Bajaj Allianz Money Secure Plan

Recommendations :No

Name of the policy :
Bajaj Allianz Money Secure Plan

A brief desciption :

Bajaj Allianz Money Secure Plan is a ULIP Policy providing fund value at maturity and higher of fund value or Sum Assured in case of unfortunate demise of the life insured. However loads of charges and almost neglible insurance makes this product worthless.

Started date :
3/1/2011

Type of policy :
Insurance cum Investment

Category :
ULIP

Insurance :
Entry Age < 45 - 10 times annualised premium For Age >45 - 7 times the annualised premium, Max- 20 times AP

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

Entry age :
3-65 Years

Minimum amount :
Min- 7,000 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 :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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