Single-premium unit-linked insurance products are accepted among investors due to the convenience and less fears. However, the new Ulip period has seen very few such products.
The Wealth Insurance Plan from Bajaj Allianz Insurance Company is one among the few new products. This is a single-premium whole life unit-linked insurance policy. It is a vanilla product, with the maturity age fixed at 75 years.
The insurance plan offers an inclusive basket of investment options (funds), with varied proportion of equity and debt, for one to choose from as per the risk and return appetite. For instance, the equity growth, pure stock and accelerator mid-cap options are equity-based, whereas liquid and bond funds are debt-based.
Those looking for a balanced portfolio can opt for the asset allocation fund. This plan also offers an index fund option for those who want returns that mirror the stock market.
Life insurance does not have to be confusing if you know what life insurance coverage you need.
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