Feb 02, 2009 02:22 PM
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Bajaj Allianz iGain is the first unit linked insurance plan - ULIP which can only be bought online. The main benefit of buying iGain is that unlike other ULIPs, iGain does not have an intermediary – you are thesole beneficiary. Hence there are no deductions as distribution feefrom your premiums. This feature allows for a higher allocation ofmoney to various funds, giving your money that additional boost.
Additionally, from the 11th year onwards, iGain increases the allocation of units by2% to enhance your investments. So while you pay a 100% premium, 102%of it is invested.
As far as assisting the investor is concerned, iGain offers the Wheel Of Life Portfolio Strategy where investment officers will select and invest in the appropriate fund.
iGain provides the option of withdrawing money from the 4th year onwards, but sizable returns are seen when the investment continues beyond three years.Apart from greater allocation of funds, IGain has good tax saving features as per Section 80C and Section 10(10)D of the Income Tax Act.
Overall iGain is a good investment tool and considering that Bajaj allianz is the biggest private player in the insurance sector, your investment is pretty safe. If you thinking of buying the iGain insurance product, visit their site at https://buyigain.com/igain/igain/index.jsp
