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Monday, April 4, 2011

BAJAJ ALLIANZ ASSURED PROTECTION PLAN

About Policy : Bajaj Allianz Insurance Company Limited introduced the new policy in October-2010 that is related to Unit Link Investment Plan that is Assured Protection Insurance Plan. A plan that is Secure your children’s future. And this is completely based or depended on a Government Sectors and your insurance 70% amount will be investing in capital market. Insurance Details : Bajaj Allianz Assured Protection Insurance Plan minimum age of entry is 1 years (18 years in case of additional rider benefits) and maximum 60 years (50 years in case of additional rider benefits), minimum sum assured is below 45 years : 10 times annualized premium, 45 years and above : 7 times of annualized premium amount and Maximum sum assured is policy term times annualized premium. If any rider has been opted then maximum sum assured shall be same as the minimum sum assured. Minimum and Maximum Age at Maturity is 18 to 75 years. Minimum Policy term is 10, 15 and 20 years. Minimum Regular Premium Amount is Rs.15000/- for per yearly installment. Maximum Regular Premium amount is Rs.24,000/- for per yearly installment. Minimum premium paying term is 7 years and maximum is as per policyterms. Premium payment frequency is annual only. Key Benefits : 100% allocation from the 10th policy year onwards. Option to select your policy term from 10, 15 and 20 years and premium paying term from 7 years to policy terms. Additional sum assured in case of accidental death. Choice of 7 investment funds and 2 investment portfolio strategies to invest in as per your risk appetite. Flexibility to pay unlimited top up premium and make partial withdrawals. Flexibility to change your premium paying term. Optional riders to enhance protection. Plan your maturity proceeds with settlement option. Premium Allocation Charge : 1 year allocation charges is 10%. 2 to 5 years allocation charges is 6%. 6 to 9 years allocation charges is 1%. and 10 to above years allocation charges is 0%. All top ups have a premium allocation charge of 2%. Policy Administration Charge : During PPT: 2% of annual premium fixed for the first 5 policy years and then inflating at 5% per annum from the 6th policy year. After PPT : 50% of the above inflated PAC, inflating at 5% p.a. The charge will be deducted at each monthly anniversary by cancellation of units. Fund Management (FM) : 1.35% for equity growth fund II, Accelerator MID-cap fund II and pure stock fund, 1.25% for asset allocation and bluechip equity fund, 0.95% for liquid fund and bond fund this charge would be adjusted in unit price. Switching Charge : NIL, the plan offers unlimited free switches. Miscellaneous charge : The miscellaneous charge would be charged at the rate of Rs.100/- per transaction in respect of, change in premium apportionment or portfolio strategy, charge in premium paying term, partial withdrawal, decrease in sum assured or issuance of copy of policy document. Service tax on charges : Service tax will be applicable on mortality charge, rider premium charge. and fund management charge. Tax Benefits : As per the Policy terms and conditions. And you have 15 days fee look period also. If you want to purchase this policy please contact your nearest Bajaj Allianz Life Insurance Branch office or visit on www.bajajallianz.com or contact me on : +91-98860-43598.

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