Bajaj Allianz Shield Insurance

Recommendations :No

Name of the policy :
Bajaj Allianz Shield Insurance

A brief desciption :

Bajaj Allianz Shield Insurance is a single premium fixed term ULIP where on maturity you get the Single Premium Fund Value and Top-up Premium Fund Value (if any) plus the Guaranteed Addition. Moreover In case of death of the Life Assured before attaining 60 years of age, the nominee gets Higher of Sum Assured less partial withdrawals made last 24 months (if any) or The Fund Value and In case of death of the Life Assured after attaining 60 years of age, the nominee gets Higher of Sum Assured less partial withdrawals made in last 24 months before age 60 years and all partial withdrawals made after age 60 years or The Fund Value. 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 :
11/10/2010

Type of policy :
Insurance cum Investment

Category :
ULIP

Insurance :
Min- For Age 8-44 yrs = 1.25 x Single Premium, For Age 45-65 yrs = 1.1 x Single Premium Max- For Age 8-55 yrs = 5 x Single Premium, For Age 56-65 yrs =1.1 x Single Premium

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

Entry age :
8-65 Years

Surrender :
If the policy holder wants to surrender the policy before completing 5 years, then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and your fund value shall be paid immediately and the policy would be terminated.

Minimum amount :
Min- 25,000 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

surrender changes :
No surrender charge

Unique features :
It is a fixed term ULIP Plan providing guaranteed addition of upto 6% of single premium at maturity. It also provides flexibility to decrease sum assured to 1.25 times of the premium for age below 45 years and 1.1 times of the premium for other ages


Fund Management Charge :Asset Allocation Fund- 1.25%, Equity Growth Fund II- 1.35%, Bond Fund- 0.95%, Liquid Fund- 0.95%, Accelerator Midcap Fund- 1.35%, Bluechip Equity- 1.25%, Pure Stock Fund- 1.35%

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