Private sector life insurance company, Bajaj Allianz Life Insurance, today announced the launch of its wealth-creating ULIP, ‘Bajaj Allianz Fortune Plus’.
The product would be the first ULIP to offer Zero Surrender Charges and high allocation from day one, a press release issued here said.
It would be available at affordable premiums to masses starting at Rs 15,000 per annum only. “This is the best investment plan for the Indian masses, it provides unmatched flexibility, high all ..
Introduction
- Explanation of the purpose of the article
- Brief overview of Bajaj Allianz Fortune Plus
What is Bajaj Allianz Fortune Plus?
- Definition of Bajaj Allianz Fortune Plus
- Explanation of its features and benefits
- Comparison with other insurance policies in the market
Why Choose Bajaj Allianz Fortune Plus?
- Comprehensive coverage of different risks
- Flexible premium payment options
- Availability of riders to enhance coverage
- Assured returns and bonuses
How to Avail Bajaj Allianz Fortune Plus?
- Eligibility criteria for availing Bajaj Allianz Fortune Plus
- Steps to purchase the policy
- Required documents for availing the policy
Benefits of Bajaj Allianz Fortune Plus
- Guaranteed returns and bonuses
- Tax benefits under different sections of the Income Tax Act
- Coverage for critical illnesses
- Optional riders to enhance coverage
What is Bajaj Allianz Fortune Plus?
Bajaj Allianz Fortune Plus is a non-participating, non-linked, individual, unit-linked endowment plan that provides comprehensive coverage against different types of risks. It is a life insurance policy that combines the benefits of protection and savings in one single policy. The policyholder has the flexibility to choose the premium payment term and the policy term as per their requirement.
Bajaj Allianz Fortune Plus comes with a host of features that make it a unique insurance policy in the market. It provides guaranteed returns and bonuses, along with the option of availing riders to enhance coverage. The policy also provides tax benefits under different sections of the Income Tax Act.
Why Choose Bajaj Allianz Fortune Plus?
Bajaj Allianz Fortune Plus is a good choice for securing your future because of the following reasons:
Comprehensive coverage of different risks
Bajaj Allianz Fortune Plus provides comprehensive coverage against different types of risks, including death, critical illnesses, and accidental disabilities. The policy ensures that your family is financially secure in case of any unforeseen events.
Flexible premium payment options
The policy provides flexibility in premium payment options. The policyholder can choose the premium payment term and the policy term as per their requirement. The policy also allows for partial withdrawal after a certain period, which helps in managing the financial requirements of the policyholder.
Availability of riders to enhance coverage
Bajaj Allianz Fortune Plus provides the option of availing riders to enhance coverage. The riders include the Critical Illness Benefit Rider, Waiver of Premium Benefit Rider, and Accidental Death Benefit Rider.
Assured returns and bonuses
Bajaj Allianz Fortune Plus provides guaranteed returns and bonuses to the policyholder. The policy offers a minimum guaranteed return of 1% p.a. on the total premiums paid during the policy term. The policy also provides bonuses that are declared annually and are payable on maturity or death.
How to Avail Bajaj Allianz Fortune Plus?
To avail of Bajaj Allianz Fortune Plus, the policyholder needs to meet the following eligibility criteria:
- The minimum age of entry is 1 year, and the maximum age of entry is 60 years.
- The minimum policy term is 10 years, and the maximum policy term is 25 years.
- The minimum premium payment term is 5 years, and the maximum premium payment term is equal to the policy term.
To purchase the policy, the policyholder needs to follow these steps:
- Visit the official website of Bajaj Allianz Life Insurance.
- Select the Bajaj Allianz Fortune Plus plan.
- Fill in the required details and choose the premium payment term and policy term.
- Upload the required documents and make the premium payment.
The documents required to avail of Bajaj Allianz Fortune Plus are:
- Identity proof (Aadhaar Card, PAN Card, Voter ID, Passport)
- Address proof (Aadhaar Card, Passport, Driving License, Utility Bills)
- Age proof (Birth Certificate, School/College Leaving Certificate, Passport)
Benefits of Bajaj Allianz Fortune Plus
Bajaj Allianz Fortune Plus offers the following benefits to the policyholder:
Guaranteed returns and bonuses
The policy provides guaranteed returns and bonuses to the policyholder. The policy offers a minimum guaranteed return of 1% p.a. on the total premiums paid during the policy term. The policy also provides bonuses that are declared annually and are payable on maturity or death.
Tax benefits under different sections of the Income Tax Act
The policy provides tax benefits to the policyholder under different sections of the Income Tax Act. The premium paid towards the policy is eligible for tax benefits under Section 80C of the Income Tax Act. The policyholder can also avail tax benefits on the maturity proceeds and bonuses received under Section 10(10D) of the Income Tax Act.
Coverage for critical illnesses
Bajaj Allianz Fortune Plus provides coverage for critical illnesses through the Critical Illness Benefit Rider. The rider provides a lump sum benefit in case the policyholder is diagnosed with any of the critical illnesses covered under the policy.
Optional riders to enhance coverage
Bajaj Allianz Fortune Plus provides optional riders that can be availed to enhance the coverage of the policy. The riders include the Critical Illness Benefit Rider, Waiver of Premium Benefit Rider, and Accidental Death Benefit Rider.
FAQs
- What is the minimum and maximum entry age for Bajaj Allianz Fortune Plus?
- The minimum entry age is 1 year, and the maximum entry age is 60 years.
- Can I surrender Bajaj Allianz Fortune Plus before the maturity period?
- Yes, the policy can be surrendered before the maturity period. However, surrender charges may apply.
- Can I avail of tax benefits under Section 80C of the Income Tax Act for Bajaj Allianz Fortune Plus?
- Yes, the premium paid towards the policy is eligible for tax benefits under Section 80C of the Income Tax Act.
- What is the tenure of Bajaj Allianz Fortune Plus?
- The minimum policy term is 10 years, and the maximum policy term is 25 years.
- What are the documents required to avail Bajaj Allianz Fortune Plus?
Conclusion
- Recap of the main points of the article
- Summary of the benefits of Bajaj Allianz Fortune Plus
- Final recommendation to avail the policy
Bajaj Allianz Fortune Plus is a comprehensive insurance solution that offers a wide range of benefits and features to cater to different types of risks. In this article, we will discuss the various features and benefits of Bajaj Allianz Fortune Plus and why it is a good choice for securing your future.
