Bajaj Allianz Life Future Wealth Gain

Choosing the right investment is a crucial step towards the fulfilment of financial goals that you have set for your future. Among the many investments that are available in the market, ULIPs have been one of the most popular for a variety of reasons. Unit-linked insurance plans or ULIPs combine the benefit of life cover with capital growth, while allowing the investor the flexibility to choose from a variety of fund options like equity funds, debt funds, money market funds, hybrid funds, etc. If you are looking for a unique and feature-rich ULIP to invest in, then Bajaj Allianz Life Insurance has just the right plan for you. Presenting the Bajaj Allianz Life Future Wealth Gain, which is a unit-linked, non-participating, endowment plan with a limited and regular premium payment option. This plan is available in two variants - Wealth Plus and Wealth Plus Care.

Advantages of Bajaj Allianz Life Future Wealth Gain

• High sum assured -

With the Future Wealth Gain, you can avail the benefit of getting a high amount of sum assured which will ensure that your loved ones are financially secure if and when misfortune strikes.

• Accelerated Cancer Cover & Income Benefit –

The Wealth Plus Care variant of this plan comes with an Accelerated Cancer Cover (which kicks in if the policyholder is diagnosed with cancer) and also an Income Benefit (which is provided if the policyholder dies or is diagnosed with cancer within the premium payment term).

• 2 portfolio strategies –

At the time of policy inception, policyholders can choose between 2 portfolio strategies – Investor Selectable portfolio strategy and Wheel of Life portfolio strategy.

• Loyalty Additions –

From the 10th policy year onwards, policyholders will be entitled to Loyalty Additions (percentage of the annualized premium) at the end of every 5th policy year.

• Fund Booster -

Policyholders also have the option to enhance their fund value upon maturity by adding Fund Boosters.

• Settlement option –

Policyholders can choose to get their maturity benefit in instalments using the settlement option. The benefit will be paid for a period of 5 years on a monthly, quarterly, semi-annual, or annual basis.

• Multiple policy terms –

This plan comes with a range of policy terms which you can choose from as per your needs and requirements.

Bajaj Allianz Life Future Wealth Gain - Wealth Plus

Eligibility

Benefit Payable

• Maturity Benefit – Once the plan has reached its maturity date, the policyholder will be entitled to the Regular Premium Fund Value + Top-up Premium Fund Value.
• Death Benefit – If the insured policyholder passes away before the end of the policy term, and on the condition that all due premiums have been paid, the death benefit will be paid to the nominee. The death benefit amount shall be the higher of (i) sum assured + top-up sum assured (if any), or, (ii) policy fund value as on the day when the intimation about death is received by the insurer.

Add-on Riders

Under the Wealth Plus variant, policyholders can choose from a range of add-on riders. These include Bajaj Allianz ULIP Accidental Death Benefit Rider, Bajaj Allianz ULIP Accidental Permanent Total/Partial Disability Benefit Rider, and the Bajaj Allianz ULIP Waiver of Premium Benefit Rider. Premiums for these riders will be charged over and above the premiums for the base plan.

Bajaj Allianz Life Future Wealth Gain - Wealth Plus Care

Eligibility

Benefits Payable

• Death Benefit – The death benefit under the policy will be payable, subject to payment of all due premiums, if the insured policyholder is diagnosed with cancer (subject to the waiting period) for the first time, or passes away before the end of the policy term. The death benefit in this case shall be either (i) the sum assured + top-up sum assured (if any), or, (ii) the policy’s fund value on the date of intimation of the policyholder’s demise, whichever is greater.
• Maturity Benefit – Once the plan matures, the insured policyholder will be entitled to the top-up premium fund value + regular premium fund value.
• Income Benefit – This is an additional benefit which will be payable if the policyholder is first diagnosed with cancer (subject to a waiting period) or passes away during the policy’s premium payment term.

• The benefit amount will be equal to the sum of all regular policy premiums which will be pending after the date of cancer diagnosis or death, whichever is applicable.
• Amount paid under each Income Benefit instalment will be equal to amount of one regular policy premium.
• The Income Benefit will be paid, following first diagnosis of cancer or death, to the policyholder/nominee on the due premium payment date for the remainder of the premium payment term.
• This benefit will paid only for policies which are still in-force. It will not be payable if the policy has been discontinued or acquired a paid-up status.
• If the policyholder is first diagnosed with cancer or passes away during the premium payment term, the Income Benefit will not be payable.

Add-on Riders

Under the Wealth Plus Care variant, there are 2 add-on rider options available which policyholders can attach to their base plan. These are the Bajaj Allianz ULIP Accidental Death Benefit Rider and the Bajaj Allianz ULIP Accidental Permanent Total/Partial Disability Benefit Rider.

Features of Bajaj Allianz Life Future Wealth Gain

About Bajaj Allianz Life Insurance

Established in 2001, Bajaj Allianz is a joint venture between India’s Bajaj Finserv Limited and Allianz SE, a Europe-based financial services company. As one of the leading insurance providers in the Indian insurance space, Bajaj Allianz works with the aim of providing people with affordable and efficient insurance products.