Bajaj Allianz Pension Guarantee Plan

Bajaj Allianz Pension Guarantee Plan is a Traditional Immediate Pension Plan from Bajaj Allianz Life Insurance Company. Under this plan a guaranteed income is given to the nominee and spouse(optional). With Bajaj Allianz Pension Guarantee, you can ensure a regular income after retirement. The plan offers you a range of immediate annuities to choose from.

Key Features

  • Life annuity
  • Life annuity with Return of Purchase Price
  • Annuity certain for periods of 5 years , 10years ,15 years,20 years and life thereafter
  • Joint Life Last Survivor with 50% of annuity to spouse
  • Joint Life Last Survivor with Return of Purchase Price on death of Last Survivor (100% of annuity to spouse)
  • Joint Life Last Survivor with 100% of annuity to spouse

Benefits

  • Death Benefit
  • Life Annuity - Annuity is payable as long as Life Insured is alive and no Death Benefit is paid thereafter
  • Return of Capital - Annuity is payable as long as Life Insured is alive and then the remaining of the capital, if any, would be returned to the nominee on the death of the Life Insured
    •
    • Maturity Benefit
    Being a Pension Plan, there is no Maturity Benefit.
    • Income Tax Benefit
    Premiums paid under life insurance policy are exempted from tax under Section 80 C and 1/3rd of the Maturity Proceeds are exempted from tax under Section 10 (10A).

    Am I eligible?

    PARAMETER MINIMUM MAXIMUM
    ENTRY AGE 37 80
    PREMIUM PAYING TERM 5 15

    What if?

    • I stop paying premium ?

    Being a Single Premium Plan, there is no question of future premium payment.
    • I want to surrender the policy

    There is a Surrender Value after 3 policy years.
    • I want a loan against your policy

    Loan facility is available under this policy after 3 policy years upto 90% of the Surrender Value under the Plan.