Bajaj Allianz Pension Plans

Bajaj Allianz Pension Plans are your reliable choice for securing a comfortable retirement. With these plans, you get a clear path to building a stable future tailored to your needs. They offer peace of mind and financial stability for your golden years. Whether you are looking for a steady income post-retirement or protection against uncertainties, Bajaj Allianz Pension Plans have you covered.

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What is Bajaj Allianz Pension Plan?

Bajaj Allianz Pension Plan is a retirement plan offered by Bajaj Allianz Life Insurance Company Limited. This plan is designed to help you build a corpus for your retirement years while ensuring financial stability and security post-retirement. 

These best investment plans allow you to make regular contributions towards your pension fund, which are then invested in various financial instruments to generate returns over time. Upon retirement, the accumulated corpus can be utilized to provide a regular income stream or can be withdrawn as a lump sum, depending on the chosen payout option. 

Bajaj Allianz Pension Plan typically offers features such as tax benefits, flexibility in contributions and payouts, and the option to choose between different investment strategies based on your risk appetite and financial goals.

Best Bajaj Allianz Pension Plans in India in 2024

Bajaj Allianz offers the following best pension plans in India to provide you with financial security for your retirement:

Bajaj Allianz Pension Plans Plan Type Entry Age Premium Payment Term (PPT) Policy Term (PT) Sum Assured on Vesting*
Bajaj Allianz Life Saral Pension Immediate Annuity 40 – 80 years  Single Pay N.A. (Immediate Annuity) Rs. 12,000 p.a.
Bajaj Allianz Life Guaranteed Pension Goal Immediate/ Deferred Annuity Immediate: 30 – 85 years;
Deferred: 45 – 84 years
Single Pay: One-time;
Regular/ Limited: 5 – 10 years
Rs. 12,000 p.a.
Bajaj Allianz Life LongLife Goal Limited Premium Endowment Plan 0 – 65 years N.A. 99 years minus (-) Entry Age 10 times Annualized Premium

Details of Bajaj Allianz Pension Plans in India in 2024

  1. Bajaj Allianz Life Saral Pension Plan

    The Bajaj Allianz Life Saral Pension Plan is a single premium, non-linked, non-participating, individual immediate annuity plan that provides regular income and returns the purchase price on death.

    Features of Bajaj Allianz Life Saral Pension Plan:

    • Guaranteed Lifelong Income: Enjoy the certainty of regular income for life, ensuring stability and security.

    • Flexible Payment Options: Customize your annuity payments according to your preferences, choosing monthly, quarterly, half-yearly, or annual intervals.

    • Legacy Protection: Safeguard your loved ones by ensuring the Purchase Price (ROP) is paid to the nominee in case of your demise.

    • Family-Centric Approach: Opt for a joint life option for a steady income stream for both you and your family, enhancing financial security.

    • Convenient Cash Access: Easily access your funds through loan facilities for added liquidity.

    • Additional Benefits: Gain immediate liquidity upon diagnosis of Critical Illness, offering extra peace of mind during difficult times.

  2. Bajaj Allianz Life Guaranteed Pension Goal Plan

    The Bajaj Allianz Life Guaranteed Pension Goal Plan is a non-linked, non-participating investment annuity plan designed to provide you with a guaranteed income after retirement.

    Features of Bajaj Allianz Life Guaranteed Pension Goal Plan:

    • Guaranteed Lifelong Income: Your annuity amount remains fixed from the start and is paid out regularly based on your chosen frequency (Yearly/Half-yearly/Quarterly/Monthly).

    • Diverse Annuity Options: Select from various choices to match your lifestyle goals.

    • Flexible Start Date: Decide when your annuity payments commence, either immediately or after a specified period from policy inception.

    • Family Security: Ensure your family's financial stability with Joint Life Annuity options, providing continued support for your spouse after your passing.

    • Return of Purchase Price: Choose to receive the Return of Purchase Price (ROP) in case of death or as a Survival Benefit.

  3. Bajaj Allianz Life LongLife Goal Plan

    The Bajaj Allianz Life LongLife Goal Plan is a whole life Unit Linked Insurance Plan (ULIP) offered by Bajaj Allianz Life Insurance. ULIPs are a type of investment plan that combines insurance coverage with market-linked investments.

    Features of Bajaj Allianz Life Life LongLife Goal Plan:

    • Retirement Planning: Opt for Retired Life Income to fulfill your retirement goals. This option provides a reliable stream of income during retirement years.

    • Retirement Income Guarantee: Secure Retired Life Income guaranteed until age 99 with Return Enhancer, ensuring peace of mind during your golden years.

    • Cost Management: Benefit from Periodical Return of Life Cover charges, easing the financial burden and ensuring affordability.

    • Policy Benefits: Receive Loyalty Additions every year from the 5th to the 25th Policy Year, enhancing the value of your policy over time.

    • Plan Variants: Choose from two plan variants: LongLife Goal without Waiver of Premium or LongLife Goal with Waiver of Premium, based on your preferences and needs.

    • Premium Flexibility: Avail of the option of Periodical Return of Waiver of Premium charges*, providing flexibility in managing premium payments.

    • Funds Selection: Access a diverse range of Fifteen (15) funds to invest in, allowing you to tailor your investment portfolio to your specific requirements.

    • Premium Reduction: Take advantage of the option to reduce premium costs, ensuring greater affordability and flexibility in managing your policy.

People also read: Bajaj Allianz NFO

Steps to Buy Bajaj Allianz Pension Plan at Policybazaar

  • Visit the Website: Go to the Policybazaar website.

  • Navigate to Pension Plans: Look for the section related to pension plans. This is usually found under the "Retirement Plans" or "Pension Plans" category.

  • Search for Bajaj Allianz Plans: Browse through the available plans to find Bajaj Allianz Pension Plans.

  • Compare Plans: Review and compare the different pension plans offered by Bajaj Allianz. Consider factors such as premium amount, coverage, benefits, and features.

  • Use Calculator: Utilize the Pension Plan Calculator and NPS Calculator to compare your maturity benefits from the Bajaj Allianz Pension Plans and the government-offered National Pension Scheme (NPS).

  • Select a Plan: Once you have decided on a plan that suits your needs, click on it to get more details.

  • Enter Details: Fill in the required details, such as your age, income, and other personal information, as prompted.

  • Customize Your Plan: Some plans offer customization options. Choose the desired coverage, premium payment frequency, and other relevant options.

  • Calculate Premium: Policybazaar also provides a premium calculator. Use this tool to calculate the premium amount based on your input.

  • Review Your Selection: Double-check all the details you have entered and ensure they are accurate.

  • Proceed to Purchase: If everything looks good, proceed to the purchase section.

  • Provide Additional Information: You may be asked to provide additional information or documents for verification purposes.

  • Make Payment: Choose your preferred payment method and complete the payment process.

  • Policy Issuance: After successful payment, you will receive a confirmation of your purchase. The policy documents will be sent to you via email or mail, depending on the insurer's procedure.

  • Follow-Up: Keep track of your policy status and ensure that you receive all necessary documents and communications from Bajaj Allianz.

Summing It Up

Bajaj Allianz Pension Plans offer a comprehensive solution for securing a financially stable retirement. With flexible best investment options, attractive returns, and robust features, these plans empower you to plan for a secure future with confidence and peace of mind.

Bajaj Allianz Pension Plans - FAQs

  • What are the benefits of Bajaj Allianz Pension Plans?

    Bajaj Allianz Pension Plans offer features like guaranteed regular income after retirement, death benefits, and various annuity payout options to suit your needs. Some plans even allow a return of the purchase price on death.
  • How much do Bajaj Allianz Pension Plans cost?

    The cost of Bajaj Allianz Pension Plans depends on the plan type, your age, the annuity option chosen, and the amount you invest. You can get quotes online or consult an advisor for personalized estimates.
  • What happens to my Bajaj Allianz Pension Plan if I stop paying premiums?

    If you stop paying premiums on a deferred annuity plan, there might be grace periods or options to revive the policy with late payment charges. However, continued non-payment could lead to policy lapse and loss of benefits.
  • Do Bajaj Allianz Pension Plans offer any investment choices?

    This depends on the plan type. Unit Linked insurance plans (ULIPs) like Bajaj Allianz Life LongLife Goal Plan allow you to choose from various investment funds based on your risk tolerance. Traditional plans, however, typically offer guaranteed returns.
  • How to pay premium? What are the modes of payment available?

    You can pay premium from ANY of these approved methods

    ECS
    NEFT
    Cash/Cheque Payments

  • How can I check policy status for Bajaj Allianz pension plans?

    As a registered user, you must log into Bajaj Allianz website with your valid User Id and password. On the homepage of your e-portal click “Policy Status” to know.
  • What is the policy renewal process for Bajaj Allianz pension plans?

    You can authorize your premium payments online through Bill Junction service, available on the insurer’s website. You need to register yourself at Bill Junction and follow the policy renewal instructions.
  • What is the company’s process to settle claim for Bajaj Allianz pension plans?

    Bajaj Alliance Life Insurance aims to provide faster claims settlement service. You must submit the valid documentation along with suitable claims form and submit it to the nearest branch in you city. Upon receiving the documents and processing it, your claims is settled within 30 days. The claim amount is directly deposietd in your bank account.

    However, if a claim settlement is delayed beyond 30 days, the company pays an 11% interest for every day's delay.
    You may also like to read National Pension Scheme Details

  • What is the policy cancellation process for Bajaj Allianz pension plans?

    Bajaj Alliance Life Insurance policyholders must attach all the relevant policy documents along with a duly filled surrender form at any of the branch locations in their city. The value of their refund will be calculated based on the current NAV value, if the documents are submitted before 3:00 PM, else the next day’s market rates will be applicable.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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Bajaj Allianz Pension Plans Reviews & Ratings

3.9 / 5 (Based on 15 Reviews)
(Showing Newest 10 reviews)
Pritum
Mahuva, August 16, 2016
Pension Policy
My retirement plan is fantastic with more benefits in less investments. The policy is from bajaj allianz life insurance. The policy covers maximum expenditures and premiums are less. Claiming process is easy and fast due to fast service provided by the executives and staff members.
Tanishk
Kolhapur, July 15, 2016
Good Plan
The pension plan which i purchase from bajaj allianz life insurance company limited is fantastic with full coverage. Service facilitate by the company is perfect and hassle free documentation. Claiming is easy with fast service response given by the executives and staff members.
Vaibhav
Delhi, March 01, 2016
Awesome.
I have bajaj allianz pension policy plan which has low premiums and payed thrice a year. Policy coverage and claims are high and the payback amount is around Rs.28 K per month. Service is very good and fast. Nice policy, I like it.
Plan Name: Future Gain
Agent Code: BBE05217
Abhishek
Anand, February 28, 2016
Fine Policy.
I gift pension policy plan to my father from bajaj allianz life insurance. Investment is average but the returns are very attractive i.e., 28K per month after 30 years. Service is quick and the service of the executives are good.
Plan Name: Future Gain
Agent Code: BBE04737
Suryakant
Pune, February 27, 2016
Fine pension plan.
I buy bajaj allianz life insurance pension plan. Plan is above average and the payback amount is 30K every month after policy get mature. Claims are easy to get because the service is fantastic.
Plan Name: Future Gain
Agent Code: BBE04737
T
Delhi, February 26, 2016
Okay pension plan
Policy coverage is 60%, claims are 20 K per month after policy get mature. Premium is 3999 for 30 years. Service is slow and waiting is normal thing. Bajaj allianz life insurance are good in claims.
Plan Name: Future Gain
Agent Code: BBE06895
Praveer
Delhi, February 26, 2016
Average Policy.
I buy bajaj allianz life insurance pension plan. The policy coverage is 60%. Claims are fine according to premiums. Service is okay and main thing is nice investment for future. Just improve your website.
Plan Name: Future Gain
Agent Code: BBE06895
Ratikanta
Bhadrak, February 19, 2016
Best Plan Ever.
I buy pension policy for my parents. My parents are happy with the policy due to low premiums. The returns are high ~Rs.20000 per month. The policy coverage is high and service is rapid and on time.
Plan Name: Future Gain
Agent Code: BBE06895
Naresh
Ahmedabad, February 19, 2016
"Bad Policy Plan"
I have pension plan from bajaj allianz insurance. Policy doesn't work for me. Except policy coverage the rest of the things and stuff are bad. Service is really very slow. Claims take's ages to clear. Not satisfied.
Plan Name: Future Gain
Agent Code: BPW00249
Samarpal
Karnal, February 19, 2016
Low Policy Coverage.
Bajaj allianz life insurance pension plan is introduce by an agent of policybazaar and i took the policy plan. Policy coverage is not that good as i expected. Service is good. Claims are also easily sanction.
Plan Name: Future Gain
Agent Code: BPW00249
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