A few days back we wrote on how you can achieve your financial goals. In simple words this is possible in this way – think, plan and invest. We focused on ULIP’s as one of the investment alternatives to achieve your goals.
Bajaj Allianz Life Insurance has launched its product which is a ULIP which is mainly designed for Life Maximizers to enjoy maximum benefits. The main features which make it an investment product are The Return of Mortality Charges (ROMC) and Return Enhancer.
Few advantages of this ULIP are:
Fund booster at Maturity: On maturity date fund boosters will be added to the regular premium fund value provided all the due premiums have been paid on time. This option is available for a policy term of 10 years and above.
Loyalty Additions: This option is available for an annualized premium of 5 lakh plus and for a policy with a policy term of 10 years. For 10-year period loyalty addition would be 0.5% of one annualized premium.
Return of Mortality Charges (ROMC): On the maturity date, the total amount as mortality charges which was deducted in respect of life cover provided will be added back to the regular premium fund value and the Top-up premium fund value. This feature won’t be applicable for surrendered policies.
Option to withdraw maturity in instalments makes more sense for people who can’t handle all lump sum money at once. For people who would need regular money at a periodic interval, this option makes more sense.
Choice of 4 investment portfolios and 8 funds: Various asset classes provide a different level of returns for a specified risk level. In case of equities, the risk is high and returns expectation is also high. Here an investor gets to choose from 4 investment portfolios and 8 funds.
The ULIP funds of Bajaj Allianz Life Insurance have consistently delivered one of the best returns, beating the benchmark indices over a longer horizon of three, five and ten years. Most of their funds have received a good rating by Morning Star.
The ULIP also offers you with an option to decrease sum assured and change premium payment term.
Tax benefits applicable under section 80C and 10(10D)
You can fulfil your #LifeGoals by investing in Bajaj Allianz Life Goal Assure.