Claim Settlement Ratio of 99.23%~

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

Bajaj Allianz Life Magnum Fortune Plus II

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

Life Cover throughout policy term
Wide Range of funds and portfolio strategy
Loyalty Additions2
Unlimited Free Switches
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  • Performance

  • Overview

  • Key Advantages

  • How this works

  • Eligibility

  • Downloads

  • How ULIPs Works

  • Sample Illustration

  • Policy Benefits

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Current Fund Options Absolute Returns CAGR Returns Morningstar Rating RATING
3 Month 6 Month 1 Year 2 Year 3 Year 5 Year 10 Year Since Inception(%)

Disclaimer: Returns are 10 year compounded annualised growth rate (CAGR) as on 13/8/2024 (DD/MM/YYYY).
Past performance is not indicative of future performance.Star rating is Overall Rating as on September 2024.

 

As an individual you may have many life goals like planning for your children’s education, their marriage, planning for your retirement, along with planning for the financial security for your loved ones. Now it’s time to achieve your life goals with the help of a Unit linked life insurance product.

Keeping this objective in mind, we present to you Bajaj Allianz Life Magnum Fortune Plus II : A Unit-linked Non-Participating Individual Life Savings Insurance Plan that offers life insurance during the entire policy term and flexibilities to choose from wide range of funds to help you meet your future financial goals.

Choice of Portfolio Strategies

Offers Choice Between Portfolio Strategies:

1. Investor Selectable Portfolio Strategy

2. Automatic Transfer Portfolio Strategy

3. Target Asset Allocation Strategy

Tax Benefits*:

Tax benefits* may be applicable on premiums paid and benefits received, as per the prevailing tax laws.

Choice of Multiple Premium Bands:

Choose one of the three premium bands to match your savings needs.

Loyalty Additions:


Fund additions from 10th policy year to enhance your savings corpus.

Premium

% of Regular Premium Fund Value

<1,00,000

0.50%

>=1,00,000

0.70%

Maturity Booster


Enjoy additional Maturity value for being an existing customers^ and for choosing auto pay.

Category/ policy term

10th year

15th year

20th year

25th year

30th  year

Auto pay

0.25%

0.5%

0.5%

1%

1%

Existing customer

0.25%

0.5%

0.5%

1%

1%

 

the Maturity Booster will be added as a percentage of last 3 years average fund value and only if all the premiums are paid up to date of maturity

^If the Policyholders has/had previous policy/ies with the Company (prior to taking this Policy) is referred to as Existing Customer

Return of Mortality Charges:

- Get Return of Mortality charges by staying invested till Maturity.

 

- Return of Mortality Charges will be excluding any extra Mortality charge & or Goods & Service Tax/any other applicable tax levied on the Mortality charge deducted, subject to changes in tax laws.

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.

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Choose your policy term, premium payment term and premium amount

Choose your life cover

Choose your fund/ strategy to suit your savings need

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Entry Age

Minimum age is 0* year

*In case of a minor life, the risk cover will commence immediately on date of commencement of policy, and the policy will vest on the Life Assured on the attainment of majority (i.e., age 18 years)

Maximum age is 65 years

Maturity Age

Minimum age at maturity 18 years

Maximum age at maturity 75 years

Premium Payment Term /Policy Term

Policy Term (in years)

10 15 20 25 30

Premium Payment Terms (in years)

5 to 7 5 to 10 5 to 15 5 to 20 5 to 25

Minimum Sum Assured

7 times of Annualized Premium

Maximum Sum Assured

Age

Premium multiplier

0-30 years

40 times

31-40 years

30 times

41-45 years

15 times

46-65 years

10 times


Min/ Max top up sum assured: 1.25 times of Top up Premium.

Maximum Sum Assured and Maximum Top-up Sum Assured will be subject to the prevailing Board Approved Underwriting Policy (BAUP)

All the references to age are as on last birthday

Premium Payment Frequency

Yearly, Half Yearly, Quarterly and Monthly

Minimum Premium

Mode

Premium (in ₹)

Annually ₹ 48,000
Half-Yearly ₹ 24,000
Quarterly ₹ 12,000
Monthly ₹ 4,000
Top-up ₹ 5,000

Maximum Premium

As Per Board Approved Underwriting Policy

-Age calculated is age at the last birthday.

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Brochure

Download

Policy Document

Download

Product Presentation

Download
Unit linked Insurance plan are packed with the dual powers of Investment and Insurance. Your ulip offers market linked returns and life cover Applicable charges are premium allocation charges, mortality charges, fund management charges and policy admin charges
Select a ULIP

Pay the premium

Applicable charges levied

Net investable premium

Your money is invested in fund choosen by you

Returns accured in the policy fund value

  • Sample Illustration

Mr. Patil aged 35 years plan to save for his child higher education which is expected in the next 15 years. He decides to pay the premium of ₹ 2.5L for a period of 10 years with policy term of 15 years. The total premium that will be paid by Mr. Patil throughout the policy term will be ₹ 25,00,000.

Mr Patil , 35 years old

Mr Patil invested Mr Patil invested ₹ 2,50,000 Annually for 10 years. On the maturity date, patil would receive maturity benefit as per the table below: Policy Term: 15 years

At Assumed Investment Return* Maturity Benefit
(in ₹)

@8%

₹47,90,121,

@4%

₹31,83,867


 

Above illustration is considering Male aged 35 years | Standard Life | Policy term (PT) - 15 years | Premium Payment Term (PPT) - 10 years | Sum Assured ₹ 25,00,000 | Annual Premium Payment Mode | 
The above illustration is considering investment in – Pure Stock Fund II and Goods and Service Tax @ 18%
*The benefit amounts 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 maturity of the policy, you will receive the fund value including the top-up premium fund value, if any. You have the option to receive the maturity benefit as lumpsum or as a structured payout for a maximum of five years using settlement option.

Death Benefit

In the unfortunate event of Death of Life Assured during the Policy Term, if all due premiums are paid up to date and the policy is in-force, the death benefit will be as below

Higher of Prevailing Sum Assured# or Regular Premium Fund Value

plus

Higher of Top up Sum Assured,or Top up Premium Fund Value

- The death benefit shall not be less than the Guaranteed Benefit**

- All the items mentioned above will be as on the date of intimation. The policy will terminate on the date of intimation of death of the life assured. 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 all future premiums, discounted at 4% p.a., shall also be payable.

- Your nominee will have an option to receive the Death Benefit as a lumpsum or as a structured payout for a maximum of five years using the Settlement Option. If settlement option has been opted for at maturity, then, on death during the settlement period, The death benefit is Higher of Guaranteed Benefit** or Regular Premium Fund Value plus Top-up Premium Fund Value; and the policy will terminate.

Note

**Guaranteed Benefit will be 105% of total premium received under the policy including Top Up premium received upto the date of death.

#The sum assured (chosen by the policyholder) shall be reduced to the extent of any partial withdrawals made from the Regular Premium Fund Value during the two (2) year period immediately preceding the death of the life assured. Sum assured used for the determination of death benefit will be the prevailing sum assured after the latest revision of sum assured and/or premium, if any.

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Why Bajaj Allianz Life Insurance ?

99.23%
Claim Settlement Ratio~
1 Day
Claim Approval%
AAA
CARE Stable Rating$
₹ 1,21,338 Cr
Assets Under Management (AUM)**
4.09 Cr
Number of Lives Covered#
432%
Solvency Ratio of 432%^

Disclaimer:~Individual Death Claim Settlement Ratio for FY 2023-2024 | %96.70% of non-investigative individual claims approved in one working day for FY 2023-24. 1 day is counted from date of intimation of claim before 3 PM on a working day (excluding Non-NAV days for ULIP) at Bajaj Allianz Life offices | $For details refer to press release published by CARE | **All figures as on 31 March 2024 | ^Solvency ratio 432% as at 31 March 2024 against IRDAI mandated 150% | #Individual & Group.

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

2Loyalty additions will be added to the fund value from end of 10th policy year and every year thereafter till the end of policy term.

Please note that the fund aims to replicate the performance of benchmark index fund, subject to tracking error.

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Terms & Conditions

I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) or on National Do Not Call Registry (NDNC), any call made, SMS or WhatsApp sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business

 

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