Bajaj Allianz Life Insurance, a leading private life insurer in India, has introduced the Smart Pension plan, a super flexible, unit-linked pension product designed to boost long-term wealth creation for retirement. Anchored by the newly launched Bajaj Allianz Life Nifty 200 Alpha 30 Index Pension Fund, the plan offers exposure to 30 high-alpha stocks selected using Jensen’s Alpha, promising potential market-beating returns. Customers can also select from five other fund options based on their risk preference.
The plan offers policy terms starting from 10 years with a vesting age as early as 45 years, appealing to early retirement planners. Key features include tax-free withdrawals up to 60% of the accumulated corpus at vesting, loyalty additions, a vesting booster after 15 years, and flexibility to defer vesting. The product also allows unlimited free fund switches, partial withdrawals for critical illnesses, and provides a death benefit ensuring a minimum of 105% of premiums paid.
In Guwahati, financial experts report rising awareness among urban professionals about the need for diversified retirement solutions beyond traditional provident funds. Bajaj Allianz’s Smart Pension plan is well-positioned to tap into this demand, providing Guwahati’s workforce with a tailored, market-linked solution to secure financial independence post-retirement. Tarun Chugh, MD & CEO of Bajaj Allianz Life, highlighted the product’s role in enabling individuals to build a steady retirement income with control and confidence.
