Bajaj Allianz ULIP Plan
Bajaj Allianz ULIP Plan
  • Whole Life Insurance Cover
  • Multiple Funds Choice
  • Tax Benefits Under 80C
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Bajaj Allianz ULIP Plans

Bajaj Allianz ULIP is a systematic investment plan. It is one of a kind products that offer dual benefits of insurance and investment. For protection and wealth creation, Bajaj Allianz Life Insurance is offering a bunch of ULIP plans. Details about the same are mentioned below:-

Types of Bajaj Allianz ULIP Plans

1. Bajaj Allianz Life LongLife Goal

It is a non-participating individual regular premium payment ULIP plan. Under the same, you have the authority to invest your hard-earned money in an investment portfolio of your choice. The plan will provide market-linked returns over the long-term to assist you with a healthy retirement corpus. It will turn your retirement years to the best years of your life.

Key Features

  • Option For Retired Life Income To Meet Retirement Goals: The plan offers a retired life income option that will help you in meeting retirement goals.
  • Whole Life Insurance Cover: With the wealth creation feature, the plan also offers whole life insurance cover. This will help you with financial cover for every stage of life.
  • Choice of 2 Plan Variants: There are two variants-LongLife Goal without Waiver of Premium & LongLife Goal with Waiver of Premium. You can choose the required one as per your requirements.
  • Loyalty Additions: Bajaj Allianz Life LongLife Goal allows you to take advantage of loyalty additions. It will start from the 5th policy year until 25 policy years.
  • Periodical Returns: The company ensures to provide a periodical return on your life insurance cover.
  • Choice of 8 Funds: Under this plan, you have 4 different investment options. You can choose the required fund option as per your needs.
  • Maturity Benefits: Under Bajaj Allianz Life LongLife Goal, you will get maturity benefit which will be the fund value only.
  • Death Benefits: In case of an unfortunate demise of the insured, the nominee will be liable to receive death benefits. The death benefit is subject to the guaranteed death benefit of 105% of the total premiums.

Eligibility

Entry Age0 - no limits
Maturity AgeMinimum & Maximum age of maturity 99 years
Policy term99 minus Age at Entry of Life Assured
Premium Payment Term10 to 25 years
Maximum Age at end of PPTNo limit

2. Bajaj Allianz Life Goal Assure

It is a goal-based unit-linked insurance plan. The plan comes out with loyalty additions from the sixth year and Fund Booster is payable at maturity. The plan also returns the mortality charges on maturity. It assures maximized returns on your investment while offering protection from the initial day.

Key Features

  • Return of Mortality Charge: It is the first of its kind feature. Under the same, the entire mortality charges of life insurance cover throughout the policy tenure.
  • Multiple Portfolio Strategies: The plan allows you to choose from four different investment strategies. This will help you in achieving life goals based on your investment approach and risk appetite.
  • Multiple Funds Choice: The plan is offering 8 different funds options. You are allowed to choose the desired fund option that suits your investment needs.
  • Loyalty Additions: You can take advantage of this feature when the annualized premium is more than 5 lakh and the policy term is 10 years or more.
  • Fund Booster: Fund booster will be payable when the policy tenure is more than 10 years. This will be added to your premium and will assist you to enhance returns.
  • Flexibility: The plan comes out with multiple flexible options that allow you to reduce the premium, the sum assured or change in the premium payment term (among others).
  • Maturity Benefit: On the maturity date, you will be liable to receive maturity benefits. It will be in the form of Top-up Premium Fund Value plus Regular Premium as on the maturity date.
  • Death Benefits: In case of demise of the insured during the policy tenure (with all due premiums paid), the nominee will be liable to receive the death benefit. The death benefit will be % higher of Regular Premium Fund Value or Prevailing Regular Premium Sum Assured.

Eligibility

Entry Age0- 60 years
Maximum Maturity Age75 years
Minimum Premium3000 per month
Minimum Sum Assured10 times Annualized Premium

3. Bajaj Allianz Future Gain

Bajaj Allianz Future Gain is a future linked endowment insurance plan. The plan aims to offer maximum gain at a lower cost. It allows maximum allocation of your funds towards investment which directly enhances returns. It even allows unlimited switches.

Key Features

  • Maximum Premium Allocation: With the help of a low premium allocation charge, the maximum amount of the premium goes into the investment portfolio.
  • Two Investment Strategies: The plan offers two investment strategies- Investor Selectable Portfolio and Wheel of Life Portfolio.
  • Seven Fund Options: As per your choice and needs, the plan allows you to choose the adequate one from seven fund options.
  • Partial Withdrawal of Funds: You have the authority to make partial withdrawals. You can withdraw anytime after the fifth policy year( Subject to terms and conditions).
  • Premium Payment Frequency: You can change your premium payment frequency option (regular/limited) anytime to other payment options (yearly, half-yearly, quarterly or monthly).
  • Death/maturity Benefits: You or the nominee (in case of death) is liable to receive a death/maturity benefit. The beneficiary can receive the same in installments. You have the option to receive the death/maturity benefit in installments payable monthly, quarterly, half-yearly or yearly basis.
  • Riders Option: Enhance the basic cover with the help of five additional rider benefits.

Eligibility

Entry Age1-60 years
Maturity Age18-70 years
Minimum Policy Tenure10 years
Premium Payment term5-30 years
The top-up sum assured multiplier1.25 times

Why Bajaj Allianz ULIP Plans

  • Insurance Cum Investment: Bajaj Allianz unit-linked insurance plans offer the advantages of both life insurance cover and returns. It assists to build wealth along with protection.
  • Capital Market: The company provides the option to invest in the capital markets and earn huge returns.
  • Death Benefit: In case of demise of the policyholder, the sum insured or the market price of the policy (fund value), whichever is higher, will be paid.
  • Maturity: In case of survival until the maturity period, the plan will pay maturity benefit to the insured.
  • Premium Payment Options: The plan offers the flexibility to pay the premium as per the insuredís choice.
  • Partial Withdrawal: The plan allows you to surrender or make partial withdrawals.

Bajaj Allianz ULIP Plans: FAQ's

The benefit that the insured is liable to receive at the end of the policy is called maturity benefit. The same will be equal to the Fund Value at the time of maturity.

Yes, you are allowed to stop your policy by initiating a surrender request. The charges for the same vary from product to product. On surrendering your policy, you will be liable to get Surrender Value that will be equal to your fund value.

You should verify:

  • Features and benefits
  • Lapsation and its consequences
  • All the charges deductible under your plan
  • Limitations and exclusions
  • Other disclosures

No, they may not be guaranteed.

ULIP tax benefits are covered under the Income Tax Act, 1961. By choosing Bajaj Allianz ULIP plans, you become liable to get tax exemptions at the time of investment, during fund switches, when the money invested grows, and during maturity benefit. Additionally, the interest that you will earn on ULIPs is also tax-free.

Investing in the Bajaj Allianz ULIP plan offers multiple benefits that include no allocation charges for the Goal Assure ULIP and Bajaj Allianz LongLife Goal plans.

To make an investment in Bajaj Allianz ULIP plans, you have to create an account on Finserv Markets. You need to do the same with your registered mobile number and a few other required details. Once you logged into the customer portal, you can easily invest in ULIPs and avail benefits of ULIP plans.

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Last updated on 27-01-2020