Bajaj Allianz Life rolls out new product

Bajaj Allianz Life Insurance has launched Unit Gain Guarantee-SP, a single premium policy that offers capital guarantee plus returns ranging from 6-12 per cent. Bajaj Allianz said the plan was a lucrative alternative to bank fixed deposits.

Sam Ghosh, chief executive officer, Bajaj Allianz Life Insurance Company, and country manager, Allianz, said, "The new Unit Gain Guarantee gives assured protection of customer interest in case the markets don't perform."

The proceeds of the plan would be invested in debt and equity in the ratio of 60:40, Ghosh said. The assured return is six per cent for a five year plan, eight per cent for a seven year plan and 12 per cent for a 10 year plan.