Bajaj Allianz is one of the leading companies in the insurance business. It offers a variety of insurance products that cater to the needs of various sections of society. The company provides state-of-art technology for its customers to pay their policy premiums at ease. The insurer provides various online payment options for its customers, such as credit card payment, debit card payment, e-wallets, net banking, unified payments interface, and EMI payment.Read more
The insurer also provides an auto-pay option for its customers for making Bajaj Allianz Online Payment.
Bajaj Allianz online payment provides a wide range of options to make payments from anywhere and anytime. Some of the methods of online premium payment are as follows.
Unregistered customers can quickly pay their premium dues by opting for the Quick pay option on the insurer's website. In this option, the customer can either enter the registered mobile number or enter the policy details and the date of birth. If the customer chooses to proceed using the registered mobile number, the insurer will send an OTP to authenticate the number. The customer can proceed to pay the premium by successfully verifying his/her mobile number.
The customer need not worry about due dates and reminders from the insurer with the availability of the auto-pay option. It is an option where the policyholder gives standing instructions from his/her bank to automatically pay the insurer on a chosen date which helps in a timely payment and renewal of the policy premium. The customer can enable the auto-pay option by clicking the register online mandate tab on the insurer's website; a drop-down menu is displayed. The right bank is chosen. The policyholder is prompted to enter the bank account details for verification purposes upon which the auto-pay option is enabled.
The policyholder with a debit card can easily make premium payments online. The customer is prompted to enter mandatory details such as policy number, date of birth of the life assured, email address, and mobile number for verification purpose, upon which the customer is lead to the checkout process where he/she is prompted with the debit card details and a three-digit CVV number, on verifying the card details the payment is processed and the premium is paid.
Bajaj Allianz online payments are also made using e-wallets; the customers can make payments using third-party apps that the insurer supports. The policyholder needs to select the e-wallet tab on the insurer's website and click pay now; the app will prompt the policyholder to enter the mandatory details such as policy number, date of birth of the life assured, email address, and mobile number for authentication. The next step is to choose the e-wallet from the list, enter the transaction details, and pay. The customers can choose the supported third-party e-wallet mobile app. They can select Bajaj Allianz life under the Insurance section, followed by the policy details, and proceed to pay or renew the premium.
The policyholder can make payments through the insurer's official mobile app. The policyholder needs to download and install the app on the mobile phone. The pay premium option is available under the main menu. The customers need to enter mandatory details such as mobile number, email address, policy number, date of birth of the life assured for authentication purposes, and the customer needs to make the payment to renew the premium.
The payment of premium using a credit card is similar to that of a debit card where the mandatory details are provided, followed by credit card details and CVV. One can also provide standing instructions using a credit card for the autopay feature. The policyholder can also avail of EMI with the help of a credit card.
Online payments are also facilitated using UPI, an integrated app to the customer's bank account. The policyholder needs to download and install the UPI app and link the bank account to the app for payment purposes. A payment request is sent to the customer's registered mobile number, and on approval, the payment is made to buy or renew the premium.
The most commonly used online method is the net banking method. In this method, the policyholder needs to add the insurer as a beneficiary, after which the requested amount is paid by the life insured. A payment receipt is generated and sent to the policyholder as proof. The auto-pay feature is also available in net banking, wherein instructions are given automatic clearance.
The online payment process is done using the internet. The customer can make the payment by using a PC or a mobile handset irrespective of the location and time. Online payment assistance is available throughout the day and night. The payments are made with a few clicks at the comfort of the policyholder. Another aspect of online payment is that the transfer of funds is instantaneous and involves less paperwork.
The offline payment is made by visiting the insurer's office location or visiting the nearest bank branches. The policyholders need to wait for their turn to meet the representatives. It is a time-consuming method and involves paperwork. The centres offering offline services are not open round the clock, especially during the weekends and the public holidays.
The customer must provide mandatory details such as mobile number, email address, policy number.
The debit card must be valid and verified by the bank.
The account will reflect the payments made after the cut-off time in the next working day. However, the funds will be deducted at the instant.
The customer needs to submit his identity proof, bank statement, a photocopy of debit card/ credit card to avail auto-pay feature.
The payment receipt is available in the customer’s profile and is accessible all the time.
Only active policies are reflected in the portal.
The advantages of online payments vary from being quick and efficient to hassle-free and paperless. Some of the benefits of online payments are as follows.
Quick- The customer can make payments with a click of the mouse by visiting the insurer's official website and opting to pay the premium. It is a quicker process which eliminates the need to stand in long queues.
Round-the-clock accessibility- The policyholders who work outside the traditional eight-hour schedule can access the payment options at their convenience, as the online options are open round the clock. One need not worry about the insurer’s office timings.
No charges-The online payments are free of cost and provide the customers with comfort and satisfaction. It is free irrespective of the online platform chosen, such as mobile app, social media, etc.
Endless Assistance- The insurer's official website has a toll-free helpline number. The customers use the toll-free number published on the insurer's website for policy-related queries. One can also make use of the live chat option to seek assistance.