Bajaj Life Guaranteed Pension [116N187V07]
Key Advantage
- Lifelong Guaranteed Income: Receive a steady income for life
- Return of Purchase Price (ROP): Option to choose with or without ROP during Income Period.
- Planning Early: Start securing your future from age 35 (for deferred annuity)
- Flexible Premium Payment Terms: Choose from 1 to 12 years, tailored to your financial plan
- Joint Life Option: Secure Income for you and your spouse with legacy for your family
- No Medicals, Quick Issuance
- Flexible Income: Increase income by reducing death benefit (choose 50% to 100% ROP)
Eligibility Criteria
| Age at entry |
|
|
Minimum |
Maximum |
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|---|---|---|---|---|---|---|---|
|
Entry Age (applicable for single & joint lives both) |
Single Pay (immediate / Deferred) |
30 Years |
>SP (immediate annuity) - 85 Years > SP (Deferred annuity) - 84 Years ( subject to annuity starting at 85 years) |
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|
Limited Pay/Regular Pay |
35 Years |
75 Years ( Subject to annuity starting at 80 years) |
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|
Annuity Amount( Rs) |
Immediate /Deferred |
|
Yearly |
Half Yearly |
Quarterly |
Monthly |
|
|
Minimum |
12000 |
6000 |
3000 |
1000 |
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|
Maximum |
No limit |
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|
Purchase Price |
Immediate /Deferred |
As per prevailing Board approved underwriting policy |
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|
Modes of Premium Payment |
Only for Deferred annuity regular pay |
Yearly, Half Yearly, Quarterly, Monthly |
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|
Deferment Period |
Deferred Annuity Single Premium |
1 Year |
For options A , B, E and F- 30 Years, For options G & H -10 years |
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|
Deferred Annuity Limited /Regular Premium |
For PPT 2,3,4: 5 Years, For PPT 5 to 12: As per PPT Chosen |
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|
Premium Paying Term |
Single Pay (immediate / Deferred) |
Single Premium |
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|
Regular Pay ( Deferred Annuity) |
2 Year |
12 Years* |
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*As per the conditions
Who Can Opt This Plan
- Salaried Individuals: Guaranteed Income for Retirement Security
- Business Owners/ Self-employed/ Professionals: Secured Financial Stability with Guaranteed Income
- NRIs: Secure Guaranteed Income Base in India
Disclaimer
The Federal Bank Limited is a Corporate Agent having registration number - Regn. No. CA0227. The service provided by The Federal Bank Limited is purely an agency service and is carried out strictly on a non-risk participation basis. The Federal Bank Limited, as corporate agent does not underwrite the risk or act as an insurer. Participation by the Federal Bank’s customers in the insurance product is purely on a voluntary basis and is not linked to the availment of any other facility from the Federal Bank Limited.
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