Bajaj Allianz launches retirement solution 'CashRich'

MUMBAI: Private insurer Bajaj Allianz today launched a unique retirement solution, CashRich, an endowment as well as a money-back plan policy.

CashRich also offers an accumulated compound reversionary bonus payable at the end of the premium payment term, which can be timed with one's retirement date, Bajaj Allianz said in a release issued here.

It also provides guaranteed regular payouts after retirement, a cash back benefit of 5 per cent of the sum assured plus cash bonus, is payable every year till the maturity date.

The policy also offers continued life cover across the term of the policy and tax-free payouts.

Bajaj Allianz is a joint venture between Allianz SE, the world's leading insurer and Bajaj Finserv (recently demerged from Bajaj Auto Limited, one of India's most respected names).