Bajaj Allianz Life Insurance, a joint expertise of Allianz SE and Bajaj Finserv Limited, offers world-class insurance solutions for all segments of the society in a transparent way. Bajaj Allianz Life Insurance India is considered to be one of the best insurance companies in the private sector that caters to all age groups and income profiles.
Individual Life Insurance Products
Bajaj Allianz life insurance products can be broadly classified into the following main categories, customized for various segments and their diversified needs:
1.Traditional Plans: Traditional plans comprises of the following three plans:
- Invest Assure: It is a non-linked endowment plan that assures one during the unforeseen eventualities and protects their families by providing financial benefits. This plan comes in two variants – Gold and Silver. The key features of this plan are:
- Terminal and compound revisionary bonus
- The investor has the option to choose 1.25 times or 2 times of the sum assured as life cover.
Policy benefits can be taken in monthly installments.
1.Save Assure: It is a traditional individual endowment plan that guarantees 115% of the sum assured, in addition to securing you and your family. The key features are as follows:
- Availability of two policy terms (15 or 17 years)
- A guaranteed benefit of 115% of your sum assured
- Choice of premium payment term, 10 and 12 years
2. iSecureMore : It is an increasing non-participating term insurance plan that secures your family’s financial requirements as the years pass by. The salient features of this plan are:
- Attractive high sum assured rebate
- On each policy anniversary, the benefit of increasing cover of 5% increase in sum assured
Investment Plans: Bajaj Allianz Future Gain is a limited premium ULIP (Unit Linked Insurance Products) plan offered by the company. The money invested in these products cannot be withdrawn till 5 years. The main advantages of the Future Gain plan are:
- Option of two investment portfolio strategies
- Option of seven funds
- Settlement Option/Maturity benefit in installments can be availed
- Maximum premium allocation
Withdraw Plans: Bajaj Allianz Life Insurance categories withdraw plans as regular premium, single premium, pure risk cover, risk cover with return of premium and risk cover with loan protection.
There are various plans under regular premium, which are as follows:
1.Max Advantage Insurance Plan: This investment plan helps in keeping the investor’s money safe by giving the guarantee to encase their units, at maturity, at the highest unit price achieved by the fund over the 10 year term. The major benefits of this plan are:
- Choice of five investment funds
- 60% of the total regular premium allocation charge can be refunded as a Guaranteed Addition at maturity.
- Choice of premium payment term from 5 to 7 years
2.Assured Protection Insurance Plan: This plan offers a unique combination of attractive returns and protection by investing in a mix of assets.
3.Smart Insurance Plan III: This is a systematic savings ULIP plan that gives a combination of maximum savings and protection.
4.Life Assure Plan: This plan helps in building a corpus with small and regular savings done over a period of time.
Some of the single premium plans are:
- Flexi Advantage Insurance Plan: This plan helps an investor to invest a lump sum amount with a lifelong flexibility.
- Wealth Insurance Plan: The high allocation offered by wealth insurance plan helps in meeting the financial goals by paying the only single premium.
The variety of products offered by Bajaj Allianz Life Insurance India not only secures oneself and his family, but also helps in regular savings to meet one’s financial goals. Thus, this investment tool should become an integral part of every individual financial planning.
Life Insurance Policy Information In India 