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Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance is one of the leading insurance companies of India that offers a comprehensive range of insurance products. The plans offered by Bajaj Allianz Life Insurance are designed to provide a protective shield for your family, ensuring their future is secure and safeguarded against life’s uncertainties.

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About Bajaj Allianz Life Insurance

Bajaj Allianz Limited is a partnership between Bajaj Finserv Limited and Allianz SE. It's a renowned name in the insurance industry, providing a variety of life and general insurance products along with outstanding service and post-sales assistance. Bajaj Allianz Life Insurance offers a broad range of affordable insurance solutions tailored to individual requirements.

Let’s learn more about Bajaj Allianz Life Insurance and the plans offered by the company here.

Why Should You Buy Bajaj Allianz Life Insurance Plans?

Below are the reasons why you should consider buying Bajaj Allianz Life Insurance plans:

  • Financial Protection: Bajaj Allianz Life Insurance offers pure life cover to protect you and your loved ones in case of unexpected events like illness, disability, or death.

  • Return Of Premiums: The Bajaj Allianz Life Insurance plan also provides the return of premiums in situations such as policy maturity, terminal illness diagnosis, or as a death benefit.

  • Flexible Death Benefit Payout Mode: You can choose to receive the maturity benefit of your Bajaj Allianz Life Insurance policy as a lump sum payment or in installments, depending on what suits you best.

  • Tax Benefits: Bajaj Allianz Life Insurance provides tax benefits which helps you in saving up to Rs. 1.5 Lakhs per year.

  • Affordable Premiums: Affordable Premiums: Bajaj Allianz Life Insurance offers comprehensive plans, such as term life insurance plan, at very affordable premium rates, so that you can financially secure your family without any hassle.

  • High Claim Settlement Ratio (CSR): Bajaj Allianz Life Insurance has one of the highest Claim Settlement Ratios among all insurers of the country. This implies that the insurer was able to settle a very high number of claims in that year.

  • Tax Benefits: Choosing Bajaj Allianz Life Insurance plans can also provide you with tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961. Therefore, you can not only secure your financial future but also enjoy the tax benefits, making Bajaj Allianz Life Insurance a smart choice for your insurance needs.

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

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

  • Term Insurance Plans

  • Investment and Savings Plans

  • ULIP Plans

  • Retirement Plans

  • Child Plans

What Are The Bajaj Allianz Life Insurance Plans?

Below mentioned are the Bajaj Allianz Life Insurance Plans:

Bajaj Allianz Term Insurance Plans

Bajaj Allianz Term Insurance Plan offers financial security and protection for your loved ones through affordable premiums and customizable coverage options. Below mentioned are the Bajaj Allianz Term Insurance plans:

Bajaj Allianz Life Insurance Plan Entry Age Maturity Age Sum Assured
Bajaj Allianz Diabetic Term Plan Sub 8 HbA1c 30 to 55 years 35 to 75 years Rs. 25 Lakhs to 1 Crore
Bajaj Allianz Smart Protection Goal 18 to 65 years 99 years Rs. 50 Lakhs to No Limit
Bajaj Allianz eTouch 18 to 55 years 28 to 99 years Rs. 50 Lakhs to 10 Crores
Bajaj Allianz iSecure 18 to 65 years 28 to 85 years Rs. 25 to 50 Lakhs
Bajaj Allianz Saral Jeevan Bima 18 to 65 years 70 years Rs. 5 to 25 Lakhs
Bajaj Allianz LifeStyle Secure 18 to 50 years 60 years Rs. 3 to 15 Lakhs
Bajaj Allianz Life Secure 25 to 55 years 100 years minus Entry Age Rs. 20 Lakhs to No Limit
  1. Bajaj Allianz Diabetic Term Plan Sub 8 HbA1c

    • Provides financial stability to your loved ones.

    • Choose from various premium payment frequencies.

    • 'Keep fit benefit' rewards you with premium discounts after completing a policy year.

    • Health management services offered, including medical consultations and webinars to help manage diabetes and health.

    • Low premium rates for non-tobacco users.

    • Enjoy tax benefits as per the Income Tax Act, 1961.

  2. Bajaj Allianz Smart Protection Goal

    • This plan provides a death benefit, which is the amount given to your dependents if you pass away.

    • The policy offers basic coverage and additional rider benefits, allowing you to customize the plan according to your specific needs.

    • The policy is available at competitive premium rates and includes features that meet your insurance requirements.

    • If you select the Critical Illness cover, the policy offers protection against various minor and major critical ailments.

    • This term insurance provides tax savings under sections 80C and 80D.

  3. Bajaj Allianz eTouch

    • Bajaj Allianz Life eTouch plan offers 3 plan options: Life Shield, Life Shield Plus, and Life Shield ROP.

    • You can choose to pay premiums throughout the policy duration, for a limited period, or until you turn 60.

    • At policy maturity, you will receive 105% or 120% of the total premiums paid.

    • Additional payout is given in case of accidental death.

    • You can choose to receive the insurance benefit as a lump sum or a combination of lump sum and monthly income.

    • Early exit is possible, and you will receive the premiums paid.

  4. Bajaj Allianz iSecure

    • You get a cost-effective level term cover, particularly for larger sum assured.

    • You enjoy special premium rates as a non-smoker with a healthy lifestyle, if applicable.

    • You get extra benefit from attractive rebates for selecting a higher sum assured.

    • There is the flexibility to choose your policy term and alter premium payment frequency.

    • You can add your spouse to the policy and can secure them for the future.

    • You can also opt for installment payments to meet recurring expenses for your loved ones.

    • You can enhance your coverage with additional rider benefits.

  5. Bajaj Allianz Saral Jeevan Bima

    • The policy covers accidental death only after a waiting period of 45 days from the start date.

    • If the policyholder dies for any reason other than an accident during the waiting period, only the premiums received (excluding taxes) will be paid, and the sum assured will not be given.

    • Lump sum death benefit for accidents during or after the waiting period.

    • Policy lapses if premium is unpaid after the grace period, except for policy cancellation value.

    • Policy cancellation value applicable for certain conditions and timings.

    • Flexibility to change premium payment frequency on policy anniversaries.

  6.  Bajaj Allianz LifeStyle Secure

    • Family Security: Provides regular income for your family's well-being.

    • Accelerated Terminal Illness (TI) Cover: Includes TI risk cover as standard.

    • Easy Risk Cover: Simple procedure to obtain risk cover.

    • No Medical Tests: No need for medical examinations.

    • Monthly Installments: Plan benefits paid in monthly installments.

    • Value for Money: High Sum Assured Rebate offers more value.

    • Discounts for Women: Attractive rates available for female policyholders.

  7. Bajaj Allianz Life Secure

    • Coverage Choices: Select from three coverage options:

      • Death Benefit

      • Death Benefit plus Accidental Death Benefit

      • Death Benefit or Accelerated Critical Illness plus Waiver of Premium Benefit

    • Life Cover to Age 100: Coverage extends up to age 100.

    • Premium Payment Terms: Choose from 4 Premium Payment Terms: 5, 7, 10, or 15 years.

    • Value for Money: Benefit from High Sum Assured Rebate for added value.

    • Discounts for Women: Attractive premium rates offered to female policyholders.

*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 Allianz Life Insurance.

Bajaj Allianz ULIP Plans

Bajaj Allianz ULIP Plans provide a combination of investment and insurance, allowing you to grow your wealth while securing your family's future. Below mentioned are the Bajaj Allianz ULIP plans:

Bajaj Allianz Life Insurance Plan Entry Age Maturity Age Sum Assured
Bajaj Allianz Magnum Fortune Plus II 0 - 65 years 75 years For 0-30 years: 40 times For 31-40 years: 30 times For 41-45 years: 15 times For 46-65 years: 10 times
Bajaj Allianz Invest Protect Goal 18 - 60 years 100 years 7 Times of Annualized Premium to As per Underwriting Policy, approved by Board 
Bajaj Allianz Goal Assure 0 - 60 years 75 years Minimum of 10 Times Annualized Premium
Smart Wealth Goal 0 - 60 years 99 years 1.25 x of top up premium to 10 x of top up premium
Bajaj Allianz Future Gain 1 - 60 years 70 years Age less than 45 years: 10 x annualized premium Age more than or equal to 45 years: 7 x annualized premium
Bajaj Allianz Fortune Gain 1 - 63 years 70 years Minimum of 1.25 x Single Premium
Bajaj Allianz Future Wealth Gain 1 - 60 years 75 years 7 x Annualized Premium to 0-25 years: 40 times of annual premium 26-35 years: 30 times of annual premium years: 20 times of annual premium 41-44 years: 15 times of annual premium 45 years & Above 10: times of annual premium
Bajaj Allianz LongLife Goal 0 to 18 years 65 years 10 times Annualized Premium
Bajaj Allianz Goal Based Saving 0 to 60 years 75 years 1.25 times Top-up Premium
Bajaj Allianz Principal Gain 7 to 60 years 70 years 10 times of annual premium
  1. Bajaj Allianz Magnum Fortune Plus ULIP Plan 

    • Life insurance cover: Protect your loved ones financially throughout the policy term.

    • Wide range of funds and portfolio strategy: Choose from various funds and strategies to meet your savings goals.

    • Loyalty additions: Your savings get a boost with fund additions from the 10th policy year.

    • Maturity booster: Enjoy extra maturity value as an existing customer and for selecting auto pay.

    • Return of mortality charges: Get back your mortality charges by staying invested until maturity.

    • Choice of multiple premium bands: Select from three premium bands to suit your savings needs.

    • Liquidity: Easily access funds through partial withdrawals after 5 years.

    • Tax benefits: Benefit from tax advantages on premiums paid and benefits received, as per prevailing tax laws.

  2. Bajaj Allianz Invest Protect Goal ULIP Plan

    • Loyalty Advantage: Reward for regular premium payments with extra units at specific policy years.

    • Return of Premium Allocation Charge: Charges added back after 10th policy year for regular/limited premiums.

    • Return of Mortality Charge: Mortality charges returned during the policy term.

    • Fund Maintenance Booster (FMB): FMB added to Regular Premium Fund Value if Total Fund Value falls below one Annualized Premium from 4th policy year.

    • Death Benefit: Paid upon policyholder's death - Sum Assured, Total Fund Value, or Guaranteed Benefit.

    • Maturity Benefit: Paid if policyholder survives until maturity date - Total Fund Value at that time.

  3. Bajaj Allianz Goal Assure ULIP Plan

    • Death Benefit: Lump sum payout upon policyholder's death - Higher of Sum Assured% or Fund Value.

    • Return of Mortality Charge (ROMC): Total mortality charges deducted added back at policy term end.

    • Fund Booster: Added to Regular Premium Fund Value at maturity, subject to all premiums paid.

    • Loyalty Additions: From 6th year onwards, Loyalty Additions to Regular Premium Fund Value.

    • Surrender Benefit: Option to surrender policy anytime.

    • Portfolio Strategies: The plan offers four unique portfolio strategies that you can choose from when starting your policy:

      • Investor Selectable Portfolio Strategy

      • Wheel of Life Portfolio Strategy

      • Trigger Based Portfolio Strategy

      • Auto Transfer Portfolio Strategy

  4. Bajaj Allianz Smart Wealth Goal ULIP Plan

    • Loyalty Benefits with Periodical Money Backs:

      • Fund Boosters

      • Return of Allocation Charge (ROAC)

    • Return of Mortality Charge (ROMC)

    • Option to receive Maturity Benefit or Death Benefit in installments with Return Enhancer

    • Choice of five (5) investment portfolio strategies

    • Choice of thirteen (13) Funds

    • Option to reduce the Premium

    • Option to increase Premium paying term

    • Tax benefits may apply as per prevailing tax laws

  5. Bajaj Allianz Future Gain ULIP Plan

    • Max premium allocation: Maximize investment growth with a significant portion of payment.

    • 2 investment strategies: Choose from 2 approaches with unique risks.

    • 7 funds to invest: Pick from 7 funds with various objectives and risks.

    • Partial withdrawals allowed: Withdraw from funds for emergencies.

    • Top-up premiums: Add extra premiums for more savings and coverage.

  6. Bajaj Allianz Fortune Gain ULIP Plan

    • Up to 99.5% Premium allocation for Single Premium of 10 lacs and above

    • Loyalty Additions of 3% of Single Premium based on chosen term

    • Choice of seven (7) funds

    • Option for partial withdrawals

    • Top-up premiums up to Single Premium value

    • Decrease Sum Assured option

    • Systematic switching option

    • Death and maturity benefit in installments

  7. Bajaj Allianz Future Wealth Gain ULIP Plan

    • High life insurance cover

    • Accelerated Cancer Cover with Income Benefit (in "Wealth Plus Care" variant)

    • Choice of 2 investment portfolio strategies

    • Loyalty Additions every 5 years from 10th policy year

    • Fund Booster for higher maturity returns

  8. Bajaj Allianz LongLife Goal Plan

    • Choose between 2 plans: LongLife Goal with or without Premium Waiver

    • Select from 4 investment portfolios

    • Periodical return of Premium Waiver charges

    • Pick from 13 funds

    • Option to lower your premium

    • Enjoy whole life insurance coverage

    • Income throughout your retired life until age 99 with a return enhancer

    • Periodic return of life cover charges

    • Loyalty additions every year from the 5th policy year until the 25th policy year

  9. Bajaj Allianz Goal Based Saving

    • Return of Mortality Charges at Maturity (ROMC): For Regular/Limited Premium policies.

    • Settlement Option with Return Enhancer: Choose this option for added benefits.

    • Partial Withdrawals: Access funds through partial withdrawals.

    • Top-Up Premium: Option to pay additional premiums.

    • Decrease in Sum Assured: Available for Single Premium policies.

    • Premium Reduction: Choose to reduce your premium.

    • Fund Choices: Select from 8 different funds.

    • Payment Options: Choose between regular, limited, and single premium payments.

    • Premium Payment Term Flexibility: Option to change your premium payment term.

  10. Bajaj Allianz Principal Gain

    • Triple Benefit: Combines principal protection, potential for high returns, and life cover.

    • Guaranteed Loyalty Additions: Assured loyalty additions at maturity.

    • Flexible Options: Choose from different policy terms and premium payment terms.

    • Installment Benefits: Opt for installment payments for death and maturity benefits using the Settlement Option.

*Note: In case you have any doubt regarding your term plan, you can contact the insurance advisor to solve your queries.

Bajaj Allianz Investment & Savings Plans

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

Bajaj Allianz Life Insurance Plan Entry Age Maturity Age Sum Assured
Bajaj Allianz Flexi Income Goal - Enhanced Benefit 0 to 55 years 80 years Rs. 1,58,400 to Rs. 2,01,600
Bajaj Allianz Invest Assure 0 to 50 years 70 years Rs. 1 Lakh to No Limit
Bajaj Allianz Elite Assure 0 to 55 years 70 years 10 x of Annualized Premium
Bajaj Allianz My Wealth Goal  10 to 55 years
Bajaj Allianz Capital Assure Goal 8 to 60 years 70 years
Bajaj Allianz Capital Goal Suraksha 18 to 55 years 65 years
Bajaj Allianz Flexi Income Goal - Income Benefit 0 to 18 years 10 to 99 years Rs. 1.5 Lakhs to No Limit
Bajaj Allianz Guaranteed Saving Goal 8 to 60 years 18 to 70 years Minimum 1.5 x Single Premium
In case of Enhanced Sum Assured, 10 x Single Premium
Bajaj Allianz POS Goal Suraksha 18 to 55 years 28 to 65 years Rs. 30,000 to Rs. 25 Lakhs
Bajaj Allianz Guaranteed Income Goal 6 to 60 years 18 to 72 years Rs. 1 Lakh to Board Approved Underwriting Policy
Bajaj Allianz Cash Assure 0 to 54 years 70 years Rs. 1 Lakh to No Limit
Bajaj Allianz Super Life Assure Min: Super: 18 years Life: 0 years
Max:  Super: 50 years Life: 55 years
70 years Min: Super Variant: Rs. 1,00,000 Life Variant: Rs. 50,000
Max: No Limit
Bajaj Allianz Income Assure 0 to 50 years 74 years Min: 144 * Minimum GMI chosen
Max:
No Limit
Bajaj Allianz Save Assure 1 to 60 years 75 years Rs. 1 Lakh to No Limit
  1. Bajaj Allianz Flexi Income Goal - Enhanced Benefit Investment Plan

    • 250% of Sum Assured as Guaranteed Benefit

    • Survival Benefits:

      • 50% of Sum Assured at end of PPT as Lump sum

      • 100% of Sum Assured as Guaranteed Monthly Income (GMI) from end of PPT till Policy maturity

    • At Maturity, 100% of Sum Assured as Lump sum plus Compound Reversionary Bonus (CRB) & Terminal Bonus

    • Choose to receive or accumulate Survival Benefits with Investment Return

    • Equity exposure up to 40%

    • Option for Joint Life Cover

  2. Bajaj Allianz Invest Assure Investment Plan

    • Choose 1.25 times or 2 times Sum Assured as life cover

    • Compound reversionary bonus and terminal bonus included

    • Limited premium payment term

    • High sum assured rebate (HSAR) for better value

    • Option to enhance coverage with rider benefits

    • Option to receive death benefit as monthly installments

  3. Bajaj Allianz Elite Assure Investment Plan

    • Ideal balance of life cover and excellent ROI

    • Accrued Guaranteed Loyalty Additions up to 315% of Guaranteed Maturity Benefit, based on premium payment term

    • Choice of 4 policy terms: 15, 20, 25, and 30 years

    • Option for regular and limited premium payment terms

    • Option to enhance coverage with rider benefits

  4. Bajaj Allianz My Wealth Goal 

    • Lifelong Coverage: Continuous insurance protection for life.

    • Lifelong Income: Steady income throughout retirement.

    • Multiple Portfolio Strategies/Fund Choices: Diverse investment options.

    • Tax Benefit under ITA 1961: Tax advantages for enhanced returns.

  5. Bajaj Allianz Capital Assure Goal

    • Guaranteed Returns along with Life Insurance Coverage

    • Easy Application Process

    • Potential for Improved Returns

    • Choice of Limited Premium Payment Term

    • Eligibility for Tax Benefits under ITA 1961

  6. Bajaj Allianz Capital Goal Suraksha

    • Guaranteed Returns: This policy of Bajaj Allianz Life Insurance offers fixed returns for financial security.

    • Life Cover: Includes life insurance for your loved ones.

    • Simple Application: Hassle-free application process.

    • Potential for Better Returns: Opportunity for higher returns.

    • Limited Premium Term: Choose a term that suits you.

    • Tax Benefits under ITA 1961: Eligible for tax benefits under the Income Tax Act, 1961.

  7. Bajaj Allianz Flexi Income Goal - Income Benefit 

    • Guaranteed Benefit: You're guaranteed to receive 150% of the Sum Assured, inclusive of any Cash Bonus and Terminal Bonus (if applicable) in this plan of Bajaj Allianz Life Insurance.

    • Survival Benefits: Enjoy benefits while you're alive:

      • Cash Bonus starts from the first month.

      • Guaranteed Monthly Income (GMI), equal to 100% of the Sum Assured, from the Premium Payment Term (PPT) end until policy maturity.

      • At maturity, receive a 50% Maturity Booster of the Sum Assured.

    • Flexibility: Manage Survival Benefits as you prefer:

      • Choose to accumulate them for potential investment returns.

      • Add a Joint Life Cover for extra protection for your spouse or partner.

  8. Bajaj Allianz Guaranteed Savings Goal Savings Plan

    • Guaranteed Maturity Benefit: Receive a guaranteed maturity benefit, which includes Guaranteed Enhancer in this plan of Bajaj Allianz Life Insurance.

    • Choice of two Sum Assured options: Choose from two different Sum Assured options, giving you flexibility in selecting the coverage amount.

    • Option to choose from multiple Policy Terms: Select from various policy terms, allowing you to tailor the policy duration according to your needs.

    • Higher Maturity Benefit for female lives: Female policyholders will receive a higher maturity benefit, providing them with added advantages in the policy.

  9. Bajaj Allianz POS Goal Suraksha Savings Plan

    • Guaranteed Maturity Benefit: Assured payout at the end of the policy term of this plan by Bajaj Allianz Life Insurance.

    • Limited premium payment term: You can complete premium payments within a specific period.

    • Option to take a policy loan: You have the choice to take a loan against the policy if needed.

    • Offers Guaranteed Additions at maturity: Additional benefits are guaranteed to be provided upon maturity.

    • Option to alter premium payment mode: You can change the mode of premium payment as per your preference.

  10. Bajaj Allianz Guaranteed Income Goal Savings Plan

    • Option to extend your Life Cover beyond your Policy Term: You have the choice to continue your life coverage even after the policy term expires, providing extended protection.

    • Choice of 5 Riders to Enhance Cover: Select from five different riders to add extra coverage and enhance your policy benefits.

    • Multiple Policy Terms & Premium Payment Terms to choose from: You can choose from a variety of policy terms and premium payment terms, allowing you to customize the policy to suit your needs and preferences.

    • Guaranteed Increasing Income under Income Benefit: Assured and gradually increasing income payments will be provided under the Income Benefit option.

    • Choice of 2 Variants depending on your Life Goal: You can choose between two variants - Income Benefit and Lump Sum Benefit, depending on your life goals and preferences.

  11. Bajaj Allianz Cash Assure

    • Regular Money Backs: Receive money back at regular intervals during the policy term.

    • Guaranteed Money Back: Get up to 150% of the Sum Assured, based on your chosen policy term.

    • Flexible Policy Terms: Choose from 4 policy terms: 16, 20, 24, or 28 years.

    • Shorter Premium Payment Term: Enjoy the benefit of a shorter premium payment term.

    • Value for Money: Receive high sum assured rebate, maximizing the value of your policy.

    • Special Rates for Women: Female policyholders can benefit from special rates.

  12. Bajaj Allianz Super Life Assure

    • Financial Milestones: Achieve your financial goals with flexible policy term options at Bajaj Allianz Life Insurance.

    • Plan Variants: Choose from Super and Life variants for family security.

    • Income Benefit: Provides monthly income in case of unfortunate death.

    • Yearly Bonuses: Yearly bonuses enhance your savings.

    • Rider Benefits: Customize your coverage with optional rider benefits.

    • Special Rates for Women: Exclusive rates available for female policyholders.

  13. Bajaj Allianz Income Assure

    • Life Cover Options: Choose between Income and Assure variants, and also get guaranteed monthly income.

    • Policy Term Flexibility: Select from 4 policy terms to align with your financial goals.

    • Potential Bonuses: May offer bonuses to boost savings.

    • Rider Benefits: Customize your coverage with additional riders.

    • Discounts for Women: Lower premium rates available for female policyholders.

  14. Bajaj Allianz Save Assure

    • Guaranteed Benefits: You'll get guaranteed maturity and death benefits of 115% of the sum assured.

    • Policy Term Options: Choose from 15 and 17-year policy terms.

    • Premium-Free Final 5 Years: No premiums in the last 5 policy years.

    • Value-Added: High sum assured rebate for more value.

    • Flexible Payouts: Opt for monthly installments over 5 or 10 years.

    • Rider Benefits: Enhance your coverage with optional riders.

Bajaj Allianz Retirement Plans

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

Bajaj Allianz Life Insurance Plan Entry Age Maturity Age Annuity Amount
Bajaj Allianz 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 Allianz Retire Rich 30 to 73 years 80 years
Bajaj Allianz 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
  1. Bajaj Allianz Guaranteed Pension Goal Retirement Plan

    • Guaranteed lifetime income with flexible payout intervals.

    • Various annuity options to match your lifestyle goals.

    • Choose when your annuity starts.

    • Secure your family's financial future with joint life annuity options.

    • Option to receive the purchase price back upon death or as a survival benefit.

  2. Bajaj Allianz Retire Rich Retirement Plan

    • Guaranteed Vesting Benefit: 101% of total premiums paid

    • Guaranteed Death Benefit: 105% of total premiums paid

    • Option for regular, limited, or single premium payment

    • Flexibility to change premium payment term

    • Option for top-up premium

    • Choice to receive death benefit in installments (Settlement option)

  3. Bajaj Allianz Saral Pension Retirement Plan

    • Lifelong guaranteed regular income

    • Flexibility in annuity payments: Monthly, quarterly, half-yearly, or annually

    • Legacy protection: Purchase Price (ROP) paid to nominee on death

    • Family-oriented option: Joint life option for regular income for both lives

    • Easy liquidity through loan access

    • Additional benefit: Liquidity on diagnosis of Critical Illness

Bajaj Allianz Child Insurance Plans

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

Bajaj Allianz Life Insurance Plan Entry Age Maturity Age Sum Assured
Bajaj Allianz LongLife Goal 0 to 18 years 65 years 10 times Annualized Premium
Bajaj Allianz Young Assure 18 to 50 years 60 years 10 times Annualized Premium
Bajaj Allianz Lifelong Assure 10 to 55 years Rs. 1 Lakh to No Limit
  1. Bajaj Allianz LongLife Goal Plan

    • Choose between 2 plans: LongLife Goal with or without Premium Waiver

    • Select from 4 investment portfolios

    • Periodical return of Premium Waiver charges

    • Pick from 13 funds

    • Option to lower your premium

    • Enjoy whole life insurance coverage

    • Income throughout your retired life until age 99 with a return enhancer

    • Periodic return of life cover charges

    • Loyalty additions every year from the 5th policy year until the 25th policy year

  2. Bajaj Allianz Young Assure Child Insurance Plan

    • Flexible premium payment and policy term choices to meet financial needs for events like child's education or marriage.

    • Guaranteed Maturity Benefit (GMB), Guaranteed Additions (GA), and bonuses for attractive returns.

    • 3 Cash Installment Options for future financial needs.

    • Comprehensive coverage for death or accidental disability.

    • Ability to boost coverage with rider benefits.

    • Special rates available for female policyholders.

  3. Bajaj Allianz Life long Assure Child Insurance Plan

    • Cash Bonus (if any) starting from 6th year

    • Guaranteed Cash Back starting from the end of Premium Payment Term

    • Life cover up to age 100

    • Guaranteed Death Benefit up to 300% of Sum Assured based on chosen PPT

    • Option for death benefit in monthly installments

    • Choice of 3 Premium Payment Terms: 10, 15, and 20 years

    • High sum assured rebate for more value

    • Premium rebate for female policyholders

    • Option to enhance coverage with rider benefits

What Is The Claim Settlement Process Of Bajaj Allianz Life Insurance?

Here is the claim settlement process of Bajaj Allianz Life Insurance:

  • Claim Intimation: To initiate the life insurance claim process of Bajaj Allianz Life Insurance after the death of the life assured, the nominee should submit the Death Claim Form to the head office, bank branches, nearest offices, or via Email. Additionally, you need to attach an attested proof of identification and address proof of the nominee along with the claim form.

  • Document Submission: For document submission, the nominee/claimant must provide documents, like the Original documents of the policy, Copy of the original death certificate, Application Form for Death Claim (Form C), Canceled Cheque with NEFT details, Nominee/claimant's ID and address proofs, etc. to Bajaj Allianz Life Insurance.

  • Claim Settlement: After receiving all the necessary documents and forms of the Bajaj Allianz Life Insurance policy, the company initiates the claim processing. They verify the documents as per their requirements and then make a decision (subject to terms and conditions). The company communicates the claim status to the nominee/claimant accordingly.

What Are The Exclusions In Bajaj Allianz Life Insurance?

Here are the exclusions in the Bajaj Allianz Life Insurance:

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

How To Buy Bajaj Allianz Life Insurance From Policybazaar?

Below are the steps to buy Bajaj Allianz Life Insurance:

Step 1: Visit the official Policybazaar website and go to the Term Insurance section.

Step 2: Provide your name, contact details, gender, and date of birth.

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

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

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

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

Steps Involved In Claim Process Of Bajaj Allianz Life Insurance

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

  1. 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 a proof of identification and the address proof of the nominee. The death form can be found in both online and offline mode from the company’s website and branch offices respectively.

  2. Document Submission

    The nominee also needs to submit the necessary documents along (as requested by the insurer) with the death claim form to verify the information provided to the insurance company regarding the death of the policyholder.

  3. Settlement of Claim

    After receiving all of the required documents and forms, the claim starts getting processed. Bajaj Allianz Life Insurance also checks and verifies the documents in accordance with the requirements, makes a decision (subject to T&C), and communicates the same to the claimant/nominee.

FAQs

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

    Ans: Term insurance plans of Bajaj Allianz 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 Allianz Life Insurance?

    Ans: In Bajaj Allianz 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 Allianz 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 Allianz Life Insurance Plans.
  • Q: If I lose my policy bond, will it affect my Bajaj Allianz Life Insurance claim settlement?

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

    Ans: Bajaj Allianz Life Insurance offers a free-look period of 15 days within which you can cancel your policy, in case you do not find it adequate. If there is no claim, then the insurer will refund your premium on a pro-rata basis.
  • Q: What is a Bajaj Allianz Life Insurance ULIP Plan?

    Ans: Bajaj Allianz 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 Allianz Life Insurance savings plans help?

    Ans: Bajaj Allianz Life Insurance Savings plans act as a source of wealth creation, securing your financial future, and providing a mode of saving money for important milestones like buying a house or funding higher education.
  • Q: How do Bajaj Allianz Life Insurance plans work?

    Ans: You pay a regular premium for your Bajaj Allianz 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 Allianz Life Insurance Plans?

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

    Ans: Depending on the chosen coverage option, the Bajaj Allianz 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 Allianz policy details?

    Ans: To check your Bajaj Allianz 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 Allianz Life Insurance policy.
  • Q: How can I surrender my Bajaj Allianz Life Insurance Policy online?

    Ans: To surrender your Bajaj Allianz 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 Allianz insurance policies?

    Ans: Bajaj Allianz 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 Allianz policy?

    Ans: You can renew your Bajaj Allianz Life Insurance policy using the Policybazaar website or app.
  • Q: How can I cancel my Bajaj Allianz policy?

    Ans: To cancel your Bajaj Allianz 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 Allianz 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 Allianz 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 Allianz insurance policies?

    Ans: Bajaj Allianz 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.


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Bajaj Allianz Life Insurance Reviews & Ratings

4.3 / 5 (Based on 81 Reviews)
(Showing Newest 10 reviews)
Isha
Delhi, September 02, 2021
Average Benefits
I have taken term insurance policy of Bajaj Allianz from policy bazaar and it was referred by one of my relative. I am paying monthly premium of Rs.3000 through online as well have enabled auto debit option. The benefits are average. I need to pay the premium till MAY 2022 and it was taken in the year of 2016. Happy to be their customer.
Niharika
Barapalli, April 05, 2021
Claim is easy
It is very easy to file for a claim for the term plan of bajaj Allianz. I bought this plan from the website of the policybazaar. The assistance given by the team of policybazaar and bajaj Allianz is good. They helped my friend in getting claim and that’s why I bought this plan from them. Thanks team.
Dinesh
Qadian, March 30, 2021
Get online updates
For my term insurance plan which I bought of bajaj Allianz, I got various updates at one place. I got to know about my plans and details regarding the same. It is convenient to use and understand. Thank you so much policybazaar.
Bhanu
Bagha Purana, March 30, 2021
Claim is easy
It is very easy to file for a claim for the term plan of bajaj Allianz. I bought this plan from the website of the policybazaar. The assistance given by the team of policybazaar and bajaj Allianz is good. They helped my friend in getting claim and that’s why I bought this plan from them. Thanks team.
Deepanshu
Asifabad, March 23, 2021
Get online updates
For my term insurance plan which I bought of bajaj Allianz, I got various updates at one place. I got to know about my plans and details regarding the same. It is convenient to use and understand. Thank you so much policybazaar.
Anushka
Mysore, March 17, 2021
Pay outs received
I have taken the life insurance policy from bajaj Allianz. And it has the best pay out options which can be received in the form of instalments as per your convenience. It has become easy for me and for my family.
Ratan
Parsa Bazar, March 09, 2021
Coverage of your family
The life insurance plan gives the coverage to me and my family. I have took this plan by taking the suggestion of my friend. As he suggested me to buy a bajaj Allianz life insurance plan. I visited the website of policybazaar and got a call from them and bought the product. Thanks team.
Nakul
Abu Road, March 08, 2021
Low premium prices
I have taken a bajaj life insurance plan from the website of the policybazaar. This plan is really nice and have given me great benefits. My life has been sorted when I took this plan. Thank you bajaj Allianz and policybazaar.
Mayank
Bavla, March 02, 2021
Protective layer
I have got the child insurance plan from the website of the policybazaar. It has been a protective layer for my child. I got this plan of bajaj Allianz. It has been a wonderful thing for me and for my child. Great work team.
Viram
Angara, February 19, 2021
Great plans at one place
I recently bought a child insurance plan of bajaj Allianz child plans and I checked this plan into the website of the policybazaar. I found this plan much innovative and into my budget. It is easy to secure my son’s future. Thanks.
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