Bajaj Allianz Wealth Insurance Plan

Recommendations :No

Name of the policy :
Bajaj Allianz Wealth Insurance Plan

A brief desciption :

Bajaj Allianz Wealth Insurance Plan is a single premium ULIP providing fund value at maturity and higher of SA or FV as death benefit. It also provides a guaranteed addition of 18% of Single Premium and also provides a facility to decrease the Sum Assured whenever required. 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 :

Type of policy :
Insurance cum Investment

Category :

Insurance :
Min- For 7 - 44 years: 1.25 X SP, For 45-65 years: 1.1 X SP Max- 5 X SP

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

Entry age :
7-65 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- 3,30,000

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 single premium ULIP plan providing guaranteed addition of 7% of Single premium at maturity, and it also provides flexibility to decrease the sum assured.

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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