In the ever-evolving landscape of financial planning, selecting the right life insurance investment plan plays a pivotal role in securing one’s future. Bajaj Allianz, a name synonymous with trust and innovation in the insurance and investment landscape, offers a diverse range of products catering to the diverse needs of investors. In this article, we will compare two prominent investment plans from Bajaj Allianz - Future Gain and Goal Assure. We will delve into the key aspects, features and benefits of Bajaj Allianz Future Gain and Goal Assure, offering insights to help you make an informed decision tailored to your unique financial objectives.
Bajaj Allianz Future Gain II
Bajaj Allianz Future Gain Plan is a Unit Linked Non-Participating Individual Life Savings Insurance Plan that provides life cover throughout the policy term and maximum returns on your fund allocation.
Key Features and Benefits of Bajaj Allianz Future Gain
Here are some key features and benefits of Bajaj Allianz Future Gain:
- Flexibility in Premium Payment: Future Gain offers flexibility in premium payment options. You can choose to pay premiums monthly, quarterly, half-yearly, or annually, depending on your convenience.
- Multiple Investment Options: This plan offers a range of investment fund options, allowing you to customize your investment portfolio according to your risk tolerance and financial goals. You can opt for equity, debt, or balanced funds.
- Partial Withdrawals: Bajaj Allianz Future Gain allows you to withdraw partially after a certain lock-in period, providing liquidity in times of need.
- Top-Up Option: You can make additional investments through top-ups to enhance your savings and potential returns.
- Switching Between Funds: Future Gain offers the flexibility to switch your investments between different funds based on your changing financial goals and market conditions.
- Tax Benefits: Like other insurance plans, Bajaj Allianz Future Gain offers tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961, which can help you save on taxes.
- Maturity Benefits: At maturity, you receive the fund value, the total accumulated amount in your chosen investment funds, providing you with a lump sum amount to fulfil your financial objectives.
- Death Benefit: In the unfortunate event of the policyholder's demise during the policy term, the nominee receives the higher sum assured or the fund value as a death benefit.
Eligibility Criteria for Bajaj Allianz Future Gain
| Entry Age |
Minimum 1 Year to Maximum 60 Years |
| Maturity Age |
Minimum 18 to Maximum 20 Years |
| Premium Payment Frequency |
Yearly, Half-yearly, Quarterly and Monthly |
| Minimum Premium Installments |
- Yearly: 25000/-
- Half-yearly: 13,500/-
- Quarterly: 7,000/-
- Monthly: 2,500/-
|
| Maximum Premium Installments |
- Yearly: 12,00,000/-
- Half-yearly:6,00,000/-
- Quarterly: 3,00,000/-
- Monthly: 1,00,000/-
|
| Policy Term Range |
10 Years to 30 Years |
| Premium Payment Term |
5 to 30 years |
| Minimum Sum Assured |
7 times Annualized Premium |
| Maximum Sum Assured |
15 times Annualized Premium |
| Riders |
- Accidental Death Benefit Rider
- Accidental Permanent Total/ Partial Disability Benefit Rider
- Family Income Benefit Rider
- Waiver of Premium Benefit Rider Accident Protection Rider
- Critical Illness Benefit Rider
|
Bajaj Allianz Goal Assure II Plan
Bajaj Allianz Life Goal Assure II is a Unit-linked Non-Participating Individual Life Savings Insurance Plan that offers a comprehensive blend of life cover and wealth creation opportunities.
Key Features and Benefits of Bajaj Allianz Goal Assure
Here are the key features and Benefits of the Bajaj Allianz Goal Assure Plan.
- Life Cover and Wealth Creation: The plan offers the dual benefit of providing life cover and wealth creation opportunities, allowing you to secure your family’s future while growing your investments.
- Return of Mortality Charges: Bajaj Allianz Goal Assure offers the unique benefit of returning the mortality charges at the end of the policy term, enhancing the overall returns on the investment.
- Multiple Investment Options: It provides a range of investment options to suit different risk appetites, including equity, debt, and balanced funds. This flexibility allows you to align your investments with your financial goals.
- Flexibility in Premium Payment: The plan offers the flexibility to choose the premium payment term according to your convenience and financial capacity, enabling you to manage your investments more effectively.
- Wealth Boosters: This plan provides additional wealth boosters that add to the fund value at key milestones during the policy term, enhancing the growth of your investment corpus.
- Tax Benefits: Bajaj Allianz Goal Assure offers tax benefits on the premiums paid and the maturity amount under prevailing tax laws in India.
- Enhanced Protection with Riders: Optional riders can be added to the plan for enhanced protection, covering areas such as critical illness, accidental death or disability, providing a more comprehensive coverage package.
- Partial Withdrawals: The plan allows for partial withdrawals, providing liquidity in times of financial need, while the remaining corpus continues to grow.
Eligibility Criteria for Bajaj Allianz Goal Assure
| Entry Age |
Minimum 0 Year to Maximum 60 Years |
| Maturity Age |
Maximum 75 Years |
| Premium Payment Frequency |
Yearly, Half-yearly, Quarterly and Monthly |
| Minimum Premium Installments |
- Yearly: 36000/-
- Half-yearly: 18000/-
- Quarterly: 9,000/-
- Monthly: 3,000/-
- Top-Up: 5000/-
|
| Policy Term Range |
5, 10, 15, 20 Years |
| Premium Payment Term |
5, 7, 10, 15, 20 Years |
| Minimum Sum Assured |
7 times Annualized Premium |
| Maximum Sum Assured |
X * Annualized Premium, where X is based on age at entry and Policy term |
| Riders |
- Bajaj Allianz Life Linked Accident Protection Rider
|
How to Choose the Best Investment Plan?
Choosing the best life insurance investment plan requires careful consideration of your financial goals, risk tolerance, and future needs. Here's a step-by-step guide to help you make an informed decision:
Define Your Financial Goals:
Understand your short-term and long-term financial objectives. Whether it's saving for your child's education, buying a house, or building a retirement fund, knowing your goals will guide your investment choices.
Assess Your Risk Tolerance:
Different life insurance investment plans come with varying levels of risk. Consider your age, financial responsibilities, and willingness to withstand market fluctuations.
Understand the Types of Investment Plans:
Familiarize yourself with the different types of investment plans, such as unit-linked insurance plans (ULIPs), endowment plans, child plans, retirement plans, guaranteed return plans, and more. Each type serves a different purpose, offering various levels of coverage and investment opportunities.
Research Insurance Companies:
Look for reputable insurance companies with a strong track record. Consider factors such as claim settlement ratios, customer reviews, and the company's financial stability. Bajaj Allianz, for example, is known for its reliability and diverse range of insurance and investment products.
Evaluate Plan Features:
Compare the features of different life insurance investment plans. Look for flexibility in premium payments, tenure options, and the availability of riders or add-ons that can enhance your coverage.
Calculate Affordability:
Determine how much premium you can comfortably afford. It's crucial to strike a balance between securing adequate coverage and ensuring that the premiums fit into your budget without causing financial strain.
Compare Quotes Online:
Compare investment plans from different insurers to find the best combination of features, benefits, charges, and returns. PolicyBachat websites can assist in evaluating various plans side by side.
How to Compare Bajaj Allianz Future Gain Vs Goal Assure Online
Comparing Bajaj Allianz Future Gain and Goal Assure online is a convenient way to make an informed decision when choosing an investment plan. Here's a step-by-step guide on how to compare investment plans online:
- Visit the official website of the PolicyBachat.
- Click on the Investment Plan tab.
- Fill in the requested details such as name, mobile number, and email address.
- Enter your age and city.
- Select the plan which you want to buy. Click on the Proceed button.
- Use the online premium calculator to compare the premium amounts.
- Compare benefits, features, returns, and additional riders or bonuses.
- After comparing the products, select a plan which suits your requirements.
- Then pay for your policy by using an online payment method.
Frequently Asked Questions
What is the Primary Difference between Bajaj Allianz Future Gain and Goal Assure?
Bajaj Allianz Future Gain and Goal Assure are distinct insurance and investment plans. While Future Gain focuses on providing flexibility in premium payment and policy terms, Goal Assure is designed for goal-oriented investment, aligning with specific financial objectives.
What are the Key Considerations for Choosing between Future Gain and Goal Assure?
Consider your investment goals, risk tolerance, and the level of flexibility you desire. If you prefer a more adaptable approach, Future Gain might be suitable. For goal-oriented planning, Goal Assure aligns investments with specific financial objectives.
Are There Any Performance Differences Between Future Gain and Goal Assure?
Both plans have their unique performance attributes. Future Gain offers flexibility with fund choices, while Goal Assure structures its investments based on specific financial goals. The performance may vary based on market conditions and the chosen investment strategy.
How Do Future Gain and Goal Assure Plans Cater to Long-Term Financial Planning?
Both Future Gain and Goal Assure are designed for long-term financial planning. Future Gain's flexibility accommodates changing needs, while Goal Assure aligns with specific goals, providing a structured approach to achieving them over the long term.
What Role Do Riders Play In Enhancing The Coverage Of These Plans?
Bajaj Allianz offers riders or add-ons for both Future Gain and Goal Assure. These can enhance coverage by providing additional benefits, such as critical illness coverage or accidental death benefits. Adding riders depends on individual preferences and requirements.
How Can I Determine Which Plan is More Suitable for My Financial Situation?
Assess your financial goals, risk tolerance, and preferences. If you prefer flexibility and adaptability, Future Gain may be suitable. For goal-oriented planning and a more structured approach, Goal Assure aligns with specific financial objectives.
Conclusion
Choosing between Bajaj Allianz Future Gain and Goal Assure based on your individual needs and preferences. If you value flexibility and the ability to adapt your plan over time, Future Gain might be the better fit. On the other hand, if you have specific financial goals and prefer a structured approach to achieve them, Goal Assure could be the right choice.
Both plans offer unique features and cater to long-term financial planning. It's essential to assess your goals, risk tolerance, and desired level of flexibility before making a decision. Consider comparing quotes online at PolicyBachat to ensure that the plan you choose aligns perfectly with your financial aspirations.