Who does not want to get maximum value for money? After all, every ounce you earn is the result of your hard work and dedication. In order to make sure that all your hard earned money is utilized completely, Bajaj Allianz has designed Fortune Gain. It is a Single ULIP Endowment Policy in which the premium allocation of up to 99.5 % is offered to the policyholder, making it a worth investment.
Learn more about features
It is an individual and non-participation ULIP with single premium. It offers the following benefits:
Premium allocation is 99.5% for single premium more than or equal to 10 Lakhs.
It also offers 3% loyalty additions of single premium. It depends on the premium (single) and policy tenure selected at the time of purchasing the policy.
The policyholder can make a choice between 7 funds.
He or she can also choose the partial withdrawal(s) option when withdrawing from the available funds.
He or she can also opt for increasing the sum insured.
He or she can choose to pay off the top-up to the limit of the payment of the single premium.
The option of systematic switching makes investment management easy and better.
The policy also offers Settlement Option. It means one can avail the maturity benefits in parts.
How this investment plan works?
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As per the policy, the premium paid off by the policyholder is spent in a portfolio strategy (Investor Selectable). This investment is done after applying required premium allocation charge.
All units are computed considering the fund’s current unit pricing.
All charges, such as policy administration and mortality are deducted on a monthly basis through unit cancellation.
The charges of fund management are attuned in the unit pricing.
Benefits payable under the policy
Maturity benefits
As per the policy, the benefit paid under this clause is both the premium fund rate (single) + top-up premium fund (if any), only if your policy is active.
Death benefitsIf the policyholder dies before the date of policy maturity, the nominee is entitled to receive the death benefit. It can be availed only if the policy is active. The death benefits mentioned below are – as on the date of death intimation receipt.
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The lump sum given to the nominee is:
The higher of the amount covered (sum insured) for single premium fund charge +
The higher amount of the top-up premium/ top-value premium fund charge (if charge)
If the policyholder dies before the age of 60 years, then the amount of sum insured will be decreased to the limit of the withdrawals (partials) done from the single premium fund value during the allotted 2-year duration, immediately after his or death.
In case the insured dies after the age of 60 years, then the amount of sum insured will be decreased to the limit of the withdrawals (partials) done from the single premium fund value during the allotted 2-year duration before become 60 years old. Also, all the withdrawals (partial) made from the amount of single premium fund after the age of 60 years.
No money shall be deducted from the top-up premium, in case of withdrawals (partial) made from the amount of single premium.
Loyalty additions
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The investment plan is entitled to get loyalty additions according to the table given below.
|
Policy Duration |
Single Premium |
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Rs. 50,000 to Rs. 99,999 |
Rs. 100,000 & above |
|
|
7 to 10 |
NA |
NA |
|
10 to 30 |
NA |
3% |
This benefit is not available for the payment of the top-up premium.
Eligibility
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Eligibility Parameters |
Details |
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Entry Age (Min.) |
1 Year |
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Entry Age (Max.) |
63 Year |
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Age at Maturity (Min.) |
18 Years |
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Age at Maturity (Max.) |
70 Years |
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Policy Term (Min.) |
7 Years |
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Policy Term (Max.) |
30 Years |
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Single Premium (Min.) |
Rs. 50, 000 |
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Single Premium (Max.) |
No Limit |
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Frequency of Premium Payment |
Single |
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Sum Insured (Min.) |
1.25 X Single Premium if entry age < 45 Years |
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1.1 X Single premium if entry age >= 45 Years |
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Sum Insured (Max.) |
Policy Term |
Age at Entry |
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1 to 20 |
21 to 30 |
31 to 35 |
36 to 44 |
More than 45 |
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|
7 to 10 |
10 |
10 |
10 |
5 |
1.5 |
|
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11 to 15 |
10 |
10 |
8 |
3 |
1.5 |
|
|
16 to 20 |
10 |
8 |
5 |
3 |
1.5 |
|
|
21 to 25 |
10 |
6 |
4 |
2 |
1.5 |
|
|
26 to 30 |
10 |
5 |
3 |
2 |
NA |
|
|
Sum Insured (Min. + Max.) on Top-Up |
Age |
Top Up SA multiplier |
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|
< 45 Years |
1.25 X top-up |
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>= 45 years |
1.1 X top-up |
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Frequently asked questions
What is SSO (Systematic Switching Option)?
It provides the policyholder with a winning strategy for optimizing their returns, in volatile market circumstances. This benefit can only be opted at the time of commencement of the policy.
When top-up premium can be used?
The policyholder can make a lump sum investment whenever he or she wants, but not during the last 5 years of the policy, by paying off top-premiums for enhancing his or her fund value.
