In today's fast-paced world, securing your financial future is essential. Investment plays a pivotal role in achieving your long-term financial goals, and choosing the right investment plan is a critical decision. Among the numerous investment options available, Unit-Linked Insurance Plans (ULIPs) have gained popularity due to their dual benefits of insurance coverage and investment opportunities. Bajaj Allianz Future Gain and HDFC Click 2 Invest are the best investment plans, each offering unique features and benefits.
In this article we delve into a comparison of Bajaj Allianz Future Gain and HDFC Click 2 Invest, helping you make an informed decision when selecting a Unit Linked Insurance Plan that aligns with your financial aspirations. We will evaluate these plans based on their features, benefits, premium costs, returns, and performance, ultimately guiding you towards a wiser investment choice. Whether you are a seasoned investor or new to the investment, this analysis will empower you to make a well-informed investment decision for a secure and prosperous future.
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
|
HDFC Click 2 Invest Plan
HDFC Life Click 2 Invest Plan is a Unit Linked Non-Participating Life Insurance Plan that provides market-linked returns along with valuable protection for your family.
Key Features and Benefits of HDFC Click 2 Invest Plan
Here are the features and benefits of HDFC Click 2 Invest Plan
- Multiple Fund Options: The plan offers 11 fund options, including equity funds, debt funds, and balanced funds. You can choose the funds that align with your risk tolerance and financial goals.
- Premium Payment Flexibility: You can choose your premium payment frequency, whether it's monthly, quarterly, half-yearly, or annually, based on your convenience.
- Partial Withdrawals: HDFC Click 2 Invest allows you to make partial withdrawals from your investments after the completion of the lock-in period. This provides you with liquidity for your financial needs.
- Tax Benefits: Like other insurance plans, HDFC Click 2 Invest 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. This can provide you with a lump sum amount to meet your financial objectives.
- Death Benefit: In case of the policyholder's demise during the policy term, the nominee receives the higher sum assured or the fund value as a death benefit.
- Online Convenience: HDFC Click 2 Invest can be easily purchased and managed online, making it convenient for tech-savvy customers.
- Switching Between Funds: The plan allows you to switch your investments between different funds to adapt to changing financial goals or market conditions.
Eligibility Criteria for HDFC Click 2 Invest Plan
| Entry Age |
30 Days to 65 Years |
| Maturity Age |
18 Years to 75 Years |
| Premium Payment Frequency |
Single, Yearly, Half-Yearly, Quarterly, Monthly |
| Minimum Premium Installments |
- Single: 24000/-
- Yearly:12000/-
- Half-Yearly:6000/-
- Quarterly:3000/-
- Monthly: 1000/-
|
| Maximum Premium Installments |
No limit, subject to Underwriting |
| Policy Term Range |
5 to 40 years |
| Premium Payment Term |
- Single Pay
- Limited Pay: 5, 6, 7, 8, 9 and 10 years
- Regular Pay: 5 to 40 years
|
| Sum Assured |
- Single Pay: 125% of Single Premium
- Regular and Limited Pay: 10 x annualized premium
|
| Riders |
- Life Protect Plus Ride
- Critical Illness Plus Rider
- Accidental Disability Benefit Rider
|
Factors to Compare When Choosing Between Bajaj Allianz Future Gain Vs HDFC Click 2 Invest
When choosing between Bajaj Allianz Future Gain and HDFC Click 2 Invest, it's crucial to consider several factors to make an informed decision that aligns with your financial goals and needs. Here are the key factors to consider:
- Features and Benefits
- Premium Amount
- Policy Term
- Riders and Additional Features
- Maturity Benefits
- Death Benefits
- Surrender Value and Loan Options
- Tax Benefits
- Customer Services
- Flexibility and Customization
- Financial Goals and Risk Tolerance
- Exclusions
- Terms & Conditions
How to Compare Bajaj Allianz Future Gain Vs HDFC Click 2 Invest Plans Online
Comparing Bajaj Allianz Future Gain and HDFC Click 2 Invest 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.
What are the Documents Required to Buy Investment
Here are some common documents that you may need to provide when buying an investment plan online:
- Identity Proof: Aadhaar card, PAN card, passport, driving license, or voter ID.
- Address Proof: Aadhaar card, passport, utility bill, or bank statement.
- Income Proof: salary slips, bank statements, or income tax returns.
- Bank Account Details: Account number, IFSC code, and branch address.
- Photographs: You may need to provide passport-sized photographs.
- Application Form: You may need to fill out the application form provided by the insurance company.
Frequently Asked Questions
What is the key difference between Bajaj Allianz Future Gain and HDFC Click 2 Invest?
The main difference lies in their features, charges, and fund options. Bajaj Allianz Future Gain and HDFC Click 2 Invest have distinct offerings in terms of investment funds, premium payments, and other policy details.
Which Plan is Better When Looking for More Investment Choices?
Both plans offer a variety of investment fund options, but the specific funds and their performance can differ. It's essential to compare the fund options and their historical performance to determine which aligns better with your investment objectives.
How Do I Decide Which ULIP Is More Cost-Effective?
You should compare the charges associated with each plan, including premium allocation charges, fund management charges, and policy administration charges. Lower charges generally lead to higher returns over the long term.
Can I Switch Between Funds in Bajaj Allianz Future Gain and HDFC Click 2 Invest?
Yes, both Bajaj Allianz Future Gain and HDFC Click 2 Invest allow you to switch between funds. However, it's important to understand the frequency and costs associated with fund switching for each plan.
Are There Any Tax Benefits Associated with These Plans?
Both Bajaj Allianz Future Gain and HDFC Click 2 Invest offer tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, of 1961. You can avail of these benefits, but it's important to understand the specific terms and conditions.
Can I Make Partial Withdrawals From My Investment in These Plans?
Yes, both plans allow for partial withdrawals after a certain lock-in period. This feature provides liquidity when needed, but you should understand the specific conditions and limits for partial withdrawals.
How Can I Purchase Bajaj Allianz Future Gain and HDFC Click 2 Invest Plans Online?
You can purchase Bajaj Allianz Future Gain and HDFC Click 2 Invest through their official websites or the PolicyBachat website. It allows individuals to compare different types of investment plans from different insurers online in one place.
Conclusion
The choice between Bajaj Allianz Future Gain and HDFC Click 2 Invest plans depends on your individual financial goals, risk tolerance, and preferences. To make an informed decision between these plans, carefully consider your financial objectives, the charges associated with each plan, the historical performance of the funds, and your risk tolerance. Additionally, compare quotes at PolicyBachat which can provide personalized guidance based on your unique financial situation. Ultimately, the choice between these plans should align with your long-term financial goals and help you achieve financial security and prosperity.