Planning for the future involves making informed decisions, especially regarding securing your financial goals. Bajaj Allianz Goal Assure and HDFC Click 2 Wealth are the two best investment plans in financial planning, each offering unique features designed to help you achieve your aspirations. A thorough comparison of these two leading investment plans delves into their features, benefits, and returns, aiding in the quest to make a well-informed choice for a secure financial future. Understanding the distinct advantages and tailored offerings of Bajaj Allianz Goal Assure and HDFC Click 2 Wealth plans illuminates the path toward realizing your financial dreams.
Bajaj Allianz Goal Assure II Plan
Bajaj Allianz Life Goal Assure II is a Unit-linked Non-Participating Individual Life Savings Insurance Plan that offer a comprehensive blend of life cover and wealth creation opportunities.
Key Features and Benefits of Bajaj Allianz Goal Assure
Bajaj Allianz Goal Assure is one of the best Bajaj Allianz investment plans. Here are the key features and Benefits of Bajaj Allianz Goal Assure Plan.
- Life Cover and Wealth Creation: The plan offers the dual benefit of providing life cover and wealth creation opportunities, allowing you to secure your family’s future while growing your investments.
- Multiple Investment Options: It provides a range of investment options to suit different risk appetites, including equity, debt, and balanced funds. This flexibility allows you to align your investments with your financial goals.
- Flexibility in Premium Payment: The plan offers the flexibility to choose the premium payment term according to your convenience and financial capacity, enabling you to manage your investments more effectively.
- Return of Mortality Charges: Bajaj Allianz Goal Assure offers the unique benefit of returning the mortality charges at the end of the policy term, enhancing the overall returns on the investment.
- Wealth Boosters: This plan provides additional wealth boosters that add to the fund value at key milestones during the policy term, enhancing the growth of your investment corpus.
- Tax Benefits: Bajaj Allianz Goal Assure offers tax benefits on the premiums paid and the maturity amount under prevailing tax laws in India.
- Enhanced Protection with Riders: Optional riders can be added to the plan for enhanced protection, covering areas such as critical illness, accidental death or disability, providing a more comprehensive coverage package.
- Partial Withdrawals: The plan allows for partial withdrawals, providing liquidity in times of financial need, while the remaining corpus continues to grow.
Eligibility Criteria for Bajaj Allianz Goal Assure
| Entry Age |
Minimum 0 Year to Maximum 60 Years |
| Maturity Age |
Maximum 75 Years |
| Premium Payment Frequency |
Yearly, Half-yearly, Quarterly and Monthly |
| Minimum Premium Installments |
- Yearly: 36000/-
- Half-yearly: 18000/-
- Quarterly: 9,000/-
- Monthly: 3,000/-
- Top-Up: 5000/-
|
| Policy Term Range |
5, 10, 15, 20 Years |
| Premium Payment Term |
5, 7, 10, 15, 20 Years |
| Minimum Sum Assured |
7 times Annualized Premium |
| Maximum Sum Assured |
X * Annualized Premium, where X is based on age at entry and Policy term |
| Riders |
- Bajaj Allianz Life Linked Accident Protection Rider
|
HDFC Click 2 Wealth Plan
HDFC Click 2 Wealth Plan is a Unit Linked Non-Participating Individual Life Insurance Plan that offers market linked returns and provides life protection for you and your family.
Key Features and Benefits of HDFC Click 2 Wealth Plan
The HDFC Click 2 Wealth Plan offers a range of features and benefits tailored for wealth creation and financial security:
- Variety of Investment Options: It provides a diverse array of investment funds, including equity, debt, and balanced funds, allowing you to customize your portfolio based on your risk appetite and financial goals.
- Flexibility in Premium Payment: The plan offers flexibility in premium payment terms, letting you choose the premium paying frequency as per your convenience, whether it's a Single Pay, Limited pay and Regular Pay
- Multiple Portfolio Strategies: It provides the option to select portfolio strategies based on financial objectives. Strategies range from self-managed to auto-rebalancing options, ensuring your investments align with your goals.
- Special Additions: The plan offers 1% of annualized premium as a special additions to your fund value of first 5 years.
- Partial Withdrawals: It allows for partial withdrawals after a specific period, offering liquidity for unforeseen expenses while the rest of the investment continues to grow.
- Tax Benefits: Like most insurance and investment plans, HDFC Click 2 Wealth Plan offers tax benefits on both the premiums paid and the maturity amount, subject to prevailing tax laws.
- Death Benefit: In case of the policyholder's demise, the plan provides a death benefit to the nominee, ensuring financial protection for the family.
Eligibility Criteria for HDFC Click 2 Wealth
| Plan Options |
- Invest Plus
- Premium Wavier Option
- Golden Year Benefit Option
|
| Entry Age |
Minimum 0 Year to Maximum 60 Years |
| Maturity Age |
- Invest Plus: 75 Years
- Premium Wavier Option: 75 Years
- Golden Year Benefit Option :Maximum 99 Years
|
| Premium Payment Frequency |
Yearly, Half-yearly, Quarterly and Monthly |
| Minimum Premium Installments |
- Single: 24000/-
- Yearly: 12000/-
- Half-yearly: 6000/-
- Quarterly: 3,000/-
- Monthly: 1,000/-
|
| Policy Term Range |
10 to 40 years |
| Premium Payment Term |
- For Invest Plus and Premium Wavier Options: Single Pay, Limited: 5, 7 and 10 years Regular: 10 to 40 years
- For Golden Year Benefit Options: Limited Pay: 10 to 70 minus Age at Entry
|
| Minimum Sum Assured |
- Single Pay: 1.25 x Single Premium
- Limited Pay, Regular Pay: 10 x Annualized Premium
- Top Up: 1.25 x Top-up Premium
|
| Maximum Sum Assured |
Maximum Sum Assured shall be as per Board Approved Underwriting Policy |
| Riders |
- Accidental Disability Rider
- Critical Illness Rider
|
Factors to Compare When Choosing Between Bajaj Allianz Goal Assure and HDFC Click 2 Wealth Plan
When choosing between Bajaj Allianz Goal Assure and HDFC Click 2 Wealth, it's crucial to consider several factors to make an informed decision that aligns with your financial goals and needs. Here are the key factors to consider:
- Features and Benefits
- Premium Amount
- Policy Term
- Riders and Additional Features
- Maturity Benefits
- Death Benefits
- Surrender Value and Loan Options
- Tax Benefits
- Customer Services
- Flexibility and Customization
- Financial Goals and Risk Tolerance
- Exclusions
- Terms & Conditions
How to Compare Bajaj Allianz Goal Assure Vs HDFC Click 2 Wealth Plan
Comparing Bajaj Allianz Goal Assure and HDFC Click 2 Wealth online is a convenient way to make an informed decision when choosing an investment plan. Here's a step-by-step guide on how to compare investment plans online:
- Visit the official website of the PolicyBachat.
- Click on the Investment Plan tab.
- Fill in the requested details such as name, mobile number, and email address.
- Enter your age and city.
- Select the plan which you want to buy. Click on the Proceed button.
- Use the online premium calculator to compare the premium amounts.
- Compare benefits, features, returns, and additional riders or bonuses.
- After comparing the products, select a plan which suits your requirements.
- Then pay for your policy by using an online payment method.
Frequently Asked Questions
What is the Primary Difference between Bajaj Allianz Goal Assure and HDFC Click 2 Wealth?
Bajaj Allianz Goal Assure focuses on providing life cover along with wealth creation, offering the return of mortality charges. HDFC Click 2 Wealth primarily focuses on wealth creation and offers multiple portfolio strategies for investment.
Do These Plans Offer Tax Benefits?
Yes, both Bajaj Allianz Goal Assure and HDFC Click 2 Wealth offer tax benefits on the premiums paid and the maturity amount, subject to prevailing tax laws.
How Can I Purchase Bajaj Allianz Goal Assure and HDFC Click 2 Wealth Plans Online?
You can purchase Bajaj Allianz Goal Assure and HDFC Click 2 Wealth through their official websites or the PolicyBachat website. It allows individuals to compare different types of investment plans from different insurers online in one place.
Which Plan Offers More Flexibility in Premium Payment?
Both Bajaj Allianz Goal Assure and HDFC Click 2 Wealth Plans allows you to choose the premium payment term based on your convenience.
How Do I Decide Which ULIP Is More Cost-Effective?
You should compare the charges associated with each plan, including premium allocation charges, fund management charges, and policy administration charges. Lower charges generally lead to higher returns over the long term.
Which Plan is Better When Looking for More Investment Choices?
Both plans offer a variety of investment fund options, but the specific funds and their performance can differ. It's essential to compare the fund options and their historical performance to determine which aligns better with your investment objectives.
Conclusion
The decision between Bajaj Allianz Goal Assure, HDFC Click 2 Wealth plans depends on individual financial aspirations and preferences. Bajaj Allianz Goal Assure caters to those who prioritize a balance between life cover and investment growth, while HDFC Click 2 Wealth is ideal for those focused on a diverse investment portfolio to maximize wealth creation.
Both plans offer flexibility, tax benefits, and opportunities for growth, allowing individuals to tailor their investment strategies according to their risk appetite and long-term financial goals. Choosing between these plans relies on aligning their features with one’s unique financial aspirations and risk tolerance.