Bajaj Allianz Pension Plans – Get Bajaj Allianz Pension Guarantee, Retire Rich Plan Details

Bajaj Allianz Pension Plans

Bajaj Allianz Life Insurance Company Limited is one of India’s leading Life Insurance companies. Bajaj Allianz Life Insurance Company Ltd is a joint venture between Bajaj Finserv Ltd and Allianz SE. Both companies enjoy a reputation of expertise, stability, and strength. This Bajaj Allianz company incorporates global expertise with local experience. This Joint venture company is among the market leaders in insurance sector offering a huge range of products at competitive rates. Moreover, the company possesses of a firm foundation of sales force which helps to increase the business’s market share in the insurance sector. Bajaj Allianz Life Insurance Company Limited offers Bajaj Allianz Pension Plans.

Bajaj Allianz Pension Plans:

Bajaj Allianz Life Insurance Company offers two types of Bajaj Allianz Pension Plans, they are:

  • Bajaj Allianz Pension Guarantee.
  • Bajaj Allianz Retire Rich.

In these plans, one is a unit linked pension plan while the another one is a traditional plan with guaranteed benefits. Let us analyze the plans offered by the company in details.

Bajaj Allianz Pension Guarantee

Bajaj Allianz Pension Guarantee is a Non – Linked, Non -Par Immediate Annuity plan. Invest your savings in the Bajaj Allianz Pension Guarantee, a Scheme that gives you a guaranteed income so that you will live worry-free for a lifetime. With Bajaj Allianz Pension Guarantee, you can ensure a regular income after retirement. The Bajaj Allianz Pension Plans offers various features and benefits. The immediate annuity options available are:

Annuity Options:

  • Option A: Life Annuity.
  • Option B: Life Annuity with Return of Purchase Price.
  • Option C: Annuity Certain for the period five years, ten years, 15 years, 20 years and life after that.
  • Option D: Joint Life Last Survivor with 50% of annuity to spouse.
  • Option E: Joint Life Last Survivor with Return of Purchase Price on the death of Last Survivor (100% of annuity to spouse).
  • Option F: Joint Life Last Survivor with 100% of annuity to the spouse.

Plan Details:

Eligibility:

Minimum Age at Entry:  37 years.

  • For option B: The Annuitant’s Minimum age at entry is 0 year.
  • For option D, E & F: The annuitant and Spouse’s minimum age at entry is at least 37 years.

Maximum Age at Entry: 80 years.

  • For option D, E & F: The Annuitant and Spouse’s maximum age at entry were at most 80 years last birthday.
  • For option B: The annuitant’s maximum age at entry is 100 years (In case nominee/policyholder of policy under a pension plan of BALICwho wishes to take Bajaj Allianz Pension Guarantee plan).

Purchase Price Details:

  • Minimum Purchase Price: Rs. 25,000/-, In case nominee/policyholder of policy under a pension plan of BALIC, who wishes to take Bajaj Allianz Pension Guarantee plan, the minimum purchase price is not applicable.
  • Maximum Purchase Price: No Limit.

Minimum Annuity Instalment:

FrequencyYearlyHalf YearlyQuarterlyMonthly
Minimum Annuity Instalment1,0001,0001,0001,000

Click here to download Bajaj Allianz Pension Guarantee Brochure

Bajaj Allianz Retire Rich

Bajaj Allianz Retire Rich plan is a Unit-linked pension plan. A plan that enables you to retire with laughter lines… not worry lines. Taking charge of your retirement begins with Bajaj Allianz Retire Rich Plan that your retirement dreams are well met.

Plan Details:

Eligibility:

  • Minimum Entry Age: 30 years.
  • Maximum Entry Age: 73 years.
  • Minimum Age at Vesting: 37 years.
  • Maximum Age at Vesting: 80 years.

Policy Term:

  • Minimum: 7 years
  • Maximum: 30 years. Deferment periods available: 7 years to 30 years (both inclusive) only.

Premium Payment Term:

  • Minimum: 5 years.
  • Maximum: Up to the Policy Term chosen.

Key Features:

  • Guaranteed Vesting Benefit and Guaranteed Death Benefit.
  • Option to select regular, limited or single premium payment.
  • Option to change the premium payment term.
  • Flexibility to pay a top-up premium.

Benefits:

  • Death Benefit.
  • Vesting Benefits.
  • Loyalty Additions.
  • Surrender Benefit.

Click here to download Bajaj Allianz Retire Rich Plan Brochure