Bajaj Allianz Life Insurance has launched the Bajaj Allianz Life Smart Pension, a flexible, market-linked pension plan designed to help individuals build a robust retirement corpus. The plan features the newly introduced Bajaj Allianz Life Nifty 200 Alpha 30 Index Pension Fund, which invests in 30 high-alpha stocks selected using Jensen’s Alpha to maximize growth potential. Customers can choose from this fund or five other options, tailoring investments to their risk appetite.
The policy term starts at 10 years with a vesting age beginning as early as 45 years, catering to early retirees. Key benefits include tax-free withdrawal of up to 60% of the corpus at vesting, loyalty bonuses, and a vesting booster after 15 years. Flexibility is enhanced with options to defer vesting dates and unlimited free fund switches. The plan also offers liquidity for critical life events and a death benefit guaranteeing at least 105% of total premiums paid.
In Guwahati, financial advisors note growing interest in market-linked pension plans among the city’s working professionals, driven by increasing awareness of retirement planning beyond traditional provident fund savings. Bajaj Allianz’s innovative approach is seen as timely in catering to this demand, helping urban investors secure steady income post-retirement. Tarun Chugh, MD & CEO, emphasized the need for focused retirement planning in India, saying this product empowers customers to confidently pursue life goals even after retirement.