Everything You Must Know About Bajaj Future Gain Plan

Bajaj Future Gain Plan not only helps the economy for you but also includes life insurance. The plan offers a variety of fantastic investing alternatives, including flexible premium forms of payment, risk appetite-based alternative investments, and more. The plan provides a look-out period where you can cancel the policy within 15 days of the start in case of offline and 30 days in case of online. After cancelling the policy, all the amount will be refunded after deducting some charges such as medical charges, stamp duty charges etc.

Bajaj Allianz Future Gain Plan

The Bajaj Allianz Future Gain has the following characteristics:

• Two investing portfolio techniques are included in the plan.
• It provides a large number of investing options.
• Altering the frequency of premium payments or lowering the amount guaranteed are both flexible possibilities.
• It gives you the option of receiving your maturity benefit in monthly instalments.
• Riders are available to improve your protection and maximize the value of your plan.
• The plan allows for partial withdrawals after 5 years for any liquidity needs.

Everything You Must Know About The Bajaj Future Gain Plan

Below is everything you must know about the Bajaj Allianz Life Future Wealth Gain Plan:

1. Maturity Benefit

The premium service fund amount plus the top-up payment fund amount as of the maturity date is the maturity benefit within Bajaj Allianz Future Gain. It is necessary for the insurance to be strong in order to get the maturity premium.

Must Read: What Are The Various ULIP Charges You Should Be Aware Of?

2. Surrender Benefit

You can terminate your policy at any moment. You can quit the insurance at any moment throughout the tax policy term. When insurance is surrendered during the lock-in term, the regular premium fund amount plus the top-up premium cash value is moved to the terminated policy fund, less the discontinuation or surrender charge. The surrender price will be reimbursed after the lock-in period has ended. The life insurance coverage will expire as soon as the policy is surrendered.

3. Death Benefit

If somehow the client dies within the policy's duration and the plan is still effective, a lump sum death reward will be paid immediately. The greater the amount assured or premium service fund value, plus the higher the top-up premium sum assured or top-up fund value, if any, will be the death benefit. 

The guaranteed death benefit is equal to 105 per cent of the total premiums paid, plus any additional premiums paid to the date of death. If the life promised dies before reaching the age of 60, all partial withdrawals made in the two years leading up to the date of death of the life assured would be deducted from the sum assured.

When a person dies upon reaching the age of 60, the sum assured will be decreased by any incomplete withdrawals taken during two years before reaching the age of 60, as well as all distributions from the regular premium fund after reaching the age of 60. The death benefit will not be reduced if a partial withdrawal is taken from the top premium.

4. Revival Period

Within two years of the policy's cancellation, the policy can be reinstated.

5. Free Look Period

For insurance acquired through indirect advertising, the policy provides a 15 or 30-day free look period. If the customer is dissatisfied with any of the policy's terms and conditions, they can return the insurance to the company and receive a refund of the premium paid, less any applicable penalties.

6. Grace Period

The waiting period for premium payment is 15 days if you pay monthly, and 30 days if you pay every other month.

7. Surrender Value

In terms of the policy, the insurance can be relinquished at any moment. The policy has a five-year lock-in duration. When a policy is surrendered during the lock-in term, the regular premium fund value plus the top-up premium fund value is transferred to the discontinued policy fund, less the discontinuation or surrender charge. The surrender value will be paid after the lock-in period has ended. The life insurance coverage will expire as soon as the policy is surrendered.

Conclusion

With a selection of 7 various funds, fixed payment choices, and settlement benefit options, the Bajaj Allianz Future Gain ULIP has been wonderfully constructed to give consumers versatile investing alternatives. The plan not only helps you increase your money but also provides you with important life insurance.

Overall, if you want a single investment program for wealth accumulation and life insurance, this plan is a solid choice.

Also Read: Know Everything About Tax Benefits Of ULIPs

Disclaimer: This article is issued in the general public interest and is meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.