{"uin":"116L209V07","name":"Bajaj Life Smart Pension","url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07","insurer":{"slug":"bajaj-life-insurance","name":"Bajaj Life Insurance Limited","url":"https://indiainsurances.com/insurer/bajaj-life-insurance"},"line":"life","category":"ulip","category_name":"ULIPs (unit-linked plans)","irdai_type":"ULIP","kind":"product","status":"active","approved_on":"2025-05-15","withdrawn_on":null,"summary":"Bajaj Life Smart Pension is a non-participating, individual, unit linked, regular or single premium pension plan with Classic and Assure variants. It has a five-year lock-in, a 30-day free-look period, and a vesting benefit equal to the Fund Value.","analysis":{"state":"machine","analysed_at":"2026-10-19 19:10:26.212338+00","note":"First pass: one AI reading; every stated fact carries a verbatim quote found in the cited clause, but it has not been reviewed. Check the clause before relying on it."},"facts":[{"key":"plan_variants","label":"Plans and variants","section":"Overview","meaning":"The named plans inside this product (not cover types or payout options). Facts can differ between them.","status":"quote-verified","value":["Variant 1: Classic","Variant 2: Assure"],"display":"Variant 1: Classic; Variant 2: Assure","note":null,"quote":"This product has two variants, where Variant 1: Classic does not have a Waiver of Premium Component and Variant 2: Assure comes with a Waiver of Premium Component.","sources":[{"clause":"26","heading":"“Unit”","page":3,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26"}],"law":[]},{"key":"policy_term","label":"Policy term","section":"Eligibility","meaning":"How long one policy runs before it ends or must be renewed.","status":"not-stated","value":null,"display":null,"note":"The policy schedule has placeholders for Date of Commencement, Date of Expiry and Date of Vesting, but the document does not state a fixed policy term or term range.","quote":null,"sources":[],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"not-stated","value":null,"display":null,"note":"The death claim clause requires intimation with documents, but does not state a deadline for intimation.","quote":null,"sources":[],"law":[{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 20, 21","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_documents","label":"Claim documents","section":"Claims","meaning":"Documents the insurer asks for when you claim.","status":"quote-verified","value":["Written Notice of Intimation of Death","Original Death Certificate","Medical cause of death certificate","If death is due to unnatural causes, copy of FIR (First Information Report) and PMR (Post-Mortem Report)","Any other documents that may be requested on intimation of death of the Life Assured for investigations or otherwise by us"],"display":"Written notice of death intimation, original death certificate, medical cause of death certificate, FIR and PMR for unnatural death, and any other documents requested.","note":null,"quote":"Death Benefits are only payable if an intimation, has been received by us along with: ... a) Written Notice of Intimation of Death; ... b) Original Death Certificate; ... c) Medical cause of death certificate; ... d) If death is due to unnatural causes, copy of FIR (First Information Report) and PMR (Post-Mortem Report); Any other documents that may be requested on intimation of death of the Life Assured for investigations or otherwise by us.","sources":[{"clause":"26(c)","heading":null,"page":6,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-c-3"},{"clause":"26(a)","heading":null,"page":7,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-a-4"},{"clause":"26(b)","heading":null,"page":7,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-b-4"},{"clause":"26(c)","heading":null,"page":7,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-c-4"},{"clause":"26(d)","heading":null,"page":7,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-d-2"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 17","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 23","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_settlement_time","label":"Claim settlement time promised","section":"Claims","meaning":"How quickly the policy says a claim is decided or paid, and from when that is counted (intimation or last document).","status":"not-stated","value":null,"display":null,"note":"The document does not state a death claim decision or settlement timeline.","quote":null,"sources":[],"law":[{"title":"The Insurance Act, 1938","section":"Section 64UM(4) to (6)","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 10","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 15","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 16","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(i), V.3(ii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 23","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"The Motor Vehicles Act, 1988: Chapter XI, insurance of motor vehicles against third party risks","section":"Section 149","url":"https://indiainsurances.com/law/motor-vehicles-act-1988"}]},{"key":"exclusions_main","label":"Main exclusions","section":"Exclusions","meaning":"What the policy does not pay for, in the policy's own words.","status":"quote-verified","value":["In case the death of the Life Assured is due to suicide within 12 months from the Date of Commencement of the Policy Risk, or 12 months from the date the Policy has been Revived, then Fund Value on the date of intimation of death would be payable.","No benefits will be available during the Lock-In Period."],"display":"Suicide within 12 months from commencement of risk or revival pays only Fund Value on intimation; no benefits during the Lock-In Period after surrender in the first five policy years.","note":null,"quote":"In case the death of the Life Assured is due to suicide within 12 months from the Date of Commencement of the Policy Risk, or 12 months from the date the Policy has been Revived, then Fund Value on the date of intimation of death would be payable. ... If you surrender your Policy during the first five (5) Policy Years, the Fund Value will be moved to Discontinued Pension Policy Fund and the amount will be paid out after the end of the Lock-In Period after deducting the relevant charges. No benefits will be available during the Lock-In Period.","sources":[{"clause":"Row 1(e)","heading":null,"page":14,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-row-1-e"},{"clause":"26(c)","heading":null,"page":6,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-c-3"}],"law":[{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 11","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 16","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grievance","label":"Grievance route","section":"Claims","meaning":"Who to complain to first, as stated in the policy, before going to the Insurance Ombudsman.","status":"quote-verified","value":"First contact the Grievance Officer of the nearest Customer Care Center at the company's branch office, or contact the company by post, phone or email. If not satisfied or no response is received within 14 days, contact the Grievance Redressal Officer; if still not satisfied or no response within 14 days, the policy says you may approach IRDAI grievance channels before the Ombudsman route.","display":"First: Grievance Officer at nearest Customer Care Center/Branch Office or Customer Care Desk. Escalation: Grievance Redressal Officer if unresolved or no response within 14 days.","note":null,"quote":"In case You have any query or complaint/ grievance, You may contact the Grievance Officer of any nearest Customer Care Center at Branch Office of the Company. Alternatively, You may communicate with the Company: ... In case You are not satisfied with the resolution provided to You by the above office, or have not received any response within fourteen (14) days, or You have any suggestion in respect of this Policy or on the functioning of the office, You may contact the following official for resolution: ... Grievance Redressal Officer, Bajaj Life Insurance Limited.","sources":[{"clause":"Row 1(e)","heading":null,"page":14,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-row-1-e"}],"law":[{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 3","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 4","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 5","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(11)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(42)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 34","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 69","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Insurance Act, 1938","section":"Section 38","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 12","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 19","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 20","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 13","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(5), 5(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(9)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 25","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 26","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 11","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"Review of revision in premium rates under health insurance policies for senior citizens, 2025","section":"Para 3","url":"https://indiainsurances.com/law/irdai-senior-premium-2025"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 13","url":"https://indiainsurances.com/law/ombudsman-rules-2017"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 14","url":"https://indiainsurances.com/law/ombudsman-rules-2017"}]},{"key":"sum_assured","label":"Sum assured","section":"Cover","meaning":"The minimum and maximum life cover, or the rule that sets it (for example 10 times the annual premium).","status":"quote-verified","value":"The document states the life cover through the death benefit rule rather than a separate minimum or maximum sum assured. For Classic, death benefit is 105% of premiums paid till death or Fund Value, whichever is higher; for Assure, 105% of premiums paid till death is paid first and remaining premiums are infused later for vesting benefit.","display":"Classic: higher of Fund Value or 105% of premiums paid. Assure: 105% of premiums paid first, then remaining premiums are infused and vesting benefit is paid on vesting.","note":"No separate minimum or maximum sum assured is stated in the provided wording.","quote":"Death Benefit | <Higher of Fund Value or 105% of Premiums Paid / 105% of premiums Paid and Vesting Benefit> ... On the death of the Policyholder, 105% of the premiums Paid till the date of death or the Fund Value, whichever is higher will be paid. | On the death of the Policyholder, 105% of the premiums paid till the date of death will be paid frist after intimation. Thereafter, the remaining premiums due on or after date of intimation of death will be infused into the Policy by us, as and when due, and Vesting Benefti will be paid on the Date of Vesting.","sources":[{"clause":null,"heading":null,"page":1,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-s1"},{"clause":"26(c)","heading":null,"page":4,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-c"}],"law":[]},{"key":"death_benefit","label":"Death benefit","section":"Cover","meaning":"What your family gets if you die during the term, and how it is calculated.","status":"quote-verified","value":"For Variant 1 Classic, on death the nominee gets 105% of premiums paid till the date of death or the Fund Value, whichever is higher. For Variant 2 Assure, 105% of premiums paid till death is paid first after intimation; the remaining premiums are then infused by the insurer as they fall due and the Vesting Benefit is paid on the Date of Vesting.","display":"Classic: higher of 105% of premiums paid or Fund Value. Assure: 105% of premiums paid first, then future premiums are infused and Vesting Benefit is paid on vesting.","note":"Top-up premium death benefit is stated separately as 105% of top-up premiums paid.","quote":"Variant 1: Classic | Variant 2: Assure ... On the death of the Policyholder, 105% of the premiums Paid till the date of death or the Fund Value, whichever is higher will be paid. | On the death of the Policyholder, 105% of the premiums paid till the date of death will be paid frist after intimation. Thereafter, the remaining premiums due on or after date of intimation of death will be infused into the Policy by us, as and when due, and Vesting Benefti will be paid on the Date of Vesting.","sources":[{"clause":"26(c)","heading":null,"page":4,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-c"}],"law":[]},{"key":"maturity_benefit","label":"Maturity benefit","section":"Cover","meaning":"What you get if you survive to the end of the term.","status":"quote-verified","value":"On the Date of Vesting, the entire Fund Value is paid as the Vesting Benefit. The policyholder must use the vesting benefit to buy an annuity in the stated manner, with options to withdraw up to 60% as lumpsum and use 40% for annuity, or use up to 50% to buy an annuity from another insurer and the remaining 50% from the insurer.","display":"On vesting: entire Fund Value, to be used for annuity with permitted commutation options.","note":null,"quote":"b) Vesting Benefit On the Date of Vesting, the entire Fund Value, will be paid. ... Purchase an annuity policy from us using the entire Vesting Benefit; or ... Withdraw up to 60% of the Vesting Benefit as a lumpsum and use the remaining 40% to purchase an annuity policy from us; or ... Use up to 50% of the Vesting Benefit to purchase an annuity policy from another insurer and use the remaining 50% of the Vesting Benefit to purchase an annuity policy from us.","sources":[{"clause":"26(b)","heading":null,"page":4,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-b"},{"clause":"26(c)","heading":null,"page":4,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-c"}],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"quote-verified","value":"For regular premium policies, premiums are payable on monthly, quarterly, bi-annual or annual frequencies for the period detailed in the Policy Schedule. For single premium policies, no further premiums are payable.","display":"Regular: for the period in the Policy Schedule. Single: no further premiums.","note":null,"quote":"If the premium payment type is “Regular”, then regular premiums are payable under the Policy on monthly/quarterly/bi-annual/ annual frequencies, for a period detailed in the Policy Schedule. If the premium payment type is “Single” then no further premiums are payable.","sources":[{"clause":"26(c)","heading":null,"page":4,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-c"}],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"quote-verified","value":"The wording states that the Date of Vesting can be postponed for at least one year and up to a maximum period until the policyholder attains age 75, if the policyholder is under age 60 on the Date of Vesting.","display":"Postponement allowed up to age 75, if under age 60 on the Date of Vesting.","note":"The base maximum vesting or maturity age without postponement is not stated in the wording.","quote":"If you wish, you can postpone the Date of Vesting for a minimum period of one (1) year from the Date of Vesting, up to a maximum period which will be until you attain the age of 75, as long as you are under the age of 60 on the Date of Vesting.","sources":[{"clause":"26(g)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-g-2"}],"law":[]},{"key":"suicide_clause","label":"Suicide clause","section":"Exclusions","meaning":"What is paid if death is by suicide within the first 12 months.","status":"quote-verified","value":"If death of the Life Assured is due to suicide within 12 months from the Date of Commencement of the Policy Risk, or within 12 months from revival, the Fund Value on the date of intimation of death is payable.","display":"Suicide within 12 months of commencement of risk or revival: Fund Value on the date of intimation of death.","note":null,"quote":"In case the death of the Life Assured is due to suicide within 12 months from the Date of Commencement of the Policy Risk, or 12 months from the date the Policy has been Revived, then Fund Value on the date of intimation of death would be payable.","sources":[{"clause":"Row 1(e)","heading":null,"page":14,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-row-1-e"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 21","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 35","url":"https://indiainsurances.com/law/irdai-life-products-2024"}]},{"key":"surrender","label":"Surrender value","section":"Renewal and rights","meaning":"What you get if you stop the policy early, and from when.","status":"quote-verified","value":"The policy can be surrendered at any time. If surrendered during the first five policy years, the Fund Value is moved to the Discontinued Pension Policy Fund and paid after the Lock-In Period after relevant charges; if surrendered after the first five policy years, Fund Value as on the surrender date is paid, subject to the pension utilisation rules.","display":"Any time; first 5 policy years: Fund Value moved to Discontinued Pension Policy Fund and paid after lock-in after charges. After first 5 policy years: Fund Value on surrender date.","note":"Surrender value must be used for annuity/commutation in the manner stated in the policy.","quote":"You can surrender the Policy at any time. If you surrender your Policy during the first five (5) Policy Years, the Fund Value will be moved to Discontinued Pension Policy Fund and the amount will be paid out after the end of the Lock-In Period after deducting the relevant charges. No benefits will be available during the Lock-In Period. If you surrender your Policy after the first five (5) Policy Years, Fund Value as on date of surrender will be paid.","sources":[{"clause":"26(c)","heading":null,"page":6,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-c-3"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.1 to 26.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.4 and 26.5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 27","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.16 and 1.17","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(1) to (3)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(4) and (5)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(6) to (9)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(B)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vi)(c)(V)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"paid_up","label":"Paid-up value","section":"Renewal and rights","meaning":"What cover continues if you stop paying premiums after a few years.","status":"not-stated","value":null,"display":null,"note":"The wording says that if premiums are discontinued after the first five policy years and the grace period expires, the policy will be termed a Paid-Up Policy, but it does not state the continuing cover or a paid-up value formula.","quote":null,"sources":[],"law":[]},{"key":"revival","label":"Revival period","section":"Renewal and rights","meaning":"How long after lapsing you can restart the policy.","status":"quote-verified","value":"A discontinued policy may be revived within 3 years from the date of non-payment of premium by paying arrears of premiums due. Revival may require medical examinations at the policyholder's expense and is subject to underwriting and company discretion.","display":"Within 3 years from the date of non-payment of premium.","note":null,"quote":"A Policy may be revived within 3 years from the date of non-payment of premium. Revival will require paying the arrears of premiums due under the Policy. You may also require undergoing Medical Examinations, at your expense.","sources":[{"clause":"26(b)","heading":null,"page":6,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-b-3"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.1 and 40.1.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.4","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.7","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.10","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.28","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.39","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"policy_loan","label":"Policy loan","section":"Renewal and rights","meaning":"Whether you can borrow against the policy.","status":"not-stated","value":null,"display":null,"note":"The product wording does not state whether loans are available under this policy; the assignment annexure contains only generic Section 38 wording.","quote":null,"sources":[],"law":[]},{"key":"riders_available","label":"Riders available","section":"Cover","meaning":"Optional add-ons such as accidental death, critical illness or waiver of premium.","status":"not-stated","value":null,"display":null,"note":"The schedule refers to rider premium if a rider is opted, but no named rider options are listed.","quote":null,"sources":[],"law":[]},{"key":"section45","label":"Claims after 3 years (Section 45)","section":"Claims","meaning":"After 3 years a life policy cannot be questioned on any ground, and only for fraud with proof before that.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[{"title":"The Insurance Act, 1938","section":"Section 45","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.6","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"tax_note","label":"Tax note in the document","section":"Premium","meaning":"What the document says about tax benefits. Not stated when it only says taxes are charged on the premium. Tax law changes; confirm separately.","status":"not-stated","value":null,"display":null,"note":"The document states taxes/GST may be borne or deducted, but does not state tax benefits.","quote":null,"sources":[],"law":[]},{"key":"free_look","label":"Free-look period","section":"Renewal and rights","meaning":"Days after you receive the policy in which you can return it for a refund if you do not agree with its terms.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days","note":"Refund request during free look is to be processed and premium refunded within 7 days of receipt of request, subject to stated deductions.","quote":"You shall be provided a Free Look Period of 30 days beginning from the date of receipt of Policy document, whether received electronically or otherwise, to review the terms and conditions of such policy, except if tenure of the policy is less than a year.","sources":[{"clause":"26(d)","heading":null,"page":5,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-d"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 5","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(1), 20(2)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(3) to 20(5)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, II.8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grace_period","label":"Grace period","section":"Renewal and rights","meaning":"Days you get after the due date to pay without losing cover or continuity.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days; 15 days for monthly premium payment frequency","note":"Monthly mode has 15 days; all other premium payment frequencies have 30 days.","quote":"“Grace Period” is an additional period available for payment of any premium instalment after the due date. 15-days would be offered where the premium payment frequency is monthly, and 30- days would be offered for all other premium payment frequencies;","sources":[{"clause":"8","heading":"“Grace Period”","page":3,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-8"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 8","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 9","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 8","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.2","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 1.3","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"eligibility_entry_age","label":"Entry age","section":"Eligibility","meaning":"The youngest and oldest age at which you can buy this policy.","status":"not-stated","value":null,"display":null,"note":"The wording does not state minimum or maximum entry age.","quote":null,"sources":[],"law":[]},{"key":"premium_modes","label":"Premium payment options","section":"Premium","meaning":"How often you can pay: yearly, half-yearly, quarterly, monthly.","status":"quote-verified","value":["monthly","quarterly","bi-annual","annual"],"display":"monthly, quarterly, bi-annual, annual","note":"Bi-Annual, Quarterly and Monthly payment frequencies require auto-debit.","quote":"regular premiums are payable under the Policy on monthly/quarterly/bi-annual/ annual frequencies ... Options of premium payment frequencies are monthly, quarterly, biannual, or annual. It should be noted, however, that bi-Annual, Quarterly and Monthly payment frequencies are only allowed if auto-debit is activated for payment.","sources":[{"clause":"26(c)","heading":null,"page":4,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-c"},{"clause":"26(e)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-e-3"}],"law":[]},{"key":"premium_type","label":"Premium payment type","section":"Premium","meaning":"Single premium, regular premium (every year of the term) or limited premium (fewer years than the term).","status":"quote-verified","value":["Regular","Single"],"display":"Regular or Single","note":"Variant 1 Classic has single or regular premium payment period; Variant 2 Assure has regular premium payment period.","quote":"Your Policy is a non-participating, individual, unit linked, regular or single premium pension plan. ... Variant 1 comes with a single or regular premium payment period. Variant 2 comes with a regular premium payment period.","sources":[{"clause":"26","heading":"“Unit”","page":3,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26"}],"law":[]},{"key":"lock_in","label":"Lock-in period","section":"Renewal and rights","meaning":"Years before you can withdraw. ULIPs have a 5-year lock-in.","status":"quote-verified","value":{"unit":"years","amount":5},"display":"five (5) Policy Years","note":null,"quote":"“Lock -In Period” is the first five (5) Policy Years under the Policy.","sources":[{"clause":"13","heading":null,"page":3,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-13"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.1 and 40.1.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 4","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 42","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 54.1 and 54.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.5","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.22 to 1.24","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(B)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vii) to (ix)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vi)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"funds","label":"Fund options","section":"Cover","meaning":"The investment funds you can choose and their risk.","status":"quote-verified","value":["Liquid Pension Fund II - Low","Bond Pension Fund II - Low","Asset Allocation Pension Fund II - Moderate","Pure Stock Pension Fund II - High","Flexi Cap Pension Fund - High","Nifty 200 Alpha 30 Index Pension Fund - High","Nifty 500 Multifactor 50 Index Pension Fund - Very High","BSE 500 Enhanced Value 50 Index Pension Fund - Very High","Nifty Alpha 50 Index Pension Fund - Very High","BSE 500 Dividend Leaders 50 Index Pension Fund - Very High","BSE 500 Quality 50 In-dex Pension Fund - Very High","Nifty 500 Low Volatility 50 Index Pension Fund - Very High"],"display":"Liquid and Bond funds are Low risk; Asset Allocation is Moderate; Pure Stock, Flexi Cap and Nifty 200 Alpha 30 are High; the listed Nifty/BSE index pension funds are Very High.","note":"The table also lists the Discontinued Pension Policy Fund, which is used on discontinuance or surrender before lock-in rather than a normal chosen investment fund.","quote":"a | Liquid Pension Fund II | ULIF09717 /04/25LQD PENFDII116 | Low ... b | Bond Pension Fund II | ULIF09817 /04/25BND PENFDII116 | Low ... c | Asset Allocation Pension Fund II | ULIF09917 /04/25ASS PENFDII116 | Moderate ... d | Pure Stock Pension Fund II | ULIF010017 /04/25PUR STKPEN2116 | High ... e | Flexi Cap Pension Fund | ULIF010117 /04/25FLXC APPENI116 | High ... f | Nifty 200 Alpha 30 Index Pension Fund* | ULIF010217 /04/25N20 0A30PEN116 | High ... h | Nifty 500 Multifactor 50 Index Pension Fund* | ULIF010512 /09/25N500 MF50IP116 | Very High ... i | BSE 500 Enhanced Value 50^ In-dex Pension Fund* | ULIF010613 /10/25B500 EV50IP116 | Very High ... j | Nifty Alpha 50 Index Pension Fund* | ULIF010713 /10/25NAL5 0V50IP116 | Very High ... k | ^BSE 500 Dividend Leaders 50 Index Pension Fund* | ULIF011111 /11/25B500 DL50IP116 | Very High ... l | ^BSE 500 Quality 50 In-dex Pension Fund* | ULIF01130 6/02/26B 500Q50I PF116 | Very High ... m | Nifty 500 Low Volatility 50 Index Pension Fund* | ULIF01161 7/03/26N5 00LV50IP 116 | Very High","sources":[{"clause":"26(h)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-h"},{"clause":null,"heading":"Table of Contents","page":11,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-table-of-contents"}],"law":[]},{"key":"premium_allocation_charge","label":"Premium allocation charge","section":"Charges","meaning":"Part of each premium taken before investing.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[]},{"key":"policy_admin_charge","label":"Policy administration charge","section":"Charges","meaning":"Monthly charge deducted from your fund.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[]},{"key":"fund_management_charge","label":"Fund management charge","section":"Charges","meaning":"Yearly charge on fund value; capped at 1.35% by IRDAI.","status":"quote-verified","value":"Fund Management Charges are 1.35% for the equity, hybrid and index pension funds listed, 0.95% for Bond Pension Fund II and Liquid Pension Fund II, and 0.50% for the Discontinued Pension Policy Fund. The charge is adjusted in the unit price.","display":"1.35% for most equity/hybrid/index funds; 0.95% for Bond Pension Fund II and Liquid Pension Fund II; 0.50% for Discontinued Pension Policy Fund.","note":null,"quote":"d. Fund Management Charges | P – annual premium & FV – Fund Value(1) ... Asset Allocation Pension Fund II | 1.35% ... Pure Stock Pension Fund II | 1.35% ... Flexi Cap Pension Fund | 1.35% ... Nifty 200 Alpha 30 Index Pension Fund | 1.35% ... Nifty 500 Multifactor 50 In-dex Pension Fund | 1.35% ... Bond Pension Fund II | 0.95% ... Liquid Pension Fund II | 0.95% ... Discontinued Pension Policy Fund | 0.50% ... This charge would be adjusted in unit price.","sources":[{"clause":"26(a)","heading":null,"page":12,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-a-8"},{"clause":"Row 2","heading":"Lower of 1.5%* (SP or FV)(2) subject to a maximum of Rs. 2000/-","page":13,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-row-2"},{"clause":"Row 3","heading":"Lower of 1%* (SP or FV) (2) subject to a maximum of Rs.1500/-","page":13,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-row-3"},{"clause":"26(a)","heading":null,"page":13,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-a-9"}],"law":[]},{"key":"mortality_charge","label":"Mortality charge","section":"Charges","meaning":"Cost of life cover, deducted monthly by age.","status":"quote-verified","value":"Mortality charges are deducted at each monthly anniversary by cancellation of units at the prevailing unit price. Annexure 2 gives standard male annual mortality charge rates per ‘000 Sum at Risk from age 18 to 80, with female lives using a three-year age setback; the monthly charge is applied on Sum-at-Risk using the variant-specific formula.","display":"Monthly charge by cancellation of units; male annual rates per ‘000 Sum at Risk, female 3-year age setback.","note":"For Variant 1 Classic the formula is Max (Death Benefit – Fund Value, 0) * (mx/1000)/12; for Variant 2 Assure it is Death Benefit * (mx/1000)/12.","quote":"Mortality Charges are detailed at Annexure 2. Mortality Charge will be deducted at each monthly anniversary by cancellation of Units at the prevailing ... Unit price. Mortality charge would only be charged up to the date of death as applicable. For female lives, the same are with a three-year age set-back. ... Bajaj Life Smart Pension – Standard Mortality Charges for Males All 2 Variants: Annual Mortality Charge Rates (mx or my) per ‘000 Sum at Risk ... Age | Mortality charge ... 18 | 0.874 ... 80 | 61.985 ... For Female lives there is 3 years’ age set-back for calculating mortality charges ... The mortality charge will be levied monthly.","sources":[{"clause":"26(a)","heading":null,"page":13,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-a-9"},{"clause":"26(a)","heading":null,"page":13,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-26-a-10"},{"clause":"Annexure 2","heading":null,"page":20,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/4007#c-annexure-2"}],"law":[]},{"key":"discontinuance_charge","label":"Discontinuance charge","section":"Charges","meaning":"Charge if you stop paying in the first five years.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[]},{"key":"switches_withdrawals","label":"Switches and partial withdrawals","section":"Renewal and rights","meaning":"Free fund switches and withdrawals after lock-in.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[]}],"documents":[{"kind":"wording","label":"Bajaj Allianz Life Smart Pension Policy Documents","pages":21,"fetched_at":"2026-10-17 19:42:14+00","source_url":"https://www.bajajlifeinsurance.com/content/dam/balic-web/pdf/withdrawn-pol-doc/smart-pension-policy-doc-116L209V01.pdf","url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/3963"},{"kind":"wording","label":"Bajaj Life Smart Pension Policy Documents","pages":23,"fetched_at":"2026-10-17 19:42:31+00","source_url":"https://www.bajajlifeinsurance.com/content/dam/balic-web/pdf/withdrawn-pol-doc/smart-pension-policy-116L209V04.pdf","url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07/document/3980"},{"kind":"wording","label":"Bajaj Life Smart Pension Policy Documents","pages":23,"fetched_at":"2026-10-17 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We do not sell insurance and earn no commission; your request is not passed to anyone."}],"claims_and_complaints":[{"purpose":"claim","kind":"insurer","name":"Claim assistance","url":"https://www.bajajlifeinsurance.com/life-insurance-claim-assistance.html","note":null},{"purpose":"claim","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"grievance","kind":"insurer","name":"Grievance redressal mechanism","url":"https://www.bajajlifeinsurance.com/grievance-redressal-mechanism.html","note":null},{"purpose":"grievance","kind":"official","name":"Bima Bharosa (IRDAI grievance portal)","url":"https://bimabharosa.irdai.gov.in/","note":"Register and track a complaint against any insurer with IRDAI. Complain to the insurer first; escalate here if the reply is late or unsatisfactory."},{"purpose":"grievance","kind":"official","name":"e-Daakhil (consumer commission e-filing)","url":"https://edaakhil.nic.in/","note":"Not reachable from our crawler on 2026-10-19; use e-Jagriti if this link does not open."},{"purpose":"grievance","kind":"official","name":"e-Jagriti (consumer commission filing)","url":"https://e-jagriti.gov.in/","note":"Ministry of Consumer Affairs platform for consumer commission cases, a route for insurance disputes that the Ombudsman does not settle."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Ahmedabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Gujarat, Dadra & Nagar Haveli, Daman and Diu. Email: oio.ahmedabad@cioins.co.in. Phone: 079 - 25501201/02. Address: Office of the Insurance Ombudsman, Jeevan Prakash Building, 6th floor, Tilak Marg, Relief Road, AHMEDABAD – 380 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bengaluru","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Karnataka. Email: oio.bengaluru@cioins.co.in. Phone: 080 - 26652048 / 26652049. Address: Office of the Insurance Ombudsman, Jeevan Soudha Building,PID No. 57-27-N-19 Ground Floor, 19/19, 24th Main Road, JP Nagar, Ist Phase, Bengaluru – 560 078."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhopal","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Madhya Pradesh, Chhattisgarh. Email: oio.bhopal@cioins.co.in. Phone: 0755 - 2769201 / 2769202 / 2769203. Address: Office of the Insurance Ombudsman, 1st floor,\"Jeevan Shikha\", 60-B,Hoshangabad Road, Opp. Gayatri Mandir,Arera Hills Bhopal – 462 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhubaneswar","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Odisha. Email: oio.bhubaneswar@cioins.co.in. Phone: 0674 - 2596461 /2596455/2596429/2596003. Address: Office of the Insurance Ombudsman, 62, Forest park, Bhubaneswar – 751 009."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chandigarh","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Punjab, Haryana (excluding Gurugram, Faridabad, Sonepat and Bahadurgarh), Himachal Pradesh, Union Territories of Jammu & Kashmir,Ladakh & Chandigarh. Email: oio.chandigarh@cioins.co.in. Phone: 0172-2706468. Address: Office Of The Insurance Ombudsman, Jeevan Deep Building SCO 20-27, Ground Floor Sector- 17 A, Chandigarh – 160 017."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chennai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Tamil Nadu, PuducherryTown and Karaikal (which are part of Puducherry). Email: oio.chennai@cioins.co.in. Phone: 044 - 24333668 / 24333678. Address: Office of the Insurance Ombudsman, Fatima Akhtar Court, 4th Floor, 453, Anna Salai, Teynampet, CHENNAI – 600 018."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Delhi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Delhi & following Districts of Haryana - Gurugram, Faridabad, Sonepat & Bahadurgarh. Email: oio.delhi@cioins.co.in. Phone: 011 - 46013992/23213504/23232481. Address: Office of the Insurance Ombudsman, 2/2 A, Universal Insurance Building, Asaf Ali Road, New Delhi – 110 002."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Guwahati","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Assam, Meghalaya, Manipur, Mizoram, Arunachal Pradesh, Nagaland and Tripura. Email: oio.guwahati@cioins.co.in. Phone: 0361 - 2632204 / 2602205 / 2631307. Address: Office of the Insurance Ombudsman, Jeevan Nivesh, 5th Floor, Near Pan Bazar , S.S. Road, Guwahati – 781001(ASSAM)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Hyderabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Andhra Pradesh, Telangana, Yanam and part of Union Territory of Puducherry. Email: oio.hyderabad@cioins.co.in. Phone: 040 - 23312122 / 23376991 / 23376599 / 23328709 / 23325325. Address: Office of the Insurance Ombudsman, 6-2-46, 1st floor, \"Moin Court\", Lane Opp.Hyundai Showroom , A. C. Guards, Lakdi-Ka-Pool, Hyderabad - 500 004."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Jaipur","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Rajasthan. Email: oio.jaipur@cioins.co.in. Phone: 0141- 2740363. Address: Office of the Insurance Ombudsman, Jeevan Nidhi – II Bldg., Gr. Floor, Bhawani Singh Marg, Jaipur - 302 005."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kochi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Kerala, Lakshadweep, Mahe-a part of Union Territory of Puducherry. Email: oio.ernakulam@cioins.co.in. Phone: 0484 - 2358759. Address: Office of the Insurance Ombudsman, 10th Floor, Jeevan Prakash,LIC Building, Opp to Maharaja's College Ground,M.G.Road, Kochi - 682 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kolkata","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: West Bengal, Sikkim, Andaman & Nicobar Islands. Email: oio.kolkata@cioins.co.in. Phone: 033 - 22124339 / 22124341. Address: Office of the Insurance Ombudsman, Hindustan Bldg. Annexe, 7th Floor, 4, C.R. Avenue, KOLKATA - 700 072."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Lucknow","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Districts of Uttar Pradesh : Lalitpur, Jhansi, Mahoba, Hamirpur, Banda, Chitrakoot, Allahabad, Mirzapur, Sonbhabdra, Fatehpur, Pratapgarh, Jaunpur,Varanasi, Gazipur, Jalaun, Kanpur, Lucknow, Unnao, Sitapur, Lakhimpur, Bahraich, Barabanki, Raebareli, Sravasti, Gonda, Faizabad, Amethi, Kaushambi, Balrampur, Basti, Ambedkarnagar, Sultanpur, Maharajgang, Santkabirnagar, Azamgarh, Kushinagar, Gorkhpur, Deoria, Mau, Ghazipur, Chandauli, Ballia, Sidharathnagar. Email: oio.lucknow@cioins.co.in. Phone: 0522 - 4002082 / 3500613. Address: Office of the Insurance Ombudsman, 6th Floor, Jeevan Bhawan, Phase-II, Nawal Kishore Road, Hazratganj, Lucknow - 226 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Mumbai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: List of wards under Mumbai Metropolitan Region excluding wards in Mumbai – i.e M/E, M/W, N , S and T covered under Office of Insurance Ombudsman Thane and excluding areas of Navi Mumbai. Email: oio.mumbai@cioins.co.in. Phone: 022 - 69038800/27/29/31/32/33. Address: Office of the Insurance Ombudsman, 3rd Floor, Jeevan Seva Annexe, S. V. Road, Santacruz (W), Mumbai - 400 054."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Noida","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Uttarakhand and the following Districts of Uttar Pradesh: Agra, Aligarh, Bagpat, Bareilly, Bijnor, Budaun, Bulandshehar, Etah, Kannauj, Mainpuri, Mathura, Meerut, Moradabad, Muzaffarnagar, Oraiyya, Pilibhit, Etawah, Farrukhabad, Firozbad, Gautam Buddh nagar, Ghaziabad, Hardoi, Shahjahanpur, Hapur, Shamli, Rampur, Kashganj, Sambhal, Amroha, Hathras, Kanshiramnagar, Saharanpur. Email: oio.noida@cioins.co.in. Phone: 0120-4027589. Address: Office of the Insurance Ombudsman, Bhagwan Sahai Palace 4th Floor, Main Road, Naya Bans, Sector 15, Distt: Gautam Buddh Nagar, U.P-201301."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: offices and jurisdiction","url":"https://www.cioins.co.in/Ombudsman","note":"Addresses, phone numbers, e-mail and the states or districts each Ombudsman office covers."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Patna","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Bihar, Jharkhand. Email: oio.patna@cioins.co.in. Phone: 0612-2547068. Address: Office of the Insurance Ombudsman, 2nd Floor, Lalit Bhawan, Bailey Road, Patna 800 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Pune","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Goa and State of Maharashtra excluding areas of Navi Mumbai, Thane district,Palghar District, Raigad district & Mumbai Metropolitan Region. Email: oio.pune@cioins.co.in. Phone: 020-24471175. Address: Office of the Insurance Ombudsman, Jeevan Darshan Bldg., 3rd Floor, C.T.S. No.s. 195 to 198, N.C. Kelkar Road, Narayan Peth, Pune – 411 030."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: register a complaint online","url":"https://cioins.co.in/Complaint/Online","note":"Council for Insurance Ombudsmen. Free. For disputes with an insurer after its own grievance process; the office is chosen by where you live (see the offices list)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Thane","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Area of Navi Mumbai, Thane District, Raigad District, Palghar District and wards of Mumbai , M/East, M/West, N, S and T. Email: oio.thane@cioins.co.in. Phone: 022-20812868/69. Address: Office of the Insurance Ombudsman, Jeevan Chintamani Building, 2nd Floor,Near New RTO Office, Louis Wadi,Vasantrao Naik Mahamarg, Thane (West)- 400604."},{"purpose":"grievance","kind":"official","name":"National Consumer Helpline","url":"https://consumerhelpline.gov.in/public/","note":"Government consumer helpline; can take up a complaint before you go to a consumer commission."},{"purpose":"port","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"renew","kind":"insurer","name":"Renewal payment","url":"https://www.bajajlifeinsurance.com/renewal-payment.html","note":null}],"notice":"Information, not advice. IndiaInsurances is not an insurer or an insurance intermediary, does not sell insurance and earns no commission. Policy terms change and your own policy schedule can differ: always confirm with the policy document and the insurer before you buy or claim.","cite_as":"Bajaj Life Smart Pension (UIN 116L209V07), IndiaInsurances, https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-smart-pension-116l209v07"}