Bajaj Allianz Group Annuity Plan and Policy

Bajaj Allianz Group Annuity Plan and Policy - A traditional non linked plan with annuity options that help secure a desired post retirement lifestyle for the members of the group. The annuity options allow for a smooth post retirement scenario for the registered members. The annuitant also has an option to provide for a nominee in the case of his/her untimely death. This is a single premium paying plan meant for having a pension scheme in the form of an annuity from Bajaj Allianz.

Key Features - Bajaj Allianz Group Annuity Plan and Policy:

Parameters	Details
Plan Type	Traditional non linked annuity plan
Basis	Individual life and joint life
Policy Term	Minimum of 5 years and can go up to covering the whole life
Policy Validity	Will be for the chosen policy term subject to conditions unless surrendered
Assured Annuity	Could be a minimum of Rs. 1000 per month, Rs. 2000 quarterly, Rs. 3500 half-yearly or Rs. 5,000 annually and has no maximum limit. The assured annuity on chosen frequency will depend on the purchase price and the prevailing annuity rates at the time of availing the policy and annuity payment will start post the first year after availing the annuity plan from Bajaj Allianz
Annuity Payment	Frequency	Annuity Instalment (modal factor)
	Annual	1
	Half-yearly	0.49
	Quarterly	0.242
	Monthly	0.08
Annuity Options	Single Life Annuity Options	Joint Life (Two Lives) Annuity Options
	Lifetime Annuity (LA)	Joint Life, Last Survivor with 100% annuity to the spouse
	Lifetime Annuity with Return of Purchase Price (LARPP)	Joint Life, Last Survivor with 50% annuity to the spouse
	Annuity Certain (AC)	Joint Life, Last Survivor Annuity with Return of Purchase Price
Coverage	Annuity Benefit = Assured annuity amount paid in the frequency agreed upon by the annuitant
	Death Benefit = Depends on the annuity option chosen
Free look Period	30 days in case of online purchase. 15 days otherwise
Grace Period	Since it is a single pay plan, grace period is not applicable
Nomination and Assignment	Nomination facility is available

Eligibility Details - Bajaj Allianz Group Annuity Plan and Policy:

The plan could be of a tenure as low as 5 years and as high as the whole life of the annuitant and as per those, the eligibility conditions for availing this policy can be depicted in the table mentioned below -

Parameter	Minimum	Maximum
Policy Term	10 years	Whole Life
Entry Age	40 years	70 years
Maturity Age	N/A	Whole Life

Benefits - Bajaj Allianz Group Annuity Plan and Policy:

This plan from Bajaj Allianz life allows a single premium payment to create a pension plan scheme through an annuity option that helps support lifestyle during retirement. Life insurance cover through the annuity options provided by this policy throughout the policy term is an added benefit. The key advantages in opting for this plan can be mentioned in the following points -

1. Life cover is present throughout the policy term under selective annuity options
2. Wide range of annuity options
3. Option of annuity as long as annuitant of partner is alive
4. Flexible option of receiving annuity in monthly, quarterly, half-yearly or yearly frequencies
5. Higher annuity values on larger purchase prices
6. Return of Purchase Price option

A plethora of annuity options offer multiple benefits to the annuitant and these options can be outlined as below -

Single Life Annuity Options

Joint Life Annuity Options

1. Joint Life, Last Survivor with 100% annuity to spouse - Annuity payable in arrears uniformly as long member is alive and will be receivable by the nominated spouse post the member’s death.
2. Joint Life, Last Survivor with 50% annuity to spouse - Annuity payable in arrears uniformly as long member is alive and 50% of the annuity amount will be receivable by the nominated spouse post the member’s death.
3. Joint Life, Last Survivor Annuity with Return of Purchase Price - Annuity payable in arrears uniformly as long member is alive and post the death of the member, purchase price is returned to the nominated spouse.

Bajaj Allianz Term Life Insurance Plans and Policy
Bajaj Allianz Life Jan Suraksha Yojana Plan	Bajaj Allianz Life Pradhan Mantri Jeevan Jyoti Bima Yojana Plan
Bajaj Allianz Group Income Protection Plan	Bajaj Allianz Life Group Term Life Plan
Bajaj Allianz Group Employee Care Plan	Bajaj Allianz Group Employee Benefit Plan
Bajaj Allianz Group Term Care Plan	Bajaj Allianz Group Superannuation Secure Plan
Bajaj Allianz Group Annuity Plan	Bajaj Allianz Group Credit Protection Plus Plan