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– Linked to New Fund Offer, Bajaj Allianz Life Nifty 200 Alpha 30 Index Pension Fund to drive long-term wealth creation
– Vesting age starts as early as 45 years
– Policy-term as low as 10 years to the maximum vesting age
Bengaluru, May 16, 2025: Bajaj Allianz Life Insurance, one of India’s leading private life insurers, has launched Bajaj Allianz Life Smart Pension — a unit-linked, non-participating, individual pension plan that empowers customers to take greater control of their retirement planning. The plan is designed to help build a retirement corpus, which can be used to generate life-long guaranteed income and support life goals during the retired years. It is linked to the newly launched Bajaj Allianz Life Nifty 200 Alpha 30 Index Pension Fund, which offers high growth potential to help individuals plan for a financially secure retirement. Customers can also choose from five other fund options available under this product, based on their risk-reward preferences.
With a policy term starting at just 10 years and vesting age as early as 45 years, the plan offers a host of power-packed features. Here are some of the key highlights:
· It enables customers to withdraw up to 60% of the accumulated corpus tax-free at vesting, rewards long-term investors with loyalty additions and a vesting booster at the end of the 15th policy year.
· Customers also get the flexibility to defer the vesting date based on their retirement goals.
The plan comes with the newly launched Bajaj Allianz Life Nifty 200 Alpha 30 Index Pension Fund, which invests in high-alpha stocks from the Nifty 200 universe. The fund uses Jensen’s Alpha—a measure of performance over and above market expectations, to select 30 stocks with the strongest potential for higher returns. This strategy enables investors to benefit from diversification and market-linked wealth creation within a single retirement-focused solution. Five other fund options are available, allowing customers to align with their risk-reward preferences.
Commenting on the launch, Mr. Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance, said, “Globally, retirees have access to social security as a second income stream whereas most Indians have just the savings from PF. Yet, focused retirement planning is still not a priority for a large segment of the population. Our flexible market-linked pension plan will enable individuals who are seeking greater control over their financial security post-retirement. It allows them to invest for the long term, build a robust retirement corpus, and ensure a steady annuity through their golden years. At Bajaj Allianz Life, we continue to strengthen our retirement solutions portfolio, and this product is yet another step in that direction. It is aimed at meeting the changing needs of our customers, so they can pursue their life goals with confidence, even after retirement.”
Key Features:
1. Potential of Higher Return through Market-Linked Growth – Provides growth opportunities through market-linked returns to build your retirement corpus.
2. Vesting age – Starts as early as 45 years
3. Policy term – Starts from 10 years to the maximum vesting age
4. Wide range of funds – Multiple fund options to choose based on your risk-reward preference.
5. Deferment of Vesting Date – Customers also get the flexibility to defer the vesting date based on their retirement goals.
6. Liquidity – Flexibility to partially withdraw from your retirement corpus in case of major life event or critical illness.
7. Death Benefit – It shall be the Fund Value, subject to a minimum of the 105% of Total Premiums Paid, as on the date of death.
8. Unlimited free switches – Enjoy the flexibility to switch between funds at no additional cost to help you adapt your investment strategy to market conditions.
9. Tax benefits – Tax benefits may be applicable on premiums paid and benefits received as per the prevailing tax laws.
