Bajaj Allianz Life Insurance has launched Future Wealth Gain, a unit-linked endowment plan which comes in two variants – Wealth Plus and Wealth Plus Care. Bajaj Allianz Life Insurance is one of the leading private life insurers in the country. The company is targeting customers with their unique products for catering to the needs of the investors throughout the different stages in their lives while factoring in the cost of life-threatening disease such as cancer. #InvestBefikar #JiyoBefikar
Bajaj Allianz Life Future Wealth Gain is a non-participating ULIP (Unit Linked Insurance Plan) with a regular and limited premium payment option. It offers customers the flexibility in choosing from eight different funds encompassing both debt and equity asset classes for the purpose of investment. The launch happens together with Bajaj Allianz Life Insurance’s feat of crossing INR 50,000 crore AUM (Asset under Management). #BajajAllianzLifeInsurance #FutureWealthGain
The insurance plan aims at maximizing the wealth of the investor by investing the funds in the capital markets to assist the investor in achieving their financial goals, further offering protection for themselves and their loved ones.
With respect to maturity benefit, an investor would get the Fund Value together with the top-up premium fund value, if any as on the date of maturity, plus Loyalty Additions. This Loyalty Addition assists the investor in receiving higher returns, as it offers upto 90% of his one year’s premium for a term of 25 years which is payable every five years, commencing from tenth policy year.
For enhancing the fund value, this insurance plan also provides Fund Boosters which would be added to the regular premium Fund Value at the time of maturity once all premiums are paid and policy continues to be in force. If the premium payment term and policy term exceeds 15 years, returns from the fund booster could be as high as 90 percent of one year’s premium.
‘Wealth Plus variant’ offers Death Benefit which includes:
- The higher of the Sum Assured, plus Top-up Sum Assured, if any, or
- Fund value, as on the date of receipt of intimation of death,
The Death Benefit in this variant guarantees benefit of 105 percent of the premiums paid together with the top up premiums paid till the date of death, if any.
The second variant, the ‘’Wealth Plus Care Variant’’, together with the Death Benefit, entitles the insured to an Income Benefit which is payable on death or on the first finding of Cancer during his premium payment term. The Income Benefit is the outstanding premiums which are due after the death or the diagnosis of cancer.
The minimum premium under the Future Wealth Gain plan is INR 50,000 yearly and the maximum term of the policy is capped at 25 years with 5 years as the minimum premium payment term.
Along with the insurance product, the Bajaj Allianz Life Insurance has also launched Pure Stock Fund II, a new fund distinct from its other seven fund options which were already available for the Investor’s portfolio. The plan also offers an option of receiving the maturity benefits in easy installments (Settlement Option) for a maximum period of five years.
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