Bajaj Life Future Wealth Gain III Plan

Eligibility Criteria for the Bajaj Life Future Wealth Gain III Plan

Features of Bajaj Life Future Wealth Gain III Plan

The plan offers several features designed to support investment growth and protection. Here are the key features of the plan:

1. Two Portfolio Strategies

   The policyholders may select either the following or

   • Portfolio Strategy Investor Selectable.
   • Wheel of Life Portfolio Strategy.

   The strategies specify the way funds are used within the period of the policy.

2. Top-Up Premium Facility

   Top-up premiums may be made as additional investments during the policy term.

3. Partial Withdrawal Option

   Part withdrawals can take place after the five-year lock-in period expires.

4. Loyalty Additions

   Other units can be added to the fund value at certain intervals in case the premiums are paid regularly. With a Bajaj Life ULIP Plan, policyholders can invest premiums in different funds while maintaining life cover.

5. Fund Booster

   Upon maturity, there is the possibility of the policyholder getting a fund booster, raising the final fund value.

Benefits of the Bajaj Life Future Wealth Gain III Plan

Below are the key benefits of the plan:

1. Death Benefit

   Upon the death of the life assured throughout the period of the policy, the nominee gets the greater of:

   • Prevailing Sum Assured and Top-Up Sum Assured.
   • Fund Value to date of death.
   • The payout will be limited to at least 105% of all premiums paid.

2. Maturity Benefit

   In case the life assured lives till the expiry of the policy term, the policyholder will get:

   • Frequent Premium Fund Value + Top-Up Premium Fund Value

   The amount of the maturity would be final based on the performance of the chosen investment funds.

3. Income Benefit (Under Wealth Plus Care Variant)

   In case the life assured passes away or is diagnosed with cancer during the payment period of the premiums, there is an option of periodic payment of an extra income benefit over the remaining period of the payment of the premiums.

Riders Under the Bajaj Life Future Wealth Gain III Plan

Riders allow policyholders to enhance coverage under the base plan:

These riders are optional and require payment of additional premiums.

Policy Details of the Bajaj Life Future Wealth Gain III Plan

1. Grace Period

   A grace period is available for premium payments:

   • 30 days for the yearly premium mode
   • 15 days for the monthly premium mode

   During this time, the policy remains active with life cover.

2. Revival

   A discontinued policy may be revived within three years from the date of the first unpaid premium, subject to the insurer’s approval and payment of due premiums.

   

3. Free Look Period

   Policyholders have 15 days (30 days for electronic or distance policies) from receiving the policy document to review and cancel the policy if the terms are not acceptable.

4. Surrender

   The policy can be surrendered at any time. If surrendered during the first five years, the fund value will be transferred to the discontinued policy fund and paid after the lock-in period.

5. Fund Switching

   Policyholders can switch units between available funds depending on their investment preferences and strategy. The best investment plans include a mix of savings plans, market-linked policies, and retirement-focused investments.

Exclusions Under the Bajaj Life Future Wealth Gain III Plan

1. Suicidal Cover

   If the life assured dies due to suicide within 12 months from the policy start date or revival date, the nominee will receive the fund value as per policy conditions.

2. Total Permanent Disability (TPD)

   Coverage for total permanent disability is provided only if the policyholder has selected a rider offering disability protection.