Bajaj Allianz Future Gain
Bajaj Allianz Future Gain is a Non-Participating Unit-linked Endowment Plan which ensures that your hard-earned money reaps the maximum gain. Its maximum premium allocation in funds is to increase your fund value overtime. The Investor is offered 7 alternate fund options and choice of 2 investment portfolio strategies. The plan offers 5 rider options with which the investor can further enhance the coverage of the plan.
The plan also provides a free-look period where you can cancel the policy within 15 days in case of offline mode and 30 days if policy is purchased online from its receipt. If you do not agree with the terms and conditions, you can cancel the policy during this free-look period. On the policy cancellation, the premium paid will be refunded after deducting some charges levied by the company such as proportionate risk premium for the covered period, medical examination charges, and stamp duty charges, etc.
Best Features of Bajaj Allianz Future Gain
Following are the best features of Bajaj Allianz Future Gain which makes it distinctive from its counterparts:
- Fund Options: The plan comes with 7 different fund options, which can be switched freely unlimited times.
- Premium Payment Frequency: The premium can be paid monthly, half- yearly, quarterly, and yearly.
- Top-up Premium Option: The investor can increase the investment by paying additional amount over and above the regular or limited premium amount.
- Premium Payment Options: The plan provides the flexibility to choose from 2 premium payment options- regular pay and limited pay.
- Rider Benefits: Bajaj Allianz Future Gain offers 5 different rider options which can be selected at the time of policy inception.
- Sum Assured Reduction Option: The plan gives you an option to decrease the sum assured under the base policy.
- Premium Reduction Option: The plan offers the option to reduce the regular or limited premium after the first 5 years of the policy.
- Policy Revival: The discontinued policy can be revived within 3 consecutive years from the date of first unpaid premium.
Benefits of Bajaj Allianz Future Gain
Bajaj Allianz Future Gain offers various benefits, which are as followed:
- Maturity Benefit
On the maturity of the active policy, the maturity benefit will be the Regular Premium Fund Value and Top-Up Premium Fund Value available on the maturity date.
- Death Benefit
In case the investor dies within the term of the policy, then the death benefit is payable as lump sum in the following ways:
- The higher of pre-decided sum assured or Premium Fund value and
- The higher of Top-Up sum Premium assured or Top-Up Premium Fund Value.
If the ‘Guaranteed Death Benefit’ i.e. 105% of the total premiums paid till the date of death is higher than the above benefits, then the same is payable to the nominee.
- Surrender Benefit
If you want to surrender or discontinue the policy before the maturity then the surrender benefit is payable as:
- If the surrender is during the lock-in period then, the Regular Premium Fund Value minus surrender charges plus Top-Up Premium Value (if any ) will be transferred to the Discontinued Life Policy Fund. The discontinuance value at the end of the lock-in period will be payable to the investor as Surrender Benefit.
- If the policy is surrendered after the lock-in period, the Regular Premium Fund Value plus Top-Up Premium Value (if any ) as on the date of surrender will be paid to the investor.
After the payment of the surrender benefit, the policy will terminate and there will be no accrued benefits.
- Rider Benefits
Bajaj Allianz Future Gain offers the following 5 additional riders to increase the life cover protection during uncertain times:
- Accidental Death Benefit Rider
- Accidental Permanent Total or Partial Disability Benefit Rider
- Critical Illness Benefit Rider
- Family Income Benefit Rider
- Waiver of Premium Benefit Rider
Bajaj Allianz Future Gain Eligibility
| Eligibility Criteria for the Bajaj Allianz Future Gain | Bajaj Allianz Future Gain |
| Minimum Age at Entry (years) | 1 Year |
| Maximum Age at Entry (years) | 60 Years |
| Minimum Age at Maturity (years) | 18 Years |
| Maximum Age at Maturity (years) | 70 Years |
| Policy Term | Min 10 Years to Max 30 Years (based on PPT) |
| Premium Payment Term (PPT) | 5 Years to 30 Years |
| Premium Payment Frequency | Annual, Half-Yearly , Quarterly, and Monthly |
| Basic Sum Assured | Less than 45 years- 10 times annualised premium Greater than or equal to 45- 7 times annualised premium |
Min & Max Top-up Sum Assured | For below 45 years of age: 1.25 times of top-up premium For 45 years of age and above: 1.1 times of top-up premium |
Bajaj Allianz Future Gain Fund Options
The plan comes with 2 unique portfolio strategies namely Investor Selectable Portfolio Strategy and Wheel of Life Portfolio Strategy. The portfolio strategy can be selected at the time of inception of the policy or at the anniversary of the same.
Investor Selectable Portfolio Strategy - Under this strategy, you can allocate the premiums as per your choice among the following 7 fund options:
| Fund Name | Asset Class | Risk and Return Rating | ||
| Money Market Instruments, Cash and Deposits, Liquid Mutual Funds | Bank Deposits | Equity | ||
Fund Composition | ||||
| Equity Growth Fund II | 0%-40% | 0%-40% | Not less than 60% | Very High |
| Accelerator Mid-Cap Fund II | 0%-40% | 0%-40% | Not less than 60% | Very High |
| Pure Stock Fund | 0%-40% | 0%-40% | Not less than 60% | Very High |
| Asset Allocation Fund II | 0%-50% | 0%-60% | 40%-90% | High |
| Bluechip Equity Fund | 0%-40% | 0%-40% | Not less than 60% | High |
| Bond Fund | 0%-60% | 40%-100% | - | Moderate |
| Liquid Fund | - | 100% | - | Low |
Wheel of Life Portfolio Strategy: Under this strategy, Bajaj Allianz Life Insurance will allocate your premiums to various funds basis the outstanding years to maturity. This strategy aims to maintain a balance between your years to maturity and risk level of your investments, to help you earn maximum returns.
The premiums will be allocated to the funds in the following manner:
| Fund Name | Proportion in following 3 funds in % | Bond fund (%) | Liquid Fund(%) | |||
| Bluechip Mid Cap Fund II | Equity Growth Accelerator | Total Equity Fund | Fund II | |||
| 20 and above | 20 | 50 | 30 | 100 | 0 | 0 |
| 19 | 30 | 50 | 20 | 100 | 0 | 0 |
| 18 | 30 | 50 | 20 | 100 | 0 | 0 |
| 17 | 30 | 50 | 20 | 100 | 0 | 0 |
| 16 | 30 | 50 | 15 | 100 | 0 | 0 |
| 15 | 40 | 40 | 10 | 95 | 5 | 0 |
| 14 | 40 | 40 | 5 | 90 | 10 | 0 |
| 13 | 40 | 40 | 0 | 85 | 15 | 0 |
| 12 | 40 | 40 | 0 | 80 | 20 | 0 |
| 11 | 40 | 35 | 0 | 75 | 25 | 0 |
| 10 | 40 | 30 | 0 | 70 | 30 | 0 |
| 9 | 40 | 25 | 0 | 65 | 35 | 0 |
| 8 | 40 | 20 | 0 | 60 | 40 | 0 |
| 7 | 40 | 15 | 0 | 55 | 45 | 0 |
| 6 | 40 | 10 | 0 | 50 | 50 | 0 |
| 5 | 40 | 5 | 0 | 40 | 55 | 5 |
| 4 | 30 | 0 | 0 | 30 | 60 | 10 |
| 3 | 20 | 0 | 0 | 20 | 65 | 15 |
| 2 | 10 | 0 | 0 | 10 | 70 | 20 |
| 1 | 0 | 0 | 0 | 0 | 80 | 20 |
Bajaj Allianz Future Gain Review
Bajaj Allianz Future Gain is a cost effective investment plan which focuses on boosting your funds along with ensuring protection for your life with its death benefit. One of the unique features of the plan is its portfolio strategy option wherein it allows the investors to either personally choose how the premiums are allocated to as many as 7 fund options or let the insurance company do the allocation to the funds depending upon the years to maturity. The other notable features of this plan are partial withdrawal, option to switch between funds, and top-up premium.
The plan provides enough flexibility to the investors by offering various premium paying frequencies and methods. Bajaj Allianz Future Gain also provides a grace period of 30 days (15 days if monthly mode is chosen) to the investor in case the due premiums are not made in time. If the premium is not paid even during the grace period, the policy discontinues. However, the policy can be revived till 3 years from the first unpaid premium. People who are looking for a flexible and customisable ULIP to increase their wealth can shortlist this plan.
Bajaj Allianz Future Gain Frequently Asked Questions (FAQs)
1. What is the minimum and maximum amount for a partial withdrawal?
The option of partial withdrawal is only after lock-in period ends. The minimum amount to make a partial withdrawal under Bajaj Allianz Future Gain is INR 5,000 and the maximum withdrawal at any one time is 10% of the total premiums paid till date.
2. What is the lock-in period under this plan?
Bajaj Allianz Future Gain comes with a lock-in period of 5 years.
3. Can I change my Premium Paying Term in between the policy term?
If you have paid all the due premiums till the date of such request, you can change the Premium Paying Term in between the plan provided that the term chosen is available under the policy.
4. What is the settlement option for the death and maturity benefit under the policy?
The settlement of death benefit and maturity benefit can be paid in installments (yearly, quarterly, half-yearly, and monthly) over a period of 5 years.
5. Can I switch my fund options in between the policy?
Yes, Bajaj Allianz Future Gain gives you the flexibility to switch your fund option under the Investor Selectable Portfolio strategy as per your risk management and investment decisions.
6. What happens when I surrender the plan after the lock-in period?
If you wish to surrender the policy after the lock-in period, then the surrender benefit of regular premium fund value and top-up premium fund value (if any ) will be paid to you.
