A Unit-Linked Pension Plan
"A plan that enables you to retire with laughter lines... not worry lines."
You have been working hard. You're going to retire one day. How do you want to spend your retirement? Travelling? Golfing? Turning a hobby into a second career or volunteering for a noble cause or simply spending more time with your family.
In retirement, how you choose to spend your time is now up to you. The decisions you make about your money today should be flexible enough to accommodate your changing needs.
Taking charge of your retirement begins with Bajaj Allianz Retire Rich - A Unit-linked Pension Plan that your retirement dreams are well met.
This retirement plan offers you the key benefits of:
Bajaj Allianz Retire Rich is a simple to understand unit-linked deferred pension plan.
Note: You will have to exercise one of the above three options before the vesting date *maximum as allowed by IT Act
You will get additional Loyalty Additions added to your Fund Value on the original vesting date of your policy. Loyalty Additions are equal to a percentage of annualized/single premium as given below:
|For Single Premium Payment option|
|7 to 10||Nil||Nil||Nil|
|11 to 15||8.5%||25.5%||3.0%|
|16 to 20||9.0%||27.0%||3.5%|
|21 to 25||10.0%||30.0%||4.0%|
|26 to 30||11.0%||33.0%||4.5%|
*maximum as allowed by IT Act
Alteration of Premium payment frequency (only in regular premium/ limited premium payment options)
|Premium Frequency Factor||1||1/2||1/4||1/12|
Option to make lump sum investment
You can make lump sum investments at any time except in the last five policy years by paying unlimited top up premiums to enhance your fund value, provided all due regular premiums are paid. The minimum top up premium is Rs. 5,000.
Option to change the premium paying term (only in case of regular and limited premium payment option)
|Pension Builder Fund|
|Risk Profile - Medium||(SFIN: ULIF06908/02/13PENSIONBUI116)|
The investment objective of this fund is to provide capital appreciation by investing in a suitable mix of debt and equities.
The fund strategy would be to invest in following mix of assets:
|Equity & equity related instruments||0% - 50%|
|Debt, fixed deposits & debt related instruments||25% - 100%|
|Mutual funds(a) and money market instruments||0% - 40%|
(a) Mutual fund exposure will be as mandated by the IRDA guidelines
The exposure to money market securities may be increased to 100% only in extreme situations external to the company, keeping in view market conditions, political, economic and other factors. All changes in the asset allocation will be with the intention of protecting the interests of the Policy holders.
Bajaj Allianz Retire Rich (UIN:116L126V01)
Subhash aged 35 years has taken a Bajaj Allianz Retire Rich for a Policy Term (PT) of 24 years. Subhash has decided to pay Rs. 1,00,000 as annual premium for a premium paying term of 20 years. On vesting date, Subhash's vesting benefit may be Rs.26,95,412 at 4% and Rs. 48,81,293 at 8% investment return respectively.
Above illustrations is at a Fund Management Charge of 1.25%
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Premium paid are eligible for tax benefits under section 80C of the Income Tax Act and Maturity benefit,death benefit and Surrender value are eligible for tax benefits under Section 10(10D) of the Income Tax Act, subject to the provision stated therein.
Disclaimer: 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) under either Fully or Partially Blocked category, any call made or SMS 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.
Disclaimer: Insurance is the subject of the solicitation. For more details about risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. The terms and conditions of product/plan as contained in the Policy Document issued by the Company is available on the Web Site. Please note that the name of the Bajaj Allianz product/plan does not indicate the quality of the insurance contract and its future prospects or returns. Investment in ULIPs is subject to market risks associated with capital markets. IN ULIPs, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. 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. Service tax and education cess 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.