Bajaj Allianz Life Insurance has launched a traditional money-back
plan – Bajaj Allianz Cash Rich,
which gives guaranteed cash back of 5% of the sum assured after completion of
premium payment term. The plan is a
limited premium payment, participating plan that provides cash benefits at
three stages of the policy life cycle.Bajaj Allianz Retirement plans India are getting popular day by day. It is a beneficial offer.
Akshay
Mehrotra, Head-Marketing, Bajaj Allianz Life Insurance said, “By paying a small amount for a
few years, you can get returns year on year. The cash back at multiple stages
of the policy term makes the plan idea for all customer age groups –
youngsters, salaried people, married couples or senior citizens nearing
retirement – and help them meet various financial objectives with the
additional annual income. The low annual premium of Rs. 8000 makes it
affordable to a larger section of the population.”
The stages at which
cash benefits are given are:
·
Completion of
Premium Payment Term
– An accumulated compound reversionary bonus is payable
·
Cash Back Period – After the
premium payment term is completed up till the maturity date, a Cash Back
benefit of 5% of the sum assured plus cash bonus (if any declared) is payable every
year
·
Maturity of
Policy
- Sum Assured plus terminal bonus
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