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    Bajaj Allianz Life Future Wealth Gain Watch Video 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,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 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

    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 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

    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

    10 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 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

    At investment return

    Maturity Benefit (Fund Value)

    of 8%

    ₹  12,71,536

    of 4%

    ₹  9,32,847

     

    # 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 II" and Goods & Service tax of 18% 15%.

    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.

    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 investment return

    Death Benefit

    of 8%

    ₹  8,73,400

    of 4%

    ₹  6,74,263

    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 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 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.

    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

    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 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 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)1

        10

        15%

        15

        20%

        20

        25%

        25

        30%

        1Loyalty 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)2 for Policy Term

        Premium Payment Term

        5years

        7years

        10years

        15years

        10 years

        5%

        7%

        10%

        NA

        15 years and Above

        30%

        42%

        60%

        90%

        2Fund 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

    • 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, 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 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

    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 Sum Assured

    10 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 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

    At Assumed Investment Returns#

    Maturity Benefit (Fund Value)

    of 8%

    12,58,851

    of 4%

    9,23,101

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

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

    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.

    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#

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

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

    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:

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

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

        ** 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:

    • % Guaranteed Death Benefit on death of Life 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.

    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 and will be paid immediately.

      • 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)1

        10

        15%

        15

        20%

        20

        25%

        25

        30%

        1 Loyalty 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)2 for Policy Term

        Premium Payment Term

        5years

        7years

        10years

        15years

        10 years

        5%

        7%

        10%

        NA

        15 years and Above

        30%

        42%

        60%

        90%

        2Fund 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

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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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    • Amongst ‘Top 75 most valuable Indian Brands 2019’1
    • One of the most Trusted Brand2
    • Claims Settlement Ratio 98.02%~
    • 1 Day Claim Approval7
    • Solvency ratio of 745% **
    • AAA (In) Rating by CARE – Highest Claims Paying Ability$
    • Claim deposits via electronic transfer to make process faster
    • ` 56,085 Total Assets Under Management (AUM)
    • 3.44 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.

    787% of non-investigative individual claims approved in one working day for FY 2019-20. 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

    ~Individual Claims Settlement Ratio for FY 2019-2020

    **All figures as on 31 March, 2020

    #Individual & Group

    1 Report published by Kantar millward brown

    2Survey conducted by brand equity – Nielsen in March 2019

    $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!

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

    ## Available with only Wealth Plus Care variant