Bajaj Allianz Pension Plans – Review, Types, Features, Criteria & more

Investments are accustomed with the idea of returns, and the same applies for the retirement period. Retirement is a period of life when your earnings are brought to a hold, but Bajaj Allianz Pension Plan ensures to keep it going. Worrying for your financial needs at this point of life would become, truly nonexistent.

Worrying shall vanish, and so would the constant need to manage funds. It is all a matter of right and on time planning, which would open doors to a funds source and management. All you need to do is, avail for the Bajaj Allianz Retirement Plans, and you will have access to a great service in no time.

This article would serve as your pages to the book of Bajaj Allianz Retirement Plans. We have all the information required to invest in the Bajaj Allianz National Pension Scheme sorted in this article.

About Bajaj Allianz Pension Plans

Providing high quality and class products, while contributing to the insurance sector is mastered by this firm. You can expect to have the products you want followed by an efficient after sae service.

This company, Bajaj Allianz Life Insurance Company Limited is merger, formed between two great market players, Bajaj Finserv Limited and Allianz SE.

You will find Bajaj Allianz Pension Plan highly structured to perfection, where the price rates are competitive and benefits above par.

With an assurance to provide you huge range of products, this company excelling in the product portfolio it manages. Make sure you check out what the company has in store for you.

Open Demat Account Now! – Get 90% discount on Brokerage

Types of Bajaj Allianz Pension Plans

You have a freedom of choice provided here, as this company offers two Bajaj Allianz Retirement Plans. You can go through the features and benefits, along with the eligibility criteria of the plans and decide the one you want.

We have it all sorted, and the following context is all about the same, providing you a detailed analysis on both Bajaj Allianz National Pension Funds plan. The plans go by the names:

• Retire Rich Plan
• Pension Guarantee

Find out other NPS Scheme in India

Bajaj Allianz Retire Rich Plan – By Bajaj Allianz NSP

This Bajaj Allianz National Pension Scheme is a linked plan, and the returns guaranteed are market related. Here are the features and benefits you will find from the plan, all of which are oriented towards the fulfilment of your needs.

• The holder of this Bajaj Allianz NPS can avail from 3 types of payment options. First being regular pay option, where the premium has to be provided for entire term. Second option is of limited term, where the payment is made for a limited term. Lastly, the holders can also choose to pay in lump sum through the single pay option.
• Premiums provided are invested into the pension builder Bajaj Allianz National Pension Funds.
• When the plan matures, the holder will be paid either the fund amount, or 101% of the premium paid.
• The money therefore earned upon maturity, can be claimed from among a number of ways. First option is to withdraw 1/3^rd and avail rest in annuity. Also, a single premium deferred annuity can also be claimed for. Plus, the maturity or in other words the vesting period can also be postponed if the holder is below the age of 55 years.

More Features of Bajaj Allianz NPS

• During unfortunate death event before maturity, funds or 105% of paid premiums will be paid to the nominee. The choice of withdrawal or annuity payments will as well be provided to the nominee.
• For the plan term of 11 to 30 years, additional benefits apply. Loyalty shall be provided in addition in percentage of premiums paid yearly or single payment, which are then commuted for and added to fund value.
• Top ups availing is as well provided, which has the potential of increasing fund value. The minimum value of the top ups however is Rs.5000.
• The term and frequency in payments are subject to change anytime, as availed by the holder.
• No tax will be accounted for premium, pension, and also the death benefits. The sections imposed are 80CCC, 10(10A), 10(10D).

Eligibility Criteria for Bajaj Allianz Retire Rich Plan

• Age criteria: 30 to 73 years
• Vesting age: 37 – 80 years.
• Policy Period: 7 to 30 years
• Premium to be paid per year: Rs.15,000 for the regular premium and Rs.50,000 for the Single Pay. While, there is no limit to the maximum amount.
• Return guaranteed: Rs.204,841 with maximum limit various upon criteria’s of term, age and premium
• Payment term: Similar to the policy term, or 5 years on the contrary.
• Intervals of premium payments allowed: half yearly, monthly, quarterly or even annually.

Bajaj Allianz Pension Guarantee – By Bajaj Allianz Pension Plans

If you find the above plan not compatible, the company has another choice of a traditional plan you can avail for.

Even if you find the above Bajaj Allianz Pension Plan beneficial, running over this plan’s features will give you clarity. For either of the cases, we have provided a pretty well defined explanation in bullet points.

• This Bajaj Allianz NPS plan’s nature is of an immediate annuity plan, so the payment of annuity will roll out without any delay.
• This Bajaj Allianz NPS Scheme provides you the option of single life or even a joint life.
• Purchase being higher, will result to higher annuity payouts
• Taxation exemption is levied on premium amount paid, on account of the Section 80CCC
• Bajaj Allianz NPS Scheme is provided in context of 6 different options, as provided below.
• A option – Lifetime annuity
• B option – Lifetime Annuity alongside payback of price of purchase
• C option – guaranteed payouts of annuity for 5/10/15 or 20 years, following for life.
• D option – Annuity for entre life, alongside payback of price of purchase to the survivor.
• E option – Joint life last survivor along with 50% annuity to the spouse
• F option – Joint life last survivor along with 100% annuity to the spouse

Eligibility Criteria for Bajaj Allianz Pension Guarantee

• Age criteria: Option B goes for 0 years, whereas other options go for 37 years. The maximum age is 100 years for Option B and 80 years for other options.
• Price of purchase: Rs.25,000 with no maximum limit
• Policy Period: 7 to 30 years
• Return guaranteed annually: Rs.1000 with no maximum limit
• Intervals of premium payments allowed: half yearly, quarterly, monthly or even annually.

Check out more Pension Plans available for Investment

Bajaj Allianz Pension Plans / Retirement Plans – Conclusion

The possibility of getting things right in retirement age is facilitated by the Bajaj Allianz Pension Plan. If you find both of the plans appealing, we urge you to go for the plan which best suits you.

We would also add up to the process in which you can apply for one of Bajaj Allianz Pension Plans. There are two mediums of application for the Bajaj Allianz NPS, offline and also through the intermediary.

You will have to go to the official website of the company in order to go for the online procedure. On the contrary, intermediaries are agents, brokers, banks and other, so get in contact with the one you can easily locate.

Open Demat Account Now! – Get 90% discount on Brokerage

Most Read Articles