Bajaj Allianz Life’s annuity plan provides a guaranteed lifelong regular income
By Pinkerala News Desk | Mar 23, 2021
Indians in their post-retirement years are often stressed for finances, especially with the rise in living expenses including health care costs. On the same hand, with life expectancy improving, they not only have a longer life ahead of them but need a substantial retirement corpus to take care of day-to-day expenses, health contingencies, needs of dependents and enough financial aid to meet their post-retirement LifeGoals. Hence, it is crucial to have a robust retirement plan, which ensures a guaranteed life- long income to help individuals meet their post-retirement expenses and enable their family to continue meeting their life goals in their absence.
Financial solutions, such as Bajaj Allianz Life Guaranteed Pension Goal, stand out for meeting post-retirement expenses as it offers guaranteed regular income as long as one is living. This plan locks the annuity amount at the time of buying the policy, and that stays fixed for a lifetime. Thus, Bajaj Allianz Life Guaranteed Pension Goal meets the long-term guaranteed income needs of policyholders and also provides flexibility to choose from nine annuity income options to meet their unique lifestyle goals post-retirement.
Bajaj Allianz Life Guaranteed Pension Goal enables policyholders to opt for immediate regular income through an immediate annuity plan or start the income later through the deferred annuity plan. As the annuity (income) amount is fixed at the beginning of the policy, policyholders are assured of receiving Guaranteed Lifelong Regular Income. Also, they can receive this amount on a yearly/half-yearly/quarterly, or monthly basis. Other benefits of the plan include the Joint Life option, where the policyholder has the option to take joint-life annuity (income) with 50% or 100% annuity (income) payable to the spouse after their death. This ensures their family's finances and life goals are protected even when they’re gone.
Further, the plan comes with the Return of capital (Purchase price) feature, where, regardless of a single life or a joint life cover, the policy offers an option to receive the entire capital back on death. It also comes with an option of return of purchase price upon survival. In both cases, the annuity (income) is payable for life.
There are several additional features and flexibilities built into Bajaj Allianz Life Guaranteed Pension Goals such as the convenience of choosing premium payment terms for a period of 5 to 10 years or to change the Annuity (income) payment frequency, at any policy anniversary and even an option to choose a single premium policy. These comprehensive features make Bajaj Allianz Life Guaranteed Pension Goal one of the preferred annuity plans for getting post-retirement Life Goals, DONE. Customers can purchase this plan both online and offline, through the large network of Bajaj Allianz Life’s Insurance Consultants (Agents) and select bank partners.
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