Bajaj Allianz Life Insurance has unveiled its new pension product, Bajaj Allianz Life Guaranteed Pension Goal II, featuring a first-of-its-kind 30-year deferment option. The non-linked, non-participating annuity plan allows individuals as young as 35 to begin retirement planning with customizable options and lifelong income security.
Announcing the product, MD & CEO Tarun Chugh said, “With life expectancy rising and limited social security options in India, retirement planning is crucial. Our Guaranteed Pension Goal II provides flexibility and certainty, ensuring a steady income stream for life.” The plan offers multiple annuity options, customizable Return of Purchase Price (ROP), and exclusive benefits for NPS subscribers, catering to evolving customer needs.
In Guwahati, the product offers young professionals in the city a viable option for early retirement planning. The financial flexibility and guaranteed income of this plan could appeal to the region’s rising workforce seeking stability and security. A recent study by Bajaj Allianz Life found 77% of Indians prefer life insurance for retirement planning. The insurer’s emphasis on early planning is expected to drive broader awareness and adoption of structured financial solutions nationwide.