The Future Gains insurance plan offered by Bajaj Allianz is a unit linked plan that offers policyholders the opportunity to create wealth for the future. It does so by taking the premiums you pay and investing them in the equity and debt markets. It also comes sporting features like flexible premium payment options, choice of various funds, a choice in risk levels to suit each investor’s appetite for risk and much more. It also provides you with the double benefits of a chance to grow your wealth while enjoying the protection provided by a life insurance policy.
Key features of Bajaj Allianz Future Gain insurance policy
Some of the features that this unit linked plan sports are:
- Since it is a unit linked plan your investment gets a better chance at growth through the debt and equity markets.
- The sum assured under this policy will range from 7 to 10 times the annual premium paid.
- The premiums for this policy can be paid monthly, quarterly, half-yearly or annually.
- The policy can be taken for 10, 15, 20 or 30 years.
- You can choose a regular pay or a limited payment option for the premiums.
- The premium that you pay for this policy will range from a minimum of between Rs. 2,500 and Rs. 25,000 to a maximum of Rs 1 lakh to Rs. 12 lakhs based on the frequency of payments.
- It allows for partial withdrawals to be made but only after the 5th year of the policy.
- The policy also allows you to invest more than the premium through top-up premiums.
- After the first 5 years of the policy, you can make partial withdrawals to cater for sudden financial demands that may crop up.
Benefits of Bajaj Allianz Investment Plan - Future Gain
- The maturity benefit offered by the policy is the sum of the fund value as a result of the regular premiums and any top-up premiums that you have paid.
- The death benefits offered is the highest of the sum assured and the fund value added to the highest of top-up premium sum assured and its fund value.
- You have the option to invest in 7 different funds which come with low, medium and high risks.
- When you surrender this policy you can take the benefit in instalments over a period of 5 years.
- You get to choose from the Investor Selectable Portfolio Strategy and the Wheel of Life Portfolio Strategy when you need to decide on how your money is invested.
- You can also expect to get tax benefits under sections 80C and 10(10D) on the premiums and the maturity/death benefits.
- The minimum and maximum ages for entry into this plan are 1 year and 60 years respectively.
- The minimum and maximum maturity ages are 18 years and 70 years respectively.
The eligibility criteria for this policy is based on your age.
This is a plan that is ideal for anyone who is looking to invest money in an instrument where it can grow. It is also an ideal instrument for you to use in case you are planning on big expenses, like a house, in the future.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017