Claim Settlement Ratio of 99.02%~

Notifications11

  • World's First Music Video Created Retired Senior Citizens

    WATCH VIDEO
  • Apne life goals ki guaranteed1 hona Ye Bhi Sahi Hai

    WATCH VIDEO
  • Fulfill your Life Goals with Bajaj Allianz Life Goal Assure

    KNOW MORE
  • Here's a Comprehensive Tool To Plan Your Child's Future

    START NOW
  • There is lot to remember in Life, Set renewal premium payments to Auto Pay

    WATCH VIDEO
  • Get Life Cover worth Rs.1 Crore at Rs.20 per day2 – Bajaj Allianz Life Smart Protect Goal

    CALCULATE NOW
  • Get your Life Goals Done with Bajaj Allianz Life Smart Assist – BINA MILEY MIL-KAR

    KNOW MORE
  • Paying your Renewal Premium is Quick and Easy!

    PAY NOW
  • Know the right amount of Insurance you need in just a few steps!

    START NOW
  • Avail Term Insurance Tax Benefits under Section 80D

    READ MORE
  • Know how to invest money during the covid-19 pandemic!

    READ MORE

Thanks for sharing your details, A Sales representative from
Bajaj Allianz Life will contact you shortly.

Dear Customer, we request you to connect with us in our next business working hours, (Monday to Saturday 24*6) Thank you, Have a great day ahead

X

Terms & Conditions

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

 

Please refer to BALIC Privacy Policy

In this policy, the investment risk in investment portfolio is borne by the policy holder.

Strong Long Term Fund Performance Track Record**

One Of The Most Trusted Brands#

What is the Additional Premium on ULIP | Bajaj Allianz Life

Tax Benefits~ On Online ULIP Plans

Please enter a Name
Please enter a Mobile No.
Please check the box to proceed
WS_LIGuideHome_Banner_EN 307 38983691 WS_LIGuideHome_Banner_HI 307 38983695
WS_LIGuideHome_Banner_Mob_EN 307 38983693 WS_LIGuideHome_Banner_Mob_HI 307 38983677
Please Select Language

**, #, T&C Apply | BJAZ-WB-EC-02755/21

**, #, T&C Apply | BJAZ-WB-EC-02755/21

What is the Additional Premium on ULIP?


calender-blue

Sep 09, 2022

By : Bajaj Allianz Life

While wealth creation is something that you should investigate, protecting your family from life’s uncertainties are also equally important. Contrary to popular opinion, you don’t have to invest in multiple investment options to satisfy both goals, fortunately.

Instead, you can ensure that you both create wealth and keep your family financially well protected by simply investing in a ULIP. A ULIP is a highly flexible insurance cum investment option that gives you benefits such as the ability to enhance your wealth creation ability at a later point in time through the payment of additional premiums.

Want to know more about how you can enhance the potential of a ULIP through additional premiums? Here’s everything you need to know.

 

What is a ULIP?

 

However, before we get to the main part of the article, let’s pay a quick visit to the concept of a ULIP. Also known as a Unit-Linked Insurance Plan, a ULIP is an insurance cum investment plan that provides both the benefits of insurance and investment.

You, as a policyholder, would be required to make regular payments, known as premiums, to an insurance provider. The insurer, in turn, would provide you with a life cover and invest the premium that you pay in funds of your choice.

On the expiry of the tenure of the Unit-Linked Insurance Plan, you can withdraw the funds that you’ve invested in, along with the returns that may have generated. On the other hand, if something were to happen to you during the tenure of the ULIP, the insurer would pay a predetermined sum of money to your nominee as compensation.

 

What is the Additional Premium on ULIPs?

 

Now, at the time of purchase of a Unit-Linked Insurance Plan, you can choose the amount of premium that you wish to invest in funds of your choice. However, once you’ve chosen the premium, you would have to continue paying it regularly on time till the end of the premium payment term.

But what if you receive some windfall gains, bonuses, or simply have an excess of funds lying around? Can you invest them in a ULIP? Fortunately, it is possible. By utilizing the additional ULIP premium payment option, also known as the top-up facility, of a Unit-Linked Insurance Plan, you can make single lump sum top-up payments,

This additional ULIP premium that you pay will be invested in the market-linked funds of your choice along with your regular premium payments. That said, you should know that it will not, however, increase your life cover or the tenure of the plan because that entire amount is purely invested in the funds and no portion from that amount goes as a premium for life cover.

The additional premium payment facility offers plenty of benefits to the policyholder of a Unit-Linked Insurance Plan. Here’s a quick look at a few of them.

  • It allows you to put unused funds to good use by investing them in the funds of your choice.
  • It allows you to enhance the fund value, thereby increasing the chances of market linked wealth creation.
  • Some ULIPs allow policyholders to invest the top-up premium in a different fund of their choice.

 

Conclusion

 

As you can clearly see, the ability to make additional premium payments is an advantage of a ULIP. This facility allows you to grow your returns without having to purchase another separate Unit-Linked Insurance Plan. That said, the terms and conditions tend to vary from one ULIP to another. Therefore, it is advisable to read through the policy terms and conditions carefully before making any additional premium investments.

BJAZ-WEB-EC-01163/22

Bajaj Allianz Life Videos

Play

Bajaj Allianz Life | Children's Day

Contact Us

Bajaj Allianz Life Insurance Company Ltd.

Bajaj Allianz House, Airport Road, Yerawada, Pune - 411 006, Maharashtra

Tel No: 020-66026773

Fax No: 020-66026789

Branch Visit Timings:

Monday to Friday - 9:00 AM to 3:30 PM

Saturday - 9:00 AM to 1:00 PM

Customer Care Helpline:

1800-209-7272

Monday to Sunday: 9:00 AM to 7:00 PM (IST)

NRI Services Helpline

24/7 (All week days)

Sales Enquiry Helpline:

1800-209-4040

Monday to Saturday: 9:00 AM to 7:00 PM (IST)

For NRI: +91-20-35125850 (Call charges apply)

Monday to Saturday: 9:00 AM to 7:00 PM (IST)

Find Us Online

#Survey conducted by brand equity – Nielsen in March 2020

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

**Past performance is not indicative of future performance.

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.

In this policy, the investment risk in investment portfolio is borne by the policyholder. Investment in ULIPs is subject to risks associated with the capital markets. The policy holder is solely responsible for his/her decisions while investing in ULIPs. The views stated in this article is not to be construed as investment advice and readers are suggested to seek independent financial advice before making any investment decisions. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on www.bajajallianzlife.com) carefully before concluding a sale.