Bajaj Life Smart Pension [116L209V03]
Key Advantage
- Choice of 2 Variants: Classic & Assure
- Waiver of Premium option: Assure Variant ensures policy continues in the event of Life Assured’s Unfortunate death.
- Investment Flexibility: Multiple fund options & unlimited switches
- Choice of Withdrawal of vesting benefit: up to 60% as tax free and 40% to annuity plan
- Market Linked Growth: Market-linked returns to build retirement corpus
- Zero Premium Allocation Charge: For Higher Premium Bands Rs 10 Lakh & Above
- Wide Range of Funds: Multiple fund options to choose based on your risk-reward preference
Eligibility Criteria
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Parameter |
Variant 1 Classic |
Variant 2 Assure |
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Minimum Age at Entry |
18 Years |
18 Years |
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Maximum Age at Entry |
65 Years |
55 Years |
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Minimum Age at Vesting |
45 Years |
45 Years |
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Maximum Age at Vesting |
75 Years |
70 Years |
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Policy Term( Subject to minimum and Maximum Vesting Age) |
10 Years to 57 Years |
11 Years to 52 Years |
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|
Premium Paying Term |
Single Pay Limited Pay: 5 years to (Policy Term minus 1) Regular Pay: Equal to Policy Term |
Limited Pay: 5 years to (Policy Term minus 1) Regular Pay: Equal to Policy Term |
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Premium Frequency & Minimum Premium |
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Maximum Premium |
As per Board Approved Underwriting Policy (BAUP) |
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Who Can Opt This Plan
- Self-Reliant Retirees: Individuals preparing independently for a secure and fulfilling retirement
- Family Protectors: Individuals who want to secure their retirement and ensure their family is financially protected, even in their absence
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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