Future Gain | A Unit-linked Endowment Plan | Bajaj Allianz Life Insurance

Bajaj Allianz Future Gain

A Unit-linked Endowment Plan

We all seek opportunities to gain maximum benefits at the lowest cost. When we decide to invest our money, we want every rupee of our hard earned money to be utilized fully for our future gains. Helping the investor in you, we present Bajaj Allianz Future Gain - a Unit-Linked Endowment Plan that provides for maximum premium allocation to make sure that your valuable money is fully utilized towards your dream future.

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SMS LIFE @ 56070

Key Features

  • Maximum premium allocation
  • Choice of 2 investment portfolio strategies
  • Choice of seven (7) funds
  • Option to make partial withdrawals from the funds
  • Option to pay top-up premium
  • Option to decrease sum assured
  • Option to alter premium payment frequency
  • Option to take maturity benefit in installments (Settlement Option)

How Does Your Plan Work

    In Bajaj Allianz Future Gain, the premiums paid by you, after applying the applicable premium allocation rate, are invested as per your chosen portfolio strategy across the various applicable funds. The units are allocated at the prevailing unit price of the fund.

    The mortality charge and policy administration charge are deducted monthly through cancellation of units. Fund management charge is adjusted in the unit price.

Am I Eligible?

  • Entry Age

    1Minimum

    60Maximum

  • Maturity Age

    18Minimum

    70Maximum

  • Minimum Policy Term

    10 years

  • Maximum Policy Term

    The policy term will be as follows
    Premium Paying Term 5 or 6 Other PPTs
    Policy Term 10, 15 to 20 years 10, 15 to 30 years
  • Premium Payment Term (PPT)

    5 to 30 years

  • Minimum Premium
    (Modal Premium)
    Frequency Yearly Half-yearly Quarterly Monthly* Top - up
    Premium (in Rs.) 25,000 12,500 6,500 2,500 5,000

    *Monthly premium payment frequency will be available under salary deduction scheme & ECS.
  • Maximum Premium
    Frequency Yearly Half-yearly Quarterly Monthly
    Premium (in Rs.) 12,00,000 6,00,000 3,00,000 1,00,000

  • Premium Payment Frequency

    Yearly, Half Yearly, Quarterly and Monthly

  • Minimum Sum Assured
    Age Higher of
    Less than 45 years 10 times Annualized Premium 0.5 * Policy term * Annualized Premium
    Greater than or equal to 45 years 7 times Annualized Premium 0.25 * Policy term * Annualized Premium

    For example, for an age less than 45 years and policy term of
    i. 15 years the minimum Sum assured available will be 10 times Annualized Premium
    ii. 22 years the minimum sum assured available will be 11 times of Annualized premium i.e. (0.5*22* Annualized premium)
  • Maximum Sum Assured
    X* Annualized Premium, where X is based on age at entry and Policy term as mentioned below
    Policy Term/ Age at entry 1 - 35 36 - 40 41 - 44 45 - 50 51 & above
    10 & 15 15 15 10 10 Minimum SA
    16-20 15 15 10 Minimum SA Minimum SA
    21-25 15 12.5 Minimum SA Minimum SA NA
    26-30 15 Minimum SA Minimum SA NA NA
  • Minimum & Maximum Sum Assured on Top up Premium
    Age Top-Up Sum Assured Multiplier
    Less than 45 years 1.25 times
    Greater than or equal to 45 years 1.1 times

Age calculated is age as at the last birthday

Policy Benefits and Features

  • Maturity Benefit


    Under Bajaj Allianz Future Gain, the maturity benefit will be the regular premium fund value plus top up premium fund value as on the maturity date, provided the policy is in-force.

  • Surrender Benefit

    You have the option to surrender your policy at anytime.

    • On surrender during the lock-in period of first five years of your policy, the regular premium fund value, less the discontinuance/surrender charge plus the top up premium fund value, if any, as on the date of surrender, will be transferred to the discontinued life policy fund (maintained by the company), and life cover shall cease immediately. The discontinuance value as at the end of the lock-in period will be available to you as surrender value.
    • On surrender after the lock-in period of first five years of your policy, the surrender value available will be regular premium fund value plus top up premium fund value, if any, as on the date of surrender, and will be payable immediately.
    • The policy shall terminate upon payment of the surrender/discontinuance value by the company.

  • Death Benefit

    In case of unfortunate death before the maturity date, provided the ULIP policy is in-force, the death benefit payable to the nominee/ policyholder as a lump-sum is:

    • 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;

    All the above as on date of receipt of intimation of death The death benefit is subject to the guaranteed death benefit, which is 105% of the total premiums paid including top-up premiums paid, if any, till the date of death.

    • If death of the life assured occurs before attaining age 60 years, then, the sum assured shall be reduced to the extent of any partial withdrawals made from the regular premium fund during the two year period immediately preceding the date of 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 ofthe 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.
    • The partial withdrawal made from the top up premium fund shall not be deducted for this purpose

Sample illustration

  • Harsh aged 35 years has taken a Bajaj Allianz Future Gain policy for a Policy Term (PT) of 24 years. Harsh has decided to pay Rs. 50,000 as annual premium for a premium payment term of 20 years. The Sum Assured chosen by him is Rs. 7,00,000. Harsh will receive Rs. 25,27,222# (the regular premium fund value) on maturity.

      Sample illustration Future Gain
    • In case of Harsh's unfortunate death in, say, the 14 policy year, his nominee will receive Rs. 11,00,380
    • Sample illustration Future Gain
      Investment Return Maturity Benefit Death Benefit
      @8% Rs. 25,27,222 Rs. 11,00, 380
      @4% Rs. 13,86,307 Rs. 8,08,069

      #The above illustrations are at 8% investment return and considering investment is in the "Asset Allocation Fund II" and Service Tax - 14%.

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

      For more details, please refer to the brochure

Portfolio Strategies

  • Bajaj Allianz Future Gain provides the policy holder with two portfolio strategies, which can be chosen at the inception of the policy or on any subsequent policy anniversary
    • Investor Selectable Portfolio Strategy
    • Wheel of Life Portfolio Strategy

    Investor Selectable Portfolio Strategy - If the policyholder want to allocate the premiums based on his/ her personal choice and decision, the policyholder can opt for this strategy and choose from among the seven (7) funds below to suit his/ her investment needs.

    Wheel of Life Portfolio Strategy - provides the policyholder with a "Years to maturity" based portfolio management. Under this strategy, on each policy anniversary, fund value among various funds (as per the below table) in the proportion based on the outstanding years to maturity are allocated/ reallocated.

Charges under the Plan

  • Charges Details
    Premium Allocation Charge
    Annualized Premium/ Policy Year 1 2-5 6 and above
    25,000 to 99,999 5.50% 3.75% 0%
    100,000 to 199,999 2.50% 1.75% 0%
    200,000 and above 0% 0% 0%
    All Top ups have a premium allocation charge of 2%
    Policy Administration Charge Rs.33.33 per month inflating at 5% per annum every month. The charge will be deducted at each monthly anniversary by cancellation of units at prevailing unit price
    Fund Management Charge (FMC)
    Fund Fund Management Charge per annum
    Equity Growth Fund II 1.35%
    Accelerator Mid Cap Fund II 1.35%
    Pure Stock Fund 1.35%
    Asset Allocation Fund II 1.25%
    Bluechip Equity Fund 1.25%
    Liquid Fund 0.95%
    Bond Fund 0.95%
    Discontinued Life Policy Fund
    0.50%
    This charge would be adjusted in the unit price
    Miscellaneous Charge A miscellaneous charge of Rs. 100/- per transaction in respect of alteration of premium mode, alteration of premium apportionment, change in premium paying term or decrease in sum assured shall be charged.
    Discontinuance Charge
    Where the policy is discontinued during the policy year Discontinuance charge for the policies having annualized premium up to Rs. 25000/- Discontinuance charge for the policies having annualized premium above Rs. 25000/-
    1 Lower of 20% * (AP or FV) subject to maxi - mum of Rs.3,000 Lower of 6% * (AP or FV) subject to maximum of Rs.6,000
    2 Lower of 15% * (AP or FV) subject to maxi - mum of Rs.2,000 Lower of 4% * (AP or FV) subject to maximum of Rs. 5,000
    3 Lower of 10% * (AP or FV) subject to maxi - mum of Rs.1,500 Lower of 3% * (AP or FV) subject to maximum of Rs. 4,000
    4 Lower of 5% * (AP or FV) subject to maxi - mum of Rs.1,000 Lower of 2% * (AP or FV) subject to maximum of Rs.2,000
    5 and above Nil Nil

    AP - Annualized Premium & FV - Regular Premium Fund Value Discontinuance Charge for top ups is Nil.
    Mortality Charge Mortality Charge will be deducted at each monthly anniversary by cancellation of units. Female life assured will be eligible for an age-set-back of 3 years. For sub-standard lives, including smokers, extra mortality charge will be applicable which will be deducted as charges by cancellation of units. Sample mortality charges per annum per thousand of sum at risk for a healthy male life is shown below:
    Age (yrs) 20 30 40 50
    Rs. 1.13 1.34 2.35 6.52
    Sum at risk is equal to Maximum of [death benefit - regular premium fund value - top up premium fund value, zero]
    Service Tax As applicable on all Charges mentioned above

Bajaj Allianz Future Gain (UIN:116L124V01)

For more details, please refer to the Brochure and Policy Document

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For more details on the risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.

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Tax Benefits

Premium paid are eligible for tax benefits under section 80C of the Income Tax Act and Maturity benefit,death benefit and Surrender value are eligible for tax benefits under Section 10(10D) of the Income Tax Act, subject to the provision stated therein.

Download Brochure
17 pages - 531 Kb
Download Policy Document
15 pages - 245 Kb

Claim Assistance

For more information Click here

*Life Insurance Claims settled as FY 2015-16

Disclaimer: 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) under either Fully or Partially Blocked category, any call made or SMS 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.

Disclaimer: Insurance is the subject of the solicitation. For more details about risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. The terms and conditions of product/plan as contained in the Policy Document issued by the Company is available on the Web Site. Please note that the name of the Bajaj Allianz product/plan does not indicate the quality of the insurance contract and its future prospects or returns. Investment in ULIPs is subject to market risks associated with capital markets. IN ULIPs, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. Tax benefits are as per the prevailing Income Tax Laws including the Income Tax Act, 1961 and are subject to change from time to time. Service tax and education cess will have to be borne by the Policyholder as per applicable rates. All other charges shall be levied in accordance with the terms and conditions of the policy.