I talked about how you can achieve your #LifeGoals with smart investments in one of my previous blogs. You might be wondering why I have started discussing this so frequently? Well, the reason is I realized how important this topic is and rarely do we talk about it. Money is the driving force of our lives. It is important without any doubt. We work days and nights to earn money but we often complain that we are not able to achieve some key milestones either because of the work pressure or because we never had enough funds.
So, here’s an investment solution that is simple and will enable you to invest towards any of your goals. Bajaj Allianz Life recently launched a new age ULIP called Bajaj Allianz Life Goal Assure, which have unique benefits that are first of their kinds in the life insurance industry. As you are aware, life insurance products come with a charge that is towards providing life cover. This new age ULIP has a feature that guarantees that the policy holder will get back the cost of the life cover at the time when the policy matures which enhances the value of their corpus on maturity. This is the Return of Mortality Charges (ROMC).
Apart from ROMC, there is also an option of Fund Booster. Using this feature, an additional amount can be added to the fund value on the policy maturity date. Another feature that is impressive is that this ULIP includes Loyalty Additions where there is an option for paying premium regularly and staying invested. This feature is applicable for annualized premium of INR 5 lakh and more and the term of the policy should be 10 years or more. At maturity, the customer who opts to receive the maturity benefit in instalments (and not lump-sum) over a period of five years will receive the benefit of Return Enhancer which is an addition of 0.5% of each due instalment. During this period, the customer’s fund value will continue to participate in the fund(s) of his/her choice
Other key features are as follows:
• Option to decrease sum assured
• Option to change premium payment term
• Option for unlimited free switches
• Tax benefits under section 80C and 10 (10D)
The revamped official website of Bajaj Allianz has all the details related to Bajaj Allianz Life Goal Assure ULIP. You may check it out for more information.
P.S: Make sure you consult your financial advisor before investing.