Bajaj Allianz Life Insurance
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  • Accidental Death Cover
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Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance commenced its operations in 2001. It is a joint venture between - Bajaj Finserv Limited, one of India's most diversified non-banking financial institutions, and Allianz SE, one of the world's leading asset managers and insurers. It serves millions of customers through its 544 branches, 1,01,380+ agents, and trusted partners through its online channels.

Bajaj Allianz Life Insurance Company ensures to look after your insurance needs by offering:

why-choose
  • Best term insurance plans

  • Unit-linked plans

  • Savings plans

  • Investment plans

  • Retirement plans

  • Child plans

Bajaj Allianz Life Insurance Company keeps the brand promise "Life Goals Done" at the core of its insurance products and continues to launch innovative insurance solutions.

Key highlights of Bajaj Allianz Life Insurance

To get more insight into Bajaj Allianz Life Insurance Company's performance, take a look at the below key highlights that will help you to analyze the company based on its performance:

Solvency Ratio

Bajaj Allianz Life Insurance has a Solvency Ratio of 3.6 as per the IRDAI annual report 2022-23. The solvency ratio helps the prospective policyholder assess the ability of a company to meet its financial obligations. As of now, IRDAI mandates maintaining a solvency ratio of 1.50 for every insurer.

Best Selling Bajaj Allianz Life Insurance Plans

To cater to the dynamic insurance needs of an individual and their family, Bajaj Allianz Life Insurance comes with a range of plans. This allows their customers to choose an ideal plan for themselves. The company ensures to offer a plan for everyone.

  1. Bajaj Allianz Life Investment Plans

    Plan Entry Age Tenure Minimum Sum Assured Unique Features
    Bajaj Allianz Life POS Goal Suraksha Plan Minimum Age - 0 years Maximum Age - 55 years
    Minimum- Rs 30,000 Maximum- Rs 25 lakhs Minimum-Rs. 30,000
    • Guranteed addition
    • Limited PPT
    • Loan on policy

Features of Bajaj Allianz Life Insurance Plans

  • Choice of policy tenure and premium payment term.You have to choose your premium payment tenure at the start of the policy and cannot be changed at a later stage.
  • Choice of sum assured.Every individual has a different income level and lifestyle expenses. Bajaj Allianz Life Insurance Plans allows you to choose the sum assured that matches your needs.
  • Special premium rates for women.Some Bajaj Allianz Life Insurance Plans offer special premium prices for women to encourage higher participation of women.
  • Choice of plan variants.Various Bajaj Allianz Life Insurance Plans offer you the option to choose the plan variant that best fulfills your requirements.
  • Choice of premium payment mode.Bajaj Allianz Life Insurance Plans offer you the option to choose the premium payment modes (monthly, quarterly, half-yearly, or yearly) as per their requirements.

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Bajaj Allianz Life Insurance Plans

Bajaj Allianz Life Insurance Plans

Bajaj Allianz Life Insurance Life Plan

Bajaj POS Goal Suraksha Plan is a combination of a life insurance plan and a savings plan. It provides death benefits to your loved ones in case of yo...

Unique Features

  • Guaranteed additions
  • Limited payment term
  • Alter payment modes

Bajaj Allianz Life POS Goal Suraksha Plan (Pros)

Bajaj Allianz Life POS Goal Suraksha Plan
  • Guaranteed maturity benefit
  • Limited premium payment term
  • Option to take policy loan

Bajaj Allianz Life POS Goal Suraksha Plan (Cons)

Bajaj Allianz Life POS Goal Suraksha Plan
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

Bajaj Allianz Life POS Goal Suraksha Plan (Other Benefits)

Bajaj Allianz Life POS Goal Suraksha Plan
  • Return of premium
  • Death benefits in installments
  • Flexible policy term

Bajaj Allianz Life POS Goal Suraksha Plan (Eligibility Criteria)

Bajaj Allianz Life POS Goal Suraksha Plan
  • Minimum entry age- 18 years
  • Maximum entry age- 65 years
  • Minimum sum assured- 30 thousand
  • Maximum sum assured- 25 Lac
  • Maximum policy terrm- 67 years

Benefits of Bajaj Allianz Life Insurance Plans

There are multiple benefits of Bajaj Allianz Life Insurance Plans. Read below to understand the plethora of advantages provided by the insurer.

Secure and Transparent Methodology

Bajaj Allianz Life Insurance is accredited with CARE AAA (IS), which shows that the company offers the highest degree of safety regarding the timely servicing of financial obligations.

Enhanced protection with Multiple Add-ons

Bajaj Allianz provides option to add riders. There are various rider options available including Critical Illness Rider, Accidental Death/Total Permanent Disability Rider, Waiver of Premium Rider, and more.

Excellent Customer Service

Bajaj Allianz Life provides digital customer support 24 hours a day, seven days a week, and the insurance firm has a strong customer service department.

One-Day Claim Approval

As per the records, 95.49% of non-investigative individual claims were approved in one working day for FY 2021-22.

Award-Winning Services

Bajaj Allianz Life has received several awards for unparalleled services such as India Summit and Awards 2020, prize for 'Best Fraud Intelligence, The Best Digital Customer Experience Initiative', etc.

Tired of Pushy Sales? Get Insurance, Your Way Tired of Pushy Sales? Get Insurance, Your Way

Rider Benefits You Can Avail With Bajaj Allianz Life Insurance Plans

Here are the rider options you can avail with Bajaj Allianz Life Insurance Plans to enhance your coverage:

Maternity Benefit Rider

Bajaj Allianz Accidental Permanent Total/ Partial Disability Benefit Rider

Additional benefits are paid in case of the policyholder’s disability due to an accident.

Maternity Benefit Rider

Bajaj Allianz Waiver of Premium Benefit Rider

If the policyholder faces serious illness then future premiums are waived off if you have chosen this rider.

Maternity Benefit Rider

Bajaj Allianz Family Income Benefit Rider

This rider offers your family monthly income in case of your uncertain demise.

Maternity Benefit Rider

Bajaj Allianz Accidental Benefit Rider

This rider offers your family additional benefits in case of your uncertain demise due to the accident.

Maternity Benefit Rider

Bajaj Allianz Critical Illness Benefit Rider

Benefits are paid in case you are diagnosed with any of the 11 critical illnesses.

Documents Required to Buy Bajaj Allianz Life Insurance Policy.

Here is the list of documents required to buy the Bajaj Allianz Life Insurance Policy:

Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.

How to Buy Bajaj Allianz Life Insurance Plans?

Bajaj Allianz Life Insurance allows you to buy life insurance plans via two platforms. You can either buy the plan online from the official website of the company or through third-party intermediaries like agents, brokers, etc. Given below is a detailed explanation of both these types of buying processes.

Life Insurance
  • Step 1

    Fill out the form given at the top of this page with the necessary details.

  • Step 2

    Select your income and city. Click on 'Proceed'.

  • Step 3

    Update your education and occupation details.

  • Step 4

    Choose your preferred plan and click on 'Buy this plan'.

  • Step 5

    Select the policy term, premium period, and riders (if required), and then proceed to make the payment.

*Once the payment is made, you will get a payment confirmation at your registered email address.

Life Insurance
  • Step 1

    Visit the official website of Bajaj Allianz Life Insurance Company.

  • Step 2

    Click on 'Plan' on the navigation bar and select the category of plans you want to purchase.

  • Step 3

    Click on the Buy Now button and fill in the required details.

  • Step 4

    Tap on 'Next' and select a plan as per your requirements.

  • Step 5

    Select the cover option you want and make your payment.

*Once the payment is made, you will get a payment confirmation at your registered email address.

Why Choose PolicyX.com?

Don't just take our word for it - check out what our happy customers say about us!

All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.

Ravindra Singh

I highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.

Priti varshney

I'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.

Nisha Mary

I bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.

Ajay Shah

PolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.

Vijay Rathod

I purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.

Uma Mahajan

How to File Bajaj Allianz Life Insurance Claims?

Filing a claim for the Bajaj Allianz Plan is a simple and hassle-free task. You can easily submit your claims online or offline. To file a claim for Bajaj Allianz Plan, you need to follow the below-mentioned steps.

Online Process

Your Occupation
1

Claim Intimation

Inform the company about the incident via various channels- by writing an email at balic.healthclaims@healthindiatpa.com, calling the toll-free number (1860 209 7272), filling out the online claim form on its website, or visiting the nearest branch. A claim reference number/intimation number will be provided to you upon successful registration of the claim.

Your Occupation
2

Document Submission

You have to submit the necessary documents requested by the company to process the claim.

In case of natural death
Death claim form, Death certificate,Original policy documents, Claimant's identity & residence Proof, Medical records, Account details of nominee.

In case of Accidental Death
Same documents with two additional documents: FIR and Post-mortem report.

Your Occupation
3

Claim Settlement

After receiving all the documents and claim forms, the company will verify the details as per their norms. If they require any additional details they will contact you via call or email. On successful completion, the claim will be settled and the amount will be transferred to the nominee's bank account and the same will be communicated to him/her over a call or an email.

Offline Process

The Bajaj Allianz Life insurance claim settlement procedure can be reported by visiting the local Bajaj Allianz Branch Office. For the details of Bajaj Allianz Life Insurance branches you can visit their website and locate the nearest branch. You have to submit the essential documents at the branch so that your claim can be processed.

Your Occupation

Exclusions of Bajaj Life Insurance Plans

  • Death occurred due to a pandemic is not covered by the company.
  • Death caused due to any type of adventure sports.
  • Death by consumption of any type of drugs and alcohol.
  • Death due to any pre-existing disease that isn't mentioned during the start of the policy.
  • If a policyholder commits suicide within first 12 months of purchasing the policy, then no death benefits are paid to their nominee. Either premiums paid to date or the surrender value of the policy whichever is higher is paid to them.

Conclusion

Bajaj Allianz is one of the leading life insurance companies in the insurance sector with years of reputation and trustworthiness in the market. It offers a wide range of life insurance products including term insurance, savings plans, child insurance plans, ULIPs, and a lot more so that you can choose the one that best fits your requirements. 

If you are still confused about which life insurance plan is best for you then you can contact us at PolicyX.com. One of our insurance experts will reach you shortly, understand your requirements, and help you choose a plan that best suits your requirements.

Life Insurance

More Queries?

If you have any more queries regarding Bajaj Allianz Life Insurance Plans, Renewals, or Claim Procedures, contact our insurance experts at:
1800-4200-269 now!

Bajaj Allianz Life Insurance: FAQs

1. Are Bajaj Allianz Child plans a good investment?

Yes, Bajaj Allianz Child plans are a good decision to safeguard your child’s future. It is an insurance-investment plan that helps you save money and create wealth in order to pay for the important milestones in your child’s life. With bajaj allianz life insurance company you can choose between various ULIP and savings plan for your child.

2. Is Bajaj Allianz a good company to buy life insurance from?

Yes, Bajaj Allianz is one of the best and most trust worthy life insurance companies in India. Bajaj allianz life insurance has a wide portfolio of insurance plans like savings, retirement, child, ULIP and many more.

3. How to report death claims when there is no nomination or in case of a beneficiary’s demise?

In such a case, you have to provide proof of the title/succession certificate issued by a court. If the company has accepted the claim and is waiting for the proof, it will hold the money as directed by the IRDAI.

4. When can I remove or add riders from the base policy?

You are allowed to add or remove riders only on policy anniversaries, or at the time of renewing the policy.

5. Are there any tax exemptions on benefits received?

Yes, life insurance policies are also liable for tax deductions under Section 10(10D) of the Income Tax Act, 1961.

6. How can I get the Bajaj Allianz Life Insurance premium receipt?

You have to visit Bajaj Allianz’s portal to download Bajaj Allianz Life Insurance Premium Receipt. You can also visit the insurer’s mobile app.

7. What are the documents you need to submit for policy surrender?

Policy surrender form A self-attested copy of your ID proof Policy bond Any canceled cheque/bank attested bank statement/bank attested passbook copy

8. What are the different reasons behind claim rejection?

Claims can be rejected because of a few reasons such as: Withholding information Fraud If the claim is linked with any exclusion Losses which are not liable to get the cover under the plan Lapsed policies

9. How can someone check policy details under Bajaj Allianz Life Insurance?

The policy document has all the details related to your Bajaj Allianz Life Insurance. You can check the document for any information you may need.

10. What Are The Different Riders available under Bajaj Allianz Life Insurance Company?

The riders available under Bajaj Allianz Life Insurance Policy are: Bajaj Allianz Traditional/ULIP Waiver of Premium Benefit Rider Bajaj Allianz Traditional/ULIP Family Income Benefit Rider Bajaj Allianz Traditional/ULIP Accidental Death Benefit Rider Bajaj Allianz Traditional/ULIP Critical Illness Benefit Rider Bajaj Allianz Traditional/ ULIP Accidental Permanent Total/Partial Disability Benefit Rider

11. How can I pay my Bajaj Allianz Life Insurance Premium?

To pay your Bajaj Allianz Life Insurance Premium, you need to follow the below steps: Visit the official website, and click on the "Pay Premium" button available on the top menu. Once done, you can choose to pay your premium online through Debit Card (Maestro/ Visa/ Master/ RuPay), Credit Card (Visa/ Master/ Maestro/ Diners/ Amex), Netbanking, Unified Payment Interface (UPI), e-Wallets, and EMIs from selected cards. After selecting the mode of payment, fill in your details such as the policy number, policyholder’s Date of Birth, mobile number, and email id Click the ’Pay Premium’ option and your policy details will be emailed to you.

12. Is there any special feature offered by the company that will help me to calculate my investments?

Yes, Bajaj Allianz Life offers a Life Insurance Calculator for every Life Goal. Along with the investments calculator, the other calculators available are: Child Education Planning Tool Term Calculator ULIP Calculator Power of Compounding Retirement Calculator Investment Calculator Child Plan Calculator Tax Calculator Savings to Life Goals Convertor BMI Calculator Covid 19 Optimism Score Tool Immunity Score Calculator Immunity Score Calculator Investment Age Calculator

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Written By: Naval Goel

Naval Goel is the Founder and CEO of PolicyX.com (IRDA- Approved Insurance Comparison Website). He is a CFA charter holder (USA) and FRM (GARP). He holds an MBA from IIFT, Delhi, and is also an Associate from the Insurance Institute of India. Naval is an avid investor and entrepreneur who has a deep understanding of the Indian equity market and insurance sector. He has been investing for more than 10 years now and is a CFA charter holder.