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Bajaj Allianz Life Insurance is one of India’s top insurance companies, offering various plans to meet different needs. It started in August 2001 as a partnership between Bajaj Finserv Limited and Allianz SE.
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With 544 branches and over 153,990 agents across the country, along with strong ties to banks like AXIS, Bandhan, and IDFC First, Bajaj Allianz makes it easy for customers to find the right coverage. Their insurance plans are designed to protect families and ensure a secure future, helping to safeguard against life’s uncertainties. With a focus on customer care, Bajaj Allianz aims to provide peace of mind for you and your loved ones.
Term Plans
Bajaj Allianz Limited is a partnership between Bajaj Finance Limited and Allianz SE. It's a renowned name in the insurance industry, providing a variety of life and general insurance products along with outstanding service and post-sales assistance. Bajaj Allianz Life Insurance offers a broad range of affordable insurance solutions tailored to individual requirements.
Let’s learn more about the Bajaj Life Insurance policy offered by the company.
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| Claim Settlement Ratio (F.Y. 2023-24) | 99.23% |
| Solvency Ratio (F.Y. 2023-24) | 432% |
| Number of Lives Covered | 4.19 Crore |
| Assets Under Management | 1,16,966 Crore |
Below are the reasons why you should consider buying a Bajaj Life Insurance policy:
Financial Protection: Bajaj Allianz Life Insurance offers pure life insurance coverage to protect you and your loved ones in case of unexpected events like illness, disability, or death.
Wealth Creation: In addition to pure life insurance cover, Bajaj Allianz also provides wealth creation benefits that allow you and your family to fulfill all your financial goals in the long run.
Flexible Death Benefit Payout Mode: You can receive the maturity benefit of your Bajaj Life Insurance policy as a lump sum payment or in installments, depending on what suits you best.
Affordable Premiums: Bajaj Allianz Life Insurance offers comprehensive plans, such as term life insurance plans, at very affordable premium rates so you can financially secure your family without any hassle.
High Claim Settlement Ratio (CSR): Bajaj Allianz Life Insurance has one of the country's highest CSRs among all insurers. This implies that the insurer was able to settle a very high number of claims in that year.
Tax Benefits: Buying a Bajaj Life Insurance policy can also provide you with tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961. Therefore, you can not only secure your financial future but also enjoy the tax benefits, making Bajaj Allianz Life Insurance a smart choice for your insurance needs.
The various life insurance policies in multiple segments offered by Bajaj Allianz Life Insurance are as follows:
Term Insurance Plans
ULIP Plans
Savings Plans
Investment Plans
Retirement Plans
Child Plans
Below mentioned are the Bajaj Life Insurance Policy:
Bajaj Allianz Term Insurance Plan offers financial security and protection for your loved ones through affordable premiums and customisable life insurance coverage options. You can use a term insurance premium calculator to check the applicable Bajaj term insurance premiums for your profile. Below mentioned are the Bajaj Allianz Term Insurance plans:
| Bajaj Life Insurance Policy | Entry Age | Maturity Age | Sum Assured | |
| Bajaj Allianz eTouch II | 18 to 55 years | 28 to 99 years | Rs. 50 Lakhs to 10 Crores | |
| Bajaj Allianz iSecure | 18 to 65 years | 28 to 85 years | Rs. 25 to 50 Lakhs | |
| Bajaj Allianz Saral Jeevan Bima | 18 to 65 years | 70 years | Rs. 5 to 25 Lakhs |
Protection against death, terminal illness, and disability
Choose from 3 premium payment terms
Free benefits up to ₹31,000 per year
Option to pause premiums for 1, 2, or 3 years
Tax benefits up to ₹46,800
You can exit the Bajaj Allianz Life eTouch Online Term Plan between ages 60 and 64 (minimum policy term is 68 years) and benefit from No Cost Term Insurance.
Cost-effective level term cover, particularly for larger sum assured.
Enjoy special premium rates as a non-smoker with a healthy lifestyle, if applicable.
Get extra benefits from attractive rebates to select a higher sum assured.
There is the flexibility to choose your policy term and alter premium payment frequency.
Add your spouse to the policy and secure them for the future.
Opt for installment payments to meet recurring expenses for your loved ones.
Get coverage for accidental death after a waiting period of only 45 days from the start date.
If the policyholder dies during the waiting period for any reason other than an accident, only the premiums received (excluding taxes) will be paid, and the sum assured will not be given.
Lump sum death benefits for accidents during or after the waiting period.
Policy lapses if premium is unpaid after the grace period, except for policy cancellation value.
Policy lapses if the premium is unpaid after the grace period, except for policy cancellation value.
Policy cancellation value is applicable for certain conditions and timings.
Flexibility to change premium payment frequency on policy anniversaries.
*Note: It is suggested that you first know what is term insurance and what its key features are before you buy term plan from Bajaj Allianz Life Insurance.
Bajaj Allianz ULIP Plans provide a combination of investment and insurance, allowing you to grow your wealth while securing your family's future. Below mentioned are the Bajaj Allianz ULIP plans that help you provide life insurance cover:
| Bajaj Life Insurance Policy | Entry Age | Maturity Age | Policy Term | |
| Bajaj Allianz Invest Protect Goal | 18 - 60 years | 100 years | 20 - 40 years | |
| Bajaj Allianz Goal Assure II | 0 - 60 years | 75 years | 5, 10, 15, 20 years | |
| Bajaj Allianz Smart Wealth Goal III | 0 - 60 years | 99 years | 10 - 60 years | |
| Bajaj Allianz Future Gain II | 1 - 60 years | 70 years | 10 - 30 years | |
| Bajaj Allianz Goal-Based Saving II | 0 to 60 years | 75 years | 10, 15, 20 years |
Loyalty Advantage: Reward for regular premium payments with extra units at specific policy years.
Return of Premium Allocation Charge: Charges added back after 10th policy year for regular/limited premiums.
Return of Mortality Charge: Mortality charges returned during the policy term.
Fund Maintenance Booster (FMB): FMB added to Regular Premium Fund Value if Total Fund Value falls below one Annualized Premium from 4th policy year.
Death Benefit: Paid upon policyholder's death - Sum Assured, Total Fund Value, or Guaranteed Benefit.
Maturity Benefit: Paid if policyholder survives until maturity date - Total Fund Value at that time.
Death Benefit: Lump sum payout upon policyholder's death - Higher of Sum Assured% or Fund Value.
Return of Mortality Charge (ROMC): Total mortality charges deducted added back at policy term end.
Fund Booster: Added to Regular Premium Fund Value at maturity, subject to all premiums paid.
Loyalty Additions: From 6th year onwards, Loyalty Additions to Regular Premium Fund Value.
Surrender Benefit: Option to surrender policy anytime.
Portfolio Strategies: The plan offers four unique portfolio strategies that you can choose from when starting your policy:
Investor Selectable Portfolio Strategy
Wheel of Life Portfolio Strategy
Trigger Based Portfolio Strategy
Auto Transfer Portfolio Strategy
Loyalty Benefits with Periodical Money Backs:
Fund Boosters
Return of Allocation Charge (ROAC)
Return of Mortality Charge (ROMC)
Option to receive Maturity Benefit or Death Benefit in installments with Return Enhancer
Choice of five (5) investment portfolio strategies
Choice of thirteen (13) Funds
Option to reduce the Premium
Option to increase Premium paying term
Tax benefits may apply as per prevailing tax laws
Max premium allocation: Maximize investment growth with a significant portion of payment.
2 investment strategies: Choose from 2 approaches with unique risks.
15 funds to invest: Pick from 15 funds with various objectives and risks.
Partial withdrawals allowed: Withdraw from funds for emergencies.
Top-up premiums: Add extra premiums for more savings and coverage.
Return of Mortality Charges at Maturity (ROMC): For Regular/Limited Premium policies.
Settlement Option with Return Enhancer: Choose this option for added benefits.
Partial Withdrawals: Access funds through partial withdrawals.
Top-Up Premium: Option to pay additional premiums.
Premium Reduction: Choose to reduce your premium.
Fund Choices: Select from 15 different funds.
Payment Options: Choose between regular, limited, and single premium payments.
Premium Payment Term Flexibility: Option to change your premium payment term.
*Note: In case you have any doubt regarding your term plan, you can contact the insurance advisor to solve your queries.
Bajaj Allianz provides a variety of savings plans that help customers get their required life insurance cover and protect their loved ones.
| Bajaj Life Insurance Policy | Entry Age | Maturity Age | Policy Term | |
| Bajaj Allianz Life Assured Wealth Goal Platinum | 1 - 60 years | 77 years | 5 - 17 years | |
| Bajaj Allianz Life ACE | 0 to 60 years | 100 years | 10 - (100 - entry age) years | |
| Bajaj Allianz Flexi Income Goal - Income Benefit | 0 to 55 years | 99 years | PPT + 12 year - (99 - entry age) years | |
| Bajaj Allianz Guaranteed Saving Goal | 0 to 60 years | 80 years | 5 - 20 years | |
| Bajaj Allianz Super Life Assure | 0 - 55 years | 70 years | 12 - 20 years |
Financial protection for your family
The guaranteed death benefit on the death of the policyholder
Liquidity begins in 2nd policy year
Tax benefits as per the prevailing tax laws
Choose if you want income in a lump sum, monthly benefit, or both
Get protection for up to 100 years
Pay premiums for a limited period of 5 - 12 years
Claim tax benefits as per prevailing tax laws
Choose the frequency and duration of the income
150% of the Sum Assured as a Guaranteed Benefit
Survival Benefits:
100% of the Sum Assured as Guaranteed Monthly Income (GMI) from the end of PPT till Policy maturity
Get 50% of Sum Assured as a booster at maturity
Choose to receive or accumulate Survival Benefits with Investment Return
Option for Joint Life insurance Cover
Choose from 2 sum assured options
Option to choose from multiple policy terms
Larger maturity benefit for female customers
Get Guaranteed Maturity Benefits, including Guaranteed Enhancer
Claim tax benefits as per prevailing tax laws
Choose from 2 plan variants: Super and Life
Special rates for female customers
Enhance cover with rider benefits
Get bonuses year after year to enhance savings
Income benefit provides monthly income in case of unfortunate death
Bajaj Allianz Investment & Savings Plans offer opportunities to grow your savings while ensuring financial security for your future goals. Below mentioned are the Bajaj Allianz Investment and Savings plans:
| Bajaj Life Insurance Policy | Entry Age | Maturity Age | Policy Term | |
| Bajaj Allianz Flexi Income Goal - Enhanced Benefit | 0 - 55 years | 80 years | 12 - 25 years | |
| Bajaj Allianz Invest Assure | 0 - 50 years | 70 years | 15 - 40 years | |
| Bajaj Allianz Elite Assure | 0 - 55 years | 70 years | 15, 20, 25, 30 years | |
| Bajaj Allianz My Wealth Goal | 10 - 55 years | - | (100 - entry age) years | |
| Bajaj Allianz Capital Goal Suraksha | 18 - 55 years | 65 years | 10, 15 years |
250% sum assured as a guaranteed benefit
Survival Benefits:
50% of Sum Assured at the end of PPT as Lumpsum
100% of Sum Assured as Guaranteed Monthly Income (GMI) from the end of PPT till Policy maturity
Receive 100% of sum assured on maturity as lump sum
Equity exposure upto 40%
Choose joint life insurance cover to cover your spouse
Choose 1.25 times or 2 times Sum Assured as life cover
Compound reversionary bonus and terminal bonus included
Limited premium payment term
High sum assured rebate (HSAR) for better value
Option to enhance coverage with rider benefits
Option to receive death benefit as monthly installments
Ideal balance of life insurance cover and excellent ROI
Accrued Guaranteed Loyalty Additions up to 315% of Guaranteed Maturity Benefit, based on premium payment term
Choice of 4 policy terms: 15, 20, 25, and 30 years
Option for regular and limited premium payment terms
Option to enhance coverage with rider benefits
Lifelong Coverage: Continuous insurance protection for life.
Lifelong Income: Steady income throughout retirement.
Multiple Portfolio Strategies/Fund Choices: Diverse investment options.
Tax Benefit under ITA 1961: Tax advantages for enhanced returns.
Guaranteed Returns along with Life Insurance Coverage
Easy Application Process
Potential for Improved Returns
Choice of Limited Premium Payment Term
Eligibility for Tax Benefits under ITA 1961
Bajaj Allianz Retirement Plans help you build a secure financial nest for your retirement years, ensuring a comfortable and stress-free future. Below mentioned are the Bajaj Allianz Retirement plans:
| Bajaj Life Insurance Policy | Entry Age | Maturity Age | Annuity Amount | |
| Bajaj Allianz Guaranteed Pension Goal | 30 to 85 years (immediate) 45 to 84 years (deferred) | — | Min: Yearly: Rs. 12,000 Half yearly: Rs. 6,000 Quarterly: Rs. 3,000 Monthly: Rs. 1,000 Max: No Limit |
|
| Bajaj Allianz Saral Pension | 40 to 80 years | — | Min: Yearly: Rs. 12,000 Half yearly: Rs. 6,000 Quarterly: Rs. 3,000 Monthly: Rs. 1,000 Max: No Limit |
Guaranteed lifetime income with flexible payout intervals.
Various annuity options to match your lifestyle goals.
Choose when your annuity starts.
Secure your family's financial future with joint life annuity options.
Option to receive the purchase price back upon death or as a survival benefit.
Lifelong guaranteed regular income
Flexibility in annuity payments: Monthly, quarterly, half-yearly, or annually
Legacy protection: Purchase Price (ROP) paid to nominee on death
Family-oriented option: Joint life option for regular income for both lives
Easy liquidity through loan access
Additional benefit: Liquidity on diagnosis of Critical Illness
Bajaj Allianz Child Insurance Plans safeguard your child's future by providing financial support for their education and other life milestones. Below mentioned are the Bajaj Allianz Child Insurance plans:
| Bajaj Life Insurance Policy | Entry Age | Maturity Age | Policy Term | |
| Bajaj Allianz Life Assured Wealth Goal | 0 to 65 years | 99 years | 5 - (99 - age at entry) years | |
| Bajaj Allianz Young Assure | 18 to 50 years | 60 years | 10, 15, 20 years | |
| Bajaj Allianz Lifelong Assure | 10 to 55 years | — | (100 - age at entry) years |
The plan offers a life insurance cover for your family’s financial protection
You can easily select the dates you want to receive the payouts
Choose from 6 variants of the plan as per your and your family’s needs
Flexible income period for you to choose when you want to recevie the Regular Guaranteed Payouts
All the benefits offered under the plan are guaranteed
Flexible premium payment and policy term choices to meet financial needs for events like child's education or marriage.
Guaranteed Maturity Benefit (GMB), Guaranteed Additions (GA), and bonuses for attractive returns.
3 Cash Installment Options for future financial needs.
Comprehensive coverage for death or accidental disability.
Ability to boost coverage with rider benefits.
Special rates available for female policyholders.
Cash Bonus (if any) starting from 6th year
Guaranteed Cash Back starting from the end of Premium Payment Term
Life insurance cover up to age 100
Guaranteed Death Benefit up to 300% of Sum Assured based on chosen PPT
Option for death benefit in monthly installments
Choice of 3 Premium Payment Terms: 10, 15, and 20 years
High sum assured rebate for more value
Premium rebate for female policyholders
Option to enhance coverage with rider benefits
You can check the Bajaj Allianz life insurance policy details in the following ways:
Log in to the Official Website
You can login to your policy account online and access the Bajaj Allianz policy details on the go.
Request a Callback
You can check your Bajaj Allianz policy details by requesting a callback from the company’s customer support by going to the official website and submitting your name and phone number.
Call the Customer Service
You can give a call on the company’s customer service helpline number: 1800-209-7272 and get the latest information on the Bajaj Allianz Life insurance policy details.
Visit the Nearest Branch
You can look up the nearest company branch to get check your Bajaj Allianz policy details offline.
Here are the exclusions in the Bajaj Life Insurance Policy:
Suicide: If the policyholder commits suicide within 12 months of buying the policy, his/her nominees will not be able to claim the Bajaj Life Insurance death benefit.
Below are the steps to buy Bajaj Allianz Life Insurance:
Step 1: Visit the official Policybazaar website and go to the life insurance page.
Step 2: Select the type of insurance you want to buy and provide your name, contact details, gender, and date of birth.
Step 3: Enter the information regarding your job type, yearly income, educational qualifications, and smoking/tobacco consumption habits.
Step 4: Choose Bajaj Allianz Life Insurance term plans from the list of term insurance plans that appears.
Step 5: Pay using your preferred mode to complete the process.
*Note: You can use the term insurance calculator to calculate your term insurance premium amount of your chosen Bajaj Allianz Life Insurance plan.
The claim process of Bajaj Allianz Life Insurance follows the death of the policyholder, after which the nominee/claimant can go ahead to claim the death benefit. Below mentioned are the detailed steps that determine the processing of the claim:
After the policyholder's death, the nominee can initiate the claim process by submitting the required documents to the head office/bank branches/nearest offices or by Email, together with a proof of identification and the address proof of the nominee. The death form can be found in both online and offline mode from the company’s website and branch offices respectively.
The nominee also needs to submit the necessary documents along (as requested by the insurer) with the death claim form to verify the information provided to the insurance company regarding the death of the policyholder.
After receiving all of the required documents and forms, the claim starts getting processed. Bajaj Allianz Life Insurance also checks and verifies the documents in accordance with the requirements, makes a decision (subject to T&C), and communicates the same to the claimant/nominee.
To contact Bajaj Allianz Life Insurance, you have several options:
WhatsApp Service: You can get prompt policy-related services 24/7 by sending a 'HI' to 8806727272 on WhatsApp.
Call Center: You can call their customer service at the provided helpline number for direct assistance.
Mobile App: Download the Life Assist app from the Apple Store or Google Play for easy access to your policy details, premium payments, and more.
Branch Visit: Locate your nearest Bajaj Allianz Life Insurance branch for in-person assistance.
Make sure to have your policy number and personal details ready for a quicker response!
You can then submit the completed form and documents to a Bajaj Allianz branch office or mail them to their corporate address.
Here is the shortest answer with a little explanation:
Fill out a policy cancellation form and submit it to Bajaj Allianz, with copies of your policy document, PAN card, and bank statement.
Fraud: If the insurance company suspects that you are filing a fraudulent claim, they will investigate the claim thoroughly. If they find evidence of fraud, they will reject your claim.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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