InvestorQ : Can you tell me about the latest ULIP plan launched by Bajaj Allianz Life?
sara Kunju made post

Can you tell me about the latest ULIP plan launched by Bajaj Allianz Life?

2 years ago

Bajaj Allianz, which is a part of Bajaj Finserv, has introduced a ULIP which intends to create wealth for customers; at the same time offering risk management and the attainment of long term goals. This policy will adopt a financial planning based approach to customers.

The big challenge in the growth of ULIPs has been the high loading. Bajaj plans to address the big issue of charges on ULIPs too. It has a unique Return of Premium Allocation Charge (ROAC) feature which returns the ROAC at the end of 10th policy year or maturity.

In the first wealth variant of the ULIP, customers will be allowed to choose from 5 investment portfolio strategies. Buyers will also the option to reduce the regular premium from the sixth policy year onwards.

The more interesting version for financial planning would be the Child Wealth variant which has an in-built waiver of premium on death or permanent disability of the bread winner. This plan also offers periodic income to meet child’s education goals.

The give strategies offered by the fund include; Investor Selectable Portfolio strategy, Wheel of Life Portfolio strategy, Trigger Based Portfolio strategy, Auto Transfer Portfolio strategy and the Capital Preservation-Oriented Strategy. Customers can choose their pick.