Claim Settlement Ratio of 99.29%~

Close Button Close Button
X
NRI Services Helpline

Calling FromPhone Number
Calling us from INDIA18002097272 (Toll Free)
Rest of the World+912067871700
(Call charges apply)

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.

Bajaj Allianz Life Smart Pension

A Unit-Linked, Non-Participating, Individual Pension Plan

Build retirement corpus through market linked returns
Multiple fund options to choose from
Unlimited free switches
Liquidity through partial withdrawal
Tax Benefits*: On premiums paid and benefits received as per prevailing tax laws
calender_icon

Are you an NRI?

Select Country

I agree and consent to the Terms & Conditions and the Privacy Policy

Gender

I agree and consent to the Terms & Conditions and the Privacy Policy

Close Button
  • Overview

  • Key Advantages

  • How this works

  • Eligibility

  • Downloads

  • Sample Illustration

  • Policy Benefits

A plan that helps you retire with joyful memories, not financial worries.

After years of hard work, a time will come when you step into retirement. How do you envision your golden years? Traveling, pursuing a passion or dedicating time to a meaningful cause? Perhaps you simply wish to spend more quality time with your loved ones.

Retirement is a new chapter where your financial decisions today should offer the flexibility to adapt to your evolving needs. Presenting Bajaj Allianz Life Smart Pension, a Unit-Linked Non-Participating Individual Life Insurance Pension Plan, designed to help you systematically build your retirement corpus while offering the potential for market-linked growth, along with protection against uncertainties in life.

Close Button

Market-Linked Growth

Provides growth opportunities through market-linked returns to build your retirement corpus.

Waiver of Premium option

Under Variant 2: Assure, Waiver of Premium benefit ensures your policy continues uninterrupted in event of life assured’s unfortunate demise.

Wide range of funds

Multiple fund options to choose based on your risk-reward preference.

Liquidity

Flexibility to partially withdraw from your retirement corpus in case of major life event or critical illness.

Unlimited free switches

Enjoy the flexibility to switch between funds at no additional cost to help you adapt your investment strategy to market conditions.

Tax Benefits*

Tax benefits may be applicable on premiums paid and benefits received as per the prevailing tax laws

Close Button

Choose your Plan Variant

Choose your Policy Term, Premium Payment Term and Premium amount

Choose your fund/ strategy to suit your savings needs.

Your retirement corpus (vesting benefit) will grow based on your chosen fund and strategy. At vesting, you can use this amount to buy an immediate or deferred annuity, or choose to commute part of it.

Close Button

Minimum Age at Entry

Variant 1: Classic

18 years

 

Variant 2: Assure

18 years

Maximum Age at Entry

Variant 1: Classic

65 years

 

Variant 2: Assure

55 years

Minimum Age at Vesting

Variant 1: Classic

45 years

 

Variant 2: Assure

45 years

Maximum Age at Vesting

Variant 1: Classic

75 years

 

Variant 2: Assure

70 years

Policy Term (subject to minimum and maximum vesting age)

Variant 1: Classic

10 years to 57 years

 

Variant 2: Assure

10 to 52 years

Premium Payment Term

 

Variant 1: Classic

Single Pay

Limited Pay: 5 years to (Policy Term minus 1)

Regular Pay: Equal to Policy Term

 

Variant 2: Assure

Limited Pay: 5 years to (Policy Term minus 1)

Regular Pay: Equal to Policy Term 

Minimum Premium

 

Mode

Yearly

Half Yearly 

Quarterly

Monthly

Single  Premium

 

20,000

Limited/Regular Premium

 

12,000

6,000

3,000

1,000

Top-up  Premium

 

₹5,000

 

Quarterly & Monthly Premium payment frequency will be available under auto-debit options as approved by RBI

 

Maximum Premium

As per Board Approved Underwriting Policy (BAUP)

- All the references to age are as on last birthday.

- The product is also available for sale through online mode.

Close Button

Brochure

Download

Policy Document

Download

Customer Information Sheet

Download
  • Classic Variant

Mr. Sumit aged 40 years, an investment banker, wants to save for his retirement which is expected in the next 20 years. He wants a plan that provides market-linked returns that builds sufficient corpus for his retirement needs. He decides to purchase Bajaj Allianz Life Smart Pension (Variant 1: Classic). He paid the premium of Rs.2,00,000 p.a. for a period of 10 years with policy term of 20 years. The total premium that will be paid by him throughout the policy term will be Rs. 20,00,000.

Sumit , 40 years old

The above illustrations are considering investment in "Liquid Pension Fund II" and Goods & service tax of 18%.

The benefit amounts indicated is a non-guaranteed illustrative figure and is subject to policy terms and conditions. The assumed rate of returns indicated at 4% and 8% are illustrative and not guaranteed and do not indicate the upper or lower limits of returns under the policy.

 

At vesting, he decides to utilise 100% of vesting benefit to purchase annuity from Bajaj Allianz Life Insurance Company Limited. The Vesting benefit utilised to purchase annuity is inclusive of GST. His annuity at 7% assumed rate of return would be:

PPT (years)PT (years)Vesting Benefit (Rs.)Annuity Value (Rs.)
@4%@8%@4%@8%

10

20

₹28,42,927

₹51,19,069

₹1,99,005

₹3,58,335

Annuity payable values shown are only for illustrative purposes only, actual values will depend on the rates prevailing at the time of annuitization.

 

Assuming Sumit dies during the policy term, his nominee will receive death benefit as follows-

The nominee will have following options to take the death benefit:
• To withdraw the entire proceeds as lumpsum.
• To utilize the entire proceeds or part thereof for purchasing an annuity (immediate or deferred) from us at the then prevailing rate.
• To take proceeds in instalments.

Vesting Benefit

On survival of life assured till the date of vesting, Fund Value as on the vesting date shall be payable, provided all the due premiums are paid by you and policy is in force.

The proceeds from policy will be utilised as per options mentioned in ‘Options to avail Vesting Benefit’.

Options to avail Vesting Benefit -  On the date of vesting, you will have the following options:

  • To utilize the entire Vesting Benefit to purchase immediate annuity or deferred annuity from us at the then prevailing annuity rate. You shall have an option to purchase immediate annuity or deferred annuity from another insurer at the then prevailing annuity rate, by utilizing not more than 50%, of the entire proceeds of the policy net of commutation.
  • To commute/ withdraw up to 60% of the entire Vesting Benefit and utilize the balance amount to purchase immediate annuity or deferred annuity from us at the then prevailing annuity rate. You shall have an option to purchase immediate annuity or deferred annuity from another insurer at the then prevailing annuity rate, by utilizing not more than 50%, of the proceeds of the policy net of commutation.

In case proceeds of the policy (net of commutation) on vesting are not sufficient to purchase minimum annuity as allowed by Authority, as amended from time to time, such amount may be paid to the policyholder as lumpsum.

Death Benefit

Variant 1: Classic
In the unfortunate event of death of life assured during the policy term, provided all the due premiums have been paid and the policy is in force, the nominee shall get:
Higher of:

  • Fund Value
  • Guaranteed Death Benefit

The policy shall terminate on date of intimation of death of life assured.

The proceeds from policy will be utilised as per options mentioned in ‘Options to avail Death Benefit’.

Variant 2: Assure

In the unfortunate event of death of life assured during the policy term, provided all the due premiums are paid and policy is in force, the nominee shall get Guaranteed Death Benefit as lump sum immediately on death.

The policy shall continue till the end of policy term and company shall fund all future due premiums after the date of death of the life assured. Future premiums shall be credited in the proportion of allocation percentage as applicable on date of death.

The above benefits are as on date of intimation of death.

At the end of Policy Term, Fund Value shall be payable to the nominee and policy terminates.

The proceeds from policy will be utilised as per options mentioned in ‘Options to avail Death Benefit’.

Following conditions will apply on death of life assured -

  • Fund Value will continue to remain invested in the respective funds and strategies as on the death of the life assured.
  • All the benefits i.e. Return of Allocation Charges, Loyalty Addition and Vesting Booster will be added to the fund as and when due.
  • Only the Fund Management Charge and Policy Administration Charge will be levied. Life Insurance Cover will not apply and mortality charges will not be deducted.
  • The nominee will be allowed to make Partial Withdrawals during the policy term and Surrender only after completion of the premium payment term.
  • The nominee will also be allowed for performing limited fund switches.

Options to avail Death Benefit : The nominee shall have the following options:

  • Withdraw the entire proceeds as lumpsum.
  • To utilize the entire proceeds or part thereof for purchasing an annuity (immediate or deferred) from us at the then prevailing rate.
  • Withdraw the proceeds in instalments over a maximum period of five (5) years (For details, please refer ‘Settlement option’ in the brochure)

In case the proceeds of the policy (net of commutation) are not sufficient to purchase minimum annuity as stipulated by the Authority from time to time, the proceeds of the policy may be withdrawn as lump sum.

Close Button

Why Bajaj Allianz Life Insurance ?

99.29%
Claim Settlement Ratio~
1 Day
Claim Approval%
AAA
CARE Stable Rating$
₹1,23,734 Cr
Assets Under Management (AUM)**
3.85 Cr
Number of Lives Covered#
359%
Solvency Ratio of 359%^

Disclaimer:~Individual Death Claim Settlement Ratio for FY 2024-2025 | %99.29% of non-investigative individual claims approved in one working day for FY 2024-25. 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. 96% of non - investigative claims notified were processed within one day in FY’25 | $For details refer to press release published by CARE | **All figures as on 31 March, 2025 | ^Solvency ratio 359% as at 31 March 2025 against IRDAI mandated 150% | #Individual & Group as on 31 March, 2025

dot-image
Need Assistance

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

561~~ Branches
PAN India Service
1,59,122 ~~
Insurance Consultants
Have Us Call You
I agree and consent to the Terms & Conditions and the Privacy Policy

Customer Reviews

Customer Rating
4.8
4.8
Reviews by 4124 customers
Rate & Review

(Rate your experience on the website)

Please select the rating to proceed

Tell us how was your experience ?

1. Easily found what I needed

2. Information provided are clear and easy to understand

3. Look and feel of the website is attractive

4. Easy to download all relevant documents

5. User friendly website

6. Write Your Review

500 characters remaining
I agree and consent to the Terms & Conditions, 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
left click
right click

Frequently Asked Questions

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 Guide

  • Articles
  • Calculators

  • Podcasts
  • Videos

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

Planning for retirement is the most crucial step for every individual. An early retirement ensures that all the life goals of your loved ones are successfully met.

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

Most people are guided by the proverb - Work is Worship throughout their professional life. It doesn’t matter how much you love your work, you will have to stop

Underinsurance Calculator

Underinsurance Calculator

With the Underinsurance Calculator, check if your Life Cover is atleast 10x of your Annual Income.

Fixed Deposit Calculator

Answer a few easy questions to calculate your Fixed Deposit Returns.

NPS Calculator

Calculate your NPS returns effortlessly with our simple to use NPS Calculator.

SIP Calculator

Answer a few easy questions to calculate your Fixed Deposit Returns.

Retirement Preparedness Score Calculator

Retirement Preparedness Score Calculator

Answer a few simple questions to know how prepared you are for your retirement.

Life Goal Calculator

Answer a few simple questions to know the corpus required to fulfil your Life Goal.

Child Education Planning Tool

A simple to use and comprehensive tool to plan for your child's education.

Term Insurance Calculator

An easy to use Term Insurance calculator to determine the right life cover amount as per your needs.

Savings to Life Goals Convertor

Use this calculator to know how savings from regular expenses can help you achieve your Life Goals.

Financial Fitness Calculator

Get to know your Financial Fitness Score by answering few simple questions.

Immunity Score Calculator

Use our immunity calculator to find out your immunity score in just a few clicks!

ULIP Calculator

Know the amount to invest today to have the corpus to accomplish your Life Goals tomorrow.

Power of Compounding Calculator

Get an estimate of how much your investment will grow over a period of time.

Income Tax Calculator

Know your income tax based on the taxable income and explore Life Insurance plans to save more tax.

Child Plan Calculator

A simple to use calculator that helps you plan for fulfilling your Child's Life Goals.

Retirement Calculator

Calculate the amount you need to invest today to accomplish your retirement life goals.

Investment Calculator

Answer a few simple questions to know estimated corpus you will have to fulfil your Life Goals.

Body Mass Index (BMI) Calculator

Body Mass Index (BMI) is a measure to understand whether your body weight is healthy as per your height.

EP 1: How to Retire Rich

ft. Mr. Sameer Joshi, Chief Agency Officer, discussing how to manage finances for financial freedom.

EP 2: Decoding Union Budget FY24

Mr. Sampath Reddy, Chief Investment Officer, shares his views on the Union Budget 2023.

EP 3: Will Writing Simplified

Mr. Dheeraj Sehgal, CDO – IB & Mr. Jatin Popat, WillJini discuss Will Writing & Succession Planning.

Ep 4: Monthly Market Outlook (Mar'23)

Mr. Sampath Reddy, CIO talks about upcoming challenges - inflation & recession and our Market Outlook.

EP 5: Monthly Market Outlook (Apr'23)

Mr. Sampath Reddy, our CIO, is back with another insightful episode of India Market Outlook.

EP 6: Buidling Wealth with SISO

ft. Mr. Ajay Rajvanshi, Sr. EVP, as he shares his views on building wealth with SISO.

EP 7: Monthly Market Outlook (May'23)

Mr. Sampath Reddy, CIO, shares his views on the latest happenings in the market, globally and India.

EP 8: Monthly Market Outlook (Jun'23)

Mr. Sampath Reddy, CIO, discusses the impact of US FED, RBI and impact of global slowdown on India.

EP 9: NRIs and Investment in India

Mr. Rajesh Krishnan, COO, discusses immense investment potential of India for NRIs.

Life Insurance Made Easy | Nominee

This video explores life insurance policy nominations, empowering informed decisions for securing your family's future

Life Insurance Made Easy | Autopay

Know how Autopay simplifies the premium-paying process by eliminating the need for manual payments

Life Insurance Made Easy | Policy Admin Charges

Explore the management of life insurance processes with Policy Administration Charge in this video

Life Insurance Made Easy | Endowment

Wondering about combining life insurance and long-term savings? Explore Endowment Plan benefits and suitability here

Life Insurance Made Easy | Waiver of Premium

Discover how the waiver of premium provision can protect you from financial burdens in times of Death, critical illness or disability

Life Insurance Made Easy | Solvency Ratio

Discover the importance of solvency ratio for insurance companies and its implications in this insightful video

left click
right click
Close Button
Disclaimers:
Plus Symbol
Minus Symbol

Bajaj Allianz Life Smart Pension - (UIN: 116L209V01)

~~All figures as on 30 September 2024

The Unit Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender or withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of the fifth year. ULIPs are different from the traditional insurance products and are subject to the risk factors. The premium paid in ULIPs are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Bajaj Allianz Life Insurance Company Limited is only the name of the LifeInsurance Company and Bajaj Allianz Life Smart Pension - A Unit-Linked, Non-Participating, Individual Pension Plan (116L209V01) is only the name of the unit linked insurance contracts and does not in any way indicatethe quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document issued by the insurance company.The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns

*Tax benefits as per prevailing tax laws shall be applicable. Goods and Services tax and Cesses, if any will be charged extra as per prevailing tax rates. Tax laws are subject to amendments made thereto from time to time. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.

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

X
Disclaimer

*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 II - A Non-Linked Non-Participating Immediate & Deferred Annuity Plan (UIN: 116N187V01)
 

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

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

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