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Bajaj Life Magnum Fortune Plus III is a unit-linked, non-participating individual life savings insurance plan that combines life insurance protection with market-linked investment opportunities. Policyholders can choose from available investment funds and portfolio strategies based on their financial goals and risk appetite. The plan offers Investor Selectable Portfolio Strategy, Target Asset Allocation Strategy and Automatic Transfer Portfolio Strategy. Loyalty additions are credited from the end of the 10th policy year and every year thereafter, subject to policy conditions. Eligible policies may also receive maturity boosters and the return of eligible mortality charges at maturity. The maturity benefit is based on the fund value, including any applicable top-up fund value. Policyholders may receive the maturity benefit as a lump sum or through a structured settlement payout for up to five years, subject to the settlement option terms. The death benefit is calculated according to the policy formula and applicable conditions. This is a market-linked product, so the investment value can rise or fall and returns are not guaranteed. Buyers should review the current brochure, policy document, fund options, charges, lock-in provisions and benefit conditions before purchasing.
Loyalty additions, multiple portfolio strategies and return of eligible mortality charges at maturity
Our assessment: Magnum Fortune Plus III may suit investors seeking long-term market-linked savings alongside life insurance protection. Its portfolio strategies allow policyholders to choose an investment approach, while free fund switches provide flexibility to respond to changing goals within the product rules. Loyalty additions and maturity-related benefits may improve the value for eligible policyholders who remain invested until maturity. However, these features do not eliminate market risk. Investment returns depend on fund performance, and policy charges can reduce the final fund value. The five-year ULIP lock-in also limits liquidity during the initial years. Before buying, compare the annual premium, premium-paying term, policy term, sum assured, fund-management charges, mortality charges, premium-allocation charges and surrender conditions. The right choice depends on the policyholder’s time horizon, investment risk tolerance and ability to maintain premiums. Treat the insurer’s 4% and 8% illustrations as examples rather than promises of actual returns.
Bajaj Allianz Life
Key Insights
Founded
2001
Bajaj Allianz Life was established 25 years ago and has built strong credibility over time, backed by its long-standing presence in the market.
Claims Experience
99.2% CSR, calculated as a 3-year average
Bajaj Allianz Life settles 99.2% of all claims it receives, demonstrating strong credibility.
Contact Details
1800-209-7272
Headquarters: Bajaj Allianz House, Airport Road, Yerawada, Pune, Maharashtra 411006, India
The plan provides life insurance protection during the policy term while the policy remains eligible for the applicable benefits.
The payable death benefit follows the policy formula and conditions.
Allows policyholders to select from available investment funds according to their objectives and risk appetite.
Fund availability and allocation rules are subject to the current policy document.
Provides a portfolio strategy designed around target asset allocation under the plan rules.
Review the current strategy description and investment risks before choosing it.
Offers an automatic transfer strategy according to the product rules.
The applicable transfer process and allocation conditions are defined by the insurer.
Fund additions are credited from the end of the 10th policy year and every year thereafter, subject to the applicable policy formula.
The amount depends on the policy conditions and applicable premium band.
A Waiver of Premium rider may be available subject to eligibility, underwriting and the insurer’s current rider terms.
Confirm current rider availability, additional cost, covered events and exclusions before purchase.
Conditions or treatments that the policy clearly says it will not cover.
Insurer
Bajaj Allianz Life plans and claim process
It is a unit-linked, non-participating individual life savings insurance plan that combines life cover with market-linked investment funds.
No. It is a ULIP savings and investment-linked life insurance plan, not a pure term insurance plan.
The published minimum regular premium is ₹48,000 annually, ₹24,000 half-yearly, ₹12,000 quarterly or ₹4,000 monthly. Confirm current product terms before purchase.
Disclaimer: Premium amounts are indicative and may vary based on age, health, and plan selected. Claim settlement ratios are from IRDAI Annual Reports. Finzony is not an insurance broker or agent. Verify all details on the official Bajaj Allianz Life website before purchasing.
Official Website
bajajallianzlife.com
Visit the official Bajaj Allianz Life website for plan brochures, premium quotes and policy services.
The aforementioned ratios have been averaged over three years (FY24-FY26)
No. The fund value depends on market performance and applicable charges. Illustrations at 4% and 8% are not guaranteed returns.
The published minimum entry age is 0 years. In the case of a minor life, policy vesting and related conditions apply.
The published maximum entry age is 65 years, subject to the policy terms and eligibility conditions.
The published maximum maturity age is 75 years. The permitted policy term depends on the entry age and plan rules.
Published policy terms are 10, 15, 20, 25 and 30 years, with premium-paying terms depending on the selected policy term.
Loyalty additions are fund additions credited from the end of the 10th policy year and every year thereafter, subject to policy conditions.
The plan provides free fund switches subject to its current rules. Review the available funds and switching conditions in the policy document.
No. ULIP withdrawals and surrender are restricted during the first five policy years under applicable rules.
Top-up premiums may be permitted subject to policy conditions. The published minimum top-up premium is ₹5,000; confirm current terms with the insurer.
The maturity benefit is based on the applicable fund value. The plan provides a lump-sum option or a structured settlement payout for up to five years, subject to terms.
Premiums and eligible proceeds may qualify for tax benefits under prevailing law. Eligibility depends on current tax rules and policy conditions.