- Max Advantage – Highest NAV product for the entire term
- Wealth Insure – Endowment Life Plan with Loyalty Additions
- These plans have been launched adhering to new ULIP guidelines
Bajaj Allianz Life Insurance has launched two new ULIPs following the new guidelines issued by IRDA coming into force. These products are Bajaj Allianz Max Advantage and Bajaj Allianz Wealth Insure.
Max Advantage is a ULIP plan that locks the highest NAV guarantee during the entire policy period of 10 years tracked on a daily basis through one of its funds Max Gain Fund II. The plan comes with new features such as refund of 60% of the total allocation charge at maturity as Guaranteed Addition and the option to select premium payment term of 5 to 7 years at inception. Besides this, Bajaj Allianz Max Advantage offers the following features –
- Flexibility to change the premium payment term
- Payment of an additional sum assured in case of accidental death
- Choice of 5 investment funds to invest in as per your risk appetite
- Flexibility to pay top-up premium and make partial withdrawals
- Unlimited free switches in funds other than Max Gain Fund II
Wealth Insure is a single premium endowment ULIP that provides a hassle-free way of investing money as well as taking care of insurance needs. The unique features of this product are:
- Loyalty addition up to 7% of single premium at the end of fifth year
- Choice of 7 investment funds to invest in as per your risk appetite
- Flexibility to pay unlimited top-up premium and make partial withdrawals
- Flexibility to receive the maturity proceeds as settlement option
- Flexibility to decrease your sum assured
- Systematic switching option to manage your investments better
- Optional additional rider benefits to enhance your protection
Akshay Mehrotra, Head – Marketing, Bajaj Allianz Life Insurance, said, “The new guidelines on ULIPs have made the product a very customer friendly investment tool. We feel that the features of highest NAV guarantee at maturity, refund of 60% total allocation charges & flexibility to choose the term in Max Advantage, give customers the advantage whether the market goes up or down.” He also added, “The ease of managing your investments with a single premium product like Wealth Insure Plan make these two plans unique for the customers looking for the best ULIP products.”
About Bajaj Allianz
Bajaj Allianz is one of the leading Private Sector life & general insurance companies in India. Bajaj Allianz is a union between Allianz SE, the world’s leading insurer and Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited, one of India’s most respected names). Allianz SE is a leading insurance conglomerate globally and one of the largest asset managers in the world, managing assets worth over a Trillion Euros (over Rs. 55, 00,000 crores). At Bajaj Allianz, customer delight is our guiding principle. Ensuring world class solutions by offering you customized products with transparent benefits supported by the best technology is our business philosophy. Bajaj Allianz began its operations in 2001 and today has a pan-India presence with over with offices and presence in over 1100+ towns in the country. The companies have been constantly expanding its operations to be close to their customers.
Bajaj Allianz Life Insurance has developed insurance solutions that cater to every segment and age-income profiles. Currently Bajaj Allianz has a strong product portfolio of over 30 flexible products and caters to all kinds of customer needs from ULIPs to Child plans, from group insurance to health insurance.