Bajaj Allianz Future Wealth Gain

investment

Bajaj Allianz Future Wealth Gain is a Unit Linked Endowment Plan which ensures maximising of your wealth on maturity and provides life cover to ensure financial shield to your family in your absence. The plan provides the flexibility to invest in a variety of options to get market linked benefits and achieve all the goals set by you for your family. The plan comes with 2 different variants, 2 premium payment options, and multiple policy terms.

The plan also provides a free-look period during which you can cancel the policy, if dissatisfied with its terms and conditions, within 15 days if the policy is purchased offline and within 30 days from its receipt if the purchase is made online. On such cancellation, the premium paid will be refunded after deduction of proportionate risk premium, medical examination charges, and stamp duty charges.

Best Features of Bajaj Allianz Future Wealth Gain 

Below mentioned are best features of Bajaj Allianz Future Wealth Gain which sets its apart from its alternatives:

  • Fund Options: The plan comes with 8 different fund options, you can opt for the best suiting your investment style.
  • Loyalty Additions: Loyalty Additions are made to the fund value at each interval of 5 years starting from the 10 th policy year.
  • Fund Boosters:  Fund Booster is added to the Regular Premium Fund at the time of the maturity of the policy.
  • Premium Payment Frequency: The premium can be paid monthly, half-yearly, quarterly, and yearly.
  • Rider Benefits:  There are 3 rider benefit options available to widen the plan coverage.
  • Regular Premium Reduction Option: After completion of the first 5 years of the policy, the investor has the option to reduce the regular premium.
  • Top-Up Premium Option:  Lump sum investments can be made after exercising the Top-Up premium option.  

Benefits of Bajaj Allianz Future Wealth Gain 

Bajaj Allianz Future Wealth Gain offers various benefits, which are as followed:

  1. Death Benefit: In case of death of the life assured, the benefit is payable as sum assured plus top-up assured (if any) or fund value or guaranteed death benefit, whichever is highest among the 3 payouts.
  2. Surrender Benefit 

If the investor decides to surrender the benefit before lock-in period, then the fund value less the surrender charge as on the date of surrender, will be transferred to the discontinued life policy fund, after the end of lock-in period this fund value will be paid immediately to the investor.

If the investor surrenders after the lock-in period ends, the surrender benefit will be the Fund Value at that time and will be paid immediately. 

  1. Maturity Benefit 

On the maturity of the policy, the investor receives the sum of Regular Premium Fund Value and Top-Up Premium Fund Value (if any).

  1. Loyalty Additions 

Company adds loyalty additions to the fund value at the end of the 5th   policy year starting from the 10th  policy year.

  1. Fund Booster

Fund Boosters are added to the Regular Premium Fund Value at the maturity to maximise your wealth. The fund boosters are based on the % of one annualised premium chosen at the inception of the policy and the premium payment term.

Bajaj Allianz Future Wealth Gain is available in 2 variants - Wealth Plus Option and Wealth Plus Care Option. In addition to the above-mentioned benefits, the variant specific benefits under the plan are as follows: 

  1. Wealth Plus Option

This variant offers the following benefit - 

  • Rider Benefit -  Under this variant, 3 rider options are available namely Accidental Death Benefit Rider, Accidental Permanent Total/Partial Disability Benefit Rider, and Waiver of Premium Benefit Rider.
  1. Wealth Plus Care Option

Under this variant the following benefits are available:

  • Income Benefit-  Under this variant, an income benefit is paid at death due to or first diagnosis of cancer. The prevailing regular premiums are paid as income benefit in installments provided death or first diagnosis of cancer occurs during the premium payment term.
  • Rider Benefit -  Under this variant, 2 rider options are available namely Accidental Death Benefit Rider and Accidental Permanent Total/Partial Disability Benefit Rider.

Bajaj Allianz Future Wealth Gain Eligibility

Eligibility Criteria for the different variants of Bajaj Allianz Future Wealth Gain 

Wealth Plus

Wealth Plus Care

Minimum Age at Entry


 

0 Years

18 Years

Maximum Age at Entry


 

  • 60 Years
  • 50 years If more than one rider is opted
  • 53 years if premium payment term is a combination of 10 / 5 years
  •  55 years for all other policy term combinations
  • 50 years If more than one rider is opted

Minimum Age at Maturity


 

18 Years

28 Years

Maximum Age at Maturity


 

75 Years

70 Years

Policy Term

10-25 Years

Premium Payment Term

For 10 year policy term - 5,7,10 years

For 15-25 year policy term - 5,7,10,15 years

Premium Payment Frequency

Yearly, Half Yearly, Quarterly, and Monthly

Basic Sum Assured

10 times of annualised premium

Min & Max 

Top-up Sum Assured

125% of top-up premium

Bajaj Allianz Future Gain  Wealth Fund Options

Bajaj Allianz Future Wealth Gain comes with 2 unique portfolio strategies namely Investor Selectable Portfolio Strategy and Wheel of Life Portfolio Strategy. The strategy can be selected at the time of  inception of the policy or at the anniversary of the same. 

  1. Investor Selectable Portfolio Strategy - Under this strategy, the investor has a choice of allocating the premium among the following 8 fund options:

Fund Name

Asset Class


 

 


 

Money market                             Bank Deposits                                   Equity                               

Instruments, cash             

and deposits,    

liquid mutual                    

funds

 


 

Fund Composition

Risk and Return Rating

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 II 

0%-25%

-

Not less than 75%

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 

  1. Wheel of Life Portfolio Strategy:  Under this strategy, the premiums are allocated by the insurance company on the basis of the outstanding years to maturity. The strategy aims to strike a balance between the years of maturity and risk involved. 

The premium will be allocated to the funds in the following manner: 

Years to Maturity

Proportion in following three funds in %

 


 

Bluechip                       Equity Growth          Accelerator Mid-             Total 

 Equity fund                    Fund II                         Cap Fund II


 

Bond Fund

Liquid Fund

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 Wealth Gain Review

Bajaj Allianz Future Wealth Gain aims to maximise your wealth along with providing a life risk cover to protect your family during uncertain times. The plan offers various benefits like death benefit, maturity benefit, optional riders, top-up, etc., with the flexibility to choose from 8 alternate fund options. Different features like loyalty additions and fund boosters make this policy a favourable pick among its counterparts. The plan further offers flexibility to the investor by being available in 2 variants namely Wealth Plus and Wealth Plus Care. Under its Wealth Plus Care variant, you get a Cancer Cover in the form of income benefit.

Moreover, the plan offers multiple Rider Benefits to ensure total protection to you and your family. Bajaj Allianz Future Wealth Gain comes with a grace period of 30 days (15 days if monthly premium mode is chosen) in case the investor fails to pay the due premium on time.  If the investor fails to pay during the grace period, the policy lapses. The revival of the discontinued policy can be done under 3 years from the first unpaid premium. People who are looking for a ULIP with income benefit and multiple fund options can consider this plan. 

Bajaj Allianz Future Wealth Gain Frequently Asked Questions (FAQs)
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  • Paytm Insurance Broking Private Limited. Address: 136, 1st Floor, Devika Tower, Nehru Place, NEW DELHI, South Delhi, Delhi, India, 110019
  • Registration No. 700. Valid till 16/02/2023
  • CIN - U66000DL2019PTC355671