Bajaj Allianz Claim Settlement Ratio
  • Check the CSR of Bajaj Allianz
  • Status of Bajaj Allianz CSR 2021-22
  • Claim Process of Bajaj Allianz
Bajaj Allianz Term Insurance
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Bajaj Allianz Term Insurance claim settlement Ratio

With the availability of numerous term insurance companies, selecting an appropriate and suitable term insurance plan is quite a difficult task. Sometimes you end up selecting an insurance plan that doesn't meet your complete requirements due to a lack of awareness. This carelessness of yours may cause a lot of stress to your family members.

Although there is no standard parameter to decide which companies are at the top, however, by doing some research, you can definitely check the claim settlement ratio and analyse the claim settling ability of the Term insurance companyyou are going to invest in.

Other Term Insurance Claim Settlement Ratio

What is Claim Settlement Ratio?

An insurer's claim settlement ratio is the number of claims settled out of multiple claims made in a given financial year. Higher CSR of insurance businesses is desired for improved claim settlement processes. Always verify the CSR while picking an insurer as it's also a sign of the insurer's trustworthiness.

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Claim Settlement Ratio of Bajaj Allianz Term Insurance

As per IRDAI, Bajaj Allianz Term Insurance Claim Ratio is 99.04%. The number of claims settled out of the total claims received by the insurance company is known as the Claim Settlement Ratio. CSR is one of the aspects to consider while purchasing a term insurance policy. The claim settlement ratio of Bajaj Allianz Term Insurance was 98.48 in IRDAI's Annual Report for 2020-21, showing the company's strong claims-paying capabilities and financial reputation.

In the graph below, we have illustrated the yearly trend of the CSR of Bajaj Allianz Life Insurance, over the past three years.

Claim Settlement Ratio of Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance Claims Settlement Performance for 2020-2021

Parameters Claims pending at the start of the period Claims intimated Total Claims Claims Paid Claims Repudiate Claims Rejected
No. of Policies 2 14,331 14,333 14,115 213 0

Claim Process of Bajaj Allianz Term Insurance 

Step 1 - Visit the official website of Bajaj Allianz Life Insurance Company.

Step 2 - Click on "Customer Service" and then select "Claim Assistance".

Step 3 - Scroll your cursor to the ‘Read More’ section.

Step 4 - Fill in all the required personal details such as Name, Address, Pincode, Email-ID, Policy number, and Phone number 

Step 5 - Then, proceed to Download Form.

Step 6 - Submit all the required documents to the nearest office branch.

Step 7 - After analyzing all the documents and information provided by you, the insurer will send you the approval via SMS, or email.

Step 8 - If information is found to be incorrect, the company can reject the claim within 30 days.

Step 9 - Once the claim is approved, the company will transfer the claim amount to the registered bank account.

What Our Customers Have to Say

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Sanjeev

Hyderabad

May 20, 2024

SUD Life term plan truly stands out my expectations as I got SUD Life term plan along with additional riders at very affordable premiums.

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Sumit

Coimbatore

May 20, 2024

I am impresses with the hassle free and quick claim settlement process of SUD Life. Thanks to PolicyX who guided me to get my claim settled.

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Barkha

Delhi

May 20, 2024

Bought SUD Life Family Income Benefit Rider plan to secure the future of my plan financially even in my absence.

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Geetanjali

Kolkata

May 20, 2024

I was looking for a term plan to secure the future of my family. So I contacted PolicyX and one of their representatives Mr. Vaibhav helped me choose SUD Life term plan.

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Armaan khan

Agra

May 17, 2024

I recently purchased a Pramerica term insurance policy from Policyx.com. The customer service team was very helpful in answering all my queries and guiding me through the application process. I...

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Rahul Yadav

Indore

May 17, 2024

PolicyX’s dedicated support made renewing my Bandhan Life Insurance policy easy. I’m absolutely delighted with the service offered by PolicyX Insurance Advisor.

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Priyanshu Sharma

Delhi

May 17, 2024

I bought a Bandhan Life Insurance through PolicyX, and I must say the level of communication and assistance I have received has been truly impressive.

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Yash Tomar

Bhopal

May 17, 2024

After getting advice from the PolicyX experts, I chose a Bandhan Life Insurance term plan. Thank you, PolicyX, for helping me buy a term plan at such a low premium.

Naval Goel

Reviewed By: Naval Goel

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.