Bajaj Allianz Life Insurance launched 'Cash Assure', a traditional money-back plan with higher rate of return as compared to other traditional plans.
The plan provides comparatively higher percentage of the sum assured as money-back benefit at specified intervals for a longer policy term, the company said in a release issued here.
"Cash Assure ensures lump sum payout at specified intervals during the policy term considering the need for money at different stages of life. With a higher internal rate of return, we are hopeful that plan will be useful for both getting money at various needs of life and assuring financial protection," Bajaj Allianz Life Insurance Managing Director and CEO Anuj Agarwal said.
Bajaj Allianz Life Insurance is a joint venture between Allianz SE and Bajaj Finserv Limited.
