Bajaj Allianz Life Insurance - Future Wealth Gain - Wealth Plus Variant with sum assured of up to Rs. 1 crore
Key features
Key features and benefits of this policy
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Choice of 2 portfolio strategies
Investor Selectable Portfolio strategy – Choose from 10 different funds
Wheel of Life Portfolio Strategy – Investment in funds is done basis of years to maturity. -
Fund booster benefit
Get additional returns at maturity with a fund booster added to the regular premium fund value, provided all due regular premiums have been paid.
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Loyalty additions
Get a percentage of one annualised premium as loyalty additions at the end of every 5th policy year commencing from the 10th policy year.
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Option to change premium payment frequency
Get the flexibility to alter the premium payment frequency. The available frequencies are monthly, quarterly, half-yearly, and yearly.
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Partially withdraw funds during emergencies
You can make partial withdrawals of funds after the fifth policy year. Please note that the minimum withdrawal amount at any one time is Rs. 5,00
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Option to change portfolio strategy
Change from Investor Selectable Portfolio to Wheel of Life Portfolio Strategy and vice-versa by giving a 30-day prior written notice.
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Option to reduce regular premiums
You can reduce the prevailing regular premium after the first five policy years. The reduction can be up to 50% of the starting premium.
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Additional rider benefits
Enhance your plan with a choice of additional riders –
1. Accidental Death Cover Rider
2. Accidental Permanent Total/Partial Disability
3. Waiver of Premium Benefit Rider
Eligibility criteria and documents required
Anyone can apply for Bajaj Allianz Life Future Wealth Gain – Wealth Plus Variant plan as long as you meet the basic criteria mentioned below. If you meet all the eligibility criteria, we will need a set of documents to complete your application process.
Eligibility criteria
- Nationality: Indian
- Age at entry: 0 year to 60 years
Documents required
- Photograph of the proposer
- Age proof, such as PAN card, passport, Voter’s ID, or birth certificate.
- Address proof, such as telephone bill, electricity bill, Aadhar card, etc.
- Identity proof such as aadhar card, passport, PAN card, etc.
- Income proof such as Form-16, salary slips, employment certificate, etc.
Step-by-step guide to buy this policy
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Step 1
Click on ‘Get Quote’ to open our online application form.
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Step 2
Enter the required details – amount you want to invest, name, date of birth, and contact number.
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Step 3
Choose your preferred plan from the list of products shown by clicking ‘Buy Now’.
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Step 4
Our representative will call you back and explain the products available for you to take an informed decision.
Policy details
Here’s a quick look at the policy details of Bajaj Allianz Life Future Wealth Gain – Wealth Plus Variant plan:
| Policy details | Description |
|---|---|
| Policy term and Premium Payment Term | Policy Term - 10 years Premium Payment Terms – 5, 7, and 10 years | Policy Term – 15 to 25 years | Premium Payment Terms – 5, 7, 10, 15 years |
| Premium payment frequency | Yearly, half-yearly, quarterly and monthly |
| Minimum premium (in Rs.) | Annual – 50,000 | Half-yearly – 30,000 | Quarterly – 15,000 | Monthly – 5,000 |
| Minimum sum assured | 10 times the annualised premium |
| Maximum sum assured | Age x Multiplier 0-25 years x 40 | 26-35 years x 30 | 36-40 years x 20 | 41-44 years x 15 | 45-above years x 10 | |
Key inclusions and exclusions
Here’s a quick look at the inclusions and exclusions under the Bajaj Allianz Life Future Wealth Gain – Wealth Plus Variant plan:
- Key inclusions
- Key exclusions
| Key inclusion | Descriptions |
|---|---|
| Maturity benefit | On the maturity date, you will receive the Regular Premium Fund Value plus Top up Premium Fund Value |
| Death benefit | The death benefit payable will be higher of: Regular Premium Prevailing Sum Assured plus Top-up Sum Assured, if any, or Fund Value as on date of receipt of intimation of death |
| Additional Riders | Accidental Death Benefit Rider | Accidental Permanent Total/Partial Disability |
| Key exclusions | Description |
|---|---|
| Suicide | In case of the death of the life assured of the insured due to suicide, the insurer's liability shall be limited to the fund value as on the date of death |
Product information
For complete details on product benefits, features, terms and exclusions, please read the product sales brochure and policy wordings carefully before concluding a sale.
How to raise a claim
Follow these steps to raise claim requests for Bajaj Allianz Life Future Wealth Gain – Wealth Plus Variant plan.
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Step 1 - Register your claim request
Register the claim request with the insurer through their website, e-mail or by calling their claim assistance contact number.
1. Contact No: 1800 2201 02
2. Email at: balic.healthclaims@healthindiatpa.com -
Step 2 - Submit the required documents
Submit the necessary documents along with the duly filled claim form online or to the nearest branch of the insurer.
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Step 3 - Claim settlement
The claim request will be assessed, and the status will be informed to the claim initiator via e-mail and SMS. It can also be checked online on the insurer’s website.
Documents required for raising a claim request
Here is the list of documents you need to raise a claim for Bajaj Allianz Life Future Wealth Gain – Wealth Plus Variant plan.
- Original policy documents
- Attested copy of death certificate issued by local municipal authority
- Death claim intimation form
- NEFT mandate form attested by bank authorities or copy of cancelled cheque or bank account passbook
- Nominee's photo identity and address proof such as copy of passport, voter identity card, aadhar (UID) card, etc.
- FIR copy or post-mortem report in case of an accidental/unnatural death
Frequently asked questions
Unit-linked insurance plans are insurance policies that assign a part of your premium towards your life cover and the rest in investments through equity, debt funds, or a combination of both, depending on your options.
If all due premiums are paid, then, in case of unfortunate death of the life assured during the policy term, the death benefit payable will be higher of:
1. Regular Premium Prevailing Sum Assured plus Top-up Sum Assured, if any, or
2. Fund Value as on date of receipt of intimation of death
You will have the option to change the premium payment frequency under this policy at any policy anniversary. The available frequencies are – monthly, quarterly, half-yearly, and yearly.
As loyalty additions, you get a percentage of one annualised premium as loyalty additions at the end of every 5th policy year commencing from the 10th policy year.
This policy gives you the option to choose one of two portfolio strategies:
Investor Selectable Portfolio strategy – Choose from 10 different funds
Wheel of Life Portfolio Strategy – Investment in funds is done basis years to maturity.
You also have the option to change the strategy by giving a 30-day prior written notice.
