Bajaj Allianz Life Insurance
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Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance commenced its operations in 2001. Bajaj Allianz Life Insurance 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 509 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 Best Term Insurance plans, Unit-linked plans, savings plans, investment plans, retirement plans, and many more. 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.

Awards And Achievement

Bajaj Allianz Life Insurance has won multiple awards and accolades since its commencement. Read below to know more about the achievements gained over the years.

  • Bajaj Allianz Life has won the "Achromic Point Anti-Fraud Award" at the 4th Annual Anti-Fraud Conclave & Awards 2022.
  • Bajaj Allianz Life has won the "Best Risk Management Initiative - Life Insurance" at the InsureNext Awards & Summit 2022.
  • Best Use of Innovation to Enhance Customer Experience" at the Customer FEST Leadership Awards 2021.
  • Best Digital Customer Experience Initiative" at the Customer FEST Leadership Awards 2021.
  • #SAMMIE Award for the "Best Social Media Brand" at the Best Social Media Brands Award 2020.
  • Red Hat APAC Innovation Awards 2020.
  • Most Innovative Best Practice in Customer Experience" at the CII DX Summit & Awards 2020.
  • Best Fraud Intelligence" award at the 5th Annual Insurance India Summit & Awards 2020.
  • Awarded as Leading Life Insurance Company 2017 by Golden Globe Tiger.

Key Features of Bajaj Allianz Life Insurance

With so many life insurance companies available in India, choosing the right insurance company can be a hectic task. It is important that you choose the right insurer and the right plan that will best suit the potential needs of your family. So, before choosing any life insurance company, you need to check some important factors of the insurance company such as claim settlement ratio, solvency ratio, annual premium, and operating network.

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

  • Solvency Ratio
    Bajaj Allianz Life Insurance has a Solvency Ratio of 7.16 as per the IRDAI annual report 2020-21. 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.
  • Claim Settlement Ratio
    Claim settlement of an insurer is a metric that helps you analyze its claims settling ability. As per the IRDAI annual report of 2020-21, the claim support of Bajaj Allianz Life Insurance is 98.48%.
  • Annual Premium
    As per the annual report of IRDAI 2020-21, The Annual premium of Bajaj Allianz Life Insurance is 12,024.84 Cr.
  • PAN India Presence
    With an impact on over 2 crore lives PAN India, Bajaj Allianz Life Insurance company ensures that the policyholder can directly visit their nearest branch office for any of their policy-related or claim-related queries.
Bajaj Allianz Life Insurance Key Features

Benefits of Bajaj Allianz Life Insurance

There are multiple reasons to avail of the advantages of Bajaj Allianz Life Insurance. 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 Life Insurance provides the option of adding riders to the insurance policy to increase the life coverage. In the event of a financial emergency, riders give additional advantages. Critical Illness Rider, Accidental Death/Total Permanent Disability Rider, Waiver of Premium Rider, and more riders are available via Bajaj Allianz Life.
  • 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 both online and offline, that is constantly available to answer clients' questions, allowing them to provide the finest service possible.
  • 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. At the Annual Insurance India Summit and Awards 2020, Bajaj Allianz Life received the prize for 'Best Fraud Intelligence.' Apart from this, at the Customer Fest Leadership Awards 2020, the firm won 'The Best Digital Customer Experience Initiative'.

Bajaj Allianz Life Insurance Plans

To cater to the dynamic insurance needs of an individual and their family, Bajaj Allianz Life Insurance comes with several plans. Bajaj Allianz Insurance Company comes with a range of plans that allow the customers to choose their ideal plan as per their and their family's requirements. The company ensures to offer a plan for everyone.

  1. Bajaj Allianz ULIP Plans

    Plan Entry Age Tenure Minimum Sum Assured
    Bajaj Allianz Life Long Life Goal Minimum Age: - 18 years
    Maximum Age: - With waiver of premium: - 65 years
    Without waiver of premium: - No limit
    99 minus age at entry of life assured 10 times Annualized Premium
    Bajaj Allianz Smart Wealth Goal Minimum Age: - 0 Years
    Maximum Age: - 60 Years
    10 Years to 60 Years 10 times Annualized Premium
    Bajaj Allianz Life Goal Assure Minimum Age: - 0 Years
    Maximum Age: - 60 Years
    5/10/15/20 Years 10 times Annualized Premium
    Bajaj Allianz Future Gain Minimum Age: - 1 Year
    Maximum Age: - 60 Years
    10/15/20/30 Years 10 times Annualized Premium
    Bajaj Allianz Fortune Gain Minimum Age: - 1 Year
    Maximum Age: - 63 Years
    7 to 30 Years 1.25 times single premium if age at entry < 45 Years
    1.1 times single premium if age at entry >=45 Years
    Bajaj Allianz Future Wealth Gain Minimum Age: - 0 Year
    Maximum Age: - 60 Years
    10/15 to 25 7 times Annualized Premium
    Bajaj Allianz Life Goal Based Saving Minimum Age: - 0 Year
    Maximum Age: - 60 Years
    5/10/15/20 Years 10 times Annualized Premium
    Bajaj Allianz Life Principal Gain Minimum Age: - 7 Years
    Maximum Age: - 60 Years
    7 to 15 Years 10 times of annual premium
  2. Bajaj Allianz Term Plan

    Plan Entry Age Tenure Minimum Sum Assured
    Bajaj Allianz Life Saral Jeevan Bima Minimum Age: - 18 years
    Maximum Age: - 65 years
    5 - 40 years Rs. 5,00,000
    Bajaj Allianz eTouch Term Minimum Age: - 18 years
    Maximum Age: - 65 years
    For cover up to 99 years: - 34 to 81 Years
    For cover not up to 99 years: - 10 to 67 Years
    Rs. 50,00,000
    Bajaj Allianz Life iSecure Minimum Age: - 18 years
    Maximum Age: - 65 years
    10 Years Rs. 25,00,000
    Bajaj Allianz Life Smart Protect Goal Minimum Age: - 18 years
    Maximum Age: - 65 years
    5 Years to 65, minus at age of entry Rs. 50,00,000
    Bajaj Allianz Lifestyle secure Minimum Age: - 18 years
    Maximum Age: - 50 years
    5/7/10/15/20 Years Rs. 3,00,000
    Bajaj Allianz Life Secure Minimum Age: - 25 years
    Maximum Age: - 55 years
    100 Minus age at entry Rs. 20,00,000
    Bajaj Allianz iSecure Loan Minimum Age: - 18 years
    Maximum Age: - 60 years
    10/15/20/ 25 Years Rs. 3,00,000
    Bajaj Allianz iSecure More Minimum Age: - 18 years
    Maximum Age: - 60 years
    10/15/20/ 25 Years Rs. 250,000

    Know More About: Bajaj Allianz Term Plan

  3. Bajaj Allianz Savings Plan

    Plan Entry Age Tenure Minimum Sum Assured
    Bajaj Allianz Life Assured Wealth Goal- Second Income Minimum Age: - 5 years
    Maximum Age: - 60 year
    30 to 44 Years Based on Premiums
    Bajaj Allianz Life Flexi Income Goal- Income Benefit Minimum Age: - 18 years
    Maximum Age: - 55 years
    12 Years to 99 (Minus at the age of entry) Rs. 1,58,400
    Bajaj Allianz Life Guaranteed Savings Goal Minimum Age: - 8 years
    Maximum Age: - 60 years
    5/7/10 Years 1.5 times single premium
    Bajaj Allianz Life Guaranteed Income Goal Minimum Age: - 6 years
    Maximum Age: - 60 years
    Lump sum benefit:- 10/12/15/20 Years
    Income Benefit:- 5/7/10/12 Years
    Rs. 1,00,000
    Bajaj Allianz Life POS Goal Suraksha Minimum Age: - 18 years
    Maximum Age: - 55 years
    10/15/20 Years Rs. 30,000
    Bajaj Allianz Life Super Life Assure Minimum Age: - 18 years
    Maximum Age: - 55 years
    12 to 20 Years Rs. 1,00,000
    Bajaj Allianz Life Income Assure Minimum Age: - 0 years
    Maximum Age: - 50 years
    17/19/22/24 144 * Minimum GMI chosen
    Bajaj Allianz Life Save Assure Minimum Age: - 1 year
    Maximum Age: - 60 years
    15/17 Years Rs. 1,00,000
  4. Bajaj Allianz Life Investment Plan

    Plan Entry Age Tenure Minimum Sum Assured
    Flexi Income Goal- Enhanced Benefit Minimum Age: - 0 Years, 18 years (Joint life)
    Maximum Age: - 55 years
    12 to 25 Years Rs. 1,58,000
    Bajaj Allianz Life Assured Wealth Goal- Wealth Creation Minimum Age: - 8 Years (Joint life) 0 Years (Single Life)
    Maximum Age: - 50 years (Joint life) 65 Years (Single Life) years
    Single Pay:- 5/10 Years
    Regular Pay:- 10/15/20/25/30 Years
    Maturity Benefit:- percentage of total premiums* paid.
    Bajaj Allianz Invest Assure Minimum Age:- 0 Years (Silver Variant)18 Years (Gold Variant)
    Maximum Age:- 50 Years
    Silver Variant:- 17 to 40 Years
    Gold variant:- 15 to 40 Years
    Rs. 1,00,000
    Bajaj Allianz Elite Assure Minimum Age:- 0 Years
    Maximum Age:- 55 Years
    15/20/25/30 Years 10 times of annualized premium
    Bajaj Allianz Life My Wealth Goal Minimum Age:- 10 Years
    Maximum Age:- 55 Years
    100 minus entry age Based on premium
  5. Bajaj Allianz Life Retirement Plan

    Plan Entry Age Tenure Minimum Sum Assured
    Bajaj Allianz Life Saral Pension Minimum Age:- 40 Years
    Maximum Age:- 80 Years
    Lifetime Annuity Rs. 1,000
    Bajaj Allianz Life Guaranteed Pension Goal Minimum Age:- 30/45 Years
    Maximum Age:- 85/84 Years
    1 to 10 years Rs. 1,000
    Bajaj Allianz Life Long Life Goal Minimum Age:- 0/18 Years
    Maximum Age:- 65 Years/ No limit
    99 minus age at entry of life assured 10 times annualized premium
  6. Bajaj Allianz Life Child Plans

    Plan Entry Age Tenure Minimum Sum Assured
    Bajaj Allianz Life Assured Wealth Goal- Step Up Income Minimum Age:- 5 Years
    Maximum Age:- 60 Years
    25 to 32 Years Based on Premium Paid
    Bajaj Allianz Life Young Assure Minimum Age:- 18 Years
    Maximum Age:- 50 Years
    10/15/20 10 times annualized premium
    Bajaj Allianz Lifelong Assure Minimum Age:- 10 Year
    Maximum Age:- 55 Years
    100 minus age at entry Rs. 1,00,000

Life Insurance Companies

Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.

How To Buy Bajaj Allianz 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 process.

Through PolicyX.com

  • Fill out the form given at the top of this page with the necessary details.
  • Select your income and city. Click on 'Proceed'.
  • Update your education and occupation details.
  • Choose your preferred plan and click on 'Buy this plan'.
  • Select policy term, premium period, and riders (if required) and then proceed to do the payment.
  • **Once the payment is made, you will get a payment confirmation at your registered email address.

From Bajaj Allianz Life Insurance company:

  • Visit the official website of Bajaj Allianz Life Insurance Company.
  • Click on 'Plan' on the navigation bar and select the category of plans you want to purchase.
  • Click on the Buy Now button and fill in the required details.
  • Tap on 'Next' and select a plan as per your requirements.
  • 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.

How to File Bajaj Allianz Life Insurance Claims?

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

Claim Intimation

Inform the company about the incident via various channels- by writing an email at balic.healthclaims@healthindiatpa.com, calling on the toll-free number (1860 209 7272), filling the online claim form on its website, or by visiting the nearest branch. The following details have to be provided during the intimation of your claim:

  • Name of the policyholder
  • Policy number
  • Date of death/event of the life assured
  • Nominee name
  • Cause of death
  • Contact details

A claim reference number/intimation number will be provided to you upon successful registration of the claim.

Document Submission

Submit the necessary documents requested by the company to process the claim. In the case of natural death-

  • Death claim form.
  • Death certificate.
  • Original policy documents.
  • Claimant's identity & residence Proof.
  • Medical records at the time of death & past illnesses.
  • Account details of the nominee.

In the case of unnatural death (Accidental death/Murder/Suicide)-

  • Death claim form.
  • Death certificate.
  • Original policy documents.
  • Claimant's identity & residence proof.
  • FIR, police inquest report & Panchanama.
  • Post mortem report.
  • Account details of the nominee.

Claim Settlement

After receiving all the documents and claim forms, the company will verify the details as per their norms. 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.

How to Contact Bajaj Allianz Life Insurance Company?

Bajaj Allianz House, Airport Road, Yerawada, Pune 411 006, Maharashtra

customercare@bajajallianz.co.

1800 209 7272 (24*7)

Life Insurance Articles

Bajaj Allianz Life Insurance: FAQs

1. Are ULIP plans helpful?

Yes, ULIP plans are a great insurance solution as these plans protect you as well as build your financial portfolio. It gives the policyholder the dual benefit of enjoying a life cover as well as investing in select market-linked funds.

2. What is the benefit of early retirement planning?

There are several benefits of retirement planning ranging from monetary to personal advantage. Many individuals now working private jobs do not have the luxury of earning a pension post-retirement which is why it is wise to plan your retirement. It provides tax benefits, care-free life post-retirement as well as good financial discipline.

3. 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.

4. 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.

5. 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.

6. Can NRIs purchase term insurance plans?

Yes, an NRI can invest in a term insurance policy in India by abiding by the applicable underwriting guidelines of the company and other applicable laws.

7. 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.

8. 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.

9. 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.

10. 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

11. 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

12. 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.

13. 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

14. 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.

15. 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

What Our Customers Have to Say

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Priya Sharma

Jaipur

December 14, 2022

PolicyX has a smooth service from booking policy to verification. Employees are very patient and have good knowledge and help you throughout the process. Had great experience dealing with them

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Somesh

Agra

December 9, 2022

I had many confusions regarding the term policies . But Policyx has handled it well, m happy that they are my wayfarer in this journey.

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Prerna Kumari

Mumbai

July 11, 2022

Good company. Presents nice term insurance plans and flexible plans also. My husband has brought one for the family.

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Priya Sangwan

Mumbai

July 11, 2022

IndiaFirst Term Insurance company ensures that your family s needs are looked after. One of the best companies offers a term plan per your needs.

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Priyanshi Deewan

Hyderabad

July 6, 2022

I recently received the claim amount of the policy that my husband had brought for us. I am glad that the company understands the needs of its customers and their families. Well done Canara HSB...

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Rishabh Kumar

Delhi

July 6, 2022

I bought a term plan with Canara HSBC for the protection of my family and have been satisfied with the benefits received. It is simple and easy to buy their plans.

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Samarth Gaur

Chennai

July 6, 2022

I am very happy with the term plans offered by the Canara HSBC Life Insurance company. The plans offer comprehensive coverage and I am sure will support my family after my demise.

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Vipul Bhardwaj

Coimbatore

June 9, 2022

Bharti AXA is a good life insurance company, and I am sure if something ha[opens to me, the company will look after my family s needs.