• Bajaj Allianz Pension Guarantee Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Overview

    Bajaj Allianz Pension Guarantee is a plan in which you can get an income for life. It gives you and your life partner a steady income even after your retirement. You have a choice to decide the options for annuity wherein you can save now and enjoy a stress-free retired life later.

    The Options for Annuity You Can Choose From Are:

    1. Option A - This is a lifetime option, wherein the policyholder will receive an annuity as long as he/she is alive.
    2. Option B - With this option you can get lifetime annuity as well as return purchase price, this purchase price is returned on the death of the policyholder
    3. Option C - Under this option annuity is paid for a chosen period of 5, 10, 15, or 20 years and post that the annuity will be paid to the policyholder and post the death of the policyholder will be paid to the nominee.
    4. Option D - The Joint Life Last Survivor option with this option you will get an annuity of 50% of the amount the policyholder and the other 50% will be paid to your spouse. Both the policyholder and his/her partner are covered. And on the death of the policyholder the 50% prevailing will still be paid until he/she is alive.
    5. Option E - The Joint Life Last Survivor and Return of Purchase Price on death of Last Survivor in this option both the policyholder and her/his spouse are covered, the annuity is paid to them until at least one of them is alive. On the death of the last survivor the nominee will receive the Return of Purchase Price.
    6. Option F - Joint Life Last Survivor with 100% of annuity to spouse under this option both policyholder as well his/her spouse is covered, and a 100% of the annuity amount will be paid to the last survivor among the policyholder or spouse.

    The Eligibility Conditions for a Bajaj Allianz Pension Guarantee Plan

    Particulars

    Minimum

    Maximum

    Entry Age

    0 years is the minimum age for Option B

    37 years is the minimum age for Option D, E and F

    And the general minimum age for this policy is 37 years

    80 years is the maximum age for Option D, E and F

    100 years is the maximum age for Option B

    And the general maximum age for this policy is 80 years

    The Key Features of The Bajaj Allianz Pension Guarantee Plan:

    1. This is an individual plan, that is non-linked, non-par immediate annuity plan.
    2. The minimum purchase price should be an amount of Rs. 25,000. There’s no maximum limit for the maximum purchase price.
    3. The coverage in this plan is based on the options chosen by the policyholder at the time of inception.
    4. The minimum purchase price should be Rs. 25, 000. You will need to pay the amount in a lump sum to Bajaj Allianz the annuity will be paid to you after the expiry of the purchase price option chosen by you. This can be monthly, quarterly, half-yearly or yearly.
    5. The annuity payout will be as chosen by you and the payout will work based on the options chosen as well.
    6. This plan has a Free-look period of 15 days from the date of the receipt of the policy and a 30 day period in cases of distance marketing.
    7. With this policy you get a grace period 30 days if the premium frequency is made annually, semi-annually, quarterly, and in case of a monthly premium being paid the grace paid is grace period of 15 days.

    The Key Advantages of This Plan:

    1. As per the Income Tax Act of 1961 the policyholder will receive tax benefits.
    2. Death Benefit - Only on Option E has an option to provide a death benefit to a nominee.
    3. There is no Maturity Benefit since this is a pension plan.
    4. Return of purchase price - Annuity is payable to the policyholder as long as he/she is alive and if any remaining capital is available, it would be returned to the nominee on the death the policyholder.

    How Does This Plan Work?

    The only thing you need to do is to pay a lump sum amount to Bajaj Allianz Life, the pension or annuity will be paid out as soon as the expiry of the payment mode you have chosen. The mode can be a month, a quarter, a half-year or a year from the date of purchase. Based on the options you’ve chosen the pension payouts will happen, all options have an annuity amount paid for life, so the pension will continue on providing you a stress-free retirement.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    Bajaj Allianz Pension Guarantee Plan Reviews

  • Page 1 of 17 1 2 3 4 5
    • Bajaj Allianz Life Life Insurance
      "Excellent Policy"
      0.5 5.0/5 "Blown Away!"
      Got a Bajaj Allianz Life insurance policy around 4 years ago. The policy tenure 18 years with a premium amount of Rs. 12,000 in a year. The customer support is very responsive, and I loved their support every time. The plan benefit is excellent and most of the services can be availed online(https://www.bajajallianzlife.com).
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 18, 2018
    • Bajaj Allianz Life Life Insurance
      "Satisfied"
      0.5 3.5/5 "Pretty good"
      I have a Bajaj Allianz life insurance from more than 10 years and it is a long term policy. There are not much branches of Bajaj. I am happy with the coverage and returns of this insurance policy. I pay my premium once in a year and i am convenient with the payment options. I have taken this policy mainly for tax savings.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 23, 2018
    • Bajaj Allianz Life Life Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      The main issue with the Life Insurance policy from Bajaj is that I've been receiving n number of fake calls. I never had any issues pertaining to this policy. I pay the premium either via check or online. Overall Their service is not as good as I expected.
      Was this review helpful? 0
      , pune
      Reviewed on May 11, 2018
    • Bajaj Allianz Life Life Insurance
      "GOOD POLICY"
      0.5 5.0/5 "Blown Away!"
      I took this policy mainly because of the good returns, its long tenure process , the payment can be done through easy monthly ecs . The best about the policy is claim rate is high compared to other policy available in the market. There customer service and customer response is good .
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 30, 2018
    • Bajaj Allianz Life Life Insurance
      "Life insurance with BAJAJ"
      0.5 4.0/5 "Great!"
      I have taken a life insurance from BAJAJ ALLIANZ and the policy premium is 30000 annually. This is an investment come insurance policy so i will get some interest from mutual funds. We have to pay the premium for 5 years. The customer service and response with the card is fine.
      Was this review helpful? 0
      , thane
      Reviewed on Apr 27, 2018
    • Bajaj Allianz Life Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I have four policy's with Bajaj Allianz Life Insurance service. Tenure period is good with Bajaj Allianz Life Insurance service. The payments options are through online. It was an good experience with Bajaj Allianz Life Insurance service.
      Was this review helpful? 0
      , thane
      Reviewed on Apr 25, 2018
    • Bajaj Allianz Life Life Insurance
      "Worst company to buy insurance from"
      0.5 1.0/5 "Really Bad"
      I had bought Super Saver policy which is Super Loser policy. Instead of giving returns, it actually eats up all your money. Agents mislead you that the policy can be withdrawn at early stage of 3 or 5 years. But actual term is 15 years or so. Absolutely rubbish plan. Customer support is pathetic an unhelpful. No knowledge about the product as well.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 31, 2018
    • Bajaj Allianz Life Life Insurance
      "Average Policy"
      0.5 3.0/5 "Satisfactory"
      I hold a my life insurance with Bajaj Allianz from last 15 years and it is a long term policy. The tenure of this policy is 10 years. I have to pay a premium for 4-5 years and for remaining years the company will pay. It is an average policy, i am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 29, 2018
    • Bajaj Allianz Life Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance policy with LIC from last 7-8 years and it is a term insurance. The tenure of this life insurance policy is 20 years. I pay my premium on monthly basis through ECS and i am convenient with the payment options which they are giving. I am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 27, 2018
    • Bajaj Allianz Life Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I got the Life insurance policy from the BAJAJ ALLIANZ LIFE INSURANCE Company. I have got this policy around a year ago. The customer support service is good with the BAJAJ ALLIANZ LIFE INSURANCE company. This policy has the tenure of life time and I have paid Rs,12,000 to this policy .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 14, 2018
    • Bajaj Allianz Life Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I got the Life insurance policy from the BAJAJ ALLIANZ LIFE INSURANCE Company. I have got this policy around a year ago. The customer support service is good with the BAJAJ ALLIANZ LIFE INSURANCE company. This policy has the tenure of life time and I have paid Rs,12,000 to this policy .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 14, 2018
    • Bajaj Allianz Life Life Insurance
      "better experience"
      0.5 4.0/5 "Great!"
      I had applied and got a life insurance policy from the famous private sector insurance company BAJAJ ALLIANZ LIFE INSURANCE. Most of all benefits are covered under one policy. I feel that there are no benefits to renew my health policy so I withdrawn my health policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 03, 2018
    • Bajaj Allianz Life Life Insurance
      "Better "
      0.5 3.0/5 "Satisfactory"
      I have taken the life insurance policy with the Bajaj allianz life insurance company. The premium amount is nominal one for me and the coverage value is reasonable one for me with them. Every aspects are better one with the Bajaj allianz life insurance company.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 03, 2018
    • Bajaj Allianz Life Life Insurance
      "Very Good Investment"
      0.5 4.0/5 "Great!"
      This is absolutely a delight to have this Insurance. I took it last November. Their return is around 9.5%. I have been paying Rs.50000 as an annual premium for it. I just need to pay for 6 years and after that it has a 6 years locking period after which I can take out a good return out of it.
      Was this review helpful? 0
      , lucknow
      Reviewed on Mar 02, 2018
    • Bajaj Allianz Life Life Insurance
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      Bajaj Life insurance service is good. I have taken one policy with Bajaj for the period of 15 years. The payments are generally through online and the new schemes and offers they provide is good,it is totally a good experience with Bajaj Life insurance service.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Mar 02, 2018
    • Bajaj Allianz Life Life Insurance
      "Good policy to use"
      0.5 3.5/5 "Pretty good"
      I have a life insurance policy with Bajaj Allianz from last 5 years and it is a short term policy. This policy has a tenure period of 2 years and my premium amount gets auto deducted from the salary account. I am convenient with the payment options which they are giving. I am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 27, 2018
    • Bajaj Allianz Life Life Insurance
      "Okay"
      0.5 2.5/5 "Just OK"
      I am having the life insurance policy with the Bajaj allianz life insurance company. I would like to say that the customer service is good one and the coverage value too. Every aspects are not yet experienced with the Bajaj allianz life insurance company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 26, 2018
    • Bajaj Allianz Life Life Insurance
      "Good policy"
      0.5 4.5/5 "Excellent!"
      Recently I took a life insurance with Bajaj Allianz. It was taken through an agent. The representative was very kind and helpful. It is good and secured policy. I paid 25K yearly for this insurance. I made the payment through cheque. The total tenure period is 7 years.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 08, 2018
    • Bajaj Allianz Life Life Insurance
      "Good Products"
      0.5 5.0/5 "Blown Away!"
      Bajaj Finserv issued insurance for the loan products, its a life insurance cum accidental cover from Bajaj Allianz company. They have taken one time premium around Rs. 3100 for the tenure of six years. They are providing critical illness, accidental care as well. I got the policy copy on time, I am satisfied about it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 06, 2018
    • Bajaj Allianz Life Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I hold a life insurance policy with Bajaj Insurance from last 5 years and it is one of the good insurance policy to use. The tenure of this life insurance policy is 15 years and it is long term policy. I pay my premium on monthly basis and the payment options are convenient for me. The coverage and benefits are also good in this policy.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Feb 01, 2018
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