Bajaj Allianz Life Insurance has received approvals for its individual and group insurance plans under the new product guidelines. The company plans to launch two individual life insurance plans, Save Assure and Invest Assure with a guarantee element and one whole life plan, Life Long Assure. These insurance plans will help the customers cover different needs that may arise at different stages in life.
These plans offer the customers the flexibility to choose the policy term, policy payment term and come with an option to take the policy benefit in monthly installments.
Mr. Anuj Agarwal, MD& CEO, Bajaj Allianz Life Insurance said, â€śWe are launching three new insurance plans which will cover the needs of individuals at their different life-stages. We have plans with a guarantee element, with a feature of premium payment for limited period and extended cover for few more years. These features have been added after extensive research amongst our existing customers and prospective ones, besides our agents. We will be launching a suite of online and channel specific insurance plans by the end of Jan 2014.â€ť
These plans are not only compliant with the new regulatory guidelines but are customer oriented and easy to understand. The plans also come with an element of guarantee and aim to offer better returns on the customerâ€™s hard earned money so that his/her future is secure.
Bajaj Allianz Save Assure
It is a traditional endowment plan that protects your finances by providing you with guaranteed returns.
Key Features of the Plan
Get guaranteed return of 115% of the sum assured
Choose from two Policy Terms, 15 and 17 years
Premium Payment Terms of 10 and 12 years
No premiums are payable in the last five policy years
Bajaj Allianz Invest Assure
It is a traditional endowment plan that assures protection to you and your family by providing financial benefits that help you save enough, so that your future is always safe. This plan has 2 life cover variants -Invest Assure Gold & Silver.
Key Features of the Plan
Option to choose Life Cover, which is 1.25 times or 2 times of the sum assured
The plan offers Compound Reversionary Bonus and Terminal Bonus
Limited Premium Payment Terms
Option to take policy benefit in monthly installments
Bajaj Allianz Life Long Assure
It is a non-linked whole life plan that provides you income and protection till your 100th birthday so that you and your familyâ€™s future remain safe forever.
Key features of the plan
Life cover up to the age of 100 years
Cash Bonus starting from the end of 6th year
Guaranteed Cash Back starting from the end of Premium Payment Term
Guaranteed benefit of up to 300% of Sum Assured on maturity or death whichever is earlier.
In addition to this, the company has launched 6 group insurance plans - Group Credit Protection Plus, Group Term Life, Group Term Care, Group Superannuation Secure, Group Employee Benefit and Group Term Care.
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