• Get Life Cover worth Rs.1 Crore at Rs.17 per day2 – Bajaj Allianz Life Smart Protection Goal

  • Apne life goals ki guaranteed1 hona Ye Bhi Sahi Hai

  • Fulfill your Life Goals with Bajaj Allianz Life Goal Assure

  • Here's a Comprehensive Tool To Plan Your Child's Future

  • There is lot to remember in Life, Set renewal premium payments to Auto Pay

  • Get your Life Goals Done with Bajaj Allianz Life Smart Assist – BINA MILEY MIL-KAR

  • Paying your Renewal Premium is Quick and Easy!

  • Know the right amount of Insurance you need in just a few steps!

  • Avail Term Insurance Tax Benefits under Section 80D

  • Know how to invest money during the covid-19 pandemic!


Thanks for showing your interest. A representative from
Bajaj Allianz Life will contact you shortly.

Dear Customer, we request you to connect with us in our next business working hours, (Monday to Saturday 24*6) Thank you, Have a great day ahead


I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) or on National Do Not Call Registry (NDNC), any call made, SMS or WhatsApp sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business


Please refer to BALIC Privacy Policy

banne-img banne-img

Guaranteed* Income throughout life




* T&C apply | BJAZ-WB-EC-05007/23


*Conditions Apply – The guaranteed benefits are dependent on the purchase price & annuity option chosen. For more details please refer to sales brochure.

Bajaj Allianz Life Guaranteed Pension Goal -A Non-Linked, Non- Participating, Deferred & Immediate Annuity plan (UIN: 116N167V10)

Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116


*Conditions Apply – The guaranteed benefits are dependent on the purchase price & annuity option chosen. For more details please refer to sales brochure.

Bajaj Allianz Life Guaranteed Pension Goal -A Non-Linked, Non- Participating, Deferred & Immediate Annuity plan (UIN: 116N167V10)

Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116

What to Do When You Are Not Financially Prepared for Retirement?

When it comes to personal finances, your ability to take care of yourself in any stage of your life should be more than possible. This means that you should be able to fund yourself during your period of work life, and after that, during your retirement. In turn, retirement planning is one of the most important things to consider during your active salaried years. However, despite good intentions, you can find yourself totally unprepared for what’s in store in the future. For the majority of Indians, literacy of the financial variety has been nothing short of elusive. Some individuals only wake up to the shock of a lack of finances when they are on the brink of retirement, or worse still, in the throes of it.

The retirement plan for many Indians remains the dependency on their children for financial support. In August 2017, the Reserve Bank of India revealed that the population of Indians aged 65 is expected to grow quickly (75%) among all age groups by 2031, and ironically, only 23% moving towards this age group were planning to save for retirement in 20161 It can be nothing short of painful if you find yourself financially weak during retirement. Case studies will explain this fact.


Case Study # 1


Manav Roy retired a few years ago. He had worked at a PSU all his life, and being an engineer, was quite successful. He remained complacent about his retirement as he believed that being a government employee, he would be entitled to sufficient benefits to hold him in good stead during retirement. Thus, he thought the pension benefits he was due to get being a government employee, would more than take care of his financials after he stopped working. However, when he actually did retire, Roy was in for a rude shock. Roy realised that his financial condition could have been better if only he had solidly invested while he was younger. Nonetheless, as always, “later is better than never” and Roy considered serious investments.

Roy got a lump sum when he retired, and he put a lot of it into investments that would give him a steady return, like bonds. But he also talked to a good financial advisor about planning for retirement, and the advisor told him to buy a property that he could possibly rent out and make money from. Roy was more fortunate than most as he had a government job and a financial buffer to match. Employees working in private firms may not have been as lucky.


Case Study # 2


Sunil Patel found himself in a position, somewhat similar to Roy’s, when he finally retired some years ago. The most worrisome issue was that there were no funds collected for retirement. Without a concrete retirement plan, there was a virtual risk of Patel’s financial state becoming worse. Therefore, like Roy, Patel had to build his safety net after retirement. The initial thing on Patel’s mind was to cut out any debts. Therefore, all loans were settled first.

A significant corpus could be accumulated for Patel through financial planning, which would help him to be moderately stress-free, but the regret of not having invested earlier would plague him for life.




Retirement planning takes years, and the younger you start, the better off you will be when you retire. The trouble is, when you are young, you don’t realise how stressful retirement may be if you don’t have the financial capacity to meet your requirements. Investments must be made in youth, so they have time to grow and turn into a corpus that helps beat inflation, while maintaining your lifestyle and any add-ons like emergencies and healthcare needs. You may also wish to have a corpus established for your enjoyment and recreation, such as holidays, etc. through early retirement planning. One can take aid of a retirement calculator for further assistance.

Therefore, while you are young, you may consider planning, investing in a diversified portfolio. If you have just depended on a pension plan, you may consider rectifying your finances as per your current situation. The first thing to do is to opt for some fixed income instruments like senior citizen schemes. These may also give you tax benefits. If you haven’t made retirement plans, a DIY (Do-It-Yourself) method is not a good idea and talking to a financial advisor may help.


#Survey conducted by brand equity – Nielsen in March 2020

~Tax benefits as per prevailing Income tax laws shall apply. Please check with your tax consultant for eligibility.

**Past performance is not indicative of future performance.

The above information is for general understanding and is meant to educate the general public at large. The reader will have to verify the facts, law and content with the prevailing tax statutes and seek appropriate professional advice before acting on the basis of the above information.

The views stated in this article are not to be construed as investment advice and readers are suggested to seek independent financial advice before making any investment decisions. For more details on risk factors, terms and conditions please read the sales brochure & policy document (available on carefully before concluding a sale.