scorecardresearchBajaj Allianz Life launches the Bajaj Allianz Life ACE savings plan. Details

Bajaj Allianz Life launches the Bajaj Allianz Life ACE savings plan. Details here

Updated: 01 Sep 2023, 03:06 PM IST

Bajaj Allianz Life Insurance launches an innovative sayings cum investment plan with a first-of-its-kind feature that helps customise cash flow as per life goals.

Bajaj Allianz Life launches the Bajaj Allianz Life ACE savings plan

Bajaj Allianz Life launches the Bajaj Allianz Life ACE savings plan

Bajaj Allianz Life Insurance, one of the leading private life insurers, launched the ace of savings plans on September 01, 2023. Bajaj Allianz Life ACE, a non-linked, participating, early-income life insurance plan, offers enhanced flexibility to customers to tailor-make the cash flows as per their unique financial requirements.

Participating or saving life insurance plans are popular amongst customers as they offer three key features - safety, liquidity, and returns. Bajaj Allianz Life’s existing savings plans not only come with these features but are backed by consistently high returns and bonuses declared by the Company, regularly. With its latest savings plan, Bajaj Allianz Life ACE has further strengthened the advantages offered by its savings plans.

This plan is suitable for all those customers who are keen to create and control their income flow to plan for multiple life goals. Through this product, customers can now choose either a higher income to create an additional source of income, or a higher lumpsum to create a legacy or enjoy the balance of both regular income and lumpsum.

All this is in addition to the life cover the product offers. Never have participating or savings life insurance plans offered customers this kind of flexibility and given them the power of choice to design their income flow as per their needs.

Speaking at the launch, Tarun Chugh, MD & CEO, Bajaj Allianz Life said,“To make traditional savings products more beneficial for customers, I’m happy to introduce, for the first time ever, the component of enhanced flexibility in a participating plan. This feature will provide the customers with the power of choice. Depending on their financial goal customers can choose the level of income, when and for how long they want the income, and how they want their cash flow. This wasn’t possible earlier. This flexibility backed by our consistent past performance gives me the confidence that our new savings plan will have a strong place in our customers’ financial portfolio.”

Key features of Bajaj Allianz Life ACE plan

The newly launched plan comes with a set of unmatched features, thus, underlining the chances of considering it as a savings cum investment option. These include:

Flexibility: Bajaj Allianz Life ACE offers flexibility with its key feature of dynamic income options. Here, customers can choose the desired income, income start year, income period, adjust maturity benefits as per their goals, and much more at the start of the policy! This feature ensures that in addition to receiving a life cover, customers can fulfill their diverse financial requirements through just this one plan.

Deferred income option: Another unique aspect of this plan is the early or deferred income option, which enables customers to receive income right from the start of the policy or defer the start of their income for up to five years. This can be from the end of the first month of paying the premium or deferring it to a specific period to suit their financial needs. The product also allows customers to choose their income tenure, starting with a minimum of 10 years up to the age of 100 years.

Goal protection benefits: The plan also provides the Goal Protection Benefit as an option that ensures the policyholder’s family continues to get income through the policy term, even if the policyholder was to pass away during the policy term.

Benefit of added income: The plan comes with additional income benefits. So now they will not only enjoy the safety, liquidity, returns, and flexibility of savings products but also get additional income as they plan for their many life goals.

Why choose the Bajaj Allianz Life ACE plan?

Amidst all savings cum investment plans, this plan by Bajaj Allianz Life Insurance stands out for its unique benefits, some of which include:

  • Dynamic adjustment of income and maturity benefit at policy start
  • Flexibility in choosing the term and amount of both premium payment and income
  • Apart from the life cover, this plan offers life-long income up to the age of 100 years
  • Option to receive income as early as the first month of the policy
  • Choice to defer income for a certain period ranging from one to five years
  • Option of goal protection benefit ensuring financial protection to the nominee in case of the policyholder’s demise through death benefit, waiver on premium along with continued income and maturity benefits.
  • Added income benefit for women policyholders.


Term life insurance is often ignored by India’s employers.
First Published: 01 Sep 2023, 03:06 PM IST