Bajaj Allianz is a joint venture between Allianz AG with over 110 years of experience in over 70 countries and Bajaj Auto, a trusted automobile manufacturer for over 55 years in the Indian market. Together they are committed to offering you financial solutions that provide all the security you need for your family and yourself. Bajaj Allianz is the number one private life insurer for the year 2005 – 2006. It is leading by 78 crores. It has experienced a whopping growth of 216% in the last financial year.
The company has sold 13, 00,000 policies and is backed by 550 offices across India. It offers travel insurance, motor insurance, home insurance, health and corporate
insurance. The mortality charges are lower than HDFC SLIC. The entry age could be zero years which allow even new born babies to be insured. (Source:
www.bajajallianz.com)
TATA AIG
Tata Aig is a joint venture between the Tata group and American International Group Inc. In one of the plans the company offers hospital cash benefit wherein it will pay Rs. 2500 per day in case of hospitalization and Rs.12.5 lakhs in case the person suffers from any critical illness.
Annual premium is much less (about Rs. 6712) to avail such a good benefit. Charges are relatively low compared to HDFC SLIC for some policies.
The company offers high coverage plans at low cost. There is a plan even for a policy term of 1 year. Your family can continue to enjoy their current lifestyle even in the case of something happening to you. These plans are very flexible and HDFC SLIC could adopt this idea of insuring individuals for short periods of time. For example; there is a family of four. The only earning member is the father.
He has just taken a loan from a bank of 20 lakhs to purchase a new home. He is able to repay the loan with his
current salary in 15 years. The problem arises if something were to happen to him within these fifteen years. Not only will the family face the emotional and financial loss of their father but they will also have to repay the home loan or risk being homeless. (Source: www.tataaig.com)
2.4 HDFC Policies
HDFC Children PlansAs a parent, your priority is your child's future and being able to meet your child's dreams and aspirations. Today, providing a good education, establishing a
professional career or even a modest wedding is expensive. Costs are increasing fast. Just imagine how much you'll need when your child takes these important steps in life!
The HDFC CHILDREN'S PLAN :
Gives valuable protection and invaluable financial support to the child.
Works on Beneficiary concept, where beneficiary is the sole person to receive the benefit under the policy.
Provides you multiple options for multiple benefits.
Plan Option
Today, providing a good education, establishing a professional career or even a modest wedding is expensive. Costs are
increasing fast. Just imagine how much you will need when your children take these important steps in life.
Plan today to ensure a bright future for your children. Start building savings today with our HDFC Unit Linked YoungStar Champion so that your child is able to lead a life of respect and dignity with a secured financial future.
Feature
The HDFC Unit Linked YoungStar Champion gives you
Valuable protection to your child in case you are not around An outstanding investment opportunity by providing a choice of thoroughly researched and selected investments
Bumper Addition to the fund value at maturity Flexible premium payment options
No need to go for medicals. Just filling the Short Medical Questionnaire will do
Benefit
The HDFC Unit Linked YoungStar Champion gives you
In case of unfortunate demise of the parent, HDFC Standard Life will:
Pay the Sum Assured you had chosen to your child.
Continue to pay 50% of the original regular premium towards the policy
HDFC Pension Plan
The HDFC Unit Linked Pension II is an insurance policy that is designed to provide a retirement income for life with the freedom to maximise your investment returns. Stride into your golden years of retirement with dignity and pride.
Features-The HDFC Unit Linked Pension II gives you
An outstanding investment opportunity by providing a choice of thoroughly researched and selected investments
Freedom from tracking the market with Asset Allocation Option Bumper Addition of 50% of original annualized premium at vesting and on death
Provides a post retirement income for life
Gives you the flexibility to plan your retirement date
You can choose your premium and the investment strategy. We will then invest your premium, net of premium allocation charges according to your chosen investment strategy. At the end of the policy term, you will receive the accumulated value of your funds, which will be used to provide your pension income.
The HDFC Unit Linked Pension II benefits you in the following ways:
Take 1/3rd of the fund value as tax-free cash lump sum and purchase annuity with the balance amount.
Purchase annuity from HDFC Standard Life or any other insurer