited premiums paid under this policy multiplied by the respective unit price on the relevant valuation date and

2Top 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.

3Total premiums paid shall be sum of all regular/limited and Top-Up premiums paid till date.

4Prevailing Sum Assured is Sum Assured in any year after reduction of premium or decrease of Sum Assured, if any.

Additional Rider Benefits

Under "Wealth Plus" Variant

 

Riders

UIN

1

Bajaj Allianz ULIP Accidental Death Benefit Rider 

116A013V02

2

Bajaj Allianz ULIP Accidental Permanent Total/Partial Disability Benefit Rider

116A014V02

3

Bajaj Allianz ULIP Waiver of Premium Benefit Rider 

116A030V02

4

Bajaj Allianz Life Linked Accident Protection Rider

116A055V01

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

Family Benefit

If any of your family member is an existing policyholder of Bajaj Allianz Life Insurance Company Limited, you will be entitled to a family benefit.

The benefit will be paid to you on maturity and will be added into the regular premium fund value as a percentage of the average of your previous three years daily regular premium fund value. The percentage of family benefit will depend upon the policy term opted by you:

Policy Term

% age family benefit

<20 years

0.5%

>=20 years

1%

There will not be any family benefit for Top-up premiums paid.

The amount of Family Benefit will be allocated in the funds in the same proportion of the fund values as at the date of addition.

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

    You have the option to surrender your policy at any time.

    • On surrender during the lock-in period of first 5 years of your policy, the Fund Value less the discontinuance/ surrender charge, as on the date of surrender, will be transferred to the Discontinued Life Policy fund (maintained by the Insurance Company), and the risk cover under the policy shall cease. You will not have the option to revive such a surrendered policy. The discontinuance value as at the end of the lock-in period will be paid to you as surrender benefit. The discontinuance/ surrender charge will be applicable only to the Regular Premium Fund Value.

    • On surrender after the lock-in period of first 5 policy years, the surrender benefit available will be the Fund Value, as on the date of surrender and will be paid immediately.

    • Under the "Wealth Plus" variant, if waiver of premium is opted and has already been triggered under the policy, then, on termination of policy, the present value of future waiver of premium installments, discounted at 4% p.a., shall be paid.

    • The Insurance Company shall allocate Loyalty Additions to the Regular Premium Fund Value as percentage of one Annualized Premium at the end of every 5th policy year starting from the 10th policy year, provided all due regular premiums have been paid up to date. The Loyalty Additions are below

      At the end of Policy Year

      Loyalty Additions (% of one Annualized Premium)6

      10

      15%

      15

      20%

      20

      25%

      25

      30%

      6Loyalty Addition is based on Prevailing Annualized Premium

    • In case the premium(s) are un-paid and the policy is revived during the revival period by paying all due premiums, the Loyalty Additions due-but-not-allotted during the period the Policy was in Discontinuance will be added to the fund as on the date of revival.

    • Amount of Loyalty Additions will be allocated in funds in the same proportion of the Fund Value as at the date of addition.

      There will not be any Loyalty Additions for Top-up premium paid. Loyalty Additions will not be paid for a Discontinued / Paid-up policy.

    • Fund Booster will be added to the Regular Premium Fund Value at maturity, provided all due regular premiums have been paid up to the date of the allocation of Fund Booster. The Fund Booster (as % of one Annualized premium) are as below

      Fund Booster (% of one Annualized Premium)7 for Policy Term

      Premium Payment Term

      5years

      7years

      10years

      15years

      10 years

      5%

      7%

      10%

      NA

      15 years and Above

      30%

      42%

      60%

      90%

      7Fund Booster is based on Annualized Premium chosen at inception

    • There will not be any Fund Booster for Top-up premium paid. Fund Booster will not be paid for a Lapsed / Paid-up / Discontinued policy

      1) The amount of Fund Booster will be allocated in the funds in the same proportion of the fund values as at the date of addition.

      2) The PPT applicable for the calculation of FB will be the prevailing Premium payment term on the date on Maturity.

  • Overview
  • Key Advantage
  • How this works
  • Eligibility
  • Downloads
  • Sample Illustration
  • Policy Benefits
  • Surrender
  • Loyalty Additions
  • Fund Booster
Add Image Here

As one continues to cross life’s key milestones, life goals evolve and increase as well. Thereby, the expectations from one’s investments increase manifold. You look for options that offer sound returns along with securing the life goals of your loved ones in your absence, or having a financial support system in case any critical illness were to strike, amongst others.

Bajaj Allianz Life Future Wealth Gain II, a non-participating, individual, life, unit-linked regular/ limited premium payment endowment plan, offers the dual benefit of protection and growth to fulfil your expectations from your investments. It comes with two variants - Wealth Plus and Wealth Plus Care. This holistic investment solution enables you to plan for your life goals in a disciplined manner.

Fund booster

A percentage of one annualized premium is added to the fund value at maturity of the plan, thereby enhancing the overall maturity amount.

Loyalty additions

The policy rewards your decision to stay invested by adding a specified percentage of the prevailing annualised premium to the fund value, every five years from the 10th policy year onwards.

Income Benefit

In Wealth Plus Care variant during the premium payment term, on death of the life assured or the first detection of cancer, future premiums on respective due dates, will be paid to the Nominee or Life Assured, as the case maybe.

Maturity Benefit

Under both variants, on maturity, the fund value will be payable 

Rider benefits

On the other hand, the Wealth Plus Care variant offers optional rider of Accidental Death Benefit Rider  and Accidental Permanent Total/Partial Disability Benefit and Linked Accident Protection Rider

Variants

Wealth Plus Care

Benefits Payable

Maturity Benefit

On the maturity date, you will receive the Regular Premium Fund Value plus Top up Premium Fund Value.

This variant has an accelerated cancer cover along with an income benefit feature.

Death Benefit

  • If the life assured has paid all the premiums then in case of his/her unfortunate death or first diagnosis of cancer, the nominee/life assured gets the higher of:
    • Sum assured plus top-up sum assured, if any, or Fund Value as on date of receipt of intimation of death or the first diagnosis of cancer 
    • The plan ensures a guaranteed benefit of 105% of the total premiums paid till the day of death or first diagnosis of cancer, where the total premiums paid is (annualized premium X number of years for which premiums have been paid) + top-up premiums, if any, paid

Plus

Income Benefit, is the total sum of all the regular premiums due under the policy after the date of death or diagnosis of cancer. Each installment of the Income Benefit is equal to one regular premium and payable on respective due dates. 

Income Benefit is not payable if the death or the first diagnosis of cancer occurs after the premium payment term. 

Two portfolio strategies

Investor Selectable Portfolio Strategy enables you to choose from fifteen different funds. Under the Wheel of Life Portfolio Strategy, your investment in different funds is done basis years to maturity based strategy. You have the option to change between these strategies in keeping with your evolving life stages, risk appetite or needs.

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.

  1. 1

    Choose from the two variants – "Wealth Plus" & "Wealth Plus Care"1

  2. `
  3. 2

    Choose the premium you want to pay

  4. `
  5. 3

    Choose the sum assured multiplier to decide your life cover2

  6. `
  7. 4

    Choose your policy term and premium payment term

  8. `
  9. 5

    Choose the premium payment frequency

  10. `
  11. 6

    Choose between the two portfolio strategies

  12. `
  13. 7

    Choose the riders (optional and with rider charges applicable)

  14. `
  15. Note:
    1The variant has to be chosen at the inception of the policy and cannot be changed subsequently.
    2Applicable as per the minimum/maximum sum assured criteria. Please refer to the Eligibility Parameters.

  16. `

Entry Age

Minimum Age at Entry

18 years

Maximum Age at Entry

53 for Policy Term / Premium Payment Term Combination of 10 / 5 years

55 years for all other combinations

If more than one rider is chosen under the policy, the maximum age at entry shall be restricted to 50 years.

Maturity Age

Minimum age at maturity

28 years

Maximum age at maturity

70 years

Policy Term

Policy Term (in yrs)

Premium Payment Term (in yrs)

10

5, 7, 10

15 to 25

5, 7, 10, 15

Premium Payment Frequency

Yearly, Half-yearly, Quarterly and Monthly

Quarterly & Monthly premium payment frequency will be available under salary deduction scheme & ECS

Premium

Minimum

Maximum

Annual Premium ₹ 50,000

As per maximum sum assured allowed

Half Yearly Premium ₹ 30,000

Quarterly Premium ₹ 15,000

Monthly Premium ₹ 5,000

Minimum Top up premium is ₹ 5,000

Minimum Sum Assured

7 times Annualized premium

Maximum Sum Assured

10 times Annualized premium

Subject to a maximum sum assured of ₹ 1 Crore including Top-up sum assured

Minimum/ Maximum Top up Sum Assured

125% of Top up premium

Age calculated is age as at the last birthday

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

Anuj, 30 years old

Anuj has taken a Bajaj Allianz Life Future Wealth Gain II policy with Wealth Plus Care variant for which he is paying a regular premium of ₹ 50,000 p.a. for a Policy Term of 15 years. He has chosen the Sum Assured as 10 times of his annual premium, i.e. ₹. 5,00,000. The total premium paid by Anuj will be ₹ 7,50,000. Let’s see the benefits available under the variant.

,
  • Maturity Benefit
  • Death or Accelerated Cancer Benefit

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

  • future wealth gain maturity benefit

At Assumed Returns#

Maturity Benefit (Fund Value)

of 8%

12,59,747

of 4%

9,23,795

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 amount indicated is a non-guaranteed illustrative figure and is subject to policy terms and conditions.

#This illustrations considering investment in "Pure Stock Fund II" and Goods and Service Tax of 18%.

If in the 6th policy year, Anuj is diagnosed with cancer, Accelerated Cancer Benefit plus the Income Benefit will be triggered. The Income Benefit is payable in installment at each policy anniversary for the remaining period of the premium payment term. Based on the assumed investment returns, the benefits payable are as per the table given below.

  • future wealth gain death benefit

At Assumed Returns#

Accelerated Cancer Benefit

Income Benefit

of 8%

5,00,000

₹50,000 annually as Income Benefit till the end of premium payment term

of 4%

5,00,000

Once cancer benefit is paid, further no death benefit shall be payable in case of death during the Income Benefit period and policy will get terminated immediately on payment of last installment of Income Benefit.

The death benefit or the accelerated cancer benefit is subject to the guaranteed benefit, which is 105% of the total premiums paid, till the date of death.

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 amount indicated is a non-guaranteed illustrative figure and is subject to policy terms and conditions.

#This illustrations considering investment in "Pure Stock Fund II" and Goods and Service Tax of 18%.

Maturity Benefit

On the maturity date, you will receive the Fund Value^.

Death Benefit

  • If all due premiums are paid, then in case of unfortunate death or on first diagnosis5 of cancer (subject to waiting period**) of the life assured during the policy term, whichever is earlier, the benefit payable will be, higher of:

    • Higher of (Regular Premium Prevailing Sum Assured4 or Regular Premium Fund Value1

    • plus

    • Higher of (Top up Sum Assured, or Top up Premium Fund Value2) plus Income Benefit
    •  

    Income Benefit:

    If the death or the first diagnosis of cancer (subject to waiting period**) occurs during the premium payment term, then, an additional benefit as Income Benefit will be payable.

    • The Income Benefit is equal to the total of all the prevailing regular premiums due under the policy after the date of death or diagnosis of cancer, as applicable.
    • Each installment of the Income Benefit is equal to one prevailing regular premium.
    • In case of death/first diagnosis of cancer, it is payable to the nominee/policyholder at each premium due date for the remaining
    • period of the premium payment term. The Income benefit cannot be taken as a lump-sum.
    • The first installment is payable on the first premium due date after the date of death or diagnosis of cancer, as applicable.
    • Mortality and Morbidity charges will be deducted for this benefit , till the incidence of death or the first diagnosis of cancer (whichever is earlier)
    • Income Benefit will be payable if the policy is in force, excluding paid-ups
  • If all due premiums are paid, then in case of unfortunate death or on first diagnosis5 of cancer (subject to waiting period**) of the life assured during the policy term, whichever is earlier, the benefit payable will be, higher of:

    • Higher of (Regular Premium Prevailing Sum Assured4 or Regular Premium Fund Value1

    • plus

    • Higher of (Top up Sum Assured, or Top up Premium Fund Value2) plus Income Benefit

Note:

On the date of intimation of death or on the first diagnosis of cancer, during PPT, the death benefit shall be paid and no future premiums are payable. The policy will terminate on payment of the last installment of income benefit.

The death benefit or the accelerated cancer benefit is subject to the Guaranteed Death Benefit% of 105% of the total premiums3 paid, till the date of death or first diagnosis of cancer.

5 First Diagnosis means the diagnosis of the first Cancer in the lifetime of the life assured. The policy will be only issued to life assured who have not had any cancer prior to the date of policy inception.

**The Waiting Period is 180 days from the Date of Commencement of Risk or date of latest revival, whichever is later. No Cancer-related benefit will be payable, if Cancer claim occurs within the waiting period or any signs or symptoms related to cancer has occurred during the waiting period

Additional Rider Benefits

Under "Wealth Plus Care" Variant

 

Riders

UIN

1

Bajaj Allianz ULIP Accidental Death Benefit Rider 

116A013V02

2

Bajaj Allianz ULIP Accidental Permanent Total/Partial Disability Benefit Rider

116A014V02

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

Family Benefit

If any of your family member is an existing policyholder of Bajaj Allianz Life Insurance Company Limited, you will be entitled to a family benefit.

The benefit will be paid to you on maturity and will be added into the regular premium fund value as a percentage of the average of your previous three years daily regular premium fund value. The percentage of family benefit will depend upon the policy term opted by you:

Policy Term

% age family benefit

<20 years

0.5%

>=20 years

1%

There will not be any family benefit for Top-up premiums paid.

The amount of Family Benefit will be allocated in the funds in the same proportion of the fund values as at the date of addition.

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

    You have the option to surrender your policy at any time.

    • The discontinuance value as at the end of the lock-in period will be paid to you as surrender benefit..

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

    • The Insurance Company shall allocate Loyalty Additions to the Regular Premium Fund Value as percentage of one Annualized th th Premium at the end of every 5 policy year starting from the 10 policy year, provided all due regular premiums have been paid up to date. The Loyalty Additions are below:

      At the end of Policy Year

      Loyalty Additions (% of one Annualized Premium)6

      10

      15%

      15

      20%

      20

      25%

      25

      30%

      6Loyalty Addition is based on Prevailing Annualized Premium

    • In case the premium(s) are un-paid and the policy is revived during the revival period by paying all due premiums, the Loyalty Additions due-but-not-allotted during the period the Policy was in Discontinuance will be added to the fund as on the date of revival.

    • Amount of Loyalty Additions will be allocated in funds in the same proportion of the Fund Value as at the date of addition.

      There will not be any Loyalty Additions for Top-up premium paid. Loyalty Additions will not be paid for a Discontinued / Paid-up policy.

    • Fund Booster will be added to the Regular Premium Fund Value at maturity, provided all due regular premiums have been paid up to the date of the allocation of Fund Booster. The Fund Booster (as % of one Annualized premium) are as below –

      Fund Booster (% of one Annualized Premium)7 for Policy Term

      Premium Payment Term

      5years

      7years

      10years

      15years

      10 years

      5%

      7%

      10%

      NA

      15 years and Above

      30%

      42%

      60%

      90%

      7Fund Booster is based on Annualized Premium chosen at inception

    • There will not be any Fund Booster for Top-up premium paid. Fund Booster will not be paid for a Lapsed / Paid-up / Discontinued policy

    • 1) The amount of Fund Booster will be allocated in the funds in the same proportion of the fund values as at the date of addition.

      2) The PPT applicable for the calculation of FB will be the prevailing Premium payment term on the date on Maturity.

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⭐ What is Income Benefit?

Income Benefit is an additional benefit that is payable in case of death or diagnosis of cancer of the life assured during the premium payment term. This benefit is available only to the policyholders of Wealth Plus Care variant and is payable if the policy is in force, excluding paid-ups.

The Income Benefit is the sum of all the regular premiums due under the policy after the date of death or diagnosis of cancer, as applicable. Each instalment of the Income Benefit is equal to one regular premium, and is paid on each premium due date for the remaining period of the premium payment term.

However, in case of death of the life assured after the claim has been paid for cancer and Income Benefit is triggered, no additional benefits are payable on death. All outstanding Income Benefits (if any) will be paid to the nominee in such a scenario. 

⭐ Please explain how does Death / Accelerated Cancer Benefit available in Wealth Plus Care Variant operate?

The Death or Accelerated Cancer Benefit is payable in case of death or the first diagnosis of cancer of the life assured (subject to a waiting period of 180 days). In case such an event happens before the maturity date, the Death / Accelerated Cancer Benefit is payable to the nominee as a lump sum. It includes the higher of the sum assured or regular premium fund value, plus the higher of top-up premium sum assured or top-up premium fund value, if any, and Income Benefit, if the death or the diagnosis of cancer happens during the premium payment term.

In case the life assured passes away or is diagnosed with cancer after the premium payment term, the Death / Accelerated Cancer Benefit includes the higher of the sum assured or regular premium fund value and the higher of top-up premium sum assured or top-up premium fund value, if any. 

⭐ When can one get the benefit of Loyalty Additions/ Fund Boosters under this plan?

One can enjoy the benefits of Loyalty Additions and Fund Boosters added to the Regular Premium Fund Value, if the policy is in force and all premiums have been paid up to date and provided the policy or the risk cover under the policy has not been terminated 

⭐ What are the different riders available under Bajaj Allianz Life Future Wealth Gain?

There are five riders available with this plan. Under the Wealth Plus Variant, you can opt for Bajaj Allianz ULIP Accidental Death Benefit Rider, Bajaj Allianz ULIP Accidental Permanent Total/Partial Disability Benefit Rider and Bajaj Allianz ULIP Waiver of Premium Benefit Rider. Whereas under the Wealth Plus Care Variant, you can opt for Bajaj Allianz ULIP Accidental Death Benefit Rider and Bajaj Allianz ULIP Accidental Permanent Total/Partial Disability Benefit Rider.  

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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  • #1 Top Riser Brand Amongst ‘Top 75 most valuable Indian Brands 20221
  • One of the most Trusted Brand2
  • Claims Settlement Ratio 99.04%~
  • 1 Day Claim Approval7
  • Solvency ratio of 516%^
  • AAA : Stable Rating by CARE$
  • ` 90,584 Crore Total Assets Under Management (AUM)**
  • 2.82 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 2022-2023

**All figures as on 31 March 2023

^Solvency ratio 516% as at 31 March 2023 against IRDAI mandated 150%

#Individual & Group

1Report published by Kantar BrandZ India 2022 for details click here

2Survey conducted by brand equity – Nielsen in March 2020

796.31% of non-investigative individual claims approved in one working day for FY 2022-23. 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!

#Loyalty addition: loyalty addition will be allocated at the end of 5th policy year starting from 10th policy year

##Accelerated cancer cover is applicable only under "wealth plus care" variant.