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Bajaj Allianz ULIP Plans

The Unit Linked Insurance Plans (ULIPs) from Bajaj Allianz are financial instruments that provide you life insurance benefits and market linked savings under the same policy. When the policyholder pays the premium towards a ULIP, a part of the premium is utilised in providing the life insurance cover. The remaining part of the premium is invested in equity or debt instruments, based on the choice of the policyholder. Asset class investment is done after the known charges are deducted.

Benefits of Bajaj Allianz Unit Linked Insurance Plans:

  • Bajaj Allianz Unit Linked Insurance Plans provide the life assured the option to participate in investment markets, based on his/her risk appetite.
  • These offer the dual benefits of life insurance coverage and returns from the capital markets.
  • In the event of death of the life assured, the policyholder is paid the highest among the sum insured and the fund value/market value of the investment.
  • When the policy matures, the fund value is paid to the life assured.
  • The ULIPs offered by Bajaj Allianz provide the option to pay a top-up premium.
  • Customers can also change the premium payment frequency and premium payment term, if required.
  • It is possible to partially withdraw or surrender the ULIPs, when needed.

List of Unit Linked Insurance Plans Provided by Bajaj Allianz:

The Unit Linked Insurance Plans provided by Bajaj Allianz are the following:

Bajaj Allianz Future Gain:

This is a Unit Linked Endowment Plan that provides the customer maximum premium allocation to ensure that a good part of the money is used for the fulfillment of his/her future milestones.

  • The plan provides the customer the choice of 2 investment strategies and the option of 7 funds.
  • Customers can make partial withdrawals and pay top-up premiums, if needed.
  • Customers can also decrease the sum assured and alter the frequency of premium payment, if desired.
  • There is an option for the customer to take maturity benefits in installments, if needed.
  • The plan provides the following payouts:
    1. Maturity Benefit - This is the regular premium fund value as on the maturity date, subject to the policy being in-force.
    2. Surrender Benefit - A customer can surrender his/her policy anytime during the tenure.

When it is surrendered during the lock-in period of 5 years, the regular premium fund value minus the surrender charges plus the top-up premium fund value will be moved to the discontinued policy fund. Following this, the life cover ceases. The discontinuance value will be paid out at the end of the lock-in period.

When the policy is surrendered after the lock-in period, the surrender value paid out will be the regular premium fund value plus top up premium fund value. This amount will be paid immediately, and the policy terminates.

  1. Death Benefit - If the policyholder dies before the policy maturity, the death benefit is calculated as below:

Death Benefit = (Higher of the regular premium fund value or sum assured) + (Higher of the top-up premium fund value or top-up premium sum assured)

Adjustments will be done to the sum assured if there were partial withdrawals from the policy.

Plan Name Entry Age (yrs) Maturity Age (yrs) Premium
Future Gain Minimum - 1 Maximum - 60 Minimum - 18 Maximum - 70 Minimum Premium:
  • For Yearly premium payment frequency - Rs.25,000
  • For Half-yearly premium payment frequency - Rs.12,500
  • For Quarterly premium payment frequency - Rs.6,500
  • For Monthly premium payment frequency - Rs.2,500
  • Top-up premiums - Rs.5,000
Maximum Premium:
  • For Yearly premium payment frequency - Rs.12,00,000
  • For Half-yearly premium payment frequency - Rs.6,00,000
  • For Quarterly premium payment frequency - Rs.3,00,000
  • For Monthly premium payment frequency - Rs.1,00,000

Bajaj Allianz Fortune Gain:

This is a Unit Linked Single Premium Endowment Plan that offers maximum premium allocation so that the money invested by the customer is utilised in the best possible manner.

  • The plan offers 99.5% premium allocation for policies with single premium of Rs.10 lakh and above.
  • Loyalty Additions of 3% of the single premium are provided, based on the chosen policy term and single premium.
  • The customer has a choice of 7 funds in which the investment can be made.
  • Customers can also make partial withdrawals and pay top-up premiums, if needed.
  • It is possible to decrease the sum assured when required.
  • The plan also enables customers to switch between funds and take maturity benefits in installments.
  • The plan provides the following payouts:
    1. Maturity Benefit - This is the sum of the single premium fund value and the top-up premium fund value, as on the maturity date, subject to the policy being in-force.
    2. Surrender Benefit - A customer can surrender his/her policy anytime during the tenure.

When it is surrendered during the lock-in period of 5 years, the single premium fund value minus the surrender charges plus the top-up premium fund value will be moved to the discontinued policy fund. Following this, the life cover ceases. The discontinuance value will be paid out at the end of the lock-in period.

When the policy is surrendered after the lock-in period, the surrender value paid out will be the single premium fund value plus top up premium fund value. This amount will be paid immediately, and the policy terminates.

  1. Death Benefit - If the policyholder dies before the policy maturity, the death benefit is calculated as below:

    Death Benefit = (Higher of the single premium fund value or sum assured) + (Higher of the top-up premium fund value or top-up premium sum assured)

    Adjustments will be done to the sum assured if there were partial withdrawals from the policy.

  2. Loyalty Additions - The policy will also be entitled to loyalty additions. These will be added to the single premium fund value on the maturity date of the policy. Loyalty additions are not paid on top-up premiums.
Plan Name Entry Age (yrs) Maturity Age (yrs) Premium
Fortune Gain Minimum - 1 Maximum - 63 Minimum - 18 Maximum - 70 Minimum Premium: Single premium of Rs.50,000 Maximum Premium: No limit

Bajaj Allianz Principal Gain:

This is a guaranteed maturity Unit Linked Insurance Plan that caters to the specific requirements of the policyholder and safeguards his/her investments.

  • The plan offers triple benefits of principal protection, life cover, and the potential for high returns.
  • Customers receive Guaranteed Loyalty Additions at policy maturity.
  • Customers can choose from various premium payment terms and policy terms.
  • It is possible to take the maturity benefit in the form of installments, if required.
  • The plan provides the following payouts:
    1. Maturity Benefit - This is the higher of the fund value or Guaranteed Maturity Benefit of 101% of the total premiums paid.
    2. Surrender Benefit - A customer can surrender his/her policy anytime during the tenure.

When it is surrendered during the lock-in period of 5 years, the fund value minus the surrender charges will be moved to the discontinued policy fund. Following this, the life cover ceases. The discontinuance value will be paid out at the end of the lock-in period.

When the policy is surrendered after the lock-in period, the surrender benefit paid out will be the fund value. This amount will be paid immediately, and the policy terminates.

  1. Death Benefit - If the policyholder dies before the policy maturity, the death benefit is the higher of the fund value or sum assured or Guaranteed Death Benefit of 105% of the total premiums paid till death.
  2. Guaranteed Loyalty Additions - If the policyholder has paid premiums for at least 5 years, then the fund value will be enhanced with the Guaranteed Loyalty Additions at maturity.
Plan Name Entry Age Maturity Age Premium
Principal Gain Minimum - 7 Maximum - 60 Minimum - 18 Maximum - 70 Minimum Premium:
  • For Yearly premium payment frequency - Rs.15,000
  • For Monthly premium payment frequency - Rs.2,000
Maximum Premium: Rs.1,00,000 paid as an annual premium

Why do you need Bajaj Allianz Unit Linked Insurance Plans?

The life insurance coverage that the Unit Linked Insurance Plans from Bajaj Allianz provide you will prove to be invaluable during an eventuality. Additionally these plans provide you tax benefits as described below:

  • Premiums paid towards the policies get tax benefits under Section 80C of the Income Tax Act.
  • The benefits paid out, i.e., Maturity Benefits, Death Benefits, and Surrender Value, are eligible for tax rebates under Section 10(10D) of the Income Tax Act, subject to certain provisions.

ULIPs can be utilised by people who are otherwise not disciplined enough to make wise investments in the debt and equity markets. Unit Linked Insurance Plans will help such individuals, as they can get assistance and investment advice from the insurer as well.