Bajaj Future Gain Plan: Everything You Need to Know
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Bajaj Allianz Future Gain is a Bajaj Allianz Life Insurance Company unit-linked endowment plan. The plan enables policyholders to invest their premiums in the stock and bond markets, allowing them to build wealth. It not only creates money for you, but it also offers vital life insurance in the policy. The plan offers a variety of outstanding investing possibilities, including flexible premium payment options, investment selections based on risk appetite, and much more.
The Bajaj Future Gain Plan: Everything You Need to Know
Everything you need to know about the Bajaj Future Gain Plan is listed below:
The Advantage of Maturity
The maturity benefit inside Bajaj Allianz Future Gain is equal to the premium service fund amount plus the top-up payment fund amount as of the maturity date. To get the maturity premium, the insurance must be quite powerful.
Benefit of Surrender
You have the option to cancel your coverage at any time. You can cancel the insurance at any time throughout the policy's duration. When insurance is surrendered during the lock-in period, the regular premium fund and the top-up premium cash value are transferred to the terminated policy fund, less the discontinuation or surrender charge. After the lock-in time has been completed, the surrender money will be refunded. When a life insurance policy is surrendered, the coverage expires.
Benefits on Death
If the customer dies within the policy's term and the plan is still in existence, a lump sum death benefit will be paid out right away. The death benefit will be the higher of the amount assured or premium service fund value, plus the higher of the top-up premium sum assured or top-up fund value if any. The death benefit is guaranteed to be 105 percent of the entire premiums paid, plus any extra premiums paid up to the date of death. If the life insured dies before reaching the age of 60, the sum assured will be reduced by all partial withdrawals made in the two years running up to the date of death of the life assured. Any partial withdrawals made during the two years before reaching the age of 60, as well as all distributions from the regular premium fund after reaching the age of 60, will reduce the sum insured when a person dies at the age of 60. If a portion of the top premium is withdrawn, the death benefit will not be diminished.
Period of Revival
The policy can be reactivated within two years following its termination.
Period of No Obligation to Look
The policy offers a 15- or 30-day free look period for insurance purchased through indirect advertising. If a consumer is unhappy with any of the policy's terms and conditions, they can return the insurance to the provider and obtain a refund of the money paid, less any penalties that may apply.
Time of Grace
If you pay monthly, there is a 15-day waiting time; if you pay every other month, there is a 30-day waiting period.
The Value of Surrender
The insurance can be canceled at any time under the conditions of the policy. A five-year lock-in period is included in the insurance. When a policy is relinquished within the lock-in period, the regular premium fund value plus the top-up premium fund value, minus the discontinuation or surrender charge, is transferred to the discontinued policy fund. After the lock-in time has been completed, the surrender value will be paid. When a life insurance policy is surrendered, the coverage expires.
Take Away
The Bajaj Allianz Future Gain ULIP has been thoughtfully designed to provide clients with a variety of investment options, including 7 different funds, fixed payment options, and settlement benefit options. Not only will the plan help you save money, but it will also offer you crucial life insurance. Overall, this plan is a good choice if you want a single investing program for wealth growth and life insurance.
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