Established in the year 2001, Bajaj Allianz Life Insurance Company has secured its position among the top life insurance players in India.
A joint venture between Bajaj Finserv Limited and Allianz SE, Bajaj Allianz Life Insurance Company is renowned for its world-class products, high claim settlement ratio, efficient service and after-sales customer support. The claim settlement ratio FY 2015-16 is 98.10%.
Guaranteed Tax Savings
Under sec 80C & 10(10D)^₹1 Crore
Invest ₹10k Per Month*Zero LTCG Tax
Unlike 10% in Mutual FundsBajaj Allianz offers a wide range of life insurance solutions to cater to the various needs of the customers. While term insurance plans offer comprehensive life coverage, endowment plans are ideal for long-term savings. While child insurance plans take care of all the financial needs of one’s child, retirement plans guarantee a financially independent post-retirement life. Bajaj Allianz Life Insurance Company also offers unit-linked plans, which allow one to create wealth for future while securing the financial stability of his/her family from any unforeseen and unfortunate future event.
Unit Linked Insurance Plans (ULIPs) are insurance plans combined with the features of a mutual fund. The premiums paid by the policyholder are held in a corpus which is then invested in stocks and shares of different companies operating in the capital market. The total market value of the corpus invested divided by the number of securities purchased give the Net Asset Value (NAV) which is the price of one unit of the fund. The premium paid is invested at the prevailing NAV which changes every moment with the market trend. ULIPs promise good returns linked to the market and also insurance coverage. The basic features of ULIPs are as follows:
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Bajaj Allianz offers different types of ULIPs plans. Let us take a look at the different types of ULIP Plans offered by the company.
A unit linked insurance plan that combines the benefits of insurance and high returns through market linked growth. The features and benefits of the plan are as follows:
Eligibility Details
|
Minimum |
Maximum |
Entry Age |
1 year |
63 years |
Maturity Age |
18 years |
70 years |
Policy Term |
7 years |
30 years |
Premium amount |
Rs.50, 000 |
No limit |
Sum Assured |
1.25 / 1.10 times the Single Premium |
|
Premium Payment Term |
Single Pay |
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Another unit linked insurance plan which allows premiums to be paid either for the entire term under the regular pay option or for a limited term under the limited pay option of premium payment. The other features and benefits of the plan are as follows:
Eligibility Details
|
Minimum |
Maximum |
Entry Age |
1 year |
60 years |
Maturity Age |
18 years |
70 years |
Policy Term |
10 years |
30 years |
Premium amount |
Rs.25, 000 |
Rs.12 lakhs |
Sum Assured |
Higher of 10/7 times the annual premium or 0.5/0.25 *term*annual premium |
15 times the annual premium |
Premium Payment Term |
5 years |
30 years |
Premium Payment Frequency |
Yearly, half-yearly, quarterly or monthly |
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A unit linked pension plan with regular, limited or single pay option of premium payment. The features and benefits of the plan are as follows:
Eligibility Details
|
Minimum |
Maximum |
Entry Age |
30years |
73 years |
Vesting Age |
37 years |
80 years |
Policy Term |
7 years |
30 years |
Annual Premium amount |
Regular and Limited Pay - Rs.15, 000 Single Pay – Rs.50, 000 |
No limit |
Premium Payment Term |
Equal to the policy term or limited pay or Single pay |
|
Premium Paying Frequency |
Yearly, half-yearly, quarterly or monthly |
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Online
The company offers specific plans which are available online only. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities and the policy will be issued
Intermediaries
Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.
ECS
NEFT
Cash/Cheque Payments
However, if a claim settlement is delayed beyond 30 days, the company pays an 11% interest for every day's delay
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
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