An immediate annuity plan that pays benefit
to even the last survivor after spouse
Option for up to 100 % annuity to spouse
Minimum purchase price is as low as Rs.
25,000
Bajaj Allianz Life
Insurance has launched a non-linked immediate annuity plan called Pension
Guarantee. Apart from providing a guaranteed income for one’s lifetime, this
immediate annuity plan has the options to extend annuity (pension) to the
spouse too.
Given the trend of
increasing life expectancy, Pension Guarantee may well be one of the best
immediate annuity plans to help you with a worry free post retirement life.
While the minimum
entry age for the policy is set at 37 years, maximum eligible age is 80 years.
Available in six options, the plan gives
provisions for payment of annuity to the spouse of the annuitant after his
demise (either 50% or 100% annuity depending on the Joint Life Last Survivor
options chosen).
This plan also offers
annuity with an option of return of purchase price in case of the death of
annuitant. Under this option, the
outstanding annuity is paid to the legal heir after the death of the nominated
spouse.
Mr. Rituraj
Bhattacharya, Head, Product Development, Bajaj Allianz Life Insurance, said: “Considering
the increasing life expectancy among Indians, the Pension Guarantee plan offers
options that extend benefit of annuity not only for one’s lifetime but also
spouse. The option of annuity with return of purchase price can be effectively
used for passing inheritance to one’s legal heir.”
About Pension
Guarantee..
Pension Guarantee is
an immediate annuity plan with guaranteed pension income for longer life and
gives six different options including flexibilities for return of purchase
price.
Key features..
First three options assure payment of
annuity as long as the annuitant is alive; annuity to the annuitant till he
alive and return of purchase price after his death; and annuity payment for the
certain chosen period (5, 10, 15 or 20 years) to the annuitant and to the
nominee when he is not alive. As per the third option, annuitant will continue
to get annuity if the person is alive after the pre-set period.
The three Joint Life Last Survivor
categories have options for pension to the annuitant and after he dies to the
nominated spouse; annuity till the death of the last survivor out of the joint
lives covered and post the last survivor’s death return of purchase price to
the beneficiary; and lifelong annuity for the annuitant and 100 % annuity for the
spouse after his death.
The policy, however, does not have the
provision for a loan.
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 nearly 950 towns and cities 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
Santosh Balan: +91 98
600 97056
Chandni Arora: +91 99
520 55013
Ayan Pramanik: +91 97
302 40099
D.G.JAISHANKAR
ADFACTORS PR
94440-36340
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