Bajaj Allianz Life Insurance Co. Ltd has launched a unit linked insurance plan called Future Wealth Gain, in which the insurance cover can also be claimed in case the insured person is diagnosed with cancer. A Ulip is a market-linked insurance plan that offers insurance and also invests your money in the markets. Read on to know out more about this plan.
The benefits
From an insurance point of view, this is a type-1 Ulip: on death of the policyholder during the policy term, the insurers pay higher of the fund value or the insurance cover. But there are two insurance options to choose from in this case.
The first is the Wealth Plus variant, where if the policyholder dies during policy term, the policy will pay higher of the sum assured or the fund value—subject to a minimum payment of 105% of the premiums paid.
