Bajaj Allianz Life Insurance
Bajaj Allianz Insurance
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Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance is one of the successful insurance companies in India. It is a joint venture between two powerful entities- Bajaj Finserv Ltd. and Allianz SE. The company commenced its operations in 2001. With the help of 80000+ agents, the company is serving millions of customers. The company offers a wide range of effective life insurance products ranging from term plans, ULIP plans, retirement and child insurance plans to cater to different needs of its customers.

Highlights

Claim Settlement ratio

95.01%

No. of branches

556

**Last Updated on 05-11-2020

What Are The Different Types of Bajaj Allianz Life Insurance Plans?

Term Insurance Plans

  • Bajaj Allianz Smart Protect Goal
  • Bajaj Allianz iSecure Term Insurance Plan
  • Bajaj Allianz iSecure More
  • Bajaj Allianz iSecure Loan
  • Bajaj Allianz Life Secure
  • Bajaj Allianz e-Touch Online Term Plan
  • Bajaj Allianz Lifestyle Secure

Unit Linked Insurance Plans (ULIPs)

  • Bajaj Allianz Future Gain
  • Bajaj Allianz Future Wealth Gain
  • Bajaj Allianz Fortune Gain
  • Bajaj Allianz Life Goal Based Saving
  • Bajaj Allianz Life Principal Gain

Savings Plan

  • Bajaj Allianz Life Guaranteed Saving Goal
  • Bajaj Allianz Guaranteed Income Goal
  • Bajaj Allianz Cash Assure
  • Bajaj Allianz Income Assure
  • Bajaj Allianz POS Goal Suraksha
  • Bajaj Allianz Save Assure
  • Bajaj Allianz Life Flexi Income Goal

Investment Plans

  • Bajaj Allianz Invest Assure
  • Bajaj Allianz Elite Assure
  • Bajaj Allianz My Wealth Goal
  • Bajaj Allianz Life Capital Goal Suraksha
  • Bajaj Allianz Life Capital Assure Goal

Health Care Plan

  • Bajaj Allianz Health Care Goal

Retirement Plans

  • Bajaj Allianz Life LongLife Goal
  • Bajaj Allianz Life Pension Guarantee
  • Bajaj Allianz Life Retire Rich

Child Insurance Plans

  • Bajaj Allianz Young Assure
  • Bajaj Allianz Lifelong Assure

**Last Updated on 05-11-2020

1. Bajaj Allianz Term Insurance Plans

Term insurance plans are also popular by the name of pure protection plans. Such plans assist the policyholders to secure the future of their loved ones. In the case of the demise of the policyholder, the plan will assist his/her family to live a stable and happy life. Below are the Bajaj Allianz Term Insurance plans.

i) Smart Protect Goal

Smart Protect Goal is a pure term insurance plan. It is an affordable insurance policy that provides an encompassing life cover. It not only provides the option to get the paid premium back at the time of maturity but also secures against financial loss from several critical illnesses.

Key Features

  • Comprehensive Cover: The plan comes out with a comprehensive cover and multiple add-on benefits that are designed to cater to unique needs.
  • Whole Life Cover: The plan has come out with a whole life cover of 99 years on paying a premium for a limited tenure only. In case you opt for the whole life cover, you will not be liable to receive Return of Premium.
  • Critical Illness Cover: Along with the protection cover, the plan also provides critical illness cover against 55 minor and major critical illnesses.

Eligibility:

Entry Age

Minimum Age: 18 Years Maximum Age: 65 Years

Maturity Age

Maximum age at maturity

With ROP - 75 years

Without ROP - 85 years

Whole Life - 99 years

Sum Assured

Minimum Sum Assured

Rs. 50,00,000

Maximum Sum Assured

As per Board Approved Underwriting Guidelines

**Last Updated on 05-11-2020

ii) Bajaj Allianz iSecure Plan

Bajaj Allianz iSecure Plan is a non-participating term insurance plan. It is a pocket-friendly term insurance plan that offers death benefits in installment so that your family can meet their daily financial requirements.

Key Features

  • Rebate: On opting a high sum assured, the plan offers huge rebates in premium.
  • Life Insurance Cover For Your Spouse: The plan comes out with the flexibility to add your spouse under the same insurance plan. The insured can enjoy a joint-life rebate on the total gross premium.
  • Riders: The plan comes out with multiple add-on options that may assist you to enhance the basic term cover.

Eligibility:

Entry Age

Minimum Age: 18 Years
Maximum Age: 60 Years

Maturity Age

Minimum Age: 28 years

Maximum Age: 70 years

Sum Assured

Minimum: Rs 2,50,000 for general category, and Rs 20,00,000 for the categories split by Preferred Non-Smoker, Non-Smoker & Smoker

Maximum: No Limit

**Last Updated on 05-11-2020

iii) Bajaj Allianz iSecure More

Bajaj Allianz iSecure More is a non-participating increasing cover term assurance plan. It is a smart way of making sure that all dreams and aspirations of your loved ones stay on track.

Key Features

  • Life Cover Increases Yearly: The sum assured that you receive under this insurance plan increases by 5% on every policy anniversary.
  • Joint Life Cover: The plan provides a joint life cover option under which you can add your spouse in the existing policy at the time of inception or later.
  • Payouts: The plan allows the nominee to receive the death benefits in the form of equal monthly installments for 5 or 10 years (as per their convenience).

Eligibility:

Entry Age

Minimum Age: 18 Years
Maximum Age: 60 Years

Maturity Age

Minimum Age: 28 years

Maximum Age: 70 years

Sum Assured

Minimum: Rs 2,50,000

Maximum: No Limit

**Last Updated on 05-11-2020

iv) Bajaj Allianz iSecure Loan

Bajaj iSecure Loan assists your family to cover loan liability in case of your demise. It also enables your family to live a stable life and achieve their life goals.

Key Features

  • Low-cost Insurance: With time, the outstanding amount associated with your loan reduces. Hence, the price of this term insurance plan is low as the cover is linked with the due loan amount.
  • Rebate on High Sum Assured: The plan offers rebates on the premium on opting for a high sum assured.
  • Limited Premium Payment Term: The plan allows the insured to pay the premium for a limited tenure.

Eligibility:

Entry Age

Minimum Age: 18 Years
Maximum Age: 60 Years

Maturity Age

Minimum Maturity Age 28 years

Maximum Maturity Age 65 years

Sum Assured

Minimum: Rs 3,00,000

Maximum: No Limit

**Last Updated on 05-11-2020

v) Bajaj Allianz Life Secure

Bajaj Allianz Life Secure is a non-linked whole life term insurance plan. The plan comes out with accidental death cover and accelerated critical illness cover, along with a waiver of premium benefit.

Key Features:

  • Insurance Cover For Life: It is a whole life insurance plan that offers a life cover of up to 100 years.
  • Multiple Coverage Options: The plan allows you to select the coverage option as per your convenience.
  • Limited Premium Payment Terms: The plan offers life cover till 100 years but you have to pay a premium for a limited period of 5, 7, 10, or 15 years.

Eligibility:

Entry Age

Minimum Age: 25 Years
Maximum Age:

Coverage Option I & II: 55 years

Coverage Option III: 50 years

Policy Term

(100 minus Age at Entry) years

Sum Assured

Minimum: Rs 20,00,000

Maximum: No Limit

**Last Updated on 05-11-2020

vi) Bajaj Allianz eTouch Online Term Plan

Bajaj Allianz eTouch Online Term Plan is a regular premium online pure term insurance plan. The plan comes out with multiple variants to cater to the different needs of the customers.

Key Features

  • Comprehensive Cover: The plan offers a comprehensive life cover along with several benefits such as accidental death cover, accidental total permanent disability, critical illnesses cover, and waiver of premium cover. It depends on the chosen variant option.
  • Flexible Premium Payment Options: The plan allows you to choose the desired payment option such as monthly, quarterly, half-yearly, and annually.

Eligibility:

Entry Age

Minimum Age: 18 Years
Maximum Age: 65 Years

Maturity Age

Minimum Age: 28 years

Maximum Age: 75 years

Sum Assured

Minimum: Rs 50,00,000
Maximum: No Limit

**Last Updated on 05-11-2020

vii) Bajaj Allianz Lifestyle Secure

Bajaj Allianz Lifestyle Secure is a non-linked term insurance plan. It is a pure risk premium payment term insurance plan that offers protection along with terminal illness benefit.

Key Features:

  • Regular Income: In case of an unfortunate demise of the insured, the death benefit will be paid in equal monthly installments up to 240 months (depending upon the choosing policy tenure).
  • Inbuilt Terminal Illness Cover: If the insured gets diagnosed with a terminal illness cover and has a life expectancy of fewer than six months, (s)he is liable to get the entire sum assured as an accelerated benefit.

Eligibility:

Entry Age

Minimum Age: 18 Years
Maximum Age: 50 Years

Maturity Age

Minimum Age: 23 years

Maximum Age: 60 years

Sum Assured

Minimum: Rs 3,00,000
Maximum: 15,00,000

**Last Updated on 05-11-2020

2. Bajaj Allianz Unit Linked Insurance Plans (ULIPs)

Unit Linked Insurance Plans are one of the most preferred options to deal with the dual needs of insurance cover and investment opportunities. Such plans assist you in achieving life goals. Below is the list of Bajaj Allianz Unit-Linked Insurance Plans.

i) Bajaj Allianz Future Gain

Bajaj Allianz Future Gain is a unit-linked endowment insurance plan that allows maximum allocation of funds towards investments that assist you with huge returns. The plan provides the flexibility of unlimited switches.

Key Features

  • Two Investment Strategies: The plan comes out with the choice of two portfolio strategies that you can choose as per your needs.
  • Seven Funds: The plan provides seven fund options. You are free to choose the desired fund option as per your convenience.
  • Death/maturity Benefits in Installments: The plan offers the option to receive the death/maturity benefit in installments payable on a monthly, quarterly, half-yearly, or yearly basis.

Eligibility:

Entry Age

Minimum Age: 1 Year
Maximum Age: 60 Years

Maturity Age

Minimum Age: 18 years

Maximum Age: 70 years

Premium Paying Term

5-30 years

**Last Updated on 05-11-2020

ii) Bajaj Allianz Life Future Wealth Gain

Bajaj Allianz Life Future Wealth Gain is a non-participating, individual, life and unit-linked regular/limited premium payment endowment insurance plan. The plan comes out with the dual benefit of protection and investment. There are two variants of this plan - Wealth Plus and Wealth Plus Care.

Key Features

  • Loyalty Additions: The plan offers loyalty additions to stay invested. It would add a specified percentage of the annualized premium to the fund value; every five years from the 10th policy year onwards.
  • Maturity Benefit: Under both variants of this insurance plan, you will be liable to receive the fund value at the time of maturity.
  • Riders: The plan offers multiple rider options such as accidental death benefit rider, accidental permanent total/partial disability benefit rider, and waiver of premium benefit rider that enhance the overall coverage.

Eligibility:

Entry Age

Minimum Age: 0 Year
Maximum Age: 60 Years

Maturity Age

Minimum Age: 18 years

Maximum Age: 75 years

Minimum Sum Assured

10 times Annualized Premium

**Last Updated on 05-11-2020

iii) Bajaj Allianz Fortune Gain

Bajaj Allianz Fortune Gain is a unit-linked non-participating life insurance plan. It is a single premium product that assists you to stay invested in market-linked funds for a long tenure.

Key Features

  • Multiple Fund Options: The plan comes out with seven fund options that allow you to choose the desired ones as per your financial goals and risk profile.
  • Loyalty Additions: The policy offers 3% of the single premium in the form of loyalty additions. The same will assist you to enhance the maturity amount that you receive.
  • Systematic Switching Option: The plan allows you to opt for systematic switching under which the premium is invested in a liquid fund. The proportion of that amount is invested in a fund of your choice.

Eligibility:

Entry Age

Minimum Age: 1 Year
Maximum Age: 63 Years

Maturity Age

Minimum Age: 18 years

Maximum Age: 70 years

Minimum Sum Assured

Rs. 1.25 times Single Premium

**Last Updated on 05-11-2020

iv) Bajaj Allianz Life Goal Based Saving

Bajaj Allianz Life Goal Based Saving is a new-age unit-linked insurance plan (ULIP) that provides an opportunity to earn substantial benefits at affordable prices. The plan allows your funds to work towards your goals.

Key Features:

  • Return of Mortality Charges: Under regular/limited policies, you will receive the return on mortality charges at the time of maturity.
  • Partial Withdrawals: The plan allows the insured to make partial withdrawals from the funds in case of need.
  • Settlement Option With Return Enhancer: The plan comes out with a settlement option and a return enhancer feature that will assist you to get better returns.

Eligibility:

Entry Age

Minimum Age: 0 Year
Maximum Age: 60 Years

Maturity Age

Minimum Age: 18 years

Maximum Age: 75 years

Minimum & Maximum Sum Assured

10 times Annualized Premium

**Last Updated on 05-11-2020

v) Bajaj Allianz Life Principal Gain

Bajaj Allianz Life Principal Gain is a unit-linked insurance plan that offers capital protection. It helps you to boost your savings to achieve your life goals.

Key Features

  • Maturity Benefit: The plan offers 101% of the total premium to the insured as a minimum maturity benefit.
  • Guaranteed Loyalty Additions: At the time of maturity, the plan will add guaranteed loyalty additions to your fund value.
  • Option to Receive The Benefit in Installments: The plan allows the insured to receive maturity benefits in installments. You are free to choose the desired installment option.

Eligibility:

Entry Age

Minimum Age: 7 Years
Maximum Age: 60 Years

Maturity Age

Minimum Age: 18 years

Maximum Age: 70 years

Sum Assured

10 times of annual premium

**Last Updated on 05-11-2020

3. Bajaj Allianz Savings Plan

Savings plans are those life insurance plans that offer multiple avenues to grow and save your hard-earned money. Check below to know more about Bajaj Allianz Life savings plans.

i) Bajaj Allianz Life Guaranteed Saving Goal

Bajaj Allianz Life Guaranteed Savings Goal is a non-participating endowment plan. You just have to pay once to achieve your life insurance goals. The plan provides guaranteed benefits to fulfil your financial goals.

Key Features

  • Guaranteed Maturity Benefit: The plan offers guaranteed maturity benefit so that you can achieve all your financial goals with certainty.
  • Enhancer: If you bought the plan through the online channel, you will be liable to receive a guaranteed enhancer.
  • Two Sum Assured Options: The plan allows you to choose between high or low sum assured options to increase cover or enhance returns.

Eligibility:

Entry Age

Minimum Age: 8 Years
Maximum Age: 47 Years

Maturity Age

Minimum Age: 18 years

Maximum Age: 70 years

Sum Assured

1.5 times Single Premium

**Last Updated on 05-11-2020

The values may change as per the chosen plan option

ii) Bajaj Allianz Guaranteed Income Goal

Bajaj Allianz Guaranteed Income Goal is a non-linked and non-participating endowment plan that offers the choice to take benefits in a lump sum or installments. With several guaranteed benefits, the plan allows you to achieve your financial goals with certainty.

Key Features:

  • Guaranteed Maturity Benefit: Under this insurance plan, the insured will provide guaranteed benefit in lump sum or the form of regular income (as per your needs).
  • Extended Life Cover: You are allowed to extend your life cover beyond the policy tenure as per your convenience.
  • Loan Against Policy: You can take a loan during the policy tenure if the plan has acquired a surrender value.

Eligibility:

Entry Age

Minimum Age: 6 Years
Maximum Age: 60 Years

Maturity Age

Minimum Age: 18 years

Maximum Age: 72 years

Sum Assured

Minimum Sum Assured: Rs1,00,000

Maximum Sum Assured: Based on Board Approved Underwriting Policy

**Last Updated on 05-11-2020

iii) Bajaj Allianz Cash Assure

Bajaj Allianz Cash Assure is a traditional money back insurance plan. The plan offers money back savings at regular intervals that help you in achieving your financial goals.

Key Features

  • Guaranteed Money Back: The plan offers guaranteed money back (up to 150% of the sum assured) that depends upon the chosen policy tenure.
  • Bonus: On maturity, you receive a vested bonus plus a terminal bonus (if any). In addition to this, you will receive 60% of the sum assured.
  • Benefit From Shorter Premium Payment Term: The premium paying term is policy tenure minus five years.

Eligibility:

Entry Age

Minimum Age: 0 Years
Maximum Age: 54 Years

Maturity Age

Minimum Age: 18 years

Maximum Age: 70 years

Sum Assured

Minimum Sum Assured: Rs 1,00,000

Maximum Sum Assured: Based on Board Approved Underwriting Policy

**Last Updated on 05-11-2020

iv) Bajaj Allianz Life Income Assure:

Bajaj Allianz Life Income Assure is a non-linked, participating, limited premium payment and monthly income endowment savings plan. It offers a guaranteed income and makes sure that your family members live a stable life in case of your demise.

Key Features:

  • Monthly Income: Once the premium payment tenure is over, the plan starts offering guaranteed monthly income for 12 years.
  • Bonus: As it is a participating plan, you will be liable to receive accumulated bonus and terminal bonus (if any), which will be paid as a part of maturity or death benefit.
  • Rider Benefits: The plan offers a wide range of optional riders at affordable prices that allow you to enhance the basic cover.

Eligibility:

Entry Age

Minimum Age: 0 Years
Maximum Age: 50 Years

Maturity Age

Minimum Age: 18 years

Maximum Age: 74 years

Minimum Sum Assured

144*

Minimum GMI chosen Example: If the minimum GMI opted is Rs1,100 then, minimum Sum Assured will be ` 1,100 * 144 = Rs 1,58,400

**Last Updated on 05-11-2020

v) Bajaj Allianz Life Flexi Income Goal

Bajaj Allianz Life Flexi Income Goal is an investment plan that offers protection along with liquidity and flexibility to meet the changing needs of your child. It offers flexibility to receive your policy benefits after the premium paying term (in a lump sum or as regular income).

Key Features:

  • Guaranteed Monthly Income: The plan ensures regular cash flow every month in the form of a Guaranteed Monthly Income (once the premium paying term is over).
  • Joint life cover: The plan allows the policyholder to cover his/her spouse in this plan. Spouse Sum Assured can range from 50% to 100% of your Sum Assured.
  • Riders: Option to choose among five rider options to expand the coverage at a nominal extra cost

Eligibility:

Entry Age

Minimum Age:

0 Years

18 Years(Joint Life)


Maximum Age: 55 Years

Maturity Age

Minimum Age: 18 years

Maximum Age: 80 years

Premium Payment Term

5 to 12 Years

**Last Updated on 05-11-2020

vi) Bajaj Allianz POS Goal Suraksha

Bajaj Allianz Life POS Goal Suraksha is a non-linked, life, individual, non-participating and limited premium payment endowment savings plan that covers you and your family against all unwanted emergencies.

Key Features

  • Guaranteed Maturity Benefit: The plan offers guaranteed maturity benefit to the insured at the end of the policy tenure.
  • Guaranteed Additions: The plan also offers guaranteed additions at the time of maturity.
  • Policy Loan: The plan allows the insured to take a policy loan when required.

Eligibility:

Entry Age

Minimum Age: 18 Years
Maximum Age: 55 Years

Maturity Age

Minimum Age: 28 years

Maximum Age: 65 years

Sum Assured

Minimum: Rs 30,000

Maximum: Rs 10,00,000

**Last Updated on 05-11-2020

vii) Bajaj Allianz Save Assure

Bajaj Allianz Save Assure is a life, non-participating, individual limited premium endowment savings plan that not only protects your loved ones but also provides 115% of the sum assured at the time of maturity.

Key Features

  • Limited Premium Payment Term: The plan comes out with a premium paying term of policy tenure minus five years.
  • Monthly Installments: The insured can take the policy benefit in equal monthly installments for five or ten years.

Eligibility:

Entry Age

Minimum Age: 1 Year
Maximum Age: 60 Years

Maturity Age

Minimum Age: 18 years

Maximum Age: 75 years

Sum Assured

Minimum: Rs 1,00,000

Maximum: No Limit

**Last Updated on 05-11-2020

4. Bajaj Allianz Investment Plans

Investment plans assist the insured to make prudent investment decisions associated with wealth creation that enables them to achieve financial goals. Below is a list of Bajaj Allianz Investment Plans.

i) Bajaj Allianz Invest Assure

Bajaj Allianz Invest Assure is a non-linked, participating, individual and limited premium endowment saving plan. It is an exclusive plan filled with several benefits to assist you and your family to achieve life goals in an easy and disciplined manner.

Key Features:

  • Two Options: The plan carries two variants- Gold and Silver that come out with different sum assured and premium paying terms.
  • Maturity Benefit: At the time of maturity, the policyholder is liable to receive the sum assured along with bonus (as maturity benefit).
  • Death Benefit in Installments: Under the plan, you get the option to take the death benefit in equal monthly installments over a tenure of 5 or 10 years.

Eligibility:

Entry Age

Minimum Age:

  • Silver Variant – 0 year
  • Gold Variant – 18 years

Maximum Age: 50 Year

Maturity Age

Minimum Age: 18 years

Maximum Age:

  • Silver Variant – 70 years
  • Gold Variant – 65 years

Minimum Sum Assured

Rs 1,00,000

**Last Updated on 05-11-2020

ii) Bajaj Allianz Elite Assure

Bajaj Allianz Elite Assure is an insurance plan that offers the dual benefit of life cover and attractive returns on your investment.

Key Features:

  • Loyalty Additions: The plan offers loyalty additions of up to 315% of the guaranteed maturity benefit. It depends upon the chosen premium payment term and policy tenure.
  • Rider Options: The plan offers multiple rider options that you can avail of to enhance the basic cover at nominal prices.
  • High Sum Assured Rebate: This plan provides a premium rebate if the selected GMB is greater than Rs. 5 lakh.

Eligibility:

Entry Age

Minimum Age: 0 Years
Maximum Age: 55 Years

Maturity Age

Minimum Age: 18 years

Maximum Age: 70 years

Sum Assured

10 times of Annualized Premium

**Last Updated on 05-11-2020

iii) Bajaj Allianz My Wealth Goal

Bajaj Allianz Life My Wealth Goal is an insurance cum investment plan that carries features of two Bajaj Allianz Life plans – Bajaj Allianz Life Future Wealth Gain (a ULIP) and Bajaj Allianz Lifelong Assure, which is a non-linked whole life traditional plan.

Key Features:

  • Higher Returns: Under this plan, a part of the premium is invested in market-linked funds (chosen by you) that help you to earn higher returns.
  • Lifelong Income: At the end of the premium payment term, the plan offers a guaranteed cashback of 3% of the sum assured (every year) until the age of 99 years.
  • Lifelong Cover: The whole-life traditional part of the plan offers a life cover for 100 years on paying a premium for a limited tenure.

Eligibility:

Entry Age

Minimum Age: 10 Years
Maximum Age: 55 Years

Policy Term

100 minus Entry Age

Premium Payment Frequency

Yearly, half-yearly, quarterly and monthly

**Last Updated on 05-11-2020

iv) Bajaj Allianz Life Capital Goal Suraksha

Bajaj Allianz Life Capital Goal Suraksha is an ideal solution to diversify your investment. Not only does it secure your invested amount but also offers the potential of better returns along with life cover.

Key Features:

  • Guaranteed returns: The plan guarantees the capital invested at maturity.
  • The option of Limited premium payment term: The policyholder can opt for a limited premium payment term between 7 or 10 years.
  • Life Cover: The plan provides a death benefit to the Life Assured till maturity.

Eligibility:

Entry Age

Minimum Age: 18 Years
Maximum Age: 55 Years

Maturity Age

Minimum Age: 28 years

Maximum Age: 65 years

Premium Payment Frequency

Yearly, half-yearly, quarterly and monthly

**Last Updated on 05-11-2020

v) Bajaj Allianz Life Capital Assure Goal

Bajaj Allianz Life Capital Assure Goal helps the policyholder to diversify your investments, and not only secure your invested amount but also offers the potential of better returns along with life cover.

Key Features:

  • Guaranteed returns: The plan guarantees the capital invested at maturity.
  • Potential of better returns: The ULIP exposure provides the potential for better returns.
  • Life Cover: The plan provides a death benefit to the Life Assured till maturity.

Eligibility:

Entry Age

Minimum Age: 8 Years
Maximum Age: 60 Years

Maturity Age

Minimum Age: 18 years

Maximum Age: 70 years

Premium Payment Frequency

Yearly, half-yearly, quarterly and monthly

**Last Updated on 05-11-2020

5. Bajaj Allianz Health Care Plan

Usually, general insurance companies deal with health insurance plans but there are few coverage options that you will only get in health insurance by a life insurance company. Bajaj Allianz offers a single, unique yet effective health insurance plan, which is mentioned below.

i) Bajaj Allianz Health Care Goal

Bajaj Allianz Health Care Goal is a non-participating, regular/limited premium payment individual critical illness policy that covers 36 critical illnesses including heart and cancer, along with an optional family cover & return of premium.

Key Features:

  • Four Variants: The plan comes out with four variants to cater to the different needs of the customers. These variants are mentioned below.
  • Critical Long Term Health Care
  • Critical Long Term Health Care Plus
  • Long Term Family Health Care
  • Long Term Family Health Care Plus
  • Cover Spouse & Children: The plan offers the option to cover your spouse and children under two variants of the plan- Long Term Family Health Care and Long Term Family Health Care Plus.

Eligibility:

Entry Age

Minimum age:

  • Adult 18 years
  • Child 5 years

Maximum age:

  • Adult 65 years
  • Child 17 years

Maximum Maturity Age

  • Adult 75 years
  • Child 37 years

Minimum Sum Assured

Policyholder: Rs 5,00,000

Child: Rs 1,25,000

Spouse: Rs 2,50,000

Maximum Sum Assured

Rs 50,00,000

**Last Updated on 05-11-2020

6. Bajaj Allianz Retirement Plans

These plans are designed to deal with your post-retirement requirements. It helps you to live a joyful retirement. Various Bajaj Allianz Retirement Insurance Plans are mentioned below.

i) Bajaj Allianz Life Long Life Goal

Bajaj Allianz Life Long Life Goal is a non-participating and individual regular premium payment unit-linked insurance plan. The plan invests your money in an investment portfolio chosen by you and offers great returns over a long tenure. It assists you to accumulate a healthy retirement corpus.

Key Features:

  • Retired Life Income: The plan allows the insured to opt for retired life income to meet retirement goals.
  • Loyalty Additions: The plan provides loyalty additions every year from the 5th policy year until the 25th year of the policy.
  • Variants: The plan provides a choice of 2 plan variants- LongLife Goal without Waiver of Premium & LongLife Goal with Waiver of Premium.

Eligibility:

Minimum Entry Age

Life Assured

0 Years

Policyholder (LongLife Goal with Waiver Of Premium)

18 Years

Policyholder (LongLife Goal without Waiver Of Premium)

Maximum Age at Entry

Life Assured

65 Years

Policyholder (LongLife Goal with Waiver Of Premium)

Policyholder (LongLife Goal without Waiver Of Premium)

No Limit

Maturity Age

Minimum & Maximum Age of Maturity is 99 Years

**Last Updated on 05-11-2020

ii) Bajaj Allianz Life Pension Guarantee

Bajaj Allianz Life Pension Guarantee is an immediate annuity plan that offers regular guaranteed income depending on the chosen annuity payment frequency. It even allows you to add your spouse to the policy.

Key Features:

  • Option To Cover Spouse: The plan allows you to insure your spouse under the same plan. In case of your demise, the policy will keep on offering benefits to the spouse depending on the chosen option.
  • Return of Purchase Price: The plan offers an option under which the purchase price is returned to the nominee/spouse after the demise of the annuitant.

Eligibility:

Entry Age

Minimum Age: 37 Years
Maximum Age: 80 Years

Minimum Purchase Price

Rs 25,000

Maximum annuity per installment 

No Limit

**Last Updated on 05-11-2020

iii) Bajaj Allianz Life Retire Rich

Bajaj Allianz Life Retire Rich is a unit-linked deferred pension plan that assists you to invest and secure your post-retirement goals. It helps you leverage the advantage of investing in a market-linked fund to build a corpus.

Key Features:

  • Guaranteed Vesting Benefit: The policy provides a guaranteed vesting benefit (GVB) of 101% of the total premiums paid.
  • Pension Builder Fund: This fund aims to offer capital appreciation by investing in a suitable mixture of debt and equities.

Eligibility:

Entry Age

Minimum Age: 30 Years
Maximum Age: 73 Years

Vesting Age

Minimum Age: 37 years

Maximum Age: 80 years

Policy Term

Minimum: 7 Years

Maximum: 30 Years

**Last Updated on 05-11-2020

7. Bajaj Allianz Child Insurance Plans

Child plans include the benefits of life insurance cover and savings. They ensure that all dreams for your child are fulfilled. Check below to know more about Bajaj Allianz Child Insurance plans.

i) Bajaj Allianz Young Assure

Bajaj Allianz Young Assure is a traditional savings cum insurance plan. It ensures that your child achieves all life goals.

Key Features:

  • Maturity Benefit: The plan offers guaranteed maturity benefits along with guaranteed additions (up to 90% of the guaranteed maturity benefit) at the time of maturity.
  • Bonus: On maturity, you will receive a vested bonus along with a terminal illness bonus.
  • Cash Installment Option: The plan offers the option to get the maturity benefit over three, five, or seven years (as per the needs of your child).

Eligibility:

Entry Age

Minimum Age: 18 Years
Maximum Age: 50 Years

Maturity Age

Minimum Age: 28 years

Maximum Age: 60 years

Sum Assured

10 times Annualized Premium

**Last Updated on 05-11-2020

ii) Bajaj Allianz Lifelong Assure

Bajaj Allianz Lifelong Assure is a whole life insurance plan that provides the required financial support to fulfil your child's life goals. The plan offers income and life cover till you turn 100 years.

Key Features

  • Guaranteed Cashback: The plan offers guaranteed cashback of 3% of the sum assured (from the end of premium paying term) till the age of 99 years.
  • Cash Bonus: The plan starts offering a cash-bonus from the end of the 6th policy year until the age of 99 years.
  • Whole Life Cover: The plan provides a life insurance cover up to the age of 100 years, along with guaranteed cashback and cash bonus.

Eligibility:

Entry Age

Minimum Age: 10 Years
Maximum Age: 55 Years

Policy Term

100 minus Age at Entry

Sum Assured

Minimum: Rs, 1,00,000
Maximum: No Limit

**Last Updated on 05-11-2020

What Are The Different Bajaj Allianz Life Insurance Rider Plans?

Bajaj Allianz Life Insurance Company offers a wide range of rider options to cater to different needs of customers. Below is the list of all such riders.

1. Bajaj Allianz Traditional/ULIP Waiver of Premium Benefit Rider

This rider waives off all future premiums in case of accidental permanent total disability, the first diagnosis of the critical illness or death of the policyholder.

2. Bajaj Allianz Traditional/ULIP Family Income Benefit Rider

In the first occurrence of death, accidental permanent total disability or first diagnosis of any of the specified 11 critical illnesses, the rider provides 1% of the rider sum assured every month for a period of the rider term (subject to a minimum of 10 years).

3. Bajaj Allianz Traditional/ULIP Accidental Death Benefit Rider

Bajaj Allianz Accidental Death Benefit Rider is an effective rider available at a nominal price. If the insured dies in an accident, this rider pays additional rider sum assured to the beneficiary.

4. Bajaj Allianz Traditional/ULIP Critical Illness Benefit Rider

In case the insured is diagnosed with any of the 11 specified critical diseases, this pays the rider sum assured (depending upon the terms and conditions).

5. Bajaj Allianz Traditional/ ULIP Accidental Permanent Total/Partial Disability Benefit Rider

Under this rider, the insured receives a lump sum amount in case of an accidental permanent total or partial disability (depends upon the terms & conditions).

Why Invest in Bajaj Allianz Life Insurance Through PolicyX.com?

PolicyX.com is one of the most trusted online insurance web aggregator companies in India. The platform has partnered with multiple life insurance companies to serve a wide range of life insurance products to cater to different needs of customers. With the trust of existing users and life insurance partners, the company makes sure to deliver the best and reliable services. There are multiple reasons to choose PolicyX.com over any other platform. Let’s take a look at them-

  • IRDA approved online insurance web aggregator.
  • It is an SSL secured portal, which ensures that all your personal and banking details are safe and secure.
  • It offers an easy and free online comparison process that assists you in comparing all available options and choosing the best one as per your needs and budget.
  • Minimal documentation.
  • 24*7 customer assistance to assist you with all your queries.

How To File a Claim Under Bajaj Allianz Life Insurance Company?

Bajaj Allianz Life Insurance offers a simple and hassle-free claim process. Steps to file a Bajaj Allianz Life Insurance are mentioned below-

  • Visit the official website of the Bajaj Allianz Life Insurance Company.
  • Take the cursor to the 'Customer Service' and click on 'Claim Assistance'.
  • Scroll down and take your cursor to 'Step1' and click on 'Read more'.
  • Fill the basic details such as Policy Number, Name, Pin Code, E-mail ID, and Phone Number.
  • Click on the tab 'Proceed to Download Form'.
  • Attach the required documents and submit them to the nearest branch office.
  • The Bajaj Allianz team will analyze the details and keep you updated via SMS at each stage.
  • The company might contact you through a call or a letter in case of any additional document.
  • After analyzing, the company will settle or reject the claim within 30 days.
  • In case of approval, the company will transfer the claim amount to the registered bank account.

What Documents Are Required to file a claim under Bajaj Allianz Life Insurance?

  • Policy papers
  • Attested copy of death certificate
  • Death claim intimation form
  • NEFT mandate
  • Nominee's photo identity & address proof like a copy of Passport, Voter identity card, Aadhar (UID) card, etc
  • Any other documents requested by the company

FAQs

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 but is waiting for the proof, it will hold the money as directed by the IRDAI.

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.

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

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

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.

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

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.

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.

Last updated on 05-11-2020