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New Launch Bajaj Allianz Max Gain - Guaranteed NAV Plan


Posted Date: 19-Dec-2009  Last Updated:   Category: Insurance    
Author: Member Level: Gold    Points: 25



In competition of ULIPs providing highest NAV guaranteed over a period now one more private player in Life Insurance Bajaj Allianz Life Insurance launched a unit-linked insurance plan (ULIP) named Bajaj Allianz Max Gain. This plan has some added advantages over the other insurers offering similar kind of plan i.e. SBI Smart Ulip, Tata AIG Life InvestAssure Apex, ICICI Pru Pinnacle Fund and Birla SunLife Platinum Plus.

What is Bajaj Allianz Max Gain Plan?


Bajaj Allianz Max Gain plan is a unique plan available to invest which offers a highest NAV, which is declared on a daily basis, over the 10 year policy term and is paid on maturity unlike other products currently available which have fortnightly or monthly NAVs declaration. So the plan offers you the opportunity to get upside benefit of units price with complete downward protection from the fall in the equity market. In simple term, if you buy this plan which offers a current NAV of Rs.10; then over a period of 10 years Rs.10 is the minimum NAV guaranteed even if the market falls over this period and NAV is below Rs.10 (this never be a case). So over a period of 10 years the highest NAV calculated at the end of day will be paid the maturity.

Why Bajaj Allianz Max Gain


There are many advantages of buying Bajaj Allianz Max Gain because of its Uniqueness.

There are many other private life insurers offering similar kind of product giving guaranteed highest NAV on maturity but the uniqueness of Bajaj Allianz Max Gain is that the NAV offered as highest NAV is the one which is calculated in daily basis whereas other products currently available which have fortnightly or monthly NAVs declaration.

Second the premium that is to be paid is lower than others. Other plans has minimum premium for investment is Rs. 50,000 per annum whereas in Bajaj Allianz Max Gain offers a minimum premium of only Rs.25000 hence making middle class investors a room to invest in such kind of products. Premium reduction facility is allowed.

Bajaj Allianz Max Gain gives refund of Premium Allocation Charges up to 350% of total allocation charges deducted till maturity as guaranteed addition at maturity.

This plan also offers advantage of unlimited Top Up Premium payment facility.


What are charges in Bajaj Allianz Max Gain?


The charges levied are Premium Allocation Charges, Policy Administration Charge, Fund Management Charge (FMC), Guarantee Charge, Miscellaneous Charge and Mortality Charge.

Premium Allocation Charges will be 20% for 1st Year, 6% for 2nd Year and 6% for 3rd Year and for 4th Year onwards 100% premium amount will be invested in the fund.

Policy Administration Charge will be 1.26% of the 1st Year’s Sum Assured at the commencement of the policy and is deducted per month over the policy term of 10 years.

The Fund Management Charge is 1.25% and the current available Fund to invest is Max Gain Fund 1 which has asset allocation pattern as Equity and Equity Derivatives 0 to 100%, Debt and Debt Derivatives 0 to 100% and Money market instruments, liquid Mutual Funds 0 to 100% as per guidelines of IRDA.

Guaranteed Charge is a 0.25% per annum of the Fund value. Miscellaneous Charges are flat Rs.100/- per transaction in respect of reinstatement, increase or decrease in regular premium, alternation of premium mode or issuance of copy of policy document.

Mortality Charge will be deducted each monthly anniversary by cancellation of units.

Standard features of Bajaj Allianz Max Gain


Partial Withdrawal is allowed after three years
The Policy continues to participate in investment performance of fund even if you stop paying the premium after 3 full years.
No Surrender Charge after 3 full years
Option to change the premium payment frequency
Free Look Period of 15 Days
Tax Benefits: Premium Tax benefit under Section 80(C) and Withdrawals, Surrender Value, Death Benefit and Maturity Benefit Tax Free as per Section 10(10D) of the Income tax Axt

Important Details of Bajaj Allianz Max Gain Plan


Due to its unique features and covering the loop holes which other similar products offers the Bajaj Allianz Max Gain plan is worth investing. If you are willing to invest then you should check the following parameters before investing.

Minimum Entry Age: 8 years (18 years in case of Additional Rider benefit)
Maximum Entry Age: 60 years (50 years in case of Additional Rider benefit)
Minimum Age at Maturity: 18 years
Maximum Age at Maturity: 70 years (Additional Rider benefits not covered after 65 years)
Policy Term: 10 years
Premium Payment Term: 7 Years
Minimum Regular Premium:
Rs. 25, 000 per yearly installment
Rs. 15,000 per half-yearly installment
Rs. 8,000 per quarterly installment
Rs, 3,000 per monthly installment (Monthly mode is only by ECS and Salary Saving Scheme only)
Maximum Regular Premium: No Limit
Minimum Top Up Premium: Rs.5000
Maximum Top Up Premium: No Limit
Minimum/Maximum Sum Assured: 5 times Annualised Premium.


Above details are taken from the Bajaj Allianz Max Gain information brochure. If you have any query or would like to know more about the product you can post your response below, I will be happy to reply.


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Responses to "New Launch Bajaj Allianz Max Gain - Guaranteed NAV Plan"
Author: Nilespan    13 Feb 2010Member Level: Gold   Points : 2
Dear Chandan,

Following are the answers to you query.

1. Yes. Sum Assured is = 5XAnnual Premium for 10 Years.

2. NAV as on 11.02.2010 is 10.2356 you can watch NAV at Max Gain NAV

3. Bajaj Allianz Max Gain offers to invest in Max Gain Fund I
Max Gain Fund I: Risk Profile- High. The objective of this fund is to provide upside of equity while guaranteeing highest unit price recorded during the policy term at maturity. The investment strategy consists of dynamic asset allocation between equities, debt and cash. It ensures that the gains of the fund are locked-in so as to guarantee-the-highest unit price recorded during the policy term at maturity.

Indicative Portfolio Allocation:
Equity & Equity Derivatives* : 0% - 100%
Debt & Debt Derivatives* : 0% - 100%
Money market instruments, liquid Mutual Funds : 0% - 100%

4. Maximum NAV I cant tell you at this moment but the returns would be approximately 12% you can consider as market gives this return over a period of 10 Years.




Author: ASHWANI KUMAR    14 Feb 2010Member Level: Silver   Points : 2
Dear Chandan,

Following are the answers to you query.

1. Yes. Sum Assured is = 5XAnnual Premium for 10 Years.

2. NAV as on 11.02.2010 is 10.2356 you can watch NAV at Max Gain NAV

3. Bajaj Allianz Max Gain offers to invest in Max Gain Fund I
Max Gain Fund I: Risk Profile- High. The objective of this fund is to provide upside of equity while guaranteeing highest unit price recorded during the policy term at maturity. The investment strategy consists of dynamic asset allocation between equities, debt and cash. It ensures that the gains of the fund are locked-in so as to guarantee-the-highest unit price recorded during the policy term at maturity.

Indicative Portfolio Allocation:
Equity & Equity Derivatives* : 0% - 100%
Debt & Debt Derivatives* : 0% - 100%
Money market instruments, liquid Mutual Funds : 0% - 100%

4. Maximum NAV I cant tell you at this moment but the returns would be approximately 12% you can consider as market gives this return over a period of 10 Years.





Guest Author: SUNNY     23 Jan 2012
sir i have already invest in max gain two year is it necessary to invest third year to continue the policy or lapse please tell me what to do


Author: Nilespan    16 Mar 2012Member Level: Gold   Points : 0
Hi Sunny,

Do continue your investment for full term to get the benefit of this Policy.



Guest Author: simon singh     08 Oct 2012
I have invested in this product I want to know about death claim natural as well as accidental.Ihave invested two years back my age is 61 at present.


Guest Author: samikcha     15 May 2013
I have paid the premium for max gain for 3 years. What if i dont pay for the fourth year will i get my whole amount or any deduction is there?


Guest Author: gajendra     16 May 2013
do i change maxgain fund to other fund


Guest Author: A Bhattacharyya     22 May 2013
Wat will happen if I stop payinvg premium after 3 yrs? What mortlitlity charge can be deducted after 3rd yr? How will the fund work after paying 3 yrs premium and I do not withdraw the money till maturity?


Guest Author: v chandrasekhar rao     27 Jan 2014
I want to know the bajaj allianz unit, maximum gain status in my emaiL id vchandrasekhar.999@rediffmail.com
0038619912
163987888
163924908



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