The new ULIP brings with it two unique benefits that are one-of-their-kinds for a ULIP in India. The Return of Mortality Charges (ROMC) feature of Bajaj Allianz Life Goal Assure guarantees that a policyholder will get back the cost of the life cover when the policy matures, thus enhancing the value of their corpus on maturity. Furthermore, at maturity, the customer who opts to receive the maturity benefit in installments (and not lump-sum) over a period of five years will receive the benefit of Return Enhancer which is an addition of 0.5% of each due installment. During this period, the customer’s fund value will continue to participate in the fund(s) of his/her choice.
Speaking at the launch of the new ULIP, Tarun Chugh, Managing Director and Chief Executive Officer, Bajaj Allianz Life Insurance Company Ltd., said, “I believe our new age ULIP with its unique features will be a game changer for the industry. Today’s generation of retail investors, life maximizers as we identify them, have expanded the definition of LifeGoals and are looking for investment solutions that are value packed, convenient and backed by reliable investment performance. We are confident that the new product will offer a powerful proposition to new age investors.”
MAXIMIZED BENEFITS FOR CUSTOMERS:
Value Packed Benefits: In addition to ROMC and Return Enhancer, Bajaj Allianz Life Goal Assure also provides Fund Booster. It is an additional amount added to the Fund Value on the date of maturity of the policy. Other key features of the new ULIP include Loyalty Additions for paying premium regularly and staying invested in the policy. It is applicable for Annualized Premium of INR 5 lakh or more, and for policy terms of 10 years and above. There are also options to decrease Sum Assured, change Premium Payment Term, and unlimited free switches between funds for customers of the new age ULIP. To further enhance the value packed benefits customers will also enjoy tax benefits under section 80C and 10(10D).
Bajaj Allianz Life Goal Assure provides customers with four portfolio strategies that are designed keeping in mind the different customers’ needs and risk tolerance. The portfolio strategies are Investor Selectable Portfolio Strategy, Wheel of Life Portfolio Strategy, Trigger Based Portfolio Strategy and Auto Transfer Portfolio Strategy.
Reliable Investment Performance Record: The ULIP Funds of Bajaj Allianz Life Insurance have consistently delivered one of the best CAGR returns, beating the benchmark indices over a longer horizon of three, five and ten years. Further, most of its funds enjoy high ratings from the coveted Morning Star rating agency.
Convenience: Designed for customers who are now more tech aware Bajaj Allianz Life Goal Assure is available online. The company has revamped its website www.bajajallianzlife.com to make it more intuitive and offer customers a simplified and convenient purchase journey. Customers can make informed decisions using tools such as Risk Xplorer, Goal-based journey, Returns Calculator and much more. The website is designed to guide customers through every step of their LifeGoals planning and purchase.
About Bajaj Allianz Life Insurance Company Limited:
Bajaj Allianz Life Insurance Company Limited is one of India’s leading private life insurance companies. It is a joint venture between Bajaj Finserv Limited, the holding company for the businesses dealing with financial services of the Bajaj Group, and Allianz SE, the world’s leading insurance conglomerate and one of the largest asset managers in the world.
Bajaj Allianz Life Insurance Company Limited began its operations in 2001, and today has a pan-India presence with 631 branches as on 31 January, 2018. The company offers life insurance solutions through its strong product portfolio, which includes traditional insurance products and ULIPs for enabling customers fulfil their LifeGoals. The company also offers group insurance and health insurance plans.
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