“Guaranteed Maturity Insurance Plan” (GMIP) was recently launched by Bajaj Allianz Life Insurance which would provide at least 200% of the amount invested and a secure life cover at maturity.

To make the product affordable for all income segments, GMIP is the lowest single premium ULIP at Rs. 5,000.
In GMIP, the single premium invested will be kept in denominations of Rs 5,000 each called as “Guaranteed Maturity Certificate” (GMCs).
The provision of GMCs facilitates liquidity and preserves guarantee. This is because partial withdrawals can be made only GMC units that is in multiples of Rs 5,000. Flexibility of partial withdrawal after 5 years, life cover throughout the 10 year term and eligibility for tax benefits are some of the other unique features of this plan.
Source-Medindia