The Bajaj Allianz Linf Long Gain Plan comes with a host of features to allow you to have the best of all words - regular income for you and the added benefit of providing for your loved ones too. This is the perfect plan to take care of ongoing and future family expenses like debts, expenses on children, living expenses, etc. It can also take care of unforeseen expenses like accidents, illness, hospitalisation, etc. and provides your family with a safety net.

How does the plan work?
The premiums paid are invested in the LifelongGain fund (based on the allocation rate) & units are allocated depending on the offer price of units for the fund. The value of your policy is the bid value of units that you hold in the fund. The life insurance cover charges are deducted through monthly cancellation of units, and the fund administration charge and fund management charge are priced in the unit value.

Benefits available under the plan
Death Benefit: In case of unfortunate premature death the beneficiaries are entitled to the greater of:
a) Sum Assured less partial withdrawals
b) The bid value of units
If the age of the insured person is less than 7 or above 70, then the bid value of units is paid.

Guaranteed Survival Benefits: Guaranteed Survival Benefits are available under this policy. Bajaj Allianz Life Insurance will pay, by cancellation of units in the account of the policy, 3% of the Sum Assured every year after the premium payments are over till the termination of the policy. This guaranteed amount is payable every year provided all premiums have been paid and no partial withdrawals are affected. If any partial withdrawal were made, the guaranteed survival benefit would be 3% of (Sum Assured less partial withdrawals) for the subsequent policy years. If the partial withdrawals made are equal to the Sum Assured, then the guaranteed survival benefits will become nil, and funds in the account will be available to you for full/partial withdrawals as and when you need them.

Maturity Benefit: On the life assured attaining age 100, the bid value of units in the fund will be paid out and the policy will terminate.

Full Withdrawal: LifelongGain offers you the flexibility of full withdrawals by surrendering all your units, anytime after 3 full years’ premiums are paid. The full withdrawals are paid out at the bid value of units. On full withdrawal, the policy will terminate.

Partial Withdrawals: LifelongGain allows you to make partial withdrawals anytime after all the premiums are paid. This gives you the liquidity and option to take out additional money over and above the guaranteed survival benefits, as and when required. In case of partial withdrawal, a minimum balance of Rs. 10,000/- at the bid value of units must be maintained, and the minimum withdrawal amount is Rs. 1,000/-. In case of a partial withdrawal, the subsequent Guaranteed Survival Benefits will be 3% of (Sum Assured less partial withdrawals made)