Bajaj Allianz Invest Gain Review
Plan Name: Invest Gain
Insurer: Bajaj Allianz Life Insurance
Category: Traditional Plan
Objective: Financial protection of family and returns on investment
Invest Gain is a traditional endowment plan which has four variants:
- Economy: basic package
- Gold: life cover is twice the Sum Assured
- Diamond: life cover is thrice the Sum Assured
- Platinum: life cover is four times the Sum Assured
Major USP of Bajaj Allianz Invest Gain
Different variants available
Limited premium payment term
Loan facility available
Eligibility of Bajaj Allianz Invest Gain
Minimum Entry Age: 0 Years
Maximum Entry Age: 65 Years
Maximum Age at Maturity: 70 Years
Policy Term: 5-40 Years
Premium Payment Term: Regular, Limited
Minimum Premium: Rs 5,000 per annum
Premium Payment Mode: Yearly, Half Yearly or Monthly
What benefits does Bajaj Allianz Invest Gain offer?
In case of unfortunate death of the life insured, Sum Assured will be paid. Bonuses if any will also be paid.
At the end of policy term, Sum Assured with vested bonuses will be paid.
You can opt for the following riders with the plan- Family Income Benefit, Comprehensive Accident Protection, Critical Illness and Hospital Cash.
Increase Sum Assured:
On occurrence of particular events like marriage, birth of children etc, you can also increase the Sum Assured.
For large Sum Assured, discount on premium will be made. For female policyholders, further discount will be provided.
Loan facility is available with the policy.
Are there any tax benefits?
Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income.
Under Section 10(10D) death claim is completely tax free.
What else should I know about?
Surrender Value: You can surrender the policy and the guaranteed surrender value will depend on premium term opted.
Free Look Period: Invest Gain plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.