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Allianz Bajaj Launches Unit GainPlus & UnitGain SP Plans With An Actively Managed Fund |
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Highlights:
Allianz Bajaj adds one more fund - Equity Plus Fund, to its Unit Gain Plus plans
Investment advice for the actively managed fund provided by DSP Merril Lynch
Lower Fund Administration Costs, Lower Fund Management Charges & Lower Channels Costs
Customer benefits by Zero Bid Offer spread in Unit Gain Plus.
Mumbai, July 19, 2004: Allianz Bajaj Life Insurance, the fastest growing private life insurance company has added the Equity Plus Fund, an actively managed fund, to its Unit Gain Plus & Unit Gain Plus SP plans, which are variants of the Unit Gain plans. With the addition of the Equity Plus Fund, Allianz Bajaj now extends its portfolio to a total of 5 funds. DSP Merill Lynch provides the investment advice for the Equity Plus fund.
The investment objective of this Fund is to provide capital appreciation through investment in select equity stocks that have the potential for high capital appreciation. This fund will invest at least 85% in equities and maximum 15% in debt & cash instruments.
"The Allianz Bajaj Unit Gain Plus" & the "Allianz Bajaj Unit Gain Plus SP" offer the unique option of combining the protection of life insurance with the attractive prospects of investing in securities. Customers can choose the investment funds in which they want to invest their money, providing them with an opportunity to have a direct stake in the performance of the financial markets. The customers also benefit from attractive tax advantages and can protect their loved ones against unfortunate events.
"With these plans, one can invest in one life insurance plan that can take care of all changing requirements of the customers throughout their life. This plan has been designed to provide customers with maximum flexibility, so that they do not have to worry about their changing needs. These two plans come with a host of features to allow you to have the best of all worlds - Protection and Investment with flexibility like never before." says Sam Ghosh, Country Manager & CEO, Allianz Bajaj Life Insurance.
Some of the key benefits of the plans are:
Guaranteed death benefit
Choice of 5 investment funds with flexible investment management: you can change funds at any time.
Attractive investment alternative to fixed-interest securities
Provision for full/partial withdrawals any time after three full years' premiums are paid.
Unmatched flexibility to match your changing needs.
In addition to the above the Unit Gain Plus SP plan also offers convenient single premium payment, with option to pay top-ups later.
These plans will provide maximum benefit to customers & better value for Policy Holders. Direct comparisons will be more favourable across competitors due to lower operational costs i.e., Lower Fund Administration Costs, Lower Fund Management Charges & Lower Channels Costs. Also, the customer has an advantage due to zero Bid Offer spread in Unit Gain Plus.
One of the prominent features of the plans is that a major part of the premium will be invested in one of the funds. In other words, there is a higher allocation (76% in Year 1 & 97% from year 2 onwards). The customer also benefits by having the option to choose from 5 funds. The plans also permit 3 Free Switches for Intra-Transfer of Funds per annum. Also, the customer is provided with flexibility to increase his/her Risk Coverage 4 times of SA or Rs. 100000/- whichever is lower between ages 18 to 45 years. After payment of 3 full years of premiums the customer has the option of Premium Holiday. The Unit Gain Plans also provide unmatched flexibility of increasing/decreasing the premiums after receiving first 3 years premium.
Allianz Bajaj Life Insurance Company has developed insurance solutions that cater to every segment and age-income profiles. Its products include Invest Gain (a unique life insurance plan where sustenance of income is combined in the same plan that also pays a lump sum), Cash Gain (Money Back), Child Gain (Children's plan), Risk Care (Pure Term), Lifetime Care (whole life), Term Care (term with return of premium), Swarna Vishranti (Retirement Plan), Protector (Mortgage term insurance plan), Unit Gain (Unit Linked Whole of Life Plan) and Unit Gain Single Premium.
Allianz Bajaj is poised for an accelerated growth in the market and has already become the fastest growing private life insurance company in India. Allianz Bajaj has a wide pan India presence of office network in 156 cities of the country and is aided with a strong and trained Agency network of over 27,000 agents. Allianz Bajaj has also forged strong Bancassurance and Corporate Agency relationships and continues to build on new tie-ups for fast track growth and deep market penetration.
Allianz Bajaj has launched a slew of need-based products to cater to each varied needs of the customer. Currently Allianz Bajaj has a product portfolio of 18 products and more need-based products are in the pipeline.
For further information, please contact:
Bhavesh Singhi / Harsh Mehta / Namita Jadhav
Corporate Voice|Weber Shandwick
Tel: 91 22 2202 2335 / 2202 2293 / 22812957
Fax: 91 22 22022391 |
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