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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 Super
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Plan Nature
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ULIP
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Plan Category
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Unit Linked - Regular Premium
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UIN No.
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116L040V02
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About Plan
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The Bajaj Allianz New UnitGain Super comes with a host of features to allow you to have the best of all worlds - Protection and Investments. It enables every participant to create a solid financial protection and savings plan for himself and his family. In this way, as a participant in the Bajaj Allianz New UnitGain Super Plan, you can secure your well being and accumulate savings towards financial independence and a comfortable retirement.
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Minimum Entry Age
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0 years
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Maximum Entry Age
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60 years
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Minimum Policy Term
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10 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 25000
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Benefits
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| Particulars | Description |
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Maturity Benefits
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On maturity, the value of units in the fund will be paid out and the policy will terminate.
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Death Benefits
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On death before the age of 7 years : The death benefit will be the NAV of the units in the policyholder's account (Fund Value) as on the date of receipt of intimation of death at the office. The policy terminates on the death of the lifeassured.On death after the age of 7 years and before the age of 60 years : The death benefit will be the higher of the sum assured less the value of the units withdrawn by partial withdrawals in the last 24 months prior to the date ofdeath or the NAV of the units in the policyholder's account (Fund value) as on the date of receipt of intimation of death at the office.On death of the life assured on or after attaining the age of 60 years: The benefit will be the higher of the sum assured less the value of the units withdrawn within two years before attaining age 60 years and all the withdrawals made after attaining age 60 years or the value of the units in the policyholder's account (Fund Value) as on the date of intimation of death at the office.
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Switch Benefit
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switch between funds with three free switches every policy year, subject to a minimum switching amount of Rs. 5,000 or the fund value, whichever is lower.
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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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UL Accidental Death Benefit [116A013V01]
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UL Accident Permanent Total/Partial Disablity Benefit [116A014V01]
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UL Critical Illness Benefit [116A015V01]
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UL Hospital Cash Benefit [116A016V01]
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Even if you miss payment of your premiums: Bajaj Allianz New UnitGain Super provides you æPremium HolidayÆ- a unique feature of continued protection even if you forget to pay your premiums. After payment of at least 3 full yearsÆpremiums, even if premiums due are not paid the policy will be kept in-force by cancellation of units at the prevailing unit price to meet the cost of insurance and the other charges, provided the value of the units in the policyholderÆs account does not reach an amount equal to one annual premium under the policy.
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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 for premium allocation, switches, redemptions and publication of Unit Price.
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You can withdraw (partially or fully) anytime after three years from commencement provided regular premiums have been paid for three full years. In case of partial withdrawal, a minimum balance equal to one annual premium across all funds must bemaintained, and the minimum withdrawal amount is Rs. 1,000. There would be a 3-years lock in period on the top-ups. The lock-in on top-ups shall apply from the date of payment of each top-up. However, in case of surrender, this lock-in period on Top-Up does not apply. The surrender penalty applicable for both partial withdrawals from regular premium and full surrender would be 10% in the 4th year, 5% in the 5th year and 0% thereafter. The surrender charge is not applicable on partial withdrawal or complete surrender of top-up premium units. In case the policy is taken on the life of a minor, the partial withdrawals shall not be allowed until the minor (life insured) attains majority (ie. On or after attainment of age 18) .The partial withdrawals would first be allowed from top up premium units provided three years lock in period is over before allowing withdrawals from regular premium nits.
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Plan your maturity proceeds by exercising the Settlement Option with us. This facilitates you to receive your maturity proceeds in equal installments (payable yearly, half yearly, quarterly or monthly, at your option) spread over a maximum period of 5 years.No risk cover will be available during the settlement period. The company however will deduct all the charges (except the mortality charges and rider premium charges, if any).
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It is possible to revive a policy that has lapsed due to non-payment of premiums within 2 years from such date of lapse. You have to give a written application to the company to revive the policy with only one full year premium. The revival will be effected subject to underwriting.
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The policy will terminate on occurrence of any one of the following:a. The units in the policy are fully surrendered.b. The account value becomes equal to one annual premium due to non payment of premiums.c. The death of the Life Assured.d. On maturity, if settlement option is not taken.e. The expiry of the period for the Settlement Option.On the occurrence of (a) & (b) above , the value of the units, if any, would be paid to the life assured/policyholder upon such termination, subject to surrender charge, if applicable. In case of (c), death benefit will be payable as mentioned separately herein. In case of (d) & (e), the value of the units, if any is paid to the life assured/policyholderat maturity or at each installment date, as applicable under the settlement option.
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Bajaj Allianz New UnitGain Super comes with a host of features to allow you to have the best of all worlds - Protection and Investments. It enables every participant to create a solid financial protection and savings plan for himself and his family. In this way, as a participant in the Bajaj Allianz New UnitGain Super Plan, you can secure your well being and accumulate savings towards financial independence and a comfortable retirement.This plan takes care of all your changing requirements. This plan has been designed to provide your family with higher financial assistance should anything unfortunate were to happen to you as well as flexibility, so that you do not have to worry about your changing needs.
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You have the option to add the following additional bene the near future.2. Any adverse changes in the Government policies with respect to the software indusry may affect performance and profitability of the Company.Management Preception: Government of India has i
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NA
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NA
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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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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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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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23-May-13
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18.8402
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Equity Growth Fund
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23-May-13
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18.9536
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Equity Index Fund II
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23-May-13
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19.0616
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Pure Stock Fund
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23-May-13
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23.6724
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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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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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