Description
Systematic investments and high allocations are
always a good foundation for strong insurance plan.
When coupled with ease of buying online and
simpler to understand the terms and conditions,
you can invest your money in a much smarter way.
Bajaj Allianz iGain III Insurance Plan is a complete
online life insurance plan that gives you complete
freedom to buy directly from us. Buying online is not
only simple and fast but Bajaj Allianz iGain III
Insurance Plan offers you a high allocation, which
will make sure that this unit-linked life insurance
plan offers you a great potential for high returns.
Key Benefits
Investment Options
Tax Benefits
Charges
Added Benefits
Life
Individual
Systematic investments and high allocations are
always a good foundation for strong insurance plan.
When coupled with ease of buying online and
simpler to understand the terms and conditions,
you can invest your money in a much smarter way.
Bajaj Allianz iGain III Insurance Plan is a complete
online life insurance plan that gives you complete
freedom to buy directly from us. Buying online is not
only simple and fast but Bajaj Allianz iGain III
Insurance Plan offers you a high allocation, which
will make sure that this unit-linked life insurance
plan offers you a great potential for high returns.
Bajaj Allianz iGain III Insurance Plan
Risks
“IN THIS POLICY, THE INVESTMENT RISK IN
INVESTMENT PORTFOLIO IS BORNE BY THE
POLICYHOLDER”
Ri der s ar e
not avai l abl e
The plan offers you the key benefits of:
Buy online and get high allocation of 98% from the start of the policy.
100% allocation from 6th policy year onwards
Inbuilt accidental death cover
Option to select policy term of 10/ 15 or 20 years and premium paying term of 5 years to policy term.
Automatic annual increase in sum assured from 6th policy anniversary to suit your needs.
Choice of 7 investment funds to invest in as per your risk appetite
Two investment portfolio strategies to manage your investments better; including the Wheel of Life
portfolio strategy, which will help you to balance and safeguard your investment.
Flexibility of:
i). Partial withdrawals anytime after five years from the commencement of the policy.
ii). Top-up premium payment over and above regular premiums
iii). Unlimited free switches
iv). Changing your premium paying term
v). Decrease in sum assured
vi). Changing your premium payment frequency
Optional riders to enhance your protection
Bajaj Allianz iGain III Insurance Plan is a simple to understand unit-linked life insurance plan. Premiums paid
by you are invested in fund(s) or as per the portfolio strategy of your choice after applying the applicable
premium allocation rate. Units are allocated at the prevailing unit price of the fund(s). The fund value of your
policy is the total value of units that you hold in the fund(s). The mortality charge, policy administration
charge and rider premium charges (if any) are deducted monthly through cancellation of units. Fund
Management Charge is adjusted in the unit price.
How does Bajaj Allianz iGain III Insurance Plan work?
Key Benefits of Bajaj Allianz iGain III Insurance Plan
a) Investor selectable Portfolio Strategy:
Equity
Growth
Fund II
Accelerator
Mid-Cap
Fund II
Pure
Stock Fund
Bluechip
Equity Fund
Bond Fund
Liquid Fund
Investment Objective Funds
Bajaj Allianz iGain III Insurance Plan provides you with two unique portfolio strategies, which can be chosen at
the inception of the Policy or on subsequent policy anniversary:
Investor Selectable Portfolio Strategy
Wheel Of Life Portfolio Strategy
If you want to allocate your premiums based on your personal choice and decision, you can opt for this
strategy. Bajaj Allianz iGain III Insurance Plan offers you choice of seven (7) funds to suit your investment
needs.
To provide capital appreciation through investment in
selected equity stocks that have the potential for
capital appreciation.
To achieve capital appreciation by investing in a
diversified basket of mid cap stocks and large cap
stocks. Minimum 50% of Equity Investments would be
in Mid Cap stocks
To realize a level of total income, including current
income and capital appreciation, which is consistent
with reasonable investment risk. The investment
strategy will involve a flexible policy for allocating
assets among equities, bonds and cash. The fund
strategy will be to adjust the mix between these asset
classes to capitalize on the changing financial markets
and economic conditions. The fund will adjust its
weights in equity, debt and cash depending on the
relative attractiveness of each asset class.
Capital appreciation through investment in equities
forming part of NSE NIFTY.
Provides accumulation of income through investment
in high quality fixed income securities.
Protection of the invested capital through investments
in liquid money market and short-term instruments.
0% - 40%
Asset Class
Bank Deposits
& Money
Market
Instruments*
Equities*
G Secs,
Bonds,
Fixed
Deposits*
Risk
Profile
60% - 100%
-
Very High
0% - 40%
0% - 100%
60% - 100%
0% - 100%
-
0% - 100%
Very High
High
0% - 40% 60% - 100%
-
High
0% - 100% - 0% - 100% Moderate
0% - 100% -
-
Low
What are my Investment Options and Funds?
* The exposure to money market securities may be increased to 100%, keeping in view market conditions, market opportunities, and political, economic and other
factors, depending on the perception of the Investment Manager. All changes in the asset allocation will be with the intention of protecting the interests of the
policyholders.
To specifically exclude companies dealing in
Gambling, Contests, Liquor, Entertainment (Films, TV,
etc.), Hotels, Banks and Financial Institutions.
0% - 40% 60% - 100%
-
Very High
Asset
Allocation
Fund
b) Wheel of Life Portfolio Strategy:
We provide you with “Years to maturity based portfolio management”.
At the commencement of the Policy, your premium (regular premium and top up premium, if any) would
be allocated in various funds in the proportion as mentioned below.
On each policy anniversary, we will reallocate your fund value among various funds in the proportion based
on your outstanding years to maturity.
The premiums (regular premium and top up premium, if any) paid in that particular policy year will also be
allocated in the same proportion.
All allocation & de - allocations of units shall be based on the prevailing unit price.
This will ensure that a balance is maintained between your “years to maturity” and level of risk to your
investments to optimize the returns
The rates of allocation/reallocation of your premium /fund value into various funds based on your
outstanding years to maturity will be as follows:
Years to
Maturity
Proportion in following three Funds (%)
Bluechip
Equity
Fund
Equity
Growth
Fund II
Accelerator
Mid-Cap
Fund II
Total
Bond
Fund (%)
Liquid
Fund (%)
20 20 50 30 100 0 0
19 30 50 20 100 0 0
18 30 50 20 100 0 0
17 30 50 20 100 0 0
16 30 50 20 100 0 0
15 40 40 15 95 5 0
14 40 40 10 90 10 0
13 40 40 5 85 15 0
12 40 40 0 80 20 0
11 40 35 0 75 25 0
10 40 30 0 70 30 0
9 40 25 0 65 35 0
8 40 20 0 60 40 0
7 40 15 0 55 45 0
6 40 10 0 50 50 0
5 40 0 0 40 55 5
4 30 0 0 30 60 10
3 20 0 0 20 65 15
2 10 0 0 10 70 20
1 0 0 0 0 80 20
In case of death of the life assured before attaining the age of 60 years: The death benefit payable would
be the higher of sum assured less value of partial withdrawals made in the last 24 months prior to the date of
death or the fund value as on date of receipt of intimation of death at the Company's office The death benefit
payable would be calculated separately for regular premium and top up premiums.
In case of death of the life assured on or after attaining the age of 60 years: The benefit payable would be
the higher of sum assured less value of partial withdrawals made within 24 months before attaining age 60
years and all partial withdrawals made after attaining age 60 years or the fund value as on the date of receipt
of intimation of death at the Company's office. The death benefit payable will be calculated separately for
regular premiums and top up premiums
In case of death of the life assured due to an accident after attaining age 7 years an additional sum
assured in respect of regular premium and top-up premium of the policy is payable.
The sum assured will increase by an annual premium at each policy anniversary starting from the 6th
(sixth) policy anniversary. The death benefit and the mortality charge shall be calculated referring to such
enhanced sum assured.
The policy will terminate on the death of the life assured.
Death Benefit
Maturity Benefit
On maturity, you will receive the Fund Value as on the maturity date.
Surrender Benefit
You have the option to surrender your policy anytime from the 6th (sixth) policy year. The surrender value
payable will be equal to the Fund Value as on date of surrender of the policy. The policy shall thereafter
terminate upon payment of full surrender value.
However, on discontinuance of payment of regular premium during the first five policy years, the
discontinuance value as on date of discontinuance will be equal to the regular premium fund value less
discontinuance charge, if any, plus top up premium fund value, if any
Premium Apportionment:
Under the Investor Selectable Portfolio Strategy you can choose to invest fully in any one fund or allocate
your premiums into the various funds in a proportion that suits your investment needs. The premium
apportionment to any fund must be at least 5%.
You may at any policy anniversary, change the proportion of premium to the funds you want to invest in
Under the Wheel of Life Portfolio Strategy, you will not have the option to choose the proportion. The
apportionment of the allocated premium will be as per the Wheel of Life Portfolio Strategy table.
Definitions
Fund Value: The fund value is equal to the number of units under this policy multiplied by the respective unit
price on the relevant valuation date.
Regular Premium Fund Value: is equal to the number of units pertaining to regular premium under this
policy multiplied by the respective unit price on the relevant valuation date.
Top up Premium Fund Value: is equal to the number of units pertaining to top up premium under this policy
multiplied by the respective unit price on the relevant valuation date
Unit Price: The unit price of each fund is arrived at by dividing the Net Asset Value (NAV) of the fund by the
number of units existing in the fund at the valuation date.
All requests received for any unit transaction till the cut-off time of a day shall be processed at the unit price of
the same day. The requests received after the cut-off time of a day shall be processed at the unit price of the
next day. The request for unit transaction can be premium payment/surrender / partial
withdrawal/switching/ death claim. Currently the cut-off time is 3.00pm for applicability of unit price for a
particular day.
Discontinued Policy Fund: is the fund maintained by the Company to manage the proceeds of the
discontinued policy as per the “IRDA (Treatment of Discontinued Linked Insurance Policies) Regulation,
2010”. As per this IRDA regulation the minimum guaranteed return on this fund is 3.5% per annum
compounded annually which may change from time to time as per the IRDA guidelines.
Valuation Date: We aim to value the funds on each day the financial markets are open. However, we may
value the funds less frequently in extreme circumstances, where the values of assets are too uncertain. In
such circumstances, we may defer the valuation of assets for up to 30 days until we feel that certainty as to the
value of assets is resumed. The deferment of valuation of assets will be with prior consultation with the IRDA.
You can enjoy following extra coverage by choosing the optional additional rider benefits at policy inception
or at any subsequent policy anniversary at a nominal extra cost.
a) Bajaj Allianz UL Family Income Benefit Rider (UIN 116A018V01)
b) Bajaj Allianz UL Term Rider (UIN 116A021V01)
c) Bajaj Allianz UL Waiver of Premium Benefit Rider (UIN 116A019V01)
d) Bajaj Allianz UL Critical Illness Benefit Rider (UIN 116A015V01)
e) Bajaj Allianz UL Hospital Cash Benefit Rider (UIN 116A016V01)
f) Bajaj Allianz UL Accidental Permanent Total / Partial Disability Benefit Rider (UIN 116A014V01)
Also at any policy anniversary you have the option to exclude the rider coverage but once the rider cover is
excluded cannot be included again.
If you choose any of the following riders then the minimum premium paying term should be 10 years.
1. Bajaj Allianz UL Family Income Benefit
2. Bajaj Allianz UL Term Rider
3. Bajaj Allianz UL Critical Illness Benefit Rider
4. Bajaj Allianz UL Hospital Cash Benefit Rider
(Please refer to Additional Rider Benefit brochures for more details)
Additional Rider Benefits
Computation of NAV
The unit pricing shall be computed based on whether the company is purchasing (appropriation price) or
selling (expropriation price) the assets in order to meet the day to day transactions of unit allocations and unit
redemptions i.e. the life insurer shall be required to sell/purchase the assets if unit redemptions/allocations
exceed unit allocations/redemptions at the valuation date.
When Appropriation price is Applied: The NAV of a fund shall be computed as the market value of
investment held by the fund plus the expenses incurred in the purchase of the assets plus the value of any
current assets plus any accrued income net of fund management charges (including any charge for
investment guarantee) less the value of any current liabilities less provision, if any. This gives the net asset
value of the fund. Dividing by the number of units existing at the valuation date (before any new units are
allocated), gives the unit price of the fund under consideration. This is applicable when the company is
required to purchase assets to allocate units at the valuation date.
When Expropriation price is applied: The NAV of a fund shall be computed as the market value of
investment held by the fund less the expenses incurred in the sale of the assets plus the value of any current
assets plus any accrued income net of fund management charges (including any charge for investment
guarantee) less the value of any current liabilities less provision, if any. This gives the net asset value of the
fund. Dividing by the number of units existing at the valuation date (before any units are redeemed), gives the
unit price of the fund under consideration. This is applicable when the company is required to sell assets to
redeem units at the valuation date.
Sample Illustration*
30 40 10 10 15000 150000 1,83,567/- 2,30,086/-
30 45 15 15 15000 150000 3,13,643/- 4,42,204/-
30 50 20 20 15000 150000 4,77,116/- 7,64,019/-
Age
Maturity
Age
Policy
Term
Premium
Paying Term
Premium
p.a.
Fund Value at
maturity@6%
Fund Value at
maturity@10%
*This is an indicative projection on basis of prescribed growth rate by the regulator. The above projection is based on 100% investment in 'Bond Fund' for male healthy
lives and after service tax.
Sum
Assured
Flexibilities
This plan provides you with the following flexibilities to suit your changing requirements
Switching Option
If you have chosen Investor selectable portfolio strategy:
You have the flexibility to switch units between your investment funds according to your risk appetite and
investment decisions. You can make unlimited free switches
The minimum switching amount is Rs. 5000 or the value of units in the fund to be switched from,
whichever is lower
You can switch in/out of this Portfolio Strategy at any Policy Anniversary by giving a 30-day advance
notice to us.
If you have chosen Wheel of Life portfolio strategy:
You will not have the option to switch units between funds or change the proportion of premium to
various funds
You can switch in/out of this Portfolio Strategy at any Policy Anniversary by giving a 30-day advance
notice to us.
Option to make lump sum investment
You can make lump sum investments at any time except in the last five policy years, by paying unlimited
top up premiums to enhance your fund value.
The minimum top up premium is Rs. 5,000.
The amount of top up premium paid by you would determine the top up sum assured. On payment of
top up premium, you have to choose the top up sum assured as per the following table depending upon
your current age:
Each top up premium paid by you will have a lock-in period of 5 (five) years and the lock in would apply
from the date of payment of each top up premium.
The company reserves the right to call upon for any information / documentation to verify the good
health of the life assured which may require the life assured to undergo any medical examination for this
purpose and may refuse to accept the top up premium.
Option to change the premium paying term
You have the option to change your premium paying term at any time subject to the minimum and
maximum premium paying term allowed under the product, provided all due regular premium till the
date of such request are paid. Such option should be exercised before the expiry of the existing premium
paying term. Miscellaneous charge, as mentioned in the Charges table below will be applicable for the
option.
Option to decrease sum assured
You have a choice to reduce your sum assured at any policy anniversary to the level of 115% of the regular
premium paid subject to the minimum allowed under the product.
At any policy anniversary you also have a choice to reduce your sum assured in respect of top up premium
to a minimum of 1.25 times of the top up premium for current age below 45 years and 1.1 times of the
top up premium for current age 45 years & above.
Miscellaneous charge, as mentioned in the Charges table below, will be applicable for the option.
Alteration of Premium payment frequency
You can change your premium payment frequency to yearly, half-yearly, quarterly and monthly modes at
any policy anniversary provided your premium installments under the new mode is at least equal to the
Current Age Top-Up Sum Assured Multiplier
Less than 45 years 1.25 to 5 times
Greater than or equal to 45 years 1.1 to 5 times
(The default choice is 1.25 times for current ages less than 45 years & 1.1 times for other ages)
specified minimum installment premium for the mode opted by you. Miscellaneous charge, as
mentioned in the Charges table below, will be applicable for the option
Partial Withdrawal Option
You have the option to make unlimited number of partial withdrawals, anytime after the fifth policy year
subject to:
The minimum amount of partial withdrawal is Rs. 5,000 and your regular premium fund value does not
fall below three (3) times of the annual premium (NAV) across all funds after a partial withdrawal.
All partial withdrawals will be first made from eligible top up premium fund value, if any on First in First
out (FIFO) basis. Once the eligible top up premium fund value is exhausted, further partial withdrawals
will be made from the regular premium fund value.
In Investor Selectable Portfolio Strategy, you can choose the fund(s) you want to make partial
withdrawals from.
In case of Wheel of Life Portfolio Strategy the withdrawal of units from your funds will be done in the same
proportion as the value of the Units held in that fund as on date of withdrawal. You will not have any
choice to opt the fund from which the partial withdrawal of units is to be done.
In case of minor life, partial withdrawal is allowed after attaining age 18 years
Miscellaneous charge, as mentioned in the Charges table below will be applicable for the option.
Settlement Options
You will have the option to receive the maturity benefit in installments (payable yearly, half yearly,
quarterly or monthly, at the option of the policyholder) spread over a maximum period of 5 years.
The amount paid out to the policyholder in each installment will be the outstanding regular premium
fund value and top up premium fund value, if any, as at that installment date divided by the number of
outstanding installments.
Installment payment will be made by redeeming units from the funds at the unit price applicable on the
installment date.
Investment risk during the settlement period as well will be borne by the policyholder.
No risk cover or additional rider benefit cover will be available during the period of the settlement option.
All charges except the mortality charge and rider premium charge, if any, shall be deducted through the
redemption of units from the funds during the period of the settlement option.
No partial withdrawals or switches are allowed during the subsistence of the period of the settlement
option.
Alternatively, you will have an option to withdraw the Regular Premium Fund Value and any Top Up
Premium Fund Value completely, anytime during the period of settlement option. The fund value will be
calculated as the total number of outstanding units in the policy multiplied by the unit price as on date of
complete withdrawal
Important Details of the Plan
Parameter Details
Minimum Entry Age 1 years(18 years in case of Additional Rider Benefits)
Maximum Entry Age 60 years (50 years in case of Additional Rider Benefits)
Minimum Age at Maturity 18 years
Maximum Age at Maturity 75 years (Additional Rider Benefits ceasing Age 65 years)
Policy Term 10, 15 and 20 years
Minimum Regular Premium
Maximum Regular Premium No Limit
Minimum Premium Paying Term 5 years
Maximum Premium Paying Term Policy Term
Premium Payment Frequency Yearly, half-yearly, quarterly and monthly. The monthly
mode will be allowed through ECS only
Premium Frequency factor for
alteration from yearly to other mode
Minimum Top Up Premium Rs. 5,000
Maximum Top Up Premium No Limit
Minimum Sum Assured 10 times of Annualized Premium for entry age below 45 years
7 times of Annualized Premium for entry age 45 years & above
Maximum Sum Assured Policy Term times Annualized Premium with base cover only
[Only 10 times of Annualized Premium if any Rider has been
opted for]
Mode
For Premium Paying
Term 5 to 9 years
For Premium Paying
Term 10 years and above
Yearly Rs.15,000 Rs. 10,000
Half Yearly Rs. 8,000 Rs. 6,000
Quarterly Rs. 5,000 Rs. 4,000
Monthly Rs. 1,700 Rs. 1,500
Monthly Quarterly Half yearly
1/12 1/4 1/2
What happens if you are unable to pay your regular premiums?
If you are unable to pay your regular premium before the expiry of the grace period then a notice will be
sent to you within fifteen days after the expiry of the grace period. You can choose one of the following options
within 30 days of the receipt of such notice:
I) Pay all due regular premiums and revive the policy OR
ii) Discontinue the policy without any risk cover.
If you opt to discontinue the policy or we do not get any response in writing within the stipulated period of
30 days from the date of receipt of such notice, your policy shall be converted to a discontinued policy and all
the risk cover shall cease with immediate effect.
Till the discontinuance action is taken, your policy shall continue with full risk cover including the covers
under all riders, if any, levying all appropriate charges.
If the date of discontinuance of the policy falls before the fifth policy anniversary the discontinuance value
on the date of discontinuance of the policy shall be transferred to the discontinued policy fund and the
discontinuance value shall accumulate at the interest rate credited to the discontinued policy fund. Such
accumulated discontinuance value shall be paid to you after the fifth policy year. In case of death of the life
assured before the fifth policy anniversary the accumulated discontinuance value as on date of intimation
of death shall be payable.
If the date of discontinuance of the policy falls on or after the end of the fifth policy year the fund value as on
date of discontinuance of the policy shall be paid to you and the policy shall terminate immediately.
The discontinuance charge for different policy year are given in the table below:
Foreclosure
If, after five policy years, the regular premium fund value becomes insufficient to deduct all applicable
charges under the policy, then the policy shall be foreclosed and the surrender value as on date of such
foreclosure will be paid immediately and the policy will be terminated.
Where due date of First Unpaid
Premium falls in policy year
AP up to 25000/- AP above 25000/-
1
2
3
4
5 & above
Lower of 20% of (AP or RPFV)
subject to maximum of Rs. 3,000
Lower of 15% of (AP or RPFV)
subject to maximum of Rs. 2,000
Lower of 10% of (AP or RPFV)
subject to maximum of Rs. 1,500
Lower of 5% of (AP or RPFV)
subject to maximum of Rs. 1,000
Nil
Lower of 6% of (AP or RPFV)
subject to maximum of Rs. 6,000
Lower of 4% of (AP or RPFV)
subject to maximum of Rs. 5,000
Lower of 3% of (AP or RPFV)
subject to maximum of Rs. 4,000
Lower of 2% of (AP or RPFV)
subject to maximum of Rs. 2,000
Nil
Where: AP – Annual Premium and RPFV – Regular Premium Fund Value
No discontinuance charge will be applied on units in respect of Top-up premium
Revival
Revival or reinstatement of the discontinued policy is not allowed.
Days of Grace
A grace period of 30 days for all modes other than monthly mode and 15 days for monthly mode is allowed
Termination Conditions
This Policy shall automatically terminate on the earlier occurrence of either of the following events:
The units in the policy are fully surrendered;
Upon death of the life assured;
Upon Maturity
Upon payment of discontinuance value
Upon foreclosure.
Fund Access – Policy Loan
Policy Loan is not available under this Plan.
Tax Benefits
Premium Paid are eligible for tax benefits under section 80C and maturity Benefit , death benefit and
surrender value are eligible for Tax benefits under Section 10(10)D of the Income Tax Act subject to the
provision stated therein.
Free Look Period
Within 15 days from the date of receipt of the policy, you have the option to review the terms and conditions
and return the policy, if you disagree to any of the terms & conditions, stating the reasons for your objections.
You will be entitled to a refund of the premium paid, subject only to a deduction of a proportionate risk
premium for the period on cover and the expenses incurred on medical examination and stamp duty charges.
The refund paid to you will also be reduced or increased (as applicable) by the amount of any reduction or
increase in the fund value, if any, due to a fall or rise in the unit price between the date of allocation and
redemption of units (without reference to any premium allocation rate or charges).
Charges table
Details
Premium
Allocation
charges
All top up premiums will have a allocation rate of 99%
Policy
Administration
Charge (PAC)
Rs. 32 per month inflating at 5% at each policy anniversary
The charge will be deducted at each monthly anniversary by cancellation of units.
Fund
Management
Charge (FMC)
Surrender Charge
(after 5th year)
NIL
Switching Charge
NIL
Miscellaneous
Charge
The miscellaneous charge of Rs.100/- per transaction in respect of change in
premium paying term, change in premium payment frequency, decrease in sum
assured, partial withdrawal or issuance of copy of policy document will be charged.
Mortality Charge
Mortality Charge will be deducted at each monthly anniversary by cancellation of
units. Sample mortality charges per annum per thousand of sum at risk for a healthy
male life is shown below:
Age (yrs) 20 30 40 50
Rs. 1.72 1.91 3.14 7.37
What are the Charges under the Plan?
Premium Allocation Charge 2.0% 0%
1 to 5 6 onwards
Regular Premium due in Policy Year
Fund
Fund Management Charge per annum
(as %age of fund value)
Equity Growth Fund II 1.35%
Accelerator Mid Cap Fund II 1.35%
Pure Stock Fund 1.35%
Asset Allocation Fund 1.25%
Bluechip Equity Fund 1.25%
Liquid Fund 0.95%
Bond Fund 0.95%
This charge would be adjusted in the unit price.
Sum at risk is equal to Regular Premium Sum assured minus Regular Premium Fund
Value Plus Top Up Premium Sum assured minus Top Up Premium Fund Value
An additional risk charge of Re. 1.00 per thousand of sum assured will be charged
towards the inbuilt accidental death cover.
Rider Charge Please refer to Additional Rider Benefit brochures for rider charge details
Service Tax
Service tax will be applicable on mortality charge, rider premium charge (if any)
and fund management charge.
Revision of Charges
The Company will give a written notice of three months to the policyholders for any revision of charges after
taking approval from the Insurance Regulatory and Development Authority. The Policyholder/Life Assured
who does not agree with the modified charges shall be allowed to withdraw the units immediately or at the
end of 5th policy anniversary whichever is later at the prevailing unit price and the policy shall terminate
thereafter.
Exclusions
General Exclusion:
In case the life assured attempts to suicide within one year of the date of commencement of the policy, the
amount payable as death benefit would be the fund value as on date of intimation of such death.
Exclusions for the payment of additional sum assured on death due to accident:
The additional sum assured on accidental death shall not be payable in the following cases, if death is directly
or indirectly caused by, related to, or arises from:
i) Committing any breach of law;
ii) Being under the influence of alcohol or drugs other than prescribed by and taken in accordance with the
directions of a registered medical practitioner;
iii) Self-inflicted injuries whilst sane or insane;
iv) Participation in any naval, military or air force operation;
v) Participating in or training for any dangerous or hazardous sport or competition or riding or driving in any
form of race or competition;
vi) Suicide;
vii) Participation in aviation, gliding or any form of aerial flight other than as a fare paying passenger of a
recognized airline on regular routes and on a scheduled timetable;
viii) Failure to seek or follow medical advice;
ix) War, invasion, civil war, rebellion, riot.
x) Age of the life assured is less than 7 years.
Risks of Investment in the Units of the Plan
The Proposer/Life Assured should be aware that the investment in the Units is subject to the following,
amongst other risks and should fully understand the same before entering into any unit linked insurance
contract with the Company.
Unit Linked Life Insurance products are different from the traditional insurance products and are subject to
the risk factors.
The premium paid in unit linked life insurance policies are subject to investment risks associated with
capital markets and the Unit Price of the units may go up or down based on the performance of the fund and
factors influencing the capital market and the insured/policyholder is responsible for his/her decisions.
Bajaj Allianz Life Insurance is only the name of the insurance company and Bajaj Allianz iGain III Insurance
Plan is only the name of the plan and does not in any way indicate the quality of the policy, its future
prospects or returns.
Please know the associated risks and the applicable charges from your policy document.
Investor Selectable Portfolio Strategy & Wheel of life Portfolio Strategy and Bluechip Equity Fund,
Accelerator Mid-Cap Fund II, Equity Growth Fund II, Pure Stock Fund, Asset Allocation Fund, Bond Fund &
Liquid Fund are the names of the Portfolio Strategies/funds offered currently with Bajaj Allianz iGain III
Insurance Plan, and in any manner does not indicate the quality of the respective Portfolio Strategies/funds,
their future prospects or returns.
The investments in the Units are subject to market and other risks and there can be no assurance that the
objectivities of any of the funds will be achieved.
The Equity Growth Fund II, Bluechip Equity Fund, Accelerator Mid-Cap Fund II, Pure Stock Fund, Asset
Allocation Fund, Bond Fund and Liquid fund do not offer any guaranteed or assured return.
All benefits payable under the Policy are subject to the tax laws and other financial enactments, as they exist
from time to time.
The past performance of the funds of the company is not necessarily an indication of the future
performance of any of these funds.
Prohibition of Rebate: Section 41 of the Insurance Act, 1938 states:
No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out
or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate
of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall
any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be
allowed in accordance with the published prospectuses or tables of the insurer.
Any person making default in complying with the provision of this section shall be punishable with a fine that
may extend to five hundred rupees.
Why Bajaj Allianz Life Insurance?
Bajaj Allianz is a joint venture between Bajaj Finserv Limited and Allianz SE. Both enjoy a reputation of
expertise, stability and strength. This joint venture company incorporates global expertise with local
experience. The comprehensive, innovative solutions combine the technical expertise and experience of the
119 year old Allianz SE, and indepth market knowledge and goodwill of “Bajaj brand” in India. Competitive
pricing and quick honest response have earned the company the customer's trust and market leadership in a
very short time.
B
J
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3
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3
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8
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1
3
Section 45
No Policy of life insurance effected after the coming into force of this Act shall, after the expiry of two years from the date on which
it was effected, be called in question by an insurer on the ground that a statement made in the proposal for insurance or in any
report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the policy, was
inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was
material to disclose and that it was fraudulently made by the policy-holder and that the policy holder knew at the time of making
it that the statement was false or that it suppressed facts which it was material to disclose
Bajaj Allianz iGain III Insurance Plan is Unit Linked Insurance Plan (ULIP). Investment in ULIPs is subject to risks associated with the capital markets.
The policyholder is solely responsible for his/her decisions while investing in ULIPs. Bajaj Allianz Life Insurance and Bajaj Allianz iGain III Insurance
Plan are the names of the company and the product respectively and do not in any way indicate the quality of the product and its future prospects
or returns. All Charges applicable shall be levied. The policy document is the conclusive evidence of contract and provides in details all the
conditions and exclusions related to Bajaj Allianz iGain III Insurance Plan.
Contact Details
Unique Identification Number (UIN ) :
Bajaj Allianz iGain III
Bajaj Allianz UL Family Income Benefit Rider (UIN 116A018V01)
Bajaj Allianz UL Term Rider (UIN 116A021V01)
Bajaj Allianz UL Waiver of Premium Benefit Rider (UIN 116A019V01)
Bajaj Allianz UL Critical Illness Benefit Rider (UIN 116A015V01)
Bajaj Allianz UL Hospital Cash Benefit Rider (UIN 116A016V01)
Bajaj Allianz UL Accidental Permanent Total / Partial Disability Benefit Rider (UIN 116A014V01)
(UIN 116L099V01)
For More Information: Kindly consult our “Insurance Consultant” or call us today on the TOLL FREE numbers mentioned
above. This brochure should be read in conjunction with the Benefit Illustration and Policy Exclusions. Please ask for the
same along with the quotation.
Bajaj Allianz Life Insurance Company Limited,
G.E. Plaza, Airport Road, Yerawada, Pune - 411 006.
Tel: (020) 6602 6777. Fax: (020) 6602 6789.
www.bajajallianz.com
SMS LIFE 56070
For any queries please contact:
BSNL/MTNL
(Toll Free)
1800 22 5858
Other
(Chargeble)
<Prefix City Code> 3030 5858
Any Mobile & Landline
(Toll Free)
1800 209 5858
email: [email protected] chat: bajajallianzlife.co.in/chat
doc_815007373.pdf
Systematic investments and high allocations are
always a good foundation for strong insurance plan.
When coupled with ease of buying online and
simpler to understand the terms and conditions,
you can invest your money in a much smarter way.
Bajaj Allianz iGain III Insurance Plan is a complete
online life insurance plan that gives you complete
freedom to buy directly from us. Buying online is not
only simple and fast but Bajaj Allianz iGain III
Insurance Plan offers you a high allocation, which
will make sure that this unit-linked life insurance
plan offers you a great potential for high returns.
Key Benefits
Investment Options
Tax Benefits
Charges
Added Benefits
Life
Individual
Systematic investments and high allocations are
always a good foundation for strong insurance plan.
When coupled with ease of buying online and
simpler to understand the terms and conditions,
you can invest your money in a much smarter way.
Bajaj Allianz iGain III Insurance Plan is a complete
online life insurance plan that gives you complete
freedom to buy directly from us. Buying online is not
only simple and fast but Bajaj Allianz iGain III
Insurance Plan offers you a high allocation, which
will make sure that this unit-linked life insurance
plan offers you a great potential for high returns.
Bajaj Allianz iGain III Insurance Plan
Risks
“IN THIS POLICY, THE INVESTMENT RISK IN
INVESTMENT PORTFOLIO IS BORNE BY THE
POLICYHOLDER”
Ri der s ar e
not avai l abl e
The plan offers you the key benefits of:
Buy online and get high allocation of 98% from the start of the policy.
100% allocation from 6th policy year onwards
Inbuilt accidental death cover
Option to select policy term of 10/ 15 or 20 years and premium paying term of 5 years to policy term.
Automatic annual increase in sum assured from 6th policy anniversary to suit your needs.
Choice of 7 investment funds to invest in as per your risk appetite
Two investment portfolio strategies to manage your investments better; including the Wheel of Life
portfolio strategy, which will help you to balance and safeguard your investment.
Flexibility of:
i). Partial withdrawals anytime after five years from the commencement of the policy.
ii). Top-up premium payment over and above regular premiums
iii). Unlimited free switches
iv). Changing your premium paying term
v). Decrease in sum assured
vi). Changing your premium payment frequency
Optional riders to enhance your protection
Bajaj Allianz iGain III Insurance Plan is a simple to understand unit-linked life insurance plan. Premiums paid
by you are invested in fund(s) or as per the portfolio strategy of your choice after applying the applicable
premium allocation rate. Units are allocated at the prevailing unit price of the fund(s). The fund value of your
policy is the total value of units that you hold in the fund(s). The mortality charge, policy administration
charge and rider premium charges (if any) are deducted monthly through cancellation of units. Fund
Management Charge is adjusted in the unit price.
How does Bajaj Allianz iGain III Insurance Plan work?
Key Benefits of Bajaj Allianz iGain III Insurance Plan
a) Investor selectable Portfolio Strategy:
Equity
Growth
Fund II
Accelerator
Mid-Cap
Fund II
Pure
Stock Fund
Bluechip
Equity Fund
Bond Fund
Liquid Fund
Investment Objective Funds
Bajaj Allianz iGain III Insurance Plan provides you with two unique portfolio strategies, which can be chosen at
the inception of the Policy or on subsequent policy anniversary:
Investor Selectable Portfolio Strategy
Wheel Of Life Portfolio Strategy
If you want to allocate your premiums based on your personal choice and decision, you can opt for this
strategy. Bajaj Allianz iGain III Insurance Plan offers you choice of seven (7) funds to suit your investment
needs.
To provide capital appreciation through investment in
selected equity stocks that have the potential for
capital appreciation.
To achieve capital appreciation by investing in a
diversified basket of mid cap stocks and large cap
stocks. Minimum 50% of Equity Investments would be
in Mid Cap stocks
To realize a level of total income, including current
income and capital appreciation, which is consistent
with reasonable investment risk. The investment
strategy will involve a flexible policy for allocating
assets among equities, bonds and cash. The fund
strategy will be to adjust the mix between these asset
classes to capitalize on the changing financial markets
and economic conditions. The fund will adjust its
weights in equity, debt and cash depending on the
relative attractiveness of each asset class.
Capital appreciation through investment in equities
forming part of NSE NIFTY.
Provides accumulation of income through investment
in high quality fixed income securities.
Protection of the invested capital through investments
in liquid money market and short-term instruments.
0% - 40%
Asset Class
Bank Deposits
& Money
Market
Instruments*
Equities*
G Secs,
Bonds,
Fixed
Deposits*
Risk
Profile
60% - 100%
-
Very High
0% - 40%
0% - 100%
60% - 100%
0% - 100%
-
0% - 100%
Very High
High
0% - 40% 60% - 100%
-
High
0% - 100% - 0% - 100% Moderate
0% - 100% -
-
Low
What are my Investment Options and Funds?
* The exposure to money market securities may be increased to 100%, keeping in view market conditions, market opportunities, and political, economic and other
factors, depending on the perception of the Investment Manager. All changes in the asset allocation will be with the intention of protecting the interests of the
policyholders.
To specifically exclude companies dealing in
Gambling, Contests, Liquor, Entertainment (Films, TV,
etc.), Hotels, Banks and Financial Institutions.
0% - 40% 60% - 100%
-
Very High
Asset
Allocation
Fund
b) Wheel of Life Portfolio Strategy:
We provide you with “Years to maturity based portfolio management”.
At the commencement of the Policy, your premium (regular premium and top up premium, if any) would
be allocated in various funds in the proportion as mentioned below.
On each policy anniversary, we will reallocate your fund value among various funds in the proportion based
on your outstanding years to maturity.
The premiums (regular premium and top up premium, if any) paid in that particular policy year will also be
allocated in the same proportion.
All allocation & de - allocations of units shall be based on the prevailing unit price.
This will ensure that a balance is maintained between your “years to maturity” and level of risk to your
investments to optimize the returns
The rates of allocation/reallocation of your premium /fund value into various funds based on your
outstanding years to maturity will be as follows:
Years to
Maturity
Proportion in following three Funds (%)
Bluechip
Equity
Fund
Equity
Growth
Fund II
Accelerator
Mid-Cap
Fund II
Total
Bond
Fund (%)
Liquid
Fund (%)
20 20 50 30 100 0 0
19 30 50 20 100 0 0
18 30 50 20 100 0 0
17 30 50 20 100 0 0
16 30 50 20 100 0 0
15 40 40 15 95 5 0
14 40 40 10 90 10 0
13 40 40 5 85 15 0
12 40 40 0 80 20 0
11 40 35 0 75 25 0
10 40 30 0 70 30 0
9 40 25 0 65 35 0
8 40 20 0 60 40 0
7 40 15 0 55 45 0
6 40 10 0 50 50 0
5 40 0 0 40 55 5
4 30 0 0 30 60 10
3 20 0 0 20 65 15
2 10 0 0 10 70 20
1 0 0 0 0 80 20
In case of death of the life assured before attaining the age of 60 years: The death benefit payable would
be the higher of sum assured less value of partial withdrawals made in the last 24 months prior to the date of
death or the fund value as on date of receipt of intimation of death at the Company's office The death benefit
payable would be calculated separately for regular premium and top up premiums.
In case of death of the life assured on or after attaining the age of 60 years: The benefit payable would be
the higher of sum assured less value of partial withdrawals made within 24 months before attaining age 60
years and all partial withdrawals made after attaining age 60 years or the fund value as on the date of receipt
of intimation of death at the Company's office. The death benefit payable will be calculated separately for
regular premiums and top up premiums
In case of death of the life assured due to an accident after attaining age 7 years an additional sum
assured in respect of regular premium and top-up premium of the policy is payable.
The sum assured will increase by an annual premium at each policy anniversary starting from the 6th
(sixth) policy anniversary. The death benefit and the mortality charge shall be calculated referring to such
enhanced sum assured.
The policy will terminate on the death of the life assured.
Death Benefit
Maturity Benefit
On maturity, you will receive the Fund Value as on the maturity date.
Surrender Benefit
You have the option to surrender your policy anytime from the 6th (sixth) policy year. The surrender value
payable will be equal to the Fund Value as on date of surrender of the policy. The policy shall thereafter
terminate upon payment of full surrender value.
However, on discontinuance of payment of regular premium during the first five policy years, the
discontinuance value as on date of discontinuance will be equal to the regular premium fund value less
discontinuance charge, if any, plus top up premium fund value, if any
Premium Apportionment:
Under the Investor Selectable Portfolio Strategy you can choose to invest fully in any one fund or allocate
your premiums into the various funds in a proportion that suits your investment needs. The premium
apportionment to any fund must be at least 5%.
You may at any policy anniversary, change the proportion of premium to the funds you want to invest in
Under the Wheel of Life Portfolio Strategy, you will not have the option to choose the proportion. The
apportionment of the allocated premium will be as per the Wheel of Life Portfolio Strategy table.
Definitions
Fund Value: The fund value is equal to the number of units under this policy multiplied by the respective unit
price on the relevant valuation date.
Regular Premium Fund Value: is equal to the number of units pertaining to regular premium under this
policy multiplied by the respective unit price on the relevant valuation date.
Top up Premium Fund Value: is equal to the number of units pertaining to top up premium under this policy
multiplied by the respective unit price on the relevant valuation date
Unit Price: The unit price of each fund is arrived at by dividing the Net Asset Value (NAV) of the fund by the
number of units existing in the fund at the valuation date.
All requests received for any unit transaction till the cut-off time of a day shall be processed at the unit price of
the same day. The requests received after the cut-off time of a day shall be processed at the unit price of the
next day. The request for unit transaction can be premium payment/surrender / partial
withdrawal/switching/ death claim. Currently the cut-off time is 3.00pm for applicability of unit price for a
particular day.
Discontinued Policy Fund: is the fund maintained by the Company to manage the proceeds of the
discontinued policy as per the “IRDA (Treatment of Discontinued Linked Insurance Policies) Regulation,
2010”. As per this IRDA regulation the minimum guaranteed return on this fund is 3.5% per annum
compounded annually which may change from time to time as per the IRDA guidelines.
Valuation Date: We aim to value the funds on each day the financial markets are open. However, we may
value the funds less frequently in extreme circumstances, where the values of assets are too uncertain. In
such circumstances, we may defer the valuation of assets for up to 30 days until we feel that certainty as to the
value of assets is resumed. The deferment of valuation of assets will be with prior consultation with the IRDA.
You can enjoy following extra coverage by choosing the optional additional rider benefits at policy inception
or at any subsequent policy anniversary at a nominal extra cost.
a) Bajaj Allianz UL Family Income Benefit Rider (UIN 116A018V01)
b) Bajaj Allianz UL Term Rider (UIN 116A021V01)
c) Bajaj Allianz UL Waiver of Premium Benefit Rider (UIN 116A019V01)
d) Bajaj Allianz UL Critical Illness Benefit Rider (UIN 116A015V01)
e) Bajaj Allianz UL Hospital Cash Benefit Rider (UIN 116A016V01)
f) Bajaj Allianz UL Accidental Permanent Total / Partial Disability Benefit Rider (UIN 116A014V01)
Also at any policy anniversary you have the option to exclude the rider coverage but once the rider cover is
excluded cannot be included again.
If you choose any of the following riders then the minimum premium paying term should be 10 years.
1. Bajaj Allianz UL Family Income Benefit
2. Bajaj Allianz UL Term Rider
3. Bajaj Allianz UL Critical Illness Benefit Rider
4. Bajaj Allianz UL Hospital Cash Benefit Rider
(Please refer to Additional Rider Benefit brochures for more details)
Additional Rider Benefits
Computation of NAV
The unit pricing shall be computed based on whether the company is purchasing (appropriation price) or
selling (expropriation price) the assets in order to meet the day to day transactions of unit allocations and unit
redemptions i.e. the life insurer shall be required to sell/purchase the assets if unit redemptions/allocations
exceed unit allocations/redemptions at the valuation date.
When Appropriation price is Applied: The NAV of a fund shall be computed as the market value of
investment held by the fund plus the expenses incurred in the purchase of the assets plus the value of any
current assets plus any accrued income net of fund management charges (including any charge for
investment guarantee) less the value of any current liabilities less provision, if any. This gives the net asset
value of the fund. Dividing by the number of units existing at the valuation date (before any new units are
allocated), gives the unit price of the fund under consideration. This is applicable when the company is
required to purchase assets to allocate units at the valuation date.
When Expropriation price is applied: The NAV of a fund shall be computed as the market value of
investment held by the fund less the expenses incurred in the sale of the assets plus the value of any current
assets plus any accrued income net of fund management charges (including any charge for investment
guarantee) less the value of any current liabilities less provision, if any. This gives the net asset value of the
fund. Dividing by the number of units existing at the valuation date (before any units are redeemed), gives the
unit price of the fund under consideration. This is applicable when the company is required to sell assets to
redeem units at the valuation date.
Sample Illustration*
30 40 10 10 15000 150000 1,83,567/- 2,30,086/-
30 45 15 15 15000 150000 3,13,643/- 4,42,204/-
30 50 20 20 15000 150000 4,77,116/- 7,64,019/-
Age
Maturity
Age
Policy
Term
Premium
Paying Term
Premium
p.a.
Fund Value at
maturity@6%
Fund Value at
maturity@10%
*This is an indicative projection on basis of prescribed growth rate by the regulator. The above projection is based on 100% investment in 'Bond Fund' for male healthy
lives and after service tax.
Sum
Assured
Flexibilities
This plan provides you with the following flexibilities to suit your changing requirements
Switching Option
If you have chosen Investor selectable portfolio strategy:
You have the flexibility to switch units between your investment funds according to your risk appetite and
investment decisions. You can make unlimited free switches
The minimum switching amount is Rs. 5000 or the value of units in the fund to be switched from,
whichever is lower
You can switch in/out of this Portfolio Strategy at any Policy Anniversary by giving a 30-day advance
notice to us.
If you have chosen Wheel of Life portfolio strategy:
You will not have the option to switch units between funds or change the proportion of premium to
various funds
You can switch in/out of this Portfolio Strategy at any Policy Anniversary by giving a 30-day advance
notice to us.
Option to make lump sum investment
You can make lump sum investments at any time except in the last five policy years, by paying unlimited
top up premiums to enhance your fund value.
The minimum top up premium is Rs. 5,000.
The amount of top up premium paid by you would determine the top up sum assured. On payment of
top up premium, you have to choose the top up sum assured as per the following table depending upon
your current age:
Each top up premium paid by you will have a lock-in period of 5 (five) years and the lock in would apply
from the date of payment of each top up premium.
The company reserves the right to call upon for any information / documentation to verify the good
health of the life assured which may require the life assured to undergo any medical examination for this
purpose and may refuse to accept the top up premium.
Option to change the premium paying term
You have the option to change your premium paying term at any time subject to the minimum and
maximum premium paying term allowed under the product, provided all due regular premium till the
date of such request are paid. Such option should be exercised before the expiry of the existing premium
paying term. Miscellaneous charge, as mentioned in the Charges table below will be applicable for the
option.
Option to decrease sum assured
You have a choice to reduce your sum assured at any policy anniversary to the level of 115% of the regular
premium paid subject to the minimum allowed under the product.
At any policy anniversary you also have a choice to reduce your sum assured in respect of top up premium
to a minimum of 1.25 times of the top up premium for current age below 45 years and 1.1 times of the
top up premium for current age 45 years & above.
Miscellaneous charge, as mentioned in the Charges table below, will be applicable for the option.
Alteration of Premium payment frequency
You can change your premium payment frequency to yearly, half-yearly, quarterly and monthly modes at
any policy anniversary provided your premium installments under the new mode is at least equal to the
Current Age Top-Up Sum Assured Multiplier
Less than 45 years 1.25 to 5 times
Greater than or equal to 45 years 1.1 to 5 times
(The default choice is 1.25 times for current ages less than 45 years & 1.1 times for other ages)
specified minimum installment premium for the mode opted by you. Miscellaneous charge, as
mentioned in the Charges table below, will be applicable for the option
Partial Withdrawal Option
You have the option to make unlimited number of partial withdrawals, anytime after the fifth policy year
subject to:
The minimum amount of partial withdrawal is Rs. 5,000 and your regular premium fund value does not
fall below three (3) times of the annual premium (NAV) across all funds after a partial withdrawal.
All partial withdrawals will be first made from eligible top up premium fund value, if any on First in First
out (FIFO) basis. Once the eligible top up premium fund value is exhausted, further partial withdrawals
will be made from the regular premium fund value.
In Investor Selectable Portfolio Strategy, you can choose the fund(s) you want to make partial
withdrawals from.
In case of Wheel of Life Portfolio Strategy the withdrawal of units from your funds will be done in the same
proportion as the value of the Units held in that fund as on date of withdrawal. You will not have any
choice to opt the fund from which the partial withdrawal of units is to be done.
In case of minor life, partial withdrawal is allowed after attaining age 18 years
Miscellaneous charge, as mentioned in the Charges table below will be applicable for the option.
Settlement Options
You will have the option to receive the maturity benefit in installments (payable yearly, half yearly,
quarterly or monthly, at the option of the policyholder) spread over a maximum period of 5 years.
The amount paid out to the policyholder in each installment will be the outstanding regular premium
fund value and top up premium fund value, if any, as at that installment date divided by the number of
outstanding installments.
Installment payment will be made by redeeming units from the funds at the unit price applicable on the
installment date.
Investment risk during the settlement period as well will be borne by the policyholder.
No risk cover or additional rider benefit cover will be available during the period of the settlement option.
All charges except the mortality charge and rider premium charge, if any, shall be deducted through the
redemption of units from the funds during the period of the settlement option.
No partial withdrawals or switches are allowed during the subsistence of the period of the settlement
option.
Alternatively, you will have an option to withdraw the Regular Premium Fund Value and any Top Up
Premium Fund Value completely, anytime during the period of settlement option. The fund value will be
calculated as the total number of outstanding units in the policy multiplied by the unit price as on date of
complete withdrawal
Important Details of the Plan
Parameter Details
Minimum Entry Age 1 years(18 years in case of Additional Rider Benefits)
Maximum Entry Age 60 years (50 years in case of Additional Rider Benefits)
Minimum Age at Maturity 18 years
Maximum Age at Maturity 75 years (Additional Rider Benefits ceasing Age 65 years)
Policy Term 10, 15 and 20 years
Minimum Regular Premium
Maximum Regular Premium No Limit
Minimum Premium Paying Term 5 years
Maximum Premium Paying Term Policy Term
Premium Payment Frequency Yearly, half-yearly, quarterly and monthly. The monthly
mode will be allowed through ECS only
Premium Frequency factor for
alteration from yearly to other mode
Minimum Top Up Premium Rs. 5,000
Maximum Top Up Premium No Limit
Minimum Sum Assured 10 times of Annualized Premium for entry age below 45 years
7 times of Annualized Premium for entry age 45 years & above
Maximum Sum Assured Policy Term times Annualized Premium with base cover only
[Only 10 times of Annualized Premium if any Rider has been
opted for]
Mode
For Premium Paying
Term 5 to 9 years
For Premium Paying
Term 10 years and above
Yearly Rs.15,000 Rs. 10,000
Half Yearly Rs. 8,000 Rs. 6,000
Quarterly Rs. 5,000 Rs. 4,000
Monthly Rs. 1,700 Rs. 1,500
Monthly Quarterly Half yearly
1/12 1/4 1/2
What happens if you are unable to pay your regular premiums?
If you are unable to pay your regular premium before the expiry of the grace period then a notice will be
sent to you within fifteen days after the expiry of the grace period. You can choose one of the following options
within 30 days of the receipt of such notice:
I) Pay all due regular premiums and revive the policy OR
ii) Discontinue the policy without any risk cover.
If you opt to discontinue the policy or we do not get any response in writing within the stipulated period of
30 days from the date of receipt of such notice, your policy shall be converted to a discontinued policy and all
the risk cover shall cease with immediate effect.
Till the discontinuance action is taken, your policy shall continue with full risk cover including the covers
under all riders, if any, levying all appropriate charges.
If the date of discontinuance of the policy falls before the fifth policy anniversary the discontinuance value
on the date of discontinuance of the policy shall be transferred to the discontinued policy fund and the
discontinuance value shall accumulate at the interest rate credited to the discontinued policy fund. Such
accumulated discontinuance value shall be paid to you after the fifth policy year. In case of death of the life
assured before the fifth policy anniversary the accumulated discontinuance value as on date of intimation
of death shall be payable.
If the date of discontinuance of the policy falls on or after the end of the fifth policy year the fund value as on
date of discontinuance of the policy shall be paid to you and the policy shall terminate immediately.
The discontinuance charge for different policy year are given in the table below:
Foreclosure
If, after five policy years, the regular premium fund value becomes insufficient to deduct all applicable
charges under the policy, then the policy shall be foreclosed and the surrender value as on date of such
foreclosure will be paid immediately and the policy will be terminated.
Where due date of First Unpaid
Premium falls in policy year
AP up to 25000/- AP above 25000/-
1
2
3
4
5 & above
Lower of 20% of (AP or RPFV)
subject to maximum of Rs. 3,000
Lower of 15% of (AP or RPFV)
subject to maximum of Rs. 2,000
Lower of 10% of (AP or RPFV)
subject to maximum of Rs. 1,500
Lower of 5% of (AP or RPFV)
subject to maximum of Rs. 1,000
Nil
Lower of 6% of (AP or RPFV)
subject to maximum of Rs. 6,000
Lower of 4% of (AP or RPFV)
subject to maximum of Rs. 5,000
Lower of 3% of (AP or RPFV)
subject to maximum of Rs. 4,000
Lower of 2% of (AP or RPFV)
subject to maximum of Rs. 2,000
Nil
Where: AP – Annual Premium and RPFV – Regular Premium Fund Value
No discontinuance charge will be applied on units in respect of Top-up premium
Revival
Revival or reinstatement of the discontinued policy is not allowed.
Days of Grace
A grace period of 30 days for all modes other than monthly mode and 15 days for monthly mode is allowed
Termination Conditions
This Policy shall automatically terminate on the earlier occurrence of either of the following events:
The units in the policy are fully surrendered;
Upon death of the life assured;
Upon Maturity
Upon payment of discontinuance value
Upon foreclosure.
Fund Access – Policy Loan
Policy Loan is not available under this Plan.
Tax Benefits
Premium Paid are eligible for tax benefits under section 80C and maturity Benefit , death benefit and
surrender value are eligible for Tax benefits under Section 10(10)D of the Income Tax Act subject to the
provision stated therein.
Free Look Period
Within 15 days from the date of receipt of the policy, you have the option to review the terms and conditions
and return the policy, if you disagree to any of the terms & conditions, stating the reasons for your objections.
You will be entitled to a refund of the premium paid, subject only to a deduction of a proportionate risk
premium for the period on cover and the expenses incurred on medical examination and stamp duty charges.
The refund paid to you will also be reduced or increased (as applicable) by the amount of any reduction or
increase in the fund value, if any, due to a fall or rise in the unit price between the date of allocation and
redemption of units (without reference to any premium allocation rate or charges).
Charges table
Details
Premium
Allocation
charges
All top up premiums will have a allocation rate of 99%
Policy
Administration
Charge (PAC)
Rs. 32 per month inflating at 5% at each policy anniversary
The charge will be deducted at each monthly anniversary by cancellation of units.
Fund
Management
Charge (FMC)
Surrender Charge
(after 5th year)
NIL
Switching Charge
NIL
Miscellaneous
Charge
The miscellaneous charge of Rs.100/- per transaction in respect of change in
premium paying term, change in premium payment frequency, decrease in sum
assured, partial withdrawal or issuance of copy of policy document will be charged.
Mortality Charge
Mortality Charge will be deducted at each monthly anniversary by cancellation of
units. Sample mortality charges per annum per thousand of sum at risk for a healthy
male life is shown below:
Age (yrs) 20 30 40 50
Rs. 1.72 1.91 3.14 7.37
What are the Charges under the Plan?
Premium Allocation Charge 2.0% 0%
1 to 5 6 onwards
Regular Premium due in Policy Year
Fund
Fund Management Charge per annum
(as %age of fund value)
Equity Growth Fund II 1.35%
Accelerator Mid Cap Fund II 1.35%
Pure Stock Fund 1.35%
Asset Allocation Fund 1.25%
Bluechip Equity Fund 1.25%
Liquid Fund 0.95%
Bond Fund 0.95%
This charge would be adjusted in the unit price.
Sum at risk is equal to Regular Premium Sum assured minus Regular Premium Fund
Value Plus Top Up Premium Sum assured minus Top Up Premium Fund Value
An additional risk charge of Re. 1.00 per thousand of sum assured will be charged
towards the inbuilt accidental death cover.
Rider Charge Please refer to Additional Rider Benefit brochures for rider charge details
Service Tax
Service tax will be applicable on mortality charge, rider premium charge (if any)
and fund management charge.
Revision of Charges
The Company will give a written notice of three months to the policyholders for any revision of charges after
taking approval from the Insurance Regulatory and Development Authority. The Policyholder/Life Assured
who does not agree with the modified charges shall be allowed to withdraw the units immediately or at the
end of 5th policy anniversary whichever is later at the prevailing unit price and the policy shall terminate
thereafter.
Exclusions
General Exclusion:
In case the life assured attempts to suicide within one year of the date of commencement of the policy, the
amount payable as death benefit would be the fund value as on date of intimation of such death.
Exclusions for the payment of additional sum assured on death due to accident:
The additional sum assured on accidental death shall not be payable in the following cases, if death is directly
or indirectly caused by, related to, or arises from:
i) Committing any breach of law;
ii) Being under the influence of alcohol or drugs other than prescribed by and taken in accordance with the
directions of a registered medical practitioner;
iii) Self-inflicted injuries whilst sane or insane;
iv) Participation in any naval, military or air force operation;
v) Participating in or training for any dangerous or hazardous sport or competition or riding or driving in any
form of race or competition;
vi) Suicide;
vii) Participation in aviation, gliding or any form of aerial flight other than as a fare paying passenger of a
recognized airline on regular routes and on a scheduled timetable;
viii) Failure to seek or follow medical advice;
ix) War, invasion, civil war, rebellion, riot.
x) Age of the life assured is less than 7 years.
Risks of Investment in the Units of the Plan
The Proposer/Life Assured should be aware that the investment in the Units is subject to the following,
amongst other risks and should fully understand the same before entering into any unit linked insurance
contract with the Company.
Unit Linked Life Insurance products are different from the traditional insurance products and are subject to
the risk factors.
The premium paid in unit linked life insurance policies are subject to investment risks associated with
capital markets and the Unit Price of the units may go up or down based on the performance of the fund and
factors influencing the capital market and the insured/policyholder is responsible for his/her decisions.
Bajaj Allianz Life Insurance is only the name of the insurance company and Bajaj Allianz iGain III Insurance
Plan is only the name of the plan and does not in any way indicate the quality of the policy, its future
prospects or returns.
Please know the associated risks and the applicable charges from your policy document.
Investor Selectable Portfolio Strategy & Wheel of life Portfolio Strategy and Bluechip Equity Fund,
Accelerator Mid-Cap Fund II, Equity Growth Fund II, Pure Stock Fund, Asset Allocation Fund, Bond Fund &
Liquid Fund are the names of the Portfolio Strategies/funds offered currently with Bajaj Allianz iGain III
Insurance Plan, and in any manner does not indicate the quality of the respective Portfolio Strategies/funds,
their future prospects or returns.
The investments in the Units are subject to market and other risks and there can be no assurance that the
objectivities of any of the funds will be achieved.
The Equity Growth Fund II, Bluechip Equity Fund, Accelerator Mid-Cap Fund II, Pure Stock Fund, Asset
Allocation Fund, Bond Fund and Liquid fund do not offer any guaranteed or assured return.
All benefits payable under the Policy are subject to the tax laws and other financial enactments, as they exist
from time to time.
The past performance of the funds of the company is not necessarily an indication of the future
performance of any of these funds.
Prohibition of Rebate: Section 41 of the Insurance Act, 1938 states:
No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out
or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate
of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall
any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be
allowed in accordance with the published prospectuses or tables of the insurer.
Any person making default in complying with the provision of this section shall be punishable with a fine that
may extend to five hundred rupees.
Why Bajaj Allianz Life Insurance?
Bajaj Allianz is a joint venture between Bajaj Finserv Limited and Allianz SE. Both enjoy a reputation of
expertise, stability and strength. This joint venture company incorporates global expertise with local
experience. The comprehensive, innovative solutions combine the technical expertise and experience of the
119 year old Allianz SE, and indepth market knowledge and goodwill of “Bajaj brand” in India. Competitive
pricing and quick honest response have earned the company the customer's trust and market leadership in a
very short time.
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Section 45
No Policy of life insurance effected after the coming into force of this Act shall, after the expiry of two years from the date on which
it was effected, be called in question by an insurer on the ground that a statement made in the proposal for insurance or in any
report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the policy, was
inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was
material to disclose and that it was fraudulently made by the policy-holder and that the policy holder knew at the time of making
it that the statement was false or that it suppressed facts which it was material to disclose
Bajaj Allianz iGain III Insurance Plan is Unit Linked Insurance Plan (ULIP). Investment in ULIPs is subject to risks associated with the capital markets.
The policyholder is solely responsible for his/her decisions while investing in ULIPs. Bajaj Allianz Life Insurance and Bajaj Allianz iGain III Insurance
Plan are the names of the company and the product respectively and do not in any way indicate the quality of the product and its future prospects
or returns. All Charges applicable shall be levied. The policy document is the conclusive evidence of contract and provides in details all the
conditions and exclusions related to Bajaj Allianz iGain III Insurance Plan.
Contact Details
Unique Identification Number (UIN ) :
Bajaj Allianz iGain III
Bajaj Allianz UL Family Income Benefit Rider (UIN 116A018V01)
Bajaj Allianz UL Term Rider (UIN 116A021V01)
Bajaj Allianz UL Waiver of Premium Benefit Rider (UIN 116A019V01)
Bajaj Allianz UL Critical Illness Benefit Rider (UIN 116A015V01)
Bajaj Allianz UL Hospital Cash Benefit Rider (UIN 116A016V01)
Bajaj Allianz UL Accidental Permanent Total / Partial Disability Benefit Rider (UIN 116A014V01)
(UIN 116L099V01)
For More Information: Kindly consult our “Insurance Consultant” or call us today on the TOLL FREE numbers mentioned
above. This brochure should be read in conjunction with the Benefit Illustration and Policy Exclusions. Please ask for the
same along with the quotation.
Bajaj Allianz Life Insurance Company Limited,
G.E. Plaza, Airport Road, Yerawada, Pune - 411 006.
Tel: (020) 6602 6777. Fax: (020) 6602 6789.
www.bajajallianz.com
SMS LIFE 56070
For any queries please contact:
BSNL/MTNL
(Toll Free)
1800 22 5858
Other
(Chargeble)
<Prefix City Code> 3030 5858
Any Mobile & Landline
(Toll Free)
1800 209 5858
email: [email protected] chat: bajajallianzlife.co.in/chat
doc_815007373.pdf