Bajaj Allianz Life Guaranteed Pension Goal II

At a Glance

Retire Early with Guaranteed­¹ Lifelong Income

With the advent of technology, our lifestyle goals have upgraded. Today we use gadgets, appliances and services which were not there 2-3 decades ago. Who knows what is in store for us in the next 2-3 decades? We need to stay financially prepared so that our lifestyle goals are not compromised in the second innings of life retirement.

Presenting Bajaj Allianz Life Guaranteed Pension Goal II which assures your Lifestyle goals by giving guaranteed¹ income throughout life as per your choice and need

Key Features

GUARANTEED¹ INCOME THROUGHOUT LIFE:

Your annuity amount is guaranteed¹ at policy inception and is paid regularly as per your choice and need (Yearly/ Half yearly/Quarterly/Monthly)

CHOOSE WHEN YOUR SECOND INNINGS STARTS:

Annuity starts immediately or after a few years (from policy inception) as per your choice and need

OPTION TO TAKE A % OF RETURN OF PURCHASE PRICE²:

Option to choose 50% to 100% Return of Purchase Price² payable on death

RETURN OF COST (PURCHASE PRICE²):

Option to receive Return of Purchase Price² (ROP) on death or as Survival Benefit

WIDE RANGE OF ANNUITY OPTIONS*:

Choose from a wide range of Annuity options* to meet your Lifestyle goals

Annuity Options

You can choose from any of the following Annuity options* at inception.

• Immediate Annuity: Pay a lump sum and the Annuity pay-out will be payable in arrears from the inception of policy, as early as next month, depending up on the Annuity frequency option chosen by you at inception.
• Deferred Annuity: Pay a lump sum or regular/ limited Premium and Annuity pay-out will be payable in arrears from the end of deferment period, chosen by you at inception.

IMMEDIATE ANNUITY

Let us look at the benefits available under Immediate Annuity options*. In these options, Annuity will be payable to you on each Annuity instalment date according to the Annuity payment frequency opted by you at the inception of the policy.

1. Option A: Life Annuity: Annuity will be payable to you throughout life.
2. Option B: Life Annuity with Return of Purchase Price² (ROP) on death: Annuity will be payable to you throughout life and on death X% of the Purchase price² will be returned to your nominee. The proportion (X%) of the Purchase Price² given as ROP can range from 50% to 100% (both inclusive), as chosen by the

policyholder at inception. The proportion, once chosen, cannot be changed during the term of the policy.

3. Option C: Annuity certain and life thereafter: Annuity will be payable to you for a guaranteed¹ period of 5, 10, 15 or 20 years, as chosen by you at inception; or throughout life, whichever is later. On death during the Annuity-Certain Period, the remaining Annuity instalments will be paid to your nominee till the end of Annuity-Certain Period.

4. Option D: Joint Life Last Survivor with 50% of Annuity to spouse: Annuity will be payable to you throughout life; and on death, your spouse will receive 50% of the prevailing Annuity throughout his/her life.

5. Option E: Joint Life Last Survivor with 100% of Annuity to spouse: Annuity will be payable to you throughout life; and on death, your spouse will receive 100% of the prevailing Annuity throughout his/her life.

6. Option F: Joint Life Last Survivor with 100% of Annuity to spouse & with Return of Purchase Price² (ROP) on death of Last Survivor: Annuity will be payable to you throughout life; and on death, your spouse will receive 100% of the prevailing Annuity throughout his/her life. On death of the Last Survivor, X% of the Purchase Price² will be returned to the nominee. The proportion (X%) of the Purchase Price² given as ROP can range from 50% to 100%, as chosen by the policyholder at inception. The proportion, once chosen cannot be changed during the term of the policy.

7. Option G: Life Annuity with Return of Purchase Price² (ROP) on death or survival: Annuity will be payable to you throughout life and additionally on the policy anniversary after the 25th Policy Year or the policy anniversary after attaining Age 85 (whichever is later), the Purchase Price² will be returned to you as Survival benefit with annuity continuing subsequently.

On death before receiving the Survival benefit, the Purchase price² will be returned to your nominee and on death after receiving the Survival benefit, no further benefit shall be payable.

8. Option H: Life Annuity with Return of Purchase Price² (ROP) on death or in instalments on survival: Annuity will be payable to you throughout life and additionally, starting from the policy anniversary after the 15th Policy Year or the policy anniversary after attaining Age 70 (whichever is later), Survival benefit would be payable to you at each policy anniversary in instalments as per the Annuity payment frequency with Annuity continuing subsequently. In yearly payment frequency, the Survival benefit will be in annual instalments equivalent to 5% of the Purchase Price². Under monthly, quarterly and half-yearly, each instalment, respectively, will be (5%/12), (5%/4) and (5%/2) of the Purchase price². Survival benefit will be payable till the total of all the instalments equals 100% of the Purchase Price². On death, an amount equal to Purchase Price² less sum of the Survival benefit paid (if any) shall be paid to your nominee

9. Option I: Family Pension: (Only for NPS subscribers) Life annuity shall be payable to the NPS subscriber as below:

• If the NPS subscriber has a spouse/spouse is alive: Annuity will be payable as per the Annuity option, Option F (Joint Life Last Survivor with 100% of annuity to spouse & with ROP on death of last survivor).
• If the NPS subscriber does not have a spouse or his/her spouse is not alive: Annuity will be payable as per the annuity option, Option B (Life annuity with ROP on death).

On death of the both the annuitant and the spouse:

• The ROP shall be used to purchase an Annuity under Annuity option, Option B, on the dependent mother (if alive) of the deceased NPS subscriber; and
• On the death of the mother, ROP shall be used to purchase an Annuity as per Annuity option, Option B, on the dependent father (if alive) of the deceased NPS subscriber.
• The Annuity amount, on each purchase (mentioned above), will be based on the prevailing annuity rate then under the mentioned Annuity option.

On the death of the last surviving annuitant (out of the NPS subscriber, the spouse, the mother, the father), and provided the policy has not been terminated prior, the death benefit payable shall be 100% of the Purchase price².

DEFERRED ANNUITY

Let us look at the benefits available under Deferred Annuity options*. In these options, Annuity will be payable to you on each Annuity instalment date, post completion of the Deferment Period, and according to the Annuity payment frequency opted by you at the inception of the policy.

In case of death during Deferment Period, an amount equal to Death benefit factor * Total Premiums Paid, subject to a minimum of 105% of Total Premiums Paid, shall be payable to the nominee.

Total Premiums Paid means total of all the premiums paid under the base product, excluding any extra premium and taxes, if collected explicitly. GST and cess (if any) will be collected over and above the premium under the policy.

1. Option A: Life Annuity: Annuity will be payable to you throughout life.
2. Option B: Life Annuity with Return of Purchase Price² (ROP) on death: Annuity will be payable to you throughout life and on death after the Deferment period, an amount equal to X% of Total Premiums Paid shall be paid to your nominee. The proportion (X%) of the Purchase Price² given as ROP can range

from 50% to 100%, as chosen by the policyholder at inception. The proportion, once chosen, cannot be changed during the term of the policy.

3. Option E: Joint Life Last Survivor with 100% of Annuity to spouse: Annuity will be payable to you throughout life; and on death, your spouse will receive 100% of the prevailing Annuity throughout his/her life. Under deferred annuity, this option is available only with regular premium payment.

4. Option F: Joint Life Last Survivor with 100% of Annuity to spouse & with Return of Purchase Price² (ROP) on death of Last Survivor: Annuity will be payable to you throughout life and on death, your spouse will receive 100% of the prevailing Annuity throughout his/her life.

On death of surviving life after the Deferment period, an amount equal to X% of Total Premiums Paid shall be paid to your nominee. The proportion (X%) of the Purchase Price² given as ROP can range from 50% to 100%, as chosen by the policyholder at inception.

The proportion, once chosen, cannot be changed during the term of the policy. Under Deferred Annuity with Single Premium payment, X% is, mandatorily, 100%.

5. Option G: Life Annuity with Return of Purchase Price² (ROP) on death or survival: (Only Single Premium payment is available in this option) Annuity will be payable to you throughout life and additionally on the policy anniversary after the 25^th policy year or the policy anniversary after attaining age 85 (whichever is later), the Purchase price² will be returned to you as Survival benefit with Annuity

continuing subsequently.

On death after the Deferment period and before receiving the Survival benefit, an amount equal to the Purchase price² shall be paid to your nominee. On death after receiving the Survival benefit, no further benefit shall be payable.

6. Option H: Life Annuity with Return of Purchase Price² (ROP) on death or in instalments on survival:

(Only Single Premium payment is available in this option) Annuity will be payable to you throughout life and additionally, starting from the policy anniversary after the 15th Policy Year or the policy anniversary after attaining Age 70 (whichever is later), Survival benefit would be payable to you at each policy anniversary in instalments as per the Annuity payment frequency with Annuity continuing subsequently.

In yearly payment frequency, the Survival benefit will be in annual instalments equivalent to 5% of the Purchase Price². Under monthly, quarterly and half-yearly, each instalment, respectively, will be (5%/12), (5%/4) and (5%/2) of the Purchase price². Survival benefit will be payable till the total of all the instalments equals 100% of the Purchase Price².

On death after the Deferment period, an amount equal to the Purchase price² less sum of the Survival benefit paid (if any) shall be paid to your nominee. This amount shall be subject to a minimum of Purchase price² less Survival benefit paid (if any)

Option C, D, & I shall not be available with Deferred Annuity.