Bajaj Allianz Life innovates savings plans with Bajaj Allianz Life ACE
- Launches first-of-its-kind feature that helps customise cash flow as per Life Goals
Chennai,September 5, 2023: Bajaj Allianz Life Insurance, one of the leading private life insurers, launched the ace of savings plans, today. Bajaj Allianz Life ACE, a non-linked, participating, early income life insurance plan, offers enhanced flexibility to customers to tailor-make the cash flows as per their unique financial requirements. Participating or savings life insurance plans are popular amongst customers as they offer three key features - safety, liquidity and returns. Bajaj Allianz Life's existing savings plans not only come with these features but are backed by consistent high returns and bonuses declared by the Company, regularly. With its latest savings plan, Bajaj Allianz Life ACE, the Company has further strengthened the advantages offered by its savings plans.
Bajaj Allianz Life ACE is suitable for all those customers who are keen to create and control their income flow to plan for multiple life goals. Through this product, customers can now choose either a higher income to create an additional source of income, or a higher lumpsum to create a legacy or enjoy the balance of both regular income and lumpsum. All this in addition to the life cover the product offers. Never have participating or savings life insurance plans offered customers this kind of flexibility and given them power of choice to design their income flow as per their needs.
Speaking at the launch of Bajaj Allianz Life ACE, Mr. Tarun Chugh, MD & CEO of Bajaj Allianz Life, said, "To make traditional savings products more beneficial for customers, I'm happy to introduce, for the first time ever, the component of enhanced flexibility in a participating plan. This feature will provide the customers the power of choice. Depending on their financial goal, customers can choose the level of income, when & for how long they want the income, and how they want their cash flow. This wasn't possible earlier. This flexibility backed by our consistent past performance gives me the confidence that our new savings plan will have a strong place in our customers' financial portfolio."
KEY FEATURES OF BAJAJ ALLIANZ LIFE ACE
Bajaj Allianz Life ACE offers flexibility with its key feature of dynamic income options. Here, customers can choose the desired income, income start year, income period, adjust maturity benefits as per their goals and much more at the start of the policy! This feature ensures that in addition to receiving a life cover, customers can fulfil their diverse financial requirements through just this one plan.
Other unique aspects of Bajaj Allianz Life ACE include early or deferred income option, which enables customers to receive income right from the start of the policy or defer the start of your income for up to 5 years. This can be from the end of first month of paying the premium or deferring it to a specific period to suit their financial needs. The product also allows customers to choose their income tenure, starting with a minimum of 10 years to up to the age of 100 years.
Additionally, Bajaj Allianz Life ACE also provides the Goal Protection Benefit as an option that ensures the policy holder's family continues to get the income through the policy term, even if the policy holder was to pass away during the policy term.
