Bajaj Life Insurance: Policy Details, Premium & Benefits

Bajaj Life Insurance

Bajaj Life Insurance Limited (formerly known as Bajaj Allianz Life Insurance Company Limited) is one of India's leading life insurers, offering solutions catering to protection and financial planning needs. Founded in August 2001, the company operates through 597 branches, a network of over 1.6 lakh agents, and bancassurance tie-ups with leading banks such as Axis, Bandhan, and IDFC First. With this strong presence, Bajaj Life makes insurance easily accessible across the country. Its plans are designed to protect families, provide financial security, and deliver lasting peace of mind.

Bajaj Life Insurance

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Why Should You Buy Bajaj Life Insurance Plans?

Below are the reasons why you should consider buying a Bajaj Life Insurance policy:

Financial Protection: Bajaj Life Insurance offers pure life insurance coverage to protect you and your loved ones in case of unexpected events like illness, disability, or death.
Wealth Creation: In addition to pure life insurance cover, Bajaj also provides wealth creation benefits that allow you and your family to fulfil all your financial goals in the long run.
Flexible Death Benefit Payout Mode: You can receive the maturity benefit of your Bajaj Life Insurance policy as a lump sum payment or in installments, depending on what suits you best.
Affordable Premiums: Bajaj Life Insurance offers comprehensive plans, such as term life insurance plans, at very affordable premium rates so you can financially secure your family without any hassle.
High Claim Settlement Ratio (CSR): Bajaj Life Insurance has one of the country's highest CSRs. This implies that the insurer was able to settle a very high number of claims in that year. As per the IRDAI Report FY 2024-25, the CSR of Bajaj was 99.29%
Tax Benefits: Buying a Bajaj Life Insurance policy can also provide tax benefits under Section 80C& 10(10D) of the Income Taand961. Therefore, you can not only secure your financial future but also enjoy the tax benefits, making Bajaj Life Insurance a smart choice for your insurance needs.

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day⁺

₹50
LAKH

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₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

What Are The Various Life Insurance Policies Offered By Bajaj Life Insurance?

The various life insurance policies in multiple segments offered by Bajaj Life Insurance are as follows:

Term Insurance Plans
ULIP Plans
Savings Plans
Investment Plans
Retirement Plans
Child Plans

What Are The Bajaj Life Insurance Plans?

Below are the Bajaj Life Insurance Policy:

Bajaj Term Insurance Plans

Bajaj Term Insurance Plan offers financial security and protection for your loved ones through affordable premiums and customisable life insurance coverage options. You can use a term insurance premium calculator to check your profile's applicable Bajaj term insurance premiums. Below are the Bajaj Term Insurance plans:

Bajaj Life Insurance Policy	Entry Age	Maturity Age	Sum Assured
Bajaj eTouch II	18 to 55 years	28 to 99 years	Rs. 50 Lakhs to 10 Crores
Bajaj iSecure II	18 to 65 years	28 to 85 years	Rs. 25 to 50 Lakhs
Bajaj Superwoman Term	28 to 99 years	–	Rs. 50 Lakhs to 10 Crores
Bajaj Life Smart Protection Goal	18 to 65 years	99 years	Rs. 50 Lakhs t0 1 crore
Bajaj Life Diabetic Term Plan II Sub 8 HbA1c	30 to 60 years	75 years	Rs. 25 Lakhs to No Limit
Bajaj Saral Jeevan Bima	18 to 65 years	70 years	Rs. 5 to 25 Lakhs

*Note: It is suggested that you first know what is term insurance and what its key features are before you buy term plan from Bajaj Life Insurance.

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Bajaj ULIP Plans

Bajaj ULIP Plans combine investment and insurance, allowing you to grow wealth while securing your family's future. Below are the Bajaj ULIP plans that help you provide life insurance cover:

Bajaj Life Insurance Policy	Entry Age	Maturity Age	Policy Term
Bajaj Invest Protect Goal	18 - 60 years	100 years	20 - 40 years
Bajaj Goal Assure II	0 - 60 years	75 years	5, 10, 15, 20 years
Bajaj Smart Wealth Goal III	0 - 60 years	99 years	10 - 60 years
Bajaj Future Gain II	1 - 60 years	70 years	10 - 30 years
Bajaj Goal-Based Saving II	0 to 60 years	75 years	10, 15, 20 years

Bajaj Savings Plans

Bajaj provides a variety of savings plans that help customers get their required life insurance cover and protect their loved ones.

Bajaj Life Insurance Policy	Entry Age	Maturity Age	Policy Term
Bajaj Life Assured Wealth Goal Platinum	1 - 60 years	77 years	5 - 17 years
Bajaj Life ACE	0 to 60 years	100 years	10 - (100 - entry age) years
Bajaj Flexi Income Goal - Income Benefit	0 to 55 years	99 years	PPT + 12 year - (99 - entry age) years
Bajaj Guaranteed Saving Goal	0 to 60 years	80 years	5 - 20 years
Bajaj Super Life Assure	0 - 55 years	70 years	12 - 20 years

Bajaj Investment Plans

Bajaj Investment & Savings Plans offer opportunities to grow your savings while ensuring financial security for your future goals. Below mentioned are the Bajaj Investment and Savings plans:

Bajaj Life Insurance Policy	Entry Age	Maturity Age	Policy Term
Bajaj Flexi Income Goal - Enhanced Benefit	0 - 55 years	80 years	12 - 25 years
Bajaj Invest Assure	0 - 50 years	70 years	15 - 40 years
Bajaj Elite Assure	0 - 55 years	70 years	15, 20, 25, 30 years
Bajaj My Wealth Goal	10 - 55 years	-	(100 - entry age) years
Bajaj Capital Goal Suraksha	18 - 55 years	65 years	10, 15 years

Bajaj Retirement Plans

Bajaj Retirement Plans help you build a secure financial nest for your retirement years, ensuring a comfortable and stress-free future. Below are the Bajaj Retirement plans:

Bajaj Life Insurance Policy	Entry Age	Maturity Age	Annuity Amount
Bajaj Guaranteed Pension Goal	30 to 85 years (immediate) 45 to 84 years (deferred)	—	Min: Yearly: Rs. 12,000 Half yearly: Rs. 6,000 Quarterly: Rs. 3,000 Monthly: Rs. 1,000 Max: No Limit
Bajaj Saral Pension	40 to 80 years	—	Min: Yearly: Rs. 12,000 Half yearly: Rs. 6,000 Quarterly: Rs. 3,000 Monthly: Rs. 1,000 Max: No Limit

Bajaj Child Insurance Plans

Bajaj Child Insurance Plans safeguard your child's future by providing financial support for their education and other life milestones. Below mentioned are the Bajaj Child Insurance plans:

Bajaj Life Insurance Policy	Entry Age	Maturity Age	Policy Term
Bajaj Life Assured Wealth Goal	0 to 65 years	99 years	5 - (99 - age at entry) years
Bajaj Young Assure	18 to 50 years	60 years	10, 15, 20 years
Bajaj Lifelong Assure	10 to 55 years	—	(100 - age at entry) years

How to Check Bajaj Life Insurance Policy Details?

You can check the Bajaj life insurance policy details in the following ways:

Log in to the Official Website
You can login to your policy account online and access the Bajaj policy details on the go.
Request a Callback
You can check your Bajaj policy details by requesting a callback from the company's customer support. Go to the official website and submit your name and phone number.
Call Customer Service
To get the latest information on the details of the Bajaj Life insurance policy, call the company's customer service helpline number, 1800-209-7272.
Visit the Nearest Branch
You can look up the nearest company branch to check your Bajaj policy details offline.

Health Management Services with Bajaj Life Insurance

Bajaj Life Insurance offers policyholders access to valuable health management services that can help them save up to ₹31,000 annually, based on estimated market costs. These services include 36 doctor insta-consultations per year (3 per month), 12 health coach consultations for diet and nutrition, and 12 emotional wellness consultations with psychologists, each valued at an average of ₹500 per session. Additionally, policyholders benefit from network discounts of 10% on medicines and lab test bookings throughout the year, with potential savings of ₹5,000 each on both. All services are provided through a wellness partner, and while many are complimentary, usage is subject to terms and conditions.

What Are The Exclusions In Bajaj Life Insurance?

Here are the exclusions in the Bajaj Life Insurance Policy:

Suicide: If the policyholder commits suicide within 12 months of buying the policy, his/her nominees will not be able to claim the Bajaj Life Insurance death benefit.

How To Buy Bajaj Life Insurance From Policybazaar?

Below are the steps to buy Bajaj Life Insurance:

Step 1: Visit the official Policybazaar website and the life insurance page.

Step 2: Select the type of insurance you want to buy and provide your name, contact details, gender, and date of birth.

Step 3: Enter your job type, yearly income, educational qualifications, and smoking/tobacco consumption habits.

Step 4: Choose Bajaj Life Insurance term plans from the list that appears.

Step 5: Pay using your preferred mode to complete the process.

*Note: You can use the term insurance calculator to calculate the term insurance premium amount of your chosen Bajaj Life Insurance plan.

How to Pay Bajaj Life Insurance Premium Online?

Paying your premium online is quick and hassle-free. Here's how you can do it:

Step 1: Visit the official premium payment page of Bajaj Life Insurance.

Step 2: Enter your policy number and date of birth or mobile number.

Step 3: Click on 'Submit’ to view your policy details and premium due.

Step 4: Choose your preferred payment method. Options include net banking, debit card, credit card, UPI, and digital wallets.

Step 5: Complete the payment process securely. Once done, you will receive an instant payment confirmation.

Steps Involved In the Claim Process Of Bajaj Life Insurance

The claim process of Bajaj Life Insurance follows the policyholder's death, after which the nominee/claimant can claim the death benefit. Below are the detailed steps that determine the processing of the claim:

Intimation of Claim
After the policyholder's death, the nominee can initiate the claim process by submitting the required documents to the head office/bank branches/nearest offices or by Email, together with proof of identification and the nominee's address proof. The death form can be found on the company's website and at branch offices, respectively, in both online and offline modes.
Document Submission
The nominee also needs to submit the necessary documents (as requested by the insurer) with the death claim form to verify the information provided to the insurance company regarding the policyholder's death.
Settlement of Claim
After receiving all required documents and forms, the claim starts being processed. Bajaj Life Insurance also checks and verifies the documents according to the requirements, makes a decision (subject to T&C), and communicates the same to the claimant/nominee.

How To Contact Bajaj Life Insurance Company?

To contact Bajaj Life Insurance, you have several options:

WhatsApp Service: You can get prompt policy-related services 24/7 by sending a 'HI' to 8806727272 on WhatsApp.
Call Center: You can call their customer service at the provided helpline number for direct assistance.
Mobile App: Download the Life Assist app from the Apple Store or Google Play for easy access to your policy details, premium payments, and more.
Branch Visit: Locate your nearest Bajaj Life Insurance branch for in-person assistance.

Make sure to have your policy number and personal details ready for a quicker response!

Note: Check all the best term insurance plan in India.

Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.

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What is Term Life Insurance

FAQs

Q: What are the term insurance plans of Bajaj Life Insurance?

Ans: Term insurance plans of Bajaj Life Insurance are pure-protection policies that offer a lump sum death benefit to your family/nominee in case of your demise during the policy term.
Q: Is death by natural calamities covered in Bajaj Life Insurance?

Ans: In Bajaj Life Insurance, coverage is offered for both basic death and accidental death, including when caused by natural calamities.
Q: Can I avail any tax exemption for the benefits received in Bajaj Life Insurance Plans?

Ans: Yes, as per Section 10(10D) of the Income Tax Act, 1961, the benefits received are exempted from your tax liability in Bajaj Life Insurance policy.
Q: If I lose my policy bond, will it affect my Bajaj Life Insurance claim settlement?

Ans: No, the claim can be processed with other documents as well.
Q: How do I cancel my Bajaj Life Insurance policy online?

Ans: Bajaj Life Insurance policy offers a free-look period during which you can cancel your policy, in case you do not find it adequate. You can check the free look period offered with your policy to check the duration within which you can cancel. If there is no claim, then the insurer will refund your premium on a pro-rata basis.
Q: What is a Bajaj Life Insurance ULIP Plan?

Ans: Bajaj Life Insurance ULIP (Unit Linked Insurance Plan) is a type of savings plan that combines investment and insurance benefits, allowing you to build wealth while being protected.
Q: How do Bajaj Life Insurance savings plans help?

Ans: You pay a regular premium for your Bajaj Life Insurance policy to receive life cover for a specified term. If something happens to you during the term, your family receives the death benefit.
Q: How do Bajaj Life Insurance plans work?

Ans: You pay a regular premium for your Bajaj Life Insurance policy to receive life cover for a specified term. If something happens to you during the term, your family receives the death benefit.
Q: Are there any discounts available for female policyholders in Bajaj Life Insurance Plans?

Ans: Yes, the policy offers attractive premium rates for female policyholders in the Bajaj Life Insurance Policy.
Q: How are policy benefits paid out in Bajaj Life Insurance Plans?

Ans: Depending on the chosen coverage option, the Bajaj Life Insurance policy benefits can be paid as death benefits, accidental death benefits, critical illness benefits, or a combination thereof.
Q: How can I check my Bajaj policy details?

Ans: To check your Bajaj life insurance policy details, visit their official website, log in to your customer account, and access your policy information, including documents and coverage. You can also contact the insurance advisor if you have any queries related to your Bajaj policy details.
Q: How can I surrender my Bajaj Life Insurance Policy online?

Ans: To surrender your Bajaj Life Insurance Policy online, visit the official website and follow the policy surrender process outlined on their platform. If you purchased the plan from Policybazaar, you can contact their insurance advisor or customer service anytime to get help with surrendering the policy.
Q: Can pregnant women be covered under Bajaj insurance policies?

Ans: Bajaj offers health insurance policies for pregnant women, which can help to cover the cost of pregnancy-related medical expenses, such as prenatal care, delivery, and postnatal care. This can help to reduce the financial burden on pregnant women and their families, and give them peace of mind knowing that they are financially protected in the event of a pregnancy complication.
Q: How can I renew my Bajaj policy?

Ans: You can renew your Bajaj Life Insurance policy using the Policybazaar website or app.
Q: How can I cancel my Bajaj policy?
Ans: To cancel your Bajaj policy, you need to fill out a policy cancellation form and submit it to Bajaj Allianz. You can find the form on their website or get it from a Bajaj branch office.
Once you have filled out the form, you need to sign it and attach copies of the following documents:
- Your policy document
- Your PAN card
- Your bank statement
You can then submit the completed form and documents to a Bajaj branch office or mail them to their corporate address.

Here is the shortest answer with a little explanation:

Fill out a policy cancellation form and submit it to Bajaj Allianz, with copies of your policy document, PAN card, and bank statement.
What are the reasons for claim rejection?
Ans: Here are some of the most common reasons for claim rejection:
- Undisclosed medical history: When you apply for an insurance policy, you are required to disclose your complete medical history. This includes any pre-existing conditions, surgeries, or illnesses. If you fail to disclose any important medical information, your claim may be rejected.
- Non-payment of premiums: It is important to pay your insurance premiums on time and in full. If you fail to pay a premium, your policy may lapse and your claim may be rejected.
- Exclusions: Every insurance policy has certain exclusions. This means that there are certain conditions or events that the policy does not cover. If you file a claim for something that is excluded from your policy, your claim will be rejected.
- Fraud: If the insurance company suspects that you are filing a fraudulent claim, they will investigate the claim thoroughly. If they find evidence of fraud, they will reject your claim.
Q: What are the riders available with Bajaj insurance policies?

Ans: Bajaj Life Insurance policies give option for adding multiple riders, such as Critical illness rider, Hospital cash rider, Waiver of premium rider, Accidental death benefit rider, etc.

Bajaj Life Insurance

Bajaj Life Insurance

Bajaj Term Insurance

Why Should You Buy Bajaj Life Insurance Plans?

What Are The Various Life Insurance Policies Offered By Bajaj Life Insurance?

What Are The Bajaj Life Insurance Plans?

Bajaj Term Insurance Plans

Bajaj ULIP Plans

Bajaj Savings Plans

Bajaj Investment Plans

Bajaj Retirement Plans

Bajaj Child Insurance Plans

How to Check Bajaj Life Insurance Policy Details?

Health Management Services with Bajaj Life Insurance

What Are The Exclusions In Bajaj Life Insurance?

How To Buy Bajaj Life Insurance From Policybazaar?

How to Pay Bajaj Life Insurance Premium Online?

Steps Involved In the Claim Process Of Bajaj Life Insurance

How To Contact Bajaj Life Insurance Company?

People also search for

FAQs

Q: What are the term insurance plans of Bajaj Life Insurance?

Q: Is death by natural calamities covered in Bajaj Life Insurance?

Q: Can I avail any tax exemption for the benefits received in Bajaj Life Insurance Plans?

Q: If I lose my policy bond, will it affect my Bajaj Life Insurance claim settlement?

Q: How do I cancel my Bajaj Life Insurance policy online?

Q: What is a Bajaj Life Insurance ULIP Plan?

Q: How do Bajaj Life Insurance savings plans help?

Q: How do Bajaj Life Insurance plans work?

Q: Are there any discounts available for female policyholders in Bajaj Life Insurance Plans?

Q: How are policy benefits paid out in Bajaj Life Insurance Plans?

Q: How can I check my Bajaj policy details?

Q: How can I surrender my Bajaj Life Insurance Policy online?

Q: Can pregnant women be covered under Bajaj insurance policies?

Q: How can I renew my Bajaj policy?

Q: How can I cancel my Bajaj policy?

What are the reasons for claim rejection?

Q: What are the riders available with Bajaj insurance policies?

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