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Bajaj Allianz Cash Gain Plan

Bajaj Allianz Cash Gain Plan is a Money Back Plan. This is a non unit-linked insurance traditional plan where the money is paid as pre-decided intervals.

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Tax Benefit
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Large Sum Assured
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Death Benefit
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Key Features

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This is a simple money back plan with both Death and Survival Benefits
There are 4 variants of this plan
  • Bajaj Allianz CashGain Economy: The basic package with Death Benefit = Sum Assured only
  • Bajaj Allianz CashGain Gold: With double protection with Death Benefit = 2 times Sum Assured
  • Bajaj Allianz CashGain Diamond: With triple protection with Death Benefit = 3 times Sum Assured
  • Bajaj Allianz CashGain Platinum: With quadruple protection with Death Benefit = 4 times Sum Assured
Survival Benefit is paid every 1/5th of the policy term
Optional higher cover through Riders
There is Large Sum Assured Rebate in this policy
There is an option to increase coverage upto 50% of the basic Sum Assured on each of the following happy moments in your life like marriage and child birth
This plan provides a discount for female policyholders

Benefits

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Death Benefit

n case of death of the Life Insured, the nominee receives the full Sum Assured irrespective of what payment has already been provided + accrued Bonus

  • In Bajaj Allianz CashGain Economy, Death Benefit = Sum Assured only
  • In Bajaj Allianz CashGain Gold, Death Benefit = 2 times Sum Assured
  • In Bajaj Allianz CashGain Diamond, Death Benefit = 3 times Sum Assured
  • In Bajaj Allianz CashGain Platinum, Death Benefit = 4 times Sum Assured
Survival Benefit

The Life Insured would receive The following Survival Benefit

 

 

1st Instalment- 10% of SA

2nd Instalment- 15% of SA

3rd Instalment- 25% of SA

4th Instalment- 25% of SA

Maturity Benefit- 50% of SA + Accrued Bonus

Policy Tenure

Survival Benefit Due

15 Years Policy

End of Year 3

End of Year 6

End of Year 9

End of Year 12

End of Year 15

20 Years Policy

End of Year 4

End of Year 8

End of Year 12

End of Year 16

End of Year 20

25 Years Policy

End of Year 5

End of Year 10

End of Year 15

End of Year 20

End of Year 25

30 Years Policy

End of Year 6

End of Year 12

End of Year 18

End of Year 24

End of Year 30

 

Maturity Benefit

At the maturity of the policy, the insured will get 50% of the Sum Assured along with accrued Bonus

Income Tax Benefit

Premiums paid under life insurance policy are exempted from tax under Section 80 C and maturity proceeds are exempted from tax under Section 10 (10D)

Riders

There are 4 additional riders in this plan

  • Comprehensive Accident Protection:
    •    Accidental Death Benefit
    •    Accidental Permanent Total/ Partial Disability Benefit.
    •    Premium Waiver Benefit
  • Critical Illness Benefit
  • Hospital Cash Benefit.
  • Family Income Benefit: In case of death or accidental total permanent disability of insured, all future premiums are waived and 1% of the sum assured is paid monthly.

How it works

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In this policy, if the Life Insured survives then he would receive return every 1/5th of the policy term. The first instalment is 10% of the Sum Assured, Second instalment is 10% of the Sum Assured, Third instalment is 10% of the Sum Assured, Fourth instalment is 10% of the Sum Assured and 50% of the Sum Assured is paid on maturity along with accrued Bonuses. Total 125% of the Sum Assured is paid throughout.

However, if the Life Insured dies within the policy tenure, then the nominee would receive the full Sum Assured irrespective of how much has already been paid out before and Bonus being calculated on the full Sum Assured and the policy terminates.

 

Eligibility

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Minimum

Maximum

Sum Assured (in Rs.)

50,000

No Limit

Policy Term (in years)

15

30

Premium Payment Term (in years)

15

30

Entry Age of Life Insured (in years)

 12 – 18

40 – 55

Age at Maturity (in years)

-

70

Premium (in Rs.)

Nothing Specified

Payment modes

Yearly, Half-yearly, Quarterly, Monthly and SSS

FAQs

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angle down iconWhat happens if policyholder stop paying the premium

 If you stop paying the premiums after 3 policy years, the policy acquires a Paid Up Value for a Reduced Sum Assured but the policy would be eligible for any future regular additions.

angle down iconWhat happens if policyholder want to surrender the policy

There is a Guaranteed Surrender Value after 3 policy years
Guaranteed Surrender Value = 30% of all premiums paid – 1st year’s premium

angle down iconWhat happens if policyholder want a loan against your policy

Loan facility is not available under this policy