Bajaj Allianz Max Gain : Review and Comparison

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Bajaj Allianz Max Gain is similar to other products which offers highest NAV like SBI Smart ULIP, TATA AIG Insvest Assure Apex, ICICI Pru Pinnacle and Birla Sun Life Platinum Plus, however it has a certain features which makes it interesting than others.


1) Return of Allocation charge.

2) Highest NAV over the entire term is guaranteed.

3) No Surrender charge from 4th Year.


Let’s review the important feature of Bajaj Allianz Max Gain and compare with SBI Smart ULIP and ICICI Pru Pinnacle.


SBI Smart ULIP

ICICI Pinncle

Bajaj Max Gain

Min/Max Entry

8/60 years

8/65 years.

8/60 years

Max Maturity

70 years.

75 Years.

70 years.

PPT/Term

3 or 5 year/10 years

3 Years./10 Years

7/10 years

Min/Max Premium

50,000 yearly

50,000 yearly

25,000 PA/No limit

Min/Max SA

5 times yearly premium

5 times yearly premium

5 times yearly premium

Max Gain has a lower annual premium compared to other two however you need to pay it for 7 years.

Charges:

SBI Smart ULIP

ICICI Pinncle

Bajaj Max Gain

Allocation charge(% of premium)

15% 1st year, 5% thereafter.

14% first year, 4% 2nd year, 2% 3rd year.

For lower premium band it is

20% in 1st year, 6% in 2nd year, 3% in 3rd year, NIL therafter.

Policy Admin. charge

Rs. 60 pm throughout term + Rs. 5 per year per thousand SA for first 3 years.

Only for 1st 3 years, between 0.40% to 0.60% pm of annual premium.

1.26% of First years SA perm month for entire term.

Fund. Mgt Charge

Between 0.25 to 1.50% pa

1.35% PA + 0.10% PA (for guarantee of highest NAV)

1.25% PA

Surrender Charge

3rd Year: 9% , 4th Year: 2%, 5th Year + NIL

3rd Year: 4% , 4th Year: 2%, 5th Year + NIL

NIL

Allocation charge and Policy admin charge is very high in Max Gain,

However there is a NIL surrender charge from 4th year.


Maturity:

SBI Smart ULIP

ICICI Pinncle

Bajaj Max Gain

Highest NAV

For first seven years based on two reset dates each months.

First seven years based on daily NAV.

For entire term of 10 years based on daily NAV.

Other addition

NIL

3% of fund value

% of Total Allocation charge(see below table.)

Here highest NAV recorded daily over the entire 10 years term is guaranteed which is the plus point of Max Gain.

Annual Premium

% of total Allocation charge

25,000 – 99,999

175%

100,000 – 249,000

225%

250,000 & Above

350%

Guaranteed Addition would be better in ICICI Pru Pinncale if fund value is high.

For eg: In ICICI Pru Pinncale if the fund value over the 10 years term for a premium of Rs. 50,000 is Rs 2,00,000 only then GA would be Rs. 6000, while GA in Max gain would be Rs. 12687.5 (total Allocation charge of minimum premium of Rs. 25,000 is 175% of Rs. 7250 which will be Rs. 12687.5 (first year: 5000 + second year: 1500 + third year: 750 : Total is Rs. 7250) ).

Conclusion:

SBI Smart ULIP has a proven track record now and it has already given almost 80% returns. Other two are new funds and may take time to establish, so if you can’t wait in this tax season then go for SMART ULIP else wait till next financial year J.

Also take a look at comparisons of all the Highest NAV products available in the market and their reviews.

SBI SMART ULIP

TATA AIG LIFE INVEST ASSURE APEX

ICICI PRU PINNACLE

BIRLA SUN LIFE PLATINUM PLUS

COMAPARISONS:

SBI SMART LIFE AND ICICI PRU PINNACLE
SBI SMART LIFE AND TATA AIG INVEST ASSURE APEX AND BIRLA SUN LIFE PLATINUM PLUS

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