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

Bajaj Allianz Life Future Wealth Gain A Unit-Linked Endowment Life 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
  • Sample Illustration
  • Policy Benefits
  • Surrender
  • Loyalty Additions
  • Fund Booster
Add Image Here

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

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, a non-participating, individual, 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 the annual 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 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 offers optional Accidental Death Benefit Rider, Accidental Permanent Total/Partial Disability Benefit Rider and Waiver of Premium Benefit Rider in the Wealth Plus variant. 

Variants

Wealth Plus

This variant provides death and maturity benefit and you can also opt for rider benefits. 

Death Benefit

  • In the unfortunate event of the death of the life assured, the nominee gets higher of:
    • Sum assured plus top-up sum assured, if any, or 
    • Fund Value as on the date of receipt of intimation of death
  • The plan ensures a guaranteed benefit of 105% of the total premiums paid till the day of death, where the total premiums paid is (annualized premium X number of years for which premiums have been paid) + top-up premiums, if any, paid.

Two portfolio strategies

Investor Selectable Portfolio Strategy enables you to choose from eight 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.

 

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

*The variant has to be chosen at the inception of the policy and cannot be changed subsequently.

Choose the premium you want to pay

Choose the sum assured multiplier to decide your life cover#

#Applicable only for "Wealth Plus" variant as per the minimum/maximum sum assured criteria. Please refer to the Eligibility Parameters. Under "Wealth Plus Care" the minimum & maximum sum assured are the same.

Choose your policy term and premium payment term

Choose the premium payment frequency

Choose between the two portfolio strategies

Choose the riders (optional and with rider charges applicable)

Entry Age

Minimum Age at Entry 

 0 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

For Age < 45

For Age >= 45

10 times Annualized Premium or 0.5* Annualized Premium* Policy Term, whichever is higher

10 times Annualized Premium or 0.25* Annualized Premium* Policy Term, whichever is higher

Maximum Sum Assured

Age

Multiplier

0-25 years

40

26-35 years

30

36-40 years

20

41-44 years

15

45 years & Above

Higher of 10 times Annualized Premium or 0.25* Annualized Premium* Policy Term

Minimum/ Maximum Top up Sum Assured

For Age < 45

For Age >= 45

125% of Top up Premium

110% of Top up Premium

Age calculated is age as at the last birthday

Anuj, 30 years old

Anuj has taken a Bajaj Allianz Life Future Wealth Gain 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. 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

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 Investment Returns#

Maturity Benefit (Fund Value)

Death Benefit

of 8%

₹ 12,70,135

₹ 8,72,073

of 4%

₹ 9,31,750

₹ 6,73,070

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

# The above illustrations are considering investment is in the "Pure Stock Fund II" 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" and Goods and Service Tax of 18%.

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.

Maturity Benefit

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

Death Benefit

  • IIf 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:

    • Sum Assured plus Top up Sum Assured, if any, or

    • Fund Value# as on date of receipt of intimation of death

    #Fund Value is as explained in the definition section

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

    * Total premiums paid shall be (Annualized premium * number of years for which premiums have been paid + Top up premiums paid).

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

    Note :

    • If death of the life assured occurs before attaining age 60 years, then, the sum assured 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. 
    • 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 the partial withdrawals made from the regular premium fund during the two year period before attaining age 60 and all the partial withdrawals made from the regular premium fund after attaining age 60. 

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 

116A030V01

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

    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 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.

    • 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 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)

      10

      15%

      15

      20%

      20

      25%

      25

      30%

    • 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) for Policy Term

      Premium Payment Term

      5years

      7years

      10years

      15years

      10 years

      5%

      7%

      10%

      NA

      15 years and Above

      30%

      42%

      60%

      90%

    • 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

  • Overview
  • Key Advantage
  • How this works
  • Eligibility
  • 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, a non-participating, individual, 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 the annual 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 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.

Variants

Wealth Plus Care

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 eight 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.

 

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

*The variant has to be chosen at the inception of the policy and cannot be changed subsequently.

Choose the premium you want to pay

Choose the sum assured multiplier to decide your life cover#

#Applicable only for "Wealth Plus" variant as per the minimum/maximum sum assured criteria. Please refer to the Eligibility Parameters. Under "Wealth Plus Care" the minimum & maximum sum assured are the same.

Choose your policy term and premium payment term

Choose the premium payment frequency

Choose between the two portfolio strategies

Choose the riders (optional and with rider charges applicable)

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 and Maximum Sum Assured

Minimum Sum Assured:

For Age<45

For Age>=45

10 times Annualized Premium or 0.5* Annualized Premium* Policy Term, whichever is higher

10 times Annualized Premium or 0.25* Annualized Premium* Policy Term, whichever is higher

Maximum Sum Assured:

10 times Annualized Premium or 0.5* Annualized Premium* Policy Term, whichever is higher

10 times Annualized Premium or 0.25* Annualized Premium* Policy Term, whichever is higher

Subject to a maximum sum assured of `1 Crore includingTop-up sum assured

Minimum/ Maximum Top up Sum Assured

 

For Age < 45

 

 

For Age >= 45

 

 

125% of Top up Premium

 

 

110% of Top up Premium

 

Age calculated is age as at the last birthday

Anuj, 30 years old

Anuj is 30 years old and has taken a Bajaj Allianz Life Future Wealth Gain 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. The Sum Assured will be 10 times of his annual premium i.e. ₹ 5,00,000. 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

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 Investment Returns#

Maturity Benefit (Fund Value)

Accelerated Cancer Benefit

Income Benefit

of 8%

12,57,439

5,00,000

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

of 4%

9,21,988

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 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%.

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.

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 or on first diagnosis of cancer (subject to waiting period**) of the life assured during the policy term, whichever is earlier, the benefit payable will be, higher of:

    • Sum Assured plus Top up Sum Assured, if any, or

    • Fund Value# as on date of receipt of intimation of death

      Plus

      Income Benefit (as detailed below)

      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 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 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 first installment is payable on the first premium due date after the date of death or diagnosis of cancer, as applicable.
  • Income Benefit will be payable if the policy is in force, excluding paid-ups
  • Income Benefit will not be payable in case of a discontinued or paid-up policy
  • If death of the life assured occurs after claim has been paid for cancer and income benefit being triggered, no additional benefit will be payable on death and outstanding income benefits (if any) will be paid to the nominee.
  • Income Benefit is not payable if the death or the first diagnosis of cancer occurs after the premium payment term.
    • # Fund Value is as explained in the definition section

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

      * Total premiums paid shall be (Annualized Premium* number of years for which premiums have been paid + Top up Premiums paid).

      ** The Waiting Period is 180 days from the Date of Commencement of Risk or date of latest revival, whichever is later.

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

      Note:

  • If death of the life assured occurs before attaining age 60 years, then, the sum assured 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.
  • 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 the partial withdrawals made from the regular premium fund during the two year period before attaining age 60 and all the partial withdrawals made from the regular premium fund after attaining age 60.

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 Company website or consult your 'Insurance Consultant' for more details and eligibility conditions.

    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 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.

    • 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 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)

      10

      15%

      15

      20%

      20

      25%

      25

      30%

    • 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) for Policy Term

      Premium Payment Term

      5years

      7years

      10years

      15years

      10 years

      5%

      7%

      10%

      NA

      15 years and Above

      30%

      42%

      60%

      90%

    • 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

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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.

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  • Claim deposits via electronic transfer to make process faster
  • Solvency ratio of 767% **
  • 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 31 December, 2018.

"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!

# At 5years interval, starting from the 10th policy year

## Available with only Wealth Plus Care variant