Bajaj Allianz Life introduces ULIP with no surrender charges

Bajaj Allianz Life Insurance has introduced the Bajaj Allianz Fortune Plus, which it describes as a wealth creating ULIP which takes care of all investment requirements of the policy holder.

This is one of the First ULIPs in the market to offer zero surrender charges and high allocation from day one, which is now available at affordable premiums to masses starting at Rs15,000 per annum only.

According to Kamesh Goyal, country manager Allianz and CEO Bajaj Allianz Life Insurance the Fortune Plus was the best investment plan for the Indian masses, as it provided unmatched flexibility, high allocation, zero surrender charges and un-limited top-ups''.

Goyal said, ''We add value to customer portfolio by providing extra allocation for their continued loyalty with us in this product and enable them to create a personal wealth for themselves and their family. We also provide continued participation in investment even if our customers are unable to pay regular premiums.''

The product also has the benefit of the insurer's new fund offering 'Asset Allocation Fund' to hedge market instruments to maximise the returns.

Highlights of Fortune Plus:

• A high wealth creation tool offering more than 100 per cent premium allocation for policy term of 10 years and above
  
• Among the lowest charges amongst the category
  
• Available for three terms also of 10, 15 and 20 years
  
• Offers the flexibility of unlimited top ups
  
• Zero surrender charges 
  
• Option to increase or decrease premium on a regular basis.
  
• Offers advantage of additional rider benefits, UL waiver of premium benefit and UL family income benefit, making it the best financial planning tool for your child's future.  
  
• 'Asset Allocation Fund', a new fund offering to hedge risks by shifting the funds from equity to debt and debt to equity during adverse market conditions
  
• Continued participation in investment performance of the fund(s) even if you are not able to pay three full years premium
  
• Flexibility of withdrawals (partial or full) at any time after three years