You have been working hard. You’re going to retire one day. How do you see your retirement? Traveling? Golfing? Turning a hobby into a second career or volunteering for a noble cause or simply spending more time with your family. In retirement, how you choose to spend your time is now upto you. Its also upto you to ensure your retirement income lasts as long as you do. The decisions you make about your money today should be flexible enough to accommodate your changing needs. Taking charge of your retirement begins with Bajaj Allianz UnitGain Easy Pension, a plan that ensures that your olden years are your golden years.

The “Bajaj Allianz UnitGain Easy Pension” Plan
With Bajaj Allianz, you can take control of your future and ensure a retirement you can look forward to.
There are two packages to choose from:

• UnitGain Easy Pension Regular Premium
  
• UnitGain Easy Pension Single Premium
  

What are the benefits available?
The plan works in two parts – the deferment period and the annuity period. During the deferment period, the plan builds up the funds required to purchase the immediate annuity. The deferment period ends at the vesting date. You are free to choose your age of retirement (vesting date) between 45 and 70 years.

The benefits on Vesting Date (the date you choose to retire)

1. The Account Value as on the vesting date will be used to purchase an immediate annuity. The immediate annuity will be purchased at rates prevailing at that point of time.
   
2. Option to take lump sum: You have the option to take upto 1/3rd of the account value on the vesting date as a lump sum. This amount would be tax free in your hand, as per current tax laws. The balance amount will be used to purchase an immediate annuity.
   
3. Open Market Option: You have the option to purchase an immediate annuity from Bajaj Allianz or from any other company. If the immediate annuity is purchased from Bajaj Allianz, the amount available for purchase of the annuity will be marked up by 2%.
   
4. The minimum installment of annuity from Bajaj Allianz is Rs. 1000/-. The annuity frequency may be changed to make each installment more than the minimum requirement. If it still below the minimum, the Account Value may be utilised to purchase an immediate annuity from any other company in the open market as per your choice, or paid in lumpsum, if permissible, subject to the prevailing tax laws.

Assurance – for your family
In the unfortunate event of death during the deferment period, your spouse will have the option to take the Account Value as a lump sum or purchase an annuity to get regular income for life. For the immediate annuity, your spouse will have the Open Market Option as well. The immediate annuity from Bajaj Allianz will be available only if the spouse is above 45. If age were below 45, the Account Value would be paid out.

Annuity options:
You will be able to choose from all immediate annuity products offered by Bajaj Allianz Life insurance at the vesting date. The annuity products currently available are:
a) Annuity for Life
b) Annuity for Life with 5, 10 or 15 years certain payout
c) Annuity for Life with Return of Capital
You also have the open market option to purchase immediate annuity.