Leading private sector insurer Bajaj Allianz Life Insurance introduced 11 unit-linked plans. These unit-linked investment plans (ULIPs) have been re-introduced with better features like loyalty addition, allocation charges, etc, which are in fulfillment with the requirements approved by the Insurance Regulatory and Development Authority (IRDA), said Bajaj Allianz Life Insurance chief executive Kamesh Goyal.. "We took the new ULIP guideline as an opportunity to restore all these ULIP products. He said the restore envisaged several added features to make the product more attractive for our customers,” The products are in line with the recent IRDA guidelines on cap on charges. All unit-linked products will have a standard charge structure not exceeding three per cent for ULIPs up to 10 year term and 2.25(%) per cent for ULIPs over 10 year term. In addition, he said, the company launched two new original single premium ULIP products namely Bajaj Allianz Shield Plus with a minimum guarantee of 170(%) per cent and Bajaj Allianz Wealth Gain with a high allocation up to 105(%) per cent allocation and choice of seven funds. The products that were launched with several new features are available from January 1.
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