‘10-yr term provides high allocation, unmatched flexibility, loyalty benefits’

Providing new insurance products to its customers the Bajaj Allianz on Thursday launched a unit linked investment plan CenturyPlus.
A spokesman of the company in a statement said the systematic investment plan designed for a 10-year term provided high allocation, unmatched flexibility, loyalty benefits and continued participation in investments making it one of the finest products.
Giving details the statement said the Bajaj Allianz CenturyPlus offered 98 per cent allocation for the first 2 years and 100 per cent allocation for all subsequent premiums paid.
The statement quoted Area Head Bajaj Allianz Life Afaq Ahmad saying, “CenturyPlus is an investor focus plan that gives the benefit of high allocation and also gives twin benefits of sum assured plus fund value.”
“For the first time we offer unit to our customers, which would enhance the investor fund value,” he said.
“Bajaj with CenturyPlus for the first time offer loyalty units, which enhance fund value from the 6th year onwards; 7 percent loyalty units as percentage of 1st year’s annualized premium and additional 0.25 per cent loyalty units as percentage of fund value in respect of regular premium,” he said.
Counting some of the key features of the plan the statement said: “Take maximum advantage of booming markets today and get maximum allocation to your funds from first year onwards. 1st and second year 98 per cent allocation; third year onwards 100 per cent.”
“Guaranteed life cover with twin benefits of sum assured plus fund value. Loyalty units to enhance your fund value every year from the sixth policy year 7 per cent of first year, annualized premium and also get an additional 0.25 per cent of fund value in respect to regular premium greater or equal to Rs 1 lakh,” the statement said.
Introducing ‘asset allocation fund’ looks after your investments even when the market conditions change. “Our experienced fund mangers monitor the mix of assets in the fund and manage the mix in such situations to maximize your returns. Apart from this get five other funds to choose from,” it said.
The statement said get the option of limited premium payment between 3 to 10 years.
Some other advantages of the product are: continued participation in investment performance even if you are unable to pay the premium for 3 years. Flexibility of partial withdrawals at any time after 3 years from commencement of the policy provided 3 years premiums are paid and 3 free switches every year.
A host of optional additional rider benefits which includes assurance to your family with accidental death benefit and accidental permanent total/partial disability benefit.
Option to pay unlimited top up premiums anytime during the tenure of your policy to further enhance your savings.