How soon can I start receiving annuity payments once the policy has started?

It all depends on the frequency of annuity payment you choose. Pension Guarantee has four annuity frequency options – monthly, quarterly, half-yearly and yearly. For instance, if you opt for the monthly option, your annuity starts a month after the policy commences.

After my death, would my spouse continue to receive annuity?

It depends on the annuity option you have opted for. If you choose the joint life last survivor option, then your spouse would continue to receive annuity benefits even after your death.

Is it possible to ensure that the principal amount remains intact, and it goes back to the nominee after my death?

Pension Guarantee has the option of returning the purchase price (or the money invested) after the death of the Life Assured. Depending upon the annuity option opted for, on the death of the life assured, the invested amount initially in the policy is paid back to the nominee/legal heir.

Claim Settlement Ratio of 99.23%^~

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Bajaj Allianz Life Guaranteed Pension Goal II

A Non-Linked Non-Participating Immediate & Deferred Annuity Plan

No medicals

Quick Issuance

Guaranteed^* Income throughout life

Multiple Annuity Options

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Gender*

Annual Income (in ₹ lakhs)

< 2.5 2.5-5 5-7.5 7.5-10 10-15 15-20 >20

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Life Cover

Cover till Age

Pay Premium

Premium Amount(Incl. GST)

₹ 80,615/Annually

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Overview
Key Advantages
How this works
Eligibility
Downloads
Sample Illustration
Annuity Options & Benefits

Retirement Plan - Bajaj Allianz Life Guaranteed Pension Goal II Overview

With the advent of technology, our lifestyle goals have upgraded. Today we use gadgets, appliances and services which were not there 2-3 decades ago. Who knows what is in store for us in the next 2-3 decades? Hence, it is important for us to have a guarantee that our lifestyle goals are done even in our second innings of life- retirement.

Presenting Bajaj Allianz Life Guaranteed Pension Goal II which assures your Lifestyle goals by giving guaranteed income throughout life as per your choice and need.

Guaranteed^ Lifelong Regular Income

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The plan offers a guaranteed regular income, throughout life as per your choice and need (Yearly/Half-yearly/Quarterly/Monthly)

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

Return of Purchase Price

Option to receive your invested amount back as Return of Purchase Price¹ (ROP) on death or as Survival benefit.

¹The Purchase Price is the single Premium or the sum of all regular/limited Premiums; plus, top-up Premiums paid excluding any GST/any other tax as may be applicable from time to time.

Joint Life Option

You can include your spouse in the annuity plan with 50% or 100% annuity payable to your spouse after your death.

Deferred Annuity with Annuity Amount Guaranteed* at Inception

The plan offers both immediate and deferred annuity options. In the deferred annuity option, you pay a lump sum or regular/limited Premium, and the annuity payout will start after the deferment period chosen by you at inception. The deferment period can be a minimum of 1 year to a maximum of 10 years.

Multiple Annuity Options to choose from

Bajaj Allianz Life Guaranteed Pension Goal offers you nine immediate annuity options and five deferred annuity options to choose from in line with your particular needs.

Multiple Premium Paying Options

Under deferred annuity options, you can opt for single premium or regular/limited premium option for 5 to 10 years.
Under a regular/limited premium plan¹, you can pay your premiums monthly, quarterly, half-yearly or yearly as per your convenience. Under immediate annuity options, only single premium option is allowed.

¹Regular/Limited premium payment term is only available with Option A and Option B in Deferred Annuity

Choose Deferred or Immediate Annuity option

Annuity option has to be chosen at inception and once opted cannot be changed

Enter the Purchase price you wish to pay or the Annuity you wish to receive

Choose the Annuity payout frequency.

Receive Annuity Payouts As Per Chosen Frequency

Minimum Age at Entry (applicable for Single & Joint lives)³

Immediate Annuity

30 years

Deferred Annuity

45 years

Maximum Age at Entry

Immediate Annuity

85 years

Deferred Annuity

84 years
Subject to Annuity starting at a maximum age of 85 years

Minimum and Maximum Premium

As per minimum/maximum Annuity Instalment

As per prevailing Board Approved Underwriting Policy

Minimum Annuity Amount

	Yearly	Half Yearly	Quarterly	Monthly
Immediate/Deferred Annuity	₹12,000	₹6,000	₹3,000	₹1,000

The minimum Annuity is not applicable in case the purchase of Annuity is from a superannuation fund, pension fund/Policy or from the NPS fund etc

Maximum Annuity Amount

No Limit

Modes of Payment of Premium (only under Deferred Annuity Regular/Limited Premium)

Yearly, Half-yearly, Quarterly, Monthly

Quarterly & monthly Premium frequencies are available only with auto-debit mode (as approved by RBI)

Deferment Period (applicable only for Deferred Annuity)

Minimum

Single Premium	1 year
Regular/Limited Premium	PPT Chosen

Maximum

Single Premium	10 year
Regular/Limited Premium

Premium Paying Term

Single Premium(Immediate / Deferred Annuity)

Single Premium

Regular Premium(Deferred Annuity)

Minimum

5 years

Maximum

10 years

Minimum Group Size

5 Members

³If a life assured (Annuitant) or nominee/legal heirs under a deferred pension Policy with BALIC uses the proceeds from that Policy to purchase this Policy,then, the entry ages will not apply. If this product is purchased as QROPS through transfer of UK tax relieved assets, the minimum entry age for payment ofannuity will be governed by the rules defined by HMRC from time to time.

- Deferment period will start from the Policy commencement date in a Deferred Annuity policy.

- Entry age is age at last birthday.

- For policies sourced through POS channel Policy terms & conditions, Eligibility Conditions and annuity amounts shall be as per prevailing POS guidelines, as amended from time to time.

- Higher ages at entry may be allowed under the annuity options, Option B and Option F to cater to the needs of NPS subscribers, as per extant PFRDA guidelines.

- If a life assured (annuitant) or nominee/legal-heirs under a deferred pension policy with BALIC, uses the proceeds from that policy to purchase this policy, then, the above mentioned minimum and maximum entry ages will not apply, and it shall be as below:

a) Under a single life annuity, the annuitant’s minimum age at entry will be 0 years last birthday and maximum 100 years last birthday. The risk cover will start immediately, even for a minor life. In case of a minor life, an individual policy will vest on the life assured on attainment of age 18.

b) Under a joint life annuity, both the annuitants’ minimum ages at entry will be 18 years last birthday and maximum 100 years last birthday

- If this product is purchased as QROPS through transfer of UK tax relieved assets, the minimum entry age for payment of annuity will be governed by the rules defined by HMRCfrom time to time

- If the nominee/legal heir is a minor, and uses the proceeds to purchase this policy, then, the policy will vest on the life assured on attainment of age 18.

- The product is available for sale through online mode.

Brochure

Download

Policy Document

Download

Customer Information Sheet

Download

Annuity

Age at last birthday	Purchase Price³	Immediate Annuity		Deferred Annuity (Deferment Period=10 years, Single premium payment)
Age at last birthday	Purchase Price³	Option A: Life Annuity (Rs.)	Option B: Life Annuity with ROP on death (100% ROP)(Rs.)	Option A: Life Annuity (Rs.)	Option B: Life Annuity with ROP on death (100% ROP)(Rs.)
50 years / Male	Rs. 25 Lakhs	1,71,900	1,54,700	3,47,550	3,18,400
55 years / Male		1,82,300	1,55,200	3,81,850	3,36,075
60 years / Male		1,96,100	1,55,500	4,33,550	3,62,525

³Purchase price is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws if any

Annuity Options

You can choose any of the following Annuity options^{^} at inception.

Immediate Annuity :

Pay a lump sum and the Annuity payout will start immediately, as early as next month, depending up on the Annuity frequency option chosen

Deferred Annuity :

Pay a lump sum or regular/limited Premium and Annuity payout will start after the deferment period, chosen by you

Annuity Options	A	B	C	D	E	F	G	H	I
Annuity Options	Life Annuity	Life Annuity with ROP on death	Annuity Certain (5/10/15/20 yrs) and life thereafter	Joint Life Last Survivor with 50% of Annuity to spouse	Joint Life Last Survivor with 100% of Annuity to spouse	Joint Life Last Survivor with 100% of Annuity to spouse & with ROP on death of Last Survivor	Life Annuity with ROP on death or survival	Life Annuity with ROP on death or in instalments on survival	Family Pension
Immediate Annuity
Deferred Annuity (SP)
Deferred Annuity (RP)

Regular/Limited Premium (RP) and Single Premium (SP)

^{^}Option once chosen at inception cannot be changed during the term of the Policy.

- Premium will vary depending upon the Annuity Option chosen

- For policies sold under POS, the annuity options available will be:

Type of Annuity	Annuity option available
Only Individual Immediate Annuity	Option B- Life Annuity with Return of Purchase Price (ROP) on death

Immediate Annuity
Deferred Annuity

Let us look at the benefits available under Immediate Annuity options. In these options, Annuity will be payable to you on each Annuity instalment date according to the Annuity payment frequency opted by you at the inception of the policy.

Option A

Life Annuity: Annuity will be payable to you throughout life.

Option B

Life Annuity with Return of Purchase Price (ROP¹)on death: Annuity will be payable to you throughout life and on death the Purchase price will be returned to your nominee.

Option C

Annuity certain and life thereafter: Annuity will be payable to you for a guaranteed period of 5, 10, 15 or 20 years, as chosen by you at inception; or throughout life, whichever is later. On death during the Annuity-Certain period, the remaining Annuity instalments will be paid to your nominee till the end of Annuity-Certain period.

Option D

Joint Life Last Survivor with 50% of Annuity to spouse: Annuity will be payable to you throughout life and on death, your spouse will receive 50% of the prevailing Annuity amount throughout his/her life.

Option E

Joint Life Last Survivor with 100% of Annuity to spouse: Annuity will be payable to you throughout life and on death, your spouse will receive 100% of the prevailing Annuity amount throughout his/her life.

Option F

Joint Life Last Survivor with 100% of Annuity to spouse & with Return of Purchase Price (ROP¹) on death of Last Survivor : Annuity will be payable to you throughout life and on death, your spouse will receive 100% of the prevailing Annuity amount throughout his/her life. On death of the last surviving life, the Purchase Price will be returned to the nominee.

Option G

Life Annuity with Return of Purchase Price (ROP¹ ) on death or survival: (Only Single Premium payment is available in this option) Annuity will be payable to you throughout life and additionally on the policy anniversary after the 25th Policy Year or the policy anniversary after attaining Age 85 (whichever is later), the Purchase Price will be returned to you as Survival benefit² with annuity continuing subsequently.

On death before receiving the Survival benefit², the Purchase price will be returned to your nominee and on death after receiving the Survival benefit², no further benefit shall be payable.

Option H

Life Annuity with Return of Purchase Price (ROP¹ ) on death or, in instalments, on survival Annuity will be payable to you throughout life and additionally, starting from the policy anniversary after the 15th Policy Year or the policy anniversary after attaining Age 70 (whichever is later), Survival benefit² would be payable to you at each policy anniversary in instalments as per the Annuity payment frequency with Annuity continuing subsequently

In yearly payment frequency, the Survival benefit² will be in annual instalments equivalent to 5% of the Purchase Price. Under monthly, quarterly and half-yearly, each instalment, respectively, will be (5%/12), (5%/4) and (5%/2) of the Purchase price. Survival benefit² will be payable till the total of all the instalments equals 100% of the Purchase Price.

On death, an amount equal to Purchase Price less sum of the Survival benefit² paid (if any) shall be paid to your nominee

Option I

Family Pension: (Only for NPS subscribers) Life annuity shall be payable to the NPS subscriber as below:

If the NPS subscriber has a spouse/spouse is alive: Annuity will be payable as per the Annuity option, Option F (Joint Life Last Survivor with 100% of annuity to spouse & with ROP on death of last survivor).

If the NPS subscriber does not have a spouse or his/her spouse is not alive: Annuity will be payable as per the annuity option, Option B (Life annuity with ROP on death).

On death of the both the annuitant and the spouse:

The ROP shall be used to purchase an Annuity under Annuity option, Option B, on the dependent mother (if alive) of the deceased NPS subscriber; and

On the death of the mother, ROP shall be used to purchase an Annuity as per Annuity option, Option B, on the dependent father (if alive) of the deceased NPS subscriber.

The Annuity amount, on each purchase (mentioned above), will be based on the prevailing annuity rate then under the mentioned Annuity option.

On the death of the last surviving annuitant (out of the NPS subscriber, the spouse, the mother, the father), and provided the policy has not been terminated prior, the death benefit payable shall be 100% of the Purchase price

¹The Purchase Price is the single Premium or the sum of all regular/limited Premiums paid (including in a paid-up policy); excluding any GST/any other tax as may be applicable from time to time.

² Purchase price is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws if any

Let us look at the benefits available under Deferred Annuity options. In these options, Annuity will be payable to you on each Annuity instalment date, post completion of the Deferment period, and according to the Annuity payment frequency opted by you at the inception of the policy.

On death during the Deferment period, an amount equal to the Purchase price plus attached Guaranteed Additions, subject to a minimum of 105% of Total Premiums paid, shall be paid to your nominee.

Option A

Life Annuity: Annuity will be payable to you throughout life.

Option B

Life Annuity with Return of Purchase Price (ROP¹ )on death: Annuity will be payable to you throughout life and on death after the Deferment period, an amount equal to X% of Total Premiums Paid shall be paid to your nominee. The proportion (X%) of the Purchase Price given as ROP can range from 50% to 100%, as chosen by the policyholder at inception. The proportion,once chosen, cannot be changed during the term of the policy.

Option E

Joint Life Last Survivor with 100% of Annuity to spouse: Annuity will be payable to you throughout life; and on death, your spouse will receive 100% of the prevailing Annuity throughout his/her life. Under deferred annuity, this option is available only with regular premium payment.

Option F

Joint Life Last Survivor with 100% of Annuity to spouse & with Return of Purchase Price (ROP¹) on death of Last Survivor: Annuity will be payable to you throughout life and on death, your spouse will receive 100% of the prevailing Annuity throughout his/her life.

On death of surviving life after the Deferment period, an amount equal to X% of Total Premiums Paid shall be paid to your nominee.The proportion (X%) of the Purchase Price given as ROP can range from 50% to 100%, as chosen by the policyholder at inception. The proportion, once chosen, cannot be changed during the term of the policy. Under Deferred Annuity with Single Premium payment,X% is,mandatorily,100%.

Option G

Life Annuity with Return of Purchase Price (ROP¹ ) on death or survival: (Only Single Premium payment is available in this option) Annuity will be payable to you throughout life and additionally on the policy anniversary after the 25th policy year or the policy anniversary after attaining age 85 (whichever is later), the Purchase price will be returned to you as Survival benefit with Annuity continuing subsequently

On death after the Deferment period and before receiving the Survival benefit, an amount equal to the Purchase price shall be paid to your nominee.On death after receiving the Survival benefit,no further benefit shall be payable.

Option H

Life Annuity with Return of Purchase Price (ROP¹ ) on death or, in instalments, on survival: (Only Single Premium payment is available in this option) Annuity will be payable to you o you throughout life and additionally, starting from the policy anniversary after the 15th Policy Year or the policy anniversary after attaining Age 70 (whichever is later), Survival benefit would be payable to you at each policy anniversary in instalments as per the Annuity payment frequency with Annuity continuing subsequently.

In yearly payment frequency, the Survival benefit will be in annual instalments equivalent to 5% of the Purchase Price. Under monthly, quarterly and half-yearly, each instalment, respectively, will be (5%/12), (5%/4) and (5%/2) of the Purchase price. Survival benefit will be payable till the total of all the instalments equals 100% of the Purchase Price.

On death after the Deferment period, an amount equal to the Purchase price less sum of the Survival benefit paid (if any) shall be paid to your nominee.This amount shall be subject to a minimum of Purchase price less Survival benefit paid (if any)

¹The Purchase Price is the single Premium or the sum of all regular/limited Premiums; plus, top-up Premiums paid excluding any GST/any other tax as may be applicable from time to time

² The due date of survival benefit with respect to Top-up premiums (if any) will be assessed from the date of payment of each top-up premium

Option C, D, E & I shall not be available with Deferred Annuity

Why Bajaj Allianz Life Insurance ?

99.23%

Claim Settlement Ratio^~

1 Day

Claim Approval^%

AAA

CARE Stable Rating^$

₹1,20,994 Cr

Assets Under Management (AUM)^**

3.97 Cr

Number of Lives Covered^#

432%

Solvency Ratio of 432%^{^}

Disclaimer:^~Individual Death Claim Settlement Ratio for FY 2023-2024 | ^%96.70% of non-investigative individual claims approved in one working day for FY 2023-24. 1 day is counted from date of intimation of claim before 3 PM on a working day (excluding Non-NAV days for ULIP) at Bajaj Allianz Life offices | ^$For details refer to press release published by CARE | ^**All figures as on 31 January, 2025 | ^{^}Solvency ratio 432% as at 31 March 2024 against IRDAI mandated 150% | ^#Individual & Group.

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Disclaimers:

Bajaj Allianz Life Guaranteed Pension Goal II - (UIN: 116N187V03)

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

^~~All figures as on 30 September 2024

Call to Buy

1800-209-4040

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS

IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

CIN: U66010PN2001PLC015959 | Registered Office Address: Bajaj Allianz House, Airport Road, Yerawada, Pune-411006, Maharashtra

Email: customercare@bajajallianz.co.in | Tollfree: 1800 209 7272

Disclaimer: Images used on this website and the models photographed in them are for representative purposes only and are not indicative of anyone's personal thoughts or ideas.

The Logo of Bajaj Allianz Life Insurance Co. Ltd. is provided on the basis of license given by Bajaj Finserv Ltd. to use its “Bajaj” Logo and Allianz SE to use its “Allianz” logo.

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Disclaimer

For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale. The terms and conditions of product/plan as contained in the Policy Document issued by the Company is available on the Web Site. The names of the Company, Products/Plans/funds do not indicate the quality and its future prospects or returns. IN ULIPs, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. Unlike traditional products, Unit linked insurance products are subject to market risk, which affect the Net Asset Values & the customer shall be responsible for his/her decision. Tax benefits are as per the prevailing Income Tax Laws including the Income Tax Act, 1961 and are subject to change from time to time. Goods and Services Tax will have to be borne by the Policyholder as per applicable rates. All other charges shall be levied in accordance with the terms and conditions of the policy.

This calculation and results displayed are based on information provided and certain assumptions about the rates of return. It is for assistance only and does not constitute an offer or solicitation. It is not intended to be and must not alone be taken as the basis for an investment decision. Kindly note that the returns are only illustrative and they are not guaranteed. The returns do not indicate the upper or lower limits of the return that you may get with your policy and the value is dependent on a number of factors including future performance. Bajaj Allianz Life Insurance Company Limited shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information reported by the calculator.

¹©2021 Morningstar. All Rights Reserved. The Morningstar name and logo are registered marks of Morningstar, Inc. The information, data, analyses and opinions ("Information") contained herein: (1) include the proprietary information of Morningstar and its content providers; (2) may not be copied or redistributed except as specifically authorized; (3) do not constitute investment advice; (4) are provided solely for informational purposes; (5) are not warranted to be complete, accurate or timely; and (6) may be drawn from fund data published on various dates and procured from various sources. Morningstar, its affiliates, and its officers, directors and employees shall not be liable for any trading decision, damage or any other loss arising from using the Information. Please verify all of the Information before using it and do not make any investment decision, except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up

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Bajaj Allianz Life Guaranteed Pension Goal II

Premium Amount(Incl. GST)

₹ 80,615/Annually

Overview

Key Advantages

How this works

Eligibility

Downloads

Sample Illustration

Annuity Options & Benefits

Retirement Plan - Bajaj Allianz Life Guaranteed Pension Goal II Overview

Guaranteed^ Lifelong Regular Income

Return of Purchase Price

Joint Life Option

Deferred Annuity with Annuity Amount Guaranteed* at Inception

Multiple Annuity Options to choose from

Multiple Premium Paying Options

Choose Deferred or Immediate Annuity option

Enter the Purchase price you wish to pay or the Annuity you wish to receive

Choose the Annuity payout frequency.

Receive Annuity Payouts As Per Chosen Frequency

Minimum Age at Entry (applicable for Single & Joint lives)3

Immediate Annuity

Deferred Annuity

Maximum Age at Entry

Immediate Annuity

Deferred Annuity

Minimum and Maximum Premium

As per minimum/maximum Annuity Instalment

As per prevailing Board Approved Underwriting Policy

Minimum Annuity Amount

Maximum Annuity Amount

No Limit

Modes of Payment of Premium (only under Deferred Annuity Regular/Limited Premium)

Yearly, Half-yearly, Quarterly, Monthly Quarterly & monthly Premium frequencies are available only with auto-debit mode (as approved by RBI)

Deferment Period (applicable only for Deferred Annuity)

Premium Paying Term

Single Premium(Immediate / Deferred Annuity)

Regular Premium(Deferred Annuity)

Minimum Group Size

Brochure

Policy Document

Customer Information Sheet

Annuity

Annuity Options

Immediate Annuity :

Deferred Annuity :

Why Bajaj Allianz Life Insurance ?

Customer Speaks

Frequently Asked Questions

Life Insurance Guide

Calculators

Minimum Age at Entry (applicable for Single & Joint lives)³

Yearly, Half-yearly, Quarterly, Monthly

Quarterly & monthly Premium frequencies are available only with auto-debit mode (as approved by RBI)