Bajaj Allianz Max Advantage Plan

Recommendations :No

Name of the policy :
Bajaj Allianz Max Advantage Plan

A brief desciption :

Bajaj Allianz Max Advantage Plan is a ULIP Policy providing fund value plus guaranteed loyalty additions at maturity and in case of death of the Life Assured the nominee gets sum assured + fund value. If the death of the policy holder is caused due to accident, then sum assured + fund value + accidental sum assured is paid to the nominee. However loads of charges and almost neglible insurance makes this product worthless.

Started date :
30/8/2010

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- PT* AP

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

Entry age :
8-60 Years

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

Minimum amount :
Min- 25,000 Max- 2 lakhs

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 2.57, For Age 30- Rs 2.74, For Age 40- Rs 3.82, F


Premium Allocation Charge Year 1 :0%
Premium Allocation Charge Year 2 :0.04%
Premium Allocation Charge Year 3 :0.04%
Premium Allocation Charge Year 4 :0.04%
Premium Allocation Charge Year 5 :0.04%
Premium Allocation Charge Year 6 :0%
Fund Management Charge :Asset Allocation Fund- 1.25%, Equity Index Fund II- 1.25%, Liquid Fund- 0.95%, Bond Fund- 0.95%, Max Gain Fund- 1.25%
Surrender/ Premium Discontinuance Charge Year 1 :6% of lower of (AP,RPFV) subject to Max Rs. 6,000
Surrender/ Premium Discontinuance Charge Year 2 :4% of lower of (AP,RPFV) subject to Max Rs. 5,000
Surrender/ Premium Discontinuance Charge Year 3 :3% of lower of (AP,RPFV) subject to Max Rs. 4,000
Surrender/ Premium Discontinuance Charge Year 4 :2% of lower of (AP,RPFV) subject to Max Rs. 2,000
Surrender/ Premium Discontinuance Charge Year 5 and above :Nil

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