Bajaj Allianz is a joint venture between Bajaj Finserv Limited and Allianz SE where Bajaj owns 76% of the company and Allianz SE owns the remaining 24%. It has, as its channel partners, Global Fin sold Pvt Ltd and Dhan Lakshmi Bank. The company has been operating in the insurance sector since 2001 and built up a huge customer base whom they have served impeccably.
Among the many insurance products on offer from the company are its retirement plans which are designed to help you retire in peace. In most cases, the very thought of retirement could scare people because retirement would mean loss of a regular income but with these plans, those worries can be laid to rest.
Bajaj Allianz Retirement Plans
This is a plan that provides policyholders with the assurance of an income even after retirement.
- The plan provides cover till the age of 100 years.
- The death benefits of the plan are 300% of the sum assured.
- The plan comes with premium paying terms that range from 10 to 20 years.
When it comes to retiring, most people are scared about losing their source of income. As the name suggests, this plan is meant to help policyholders retire in peace.
- The plan comes 6 variants that policyholders can choose from, based on their needs.
- The annuity offered by the plan can be taken for a period ranging from 5 years to 20 years or more.
- The plan also offers cover for the policy holder and their spouse.
Once you retire, the loss of a regular income could mean that you will need to change your lifestyle. To protect against that Bajaj Allianz offers the Retire Rich plan which is meant to ensure that your lifestyle remains the same even after retirement.
- The plan offers guaranteed vested and death benefits.
- The premiums can be paid as a lump sum, for a limited period of time or throughout the term of the policy.
- The policy also offers policyholders the option to change the premium paying term at any time they want.
Subhash works hard and earns a good salary that allows him to pursue his passion of travelling. He plans to travel even when he retires but when he does retire, he realizes that his savings are not sufficient to support his passion. If Subhash had invested in a retirement plans, he could have gone on living life, doing what he loved doing.
Why Buy from Bajaj Allianz
Being one of the prominent insurance providers in the market the company has no shortage of policies to choose from.
Bajaj Allianz is also known for having honored over 90% of the claims submitted to them. The company offers detailed information about each plan so that customers can do their research in peace before they apply.
Tips for Bajaj Allianz Retirement Plans
The best tip that can be offered about retirement plans is that since Bajaj Allianz has so many retirement plans to choose from, it would be best if you took your time to read through them, understand them and then make a choice on what to buy.
Other Bajaj Allianz Life Insurance Plans
GST of 18% is applicable on life insurance effective from the 1st of July, 2017