Bajaj Allianz Life Insurance, on Wednesday, launched a new annuity pension plan called Bajaj Allianz Life Guaranteed Pension Goal, which offers nine annuity options to choose from.
“It is the only life insurance plan that offers a regular premium deferred annuity option that enables policyholders to guarantee their pension amount at the time of retirement by paying regularly over a period of time,” the life insurer said in a statement, adding that it also offers an option for policyholders’ spouse to continue receiving the guaranteed income during his or her lifetime.
Further, a legacy can be left for the nominees by ensuring the Return of Purchase Price (RoP).
“While there are several saving instruments that will help build a retirement corpus, annuity plans are one of the most effective tools to ensure individuals receive an income in a sustained manner through their retired life,” said Tarun Chugh, Managing Director and CEO, Bajaj Allianz Life.