All of us have dreams for the future, for ourselves and for our family. To fulfil our goals and objectives, investment plans are a great resource. They not only help you in planning your life but also give you a satisfaction that your family would not be in a financial crisis in case something uncertain happens to you. There are a number of ways to invest your money, but the approach of one-size-fits-all doesn’t really work here. One of India’s most trusted insurance companies, Bajaj Allianz gives its customers a variety of investment plans that suit their various needs and requirements.
Investment plans have a longer tenure and the money paid towards the plan cannot be withdrawn before the completion of the 5 years. If the policyholder stops paying the premium after the first 3 years, the plan then changes into a paid-up plan. In a paid-up plan, the sum assured reduces and the policyholder can then either continue the plan at the reduced cover or surrender his plan. Here is a list of the various types of Investment Plans offered by Bajaj Allianz Investment Plans.
The Elite Assure plan by Bajaj Allianz is a participating assurance plan where the investor pays the premiums for a specific tenure. There are guaranteed loyalty additions that can range from 3% to 15%, depending on the tenure of the plan. This plan also gives the flexibility to alter the frequency of the premium payment. The investor can also avail a discount on the premium if he chooses a higher GMB that is Greater Maturity Benefits of above INR 5 lakhs.
Eligibility
The entry age is between 0 years to 55 years, and the age of maturity ranges from 18 to 70 years. The sum assured is almost ten times the annual premium. Policy Term can be 15, 20, 25 and 30 years while the Premium Paying Term can be 7, 10 or equal to Policy Term The investor can select a premium payment frequency that can be monthly, quarterly, half-yearly or yearly.
Bajaj Allianz Fortune Gain is a non-participating ULIP that provides the benefits of wealth creation and a life insurance cover too. There is 99.5% of premium allotment for a single premium of INR 10 lakhs and above. Loyalty Additions of 3% of the single premium depending on the single premium & policy term chosen is also provided along with a choice of 7 funds. The plan provides the investor with the option to switch between funds in order to manage his finances better. The premium paid for this plan is eligible for a tax deduction under section 80C and the death or the maturity benefit is eligible for a tax deduction under section 10 (10D).
Eligibility
The entry age for Fortune Gain is between 1 year to 63 years. The maturity age ranges from 18 years to 70 years. The premium payment frequency is single. If the investor is below 45 years of age then the sum assured would be 1.25 times the single premium paid. Policy Term is Minimum 7 years and Maximum 30 years.
This plan is a participating Endowment Assurance plan, where the premium is paid for a specific tenure. The two plans Gold and Silver have different criterion for eligibility. The investor has the option to add extra cover to his policy by adding on riders such as-Accidental Death, Accidental Permanent Total or Partial Disability, Family Income Rider, etc., to his existing plan at an affordable cost. With this plan, the policyholder can also avail a loan, which can be up to 90% of his policy’s surrender value. The premium paid for this plan is eligible for a tax deduction under section 80C and the death or the maturity benefit is eligible for a tax deduction under section 10 (10D).
Eligibility
The entry age is 0 to 18 years for silver variant or 18 - 50 for a gold variant plan. The Maturity Age is 18 – 70 for Silver Variant and 18 – 65 for Gold Variant.
The premium paying term are as follows
Silver Variant
| Policy Term Year | 17 to 19 | 20 to 24 | 25 to 40 |
|---|---|---|---|
| Premium Paying Terms | 7 and Policy Term minus 10 | 7, 10 and Policy Term minus 10 | 7, 10, 15 and Policy Term minus 10 |
Gold Variant
| Policy Term Year | 15 to 19 | 20 to 24 | 25 to 40 |
|---|---|---|---|
| Premium Paying Terms | 5,7 and Policy Term minus 10 | 5, 7, 10 and Policy Term minus 10 | 5, 7, 10, 15 and Policy Term minus 10 |
Depending on the investor’s choice, the premium payment frequency can be monthly, quarterly, half-yearly or even yearly. The minimum sum assured is INR 1 lakh. The Minimum Premium under the plan is as follows
| Mode | Yearly | Half-Yearly | Quarterly | Monthly* |
|---|---|---|---|---|
| Premium Rs. | Rs. 5,000 | Rs. 3,000 | Rs. 2,000 | Rs. 800 |
Bajaj Allianz Super Life Assure is a conventional, participating endowment plan that is suitable for investors who wish to accumulate a big amount over a long tenure. Along with a corpus, the policyholder also gets the protection of an insurance cover. The plan has two variants: Super and Life. The women investors can avail a lower premium.
Eligibility
The minimum entry age for Life Plan is 0 years and for Super Plan is 18 years. The maximum entry age for Super and Life is 50 years and 55 years respectively. The plan tenure can be from 12 to 20 years. the minimum premium under this plan is
| Variant | Yearly | Half-Yearly | Quarterly | Monthly |
|---|---|---|---|---|
| Super | ₹ 5,328 | ₹ 2,717 | ₹ 1,385 | ₹ 480 |
| Life | ₹ 4,500 | ₹ 2,295 | ₹ 1,170 | ₹ 409 |
Premium Payment Frequency - Yearly, Half yearly, Quarterly and Monthly The minimum sum assured for Super variant is Rs. 1 Lakh and Life variant is Rs. 50,000/-
The Save Assure plan by Bajaj Allianz is a conventional, non-participating endowment plan, where the premium is paid for a specific term only. With this plan, the policyholder not only secures the future of his family but also guarantee 115% of the sum assured. Save Assure also comes with an attractive discount on the premium, and the investor can avail a discount of INR 7 for every additional INR 1,000 sum assured that is purchased over INR 1 lakh. After paying 3 years’ premium the policyholder is eligible to ask for a loan that can be up to 90% of the surrender value.
Eligibility
The minimum entry age for Save Assure is 1 year and the maximum is 60 years. The maturity age of the plan ranges between 18 to 75 years. The minimum sum assured is INR 1,00,000. The policy term can be from 15 to 17 years. The Minimum Premium is
| Frequency | Yearly | Half-Yearly | Quarterly | Monthly* |
|---|---|---|---|---|
| Policy Term 15 | Rs. 8,140 | Rs. 5,000 | Rs. 2,500 | Rs. 1,000 |
| Policy Term 17 | Rs. 8,140 | Rs. 4,200 | Rs. 2,100 | Rs. 800 |
Guarantee Assure
The Guarantee Assure plan is a non-participating Endowment Assurance plan where the premium paying tenure is 5 years. Every year guaranteed additions are made at a fixed percentage of the sum assured and the policyholder receives the sum assured along with the accumulated guaranteed additions of up to 63% of Sum Assured on Maturity. With this plan the policyholder can also avail a loan, which can be up to 90% of his policy’s surrender value. The plan also gives the investor to alter the premium payment frequency which he chose at the beginning of the plan. The premium paid for this plan is eligible for a tax deduction under section 80C and the death or the maturity benefit is eligible for a tax deduction under section 10 (10D).
Eligibility
The entry age is between 9 years to 60 years, and the age of maturity ranges from 18 to 69 years. The minimum sum assured is INR 1 Lakh and the minimum annual premium is INR 23,839. The investor can select a premium payment frequency of his choice from Yearly, Half-Yearly, Quarterly and Monthly. The policy term can be 7, 8 or 9 years.
There are certain plans which Bajaj Allianz releases online only. The investor has to visit the official website of the company, select the investment plan he wishes to apply for, choose the cover he requires and then has to provide his details. The amount of premium depends on the choices he makes with regard to the cover and the tenure. If the investor agrees with the terms he can buy the plan by paying for the premium through credit card or debit card or using the net banking services. If the investor wants to buy a plan that is available with a broker or an agent, he can fill in the required forms, submit the necessary documents and buy the plan by paying through cash or cheque or net banking.
Why Choose Bajaj Allianz Investment Plans?
Bajaj Allianz understands the needs of the customers and offers a wide range of investment plans that can help the investors planning the different goals in their life. With limited payment periods, the investor gets a high sum assured. The policyholder not only gets compounded reversionary bonuses but can also apply for a loan against the surrender value. The company also aims at providing faster claim settlement services.
Which is the best Investment Plan of Bajaj Allianz Investment Plans 2018-19?
Bajaj Allianz offers a wide range of investment plans. Most plans are constructed on the basis of requirements of investors who have different needs and requirements. For example, if you are looking for an immediate annuity, then Bajaj Allianz Pension Guarantee might be a good option as the annuity starts immediately after the single premium is paid. On the other hand, if you wish to invest for long-term then Lifelong Assure might be a better option.
Which is the best Bajaj Allianz Investment Plans fora long-term?
The time frame that you have in mind is a crucial factor when it comes to buying an investment plan. For instance, Lifelong Assure has a payable tenure of 10-20 years and thereafter the plan can continue to an age of 100 years or the Elite Assurance plan which is a non-linked, limited premium endowment plan that promises a 315% of maturity benefits as the loyalty additions. Compare all the plans and then choose the one that suits your needs the most.
Why should I buy Bajaj Allianz Investment Plans ?
Bajaj Allianz provides you with investment plans which prove to be an efficient investment tool and also help you to keep your family protected against unforeseen hardships. The company understands the needs of the customers and offers a wide range of investment plans that can help the investors planning the different goals in their life. Even with limited payment periods the investor gets a high sum assured.
How to pay the premium? What are the modes of payment available?
The Bajaj Allianz Investment Premiums can be paid by making the deposit at the registered branch through Cash or Cheque payments. To pay the premium online NEFT or ECS System may be used.
How can I check policy status for Bajaj Allianz Investment Plans?
You can check the status of your policy online. You need to visit the official website of Bajaj Allianz and then enter your User ID and the password. You will be taken to the home page, click “Policy Status” and your status will be displayed.
