Bajaj Allianz Life Assure Plan

Recommendations :No

Name of the policy :
Bajaj Allianz Life Assure Plan

A brief desciption :

Bajaj Allianz Life Assure Plan is a latest addition to ULIP portfolio of Bajaj Allianz. It comes in two variants- Bajaj Allianz Life Assure- Sure and Bajaj Allianz Life Assure- More. The plan allows you to add riders to increase financial security. There is also flexibility to add lump sum amount in the policy. Decrease of premium is also allowed. All in all, Bajaj Allianz Life Assure is loaded with many features. However we can't ignore the fact that it is equally loaded with charges and insurance component being miniscule, it is strongly advisable to stay away from this fund

Started date :
27/1/2012

Type of policy :
Insurance cum Investment

Category :
ULIP

Insurance :
Min- For entry age below 45 yrs = 10 x Annualized Premium, For entry age 45 yrs and above = 7 x Annualized Premium, Max- 50 Years and below- 50 times AP, Above 50 Years- 20 times AP

Returns expected :
8%-10% (The performance would be less than a performing equity diversified mutual fund)

Entry age :
1-65 Years

Surrender :
Surrender value paid will be equal to the Fund Value as on date of surrender. (Applicable only after 6th Year)

Minimum amount :
Min- 10,000 Max- No limit

Mortality Charges :
Mortality Charge will be deducted at each monthly anniversary by cancellation of units. Sample mortality charges per annum per thousand of sum at risk for a healthy male life is shown below: For Age 20- Rs 1.57, For Age 30- Rs 1.74, For Age 40- Rs 2.82, F


Premium Allocation Charge Year 1 :0%
Premium Allocation Charge Year 2 :0%
Premium Allocation Charge Year 3 :0%
Premium Allocation Charge Year 4 :0%
Premium Allocation Charge Year 5 :0%
Premium Allocation Charge Year 6 :0%
Fund Management Charge :Equity Growth Fund II 1.35%, Accelerator Midcap Fund II 1.35%, Pure Stock Fund 1.35%, Asset Allocatiob Fund 1.25%, Bluechip Equity 1.25%, Liquid Fund 0.95%, Bond Fund 0.95%, Assured Return Fund- 1.25%
Surrender/ Premium Discontinuance Charge Year 1 :For AP 25,000- Lower of 20 % of (AP or FV) subject to maximum of 3000, For AP> 25,000- Lower of 6% of (AP or FV) subject to maximum of 6000
Surrender/ Premium Discontinuance Charge Year 2 :For AP 25,000- Lower of 15 % of (AP or FV) subject to maximum of 2000, For AP> 25,000- Lower of 4% of (AP or FV) subject to maximum of 5000
Surrender/ Premium Discontinuance Charge Year 3 :For AP 25,000- Lower of 10 % of (AP or FV) subject to maximum of 1500, For AP> 25,000- Lower of 3% of (AP or FV) subject to maximum of 4000
Surrender/ Premium Discontinuance Charge Year 4 :For AP 25,000- Lower of 5% of (AP or FV) subject to maximum of 1000, For AP> 25,000- Lower of 2% of (AP or FV) subject to maximum of 2000
Surrender/ Premium Discontinuance Charge Year 5 and above :Nil

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