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  • Bajaj Allianz Life Insurance

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    Plan Benefits

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    Bajaj Allianz is a joint venture between Bajaj Finserv Limited and European financial services company Allianz SE. The insurer offers a varied insurance product portfolio with a range of benefits in an effort to provide financial security to their customers. A few types of insurance products offered by the insurer include term insurance plans, endowment plans, ULIPs, child insurance plans, micro insurance plans, group insurance plans, etc. By combining global expertise with local experience, the company provides clients with customised products and transparent benefits, catering to every segment and age-income profile.


    Key Highlights of Bajaj Allianz Life Insurance

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     Bajaj Allianz Insurance 1 Cr Life cover plan

    1 Crore Life Cover

    Get 1 Cr Life cover @ ₹ 18*/day

    Claim-settlement ratio for Bajaj Allianz Insurance

    Claim Settlement Ratio

    Claim-settlement ratio of 91.67% for year 2016-2017

    Occupation eligibility for Bajaj Allianz Insurance

    Grievances Resolved

    100.00% Grievances Settled for year 2016-2017


    To be eligible for Bajaj Allianz Life Insurance

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    Minimum age for Bajaj Allianz Life Insurance

    You should be at least 18 years old

    Maximum age for Bajaj Allianz Life Insurance

    You should be less than 60 years old

    Occupation eligibility for Bajaj Allianz Life Insurance

    You should be either Salaried, Self- employed, a professional or have your own business


    Bajaj Allianz Life Insurance at a Glance

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    Maximum tenure of Bajaj Allianz Life Insurance

    A maximum tenure of 30 years

    Maximum sum assured for Bajaj Allianz Life Insurance

    Min Sum Assured: Rs 2.5 Lakhs
    Max Sum Assured: No limit subject to underwriting

    Exclusions for Bajaj Allianz Life Insurance

    Specific exclusions: Suicide within the first 12 months


    Documentation needed to apply for an Bajaj Allianz Life Insurance

    • 1. Identity Proof
    • 2. Age Proof
    • 3. Income Proof
    • 4. Address Proof
    • 5. PAN Number

    Bajaj Allianz Life Insurance Plans Details:

    Bajaj Allianz has a number of plans tailored to suit the needs of every individual looking to secure his/her future through life insurance policies that offer maximum returns and coverage.

    Bajaj Allianz Term Insurance Plans:

    Protection Plans from Bajaj Allianz are focused at providing financial security to the policyholder’s loved ones, in case of his/her untimely death. Securing one’s family against all future mishaps is the first priority for most individuals. These plans aim to ease the financial burden on one’s dependents, in the event of an unfortunate eventuality. Listed below are the various term insurance that are offered by the insurer.

    • eTouch Online Term: The eTouch Online Term Plan from Bajaj Allianz is a pure term insurance policy that provides coverage for a specific policy term agreed upon between the policyholder and insurer, at the time of purchasing the policy.
    • iSecure: The iSecure Plan from Bajaj Allianz is a non-participating, term insurance policy that offers a high sum assured at a relatively low premium rate. The policyholder has the option of choosing an individual or joint life cover, at the time of buying this plan.
    • iSecure More:The iSecure More insurance plan is a non-participating, increasing cover, term assurance policy. This policy is similar to the iSecure plan and differs only in its offering of an enhanced life cover as the years go by. Hence, with this plan you can get an increased sum assured with each passing year.
    • iSecure Loan:As the name itself suggests, this insurance policy is meant to cover the policyholder’s loan liabilities in case of his/her untimely death. This plan ensures that the policyholder’s family does not have to struggle through any loan reimbursement hassles in case something happens to him/her.
    • Life Secure:The Life Secure Plan from Bajaj Allianz is a non-linked, whole life term insurance plan that provides 3 coverage options and a rebate upon opting for a high sum assured.
    • LifeStyle Secure:The LifeStyle Secure from Bajaj Allianz is a non-linked, non-participating, term assurance plan that comes with a built-in Terminal Illness risk cover. Under this plan, the death benefit payout is offered to the nominee as monthly instalments.
    Plan Type Minimum Basic Sum Assured Tenure
    eTouch Online Term Rs.50,00,000 10 – 40 years
    iSecure Rs.2,50,000 (general category) Rs.20,00,000 (for Non-Smoker, Preferred Non-Smoker, and Smoker categories) 10,15,20,25 & 30 years
    iSecure More Rs.2,50,000 10,15,20 & 25 years
    iSecure Loan Rs.3,00,000 10,15,20 & 25 years
    Life Secure Rs.20,00,000 100 years minus entry age
    LifeStyle Secure Rs.3,00,000 5,7,10,15 & 20 years

    Bajaj Allianz Child Insurance Plans:

    • Young Assure:The Young Assure Plan from Bajaj Allianz is a participating, limited and regular premium payment, endowment plan that offers a guaranteed maturity benefit as well as 3 cash instalment options to choose from. It also provides coverage in case the policyholder meets with an accidental death or disability.
    • Young Assure Plus Solution: The Young Assure Plus Solution from Bajaj Allianz is an insurance plan that offers a Vested Bonus, a Terminal Bonus (which will be added every 10 years), and Guaranteed Additions, in addition to the Guaranteed Maturity Benefit that is payable at maturity of the policy.
    • Lifelong Assure:The Lifelong Assure Plan from Bajaj Allianz is a non-linked, whole life plan that provides a cash bonus from the 6th policy year onwards and a guaranteed death benefit amounting to 300% of the Sum Assured amount, with the option of receiving the policy payout as monthly instalments.
    Plan Type Minimum Basic Sum Assured Tenure
    Young Assure 10 times annual premium 10,15, & 20 years
    Lifelong Assure Rs.1,00,000 100 years minus entry age

    Bajaj Allianz Savings Solutions Plans:

    Bajaj Allianz savings plans are suitable to the modern Indian lifestyle. These plans are designed to offer the customer the advantage of insurance as well as the option to save.

    • Save Assure: This plan is an individual, non-participating, limited premium, endowment policy. The policy helps you secure your family’s interest with a guaranteed payout amounting to 115% of the sum assured of your insurance policy.
    • Life Guarantee Assure: This is a non-linked, non-participating insurance plan that will help you ensure a safer future for your family whether you are around or not, by way of the policy payouts.
    • Cash Assure: The Cash Assure Plan from Bajaj Allianz is a traditional, money-back insurance policy, which provides guaranteed returns up to 150% of the sum assured amount, throughout the policy tenure.
    • Super Life Assure: This is a traditional endowment plan that provides policyholders the dual benefit of a savings option and a comprehensive risk cover. The policy comes in 2 variants, and the policy buyer has the option of purchasing riders that can enhance the coverage provided by the policy.
    Plan Type Minimum Basic Sum Assured Tenure
    Save Assure Rs.1,00,000 15 & 17 years
    Life Guarantee Assure Rs.1,00,000 7,8, & 9 years
    Cash Assure Rs.1,00,000 16, 20, 24, & 28 years
    Super Life Assure Rs.1,00,000 12 – 20 years

    Bajaj Allianz Investment Solutions Plans:

    • Fortune Gain Insurance Plan: This is a unit-linked, single premium plan that gives policyholders a choice of 7 funds with the option to decrease the Sum Assured and switch investment options to gain maximum returns.
    • Invest Assure: This is a non-linked, endowment plan that provides additional coverage through rider options and offers payouts that include a compound reversionary bonus as well as a terminal bonus.
    • Elite Assure: This is a non-linked, participating limited premium endowment plan that guarantees up to 315% of the maturity benefit as loyalty additions along with additional coverage by way of the riders offered.
    Plan Type Minimum Basic Sum Assured Tenure
    Fortune Gain 1.25 times the single premium amount (for entry age less than 45 years) 1.1 times the single premium amount (for entry age more than 45 years) 7-30 years
    Invest Assure Rs.1,00,000 Silver variant: 17-40 years Gold variant: 15-40 years
    Elite Assure 10 times the annualised premium 15,20,25, & 30 years

    Bajaj Allianz Retirement Solutions:

    Bajaj Allianz retirement plans are ideal for individuals looking to secure their post-retirement years. Retirement policies will ensure a continuous flow of income for a considerable period of time. These plans are systemic saving plans that help you prepare for your retirement by organising your savings. Following are the retirement plans offered by Bajaj Allianz.

    • Retire Rich: This is a unit-linked, pension plan that offers a guaranteed vesting and guaranteed death benefit. The policy buyer can opt for a regular, limited, or single premium payment term. Premium payment terms can also be adjusted as per the customer’s choice. Premiums can be topped up too, as the case may be. Tax benefits can be applicable for premium paid, maturity benefit and death benefit. Loyalty additions are made available for terms more than 10 years.
    • Pension Guarantee: The Pension Guarantee plan from Bajaj Allianz is an immediate annuity plan, which will ensure that you continue to earn a regular income even after you have retired from your job. This plan comes with annuity options to choose from and lasts for your lifetime.
    Plan Type Minimum Basic Sum Assured Tenure
    Retire Rich As per policy brochure 7 – 30 years
    Pension Guarantee Annuity purchase price as per policy brochure As per annuity option chosen

    Bajaj Allianz ULIP Plans:

    Bajaj ULIP plans are aimed at providing not just life insurance benefit in the unfortunate event of death of the policy holder but also at providing a unit-linked scheme that offers benefits with the movement of the share market. The ULIP schemes offered by the company are:

    • Future Gain: This is a unit-linked endowment plan which ensures you obtain maximum returns at least cost. Future Gain ensures every penny of yours is utilized fully to materialise into savings and returns.
    • Fortune Gain: This is a non-participating, unit-linked, endowment insurance plan that allows policyholders to pay their premium as a one-time lump sum amount and provides 99.5% premium allocation.
    • Principal Gain: This is a guaranteed maturity, unit-linked insurance plan providing guaranteed loyalty additions upon maturity, with the option to receive them in instalments.
    • Future Wealth Gain: The Future Wealth Gain Plan from Bajaj Allianz Life is a unit-linked, endowment life insurance policy that comes in 2 variants. The policy also provides loyalty additions starting from the 10th policy year. One can also choose to receive the maturity benefit as instalments.
    Plan Type Minimum Basic Sum Assured Tenure
    Future Gain < 45 years: 10 times annualised premium/0.5 x policy term x annualised premium, based on whichever is higher >/= 45 years: 7 times annualised premium/0.25 x annualised premium x policy term, based on whichever is higher 10,15-20 years (for 5 or 6 year premium payments) 10,15-30 years (other premium payment terms)
    Fortune Gain <45 years: 1.25 times the single premium amount >/= 45 years: 1.1 times the single premium amount 7-30 years
    Principal Gain 10 times the annual premium 7-15 years
    Future Wealth Gain For individuals under 45 years of age: 10 times the annualised premium or 0.5 x Annualised Premium x Policy Tenure (based on whichever is the higher of the two) For individuals equal to or over the age of 45: 10 times the annualised premium or 0.25 x Annualised Premium x Policy Tenure (based on whichever is the higher of the two) 10 years, 15 – 25 years

    Bajaj Allianz Group Insurance Plans:

    • Jan Suraksha Yojna: This is a non-linked, non-participating micro group term insurance plan that provides coverage at an affordable cost.
    • Group Employee Care: This is a non-linked, non-participating, fund-based insurance cover that offers a guaranteed interest rate to the policyholder.
    • Pradhan Mantri Jeevan Jyoti Bima Yojana: This is a non-participating, non-linked, yearly renewable group insurance plan providing coverage without medical underwriting. This is an affordable policy that provides a risk cover on the life of the policyholder.
    • Group Term Life: This is a traditional group term insurance plan that is renewable yearly and provides basic insurance coverage to policyholders. Enrolled members can opt to receive the death benefit through either of the two payout options offered by the insurer.
    • Group Employee Benefit: This is a non-participating unit-linked, group insurance plan that enables employers to provide additional security to employees as part of welfare requirements. In addition to the risk cover offered by the plan, members also have the option to choose from up to 9 investment funds.
    • Group Term Care: This is a non-linked, non-participating, single premium group insurance plan that provides a rebate upon opting for a high sum assured. The policy also provides up to 100% of the single premium amount as maturity benefit to members.
    • Group Superannuation Secure: This is a non-linked, variable, fund-based, superannuation insurance plan that offers a minimum guaranteed interest as well as an additional interest rate. The insurer provides two plan options for this scheme.
    • Group Credit Protection Plus: This is a non-participating group insurance plan that covers loans issued by employers and also extends the cover to co-borrowers. The insurer offers both single and regular premium payment option to policyholders.
    • Group Income Protection: The Group Income Protection Plan from Bajaj Allianz Life is a policy that enables land buyers to provide a group insurance cover to landholders. This policy will provide a regular source of income by way of annuity payments and a death benefit in case the landholder meets with an untimely death.
    • Group Annuity: This is an immediate annuity policy which will enable an employer to provide a regular source of income to the members enrolled under this scheme, post their retirement. This plan comes with several plan options, and can be bought by Employer-Employee groups only.
    • Group Sampoorna Suraksha Kavach: This is a traditional, non-participating, micro-group, life insurance policy that provides a risk cover on the life of the enrolled member and also covers their loan liabilities.
    • Super Gain Group Superannuation Scheme: This is a unit-linked, group life insurance policy that can be purchased by employers to secure the post-retirement years of their employees. This is unit-linked, fund-based insurance plan, thus there is potential to earn a high rate of returns.
    Plan Type Minimum Basic Sum Assured Tenure
    Jan Suraksha Yojna Rs.10,000 per member 5 years
    Group Employee Care Rs.5,000 per member Annual renewal
    Pradhan Mantri Jeevan Jyoti Bima Yojana Rs.2,00,000 per member Annual renewal
    Group Term Life Rs.1,000 per member Annual renewal
    Group Employee Benefit Rs.5,000 per member Annual renewal
    Group Term Care Rs.1,00,000 per member 5,7 or 10 years
    Group Superannuation Scheme Rs.1,00,000 Annual renewal
    Group Credit Protection Plus Rs.10,000 Level Cover: 5 – 30 years Reducing Cover: 8 – 30 years Single Premium: 2 – 30 years
    Group Income Protection Rs.1,000 5 – 33 years (Annuity Term)
    Group Annuity Minimum Purchase price as required to secure the minimum annuity amount Annuity term as per policy brochure
    Group Sampoorna Suraksha Kavach Rs.1,000 6 – 120 months
    Super Gain Group Superannuation Scheme Rs.1,00,000 Yearly Renewable

    Bajaj Allianz Micro Insurance Plans:

    • Bima Dhan Suraksha Yojana: This is a non-linked, non-participating, micro insurance plan with premium return upon maturity. The policy also offers a risk cover to the policyholder at an affordable premium rate.
    • Bima Sanchay Yojana: This is a micro variable insurance plan that allows policyholders to partially withdraw from their policy in case of emergency liquidity needs. The policy also assures investment returns through additional interest rate as well as guaranteed interest rate.
    Plan Type Minimum Basic Sum Assured Tenure
    Bima Sanchay Yojana Premium <45 years >/= 45 years 10 & 15 years
    Regular/ Limited Premium 10 times the annualised premium 7 times the annualised premium
    Single premium 1.25 times the single premium amount 1.1 times the single premium amount
    Bima Dhan Suraksha Yojana Varies as per Premium Payment Mode, Age at Entry, and Policy Tenure 5,7, & 10 years

    Bajaj Allianz CSC Bachat Plus Plan:

    The CSC Bachat Plus Plan from Bajaj Allianz is a variable insurance plan that helps policyholders safeguard their families at a relatively affordable price. Under this plan, policyholders have the option of making partial withdrawals in case they need to meet certain emergency financial needs. The policy also offers a Guaranteed Interest Rate, Guaranteed Additional Interest Rate, and the option to change the premium payment frequency to suit their circumstances from time to time. This policy can only be purchased at CSCs or Common Service Centres.

    Plan Type Basic Sum Assured Tenure
    CSC Bachat Plus Rs.2,00,000 10 & 15 years

    Bajaj Allianz Life Insurance Claims Process:

    Filing a claim with Bajaj Allianz is a hassle-free and easy process, as the company has streamlined their claims filing process. Bajaj Allianz Life Insurance claims can be filed offline, with the claims process outlined below:

    • The customer is to visit the nearest Bajaj Allianz office with a copy of the life insured’s death certificate, an intimation letter, KYC of the nominee, original policy bond, and the bank details of the nominee.
    • The insurer will then register and acknowledge the claim. The branch would then hand over a claim form, which is to be filled in with information such as the life insured’s name, address, date of birth, policy number etc.
    • The claim form and death certificate and any other documents pertaining to the case would then be forwarded to the head office, where they will be processed and verified.
    • In case there is a need for additional requirements pertaining to claim documents or supporting documents, the same will be communicated to the nominee. The insurer has appointed a dedicated team to perform follow-ups and to assist the nominee/claimant during the claim process.
    • The insurer will make a decision only after all the original supporting documents have been received.
    • Post assessment of the claim, all approved claims will be settled by the insurer. The payout would be prepared and transferred to the claimant’s bank account.
    • Whatever claim decision has been made will be informed to the nominee/claimant by way of an SMS and a letter, which will sent to the applicant’s address.
    • In case the nominee/claimant is not satisfied with the decision given by the insurer, he/she can write to the Claims Review Committee for a review. The Claims Review Committee is headed by a retired judge.

    Bajaj Allianz Claim Settlement Ratio:

    The claim settlement ratio of Bajaj Allianz Life Insurance for the past few financial years are given in the table below:

    Year 2013-14 2014-15 2015-16
    Claim Settlement Ratio (%) 91.29 91.85 91.30
    Total Premium (in crores) 5,843.14 6,017.3 5,897.31

    Documents Required for Bajaj Allianz Life Insurance:

    The documents required to buy a Bajaj Allianz Life Insurance policy are mentioned below:

    • Passport size photograph.
    • Proof of identity: Any one of the below mentioned documents are to be submitted towards proof of identity.
      • Passport
      • PAN card
      • Voter’s identity card
      • Driving licence
      • Job card issued by NREGA, signed by a State Government officer
      • Aadhaar card
    • Proof of residence: Any one of the below mentioned documents are to be submitted towards proof of residence.
      • Bank account or post office account statement
      • Property tax or municipal tax receipt
      • Utility bills (electricity, gas, telephone) not more than 2 months old
      • Letter of allotment or accommodation from State or Central government, financial institutions or listed companies
      • Rent agreement

    Checking Bajaj Allianz Policy Status:

    Checking the policy status of a Bajaj Allianz life insurance policy can be done through different channels, depending on the policyholder’s convenience.

    Bajaj Allianz has made provision for both online as well as offline avenues through which policyholders can check the current status of their life insurance policy.

    Checking Policy Status Online:

    Policyholders can visit the Bajaj Allianz Life Insurance website and log into the Customer Portal. Once logged in, the current status of the existing policy will be displayed onscreen.

    Policyholders can alternatively check their policy status by sending an email to the Bajaj Allianz Customer Care Team, quoting their name, address, policy number, mobile number etc. The current status of the policy or any policy-related information that they are in need of will be emailed to them.

    Policyholders can also use the live chat option to get details about their policy status. At the bottom right corner of the Bajaj Allianz life insurance homepage is a ‘live chat’ tab. Upon clicking this tab, the policyholder can chat with a company representative who will provide an update on the policy status. One might have to provide details such as the name of the insured person, date of birth, policy number, etc.

    Checking Policy Status Offline:

    Policyholders can check the status of their policies offline, as well, by visiting a Bajaj Allianz insurance branch and enquiring about the current status of their policy.

    Policyholders could also call on the Bajaj Allianz toll-free number and check the status of their policy.

    Bajaj Allianz has introduced an SMS facility to check policy status and details as well. Policyholders can send an SMS, following which a company representative will call them back and address their query.

    Bajaj Allianz Online Premium Payment:

    Bajaj Allianz policyholders will no longer have to wait in queues or set reminders to deposit cheques in order to pay their premiums. Policyholders can make quick and easy online premium payments from wherever they are and ensure premium payment deadlines are not missed.

    Policyholders who wish to make online payments will have to register on the Bajaj Allianz life insurance website. The process to pay online is given below:

    • Visit the official Bajaj Allianz life insurance website and log into the Customer Portal.
    • Select the ‘Pay Your Premium’ option.
    • Enter your policy number, date of birth, email ID, and mobile number. Post this, click on the ‘Pay Premium’ option.
    • Select a payment option from the ones provided- credit card, net banking, etc.
    • On successful payment, an acknowledgement will appear on screen confirming the payment.

    Bajaj Allianz Premium Calculator:

    A life insurance policy is a long term investment that requires a significant sum of money. Often, individuals choose to pay their insurance premiums over a period of time, resulting in the need to factor in this additional cost when budgeting.

    To enable prospective policyholders to know the premium amount payable, Bajaj Allianz has designed a premium calculator.

    This calculator will present the figure that the individual will have to set aside for premium payments depending on variables such as policy term, policyholder’s age, general health, etc.

    The premium calculator also calculates the amount that will be received at the time of maturity and any additional bonus payouts, so the individual can take an informed decision when purchasing the policy.

    Depending on the policyholder’s need, Bajaj Allianz has a number of premium calculators that will compute the premiums amounts for specific plans. For example, individuals who want to know the amount they need to save for retirement can use the ‘Retire Rich Calculator’ to ascertain the amount of money they would require based on their current salary, years of work ahead and years pension would be required.

    Bajaj Allianz Life Insurance FAQs:

    1. Are pregnant women covered under Bajaj Allianz insurance policies?

      A. Yes, unless otherwise specified in the policy brochure. Thus, if the claim falls under the insurer’s exclusion criteria or if the policy came with a Pregnancy Clause, the insurer will not be held liable to pay the claim. Also, if any information is withheld at the time of purchasing the policy, it will not be honoured by the insurer.

    2. How do I renew my Bajaj Allianz Life Insurance policy?

      A. You can renew your Bajaj Allianz Life Insurance policy by paying the renewal premium amount, upon which the policy will become active.

    3. How do I cancel my Bajaj Allianz policy online?

      A. You can cancel your policy online by filling an online surrender request form mentioning details such as the policyholder’s name, date of birth, address, policy number.

    4. What is the online address change procedure?

      A. Policyholders will have to log in to their accounts on the Bajaj Allianz life insurance website and click on the ‘Service Request’ tab and select the ‘Address Change’ option. Enter the new address in the form and forward it along with proof of new address to the address given in the form.

    5. What are the reasons my claim can be rejected?

      A. Claims can be rejected due to:

      • Withholding information.
      • If the claim arises due to something in the exclusions list.
      • Losses that are not covered by the policy.
      • Lapsed policies.
      • Fraud.
    6. What are the riders available with Bajaj Allianz insurance policies?

      A. The following riders are available for traditional individual plans:

      • Bajaj Allianz Family Income Benefit Rider
      • Bajaj Allianz Waiver of Premium Benefit Rider
      • Bajaj Allianz Critical Illness Benefit Rider
      • Bajaj Allianz Accidental Death Benefit Rider
      • Bajaj Allianz Accidental Permanent Total/Partial Disability Rider

      The following riders are available for ULIPs:

      • Bajaj Allianz ULIP Waiver of Premium Benefit Rider
      • Bajaj Allianz ULIP Accidental Death Benefit Rider
      • Bajaj Allianz ULIP Accidental Permanent Total/Partial Disability Benefit Rider
      • Bajaj Allianz ULIP Critical Illness Benefit Rider
      • Bajaj Allianz ULIP Family Income Benefit Rider

      The following riders are available for group insurance policies offered by Bajaj Allianz:

      • Bajaj Allianz Life Group Accidental Permanent Total/Partial Disability Benefit Rider
      • Bajaj Allianz Life Group Accidental Death Benefit Rider
      • Bajaj Allianz Life Group Accelerated Critical Illness Rider
    7. When can riders be added or removed from the base policy?

      A. Riders can be added or removed only on policy anniversaries, or at the time of renewing the policy.

    8. How can I check my claim status?

      A. Claim status can be checked online at the Bajaj Allianz website.

    9. Is death by natural calamities covered?

      A. Cover is applicable under all natural calamity scenarios for both Basic Benefit and Accidental Death Benefit, if it has been availed.

    10. Is coverage available during foreign travel and stay?

      A. No, restrictions are imposed on foreign travel and stay. For information specific to your policy, make sure to refer to the policy brochure.

    11. Can a claim be re-applied for in case the decision is unsatisfactory?

      A. Yes, it can be taken up with the Claims Review Committee if you are unsatisfied with the claim decision communicated to you.

    12. Are there any tax exemptions on benefits received?

      A. Yes, benefits received by way of the policy are exempted from tax deductions under Section 10(10D) of the Income Tax Act, 1961.

    13. Will the loss of my policy bond result in a failed claim settlement?

      A.No, the claim can be processed with some additional documentation.

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    News About Bajaj Allianz Life Insurance

    • Karnataka Bank Join Hands with Bajaj Allianz

      Recently, Karnataka Bank confirmed that they have signed a Memorandum of Understanding(MoU) with Bajaj Allianz General Insurance Company. This MoU was signed with an objective to offer a wide range of non-life insurance products to the customers. Karnataka Bank will offer these insurance products in all its 747 branches. Managing director and CEO of Bajaj Allianz, Tapan Singhel, stated that this partnership is very important as it contributes to the strategic growth of the company. In addition to treasury and foreign exchange business, Karnataka Bank offers an array of banking and financial services.

      14 March 2017

    • Bajaj Allianz Launches New ULIP Plan

      Bajaj Allianz has recently released a new unit linked plan named Bajaj Allianz Principal Gain. This plan includes 101% of returns on premium paid as well as assured loyalty additions if invested up to the maturity period.

      Maturity payout of this plan includes 101% of premium paid returns or fund value plus guaranteed loyalty bonuses. Interested customers can buy the plan either online or offline with minimum premium amount pegged at Rs.35,000 per year and maximum tenure of 35 years.

      22 March 2016

    • Bajaj Finserv Records a Rise in Net Profits in Q3

      Bajaj Finserv Ltd has declared a net profit of Rs. 102 million for the quarter ended December 31, 2015, up from Rs. 141.30 million for the corresponding period in 2014. Consolidated net profit after taxes, minority interest and share of profit of associates stood at Rs. 4372.90 million, compared with Rs. 3473.70 million a year ago.

      The company’s total income in the third quarter rose from Rs. 283.40 million in December 2014 to Rs. 304.30 million a year later.

      In the three quarters of the fiscal year, Bajaj Allianz Life Insurance Company Limited has transferred the surplus in policyholders’ revenue account to the shareholders' account, as per regulations. Earlier, the company made such transfers at the close of the fiscal year, and hence the figures for this are not comparable.

      February 8, 2016

    • Bajaj Allianz Life aims for growth in micro-insurance

      Bajaj Allianz Life, one of the key players in the insurance scheme of the country is aiming for a growth through the rapidly improving micro-insurance segment. The company, which has posted a modest growth hopes to see a 60 to 65% growth in the micro segment. According to estimates, a business of Rs 350 crore is expected from this segment, helping the company reach double digit growth figures. Bajaj Allianz Life is eyeing a tie-up with self-help groups, regional rural banks and small microfinance organisations to sell its products, thereby cashing in on the demand. Bajaj Allianz Life offers two products currently and will be launching another one soon.

      14 January 2016

    • Bajaj Allianz Bima Dhan Suraksha Yojana – a new micro plan by Bajaj Allianz.

      The leading private sector life insurance company Bajaj Allianz recently launched Bajaj Allianz Bima Dhan Suraksha Yojana. It is a new micro term insurance plan having the option of return of premium. The plan is main designed for small income groups in rural areas of India. The minimum premium charged by the plan is Rs.15, 00. Customers can opt for this plan by a paying a monthly premium of Rs. 200. The maximum policy term is 10 years. A policyholder can get protection coverage up to 35 times of the total annual premiums paid under this plan.

      8 January 2016

    • Special revival campaign launched by Bajaj Allianz Life

      To help the policyholder to renew their lapsed life insurance policies, Bajaj Allianz Life Insurance announced the launch of a special revival campaign. The campaign is currently on and will continue till 31st January, 2016. The Bajaj Allianz Life Insurance customers will be given a 50% waiver on the interest amount on traditional policies that have been lapsed. The campaign is for traditional life insurance policies only. In 2014, the company revives 8,340 policies and collected Rs.18 crore worth renewal premiums. The company expects a higher number this year. The CEO of Bajaj Allianz Life Insurance, Anuj Agarwal says that this campaign is a helping hand to those who were unable to continue the policies due to financial constraints.

      19 November 2015

    • Bajaj Allianz may launch short-term insurance cover

      Private insurer Bajaj Allianz General Insurance has decided to put forward a proposal to market regulator Insurance Regulatory and Development Authority of India (IRDAI) for launching the short-term insurance cover.

      The short-term insurance, which Bajaj Allianz plans to introduce in the market, is similar to the regular insurance cover. The only difference between the two is the duration, which is expected to be much shorter.

      In case it is approved, the proposal will not only benefit the insurance company but also offer insurance cover for people who are looking for short-term protection. With this policy, the company can increase the number of insured.

      16 November 2015

    • 98% claims settled in the June quarter by Bajaj Allianz Life

      Bajaj Allianz has settled 98.45% of their claims in the June fiscal quarter and have paid out an amount of over Rs. 151 crores to its beneficiaries. A total of 29,900 claims were received and a whopping 29,437 of those claims were settled in the 3 month period. The average turnaround time for the claims paid out was just 11 days from the notified date in comparison to their 16 day turnaround time last year.

      The claim process has been digitized, and have made it customer centric. Bajaj Allianz representatives are taking the calls of the customer, collecting documentation physically etc. to build on their customer relations and also making the process easier, faster and more effective.

      24 September 2015

    • Cash Assure – A new traditional plan launched by Bajaj Allianz

      Bajaj Allianz, which is a joint venture between Bajaj group of India and global insurance giant- Allianz, recently launched a traditional insurance plan that aims to offer a higher rate of return to customers for a longer period of time. The new insurance plan is known as Cash Assure and is aimed to offer protection to customers who want higher returns out of their investment amount.

      Cash Assure will offer customers lump sum pay out at specific intervals of time during the entire policy period. This is in line with customers’ financial requirements at various stages of life. Bajaj Allianz is positive that the new plan will gain recognition and demand among customers owing to its higher rate of return and standard insurance protection. Generally, money-back policies are a great hit among customers since they offer cash at various stages of an individual’s life which keeps him/her covered during important phases of his/her life.

      26 August 2015

    • All you need to know about Bajaj Allianz Elite Assure Life Insurance!

      Bajaj Allianz Elite Assure is a traditional participating life insurance plan with a limited premium endowment feature. The plan has four tenure policy term options of 15,20,25 or 30 years. It also offers guaranteed maturity benefit and guaranteed loyalty addition. The minimum guaranteed maturity benefit is Rs.5 lakh.

      The minimum entry age for the policy is less than one year and the maximum is 55 years. The minimum age of maturity is 18 years and the maximum is 70 years. .Sum assured is granted as death benefit in case of death of the insured.

      22 June 2015

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    Bajaj Allianz Life Insurance Reviews

  • Page 1 of 17 1 2 3 4 5
    • Bajaj Allianz Life Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the Bajaj allianz of India and am with them from the last ten yeasr of time.Services are good one with the Bajaj allianz life insurance company. Response is better one with the Bajaj allianz life insurance company.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jul 03, 2018
    • Bajaj Allianz Life Life Insurance
      "Good Accidental death benefit policy"
      0.5 4.0/5 "Great!"
      So far i have never contact the Bajaj Allianz customer care service. Actually this is the accidental coverage policy. It is accidental plus 5-6 add on coverage is also available. I used to pay the premium of Rs. 6000 every year. I have to pay the premium till my death. I have taken this policy this year alone. The sum assured amount of this policy Rs. 50 lakhs.
      Was this review helpful? 0
      , dhule
      Reviewed on Jun 28, 2018
    • Bajaj Allianz Life Life Insurance
      "Great investment Options"
      0.5 5.0/5 "Blown Away!"
      I have invested in a ULIP plan with Bajaj Allianz(https://www.bajajallianzlife.com/ulip/ulip.jsp). Its the best place to put my money into as it offers duel benefits of investment and insurance. It also offers great tax benefits. I appreciate Bajaj Allianzâ??s experienced fund management team, they have helped me invest my money in the right place. The best part is that I have the freedom to decide. Its a great deal.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 27, 2018
    • Bajaj Allianz Life Life Insurance
      "Best product offerings"
      0.5 4.0/5 "Great!"
      I have three policies from Bajaj Allianz life. The premium gets auto debited from the account(Check details here : https://www.bajajallianzlife.com). I don't have to worry about the due date and this makes life so much easier. The agents are very friendly and in case of any discomfort, they have always helped me understand and sort things out. I recommend Bajaj Allianz to everyone over any other company in the market
      Was this review helpful? 0
      , pune
      Reviewed on Jun 19, 2018
    • Bajaj Allianz Life Life Insurance
      "Excellent Policy"
      0.5 5.0/5 "Blown Away!"
      Got a Bajaj Allianz Life insurance policy around 4 years ago. The policy tenure 18 years with a premium amount of Rs. 12,000 in a year. The customer support is very responsive, and I loved their support every time. The plan benefit is excellent and most of the services can be availed online(https://www.bajajallianzlife.com).
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 18, 2018
    • Bajaj Allianz Life Life Insurance
      "Satisfied"
      0.5 3.5/5 "Pretty good"
      I have a Bajaj Allianz life insurance from more than 10 years and it is a long term policy. There are not much branches of Bajaj. I am happy with the coverage and returns of this insurance policy. I pay my premium once in a year and i am convenient with the payment options. I have taken this policy mainly for tax savings.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 23, 2018
    • Bajaj Allianz Life Life Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      The main issue with the Life Insurance policy from Bajaj is that I've been receiving n number of fake calls. I never had any issues pertaining to this policy. I pay the premium either via check or online. Overall Their service is not as good as I expected.
      Was this review helpful? 0
      , pune
      Reviewed on May 11, 2018
    • Bajaj Allianz Life Life Insurance
      "GOOD POLICY"
      0.5 5.0/5 "Blown Away!"
      I took this policy mainly because of the good returns, its long tenure process , the payment can be done through easy monthly ecs . The best about the policy is claim rate is high compared to other policy available in the market. There customer service and customer response is good .
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 30, 2018
    • Bajaj Allianz Life Life Insurance
      "Life insurance with BAJAJ"
      0.5 4.0/5 "Great!"
      I have taken a life insurance from BAJAJ ALLIANZ and the policy premium is 30000 annually. This is an investment come insurance policy so i will get some interest from mutual funds. We have to pay the premium for 5 years. The customer service and response with the card is fine.
      Was this review helpful? 0
      , thane
      Reviewed on Apr 27, 2018
    • Bajaj Allianz Life Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I have four policy's with Bajaj Allianz Life Insurance service. Tenure period is good with Bajaj Allianz Life Insurance service. The payments options are through online. It was an good experience with Bajaj Allianz Life Insurance service.
      Was this review helpful? 0
      , thane
      Reviewed on Apr 25, 2018
    • Bajaj Allianz Life Life Insurance
      "Worst company to buy insurance from"
      0.5 1.0/5 "Really Bad"
      I had bought Super Saver policy which is Super Loser policy. Instead of giving returns, it actually eats up all your money. Agents mislead you that the policy can be withdrawn at early stage of 3 or 5 years. But actual term is 15 years or so. Absolutely rubbish plan. Customer support is pathetic an unhelpful. No knowledge about the product as well.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 31, 2018
    • Bajaj Allianz Life Life Insurance
      "Average Policy"
      0.5 3.0/5 "Satisfactory"
      I hold a my life insurance with Bajaj Allianz from last 15 years and it is a long term policy. The tenure of this policy is 10 years. I have to pay a premium for 4-5 years and for remaining years the company will pay. It is an average policy, i am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 29, 2018
    • Bajaj Allianz Life Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance policy with LIC from last 7-8 years and it is a term insurance. The tenure of this life insurance policy is 20 years. I pay my premium on monthly basis through ECS and i am convenient with the payment options which they are giving. I am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 27, 2018
    • Bajaj Allianz Life Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I got the Life insurance policy from the BAJAJ ALLIANZ LIFE INSURANCE Company. I have got this policy around a year ago. The customer support service is good with the BAJAJ ALLIANZ LIFE INSURANCE company. This policy has the tenure of life time and I have paid Rs,12,000 to this policy .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 14, 2018
    • Bajaj Allianz Life Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I got the Life insurance policy from the BAJAJ ALLIANZ LIFE INSURANCE Company. I have got this policy around a year ago. The customer support service is good with the BAJAJ ALLIANZ LIFE INSURANCE company. This policy has the tenure of life time and I have paid Rs,12,000 to this policy .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 14, 2018
    • Bajaj Allianz Life Life Insurance
      "better experience"
      0.5 4.0/5 "Great!"
      I had applied and got a life insurance policy from the famous private sector insurance company BAJAJ ALLIANZ LIFE INSURANCE. Most of all benefits are covered under one policy. I feel that there are no benefits to renew my health policy so I withdrawn my health policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 03, 2018
    • Bajaj Allianz Life Life Insurance
      "Better "
      0.5 3.0/5 "Satisfactory"
      I have taken the life insurance policy with the Bajaj allianz life insurance company. The premium amount is nominal one for me and the coverage value is reasonable one for me with them. Every aspects are better one with the Bajaj allianz life insurance company.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 03, 2018
    • Bajaj Allianz Life Life Insurance
      "Very Good Investment"
      0.5 4.0/5 "Great!"
      This is absolutely a delight to have this Insurance. I took it last November. Their return is around 9.5%. I have been paying Rs.50000 as an annual premium for it. I just need to pay for 6 years and after that it has a 6 years locking period after which I can take out a good return out of it.
      Was this review helpful? 0
      , lucknow
      Reviewed on Mar 02, 2018
    • Bajaj Allianz Life Life Insurance
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      Bajaj Life insurance service is good. I have taken one policy with Bajaj for the period of 15 years. The payments are generally through online and the new schemes and offers they provide is good,it is totally a good experience with Bajaj Life insurance service.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Mar 02, 2018
    • Bajaj Allianz Life Life Insurance
      "Good policy to use"
      0.5 3.5/5 "Pretty good"
      I have a life insurance policy with Bajaj Allianz from last 5 years and it is a short term policy. This policy has a tenure period of 2 years and my premium amount gets auto deducted from the salary account. I am convenient with the payment options which they are giving. I am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 27, 2018
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