Bajaj Life Fortune Gain Plan

Bajaj Life Fortune Gain - Policy Details

Grace Period: If the insured fails to pay his premium within the premium due date then he is allowed a grace period of 15 days for monthly premium payment mode and 30 days grace period in case of annual premium payment mode, failure to which the policy shall lapse. 

Policy termination or Surrender Benefit: On completion of 5 years the plan enables a surrender value with its plan. If the insured surrenders his plan before completing 5 years with his plan then his Net Fund Value after deducting  discontinuation charges shall be credited to his linked discontinued policy fund with a yearly 4% growth. If the insured surrenders his plan after completing 5 years, then the complete fund value as on the surrender date is paid to the insured with no additional charges applicable. 

Free Look Period: In case the insured is not satisfied with his plan benefits or terms and conditions, then he has the option to cancel his plan within 15 days of plan inception, given that no claims have been done yet. 

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Inclusions

• Partial Withdrawals: Every year after completing 5 plan years, partial withdrawals are allowed with a minimum value of Rs.5, 000.
• Free Switches: Every year unlimited free switches are allowed to switch between funds
• Premium Redirections: Every year redirecting future premiums is allowed into another fund
• Top-up premiums: To increase the fund value top up premiums can be paid to increase the fund value with a minimum of Rs.5000 

Additional Features or Riders

Below are the rider covers as additional top-up covers insured can enjoy with the base plan:

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

Decreasing cover: The sum assured can be decreased subject to certain terms and conditions

Systematic Switching Option: This option is available in the initial 12 months of the plan where the premiums are invested in the Liquid Fund and then a part of the fund is transferred to other funds monthly.

Exclusions

Suicide: If the insured commits suicide within first 12 months of plan inception or renewal then the settlements are done by paying the fund value as on the date of death.

Documents Required

Below are the documents which are required to be insured under Bajaj Life Fortune Gain Plan:

• Duly filled Proposal form/Application form
• Address Proof
• Age Proof
• Other KYC documents; PAN Card, Adhaar Card, Tax Details etc
• Medical History 

**Documents required are a subject to the plan options and the sum assured chosen.

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FAQ's