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Insurance Company
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Bajaj Allianz Life Insurance Company Ltd
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Plan Name
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Bajaj Allianz New UnitGain Plus SP
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Plan Nature
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ULIP
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Plan Category
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Unit Linked - Single Premium
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UIN No.
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116L043V01
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About Plan
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This Single Premium plan offers attractive investment in securities, complete flexibility and transparency and additional protection of a valuable life cover.With a high allocation of 98% and 4 investment funds to choose from, this plan offers participation in financial markets, a valuable life cover and attractive tax advantage.With fund switching options and partial or full withdrawal facility this plan provides complete flexibility to our customers.
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Minimum Entry Age
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0
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Maximum Entry Age
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65 Years
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Minimum Maturity Age
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18 Years
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Maximum Maturity Age
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70 Years
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Minimum Premium
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Rs.10000
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Benefits
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| Particulars | Description |
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Maturity Benefits
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On maturity, the fund value is payable to the policyholder.
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Death Benefits
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On death before the age of 7 years: Fund Value as on date of receipt of intimation of death at the office.On death on or after the age of 7 years and before the age of 60 years: sum assured less the 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 office, whichever is higher.On death of the life assured on or after the age of 60 years: sum assured less the value of partial withdrawals made within two years before attaining age 60 years and all partial withdrawals made after attaining age 60 years or the fundvalue as on the date of intimation of death at the office, whichever is higher.
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Surrender Benefit
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Full redemption of units by way of surrender of the policy is allowed after three years from the date of commencement of the Policy.
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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The Company aims to value the funds on each day the financialmarkets are open. However, the Company reserves the right to value less frequently in extreme circumstances, where the value of the assets may be too uncertain. In such circumstances, the Company may defer valuation of assets until a certainty on thevalue of assets is resumed. The deferment of valuation of assets will be subject to prior consultation with IRDA.Currently, the cut-off time is 3 p.m. for applicability of unit price of a particular day for switches, redemptions and publication of unit price.
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Plan your maturity proceeds by exercising the Settlement Option. This facilitates you to receive your maturity proceeds in installments (payable yearly, half yearly, quarterly ormonthly, at your option) spread over a maximum period of 5 years. The amount paid out in each installment will be the outstanding fund value at that date divided by the number of outstanding installments.No risk cover will be available during the settlement period. The company however will deduct all the charges (except the mortality charges).
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After three years from the commencement of the policy,withdrawals through partial or complete surrender of units is allowed. In case of partial withdrawals, a minimum balance of Rs.5,000 or 1/5th of the Single Premium, whichever is higher, across all funds should be maintained after withdrawal, and the minimum withdrawal amount should be Rs. 5,000. In case the policy is taken on the life of a minor, the partial withdrawals shall not be allowed until the minor (life insured) attainsmajority (ie. on or after attainment of age 18).
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Bajaj Allianz New UnitGain Plus SP comes with a host of features to allow you to have the best of all worlds - Protection and Investment with flexibility like never before.
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It is a single premium unit linked plan with maximum maturity age 70.98% of the single premium is allocated towards Units.Minimum Guaranteed death benefit: Sum Assured.Choice of 5 investment funds with flexible investment management: you can switch between funds at any time.Attractive investment alternative to fixed-interest securities.Provision for surrender or partial withdrawals any time after three years from commencement.Unmatched flexibility ûto meet your changing needs.
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Bajaj Allianz NewUnitGain Plus SP offers you a choice of 5 funds. You can choose to invest fully in any one fund or allocate your single premium into the various funds in a proportion that suits your investment needs.
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You can apportion your Single Premium between various funds available. The apportionment to any chosen fund must be at least 5% of the Single Premium.
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Bond Fund
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Equity Growth Fund
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Equity Index Fund II
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Liquid Fund
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Pure Stock Fund
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Particulars
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Range
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Bond Fund
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Money Market Instruments
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0% - 20%
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G-Secs, Bonds & Fixed Deposits
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80% - 100%
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Equity Growth Fund
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Bank Deposits & Money Market Instruments
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0% - 20%
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Equities
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80% - 100%
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Equity Index Fund II
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Bank Deposits & Money Market Instruments
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0% - 15%
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Equities
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85% - 100%
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Liquid Fund
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Money Market Instruments
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0% - 100%
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Pure Stock Fund
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Bank Deposits & Money Market Instruments
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0% - 40%
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Equities
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60% - 100%
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Bond Fund
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22-May-13
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18.8498
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Equity Growth Fund
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22-May-13
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19.2811
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Equity Index Fund II
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22-May-13
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19.4376
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Liquid Fund
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22-May-13
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17.6838
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Pure Stock Fund
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22-May-13
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24.0273
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Bond Fund
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Equity Growth Fund
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Equity Index Fund II
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Liquid Fund
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Pure Stock Fund
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03-Jul-09
10:49
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Bajaj Allianz has invested Rs 50 cr SKS Microfinance
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16-Jun-09
10:59
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Bajaj Allianz Life has launched Invest Plus
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21-May-09
11:46
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Bajaj Allianz Life Insurance posted profit of Rs 45 Cr in FY09
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13-May-09
12:59
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Bajaj Allianz Life launched ULIP plan
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21-Apr-09
10:41
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Allianz expands India presence into asset management
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11-Apr-09
10:45
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Policies for women : Bajaj Allianz
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31-Mar-09
09:46
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Bajaj Allianz to insure all Volkswagen vehicles
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17-Feb-09
16:20
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Bajaj Allianz launches CenturyPlus II
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20-Jan-09
12:50
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Private insurers see market share rise to 62%
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16-Jan-09
16:20
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Bajaj Allianz Life Insurance GWP is Rs 6726cr
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17-Dec-08
14:15
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Equity-based Ulips outdo indices
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13-Dec-08
11:20
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Allianz sees bright future for its Asian operations
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21-Nov-08
09:56
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Bajaj Allianz to infuse Rs.300 Cr
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30-Aug-08
10:12
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Vijender Singh snapped up by Bajaj Allianz Life Insurance
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22-Aug-08
17:00
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Bajaj Allianz Life Insurance is going in for a rejig
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18-Aug-08
11:40
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Bajaj Allianz Introducing Bajaj Allianz Fortune Plus
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