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Fund Switching - A ULIP Benefit

What is Fund Switching?

A ULIP Benefit - What is Fund Switching?

What is Fund Switching and How Do I Switch My Funds?


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September 24, 2010

By : Bajaj Allianz Life

What is Fund Switching?

Fund Switching

When you buy a ULIP plan, you also select the funds that you want to invest in.

Based on your preference, you also select a percentage that you want to invest in each fund. This is called Fund Apportionment. During the policy period, you may want to change these investment amounts based on how the markets are performing. This activity is called Fund Switching.

Please see bottom of this article for information on Bajaj Allianz funds and their description.

Can you explain this with an example?

switchingfund

Sure, Let’s take the example of Mr. Rajesh who has a bought a policy for Rs. 50,000.

Watch a short presentation on how to login to the Customer Portal and switch your funds. Please note that you need Flash Player to view this animation.

Does the new apportionment carry forward into the next year when I pay my renewal premium?

No! Please remember that when you make a fund switch the apportionment and the allocation applies to the current year only and does not get automatically rolled-over to the next year. In the above example, when Mr. Rajesh pays his renewal premium next year, the fund apportionment/allocation will be the same as his original apportionment that he had requested at the time of purchase (ie. Debt Fund 20%, Equity Index Fund 50%, Equity Plus Fund 30%).

How do I make the Fund Switching settings permanent?

Funds

  • Debt Fund 20 %
  • Equity Index fund 80 %
  • Equity Plus fund 0%

  • The Bajaj Allianz funds:

    Fund Name

    Description

    Equity Growth Fund II

    Provides capital appreciation through investment in selected equity stocks that have the potential for capital appreciation.

    Accelerator Mid-Cap Fund II

    Achieves capital appreciation by investing in a diversified basket of mid cap stocks and large cap stocks. Minimum 50% of Equity Investments would be in Mid Cap stocks

    Pure Stock Fund

    Specifically excludes companies dealing in Gambling, Contests, Liquor, Entertainment (Films, TV etc.), Hotels, Banks and Financial Institutions.

    Asset Allocation Fund

    Realizes a level of total income, including current income and capital appreciation, which is consistent with a reasonable investment risk. The investment strategy involves a flexible policy for allocating assets among equities, bonds and cash. The fund strategy is to adjust the mix between these asset classes to capitalize on the changing financial markets and economic conditions. The fund adjusts its weights in equity, debt and cash depending on the relative attractiveness of each asset class.

    Hope you found the information presented in this article useful. Please leave your questions in the comments section below. Thanks!

    Know more about fund switching and other ULIP benefits on Bajaj Allianz Life.

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    Bajaj Allianz Life Insurance Company Ltd.

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    Tel No: 020-66026773

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

    The above information is for general understanding and is meant to educate the general public at large. The reader will have to verify the facts, law and content with the prevailing tax statutes and seek appropriate professional advice before acting on the basis of the above information.