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I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) or on National Do Not Call Registry (NDNC), any call made, SMS or WhatsApp sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business

 

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ULIP calculator

What is the amount you need to achieve your Life Goals ?

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What is a ULIP Calculator?

Before investing your hard-earned money, it is important to ensure that the selected ULIP plan is suitable for your needs. A ULIP return calculator can help you get an idea of the various aspects of ULIPs. A ULIP calculator is a handy online tool that tells the investors the amount they can expect at maturity after investing a specific amount for a particular tenure. It takes into account all the crucial data points like tenure, premium, age and rate of return to provide expected returns on investment. 

A Unit Linked Insurance Plan (ULIP) allows you to create a tailored corpus for your financial goals with market-linked returns. As ULIP returns depend on market performance and aren't guaranteed, understanding expected returns is very crucial. A ULIP calculator is essential when purchasing a ULIP for assessing necessary savings to achieve a desired corpus and determining the required investment amount. It guides in evaluating the adequacy of your savings and aids in planning finances effectively based on determined savings needed for specific financial objectives, ensuring proper allocation of the required amount.

The ULIP calculator is an online tool that uses investor-provided data to estimate returns. For long-term insurance and investment plans like ULIPs, it's recommended to use a maturity amount calculator beforehand for an idea of the expected returns.

The key information required by a ULIP plan calculator is:

• Frequency of premium payment

• Premium amount

• Type of fund

• Rate of return

• Investment duration

Many ULIP maturity amount calculators give an additional option of dividing the investable amount into risk-free and market-linked investments. The rate of return of different types of investments are based on various assumptions and can vary. The ULIP plan calculator should be used to get an idea of the maturity amount, but the amount should be used only as a tentative figure and not to be used as the base for firm decisions.

Knowing ULIP charges gives a clear idea of the amount that is invested and the overall returns. Here are some of the major ULIP charges:

• Premium allocation charges

The premium allocation charge is an upfront fee deducted from the premium paid by the investor. The premium allocation is levied as a percentage of the premium. It covers the cost of selling the policy which includes underwriting costs, medical expenses and distributor’s fee.

• Mortality charge

ULIPs pay a pre-decided amount to the family of the insured on his/her demise during the policy term. The insurance company levies a mortality charge to cover the cost of life insurance. Mortality charges in ULIP depend on a variety of factors like age, health and the sum assured sought by the investor. Many new-age ULIP plans return the mortality charges at the time of maturity which may boost the overall corpus and improve the value proposition of ULIPs for potential investors.

• Fund management charges

A unit-linked insurance plan provides the option to select from a variety of funds with different proportions of equity and debt. When you invest your money into market-linked funds through a ULIP, a fund management expert manages the accumulated funds to generate desirable returns. Insurance companies levy a fund management charge for the services of the professional fund manager.

• Policy administration charges

ULIPs provide dual benefits of life insurance with an investment that requires a substantial amount of administrative work. Insurers levy policy administration charges to cover the cost of administrative work like record-keeping. The policy administration charge is a regular ULIP charge and is deducted monthly.

• Surrender charge

To ensure a minimum level of returns for policyholders, ULIPs have a five-year lock-in period. One is not allowed to withdraw money before five years. However, if a policyholder decides to discontinue a ULIP policy within the lock-in period, the insurance company levies a surrender charge, also known as the policy discontinuance charge. The surrender charge depends on the year of discontinuance.

Here are some of the features of a ULIP Calculator:

1. Plan Life Goals Better

ULIP calculator ensures that you can get an idea of how much corpus you would require to get your life goals done by providing comprehensive details of the investment funds and the expected returns. With ULIP calculators, you can get a broad idea of the amount to expect at maturity. On the other side, you can also provide the amount to earn and get the duration required to achieve the goals.

2. Flexibility

Investors can change the variables to change the output according to their needs. Sometimes, frequent modifications may be required to get a comprehensive picture and ULIP calculators offer adequate flexibility.

3. Control

Investors can control the information they want from a ULIP calculator. The expected rate of return, premium amount and duration can be modified to get different results as required.

4. Goal-Based Planning

Setting a goal and formulating a plan for achieving it is considered to be a foolproof strategy. Having a goal makes it easier to save. ULIP calculator helps in goal-based planning by analyzing all the fund options and their returns.

The ULIP calculator is a simple tool but has a high utility. There are several benefits of using a ULIP calculator:

1. The ULIP calculator is easy to understand and does not require any special instructions.

2. ULIP calculators are easy on the pocket. ULIP calculators are free of charge and users do not have to pay anything to plan for their future.

3. ULIPs are long-term investments and by giving a rough idea of the returns to expect and the maturity amount, ULIP calculators help investors make an informed decision.

4. Many people opt for unit-linked plans just for ULIP tax benefits, but ULIP benefits also include flexibility of investment. ULIPs offer a variety of fund options, which can be confusing for some. ULIP calculator helps investors know which funds to opt for to achieve their stated financial goals.

5. The optimum duration of an investment is an important consideration for every investor. By using a ULIP calculator, investors can get the estimated duration required to accumulate the required wealth at a specific rate of return.

ULIP Plans By Bajaj Allianz Life

ULIP plans have gained substantial popularity in India. ULIPs help you meet dual needs of insurance and investment. It guarantees the payment of a pre-decided amount to your nominees in the event of your death subject to the policy terms and conditions, while simultaneously growing your wealth and helps you achieve life goals. The ULIP policies offered by Bajaj Allianz are:

Bajaj Allianz Life Invest Protect Goal

A Unit-linked Non-Participating Individual Life Savings Insurance Plan

Bajaj Allianz Life LongLife goal

A Unit-Linked Non-Participating Whole Life Insurance Plan

Bajaj Allianz Life Goal Assure II

A Unit-linked Non-Participating Life Insurance Plan

Bajaj Allianz Future Gain II

Bajaj Allianz Life

Bajaj Allianz Future Gain II

A Unit-Linked Endowment Insurance Plan

Bajaj Allianz Fortune Gain

Bajaj Allianz Life

Bajaj Allianz Fortune Gain

A Unit-linked Non-participating Life Insurance Plan

A Unit-linked Non-Participating Individual Life Savings Insurance Plan

A Unit-linked Non-Participating Individual Life Savings Insurance Plan

A Non-Participating, Unit-Linked, Individual, Endowment Life Insurance Plan

Bajaj Allianz Life

Bajaj Allianz Future Gain II

A Unit-Linked Endowment Insurance Plan

A Unit-Linked Non-Participating Whole Life Insurance Plan

A Unit-linked Non-Participating Individual Life Savings Insurance Plan

Bajaj Allianz Life

Bajaj Allianz Fortune Gain

A Unit-linked Non-participating Life Insurance Plan

A new age ULIP with Return of life cover charges

A Guaranteed Maturity Unit-linked Insurance Plan

Online ULIP Calculator - Frequently Asked Questions

1. What is a ULIP calculator?

A ULIP calculator is an easy-to-use and free of cost online tool that is used to calculate ULIP premiums and get an idea of the wealth a ULIP plan will generate in the entire tenure. It has various variables like the tenure, the expected return on investment and the financial objective. 

2. How is ULIP calculator helpful for offline purchases?

ULIP plans can be bought both online as well as offline. Even though offline plans have to be bought through agents or physical branches, one can use the ULIP calculator to compare plans and get the future value of the investment. 

 

3. Is ULIP plan a good investment?

Unit Linked Insurance Plans (ULIPs) can offer investment opportunities coupled with insurance coverage. However, their returns depend on market performance and the chosen fund's performance. They can yield good returns over the long term due to market exposure but involve risks as they're linked to market fluctuations. Returns may vary based on the fund's performance, making it essential to assess your risk tolerance and investment goals before considering a ULIP as an investment option.

4. Are returns guaranteed under ULIPs?

The returns are not guaranteed under ULIPs. The accumulated corpus is invested in funds, which are a mix of debt and equity. Since ULIPs invest in market-linked instruments, the returns are not guaranteed, but investors can choose the funds as per their risk profile and investment expectations. 

5. How do I pay ULIP premiums?

ULIP premiums can be paid as a lump sum or in monthly, quarterly, half-yearly and annual instalments. Some ULIP plans have a limited premium payment tenure, while other payment tenures run for the entire duration of the policy.

6. How to buy a ULIP policy online?

You can visit the insurer’s website, check the available online ULIP plans, choose the suitable plan, and buy online. To buy, you would be required to fill up an online proposal form and pay the premium online through any of the digital payment modes.

7. Where & how is my money invested?

The premium that you pay towards the ULIP is invested in market-linked securities. ULIPs offer different types of market-linked investment funds. Depending on the funds that you select, the premium is invested.

8. At what age can I start a ULIP plan?

You can start a ULIP plan at any age, provided the age falls under the minimum and maximum age limits of the chosen policy. Some ULIPs may allow coverage from 3 months onwards. The maximum entry age, however, is limited to 65 or 70 years depending on the features of the plans and insurer. That said, it is better to start ULIP as early as possible so that you can opt for a long-term tenure and also save affordably to create a corpus for your financial goals.

9. What are the charges in the ULIP plan?

  • Premium allocation charge – deducted from the premium
  • Mortality charge – deducted from the fund value to provide life insurance cover
  • Fund management charge – deducted from the fund value to pay for the professional management of the chosen investment fund
  • Policy administration charge – deducted from the fund value towards the administrative charged incurred by the insurer
  •  Policy discontinuance charge – if you surrender the policy within the lock-in period of 5 years.
  • Switching charge – as and when applicable
  • Partial withdrawal charge – if applicable
  • Miscellaneous charge – for other applicable charges

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Disclaimers -

#Survey conducted by brand equity – Nielsen in March 2020

*T& C apply - The guaranteed benefits are dependent on the purchase price & annuity option chosen. For more details please refer to sales brochure.

1Product feature/benefit mentioned above are dependent on variant

2Above illustration is considering Male aged 25 years | Non-Smoker | Life Cover Variant | Policy term (PT)– 30 years | Premium Payment Term (PPT) – 30 years | Sum Assured opted is Rs. 1,00,00,000 | Online Channel | Medical rates | Annual Premium Payment Mode | Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws, and any extra premium and is for illustrative purpose only.

31% Discount is available for regular premium payment and limited premium payment frequency of Bajaj Allianz Life Smart Protection Goal - A Non Linked, Non Participating, Individual Life Insurance Term Plan

^Subject to eligibility and no adverse disclosure

^^As per variant opted. The variant chosen at inception cannot be changed during the policy term

~Tax benefits as per prevailing Income tax laws shall apply. Please check with your tax consultant for eligibility.

Best Seller refers to Bajaj Allianz Life Insurance plans which have been bought by large number of customers through the website since their launch.

**Past performance is not indicative of future performance.

##Our policy covers COVID 19 claims subject to policy terms and conditions being met.

%Conditions Apply – The Guaranteed benefits are dependent on policy term, premium payment term availed along with other variable factors. For more details please refer to sales brochure.