Bajaj Allianz Pension Plans

What is Bajaj Allianz Pension Plan?

Bajaj Allianz Pension Plan is a retirement plan offered by Bajaj Allianz Life Insurance Company Limited. This plan is designed to help you build a corpus for your retirement years while ensuring financial stability and security post-retirement. 

These best investment plans allow you to make regular contributions towards your pension fund, which are then invested in various financial instruments to generate returns over time. Upon retirement, the accumulated corpus can be utilized to provide a regular income stream or can be withdrawn as a lump sum, depending on the chosen payout option. 

Bajaj Allianz Pension Plan typically offers features such as tax benefits, flexibility in contributions and payouts, and the option to choose between different investment strategies based on your risk appetite and financial goals.

Best Bajaj Allianz Pension Plans in India in 2024

Bajaj Allianz offers the following best pension plans in India to provide you with financial security for your retirement:

Details of Bajaj Allianz Pension Plans in India in 2024

1. Bajaj Allianz Life Saral Pension Plan

   The Bajaj Allianz Life Saral Pension Plan is a single premium, non-linked, non-participating, individual immediate annuity plan that provides regular income and returns the purchase price on death.

   Features of Bajaj Allianz Life Saral Pension Plan:

   • Guaranteed Lifelong Income: Enjoy the certainty of regular income for life, ensuring stability and security.

   • Flexible Payment Options: Customize your annuity payments according to your preferences, choosing monthly, quarterly, half-yearly, or annual intervals.

   • Legacy Protection: Safeguard your loved ones by ensuring the Purchase Price (ROP) is paid to the nominee in case of your demise.

   • Family-Centric Approach: Opt for a joint life option for a steady income stream for both you and your family, enhancing financial security.

   • Convenient Cash Access: Easily access your funds through loan facilities for added liquidity.

   • Additional Benefits: Gain immediate liquidity upon diagnosis of Critical Illness, offering extra peace of mind during difficult times.

2. Bajaj Allianz Life Guaranteed Pension Goal Plan

   The Bajaj Allianz Life Guaranteed Pension Goal Plan is a non-linked, non-participating investment annuity plan designed to provide you with a guaranteed income after retirement.

   Features of Bajaj Allianz Life Guaranteed Pension Goal Plan:

   • Guaranteed Lifelong Income: Your annuity amount remains fixed from the start and is paid out regularly based on your chosen frequency (Yearly/Half-yearly/Quarterly/Monthly).

   • Diverse Annuity Options: Select from various choices to match your lifestyle goals.

   • Flexible Start Date: Decide when your annuity payments commence, either immediately or after a specified period from policy inception.

   • Family Security: Ensure your family's financial stability with Joint Life Annuity options, providing continued support for your spouse after your passing.

   • Return of Purchase Price: Choose to receive the Return of Purchase Price (ROP) in case of death or as a Survival Benefit.

3. Bajaj Allianz Life LongLife Goal Plan

   The Bajaj Allianz Life LongLife Goal Plan is a whole life Unit Linked Insurance Plan (ULIP) offered by Bajaj Allianz Life Insurance. ULIPs are a type of investment plan that combines insurance coverage with market-linked investments.

   Features of Bajaj Allianz Life Life LongLife Goal Plan:

   • Retirement Planning: Opt for Retired Life Income to fulfill your retirement goals. This option provides a reliable stream of income during retirement years.

   • Retirement Income Guarantee: Secure Retired Life Income guaranteed until age 99 with Return Enhancer, ensuring peace of mind during your golden years.

   • Cost Management: Benefit from Periodical Return of Life Cover charges, easing the financial burden and ensuring affordability.

   • Policy Benefits: Receive Loyalty Additions every year from the 5th to the 25th Policy Year, enhancing the value of your policy over time.

   • Plan Variants: Choose from two plan variants: LongLife Goal without Waiver of Premium or LongLife Goal with Waiver of Premium, based on your preferences and needs.

   • Premium Flexibility: Avail of the option of Periodical Return of Waiver of Premium charges*, providing flexibility in managing premium payments.

   • Funds Selection: Access a diverse range of Fifteen (15) funds to invest in, allowing you to tailor your investment portfolio to your specific requirements.

   • Premium Reduction: Take advantage of the option to reduce premium costs, ensuring greater affordability and flexibility in managing your policy.

People also read: Bajaj Allianz NFO

Steps to Buy Bajaj Allianz Pension Plan at Policybazaar

• Visit the Website: Go to the Policybazaar website.

• Navigate to Pension Plans: Look for the section related to pension plans. This is usually found under the "Retirement Plans" or "Pension Plans" category.

• Search for Bajaj Allianz Plans: Browse through the available plans to find Bajaj Allianz Pension Plans.

• Compare Plans: Review and compare the different pension plans offered by Bajaj Allianz. Consider factors such as premium amount, coverage, benefits, and features.

• Use Calculator: Utilize the Pension Plan Calculator and NPS Calculator to compare your maturity benefits from the Bajaj Allianz Pension Plans and the government-offered National Pension Scheme (NPS).

• Select a Plan: Once you have decided on a plan that suits your needs, click on it to get more details.

• Enter Details: Fill in the required details, such as your age, income, and other personal information, as prompted.

• Customize Your Plan: Some plans offer customization options. Choose the desired coverage, premium payment frequency, and other relevant options.

• Calculate Premium: Policybazaar also provides a premium calculator. Use this tool to calculate the premium amount based on your input.

• Review Your Selection: Double-check all the details you have entered and ensure they are accurate.

• Proceed to Purchase: If everything looks good, proceed to the purchase section.

• Provide Additional Information: You may be asked to provide additional information or documents for verification purposes.

• Make Payment: Choose your preferred payment method and complete the payment process.

• Policy Issuance: After successful payment, you will receive a confirmation of your purchase. The policy documents will be sent to you via email or mail, depending on the insurer's procedure.

• Follow-Up: Keep track of your policy status and ensure that you receive all necessary documents and communications from Bajaj Allianz.

Summing It Up

Bajaj Allianz Pension Plans offer a comprehensive solution for securing a financially stable retirement. With flexible best investment options, attractive returns, and robust features, these plans empower you to plan for a secure future with confidence and peace of mind.