Bajaj Allianz Future Gain

• Choice of 7 funds to invest in
• Maximum Premium Allocation
• Option to make partial withdrawals from the fund
• 2 unique portfolio strategies
• Option to decrease sum assured
• Option to alter premium payment frequency
• Maturity benefits in lump sum or installments
• Boost coverage with rider benefits
• Flexibility of Partial Withdrawals/Switching & Premium Redirection
• Avail tax benefits

This policy offers following 7 investment funds and you have the option to invest in any one or combination of fund options.

• Equity Growth Fund II
• Accelerator Mid-Cap Fund II
• Pure Stock Fund
• Asset Allocation Fund II
• Bluechip Equity Fund
• Bond Fund
• Liquid Fund

You can choose from the 2 following portfolio strategies:

Investor selectable Portfolio Strategy: Under this strategy, you have the option to choose among 7 available funds to invest as per your choice.

Wheel of Life Portfolio Strategy: This portfolio strategy ensures that a balance is maintained between your ‘years to maturity’ and the level of risk on your investments, to optimize the returns.

At any policy anniversary, you can change your portfolio strategy by giving a 30-day prior written notice.

Death Benefit

In the event of death of the life insured during the policy term, the Death Benefit as a lump sum is payable to the nominee, which is higher of the sum assured or regular premium fund value Plus higher of top-up premium sum assured or top-up premium fund value, if any. The Death Benefit payable should be at least 105% of the total premiums (including top-up premiums) paid.

The sum assured is reduced by partial withdrawals, as follows.

Before age 60 years of the life insured, Sum Assured is reduced to the extent of Partial Withdrawals made during the last two years prior the date of death. Upon or after attaining 60 years of age, Sum Assured is reduced to the extent of all Partial Withdrawals made after attaining 58 years.

Maturity Benefit

On survival of the life insured till the end of the policy term, the Fund Value (including top-up fund value) is payable at maturity, provided the policy is in-force. You can receive this benefit as a lump sum or as periodic installments by using 'Settlement Option'.

Settlement Option

On maturity, you can opt to receive your money in annually, semi annually, quarterly or monthly installments over a maximum period of 5 years, after the date of maturity. You also have the option to completely withdraw the fund value at any time during the settlement period. No life cover is applicable during this settlement period. Only fund management charge is levied during the settlement period. No partial withdrawals and fund/portfolio strategy switches are allowed during this period.

Decrease the Sum Assured

You have the option to decrease the Sum Assured after 1^st policy year. The decrease in sum assured can be done at any monthly policy anniversary.

Top-Up Premium

Facility for Top-up Premium is available through the entire policy term, except during the last five years of the policy. The minimum top-up premium allowed is Rs 5,000. The total top-up premium should not exceed the total of premiums paid. Top-up Sum Assured is 1.25/1.10 times the Top-up Premium paid for age less than 45 years/for other ages, respectively.

Claw-back Additions

Non-zero positive additions are added to the fund value to ensure the maximum reduction in yield criteria as per Sub-regulation 37 of IRDA (Linked Insurance Products) Regulations, 2013. It is added at the end of each policy year, starting from 5^th policy year.

Switching

You can switch among 7 available fund options to suit your changing investment needs. The minimum switch amount allowed is lower of Rs 5,000 or the value of units in the fund to be switched from. This option is available under the Investor Selectable Portfolio Strategy.

Partial Withdrawal

Partial Withdrawal is allowed after completion of five policy years (in case of minor lives, life assured attains 18 years). The minimum partial withdrawal amount is Rs 5,000. The minimum regular premium fund value required after each withdrawal should not fall below 3 times of the annualized premium.

The maximum amount of partial withdrawal at one time is 10% of the total premiums (including top-up premiums) paid. The minimum time interval required between any two partial withdrawals should be 3 months. The total amount withdrawn throughout the policy term cannot exceed 50% of the total premiums paid.

In the Investor Selectable Portfolio Strategy, you can choose the fund/s from which you want to make partial withdrawals.

Premium Apportionment

Premium Apportionment is only available under the Investor Selectable Portfolio Strategy. The premium apportionment to any fund should be at least 5% and at any time, you have the flexibility to alter the proportion of premium invested into the funds.

Bonus

The plan is not eligible for the bonuses, as it is a non-participating insurance plan.

Loan Benefit

No loan benefit can be availed under this plan.

Surrender Value

Upon surrendering the policy with-in the lock-in period of 5 years, the Fund Value (including top-up fund value) less applicable discontinuance charges is credited to the ‘Discontinued Life Policy Fund’ and it is refunded upon completion of the lock-in period. The proceeds after addition of interest subject to a minimum guaranteed interest rate of 4% per annum or as stipulated by IRDAI is payable after the end of the lock-in period.

Upon surrendering the policy after the lock-in period of 5 years, the Fund Value (including top-up fund value) as on the date of surrender is payable immediately.

The policy terminates after payment of the surrender value.

Following riders can be opted, on payment of additional rider premium:

• Bajaj Allianz ULIP Accidental Death Benefit Rider
• Bajaj Allianz ULIP Accidental Permanent Total/Partial Disability Benefit Rider
• Bajaj Allianz ULIP Critical Illness Benefit Rider
• Bajaj Allianz ULIP Family Income Benefit Rider
• Bajaj Allianz ULIP Waiver of Premium Benefit Rider

Premium Allocation Charges: This charge is deducted from the premium paid. The Premium Allocation Charge is 5.5%/2.5% during the 1^st policy year for the annualized premium band of Rs 25,000 to 99,999/Rs 100,000 to 199,999 respectively. It is 3.75%/1.75% during 2nd to 5th policy year for the annualized premium band of Rs 25,000 to 99,999/Rs 100,000 to 199,999 respectively. All Top ups have a premium allocation charge of 2%.
 

Policy Administration Charge: Policy administration charge is Rs 33.33 per month increases @5% per annum every month. This charge is deducted at each monthly anniversary by cancellation of appropriate units at the prevailing unit price. This charge is subject to a maximum of Rs 6,000 per year.
 

Mortality Charges: Mortality charge is based on the age of the life insured and Sum at Risk (SAR) at the time of deduction of charge.
 

Fund Management Charges: Fund management charge levied is a percentage of the Fund Value. It is 1.35% p.a for Equity Growth Fund II, Accelerator Mid-Cap Fund II, & Pure Stock Fund, 1.25% p.a for Asset Allocation Fund II & Bluechip Equity Fund, 0.95% p.a for Bond Fund & Liquid Fund, 0.50% p.a for Discontinued Life Policy Fund. Fund management charge for all funds except Discontinued Life Policy Fund may be revised up to a maximum 1.35% p.a on prior approval from IRDAI.
 

Discontinuance Charge: This charge is levied, in case the policy is discontinued during the first 4 policy years. This charge is levied as applicable under the policy terms & conditions. For more details, please refer the policy brochure.
 

Rider Charge: This charge is deducted on each monthly due date throughout the rider term by cancellation of units.
 

Switching Charge: Unlimited free switches are available during the policy term. No switching charge is levied.
 

Partial Withdrawal: A maximum of 2 partial withdrawals are allowed during a policy year.
 

Miscellaneous Charges: Each alteration request of premium mode, premium apportionment, change in premium paying term or decrease in sum assured attracts a charge of Rs 100, subject to a maximum of Rs 200.
 

Taxes: The charges mentioned under this plan are subject to applicable tax and cess, as applicable.

Tax benefits can be availed under section 80C & 10(10D) under the Income Tax Act, subject to change in tax laws.

Mr. Harsh aged 35 years, opts for Bajaj Allianz Future Gain with the policy term of 24 years, premium paying term of 20 years, annual premium of Rs 50,000 and the sum assured of Rs 7,00,000.

Scenario A- Maturity Benefit: In case of his survival till maturity of the policy, the Fund Value (including top-up fund value) is payable at maturity, provided the policy is in-force.

Scenario B- Death Benefit: In the event of his death during the 14^th policy year, the Death Benefit payable is higher of the sum assured or regular premium fund value Plus higher of top-up premium sum assured or top-up premium fund value, if any.

Note: The above illustration considering investment is in the "Asset Allocation Fund II" and Goods & Service Tax 18%