Bajaj Allianz Life Insurance has announced the launch of a unit-linked plan that offers a minimum guarantee of 170% at development. This Ulip with guaranteed returns will be offered for customers from January 11. This is a single-premium life insurance policy, known as Shield Plus, and the term is fixed at 10 years and the minimum premium requirement is Rs 25,000.
The returns, which work to around 5.45% on this product, could be compared to that of a bank or a post office deposit. But since the product has a justice experience, there is a strong opportunity of out performance over the long term, say experts.
The sum assured could be equivalent to 1.1 times or five times of the single premium paid, which takes care of the safety element of the ULIP. However, the insurer has capped the maximum sum assured at 1.1 times the single premium for persons in the age group of 56-65 years.
The product offers a choice of six funds but only Shield plus Fund offers minimum guaranteed unit price at maturity.
Thursday, January 28, 2010
Friday, January 8, 2010
ING Life India launches New Plans
ING Life India, part of ING Group, has announced the launch of five new customer centric unit linked insurance products including savings for Retirement Plan and Children Plan education and investments.
The new products are ING New Creating Star, ING New Prime Life, ING Freedom Plan, ING Future Perfect and ING New Golden Life helping customers to maximise their returns. The company also launched two new funds.
Ashwin B, chief operating officer, ING Life India, told media persons here that in addition to the funds, two pre-defined investment strategies for customers were also announced, ING Prudent and ING Enhancer.
The company has completely revamped its ULIPs portfolio for enhanced customer benefits.
He pointed out that the ULIPs will find it helpful as the yield will go up due to reduced charges on the products and important loyalty additions to their funds upto 275 percent. The products offer the suppleness to customers to surrender, if they require funds in an emergency, without paying any submit charges after five years.
The new products are ING New Creating Star, ING New Prime Life, ING Freedom Plan, ING Future Perfect and ING New Golden Life helping customers to maximise their returns. The company also launched two new funds.
Ashwin B, chief operating officer, ING Life India, told media persons here that in addition to the funds, two pre-defined investment strategies for customers were also announced, ING Prudent and ING Enhancer.
The company has completely revamped its ULIPs portfolio for enhanced customer benefits.
He pointed out that the ULIPs will find it helpful as the yield will go up due to reduced charges on the products and important loyalty additions to their funds upto 275 percent. The products offer the suppleness to customers to surrender, if they require funds in an emergency, without paying any submit charges after five years.
Max New York Life launches Four ULIP Plans
Private life insurer Max New York Life Insurance on Monday said it has updated its Unit Linked Insurance Plans (ULIP) portfolio by launching four products
.
The new products are Max New York Life Fortune Builder, Max New York Life Unit Builder Plus, Smart Invest Pension Super and Smart Express. All the four products are in fulfillment with the IRDA's regulation of capping of charge, the company said in a statement.
According to the standard all unit-linked products will have a standard charge organization not exceeding three per cent for ULIPs up to 10-year term and 2.25 per cent for ULIPs over 10-year term.
"In our new ULIP Plans, we have paid importance on the protection element and also introduced guaranteed reliability bonuses which clearly indicates on Life Insurance being viewed as a long-term protection product," Max New York Life Corporate Vice-President and head product management Manik Nangia said.
The elimination of humanity and morbidity charges from the cap has ensured that there will be no compromise on life cover, he said.
Max New York Life is a joint venture between Max India and New York Life, a Fortune 100 company.
.
The new products are Max New York Life Fortune Builder, Max New York Life Unit Builder Plus, Smart Invest Pension Super and Smart Express. All the four products are in fulfillment with the IRDA's regulation of capping of charge, the company said in a statement.
According to the standard all unit-linked products will have a standard charge organization not exceeding three per cent for ULIPs up to 10-year term and 2.25 per cent for ULIPs over 10-year term.
"In our new ULIP Plans, we have paid importance on the protection element and also introduced guaranteed reliability bonuses which clearly indicates on Life Insurance being viewed as a long-term protection product," Max New York Life Corporate Vice-President and head product management Manik Nangia said.
The elimination of humanity and morbidity charges from the cap has ensured that there will be no compromise on life cover, he said.
Max New York Life is a joint venture between Max India and New York Life, a Fortune 100 company.
Monday, January 4, 2010
Aviva Life launches Nine ULIPs Plan
Complying with the recent changes in the overall charges of unit-linked insurance plans Aviva Life Insurance today launched nine new unit-linked plans. The new variety of products includes child, pension and savings products with 14 new fund options cover savings, retirement, and protection and investment needs of all customers.
The company also introduced thematic funds - transportation fund and PSU fund across select products.
As per the new norms arranged by the regulator, all unit-linked products have a standard charge structure not exceeding 3 per cent for Ulips up to 10 year term and 2.25 per cent for Ulips over 10 year term. Within this, the fund management charges will be between 1 per cent - 1.35 per cent.
TR Ramachandran, CEO and MD, Aviva India said: “The new products are another positive step towards creation Ulips even more transparent and favorable for customers. With a cap on overall charges, the customers stand to benefit in the form of higher returns on their investment.”
The Infrastructure and PSU funds plan to provide capital appreciation by investing in equity or equity related instruments. For infrastructure funds the investments in equity will be in the range of 60 per cent – 100 per cent and in debt securities and money market in the range of 0 per cent – 40 per cent.
The fund will focus on large cap and mid-cap companies unavailable either directly or indirectly in the infrastructure growth of the Indian economy. The sectors would include construction, metals, building materials, energy, power, chemicals, and engineering among others. The PSU fund will invest in companies where the central and state governments have a majority shareholding of more than 50% or the management control is vested with the central or state government.
Aviva manages assets under management of Rs 6,170 crore.
For More information about Insurance Policy.
Aviva Life Insurance
The company also introduced thematic funds - transportation fund and PSU fund across select products.
As per the new norms arranged by the regulator, all unit-linked products have a standard charge structure not exceeding 3 per cent for Ulips up to 10 year term and 2.25 per cent for Ulips over 10 year term. Within this, the fund management charges will be between 1 per cent - 1.35 per cent.
TR Ramachandran, CEO and MD, Aviva India said: “The new products are another positive step towards creation Ulips even more transparent and favorable for customers. With a cap on overall charges, the customers stand to benefit in the form of higher returns on their investment.”
The Infrastructure and PSU funds plan to provide capital appreciation by investing in equity or equity related instruments. For infrastructure funds the investments in equity will be in the range of 60 per cent – 100 per cent and in debt securities and money market in the range of 0 per cent – 40 per cent.
The fund will focus on large cap and mid-cap companies unavailable either directly or indirectly in the infrastructure growth of the Indian economy. The sectors would include construction, metals, building materials, energy, power, chemicals, and engineering among others. The PSU fund will invest in companies where the central and state governments have a majority shareholding of more than 50% or the management control is vested with the central or state government.
Aviva manages assets under management of Rs 6,170 crore.
For More information about Insurance Policy.
Aviva Life Insurance
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