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Click here for New Unit Gain Details |
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| Bajaj Allianz
Life's "New Family Gain" Product |
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It is an unit linked life
insurance policy
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Age group 0 to 55 years
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Premium paying term 15
years
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For policy to stay in force,
policy holder needs to pay premium for minimum 3
years
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Rs.12,000 Minimum Premium to
be paid for 3 years
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3,00,000 SA for age group
(0-17 years), No ADB
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4,08,000 SA + 4,00,000 ADB
for age group ( 18-45 years)
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1,98,000 SA + 1,98,000 ADB
for Age group ( 46-49 years
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1,80,000 SA for Age group (
50-55 years), No ADB |
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| Premium
Allocation |
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| Year of premium payment |
Allocation percentage |
| 1 |
30% |
| 2 |
97% |
| 3+ |
97%
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- Mortality, Accidental death benefit, Initial
Management Charges & other charges will be
deducted and then units will be allotted
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| Withdrawal |
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- Partial withdrawal can be done from 4th year
onwards after having paid three full years
premium. Minimum balance of one annual premium
across all the funds should be maintained after
withdrawal.
- In case of minor life, partial withdrawal is
allowed after attaining age 18 years.
| Fund Choices |
- Pure Stock Fund
- Equity Index Fund ( II )
- Bond Fund
- Liquid Fund
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| Death Benefit |
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- On death before age 7 years: The death
benefit will be the NAV of the units in the policyholder's
account (Fund Value) as on date of receipt of intimation of
death at the office. The policy terminates on the death of
the life assured.
- On death after the age of 7 years: The
death benefit will be the sum assured plus the NAV of the
units in the policyholder's account (Fund value) as on date
of receipt of intimation of death at the office.
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| Payment |
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| The payment has to be made by demand
draft only favouring " BAJAJ ALLIANZ LIFE INSURANCE
COMPANY LIMITED " Payable At " Hyderabad". |
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| Tax Benefits |
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- The regular premiums are eligible for tax relief under
Sec.80 ( C ) of IT Act, as of now.
- Death Benefit and Withdrawals( partial or full ) is tax
free under Section 10 (10) D of the Income Tax Act,if the
premiums paid in any year does not exceed 20% of the Sum
Assured.
- In case of change in any tax laws relevant to the
policyholder or the fund performance, the same will be
applied as per regulations prevailing at that points of
time.
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