Bajaj Allianz Life Insurance, one of leading private
life insurer has announced that it has received necessary regulatory approvals
for its individual and group insurance plans under the new product guidelines.
The two individual life insurance plans are-'Save Assure' and 'Invest Assure'
with a guarantee element; and one whole life plan, 'Life Long Assure'.
Bajaj Allianz, in its release issued yesterday, said, “These insurance plans will help the customers cover different needs that may arise at different stages in life. These plans offer the customers the flexibility to choose the policy term, policy payment term and come with an option to take the policy benefit in monthly instalments."
“We will be launching a suite of online and channel specific insurance plans by the end of January 2014", said the statement adding, “These plans are not only compliant with the new regulatory guidelines but are customer oriented and easy to understand."
Save Assure is a traditional endowment plan that provides guaranteed returns of 115% of the sum assured with policy terms of 15 and 17 years, premium payment terms of 10 and 12 years and no premiums payable in the last five policy years.
Invest Assure is also a traditional endowment plan which provides protection to the consumer and his family by providing financial benefits.
While, Life Long Assure is a non-linked whole life plan with a cover up to age of 100 years, cash bonus starting from end of 6th year, guaranteed cash back starting from end of premium payment term and guaranteed benefit of up to 300 % of sum assured on maturity or death, whichever is earlier.The company will also launch 6 group insurance plans - Group Term Life, Group Term Care, Group Credit Protection Plus, Group Superannuation Secure, Group Employee Benefit and Group Term Care.
Bajaj Allianz Life Insurance Company Limited is a joint venture between Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited) and Allianz SE, a leading insurance conglomerate globally and one of the largest asset managers in the world.
Bajaj Allianz, in its release issued yesterday, said, “These insurance plans will help the customers cover different needs that may arise at different stages in life. These plans offer the customers the flexibility to choose the policy term, policy payment term and come with an option to take the policy benefit in monthly instalments."
“We will be launching a suite of online and channel specific insurance plans by the end of January 2014", said the statement adding, “These plans are not only compliant with the new regulatory guidelines but are customer oriented and easy to understand."
Save Assure is a traditional endowment plan that provides guaranteed returns of 115% of the sum assured with policy terms of 15 and 17 years, premium payment terms of 10 and 12 years and no premiums payable in the last five policy years.
Invest Assure is also a traditional endowment plan which provides protection to the consumer and his family by providing financial benefits.
While, Life Long Assure is a non-linked whole life plan with a cover up to age of 100 years, cash bonus starting from end of 6th year, guaranteed cash back starting from end of premium payment term and guaranteed benefit of up to 300 % of sum assured on maturity or death, whichever is earlier.The company will also launch 6 group insurance plans - Group Term Life, Group Term Care, Group Credit Protection Plus, Group Superannuation Secure, Group Employee Benefit and Group Term Care.
Bajaj Allianz Life Insurance Company Limited is a joint venture between Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited) and Allianz SE, a leading insurance conglomerate globally and one of the largest asset managers in the world.
Source: http://www.insuringindia.com
No comments:
Post a Comment
So, what do you think?