Bajaj Allianz launches Invest Plus Premier - an easy to buy traditional plan
Offers Guaranteed Investment Return (GIR) for each financial year; Continuation of cover after payment of atleast 3 annual premiums; Loyalty Addition from 11th Policy year onwards; Minimum premium as low as Rs.6000/-
Tweet-- Bajaj Allianz Life Insurance, one of the leading private life insurance companies in India has launched Invest Plus Premier- a traditional plan that offers Guaranteed Investment Return. The highlight of the product is the ease of buying this product in five simple steps. Available in a kit form, the policy can be bought by - selecting the cover and rider, fill the proposal form, pay the premium by modes like cash, cheque, DD or credit card, SMS the kit number to activate the kit, handover to agent.
Some of the other unique feature of Invest Plus Premier is that it offers guaranteed benefits like minimum Guaranteed Maturity Value (GMV) and Guaranteed Investment Return (GIR). The Guaranteed Investment Return (GIR) is declared at the beginning of each financial year itself during the policy term and for the current financial year 2010-11, it is 7.05%. The plan also offers 3 simple to purchase Kit options viz. Rs. 6000, Rs. 8000 and Rs. 10,000 being the premium amount. The premium amount is as low as Rs. 6000 so as to make it affordable to a large section of the society. There is Loyalty Addition from 11th policy year onwards and refund of up to 75% of Life Insurance Risk Premium at maturity. The minimum GMV is equivalent to the total regular premiums paid till maturity date. Loyalty addition from 11th policy year shall enhance the accrued maturity value by an amount equivalent to 10% of each Net Premium paid.
Launching the product, Akshay Mehrotra, Head - Marketing, Bajaj Allianz Life Insurance, said, "Customer insights had revealed that they prefer an easy-to- understand and easy-to-buy life insurance policy. With Invest Plus Premier, we have incorporated these features besides offering "certain" benefits in these uncertain times."
Invest Plus Premier offers flexibilities by which a customer can administer the policy as per their own needs and gets the policy instantly. There is also an option to choose sum assured of 10, 15 or 20 times the annualized premium. Life Insurance cover continues, even if the customers fail to pay regular premiums after payment of at least three annual premiums. Option to pay additional premium at anytime and up to 117% credit on additional premium further boosts the maturity benefit. The death benefit is the sum assured and the accrued maturity value under the policy.
Key Benefits of Invest Plus Premier Policy
- Get 7.05% Guaranteed Investment Returns for the FY 2010-11
- 10% of each net premium added as Loyalty Additions from the 11th Policy year
- Refund of 75% of the cost of Life Insurance cover at maturity
- Get an option to pay Additional Premiums to enhance your savings
- Get upto 117% credit on Additional Premiums paid
- Choice of additional rider cover as per your requirement
- Life Insurance cover continues, even if you fail to pay your regular premiums post 3 annual premium payments
Notes to Editor
About Bajaj Allianz
Bajaj Allianz is one of the leading Private Sector life & general insurance companies in India. Bajaj Allianz is a union between Allianz SE, the world's leading insurer and Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited, one of India's most respected names). Allianz SE is a leading insurance conglomerate globally and one of the largest asset managers in the world, managing assets worth over a Trillion Euros (over Rs. 55, 00,000 crores). At Bajaj Allianz, customer delight is our guiding principle. Ensuring world class solutions by offering you customized products with transparent benefits supported by the best technology is our business philosophy. Bajaj Allianz began its operations in 2001 and today has a pan-India presence with over with offices and presence in over 1100+ towns in the country. The companies have been constantly expanding its operations to be close to their customers.
Bajaj Allianz Life Insurance has developed insurance solutions that cater to every segment and age-income profiles. Currently Bajaj Allianz has a strong product portfolio of over 30 flexible products and caters to all kinds of customer needs from ULIPs to Child plans, from group insurance to health insurance.