Can I include my spouse in the annuity plan?

Yes, you can include your spouse in the annuity plan. Insurance companies offer options like full or half annuity to the spouse depending upon the annuity option chosen.

What are the different annuity options in Bajaj Allianz Life Pension Guarantee?

Bajaj Allianz Life Pension Guarantee plan offers regular income after retirement. You can opt from monthly, quarterly, half-yearly or yearly annuity payment mode depending on your convenience. The plan offers a range of annuity options to choose from. These include life annuity, life annuity with Return of Purchase Price; annuity certain for period of 5 years, 10 years, 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) and joint life last survivor with 100% of annuity to spouse.

Should I purchase 100% annuities from the maturity benefit?

You can either use the full amount or opt to take up to 1/3rd of the maturity benefit as a lump sum and use the balance amount to purchase an annuity plan from Bajaj Allianz Life.

Is there any Guaranteed Maturity Benefit (GMB) in retirement plans?

Yes, Bajaj Allianz Retire Rich offers Guaranteed Maturity Benefit (GMB) of 101% of the sum of all premiums paid by you till the time of the policy maturity. At maturity higher of the fund value or the Guaranteed Maturity Benefit (GMB) will be payable to you.

Guaranteed^* Income throughout life

Multiple Annuity Options

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

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

Guaranteed^ lifelong regular income

watch video

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
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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 plan, 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.

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

1

Choose Deferred or Immediate Annuity option

Annuity option has to be chosen at inception and once opted cannot be changed
2

Enter the Purchase price you wish to pay or the Annuity you wish to receive
3

Choose The Annuity Payout Frequency
4

Receive Annuity Payouts As Per Chosen Frequency

Minimum Age at Entry

Immediate Annuity

30 years

For policies sold through POS Channel, the minimum entry age will be 40 years and as per prevailing IRDAI POS Guidelines, as amended from time to time

Deferred Annuity

45 years

Maximum Age at Entry

Immediate Annuity

85 years

For policies sold through POS Channel, the maximum entry ages will be 70 and as per prevailing IRDAI POS Guidelines, as amended from time to time

Deferred Annuity

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

Higher ages at entry may be allowed under the annuity options, Life Annuity with Return of Purchase Price on dealth and Joint Life Last Survivor with 100% of Annuity to spouse & with Return of Purchase Price on dealth of last survivor to cater to the needs of NPS subscribers, as per extant PFRDA guidelines

Purchase Price

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

For policies sold through POS Channel, the Annuity amounts will be as per prevailing IRDAI POS Guidelines, as amended from time to time

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 years
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

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

Entry age is age at last birthday

Brochure
Download
Policy Document
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Annuity

Annuity

Entry Age (Age at last birthday)	Purchase Price^[1]	Immediate Annuity		Deferred Annuity (Deferment Period=10 years, Single premium payment)
Entry Age (Age at last birthday)	Purchase Price^[1]	Option A: Life Annuity (`)	Option B: Life Annuity with ROP on death (`)	Option A: Life Annuity (`)	Option B: Life Annuity with ROP on death (`)
50 years / Male	`25 Lakhs	`1,84,500	`1,69,200	`3,49,000	`3,12,475
55 years / Male		`1,94,775	`1,69,750	`3,78,175	`3,20,150
60 years / Male		`2,08,450	`1,70,075	`4,18,200	`3,24,600

^[1]Purchase price is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws if any

The plan can be purchased directly from the insurance company’s website also at the applicable annuity rates

Note - The Annuity Payment Frequency for the above illustration is Yearly.

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.

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 and on death after the Deferment period, no further benefit shall be payable.

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 the Purchase price plus attached Guaranteed Additions less annuity instalments paid shall be paid to your nominee, subject to a minimum amount equivalent to the Purchase price.

Option F

Joint Life Last Survivor with 100% of Annuity to spouse & with Return of Purchase Price (ROP¹) on death of Last Survivor: (Only Single Premium payment is available in this option) 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 the Purchase price plus attached Guaranteed Additions less annuity instalments paid shall be paid to your nominee, subject to a minimum amount equal to the Purchase price

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.

On death after the Deferment period and before receiving the Survival benefit², an amount equal to the Purchase price plus attached Guaranteed Additions less annuity instalments paid shall be paid to your nominee, subject to a minimum amount equal to the Purchase price. 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: (Only Single Premium payment is available in this option) 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 after the Deferment period, an amount equal to the Purchase price plus attached Guaranteed Additions less sum of the Survival benefit² paid (if any) less annuity instalments paid shall be paid to your nominee. This amount shall be subject to a minimum of Purchase price less Survival benefit² 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

Documents you’ll need before investing

Retirement Age - Know How To Prepare For It

Planning for retirement is the most crucial step for every individual.

Retirement Benefits – How To Enjoy Them Without Worry

Most people are guided by the proverb - Work is Worship throughout their professional life.

⭐ 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.

Life Insurance Glossary

Annualized Premium

“Annualised Premium” means the total amount of Regular Premiums payable in a Policy Year, after due consideration of applicable premium factors for various Premium Payment Frequency. In this calculation, any extra premium, Rider Premium or applicable taxes are excluded.

Grace Period

“Grace Period” means a period of fifteen (15) days for a monthly Premium Payment Frequency and thirty (30) days for other than monthly Premium Payment Frequency, from the due date of the Regular Premium payment.

Life Assured

“Claimant” means the Life Assured (if alive) or Policyholder (if different from the Life Assured) or the assignee or the Nominee or the legal heirs of Policyholder/Nominee(s) to whom the Policy Benefit will be payable.

Maturity Date

“Maturity Date” means the date specified in the Schedule on which the Maturity Benefit as per policy document shall become payable to the Policyholder

Nominee

“Nominee” means the person who has been nominated in writing to the Company by the Policyholder, who is entitled to receive the Death Benefits under the Policy as mentioned in Policy Document

Paid up Sum Assured on Death

“Paid-up Sum Assured on Death” is the reduced value of the Sum Assured on Death arrived at by multiplying the Sum Assured on Death with the proportion of the number of Regular Premiums paid to the total number of Regular Premiums payable under the Policy.

Paid up Sum Assured on Maturity

If the Regular Premiums due for first three (3) Policy Years are paid and subsequent Regular Premiums are not paid, the Policy will, immediately and automatically, be converted to a paid-up Policy on the expiry of the Grace Period as per the conditions stated in the policy document.

Paid up Sum Assured

“Paid-up Sum Assured” is the reduced value of the Sum Assured arrived at by multiplying the Sum Assured with the proportion of the number of Regular Premiums paid to the total number of Regular Premiums payable under the Policy

Policyholder

“Policyholder” means the adult person named in the Schedule who has concluded the Policy with the Company

Rider Benefit

“Rider Benefit” means the benefit payable under the Rider on the happening of the contingent event covered under the Rider. For more details, refer to the Policy Document

Rider Life Assured

“Rider Life Assured” means the person named as the Rider Life Assured in the Schedule whose life is assured under this Rider

Rider Premium

“Rider Premium” means the amount exclusive of applicable taxes, if any, payable by the Policyholder at regular intervals during the Rider Premium Paying Term, in amount (along with and as part of the Regular Premium) and at the Premium Payment Frequency.

Rider Premium Paying Term

“Rider Premium Paying Term” means the period specified in the Schedule during which the Rider Premium is payable.

Rider Term

"Rider Term” means the period between the Date of Commencement of Rider and the Rider Maturity Date, as mentioned in the Schedule

Sum Assured

“Sum Assured” is the amount as specified in the Schedule under the Policy.

Surrender Benefit

“Surrender Benefit” means the benefit, if any, payable on the surrender of the Policy. For more details refer to the Policy Document

ULIP Investment Plan

Bajaj Allianz Life Goal Assure

Tax Saver
Return of life cover charges
Choice of 4 investment strategies
Maturity in installments

Know more

ULIP Investment Plan

Bajaj Allianz Life LongLife Goal

Retired Life Income
Whole of Life Insurance Cover
Loyalty additions
Periodical Return of Life Cover charges ULIP
Tax Benefits under Section 80C & 10(10D)^$

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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

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#1Top Riser Brand Amongst ‘Top 75' most valuable Indian Brands 2022¹
One of the most Trusted Brand²
Claims Settlement Ratio 99.02%^~
1 Day Claim Approval⁷
Solvency ratio of 581%^
AAA; Stable Rating by CARE^$
Claim deposits via electronic transfer to make process faster
` 85,623 Crore Total Assets Under Management (AUM)^**
2.87 Crore number of lives covered^#
Our Priority is not to sell Life Insurance, it is to serve you in the fastest & most convenient manner when you need us.

~Individual Death Claim Settlement Ratio for FY 2021-2022

**All figures as on 31 March 2022

^Solvency ratio 581% as at 31 March 2022 against IRDAI mandated 150%

^#Individual & Group

¹Report published by Kantar BrandZ India 2022, for details click here

²Survey conducted by brand equity – Nielsen in March 2020

⁷95.49% of non-investigative individual claims approved in one working day for FY 2021-22. 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

"What are your life goals?" is one of the most common questions that comes to one's mind while taking any step further in Life. Most just answer it by laughing it off or saying we will think about it.

A key reason that they feel this way is that they haven't spent enough time thinking about what they want from their life, and haven't set themselves any goals.

Goals keep changing as per different life stages and one has to plan meticulously for their future.

Deciding your Life Goal is all about planning to "Live your life, your way". There could be various Life Goals such as trotting the globe, becoming a food blogger to starting your own business, owning your dream house, or planning your Childs education or marriage.

L"IF"E is full of IF's... and one needs to plan to secure their loved ones and themselves against the Ifs of Life. When you opt for a life insurance plan, you transfer your family's financial risks in case of any unfortunate event to the life insurer. This allows you and your loved ones to live life fearlessly. Life Insurance protects your family's financial wellbeing from the consequences of living without an income.

When you purchase a life insurance policy, one of your major life goal gets fulfilled i.e. you purchase a sense of security. A safety net that cushions your family members from the financial impact of your sudden absence and ensures that any outstanding debts that were incurred during your lifetime don't fall upon your loved ones.

Having life goals is an important aspect in each one's life. One needs to be SMART and plan out well in advance to ensure nothing goes wrong in the future. Life insurance offers a range of products that could come in handy for meeting your financial goals.

To ensure that it is not too late, get your #LifeGoals insured with us today! It will help you smile in the face of tomorrow's uncertainties and let you live a worry free life!

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

^@invested amount = Return of Purchase Price^& excluding Goods and Service Tax

^#Only applicable for Option G and Option H

^$ Only applicable for Option B and F

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

GLOSSARY - PULL SMS TABLE!
No.	Service	Type Keyword	Send To
1	For Callback for service related queries	SUPPORT<space>POLICY NO	8108222251
2	For Callback for renewal premium payment related queries (From Registered Mobile Number)	RENEW<space>POLICY NO
3	For Branch Address	BRANCH<space>PIN CODE
4	For Callback for Reinvestment related queries (From Registered Mobile Number)	REINVESTMAT<space>POLICY NO
5	For Fund Value of Policy (From Registered Mobile Number)	FV<space>POLICY NO
6	For Account Statement (From Registered Mobile Number)	ACCSTMT<space>POLICY NO
7	To Update Email Address (From Registered Mobile Number)	EREG<space>Unique ID*<space>DOB of policyholder in DDMMYYYY<space>email id
8	For Callback for queries related to fund switching	FSWITCH<space>POLICY NO
9	For IT Certificate (From Registered Mobile Number)	TAXCERT<space>POLICY NO
10	For Claim status	CLAIM<space>POLICY NO

GLOSSARY - PULL SMS TABLE!
No.	Service	Type Keyword	Send To
1	For Callback for service related queries	SUPPORT<space>POLICY NO	8108222251
2	For Callback for renewal premium payment related queries (From Registered Mobile Number)	RENEW<space>POLICY NO
3	For Branch Address	BRANCH<space>PIN CODE
4	For Callback for Reinvestment related queries (From Registered Mobile Number)	REINVESTMAT<space>POLICY NO
5	For Fund Value of Policy (From Registered Mobile Number)	FV<space>POLICY NO
6	For Account Statement (From Registered Mobile Number)	ACCSTMT<space>POLICY NO
7	To Update Email Address (From Registered Mobile Number)	EREG<space>UNIQUE ID as printed on policy bond<space>DOB of policyholder in DDMMYYYY<space>email id
8	For Callback for queries related to fund switching	FSWITCH<space>POLICY NO
9	For IT Certificate (From Registered Mobile Number)	TAXCERT<space>POLICY NO
10	For Claim status	CLAIM<space>POLICY NO

Calling From	Phone Number (Toll Free)
AUSTRALIA	80037371371
CANADA
HONG KONG
ISRAEL
MALAYSIA
NEW ZEALAND
PHILIPPINES
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BRUNEI	8014605
INDONESIA	0018030160202
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Disclaimer

Retirement Plan - Bajaj Allianz Life Guaranteed Pension Goal Overview

Guaranteed^ lifelong regular income

Return of purchase price

Joint Life Option

Deferred annuity with annuity amount guaranteed* at InceptionWatch Video

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

Immediate Annuity

Deferred Annuity

Maximum Age at Entry

Immediate Annuity

Deferred Annuity

Purchase Price

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)

Minimum

Maximum

Premium Paying Term

Single Premium(Immediate / Deferred Annuity)

Regular Premium(Deferred Annuity)

Minimum Group Size

5 members

Brochure

Policy Document

Annuity Options

Option A

Option B

Option C

Option D

Option E

Option F

Option G

Option H

Option I

Option A

Option B

Option F

Option G

Option H

Life Insurance Guide

FAQs

Documents you’ll need before investing

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

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

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

Life Insurance Glossary

Annualized Premium

Grace Period

Life Assured

Maturity Date

Nominee

Paid up Sum Assured on Death

Paid up Sum Assured on Maturity

Paid up Sum Assured

Policyholder

Rider Benefit

Rider Life Assured

Rider Premium

Rider Premium Paying Term

Rider Term

Sum Assured

Surrender Benefit

Customers also bought

ULIP Investment Plan

Bajaj Allianz Life Goal Assure

ULIP Investment Plan

Bajaj Allianz Life LongLife Goal

Deferred annuity with annuity amount guaranteed^* at Inception
Watch Video

Yearly, half-yearly, quarterly, monthly

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