Bajaj Allianz Life Insurance
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Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance is one of the leading life insurance companies in India. It is a joint venture between two powerful entities called Bajaj Finserv Ltd. and Allianz SE. The company commenced its operations in 2001 and keeps on spreading wings all over the country. 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 to group life insurance plans that cater to different needs of its customers.

Highlights

Claim Settlement ratio

95.01%

Customer assistance

24*7

Branches

604+

**Last Updated on 26-06-2020

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

Below is the required list of all life insurance plans in which Bajaj Allianz Life Insurance deals.

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 Life Goal Assure
  • 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 Life Super Life Assure
  • Bajaj Allianz Income Assure
  • Bajaj Allianz POS Goal Suraksha
  • Bajaj Allianz Save Assure
Investment Plans
  • Bajaj Allianz Invest Assure
  • Bajaj Allianz Elite Assure
  • Bajaj Allianz My Wealth 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 Life Young Assure
  • Bajaj Allianz Life Lifelong Assure

1. Bajaj Allianz Term Insurance Plans

Term insurance plans are also popular by the name of pure protection plans. Such plans assist the insured to secure the future of their loved ones. In the case of the demise of the insured, the plan will assist their family to live a stable and happy life. Check below-mentioned 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 you 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.

Return of Premium: The plan allows you to receive the total paid premium at maturity if no claim is made during the policy tenure. 

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

18 years to 65 years

Maturity age

With ROP - 75 years

Without ROP - 85 years

Whole Life - 99 years

Sum assured

Rs. 50 lakhs to no limit (depends upon underwriting process)

Premium payment term

5 years to 67 years

**Last Updated on 26-06-2020

ii) Bajaj Allianz iSecure Term Insurance Plan

Bajaj Allianz iSecure Term Insurance Plan is a non-participating term insurance plan. It enables you to offer financial security to your family. 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.

Payouts: The plan offers the opportunity to the nominee to receive the death benefit in equal monthly installment for the chosen policy tenure.

Riders: The plan comes out with multiple add-on options that may assist you to enhance the basic term cover.

Eligibility

Entry age

18 years to 60 years

Maturity age

28 years to 70 years

Policy term 

10, 15, 20, 25 & 30 years

Sum assured

Rs.250,000 to no limit

**Last Updated on 26-06-2020

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.

Rebate: You will receive huge rebates in premium only by opting for a high sum assured of 5 lakhs or above.

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

18 years to 60 years

Policy tenure

10,15,20 & 25 years 

Maturity age

28 years to 70 years

Sum assured 

250000 to no limit

**Last Updated on 26-06-2020

iv) Bajaj Allianz iSecure Loan 

Bajaj iSecure Loan Policy is a decreasing term insurance plan. The plan assists your family in covering any 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 in 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.

Create a Schedule: The life insurance cover depends upon loan amount, interest, and rate. Therefore, the plan allows you to create your own schedule of insurance as per your needs.

Eligibility

Entry age

18 years to 60 years

Policy tenure

10,15, 20 & 25 years

Sum assured

3 lakhs to no limit

Maturity age

28 years to 65 years

**Last Updated on 26-06-2020

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 only if you have not filed any claim.

Multiple Coverage Options: The plan allows you to select the coverage option as per your own convenience.

Limited Premium Payment Terms: The plan offers life cover till 100 years of age but for the same, you have to pay a premium for a limited period of 5, 7, 10, or 15 years only.

Coverage Options: The plan offers three coverage options to deal with the multiple needs of your family.

Eligibility

Entry age 

25 years to 55 years

Policy tenure

(100 minus Age at Entry) years

Premium payment frequency

Yearly, half-yearly, quarterly and monthly

Sum assured 

20 lakhs to no limit

**Last Updated on 26-06-2020

vi) Bajaj Allianz e-Touch Online Term Plan

Bajaj Allianz e-Touch 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 customers. Such variants are mentioned below-

  • Shield.
  • Shield Plus.
  • Shield Super.
  • Shield Supreme.

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.

Installment Benefit: Under this plan, the nominee has the choice to take the life benefit only or the accidental death benefit only or both either in a lump sum or in monthly installments.

Low Premium: The plan rewards the insured for leading a healthy lifestyle by lowering their premiums. 

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 

18 years to 65 years

Maturity age 

28 years to 75 years

Sum assured

50 lakhs to no limit

Premium paying term

10 years to 40 years

**Last Updated on 26-06-2020

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. It helps in having a worry-free life.

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, you are liable to get the entire sum assured as an accelerated benefit.

No- medical Screening: To invest under this plan, you don't have to undergo any medical examination.

The Choice To Take Death/terminal Illness Benefits in a Lump Sum: Under this insurance plan, you will receive an option to discontinue the monthly installment anytime and receive the death or terminal illness benefit as a lump sum amount.

Eligibility

Entry age

18 years to 50 years

Policy tenure

5/7/10/15/20 years

Maturity age

23 years to 60 years

Sum assured

Rs.300000 to Rs.1500000

**Last Updated on 26-06-2020

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 Life Goal Assure

Bajaj Allianz Life Goal Assure is a non-participating, individual, life, regular & limited premium unit-linked endowment plan. It is a life goal based unit-linked insurance plan that comes out with the loyalty additions (payable from 6th policy year) and fund booster (payable at maturity).

Key Features

Return of Mortality Charge: The plan pays back the entire mortality charges or life cover at the time of maturity.

Return Enhancer: The plan offers a maturity or death amount in installments. It allows the insured to stay invested to increase returns on his/her investments.

Different Portfolio Strategies: The plan comes out with 4 portfolio strategies as per your risk appetite that allows you to attain your financial goals.

Eight Funds: The plan offers 8 funds options to deal with multiple investment needs of customers.

Eligibility

Entry age 

0 to 60 years

Policy term

5/10/15/20 years 

Maturity age

75 years

Premium payment frequency

Yearly, half-yearly, quarterly and monthly

**Last Updated on 26-06-2020

ii) Bajaj Allianz Future Gain

Bajaj Allianz Future Gain is a unit-linked endowment insurance plan that allows maximum allocation of your 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 between 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 options as per your own convenience.

Partial Withdrawals: You are free to make partial withdrawals after the completion of the 5th year.

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

1 year to 60 years

Maturity age

18 years to 70 years

Policy term

10 years to 30 years

Premium payment frequency

Yearly, half-yearly, quarterly and monthly

**Last Updated on 26-06-2020

iii) Bajaj Allianz 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 investments. There are two variants of this insurance 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. 

Fund Booster: The plan adds a percentage of the annual premium to the fund value at the time of maturity that enhances the overall maturity amount.

Maturity Benefit: Under both variants of this insurance plan, you will be liable to receive the fund value at the time of maturity.

Rider: 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 coverage.

Eligibility

Entry age

0 to 60 years

Maturity age

18 years to 75 years

Policy Term

5/7/10/15 years

Premium payment frequency

Yearly, half-yearly, quarterly and monthly

**Last Updated on 26-06-2020

iv) 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.

Maturity Benefit in Installments: The plan allows the insured to receive the maturity benefits in installments on a monthly, quarterly, half-yearly, or annual basis.

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

1 to 63 years

Maturity age

18 years to 70 years

Policy term

7 years to 30 years

Single premium

Rs.50000 to no limit

**Last Updated on 26-06-2020

v) 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 with huge returns.

Eight Funds: The plan offers a choice of 8 funds so that you can choose the desired options as per your risk appetite.

Eligibility

Entry age 

0 to 60 years

Policy term

5/10/15/20 years

Maturity age 

18 years to 75 years

Sum assured

10 times of annualized premium

**Last Updated on 26-06-2020

vi) Bajaj Allianz Life Principal Gain

Bajaj Allianz Life Principal Gain is a unit-linked insurance plan under which you get capital protection. It helps you to secure your savings and achieve 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 

7 years to 60 years

Maturity age

18 years to 70 years

Premium payment term

5 to policy term chosen years

Sum assured

10 times of annualized premium

**Last Updated on 26-06-2020

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. 

Single Premium: To remain invested in this plan, you have to make the premium payment only once.

Two Sum Assured Options: The plan allows you to choose between high or low sum assured to increase cover or enhance returns.

Eligibility

Entry age

8 years 47 years

Sum assured

1.5 times single premium to 10 times of single premium

Maturity age

18 years to 70 years

Premium amount

Rs. 25,000 to no limit (as per Board Approved Underwriting Policy).

**Last Updated on 26-06-2020

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 in 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 the lump sum or in the form of regular income as per your needs.

Two Variants: You will get two variants under this plan- lump sum benefit and income benefit.

Extended Life Cover: You are allowed to extend your life cover beyond the policy tenure as per your own convenience.

Loan Against Policy: You can take a loan during the policy tenure if the plan has acquired a surrender value.

Eligibility

Entry age

6 years to 60 years

Maturity

18 years to 72 years

Termination age

84 years

Premium payment frequency

Yearly, half-yearly, quarterly and monthly

**Last Updated on 26-06-2020

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 all your financial goals.

Key Features

Guaranteed Money Back: The plan offers guaranteed money back of 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.

Rider: The plan comes out with 5 optional riders to increase the cover at a nominal cost.

Benefit From Shorter Premium Payment Term: The premium paying term is five years less than the policy tenure. 

Eligibility

Entry age 

0 to 40 years

Maturity age

18 years to 70 years

Policy term

16/20/24 and 28 years

Sum assured

Minimum sum assured: Rs.1,00,000

Maximum sum assured: Subject to underwriting

**Last Updated on 26-06-2020

iv) Bajaj Allianz Life Super Life Assure

Bajaj Allianz Life Super Life Assure is a non-linked, individual, participating and regular premium payment endowment savings plan. The plan offers dual benefits of savings and life cover in one policy. It also assists you to save in a disciplined manner towards your financial goals.

Key Features

Variants: The plan comes out with two variants called Super & Life. You are free to choose the desired one as per your choice.

Sum Assured Plus Income Benefit: In case of the demise of the insured, the plan will offer sum assured along with income benefit. It will be an additional 100% of the sum assured paid in 120 monthly installments.

Maturity Benefits: The plan will pay maturity benefit -100.1% of total premiums. The maturity benefit will remain the same for both variants.

Bonus: At the time of maturity, you will receive an accumulated bonus along with a terminal bonus.

Eligibility

Entry age

18 years to 55 years

Policy term

12 to 20 years

Maturity benefit

18 years to 70 years

Premium payment frequency

Yearly, half-yearly, quarterly and monthly

**Last Updated on 26-06-2020

v) Bajaj Allianz 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 as well.

Key Features

Monthly Income: Once the premium payment tenure is over, the plan starts offering guaranteed monthly income over a period of 12 years.

Two Variants: The plan comes out with two variants that mean there are two different ways to receive the death benefit.

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

0 to 50 years

Maturity age

18 to 74 years

Policy term

17, 19, 22, 24 years

Premium payment term

5/7/10/12 years

**Last Updated on 26-06-2020

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.

Eligibility

Entry age

18 years to 55 years

Maturity age

28 years to 65 years

Sum assured

Rs.30 thousand to 10 lakhs

Premium payment frequency

Yearly, half-yearly, quarterly and monthly

**Last Updated on 26-06-2020

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

Guaranteed Maturity/death Benefit: The plan offers a guaranteed maturity or death benefit of 115% of the sum assured.

Rider: The plan allows you to enhance the basic cover with the help of optional riders which are available at a nominal premium.

Limited Premium Payment Term: The plan comes out with a premium paying term of five years less than the policy tenure.

Monthly Installments: The insured can take the policy benefit in equal monthly installments for five or ten years.

Eligibility

Entry age

1 year to 60 years

Maturity age

18 years to 75 years

Policy term

15 & 17 years

Sum assured

Rs. 1 lakh to no limit

**Last Updated on 26-06-2020

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. Moreover, the plan comes out with financial security or life cover for your family.

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.

Bonus: The plan offers accumulated bonus plus terminal bonus on maturity.

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

0 to 50 years

Maturity age 

18 years to 70 years

Sum assured

Rs.1 lakh to no-limit

Maximum premium payment term

30 years

**Last Updated on 26-06-2020

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. The life cover ensures that your family members can attain their life goals in case of your demise whereas the returns help you to achieve financial goals.

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

0 to 55 years

Maturity age

18 years to 70 years

Policy term

15,20,25 and 30 years

Sum assured

10 times of annualized premium

**Last Updated on 26-06-2020

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 your premium is invested in market-linked funds chosen by you that help you in earning 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

10 years to 55 years

Policy tenure

100 minus entry age

Premium payment frequency

Yearly, half-yearly, quarterly and monthly

**Last Updated on 26-06-2020

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. Such 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.

Returns of Premium at Maturity: If you have not taken any critical illness benefit, the plan will offer a total paid premium in return at the time of maturity.

Cover Spouse & Children: The plan offers the option to cover your spouse and children under two variants of the plan called Long Term Family Health Care and Long Term Family Health Care Plus.

Tax Benefits: The premium that you pay under this health insurance plan is liable to offer tax benefit under section 80D of Income Tax Act, 1961.

Eligibility

Entry age

5 years to 65 years

Maturity age

Child -37 years

Adult -75 years

Policy term

10/15/20 years

Premium payment frequency

Yearly/half-yearly/quarterly/yearly

**Last Updated on 26-06-2020

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

Entry age

No limit

Maturity age

99 years

Policy term 

99 years minus age at the inception of the policy

Sum assured

10 times of the annualized premium

**Last Updated on 26-06-2020

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 in the policy. 

Key Features

Multiple Options: The plan provides various annuity options which include annuity for life, annuity for fixed period & life thereafter, joint life, or one that returns purchase price in case of demise.

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

37 years to 80 years

Minimum purchase price

Rs.25000

Maximum purchase price

No limit

Maximum annuity per installment

No limit

**Last Updated on 26-06-2020

iii) Bajaj Allianz Life Retire Rich

Bajaj Allianz 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. At the end of the chosen policy tenure, the vesting benefit will be higher of GVB or the fund value.

Pension Builder Fund: The aim of this fund is to offer capital appreciation by investing in a suitable mixture of debt and equities.

The Option of paying a Top-up Premium: The plan allows you to make an additional investment anytime in the last five years of the plan to enhance the fund value.

Entry age

30 years to 73 years

Vesting age

37 years to 80 years

Premium payment term

5 years to no limit (up to the chosen policy term)

Top-up premium

Rs.5000 to no limit

**Last Updated on 26-06-2020

7. Bajaj Allianz Child Insurance Plans

A child plan includes 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's journey.

Eligibility

Entry age

18 years to 50 years

Maturity age

28 years to 60 years

Guaranteed maturity benefit

Minimum -Rs. 1,00,000

Maximum- As per Board Approved Underwriting Policy

Sum assured

10 times the annualized premium

**Last Updated on 26-06-2020

ii) Bajaj Allianz Lifelong Assure

Bajaj Allianz Lifelong Assure is a whole life insurance plan that provides the required financial support to you so that you can work better on 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 till the age of 99 years.

Cash Bonus: The plan starts offering a cash-bonus from the end of the 6th policy year till 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.

Death Benefit: The plan comes out with a guaranteed death benefit of up to 300% of the sum assured (depending upon the chosen policy tenure).

Eligibility

Entry age

10 to 50 years

Policy term

100 minus entry age

Sum assured 

Rs.1 lakh to no-limit

Premium payment frequency

Yearly, half-yearly, quarterly and monthly

**Last Updated on 26-06-2020

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.

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

1. Bajaj Allianz Waiver of Premium Benefit Rider

This rider assists you to waive off all future premiums in case of death, permanent total disability, or diagnosis of the critical illness. It acts as a helping hand during difficult stages of life.

2. Bajaj Allianz Family Income Benefit Rider

It will provide 1% of the rider sum assured on a monthly basis for the remaining rider tenure or 10 years. A person can take advantage of this rider only in case of permanent total disability, death, or diagnosis of the specified 11 critical illnesses.

3. Bajaj Allianz Accidental Death Benefit Rider:

Bajaj Allianz Accidental Death Benefit Rider is an effective rider available at a nominal price. In case of the insured demise due to an accident, this rider will pay additional rider sum assured to the beneficiary.

4. Bajaj Allianz Critical Illness Benefit Rider

In case the rider gets diagnosed with any of the 11 specified critical diseases, it will pay the rider sum assured (depending upon the terms and conditions).

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

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

6. Bajaj Allianz Ulip Waiver of Premium

This rider waived off all future premiums on death, accidental permanent total disability, or diagnosis of any of the specified critical illnesses.

7. Bajaj Allianz ULIP Accidental Permanent/ Partial Disability Benefit Rider

The plan pays a lump sum amount to the policyholder in case of accidental permanent total/partial disability.

8. Bajaj Allianz ULIP Accidental Death Benefit Rider

In case of any unfortunate event due to the accident of the insured, the beneficiary will receive an additional rider sum assured along with the death benefits.

9. Bajaj Allianz ULIP Critical Illness Benefit Rider

Under this rider, the insured receives a sum equal to the rider sum assured in case of diagnosis of any of the 11 critical illnesses.

10. Bajaj Allianz ULIP Family Income Benefit Rider

This rider offers a regular monthly income which is equal to 1% of the rider sum assured for the remaining rider tenure or 10 years whichever is higher.

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

PolicyX.com is the most trusted online insurance web aggregator company 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 is making sure to offer the best and reliable services. There are multiple reasons to choose PolicyX.com over any other platform which are mentioned below-

  • IRDA approved online insurance web aggregator.
  • It is an SSL secured portal which ensures that all your personal and banking details are safe and secured.
  • 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. The company provides different ways to process your life insurance claims. 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 to the '3 Quick Simple Steps' to process your claim.
  • 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'.
  • Now attach the required documents and submit them to the nearest branch office.
  • The Bajaj Allianz team will analyze the claim 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 Are The Different Documents Required to file a claim under Bajaj Allianz Life Insurance?

  • Policy documents
  • 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.

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.

An NRI can easily invest in a term insurance plan by submitting required documents such as age proof and address proof to prove citizenship of India. Plus, they should submit income proof like bank statements or payslips along with medical test reports.

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.

Yes, sure. The Claims Review Committee will look into the matter with the results that are communicated to you.

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. Enter the data – Provide basic details such as the life insurance policy number and your birthday.

  • Policy surrender form.
  • A self-attested copy of your ID proof.
  • Policy bond.
  • Any canceled 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 26-06-2020