Bajaj Future Gain Plan: All You Need to Know
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The company's Future Gains insurance plan is a unit-linked program that provides policyholders the chance to build money for the future. It accomplishes this by using your premium payments and depositing them in the debt and stock markets.
It also has features like adaptable premium payment choices, a selection of different funds, a selection of risk levels to match each investor's tolerance for risk, and much more. It also gives you the ability to increase your wealth while taking advantage of the security offered by either a life insurance policy, which is a double win. To know more about Bajaj Future Gain, read on.
What Are The Key Features Of Bajaj Future Gain?
Following are the key features of Bajaj Future Gain -
- This is a ULIP policy with the choice of paying premiums regularly or limitedly.
- Portfolio Strategies - Cycle of existence and the Client User definable Portfolio approach or Changeable Portfolio Strategies
- Changeable Portfolio Strategies - The investor might use this method to pick from the seven funds to satisfy his needs if he wishes to deploy his premiums according to his preferences.
- Cycle Of Existence Portfolio Strategy - Except for Pure Stock Fund and Asset Allocator Fund II, all premiums assigned are distributed in a predetermined ratio among 5 funds. The assets are mostly allocated to Bond Fund and Liquid Fund to safeguard returns from market volatility as the insurance term ages and approaches maturity.
What Are The Details About The Policy That One Should Know?
Following are the brief details about the policy -
- Grace Period - In the event that the insured stops paying their insurance premium through the due date, a grace period of 15 days for monthly premium payments and 30 days for yearly premium payments is permitted. Nevertheless, the insured's policy will expire if they don't pay within the grace period.
- Termination Of Policy - A surrender value is permitted with the plan when five years have passed. The full Fund Value is reimbursed to the insured without any additional fees if he renounces his plan after five years of coverage. Additionally, the Fund Value, less any applicable discontinuation penalties, is allocated to the Linked Discontinued Policy Fund if the insured abandons his plan before accumulating 5 years of benefits. After the insured has used the plan for five years without incurring any additional fees, the Fund Value will increase by 4% p.a. on an annual basis and be given to them.
- Free Look Period - If the insured is unhappy about his plan or the features and advantages it offers, he or she is able to return it within 15 days after receiving the policy paperwork, as long as no claims have been filed yet.
What Are The Benefits Under Bajaj Future Gain?
Following are the benefits under Bajaj Allianz Future Gain -
- The fund value as a consequence of your monthly premium payments as well as any top-up charges that you may have made together make up the maturity benefit provided by the policy.
- The greatest sum assured, fund value, and highest top-up premium sum assured, amount assured, and fund value are combined to determine the death benefits provided.
- You have the choice to invest in one of seven funds, each of which has a range of risks from low to high.
- You can receive the benefit when you cancel this coverage in five-year instalments.
- When deciding how your money is invested, you can pick between the Investor Changeable Portfolio Strategies as well as the Cycle of Existence Portfolio Strategy.
- Additionally, you can anticipate receiving tax breaks on the payments and the maturity/death payments per sections 80C and 10(10D).
Endnotes
This plan's remarkable model offers consumers a variety of customisable investment options, including the chance to choose from alternative investments, options for premium payment, and options for settlement benefit. The plan provides you with an essential life insurance policy in addition to aiding in the development of your investment.
