Bajaj Allianz Life Guaranteed Pension Goal II (116N187V04)
Features
- Guaranteed income throughout life: Your annuity amount is guaranteed at policy inception and is paid regularly as per your choice and need (Yearly/ Half-yearly/Quarterly/Monthly).
- Choose When Your Second Innings Starts: Annuity starts immediately or after a few years (from policy inception) as per your choice and need.
- Return Of Cost (Purchase Price): Option to receive Return of Purchase Price (ROP) on death or as Survival Benefit.
- Ensure Your Family's Lifestyle Goals Are Met Even When You Are Not Around: Option to take Joint life annuity with 50% or 100% annuity payable to your spouse after your death.
- Option To Take A % Of Return of Purchase Price: Option to choose 50% to 100% Return of Purchase Price payable on death.
- Wide Range Of Annuity Options: Choose from a wide range of Annuity options to meet your Lifestyle goals.
Eligibility Criteria
|
Parameter |
Annuity Type |
Minimum |
Maximum |
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|
Entry Age (applicable for Single & Joint lives) |
Immediate |
30 years |
85 years |
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|
Deferred |
35 years |
84 years subject to Annuity starting at a maximum age of 85 years |
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Annuity Amount |
Immediate/ Deferred |
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. |
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Minimum And Maximum Premium |
As per minimum/maximum Annuity instalment As per prevailing Board Approved Underwriting Policy |
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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). |
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|
Deferment Period (applicable only for Deferred Annuity) |
Single Premium |
1 year |
For options A, B , E and F - 30 years. For options G and H - 10 years |
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Regular/Limited Premium |
PPT Chosen |
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Premium Paying Term (PPT) |
Single Premium (Immediate/ Deferred Annuity) |
Single Premium |
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Regular/ Limited Premium (Deferred Annuity) |
5 years |
12 years |
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Minimum Group Size |
5 members |
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The Purchase Price is the single Premium, or the sum of all regular/limited Premiums paid (including in a paid-up policy); excluding any GST/any other tax as may be applicable from time to time. Purchase price is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws if any If a life assured (Annuitant) or nominee/legal heirs under a deferred pension Policy with BALIC uses the proceeds from that Policy to purchase this Policy, then, the entry ages will not apply. If this product is purchased as QROPS through transfer of UK tax relieved assets, the minimum entry age for payment of annuity will be governed by the rules defined by HMRC from time to time.
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Disclaimer
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 Guaranteed Pension Goal II.
“The Federal Bank Limited is a Corporate Agent having registration number - Regn. No. CA0227. The service provided by The Federal Bank Limited is purely an agency service and is carried out strictly on a non-risk participation basis. The Federal Bank Limited, as corporate agent does not underwrite the risk or act as an insurer. Participation by the Federal Bank’s customers in the insurance product is purely on a voluntary basis and is not linked to the availment of any other facility from the Federal Bank Limited.”