Bajaj Allianz ULIP Plan

About Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance is a prominent insurance company that offers various life insurance products. Established as a joint venture between Bajaj Finserv Limited and Allianz SE, it combines the expertise of an Indian financial group with the global insurance know-how of Allianz. 

The company provides a range of insurance plans, including term insurance, endowment plans, ULIPs (Unit Linked Insurance Plans), and retirement solutions. Bajaj Allianz Life Insurance is known for its customer-centric approach and innovative insurance products, aiming to secure the financial future of individuals and families.

Introduction to Bajaj Allianz ULIP Plan

Bajaj Allianz ULIP Plan is a blend of insurance and investment, integrating the benefits of a mutual fund. Your premiums create a fund invested in stocks, and its value, known as Net Asset Value (NAV), is determined by market performance. ULIPs offer potential returns tied to market trends and provide insurance coverage.

Features of Bajaj Allianz ULIP Plan:

1. Flexible Investment Options:

   • Customize your investment strategy based on risk appetite.

   • Choose from a variety of funds - equity, debt, or a mix of both.

2. Wealth Creation:

   • ULIP helps you build wealth over the long term.

   • Capitalize on market opportunities for potential higher returns.

3. Life Coverage:

   • The dual benefit of investment and life insurance.

   • Financial protection for your loved ones in case of unforeseen events.

4. Switching Option:

   • Easily switch between funds to adapt to changing market conditions.

   • Ensure your investment aligns with your evolving financial goals.

5. Partial Withdrawals:

   • Access funds in case of urgent financial needs.

   • Maintain liquidity while staying invested for long-term growth.

6. Tax Benefits:

   • Enjoy tax advantages under applicable sections of the Income Tax Act.

   • Optimize your tax planning with Bajaj Allianz ULIP.

7. Transparency and Information:

   • Regular updates on fund performance and portfolio.

   • Stay informed about the progress of your investment effortlessly.

8. Premium Allocation Charge:

   • Maximize your investment by minimizing charges.

   • Efficiently allocate a higher portion of your premium to your investment.

9. Additional Riders:

   • Enhance your coverage with optional riders.

   • Tailor your plan to meet specific financial protection needs.

People also read: Bajaj Allianz new smallcap Fund

Types of Bajaj Allianz ULIP Plan

Bajaj Allianz ULIP Plans come in diverse types, offering unique features to cater to varying financial needs. Explore the array of ULIP options designed to suit your investment goals:

• Bajaj Allianz Life Invest Protect Goal

• Bajaj Allianz Life Smart Wealth Goal II

• Bajaj Allianz Life LongLife Goal

• Bajaj Allianz Life Goal Assure II

• Bajaj Allianz Life Future Gain II

• Bajaj Allianz Fortune Gain

Let us learn about these plans quickly in the sections mentioned below.

1. Bajaj Allianz Life Invest Protect Goal

   Bajaj Allianz Life Invest Protect Goal is a Unit-Linked Insurance Plan (ULIP) designed to help you secure your loved ones' future while offering the potential for market-linked returns on your premiums.

   Features of Bajaj Allianz Life Invest Protect Goal:

   • High Insurance Cover Savings Plan: Ensures a substantial insurance cover for your financial security.

   • Lump Sum Payout: Provides a lump sum amount to your loved ones in the event of your absence.

   • Market-Linked Returns: Facilitates the growth of your savings corpus through market-linked returns.

   • Return of Charges: Boosts your fund value by offering a return of charges.

   • Enhanced Protection with Riders: Optional riders are available to provide additional layers of protection for your peace of mind.

   • Loyalty Benefit: The plan rewards loyalty by offering benefits to policyholders over the long term.

   • Family Benefit: Tailored benefits to support and protect your family's financial well-being.

   • Tax Benefits: There are tax advantages available under Section 80C and 10(10D)  of the Income Tax Act.

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2. Bajaj Allianz Life Smart Wealth Goal II

   Bajaj Allianz Life Smart Wealth Goal II is a unit-linked insurance plan (ULIP) that combines life insurance coverage with the potential for wealth creation through investment. It is designed to help you achieve your long-term financial goals, such as saving for retirement, a child's education, or a dream home.

   Features of Bajaj Allianz Life Smart Wealth Goal II:

   • Three Variants: You can choose from three distinct variants to suit your financial goals and risk appetite.

   • Return of Premium Allocation Charge: Get the benefit from the return of the premium allocation charge. It enhances the overall value of your investment.

   • Return of Mortality Charge: Enjoy the unique feature of return of mortality charge, adding an extra layer of financial security.

   • Option to Reduce Premium: Flexibility to reduce your premium, providing financial adaptability as per your changing needs.

   • Loyalty Benefits with Periodical Money Backs: Earn loyalty benefits and periodic money backs, enhancing the overall returns on your investment.

   • Return of Mortality Charge (ROMC): This unique feature offers a return of mortality charge, contributing to the financial well-being of your beneficiaries.

   • Family Benefit: Provide for your family's financial security with the Family Benefit option.

   • Tax Benefits: You can avail of tax advantages under Section 80C and Section 10(10D) of the Income Tax Act. 

3. Bajaj Allianz Life LongLife Goal

   Bajaj Allianz Life LongLife Goal is a unit-linked insurance plan (ULIP) that provides life insurance cover and market-linked returns. It is a non-participating plan, which means that policyholders do not participate in the profits of the insurance company.

   Features of Bajaj Allianz Life LongLife Goal:

   • Whole of Life Insurance Cover: Comprehensive life insurance coverage throughout your lifetime.

   • Loyalty Additions: Additional benefits in the form of loyalty additions to enhance policy value over time.

   • Periodical Return of Life Cover Charges: Provides you with periodic returns. This reduces the impact of life cover charges under the Unit Linked Insurance Plan (ULIP).

   • Tax Benefits under Section 80C & Section 10(10D): Tax advantages for premium payments and maturity proceeds under Section 80C and Section 10(10D), respectively.

   • Retired Life Income (RLI): Provision for a steady stream of income during retirement, which ensures financial security.

   • Partial Withdrawal: Flexibility for you to make partial withdrawals as needed, providing liquidity.

   • LongLife Goal with Waiver of Premium Option: Relief from paying premiums in case of unforeseen events if the LongLife Goal with Waiver of Premium option is chosen.

   • Surrender Benefit: Option for policy surrender with associated benefits, which provides you with flexibility.

   

4. Bajaj Allianz Life Goal Assure II

   Bajaj Allianz Life Goal Assure II is a Unit Linked Insurance Plan (ULIP) designed to help you achieve your life goals while providing financial protection. It combines investment and insurance elements, offering the potential for growth along with financial security.

   Features of Bajaj Allianz Life Goal Assure II:

   • Loyalty Additions: Additional benefits are provided to you over time as a mark of loyalty.

   • Zero Allocation Charges: No charges are deducted from the premium for the initial allocation of funds, ensuring full investment value.

   • Tax Benefits under Section 80C & Section 10(10D): The plan offers tax advantages under Section 80C and Section 10(10D) for premium payments and maturity proceeds, respectively.

   • Return of Mortality Charge (ROMC): Refund of mortality charges, which enhances returns by returning a portion of the charges incurred.

   • Fund Booster: Incremental boost to the fund value at maturity by enhancing overall returns.

   • Family Benefit: Provision for additional benefits or coverage for the family that provides them with financial security.

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5. Bajaj Allianz Life Future Gain II

   Bajaj Allianz Life Future Gain II is a unit-linked, non-participating individual life insurance plan that offers the dual benefit of protection and growth. It comes with two variants: Wealth Plus and Wealth Plus Care.

   Features of Bajaj Allianz Life Future Gain II:

   • Maximum Premium Allocation: Optimal utilization of premiums for investment that maximizes the value of your policy

   • Life Cover: Comprehensive life coverage to ensure financial protection for the policyholder.

   • Choice of 2 Investment Strategies: Flexibility for you to select from two investment strategies based on your financial goals and risk tolerance.

   • Unlimited Free Switches: Freedom to reallocate funds without incurring any charges. This allows for strategic investment adjustments.

   • Surrender Benefit: Option for policy surrender with associated benefits, providing you with flexibility.

   • Additional Rider Benefit: Supplementary benefits through optional riders for enhanced coverage tailored to individual needs.

   • Tax Benefits: Enjoy tax advantages on premium payments and maturity proceeds, maximizing savings under prevailing tax regulations.

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6. Bajaj Allianz Life Fortune Gain

   A unit-linked insurance plan that combines the benefits of insurance and high returns through market-linked growth. 

   Features of Bajaj Allianz Life Fortune Gain:

   • Loyalty Additions: The plan provides for Loyalty Additions @3% of the Single premium paid if the chosen term is for 11-30 years and the premium paid is Rs.1 lakhs and above. Additional benefits over time as a reward for continued policy loyalty, enhancing overall returns.

   • Up to 99.5% Fund Allocation: Maximum utilization of premiums with a high percentage allocated to funds, optimizing investment potential.

   • Systematic Switching Option: This option for systematic fund switches, allowing strategic portfolio adjustments without complications.

   • Surrender Benefit: Flexibility to surrender the policy with associated benefits, providing liquidity when needed.

   • Tax Benefits: Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act, 1961.

People Also Read: Bajaj Allianz Life Dynamic Asset Allocation Fund

Steps to Buy Bajaj Allianz ULIP Plan from Policybazaar

Follow the below-mentioned steps to start applying for Bajaj ULIP Plans through Policybazaar:

Step1: Compare and Choose:

• Visit the Policybazaar website and navigate to "ULIP Plans".

• Enter basic details like name, mobile number, and email.

• Select "Bajaj Allianz" as the preferred insurer.

• Compare different Bajaj Allianz ULIP plans based on your financial goals and risk appetite.

Step 2: Get a Quote:

• Choose the desired ULIP plan and click "Get Quote."

• Provide further details like income, smoking habits, and preferred policy terms.

• Review the calculated premium and coverage benefits.

Step 3: Apply and Complete Purchase:

• Click "Buy Now" and fill in the application form with accurate information.

• Choose your preferred premium payment mode and frequency.

• Review the policy terms and conditions carefully.

• Submit the application form and make the initial premium payment.

Step 4: Post-Purchase Support:

• You will receive a policy confirmation email and documents.

• Policybazaar will assist with medical tests (if required) and policy issuance.

• Enjoy ongoing customer support and claim assistance from Policybazaar and Bajaj Allianz.