Bajaj Allianz Term Plan Review: Life insurance is a protection plan that helps the family financially in case of an untimely death. It also helps ensure that your loved ones are taken care of by the company.
Bajaj Allianz Term Plan is an easy-to-buy policy that provides financial security and ensures that your loved ones are protected in the future. Check out the features and benefits of these plans and choose the one that suits your family’s needs.
Life Goal Based Saving
Life Goal-Based Saving is a savings approach that helps you save for specific goals, such as a vacation or a tattoo. The process starts with setting a target and transferring a set amount from your current account to the account you want to meet the goal with.
Then, it’s up to you to track your progress toward meeting your target and ensure that you have enough money saved by the time you reach that goal. However, some factors can make this challenge more difficult.
One of them is the length of time it will take you to reach your goal, which is determined by your financial stage. “Whether you’re a young professional trying to save for your first home or a retiree who’s saving for retirement, each stage requires different saving strategies,” says McLay.
The goal-based saving approach can be a great way to help you save for your goals while also helping you manage your cash flow. It’s a good idea to consult with a financial planner before you begin the process, but you must have a solid understanding of your own goals.
Life Principal Gain
Bajaj Allianz Life Principal Gain is a Unit Linked Insurance Plan (ULIP) that offers you three benefits in one – principal protection, life cover, and market-linked returns. The unit-linked policy also helps you achieve your financial goals through its guaranteed maturity benefit.
The ULIP also has loyalty additions starting from the 10th policy year, which you can receive in installments as well. It comes in 2 variants and provides a range of optional riders.
Premium payments can be made using your internet banking, credit cards, debit cards, or Netbanking. You can also email the Bajaj Allianz Customer Care Team or chat with them for any issues or clarifications related to your life insurance policy.
Young Assure
Young Assure from Bajaj Allianz is a savings plan that offers insurance and saving options. The program is designed to help people save efficiently and build their futures.
The plan offers tax-free monthly income, and a bonus to enhance your savings. The policy also offers the option of taking a loan against your policy, which can be repaid once you reach maturity.
This is an excellent option for those looking for a good life insurance policy. It is easy to understand and provides the right coverage to ensure that your family is well taken care of in the future.
It is a non-linked whole-life plan specially designed to provide cash bonuses from the 6th year onwards and a guaranteed death benefit. The customer can receive the policy payout as a monthly installment or revive it at any time.
Capital Goal Assure
Term Insurance Plans are the most efficient way to protect your family in case you die unexpectedly. In addition to a death benefit, these policies also offer tax benefits under Section 80C of the Income Tax Act.
ULIPs, or Unit Linked Insurance Plans, are another investment avenue that combines life insurance and investments. However, they can be complicated and feature hefty charges.
One such plan is Bajaj Allianz Capital Goal Assure, which offers a mix of life cover and potential for better returns on your investment. It provides 8 different fund types, four portfolio strategies, and tax-free investment returns.
The first strategy, Investor Selectable Strategy, allows you to invest 8 funds based on your risk appetite. The other three systems, Wheel of Life, Trigger-based, and Auto transfer, systematically allocate your money to different funds. In this way, you can move from low-risk to high-risk/high-return funds as your risk tolerance changes. Switching charges are also avoided in these strategies.
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