Category: Life Insurance

Living a Goal Assure Life with Bajaj Allianz Life

Posted on by Aziz Ampanwala

We are living in a technological advance era where we are completely spoiled for choices starting from shopping to all kind of services, we are just a click or touch away from our materialistic desires, but in this sea of desires and want are we financially stable to meet our needs and want? Are we goal assured to fulfil our never ending wants to own a house, car or go on a world tour or even save our hard earned money while maximizing it with an investment plan?

Living a purposeful life while taking care of our future and steadily investing our hard earned money can get hard to balance, especially when you have to manage your existing work load, but there is a solution which is fine tuned to provide just the right balance for your investment and future goals, I am talking about Bajaj Allianz Life Insurance’s new plan especially focused on meeting your life goals and investment, the Bajaj Allianz Life Goal Assure , A ULIP designed for maximizing life with added benefits.

The Bajaj Allianz Life Goal Assure Plan is for individuals who are planning to  make the most of their hard earn money by investing and allowing their money to grow and finally meeting their life goals,  investing in a ULIP that grows with time, making sure their target of reaching their desired goals are met

Travel Trip Map Direction Exploration Planning Concept

Some of the significant features of the Bajaj Allianz Life Goal Assure Plans are:

  • Return of Mortality Charges (ROMC) : Once reached maturity the plan offers return of life cover increasing the corpus on maturity.
  • Return Enhancer Maturity benefits on instalment pay out : Once the policy is matured, if the policy holder opts for instalments options on policy maturity amount, they are entitled for further 0.5% for each instalment, and in this period the amount will be continued to be invested in the selected investment in funds options selected.
  • Loyalty Program: Fund Booster is applicable if the policy holder is consistently paying annually and stays invested for 5 years or above on a policy plan which is more than 10 years with a yearly premium of 5 Lakh and above.
  • Tax Benefits: Tax benefits are applicable under section 80C and 10(10D).
  • Versatile Investment Portfolios: Depending upon one’s risk appetite and goals, the premium can be invested in four major funding options like investor Selectable Portfolio Strategy, Wheel of Life Portfolio Strategy, Trigger Based Portfolio Strategy and Auto Transfer Portfolio Strategy.
  • Consistent fund Performance: Bajaj Allianz Life has been in the forefront in the three, five and ten years category by consistently outperforming the benchmark and delivering one of the best CAGR returns, also rated highly in the Morning Star rating agency.
  • Just a Click away: Considering the new generation need to be available online, the website bajajallianzlife.com allows complete support to help and decide the plan and apply for it accordingly with advance tools such as Risk Xplorer, Goal-based journey, Returns Calculator and much more.

In case if there is more you want to know about the plan you can visit the website Bajaj Allianz Life

Turning Life Goals into reality with Proper Planning

Posted on by Aziz Ampanwala

We as individuals are always seeking to find solace in whatever we do, and how do we find that solace? Well, we often find it when we are sure about it. Now, being sure about something comes after a lot research, thought and planning. Why do we plan things? It’s obvious that we plan things so that we can do that allocated work in a systematic way so that we reach towards finishing it in a planned manner.

Now, you might be thinking by now, why am I talking about planning and being systematic in the above paragraph and what is the relation? Well, this is just to illustrate a broader point of view which many of use ignore while we execute many things in our life, what is that? That is preparing and being goal oriented.

People often live life as it comes and don’t bother planning for their future, why? Because many from us believe that we are earning enough to suffice our needs and wants and we shall be continuing with this pace beating the inflation with constant growth in our respective field of profession or business. But, does this mindset help? Not really!

We only have one life, and in this life we are keen to achieve our goals. Many of us set goals for a better lifestyle, to own new car / new lavish house, earn lot of money or even to have a startup which you always dreamt of to start one day.

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Being goal oriented with your investment is possibly the most significant way to reach the goals mentioned in the above paragraph, you may ask why? Because a goal  which is set for a specific period of time shall require an investment which grows overtime as years passes by and once the amount reaches its maturity you can avail the sum of amount to fulfill your #lifegoals may it be short or long term.

Talking about goal oriented investment and its significance, I was part of an event conducted by Bajaj Allainz Life Insurance at St Regis, Mumbai on 8th of January, the event showcased an emphasis on why being goal oriented investment can be beneficial in achieving #lifegoals for both short and long term by #investbefikar schemes, and what measures can be taken in terms of right age to invest and systematic planning towards achieving the life goals.

Lot more in details about the Bajaj Allianz Life Insurance plans related to goal oriented investment, stay tuned in the coming days as I shall be sharing the detailed review about the goal oriented investment plans from Bajaj Allianz Life Insurance and let you guys know the significance it might make in your #lifegoals.

Lets Make a Brighter Future and Opt for a Life Insurance Investment Plan

Posted on by Aziz Ampanwala

Life Insurance in India is understated due to the lack of awareness and importance, apart from not making it mandatory for every citizen to have a life cover/protection. But due to the trending times, the IRDAI regulations in 2010 made significant changes to make life insurance more appealing to the citizens of India. Let’s have a close look at one such Life Insurance Plan from Edelweiss Tokio Life which will inspire you to think and opt for a Life Insurance if you haven’t taken one yet.
Edelweiss Tokio Life Wealth Plus Plan, which was recently launched in the Indian market, is significantly more than just a Life Insurance plan. It not only covers life but also makes your premium work by investing into Equity and Bond Funds respectively according to the risk appetite which is calculated considering the age and no of years of insurance plan.
Some of the key features of this Edelweiss Tokio Life Wealth Plus Plan are:
1) Allocation of Premium to Equity and Bond funds, which works as a ULIP, so it takes cares of premium as investment and Iife insurance in one Plan.
2) Extra Allocation of Funds: If the Premium is paid on time and within the Grace Period, then from the 1st year to the 5th Year, 1% of Annualised Premium is added to funds and it grows along with 3% in the coming 6th to 10th year of policy, 5% from 11th to 15th year, and 7% from 16th to 20th year of the policy, which is a very robust module of Life Insurance I have come across.
3) Maturity Benefits and Settlement options: At the maturity of the policy, one has the option of gradually getting paid through instalments monthly, quarterly, half-yearly and yearly. This facility can be availed for a period of 1 to 5 years or even on lump sum, whatever is suited. Premium Boosted will be available at the time of settlement, whichever you choose. In case of death of the Life Insured during the Settlement Term, balance Fund Value is payable to the nominee/ legal heir.
4) Partial Withdrawals: Partial withdrawal is available after the 5th year of the policy. Minimum amount withdrawal is 500, and there are no charges on partial withdrawal even if it’s multiple times.

Some additional flexible advantages of Edelweiss Tokio Life Wealth Plus Plan are:

1. Flexibility of Premium Paying Term: At any point of time, you can decide and increase or decrease your premium paying term subject to it is allowed in the plan, other conditions are met in the plan, and previous premiums that are due have been paid.
2. Unlimited Switches: If you have selected to self-manage your premium fund allocation, you can avail the ‘switch option according to your financial priority’ without any extra cost. The minimum amount per switch is Rs. 5000.
3. Unlimited Opt-in and Opt-out Option between Investment Strategies: If you have chosen the Life Stage & Duration based Strategy, you have an option to opt-in or opt-out of it at any point of time during the Policy Term. You may choose the Self-Managed Strategy by opting out of the Life Stage & Duration based Strategy at any point of time during the Policy Term.
4. Unlimited Premium Redirection: If you have chosen Self-Managed Strategy, you can choose to allocate future premiums including Top-up Premiums in fund(s) different from that/those selected at policy inception or previous premium redirection request. This facility is called premium redirection and is available free of cost.
5. Partial Withdrawals: You may withdraw a part of your Fund Value as per your liquidity requirements at any time after the completion of the fifth Policy Anniversary, subject to following conditions:
a. The Life Insured has attained the age of 18 years.
b. Partial Withdrawals will be first adjusted from the Top-Up Fund Value (which excludes the Top-Up Premium locked in for 5 years), if available, and then from the Policy Fund Value.
c. There is a lock-in period of five years for each top up premium from the date of payment of that top up premium for the purpose of partial withdrawals.
d. Minimum amount that can be withdrawn is Rs. 500 per withdrawal.
e. You can make unlimited number of partial withdrawals as long as the resultant Fund Value after payment of such partial withdrawal is greater than or equal to 105% of total premiums paid (including Top-up Premiums).
f. The partial withdrawals will not be allowed which would result in termination of a contract.
g. The partial withdrawals are free of cost.
6. Top-up premiums: You can invest your surplus money as Top-up Premium over and above the Premium subject to following conditions:
a. Top-up premiums are allowed at any time during the policy term, except in the last five years prior to the maturity date and only if all the due premiums have been paid at the time of making the top-up premiums.
b. Each Top-up premium will be invested in separate Top-up account with a 60 months’ lock-in period from the payment date except in case of complete withdrawal.
c. At any point of time during the Policy Term, the total top-up premiums paid shall not exceed the sum total of the base premiums paid to date.
Life and health insurance policy concept idea. Finance and insur
Rising Star Benefits
Following benefits are paid on the death of the parent (policy holder):
• Lump sum amount (based on age of policy holder at policy inception) becomes payable immediately
• Sum of all the future premiums shall be credited to the Fund Value
• All future premiums will be waived off
• Additional allocation will be added to the Fund Value as and when due
• As age of the life insured increases and the remaining policy term reduces, this strategy ensures money is moved automatically from riskier fund to safer fund progressively

This is one of the most significant Life Insurance plans that I have come across, with a lot of added benefits and flexibility. Moreover, it also works as an investment proposition, and everything can be handled in a single plan. All the above benefits make it much better investment option than a mutual Fund. Life Insurance in India has seen a lot of traction due to multifaceted plans by a company like Edelweiss Tokio Life, which help bridge the gap between securing lives.

Life Protection with investment benefits by Bajaj Allianz Life Insurance

Posted on by Aziz Ampanwala

The long wait is finally over! Oh Wait, do check my previous post on the per-launch of Bajaj Allianz Life Insurance Company’s new product, to know what I am talking about, as promised it has been a week and I am here to take  you through the most anticipated Life Insurance cum Invest plan – Bajaj Allianz Life Future Wealth Gain.

So, to explain you in a nutshell, this plan offers Life Insurance cover and growth opportunity to #InvestBefikar in  2 Investment portfolio strategies, .

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Now that you know a brief about Bajaj Allianz Life Future Wealth Gain plan, let me share some of the in-depth features and benefits for your better understanding.

  • This is a ULIP (Unit Linked Insurance Plan) in which you can choose from a combination of how many years you want your policy and the premium payment terms, you can pay your premium as per your convenience i.e. monthly, quarterly or half yearly or yearly.
  • income benefit
  • If the death or the first diagnosis of cancer (subject to waiting period**) occurs during the premium payment term, then, an additional benefit as Income Benefit will be payable.
  • The Income Benefit is equal to the total of all the regular premiums due under the policy after the date of death or diagnosis of cancer, as applicable.
  • Each installment of the Income Benefit is equal to one regular premium.
  • In case of death/first diagnosis of cancer, it is payable to the nominee/policyholder at each premium due date for the remaining period of the premium payment term.
  • The first installment is payable on the first premium due date after the date of death or diagnosis of cancer, as applicable.
  • Income Benefit will be payable if the policy is in force, excluding paid-ups
  • Income Benefit will not be payable in case of a discontinued or paid-up policy
  • If death of the life assured occurs after claim has been paid for cancer and income benefit being triggered, no additional benefit will be payable on death and outstanding income benefits (if any) will be paid to the nominee.
  • Income Benefit is not payable if the death or the first diagnosis of cancer occurs after the premium payment term.
  • loyalty additions
  • The Company shall allocate Loyalty Additions to the Regular Premium Fund Value as percentage of one Annualized the Premium at the end of every 5 policy year starting from the 10 policy year, provided all due regular premiums have been paid up to date
  • In case the premium(s) are un-paid and the policy is revived during the revival period by paying all due premiums, the Loyalty Additions due-but-not-allotted during the period the Policy was in
  • Discontinuance will be added to the fund as on the date of revival.
  • Amount of Loyalty Additions will be allocated in funds in the same proportion of the Fund Value as at the date of addition.
  • There will not be any Loyalty Additions for Top-up premium paid. Loyalty Additions will not be paid for a Discontinued / Paid-up policy.
  • fund booster – Fund Booster will be added to the Regular Premium Fund Value at maturity, provided all due regular premiums have been paid up to the date of the allocation of Fund Booster. There will not be any Fund Booster for Top-up premium paid. Fund Booster will not be paid for a Lapsed / Paid-up / Discontinued policy.
  1. a) Investor Selectable Portfolio Strategy: In this you can invest your premium as per your convenience and market knowledge into the given 8 Funds to choose from by Bajaj Allianz Life

Or

  1. b) Wheel of Life Portfolio strategy: In which the premiums would be invested into 5 funds, the ratio changes as per years to maturity.
  • These are the 8 Investment Portfolio in which the funds or premium can be allocated:
  • Flexibility of changing the premium payment frequency or additional fund is a bonus, so #InvestBefikar.
  • Some detailed features of death benefits are:
    • If death of the life assured occurs before attaining age 60 years, then, the sum assured shall be reduced to the extent of the partial withdrawals made from the regular premium fund during the two year period immediately preceding the death of the life assured.
    • If death of the life assured occurs on or after attaining age 60 years, then, the sum assured shall be reduced to the extent of the partial withdrawals made from the regular premium fund during the two year period before attaining age 60 and all the partial withdrawals made from the regular premium fund after attaining age 60.
  • Maturity benefit: On reaching Maturity of the plan, you can avail the funds as a lum-sum or over a period of time through installment payment, which is again a value addition.
  • Tax Benefits: All the premiums are exempted from Taxes under the section 80C till a certain limit and is subject to change with current tax laws. The death benefit or the maturity benefit received would also be tax exempt under Section 10(10D) of the Income Tax Act.

Additional Benefits of Bajaj Allianz Future Wealth Gain Plan

  • Riders – There are few riders available with the plan which can be added to the base policy. The riders include:
  • Bajaj Allianz ULIP Accidental Death Benefit Rider
  • Bajaj Allianz ULIP Accidental Permanent Total/Partial Disability Benefit Rider
  • Bajaj Allianz ULIP Waiver of Premium Benefit Rider

Additional Premium: A top up to premium is available except the last 5 years of the policy, minimum being INR 5000.00

Switch: You can make unlimited switches with the minimum value of INR 5000.00

Additional Period: You get an additional time bracket of 15 days for monthly and quarterly and 30 days annually to pay premium if dates are missed.

Free Look Period: A review period of 15 days is given if you are not satisfied with the policy’s term and condition or other parameter you can cancel in the given period, which just shows how transparent the policy is.

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All in all, this is a fantastic plan by #BajajAllianzLifeInsurance for anyone who is seeking out for an Life insurance plan, a well fabricated plan which helps the premium grow and give a greater value for money in addition to the conventional Life Insurance, including all the benefits added this plan is tempting enough to put your money work wisely and #JiyoBefikar.