{"uin":"116N187V10","name":"Bajaj Life Guaranteed Pension Goal II","url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10","insurer":{"slug":"bajaj-life-insurance","name":"Bajaj Life Insurance Limited","url":"https://indiainsurances.com/insurer/bajaj-life-insurance"},"line":"life","category":"pension-annuity","category_name":"Pension and annuity","irdai_type":"Product","kind":"product","status":"active","approved_on":"2023-12-15","withdrawn_on":null,"summary":"Bajaj Life Guaranteed Pension Goal II is a non-linked, non-participating individual general annuity plan with immediate and deferred annuity variants. It offers life annuity, joint life and return-of-purchase-price annuity options, with a 30 day free-look period.","analysis":{"state":"machine","analysed_at":"2026-10-19 20:17:40.88893+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":["Immediate annuities","Deferred annuities"],"display":"Immediate annuities; Deferred annuities","note":null,"quote":"The annuities are payable in arrear (i.e. at the end of month, quarter, half year, year based on the frequency chosen by the Policyholder), (i) for immediate annuities, from the inception of Policy and, (ii) for deferred annuities, from the end of Deferment Period.","sources":[{"clause":"2","heading":"Policy Description","page":8,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-2"}],"law":[]},{"key":"policy_term","label":"Policy term","section":"Eligibility","meaning":"How long one policy runs before it ends or must be renewed.","status":"quote-verified","value":"Policy term runs from policy commencement to the death of the annuitant or last survivor, or the end of the certain period where applicable, whichever is later.","display":"From Policy Commencement Date to date of death of the Annuitant/Last Survivor or end of Certain Period, whichever is later","note":null,"quote":"‘Policy Term’ means the period from the Policy Commencement Date to date of death of the Annuitant/Last Survivor or the end of the Certain Period (as applicable), whichever is later.","sources":[{"clause":"1(ii)","heading":null,"page":6,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-1-ii"}],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"quote-verified","value":"For a death claim, written notice must be given as soon as possible and in any event within 180 days of the death of the Annuitant, with the circumstances resulting in death.","display":"Death claim: written notice as soon as possible and within 180 days","note":null,"quote":"Written notice as soon as possible and in any event within 180 days of the death of the Annuitant, and the circumstances resulting to the death of the Annuitant.","sources":[{"clause":"22","heading":"Payment of Death claim","page":22,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-22"}],"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","The Claimant’s proof of entitlement to receive payment under the Policy","Original Policy Document","Original death certificate of the deceased Annuitant issued by a competent authority","Any other document as asked for by the Company depending on the facts and circumstances of each case"],"display":"Written notice, claimant proof, original policy document, original death certificate and any other document asked for","note":"For Survival Benefit claims, the clause lists claimant proof, original policy document and any other document asked for by the Company.","quote":"including but not limited to:\ni) Written notice as soon as possible and in any event within 180 days of the death of the Annuitant, and the circumstances resulting to the death of the Annuitant.\nii) The Claimant’s proof of entitlement to receive payment under the Policy.\niii) Original Policy Document.\niv) Original death certificate of the deceased Annuitant issued by a competent authority.\nv) Any other document as asked for by the Company depending on the facts and circumstances of each case.","sources":[{"clause":"22","heading":"Payment of Death claim","page":22,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-22"}],"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 claim clause lists documents and notice requirements but does not state a claim decision or payment 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":["If the death of the Annuitant or the death of the Last Survivor is due to suicide within 12 months from the Date of Commencement of Risk or the date of latest revival of the Policy, whichever is later, the higher of 80% of the Total Premiums Paid or the Surrender Value as on the date of death will be paid as the Death Benefit, provided the Policy is in force.","There are no exclusions other than suicide clause.","Under a Deferred Annuity Policy during the Annuity Period or under an Immediate Annuity Policy, suicide clause or any other exclusion is not applicable."],"display":"Suicide exclusion during deferred annuity deferment period; no other exclusions","note":"The suicide exclusion applies under a Deferred Annuity Policy during the Deferment Period.","quote":"If the death of the Annuitant or the death of the Last Survivor is due to suicide within 12 months from the Date of Commencement of Risk or the date of latest revival of the Policy, whichever is later, the higher of 80% of the Total Premiums Paid or the Surrender Value as on the date of death will be paid as the Death Benefit, provided the Policy is in force. ... There are no exclusions other than suicide clause. Under a Deferred Annuity Policy during the Annuity Period or under an Immediate Annuity Policy, suicide clause or any other exclusion is not applicable.","sources":[{"clause":"12(a)","heading":null,"page":20,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-12-a"},{"clause":"12(b)","heading":null,"page":20,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-12-b"}],"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 any nearest Customer Care Center at the company branch office, or write/call/email the Customer Care Desk. If not satisfied with the resolution or no response is received within 14 days, contact the Grievance Redressal Officer.","display":"Grievance Officer/Customer Care Desk first; then Grievance Redressal Officer after 14 days or if not satisfied","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:\nBy post at: Customer Care Desk, Bajaj Life Insurance Limited., Bajaj Insurance House, Airport Road, Yerawada, Pune - 411006 By Phone at: 020- 6712 1212 By Email: customercare@bajajlife.com 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:\nGrievance Redressal Officer, Bajaj Life Insurance Limited.","sources":[{"clause":"26","heading":"Grievance Redressal","page":24,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-26"}],"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":"not-applicable","value":null,"display":null,"note":"This is an annuity product; the document defines annuity, survival and death benefits rather than a sum assured or life-cover amount.","quote":null,"sources":[],"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":"Death benefit depends on the annuity option and whether death occurs during or after the deferment period. ROP options can pay Proportion x Total Premiums Paid or Purchase Price, while during the deferment period the death benefit is a percentage of Total Premiums Paid subject to a minimum of 105% of Total Premiums Paid; options without ROP may terminate with no further benefits after the applicable annuity payments.","display":"Varies by annuity option; ROP options pay Proportion x Total Premiums Paid or Purchase Price; deferred-period death benefit is at least 105% of Total Premiums Paid","note":"Option A immediate annuity and some post-deferment cases terminate with no further benefits; Option C pays annuity instalments to the end of the certain period if death occurs during that period.","quote":"On the death of the Annuitant and provided the Policy is in force then, the Death Benefit payable shall be Proportion x Total Premiums Paid. ... During Deferment Period: The Death Benefit payable is percentage of Total Premiums Paid; the percentages are provided on Company’s website, subject to a minimum of 105% of Total Premiums Paid as on date of death of the Annuitant. ... On the death of the Last Survivor, the Death Benefit will be Proportion x Total Premiums Paid. ... If the SB in Sub-Section (7)(ii) above has NOT been paid, the Death Benefit will be the 100% of the Purchase Price,","sources":[{"clause":"4(a)","heading":null,"page":11,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-4-a"}],"law":[]},{"key":"maturity_benefit","label":"Maturity benefit","section":"Cover","meaning":"What you get if you survive to the end of the term.","status":"not-applicable","value":null,"display":null,"note":"This is an annuity plan with annuity, survival and death benefits; it does not have a conventional maturity benefit payable at the end of a fixed policy term.","quote":null,"sources":[],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"not-stated","value":null,"display":null,"note":"The document says the Premium Paying Term is specified in the Schedule, but the extracted wording does not state the available term lengths.","quote":null,"sources":[],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"not-stated","value":null,"display":null,"note":"No maximum maturity age is stated in the extracted wording.","quote":null,"sources":[],"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":"Under a deferred annuity policy during the deferment period, if death of the annuitant or last survivor is due to suicide within 12 months from the date of commencement of risk or latest revival, whichever is later, the higher of 80% of Total Premiums Paid or surrender value on the date of death is paid, provided the policy is in force. During the annuity period under a deferred annuity policy and under an immediate annuity policy, the suicide clause is not applicable.","display":"Deferred annuity during deferment: higher of 80% of Total Premiums Paid or Surrender Value if suicide within 12 months","note":null,"quote":"If the death of the Annuitant or the death of the Last Survivor is due to suicide within 12 months from the Date of Commencement of Risk or the date of latest revival of the Policy, whichever is later, the higher of 80% of the Total Premiums Paid or the Surrender Value as on the date of death will be paid as the Death Benefit, provided the Policy is in force. ... Under a Deferred Annuity Policy during the Annuity Period or under an Immediate Annuity Policy, suicide clause or any other exclusion is not applicable.","sources":[{"clause":"12(a)","heading":null,"page":20,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-12-a"},{"clause":"12(b)","heading":null,"page":20,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-12-b"}],"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 after it has acquired surrender value. It acquires surrender value any time after single premium for immediate or single-premium deferred annuity; after one full year's premium for regular-premium deferred annuity with PPT less than 5 years; and after receipt of one full policy year's regular premiums for regular-premium deferred annuity with PPT 5 years or more, with deferment-period value being the higher of GSV or SSV.","display":"Surrender after acquiring surrender value; single premium: any time after payment; regular deferred: after one full year's premium/first policy year; value during deferment is higher of GSV or SSV","note":"Surrender during the annuity period applies only under annuity options B, F, G, H and I.","quote":"The Policyholder/Annuitant will have the option to surrender his Policy after it has acquired Surrender Value. ... Any time after the payment of the Single Premium, in an Immediate Annuity Policy or in a Single Premium Deferred Annuity Policy ... After payment of one full years’ premium in a Regular Premium Deferred Annuity with Premium Paying Term of less than 5 years and shall become payable immediately after receipt of first full year premium. ... After receipt of one (1) full Policy Years’ Regular Premiums in a Regular Premium Deferred Annuity Policy with Premium Paying Term 5 years or more and shall become payable after completion of first Policy year. ... On Surrender during the Deferment Period, the Surrender Value will be the higher of the Guaranteed Surrender Value (GSV) or the Special Surrender Value (SSV).","sources":[{"clause":"8","heading":"Surrender Value","page":18,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-8"},{"clause":"8(i)","heading":null,"page":18,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-8-i"},{"clause":"8(ii)","heading":null,"page":18,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-8-ii"},{"clause":"8(iii)","heading":null,"page":18,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-8-iii"},{"clause":"8(a)","heading":null,"page":18,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-8-a"}],"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":"quote-verified","value":"For regular premium policies, if at least one full year's premium is not paid, the policy lapses after grace period with no benefit. A policy that has acquired surrender value does not lapse for non-payment of future premiums and is converted to paid-up; paid-up annuity and survival benefit are reduced in proportion to premiums paid versus premiums payable.","display":"Regular premium policy becomes paid-up after acquiring surrender value; benefits reduce by premiums paid / premiums payable","note":null,"quote":"(Applicable only w.r.t. Regular Premium Policy)\na) If at least one (1) full years’ Premium is not paid, the Policy will, immediately & automatically, lapse at the expiry of the Grace period, and no benefit will be payable under the Policy.\nb) A Policy which has acquired Surrender Value shall not lapse by reason of the non-payment of future Premiums, instead the Policy will be, immediately & automatically, converted to a paid-up Policy at the expiry of the Grace Period. ... The paid-up annuity & Paidup Survival Benefit is obtained by multiplying Annuity Amount & Survival Benefit Amount, respectively, by a factor equal to the proportion of the number of Premiums paid to the total number of Premiums payable under the Policy.","sources":[{"clause":"6","heading":"Non-payment of Premium, Paid up benefits","page":17,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-6"},{"clause":"6(b)(i)","heading":null,"page":17,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-6-b-i"}],"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 lapsed or paid-up policy may be revived within the revival period, which is five years from the due date of the first unpaid regular premium, subject to written application, payment of arrears with interest and taxes, evidence of continuity of insurability and written acceptance by the company.","display":"Within 5 years from first unpaid regular premium, subject to conditions","note":"Current applicable revival interest is stated as 10% p.a. compounded half-yearly.","quote":"‘Revival Period’ means a period of five (5) years from the due date of the first unpaid Regular Premium. ... A Policy which has lapsed/Paid-up as per Section 6) above, may be revived, subject to the following conditions: ... A written application for revival is received from the Policyholder by the Company within the Revival Period. ... The arrears of Regular Premium together with interest, at such rate as the Company may decide from time to time along with applicable taxes are paid. ... The Policyholder, at his own expense, furnishes evidence of continuity of insurability. ... The revival will only be effective when the Company has specifically communicated the same in writing to the Policyholder.","sources":[{"clause":"1(ii)","heading":null,"page":6,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-1-ii"},{"clause":"7","heading":"Revival","page":17,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-7"},{"clause":"7(a)","heading":null,"page":17,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-7-a"},{"clause":"7(b)","heading":null,"page":17,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-7-b"},{"clause":"7(c)","heading":null,"page":17,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-7-c"},{"clause":"7(d)","heading":null,"page":17,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-7-d"}],"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":"quote-verified","value":"Policy loan is available if the policyholder has opted for annuity with return of purchase price under Option B, F, G or H and the policy has acquired surrender value. The maximum loan is up to 80% of surrender value; loan and interest are deducted on death or surrender, and the current loan interest is 10% p.a. compounding half-yearly.","display":"Available for ROP Options B, F, G or H after surrender value; up to 80% of surrender value","note":null,"quote":"Provided the policyholder has opted for Annuity with Return of Purchase Price (Option B, F, G or H) and policy has acquired Surrender Value, the policyholder will have the option to take policy loan, subject to the following: ... Maximum amount of loan allowed shall be up to 80% of the Surrender Value under the policy. ... On death or surrender, the outstanding policy loan plus interest, will be deducted from the death / surrender value payable. Each annuity payment will be adjusted for the loan interest. ... Currently the rate of interest for loan is 10% p.a. compounding half-yearly.","sources":[{"clause":"11","heading":"Policy Loan","page":20,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-11"},{"clause":"11(i)","heading":null,"page":20,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-11-i"},{"clause":"11(ii)","heading":null,"page":20,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-11-ii"},{"clause":"11(b)","heading":null,"page":20,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-11-b"}],"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 extracted wording does not list any optional riders.","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":"quote-verified","value":"No life insurance policy can be called in question on any ground after three years from the relevant date. Within three years, it may be called in question on the ground of fraud or material misstatement/suppression, with grounds and materials communicated; for non-fraud misstatement, collected premiums are paid within 90 days from repudiation.","display":"Cannot be questioned after 3 years; within 3 years for fraud or material misstatement with grounds/materials","note":null,"quote":"No Policy of life insurance shall be called in question on any ground whatsoever after expiry of three (3) years from (a) the Policy Commencement Date or (b) the Date of Commencement of Risk or (c) the date of latest revival of the Policy or (d) the Date of Commencement of Rider; whichever is later. ... On the ground of fraud, a Policy of life insurance may be called in question within three (3) years from ... Life insurance Policy can be called in question within three (3) years on the ground that any statement of or suppression of a fact material to expectancy of life of the Life Assured or Policyholder was incorrectly made in the Proposal Form or other documents, basis which Policy was issued or revived, or Rider issued. ... In case repudiation is on ground of misstatement and not on fraud, the premium(s) collected on Policy till the date of repudiation shall be paid to the Policyholder or legal representative or Nominee or assignees of Policyholder, within a period of 90 days from the date of repudiation.","sources":[{"clause":"1","heading":null,"page":30,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-1-4"},{"clause":"2","heading":null,"page":30,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-2-4"},{"clause":"6","heading":null,"page":30,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-6-4"},{"clause":"7","heading":null,"page":30,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-7-4"}],"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":"quote-verified","value":"Tax laws are subject to change; taxes including GST and cess are charged extra and are the policyholder's responsibility. The company does not warrant that buying the policy makes the policyholder eligible for any income-tax or other tax rebate or relief, and annuity proceeds are taxable as per applicable tax laws.","display":"No warranty of tax rebate or relief; annuity proceeds taxable as per applicable tax laws","note":null,"quote":"Tax laws are subject to change. All taxes, including applicable GST & cess, either existing or those that may apply in future (including enhancements of existing taxes) will be charged extra. Payment of such taxes shall be the responsibility of the Policyholder The Company does not provide any warranty or assurance that the Policyholder will be, by virtue of purchasing this Policy, eligible for any income tax or other tax rebate or relief.\nThe annuity proceeds are taxable as per applicable tax laws as amended from time to time.","sources":[{"clause":null,"heading":null,"page":1,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-s1"}],"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":"Not available for policies with tenure of less than a year.","quote":"Every Policyholder except for those policies with tenure of less than a year 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.","sources":[{"clause":"5","heading":"Free Look Period","page":16,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-5"}],"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":15},"display":"15 days for monthly; 30 days for other than monthly","note":"Applies to regular premium payments.","quote":"‘Grace Period’ means a period of fifteen (15) days for a monthly Premium Payment Frequency and thirty (30) days for any Premium Payment Frequency other than monthly Premium Payment Frequency, from the due date of Regular Premium payment, without any late fee, during which time the Policy is considered to be in-force with the risk cover without any interruption as per the Policy terms and conditions.","sources":[{"clause":"1(ii)","heading":null,"page":6,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-1-ii"}],"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 extracted wording does not state the minimum and maximum entry ages.","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":"not-stated","value":null,"display":null,"note":"The policy schedule contains Premium Payment Frequency, but the extracted wording does not list the allowed premium payment modes.","quote":null,"sources":[],"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":["Single Premium","Regular Premium"],"display":"Single Premium; Regular Premium","note":null,"quote":"‘Premium’ refers to the Single Premium or Regular Premium, as applicable under the Policy. ... Single Premium\n i) If the Policy is a Single Premium Policy, then, the Single Premium specified in the Schedule, along with applicable taxes, must be received in full at the Policy Commencement Date. ... Regular Premium\n i) Regular Premium, along with applicable taxes, is payable in full on the Due Dates of Premium specified in the Schedule or within the Grace Period allowed, during the Premium Paying Term.","sources":[{"clause":"1(ii)","heading":null,"page":6,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-1-ii"},{"clause":"3","heading":"Premium","page":10,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-3"}],"law":[]},{"key":"annuity_options","label":"Annuity options","section":"Cover","meaning":"Life annuity, joint life, return of purchase price, increasing annuity...","status":"quote-verified","value":["Annuity Option A: Life annuity","Annuity Option B: Life annuity with Return of Purchase Price","Annuity Option C: Annuity for Certain Period and life thereafter","Annuity Option D: Joint Life Last Survivor with 50% of annuity to Spouse","Annuity Option E: Joint Life Last Survivor with 100% of annuity to Spouse","Annuity Option F: Joint Life Last Survivor with 100% of annuity to Spouse and Return of Purchase Price on death of Last Survivor","Annuity Option G: Life annuity with Return of Purchase Price on death or survival","Annuity Option H: Life annuity with Return of Purchase Price on death or in instalments on survival","Annuity Option I: Family Pension (Only for NPS subscribers)"],"display":"Options A to I: life annuity, ROP, certain period, joint life 50%/100%, joint life with ROP, ROP on death or survival, ROP in instalments on survival, and NPS family pension","note":"Some options are not available under deferred annuity or are restricted to NPS subscribers as stated in the option clauses.","quote":"i) Annuity Option A: Life annuity – The annuity is paid to the Annuitant as long as he is alive. ... ii) Annuity Option B: Life annuity with Return of Purchase Price – The annuity is paid to the Annuitant as long as he is alive. ... iii) Annuity Option C: Annuity for Certain Period and life thereafter – Annuity Instalment will be paid for the Certain Period to the Annuitant, or on the death of the Annuitant, to the Claimant, as may be applicable. ... iv) Annuity Option D: Joint Life Last Survivor with 50% of annuity to Spouse – The Annuity Instalment is paid to the Annuitant as long as he is alive. ... v) Annuity Option E: Joint Life Last Survivor with 100% of annuity to Spouse –The Annuity Instalment is paid up to the death of the Last Survivor out of the joint lives (the Annuitant and Spouse) covered under the Policy. ... vi) Annuity Option F: Joint Life Last Survivor with 100% of annuity to Spouse and Return of Purchase Price on death of Last Survivor – The Annuity Instalment is paid up to the death of the Last Survivor out of the joint lives (the Annuitant and Spouse) covered under the Policy. ... vii) Annuity Option G: Life annuity with Return of Purchase Price on death or survival – The Annuity Instalment will be paid through-out the life of the Annuitant. ... viii) Annuity Option H: Life annuity with Return of Purchase Price on death or in instalments on survival\n– The Annuity Instalment will be paid through-out the life of the Annuitant. ... ix) Annuity Option I: Family Pension (Only for NPS subscribers) – (1) Life annuity shall be payable to the Annuitant and his Spouse as per the Annuity Option, Option F (Joint Life Last Survivor with 100% of Annuity Instalment to Spouse & with ROP).","sources":[{"clause":"2(e)(i)","heading":"Annuity Option A","page":8,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-2-e-i"},{"clause":"2(e)(ii)","heading":"Annuity Option B","page":8,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-2-e-ii"},{"clause":"2(e)(iii)","heading":"Annuity Option C","page":8,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-2-e-iii"},{"clause":"2(e)(iv)","heading":"Annuity Option D","page":8,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-2-e-iv"},{"clause":"2(e)(v)","heading":"Annuity Option E","page":9,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-2-e-v"},{"clause":"2(e)(vi)","heading":"Annuity Option F","page":9,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-2-e-vi"},{"clause":"2(e)(vii)","heading":"Annuity Option G","page":9,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-2-e-vii"},{"clause":"2(e)(viii)","heading":"Annuity Option H","page":9,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-2-e-viii"},{"clause":"2(e)(ix)","heading":"Annuity Option I","page":10,"url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/4013#c-2-e-ix"}],"law":[]},{"key":"purchase_price_min","label":"Minimum purchase price","section":"Eligibility","meaning":"Smallest lump sum or annuity accepted.","status":"not-stated","value":null,"display":null,"note":"The extracted wording defines Purchase Price but does not state a minimum purchase price or minimum annuity.","quote":null,"sources":[],"law":[]},{"key":"deferment","label":"Deferment period","section":"Cover","meaning":"For deferred plans, how long before income starts.","status":"not-stated","value":null,"display":null,"note":"The document says Deferment Period is specified in the Schedule, but the extracted wording does not state the 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Information Sheet","pages":5,"fetched_at":"2026-10-17 19:33:26+00","source_url":"https://www.bajajlifeinsurance.com/content/dam/balic-web/pdf/retirement-plans/GPG-CIS.pdf","url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/3461"},{"kind":"brochure","label":"Prospectus / Brochure","pages":21,"fetched_at":"2026-10-17 19:33:38+00","source_url":"https://www.bajajlifeinsurance.com/content/dam/balic-web/pdf/retirement-plans/gpg-ii-sl.pdf","url":"https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10/document/3500"}],"versions":[{"uin":"116N187V01","version":null,"approved_on":null},{"uin":"116N187V11","version":null,"approved_on":null},{"uin":"116N187V08","version":null,"approved_on":null},{"uin":"116N187V09","version":null,"approved_on":null},{"uin":"116N187V10","version":null,"approved_on":null}],"where_to_buy":[{"purpose":"buy","kind":"insurer","name":"Bajaj Life Insurance official website","url":"https://www.bajajlifeinsurance.com/","note":"Buy directly from the insurer."},{"purpose":"buy","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."}],"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 Guaranteed Pension Goal II (UIN 116N187V10), IndiaInsurances, https://indiainsurances.com/policy/bajaj-life-insurance/bajaj-life-guaranteed-pension-goal-ii-116n187v10"}