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Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance Launches Deferred Pension Plan Retire Rich

Nov 28, 2014   18:29 IST 
New Delhi, Delhi, India

- Helps in building retirement corpus through equity participation

- Provides option of receiving 1/3rd of vesting benefit as a lump-sum

- Loyalty Additions on vesting date

 

Bajaj Allianz Life Insurance announces the launch of Retire Rich, a non-participating individual unit-linked deferred pension plan with regular or single and limited premium options.

 

Keeping pace with the increasing life expectancy, Retire Rich has an increased maximum age limit at entry to help one live a worry-free post retirement life. 

 

While the minimum entry age for the policy is set at 30 years, the maximum entry age has been capped at 73 years. The plan offers one fund option, the Pension Builder Fund which provides capital appreciation by investing in a suitable mix of debt and equities. On surviving till the vesting date, the fund value will be available as vesting benefit. The vesting benefit shall not be less than the Guaranteed Vesting Benefit of 101% of the total premiums paid.

 

Key Benefits of Bajaj Allianz Retire Rich:

· Guaranteed Vesting Benefit and Guaranteed Death Benefit

· Option to select regular, limited or single premium payment

· Option to change the premium payment term for regular/ limited premium option

· Flexibility to pay top-up premium

 

This plan also offers death benefit of higher of the total Fund Value or Guaranteed Death Benefit of 105% of the total premiums paid.

 

The product has a one-of-a-kind feature whereby the nominee can utilize the death benefit either by taking the entire death benefit as cash lump-sum or by using the entire or part of the death benefit proceeds to purchase an annuity from the Company at the then prevailing annuity rates.

 

Anuj Agarwal, MD & CEO, Bajaj Allianz Life Insurance, said: “In India, there has been a substantial change in retirement trends and an increase in life expectancy. Retire Rich has been launched to address a strong need for retirement planning by building an adequate corpus to sustain an individual’s desired lifestyle after working years. This plan is best suited for customers looking for secure and stable returns over a long term horizon of 10-40 years. With this product, we have a well-rounded portfolio of pension products catering to the diverse needs of customers.”


About Bajaj Allianz Life Insurance:

Bajaj Allianz Life Insurance is a joint venture between Allianz SE, the world’s leading insurer, and Bajaj Finserv Limited. Allianz SE is a leading insurance conglomerate globally and one of the largest asset managers in the world. Bajaj Allianz Life Insurance is one of the leading private life insurance companies in India. The Company has developed insurance solutions that cater to every segment and age-income profiles. Currently, Bajaj Allianz Life Insurance has a strong product portfolio with adequate flexible products to cater to all kinds of customer needs from ULIPs to Child plans, from group insurance to health insurance. The Company began its operations in 2001 and today has a pan-India presence with 759 branches in India. Bajaj Allianz Life Insurance has been constantly expanding its operations to be close to their customers.

 

For Further Information:-

Bajaj Allianz Life Insurance

Ayan Pramanik: +91 97302 40099

[email protected]

Chitra Krishnan: +91 99675 95142

[email protected]

 

Adfactors PR

Snigdha Nair:  +91 99204 81191

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Kamalprit Singh: +91 88791 51110

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