Maximum profit with minimum investment – isn’t it amazing. This is no secret that almost everyone seek ‘that one’ opportunity. After all – every currency you invest is your hard earned money. Congratulate the investor inside you. That’s because Bajaj Allianz presents you a wonderful Unit-Linked Endowment policy – Future Gain.
It offers maximum premium allowance ensuring that your hard earned money gets utilized in the best possible way and to the maximum limit. It does not provide any liquidity until the initial 5 years of the policy are complete. So, the insured is allowed to withdraw any money during this period, fully or partially.
The prominent benefits
- The policyholder can avail premium allocation to the maximum.
- It offers 2 options, in terms of investment portfolio approaches and 7 options, in terms of funds.
- The policyholder also gets partial withdrawal (from their funds) benefits.
- Top-up premium payment option is also available.
- One can decrease the amount of sum covered and change the frequency of premium payment.
- The policyholder can also avail maturity benefits in parts (Settlement Option).
How does it function?
- The premium payments done by the policyholder are invested according to the portfolio strategy selected by him or her across the different funds applicable. It is calculated after applying of the relevant rate of premium allocation.
- The units are owed at the current unit price of the endowment. Policy administrations as well as mortality charges are deducted on a monthly basis via cancellations of the units. The cost of fund management is synced with the unit price.
Benefits payable
Maturity Benefit
- Under this policy, this advantage is the standard value of the premium fund with top-up premium, as of the date of maturity. It can be availed only when the policy is active.
Death Benefit
- Unfortunately, if the policyholder dies before the date of policy maturity (when the policy is running), the insurance provider owes the nominee a lump sum – the higher of the amount covered under the policy or normal premium fund value + the higher of the sum insured (top-up premium or fund value of top-up premium, if any. The benefits mentioned above, as on the receipt date of the death intimation.
- The death benefit is related to the guaranteed death advantage. It is 105% of the total premium payments done. It also includes the paid top-up premiums, till the demise date of the policyholder.
- If the policyholder dies before the age of 65 years, the sum insured is bound to reduce to the limits of partial withdrawals done from the amount of regular premium during the period of 2 years, just after the dead of the insured.
- If the policyholder dies after the age of 60 years, the sum insured is bound to reduce to the limits of partial withdrawals done from the amount of regular premium during the period of 2 years, before attaining the age of 60 years and after that as well.
- The policy can also get surrender benefits, as specified under the policy.
Portfolio Strategies
The policyholders get to choose between two Portfolio Strategies:
- Investor Selectable – If the insured intends to apportion the policy premiums on the basis of his or her decision or choice, he or he can go for Investor Selectable strategy and select from 7 funds associated with the policy.
- Wheel of Life – This strategy provides the insured with a privilege called “Years of Maturity” on the basis of portfolio management. According to this strategy, on completion of each year of the policy, the insured can select from various fund values in the proportion on the basis of the due years to maturity are apportioned or reallocated.
Chart showing eligibility and premium related aspects
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Criteria |
Details |
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Min. Entry Age |
1 Year |
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Max. Entry Age |
60 Years |
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Min. Age at Maturity |
18 Years |
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Max. Age at Maturity |
70 Years |
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Min. Policy Tenure |
10 Years |
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Max. Policy Tenure |
Refer to the policy term given below |
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Term (Premium Payment) |
5 or 6 Yrs. |
Other PPTs |
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Policy Term |
10, 15 to 20 Yrs |
10, 15 to 30 Yrs |
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PPT |
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Modal Premium |
Frequency |
1 Year |
6 Months |
3 Months |
1 Month |
Top-Up |
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Premium |
25000 |
12500 |
6500 |
2500 |
5000 |
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Maximum Premium |
Frequency |
1 Year |
6 Months |
3 Months |
1 Month |
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Premium |
1200000 |
600000 |
300000 |
100000 |
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Frequency of Premium |
Annually, Half-yearly, Quarterly and Monthly |
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Min. Sum Insured |
Age |
Higher of |
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< 45 years |
10 X Annualized Premium |
0.5*Policy Tenure* Annualized Premium |
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>= 45 Years |
7 X Annualized Premium |
0.25*Policy Tenure* Annualized Premium |
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Max. Sum Insured |
Policy Term |
1-35 |
36 – 40 |
41 – 44 |
45 – 50 |
51 and > |
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Entry Age |
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10 – 15 |
15 |
15 |
10 |
10 |
Min. Sum Insured |
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16 – 20 |
15 |
15 |
10 |
Min. Sum Insured |
Min. Sum Insured |
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21 – 25 |
15 |
12.5 |
Min. Sum Insured |
Min. Sum Insured |
NA |
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26 – 30 |
15 |
Min. Sum Insured |
Min. Sum Insured |
NA |
NA |
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Min. & Max. Sum Insured on Top-up Premium |
Age |
Multiplier (Top-up Sum Insured) |
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< 45 years |
1.25 X |
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>= 45 Years |
1.1 X |
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