Bajaj Life Future Wealth Gain IV Plan

Eligibility Criteria for the Bajaj Life Future Wealth Gain IV Plan

Features of Bajaj Life Future Wealth Gain IV Plan

Here are the key features of the plan:

1. Unit-Linked Investment Formation

   The policy allows policyholders to participate in the performance of market-linked investment funds through the allotted units.

2. Portfolio Strategy Options

   The strategy has two portfolio plans:

   • Portfolio strategy: To be chosen by investors.
   • Portfolio Vehicle Strategy: Wheel of Life.

   Such strategies enable the investors to handle their money as they wish to invest it.

3. Loyalty Additions

   The regular premium fund value can receive its steady additions of loyalty after a period, as long as regular premiums are received.

4. Return Of Mortality Charges (ROMC)

   Once the policy matures, the sum of the mortality charges paid on that policy can be returned to the fund value, subject to certain conditions.

5. Top-Up Premium Facility

   Top-up premiums allow policyholders to invest more over the policy term. The Bajaj Life ULIP Plan allows policyholders to invest in different funds based on their financial goals and risk preferences.

6. Part-time Withdrawal Facility

   Policyholders can also withdraw a fraction of the fund value after the lock-in period, subject to the policy terms.

Benefits Of The Bajaj Life Future Wealth Gain IV Plan

Below are the key benefits available under this plan:

1. Death Benefit

   In case of the life assured’s death during the policy term, the nominee receives the higher of:

   • Prevailing sum assured or regular premium fund value
   • Plus, the higher of the top-up sum assured or the top-up premium fund value

   The benefit is subject to a minimum guaranteed death benefit of 105% of total premiums paid.

2. Maturity Benefit

   In case the life assured is alive until the expiry of the policy term, the policy holder will be allowed to obtain the value of the total fund that has been deposited in the policy over the years, including any investment profits that have been made within the period of the policy as a maturity benefit. 

3. Regular Premium Fund Value

   Value of Top-Up Premium Fund (where applicable). The overall compensation will be determined by the performance of the selected investment funds.

4. Additional Policy Benefits

   The scheme can also offer other benefits, including the following:

   • One-period additions of loyalty.
   • At maturity of the mortality charges are returned.
   • Family benefits at will in certain circumstances.

Riders Under the Bajaj Life Future Wealth Gain IV Plan

Policy Details of the Bajaj Life Future Wealth Gain IV Plan

The following are the policy details of the Bajaj Life Future Wealth Gain IV Plan:

1. Grace Period

   A grace period of 15 days for the monthly premium mode and 30 days for other premium modes is provided for premium payment without penalty.

2. Revival

   A policy that lapses due to non-payment of premiums can generally be revived within 3 years from the first unpaid premium date, subject to the insurer’s approval.

   

3. Free Look Period

   Policyholders have 30 days from the date of receipt of the policy document to review the policy terms and cancel the policy if they disagree with the conditions.

4. Surrender

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

5. Fund Switching

   Policyholders can switch funds depending on the selected portfolio strategy and investment preference. Selecting from the best investment plans can help investors build a balanced and diversified portfolio.

Exclusions Under the Bajaj Life Future Wealth Gain IV Plan

Suicidal Cover

If the life assured dies due to suicide within 12 months from policy commencement or revival, the insurer will pay benefits as per the policy terms and applicable regulations.