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Bajaj Allianz Fortune Gain

Bajaj Allianz Fortune Gain is a non-participating single unit linked single premium endowment plan offered by Bajaj Allianz. It offers up to 99.5% of premium allocation to ensure that your investment is fully utilised. This plan provides benefits for the investment made. It also ensures that the deduction in charges are minimum.

Key features:

Listed below are the features of Bajaj Allianz Fortune Gain.

  • It is a non-participating unit linked single premium endowment plan
  • 99.5% premium allocation for single premium of 10 lakh and above
  • The plan offers 7 types of funds
  • Loyalty Additions of 3% of the single premium depending on the single premium & policy term chosen
  • Option to decrease sum assured
  • Top ups are allowed in this policy
  • The plan offers the option of switching between funds to manage your investments better
  • Option to obtain maturity benefit in installments

Benefits:

  • Death benefit-A lump sum amount will be paid to the nominee in case of unfortunate death of the insured.
  • Maturity benefit- The maturity benefit paid on the maturity date includes the single premium fund value plus top up premium fund value.
  • Loyalty addition-The insured will get loyalty additions on the policy for a premium above Rs.10,000 for a policy term between 10 to 30 years.
  • Surrender benefit- On surrendering the policy after the lock in period of 5 years, the insured will still avail the single premium fund value plus the top up premium fund value.
  • Claw back additions- Non negative additions will be added to single premium fund value in order to meet the maximum reduction in yield criteria.
  • Switching option- The fund offers systematic switching option that ensures that you earn the best from your investments.
  • Tax benefits- The plan offers tax benefits under section 80C and section 10D under the Income Tax Act.
  • Decrease in sum assured- The insured has the option of reducing the single premium sum assured after the first policy year.
  • 7 types of funds to choose from:
    1. Equity growth fund
    2. Accelerator midcap fund
    3. Pure stock fund
    4. Asset Allocation fund
    5. Blue Chip Equity fund
    6. Bond fund
    7. Liquid fund

Eligibility Criteria:

  • Age:Minimum- 1 year
    Maximum- 63 years
  • Maturity age: Minimum- 18 years
    Maximum- 70 years
  • Policy term: 7 to 30 years
  • Premium Payment frequency: Single
  • Sum assured: 1.25 times single premium if age is less than 45 years
    times single premium if age is more than 45 years

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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