Bajaj Allianz Life Insurance has launched a new unit linked insurance plan ‘Guaranteed Maturity Insurance Plan’.
The plan is the lowest single premium plan available in India and assures that on maturity, the policyholder will get at least twice the amount invested.
In Guaranteed Maturity Insurance Plan, the premium is priced at Rs 5,000 making it extremely affordable for average investors. For every Rs 5,000 paid, the policyholder gets a ‘Guaranteed Maturity Certificate’. Hence provides the customer an option to purchase any number of Certificates under one single policy. However, one cannot make additional investments as top-up premiums are not allowed.
Benefits of Bajaj Allianz Guaranteed Maturity Insurance Plan:
. Guarantee of getting at least 2 times the amount invested
. Lowest single premium ULIP
. No premium allocation charges
. Option to buy multiple ‘Guarantee Maturity Certificates’
. Flexibility to make partial withdrawals after 5 policy years
. Affordable investment plan with minimum premium priced at Rs 5,000
Read our detailed Review of Bajaj Allianz Guaranteed Maturity Insurance Plan
This all-new guaranteed ULIP has no premium allocation charges, which should come as a relief for the policyholders. It is a flexible plan allowing the policyholder to make partial withdrawals any time after 5 policy years to meet immediate financial requirements.
ULIPs are a great investment tool as it combines the benefits of a life insurance cover and market-linked investment product. Guaranteed Maturity Insurance Plan is a very simple to understand no-frills policy with only one fund option – Guaranteed Bond Fund. However, like in all ULIPs, the investments are subject to market risk, but the guaranteed element makes it an attractive proposition for customers.