Bajaj Allianz Life launches guaranteed income-cum-life insurance plan

This plan comes with two variants for the customers. first plan, Bajaj Allianz Life Assured Wealth Goal – Step-up Income generates an assured income that increases by 10% every 5 years after the completion of the premium paying term. The insurance company in its statement said that to meet the rising expenses, one needs a growing source of income which can ensure a comfortable and financially stable future and this plan aims to achieve this. The premiums paid are paid to the policyholder at the end of the income term.

The second edition, Bajaj Allianz Life Assured Wealth Goal – Second Income, focuses on generating an additional income to supplement one’s finances. The plan is a simple product that provides guaranteed, tax-free income for a period of 25 years or 30 years as chosen by the customer, the company said. The plan also gives the policyholders an option to receive all the premiums contributed during the policy at the end of the income term.

Key features of Bajaj Allianz Life Assured Wealth Goal Regular Plan include guaranteed long term income, increased guaranteed income, option to defer and get higher income payouts, higher returns on higher ticket sizes, premium returns and tax free income.

The Indian insurance industry has witnessed major changes in the last one year, as the pandemic has made customers of all age groups realize the importance of insurance.

“It is imperative to have a guaranteed product in one’s financial portfolio in today’s uncertain times and rising expenses. The Assured Wealth goal of Bajaj Allianz Life is designed to provide guaranteed tax-free income up to 30 years. I am sure it will suit the needs of customers who want to save systematically and invest for their long term life goals, and are assured of the amount they will receive at the end of their policy term,” said Tarun. Said Chugh, MD & CEO, Bajaj Allianz Life.