Tag: 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

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.