Bajaj Allianz Fortune Gain – Key Features
Single Pay option of premium payment
Loyalty Additions at the policy term end
Below are the 7 funds are available for investment
Accelerator Mid-cap Fund II
Asset Allocator Fund II
Equity Growth Fund II
Pure Stock Fund
Blue Chip Equity Fund
Bajaj Allianz Fortune Gain – Product Specification:
Bajaj Allianz Fortune Gain – Policy Details
Grace Period: If the insured fails to pay his premium within the premium due date then he is allowed a grace period of 15 days for monthly premium payment mode and 30 days grace period in case of annual premium payment mode, failure to which the policy shall lapse.
Policy termination or Surrender Benefit: On completion of 5 years the plan enables a surrender value with its plan. If the insured surrenders his plan before completing 5 years with his plan then his Net Fund Value after deducting discontinuation charges shall be credited to his linked discontinued policy fund with a yearly 4% growth. If the insured surrenders his plan after completing 5 years, then the complete fund value as on the surrender date is paid to the insured with no additional charges applicable.
Free Look Period: In case the insured is not satisfied with his plan benefits or terms and conditions, then he has the option to cancel his plan within 15 days of plan inception, given that no claims have been done yet.
Partial Withdrawals: Every year after completing 5 plan years, partial withdrawals are allowed with a minimum value of Rs.5, 000.
Free Switches: Every year unlimited free switches are allowed to switch between funds
Premium Redirections: Every year redirecting future premiums is allowed into another fund
Top-up premiums: To increase the fund value top up premiums can be paid to increase the fund value with a minimum of Rs.5000
Below are the documents which are required to be insured under Bajaj Allianz Fortune Gain Plan:
Duly filled Proposal form/Application form
Other KYC documents; PAN Card, Adhaar Card, Tax Details etc
**Documents required are a subject to the plan options and the sum assured chosen.
You may also like to read: Bajaj Allianz ULIP Plans
Frequently Asked Questions
Q. What is the decreased sum assured under the plan?
Under the decreased sum assured option, the insured has the choice to reduce the single premium sum assured in his first plan year. This change in sum assured can be done on any of the premium due date, this change is subject to the minimum sum assured allowed.
**Any change in the sum assured has miscellaneous charges applicable under it.
Q. What is the investor selectable portfolio strategy?
The insured gets the flexibility to invest his premiums into his choice of funds in proportional units as per requirements. The redirection of premiums into any fund should be atleast 5%.
Q. What are the death benefits provided in details?
In the case of death of the insured before the date of the maturity, then the benefits of death that are payable to the nominees in a lump sum amount are as follows:
Sum Assured / Single Premium
Top Up Sum Assured / Top Up Premium Fund Value
If the insured dies before his age of 60 years, the assured sum amount will be reduced by the partial withdrawals made from the single premium amount within 2 years before the date of death.
If the insured dies after his of 60 years, the assured sum amount will be reduced by the partial withdrawals made from the single premium fund within 2 years before turning 60 years and partial withdrawals made after turning 60.
The partial withdrawals done from the top up premiums shall not be deducted.
**The guaranteed death benefits which are applicable throughout the policy term is 105% of the total premiums paid till date including top-up premiums paid till date.
Q. What are the conditions for loyalty additions under the plan?
The insured gets to avail loyalty benefits under the plan, which is calculated at a percentage of single premium which shall be added to the single premium fund value on the date of maturity.
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