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Bajaj Allianz Cash Gain Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.

 

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.

 

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.

 

 

Key Features of Bajaj Allianz Cash Gain Plan

 

  • 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

COMPARE THIS PLAN WITH OTHER MONEY BACK PLANS

  

Benefits you get from Bajaj Allianz Cash Gain Plan

 

Death Benefit – In 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)

 

 

Eligibility conditions and other restrictions in Bajaj Allianz Cash Gain Plan

 

 

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

 

 

Sample illustration of premium of Bajaj Allianz Cash Gain Plan

 

The below illustration is for a healthy Male (non-tobacco user) opting for a

Age = 30 years, 35 years and 40 years

Sum Assured = Rs 1,00,000 in Economy Package

Policy Term = 25 years

Bajaj Allianz Cash Gain Sample Preiums

 

Additional Features and Benefits of Bajaj Allianz Cash Gain Plan

 

Riders- There are 4 additional riders in this plan

·         Comprehensive Accident Protection:

o    Accidental Death Benefit

o    Accidental Permanent Total/ Partial Disability Benefit.

o    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.

 

 

What happens if?

 

You 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.

 

You 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

 

You want a loan against your policy – Loan facility is not available under this policy




 

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