Claim Settlement Ratio of 99.23%~

Bajaj Allianz Life Saral Pension

A Single Premium Non-Linked, Non- Participating, Individual Immediate Annuity plan

Guarantee*: Lifelong guaranteed* regular income1

Flexibility: Receive annuity from next month onwards, subject to policy terms and conditions.

Legacy: Return of Purchase Price3 (ROP) to nominee on death

Family is the key: Joint life option with regular income for both lives1

Close Button
  • Overview

  • Key Advantages

  • How this works

  • Eligibility

  • Downloads

  • Sample Illustration

  • Annuity Options & Benefits

Bajaj Allianz Life presents a simple yet effective way of achieving your retirement goals. Bajaj Allianz Life Saral Pension is a single premium, non-linked, non-participating, individual immediate annuity plan, which provides regular income and also returns the purchase price on death.

Close Button

Guarantee*

Lifelong guaranteed* regular income1

Flexibility

Receive annuity from next month onwards, subject to policy terms and conditions.^

^Receive annuity from next month onwards under monthly annuity option and after 3months, 6 months and 1 year in case of quarterly, half-yearly and annual options respectively

Legacy

Return of Purchase Price3 (ROP) to nominee on death

Family is the key

Joint life option with regular income for both lives1

Easy Liquidity

Access to money through loan2

More Benefit

Liquidity on diagnosis of Critical Illness2

Close Button

Choose the annuity option

Choose 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.

Close Button

Minimum Age4 at Entry (applicable for Single & Joint lives)

40 years

 

For Policies sourced through POS channel, the minimum and maximum entry age will be as per the POS Guidelines as amended from time to time

Maximum Age4 at Entry (applicable for Single & Joint lives)

80 years

 

For Policies sourced through POS channel, the minimum and maximum entry age will be as per the POS Guidelines as amended from time to time

Annuity Options

- Life Annuity with Return of Purchase Price (ROP) on death (Available for all channels including POS Channel)

 

- Joint Life Last Survivor with 100% of Annuity to spouse & with Return of Purchase Price (ROP) on death of Last Survivor (Available for all channels excluding POS Channel)

Minimum Annuity Amount

Minimum Annuity Amount

 

Yearly

Half Yearly 

Quarterly

Monthly

Minimum

 

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

 

 

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

Purchase Price3

Depends on annuity amount

Premium Payment Term

Single Premium

3The Purchase Price is the Single Premium paid excluding any GST/any other tax as may be applicable from time to time 4Age is as of last birthday

Note: GST and cess (if any) will be collected over and above the Single Premium under the policy

Close Button

Brochure

Download

Policy Document

Download

Product Presentation

Download

Annuity

Entry Age

Purchase Price (without GST)

Option A: Life Annuity with Return of Purchase Price (ROP) on death (Rs)

Option B: Joint Life Last Survivor with 100% of Annuity to spouse & with Return of Purchase Price (ROP) on death of Last Survivor (Rs)

50 years / Male

Rs 25 Lakhs

1,79,875

1,78,300

55 years / Male

1,80,300

1,79,025

60 years / Male

1,80,800

1,79,750

Note:

  • In the above illustration, for Option B, the Entry Age for both lives is same. Spouse’s gender is Female.
  • For the above illustration, Annuity Payment Frequency is Yearly

You can choose any of the following Annuity options at inception. Option once chosen cannot be changed during the term of the policy

 

Option A: Life Annuity with Return of Purchase Price3 (ROP) on death:

Annuity will be payable to you throughout life and on death the Purchase price will be returned to your nominee.

 

Option B: Joint Life Last Survivor with 100% of Annuity to spouse & with Return of Purchase Price3 (ROP) 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 the Last Survivor, the Purchase Price will be returned to the nominee.

 

3The Purchase Price is the Single Premium paid excluding any GST/any other tax as may be applicable from time to time

 

Why Bajaj Allianz Life Insurance ?

99.23%
Claim Settlement Ratio of 99.23%~
1 Day
1 Day Claim Approval%
AAA Rating
AAA; Stable Rating by CARE$
₹1,09,829Cr
Assets Under Management (AUM)**
4.19 Cr
Number of Lives Covered#
432%
Solvency Ratio^

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 March, 2024 | ^Solvency ratio 432% as at 31 March 2024 against IRDAI mandated 150%. | #Individual & Group.

dot-image
Need Assistance

For all your needs, we're here with expert assistance

534 Branches
PAN India Service
1,50,841
Insurance Consultants
Have Us Call You
I agree and consent to the Terms & Conditions and the Privacy Policy

Customer Speaks

Happy with the services
I have invested in various products of Bajaj Allianz Life Insurance - I am happy with the services, returns and diversified product portfolio.
Rashmi Bhavnani
5
Satisfied, Trust
I am a happy customer who is satisfied with the after sales service. I have full trust in Bajaj Allianz Life Insurance Company.
Shrikant A Karande
5
Happy with the returns
I was introduced by my advisor to invest in Bajaj Allianz Life Insurance .I have invested in the same and am happy with the returns and services.
Kavita Goplani
5
Very Happy
I am a 7 year old customer of Bajaj Allianz Life Insurance and very happy about the services.
Dhruv Soni
5

Life Insurance Guide

  • Articles
  • Calculators
  • Podcasts
  • Videos
Close Button
Call to Buy Symbol

Call to Buy

X
Terms & Conditions

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

Disclaimers:
Plus Symbol
Minus Symbol

1Features and benefits mentioned above are dependent upon annuity option chosen

2 For details refer Loan and Surrender section from sales literature

3The Purchase Price is the Single Premium paid excluding any GST/any other tax as may be applicable from time to time

This sales literature gives the salient features of the plan only. The Policy document is the conclusive evident of contract and provides in details all the conditions &exclusions related to Bajaj Allianz Life Saral Pension.

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

close
Ask for an Agent
Sign up for personal visit and tailored advice from our expert agents