Monday, June 23, 2008

Bajaj Allianz New Family Gain Equity Index Fund II (ULIP plan)

Recently my friend told me about an excellent plan he has taken from Bajaj Allianz. He says it gives insurance as well as investment benefits and he was very excited about it.
He showed me the policy booklet along with all the rules and regulations.

Following are the exact details of that plan.
Premium to be paid per annum : Rs 12000.00
Sum Assured : 4,08,000 (15 years) (His age is 31 yrs)
Allocation : 30% (97% from 2nd year onwards)
Net investments : Rs. 3600.00
Unit Price : 15.227 (as on 4/4/2008)
Number of Units : 236.4221

Mortality charges : -59.50 = -3.9075 units
Service tax charges : -10.37 = -0.6810 units
Rider Premium Charges: -24.48 = -1.6077 units
Policy Admin Charges : -50.00 = -3.2836 units
Total : 226.9423 ( 226.9423 * 15.227 = Rs. 3455.6504)
(Fund management charges is 1.25% per annum for equity fund)

Now you can decide for yourself how good is this policy when your first years premium of Rs. 12,000 is converted to an actual investments is just of Rs 3455.65
Rest of the money which is (12000 - 3455.65 = Rs8544.34) is expenses.

Even at the rate of 12% this will take approx more then 11 years to even reach original amount Rs. 12000.

TIPS: If you have already taken this policy then you can continue with it because the worst is over in the first premium itself. For people who are still looking at such policy you can go for a Term Cover for insurance and do an SIP into a good Large cap Mutual Fund. If you are less averse to risk then you can opt for a Balance fund.


sarika said...

If I Purchase this ULIP Plan of Bajaj Allianz from RMP Infotec Pvt.Ltd. what are the benefits which i will get?

Anonymous said...

hi sarika,
u might be having some misunderstanding with the product knowledge. lemme clear tour doubts. its 45% not 30%. and after 3 years.. u'll be getting 5.1% bonus from the company till 13th year. which will be equal to 51%. that is whatever the amount company is taking, will be getting u in future. that means your 45% will become 96%. it's better to have full knowledge of the product, because knowledge is worth nothing. whoever has explained might not have explained you clearly.
lemme clear you one more thing, am not working for this company, am a customer, and have taken this policy.. and really happy with the returns.
if you need anymore information you can mail me on

Anonymous said...

hi, i have taken bajaj allianze new familygain policy its 20years policy with 10k/yr premium with sum assured 100k but from other person i red comments that he is paying 15k/yr and sum assured is 400k for 15yrs.
please clarify policy in detail with returns after maturity.

Best regards,
mahesh more-dubai

Anonymous said...

hi, i have taken bajaj allianze new familygain policy its 15years policy with 12k/yr premium with sum assured 4,08,000 (15 years) (my age is 38 yrs)
please someone explain me the benifits of this policy. and what are the negative things in this policy?

Anonymous said...


Suma said...

i have taken bajaj allianze new familygain policy. kindly confirm whether service tax as per Govt. notification dated 10th May 2008 will be applicable for this policy or not.

harishankar said...

i have taken bajaj alliang policy new family gain plan ,but we d'nt know that what is the grothing

from hajipur

ramesh said...

i have taken bajaj alliang policy new family gain plan ,but we d'nt know that what is the grothing

Anonymous said...

Sir i have purchsed the najaj allianze new family gain policy in yr 2008 jan. ,of 10,000 /- yrly premium .now its value is 860/- so i just want to know wheather i should invest in the same for this yr or what as there is 3 yrs bonding only afterthat i can withdraw as total policy is for ten yr

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