Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance Company is a joint venture between Bajaj Finserv Limited and Allianz SE, the world’s leading insurance company. Founded in 2001, currently it enjoys a Pan-India presence in more than 638 cities and towns.

It has been adjudged as the leading Life Insurance Company of the Year by Golden Globe Tigers Award 2017

Allianz SE’s comprehensive solutions to all life insurance needs, technical expertise and experience blends with the goodwill of the brand name in India which is backed with an in-depth knowhow of the Indian market. With a commendable claim settlement ratio of 99.02% for the year 2021-22, which is one of the best in private sector, insurance policies from Bajaj Allianz Life cater to every segment and age-income profiles with different products from ULIPs to Bajaj Allianz Child Plans.

Interesting Facts About Bajaj Allianz Life Insurance

99.02% for the year 2021-22 claim settlement ratio for life insurance
Claim deposits via electronic transfer which makes process faster
No delay in claim settlement. With delay in every single day beyond 30 days, Bajaj Allianz pays 8.75% interest
Received ‘Best Life Insurance Company of the Year’ by Golden Globe Tigers Award 2017

Benefits of Bajaj Allianz Life Insurance Policies

Financial Protection - Provides financial protection to your family.
Customised solutions - A wide range of insurance plans tailor-made to meet the unique requirements of policyholders
Instant services - Seamless issuance and renewal of policies
Flexibility - Flexibility in paying premiums and payouts
Claim Settlement - Quick claim settlement services through 24*7 assistance
Instant claims - Assistance and SMS services on motor claim status through our 24x7 customer service centre
Transfer of No Claim Bonus - Hassle-free transfer of prevailing No Claim Bonus from any insurance company ranging from 20% - 50%
Easy accessibility - Presence in over 800 locations in India to ensure it is reachable to a wide section of the populace
Digitally-driven - Enhances accessibility and betters customer-centricity through digital payment of premiums
Cashless claims - Cashless claims at more than 4000 garages at convenient locations for your car. It also offers the advantage of 75% on account payment when cashless facility is not available.
Inspection services - Offers hassle-free inspection on motor insurance policies

Types of Bajaj Allianz Life Insurance Plans

Bajaj Allianz Life insurance offers a range of life insurance products along with variants to provide financial protection against life’s uncertainties.

ULIP Plan

ULIPs are financial products which offer the best of insurance and investment. They are the combination of market linked investment and life insurance. The part of the premiums are invested in building corpus by investing in market - equity, debts, hybrid, based on the investor's choice, and part of the premiums for providing life cover.

a) Bajaj Allianz Future Gain

The best of both the worlds - insurance and investment in one basket.
Part of the premiums are invested while other part is used for providing the coverage
Offers returns on maturity.
Option to surrender or partially withdraw ULIPs.
This plan includes maximum premium allocation and offers a range of 7 investment strategies.
This plan offers two investment portfolio strategies, Investor Selectable Portfolio Strategy and Wheel of Life Portfolio Strategy.
The Fund management charges are adjusted in the unit price.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Basic Sum Assured	Minimum: For an age less than 45 years: 10 times Annualized Premium or 0.5 x Policy term x Annualized Premium Greater than or equal to 45 years: 7 times Annualized Premium or 0.25 x Policy term x Annualized Premium ii. 22 years: the minimum sum assured available will be 11 times of Annualizedpremium i.e. (0.522 Annualized premium). Maximum X * Annualized Premium, where X depends on age at entry and policy term.
Age at Entry (min/max)	1 to 60 years
Age at Entry (min/max)	18 to 70 years
Death Benefit	The death benefit payable will be: The higher of the sum assured or regular premium fund value PLUS The higher of top-up premium sum assured or top-up premium fund value, if any

b) Bajaj Allianz Fortune Gain

The best of both the worlds - insurance and investment in one basket.
Part of the premium is invested while other part is used for providing the coverage.
Offers returns on maturity.
Option to surrender or partially withdraw ULIPs.
This plan offers 99.5% premium allocation for single premium Rs.10 Lakh and above.
Choice of 7 funds in which one can invest.
This premium is allocated as an investment in Investor Selectable Portfolio Strategy.
The Fund management charges are adjusted in the unit price.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Basic Sum Assured	Minimum: 1.25 times the single premium if Age at Entry < 45 yrs or 1.1 times single premium if Age at Entry >= 45 yrs Maximum: X * single premium, where X = depends on age at entry and policy term.
Age at Entry (min/max)	1 to 63 years
Age at Maturity (min/max	18 to 70 years
Death Benefit	The death benefit payable will be the higher of the sum assured or single premium fund value PLUS (ii) The higher of top-up premium sum assured or top-up premium fund value, if any.

c) Bajaj Allianz Life Principal Gain

The best of both the worlds - insurance and investment in one basket.
Part of the premium is invested while other part is used for providing the coverage.
Offers guaranteed returns on maturity.
Option to surrender or partially withdraw ULIPs.
This plan offers guaranteed maturity returns of principal amount.
This plan offers protection, life cover, and potential of high returns.
With this plan, you get guaranteed loyalty additions on maturity.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Basic Sum Assured	10X of Annual Premium
Age at Entry (min/max)	7 to 60 years
Age at Maturity (min/max)	18 to 70 years
Death Benefit	The death benefit payable is higher of Sum Assured or Fund Value or 105% of the total premium paid.

d) Bajaj Allianz Life Future Wealth Gain

The best of both the worlds - insurance and investment in one basket.
Part of the premium is invested while other part is used for providing the coverage.
Offers returns on maturity.
Option to surrender or partially withdraw ULIPs.
This plan offers high insurance cover. Guaranteed maturity returns of principal amount.
This plan offers protection, life cover, and potential of high returns.
With this plan you get guaranteed loyalty additions on maturity.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Basic Sum Assured	For Age <45, 10 times Annualized Premium or 0.5Annualized Premium Policy Term, whichever is higher. For Age>=45, 10 times Annualized Premium or 0.25Annualized Premium Policy Term, whichever is higher.
Age at Entry (min/max)	Wealth Plus 0 to 65 years Wealth Plus Care – 18 – 53/55
Age at Maturity (min/max)	Wealth Plus 18 to 75 years Wealth Plus Care – 28 – 70
Death Benefit	The death benefit payable will be higher of: a. Sum Assured plus Top up Sum Assured, if any, b. Fund Value as on the date of receipt of intimation of death. Plus Income Benefit (for Wealth Plus Care option)

e) Bajaj Allianz Life Goal Assure

Fund Booster at maturity - (for policy term 10 years or greater)
Loyalty additions - (for Annualized Premium of Rs. 5 Lakhs or more & for policy term 10 years or greater)
Return of mortality charges at maturity
Choice of eight funds
Option to take maturity in instalments with Return Enhancer
Choice of 4 investment portfolio strategies
Option to reduce sum assured and change premium payment term
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, 1961 for premiums and the pay outs.

Eligibility and Benefits	Description
Basic Sum Assured	Minimum: (Age) Less than 45 years, higher of: : 1. 10 times Annualized Premium or : 2. 0.5 * Policy term * Annualized Premium : (Age) Greater than or equal to 45 years, higher of: : 1. 10 times Annualized Premium or : 2. 0.25 * Policy term * Annualized Premium : Maximum: X * Annualized Premium, where X depends on age at entry and policy term. :
Age at Entry (min/max)	O to 60 years
Age at Maturity (min/max)	75 years
Death Benefit	The death benefit payable will be: a. Higher of, Regular Premium Sum Assured or Regular Premium Fund Value plus. b. Higher of, Top-up Sum Assured or Top-up Premium Fund Value.

Term Insurance

Term plan is pure death benefit plan. In an unfortunate event of the life assured, the nominee receives the sum assured. In this way, the breadwinner can ensure that the family stays financially secure. Bajaj Allianz different types of Term Plan and one can include riders to expand the coverage of the base policy.

a) Bajaj Allianz Life eTouch Online Term

Pure life cover.
High sum assured at low premiums.
Financial protection for Family.
This term plan by Bajaj offers four variants in Term Plan - Shield, Shield Plus, Shield Super, Shield Supreme.
The variants offer different riders such as Accidental Death Benefit, Accidental Total and Permanent Disability, Critical illness.
In case of death of the life assured, the sum assured is paid to the nominee.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Basic Sum Assured	Rs. 50,00,000
Age at Entry (min/max)	18 to 65 years
Age at Maturity (min/max)	28 to 75 years
Death Benefit	The Sum Assured will be paid on death and the policy will terminate.

b) Bajaj Allianz iSecure Term Plan

Pure life cover.
High sum assured at low premiums.
Financial protection for Family.
Offers Level Term plan options.
Offers both individual and joint coverage option. This plan offers to include spouse at a later stage, if one is single at the time of buying.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Basic Sum Assured	Rs. 2,50,000 for general category and Rs. 20,00,000 for the categories split by Preferred Non-Smoker, Non-Smoker & Smoker.
Age at Entry (min/max)	18 to 60 years
Age at Maturity (min/max)	28 to 70 years
Death Benefit	The Sum Assured will be paid on death and the policy will terminate.

c) Bajaj Allianz iSecure More Term Plan

Pure life cover.
High sum assured at low premiums.
Financial protection for Family.
In this plan one has an option to increase the coverage/sum assured by 5% on every 5th year policy renewal.
This plan offers individual or joint life cover. Rebates on high sum assured.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Basic Sum Assured	Rs. 2,50,000, no such limit on maximum amount.
Age at Entry (min/max)	18 to 60 years
Age at Maturity (min/max)	28 to 70 years
Death Benefit	. Individual Life - The Sum Assured will be paid on death and the policy will terminate . Joint Life - The benefit payable will be Prevailing Sum Assured of each life. .

d) Bajaj Allianz iSecure Loan Term Plan

Pure life cover.
High sum assured at low premiums.
Financial protection for Family.
This plan helps to protect you and your family from any loan liabilities.
In case of the death of a breadwinner, this plan helps to cover any loan liabilities - Home, Motor, Personal, etc.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Basic Sum Assured	Rs. 3,00,000, no such limit on maximum amount.
Age at Entry (min/max)	18 to 60 years
Age at Maturity (min/max)	28 to 65 years
Death Benefit	Individual Life - The Sum Assured will be paid on death and the policy will terminate. Joint Life - The benefit payable will be Prevailing Sum Assured of each life.

e) Bajaj Allianz Life Secure - A Non-Linked Whole Life Term Plan

Pure life cover.
High sum assured at low premiums.
Financial protection for Family.
This plan offers a whole life cover.
A unique plan by Bajaj Allianz till your 100th birthday anniversary.
In addition to the base plan, you can enhance it with riders - Accidental Death Benefit, Accelerated Critical Illness plus waiver of premiums.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Basic Sum Assured	Rs. 20,00,000
Age at Entry (min)	25 years
Age at Entry (max)	Coverage Option I & II: 55 years Coverage Option III: 50 years
Death Benefit	The sum assured on death will be paid. In case of accidental death, an additional sum assured will be paid

f) Bajaj Allianz Lifestyle Secure

Pure life cover.
High sum assured at low premiums.
Financial protection for Family.
This plan offers a life protection cover with an inbuilt terminal illness rider.
No medical tests are required.
Rebates on high sum assured.
Payout option for sum assured as monthly instalments.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Basic Sum Assured	Minimum: Rs. 3,00,000 Maximum: Rs. 15,00,000
Age at Entry (min/max)	18 to 50 years
Age at Maturity (min/max)	23 to 60 years
Death Benefit	The death benefit payable is the sum assured in equated monthly installments.

Savings Plans

The savings plans of Bajaj Allianz offer insurance with savings. With the help of savings plans, the family is not only protected against the financial loss in case of the breadwinner's passing away, but also helps an individual to build funds for short and long term goals.

a) Bajaj Allianz Save Assure

Life coverage plus opportunity of savings.
Financial protection for Family.
Build funds for short and long term goals.
In case of death of the life assured, the sum assured is paid to the nominee.
A perfect saving plan that offers guarantees 115% of sum assured.
It's a traditional endowment plan, in which the part of the premium is for insurance and the other part is used to build funds.
Offers 2 policy terms, 15 and 17 years with limited premium paying years as 10 and 12 years.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Basic Sum Assured	Rs. 1,00,000 No such limit on maximum amount.
Age at Entry (min/max)	1 to 60 years
Age at Maturity (min/max)	18 to 75 years
Death Benefit	The Sum Assured on Death will be payable as death benefit.

b) Bajaj Allianz Guarantee Assure

Life coverage plus opportunity of savings.
Financial protection for Family.
Build funds for short and long term goals.
In case of death of the life assured, the sum assured is paid to the nominee.
A non-linked, non-participating limited endowment plan.
Fixed premium payment term of 5 years.
An individual can avail any out of the three policy terms 7, 8, and 9 years.
An option of taking payout as monthly instalments is available.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Basic Sum Assured	Rs. 1,00,000 No such limit on maximum amount.
Age at Entry (min/max)	9 to 60 years
Age at Maturity (min/max)	18 to 69 years
Death Benefit	The death benefit payable will be ‘Sum Assured on Death’ plus accrued Guaranteed Additions.

c) Bajaj Allianz Cash Assure

Life coverage plus opportunity of savings
Financial protection for family
Build funds for short and long term goals
In case of death of the life assured, the sum assured is paid to the nominee
A traditional money back plan.
This plan offers lump sum payouts at regular intervals.
Policy term can be 16, 20, 24, and 28 years.
Depending on the choice of policy term, you can get guaranteed money back up to 150% of sum assured.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Basic Sum Assured	Rs. 1,00,000 No such limit on maximum amount.
Age at Entry (min/max)	0 to 54 years
Age at Maturity (min/max)	18 to 70 years
Death Benefit	The death benefit payable will be Sum Assured on Death* plus Vested Bonus, if any, plus Interim Bonus, if any, plus Terminal Bonus, if any, subject to a minimum of 105% of the total premiums paid.

d) Bajaj Allianz Super Life Assure

Life coverage plus opportunity of savings.
Financial protection for family.
Build funds for short and long term goals.
In case of death of the life assured, the sum assured is paid to the nominee.
A traditional endowment plan with two variants available - Super and Life.
Under this plan one can avail loan but only after acquired surrender value.
Offer bonus after each year.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Basic Sum Assured	Super - Rs. 1,00,000 Life - Rs. 50,000
Age at Entry (min/max)	Super - 18 to 50 years Life - 0 to 55 years
Age at Maturity (min/max)	70 years
Death Benefit	The death benefit payable will be: Sum Assured on Death plus Vested Bonus Plus Terminal Bonus, if any or 105% of the total premiums paid.

e) Bajaj Allianz Life Income Assure

Life coverage plus opportunity of savings.
Financial protection for family.
Build funds for short and long term goals.
In case of death of the life assured, the sum assured is paid to the nominee.
This plan comes with guaranteed monthly income.
This plan offers two life cover variants as Income and Assure.
Option to choose from 4 policy terms.
Bonuses to enhance the savings.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Basic Sum Assured	144 * Minimum GMI chosen
Age at Entry (min/max)	0 to 50 years
Age at Maturity (min/max)	18 to 74 years
Death Benefit	Assured lump sum payment Income: Vested bonus plus terminal bonus, if any. The sum assured on death will be paid to the nominee as monthly income, over the next 144 equated monthly installments (over the next 12 years)

Investment Plans

These plans are focused on providing coverage with the opportunity to build funds by investing. An individual can fulfil their financial goals with their current resources. It offers link and non-linked plans to cater different needs. Investment plans help you and your family to sustain through thick and thin of life. With investment plans, one can meet long term financial goals and fulfil their dreams while staying protected.

a) Bajaj Allianz Invest Assure

Life coverage plus opportunity of investments.
Financial protection.
Meet long term financial goals.
Option to choose from unit-linked and non-linking.
In case of death of the life assured, the sum assured is paid to the nominee.
A perfect investment plan that offers Accrued Guaranteed Loyalty Additions of up to 315% of guaranteed maturity benefit.
It's a traditional endowment plan, offers life cover and great returns.
Offers 4 policy terms, 15, 20, 25, and 30 years with limited premium paying years.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Basic Sum Assured	Rs. 1,00,000
Age at Entry (min/max)	Silver Variant - 0 year, Gold Variant - 18 years, maximum 50 years
Age at Maturity (min/max)	Minimum: 18 years. Maximum: Silver Variant - 70 years, Gold Variant - 65 years.
Death Benefit	The sum assured on death is payable. The Sum Assured on Death is the higher of: 10 times of annualised premium* for age at entry less than 45 years or 7 times annualised premium* for age at entry 45 years and above OR 105% of total premium* paid till date of death OR 1.25 times or 2 times of Sum Assured

b) Bajaj Allianz Fortune Gain

Life coverage plus opportunity of investments.
Financial protection.
Meet long term financial goals.
Option to choose from unit-linked and non-linking.
In case of death of the life assured, the sum assured is paid to the nominee.
It is a unit-linked endowment plan. This plan offers 99.5% premium allocation for single premium of Rs.10 Lakh and above.
Choice of 7 funds in which one can invest.
This premium is allocated as an investment in Investor Selectable Portfolio Strategy. Loyalty Additions of up to 3% of the single premiums.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Basic Sum Assured	Minimum - 1.25 times single premium if Age at Entry < 45 yrs 1.1 times single premium if Age at Entry >= 45 yrs. Maximum - X * single premium, where X is based on age at entry and Policy term.
Age at Entry (min/max)	1 to 63 years
Age at Maturity (min/max)	18 to 70 years
Death Benefit	The death benefit payable will be: (I) The higher of the sum assured or single premium fund value PLUS (ii) The higher of top-up premium sum assured or top-up premium fund value, if any

c) Bajaj Allianz Cash Assure

Life coverage plus opportunity of investments.
Financial protection.
Meet long term financial goals.
Option to choose from unit-linked and non-linking.
In case of death of the life assured, the sum assured is paid to the nominee.
With limited premium payment term, you can select 1.25 or 2 times of sum assured as life cover.
Available in two variants - Gold and Silver.
You can also avail loan.
Optional riders available with rider benefits.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Head 1	Head 2	Head 3	Head 4	Head 5
Contnent R1C1	Contnent R1C2	Contnent R1C3	Contnent R1C4	Contnent R1C5
Contnent R2C1	Contnent R2C2	Contnent R2C3	Contnent R2C4	Contnent R2C5

d) Bajaj Allianz Elite Assure Plan

Provides the perfect balance of life cover and great return on investment.
Accrued Guaranteed Loyalty Additions of up to 315% of Guaranteed Maturity Benefit, depending on the premium payment term chosen
Choice of 4 policy terms - 15, 20, 25 and 30 years
Option to choose between regular and limited premium payment term
Option to boost coverage with rider benefits
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, 1961 for premiums and the pay outs.

Eligibility and Benefits	Description
Basic Sum Assured	10 times of Annualized Premium
Age at Entry (min/max)	0 to 55 years
Age at Maturity (min/max)	18 to 70 years
Death Benefit	The death benefit payable will be Sum Assured on Death plus Guaranteed Loyalty Additions plus Vested Bonus, if any plus Interim Bonus, if any plus Terminal Bonus, if any, subject to Guaranteed Death Benefit of 105% of the total premiums paid till the date of death.

Retirement Plans

A retirement plan is a way of systematic savings. This will help in building funds for your retirement. As increase in the expenses and inflation hinders in savings and would make difficult to continue the same lifestyle post retirement this plan ensures you continue to maintain your lifestyle.

a) Bajaj Allianz Pension Guarantee

Life coverage plus opportunity of building funds for retirement.
Meet retirement goals.
In case of death of the life assured, the annuity is paid to the spouse.
A perfect non-linked and non-par immediate plan.
Guaranteed income after retirement.
This plan offers 6 variants including an option of joint life last survivor and paying annuity to the spouse.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Minimum Purchase Price	Rs. 25,000
Age at Entry (min/max)	37 to 80 years
Minimum Annuity Payout	Yearly - Rs. 12,000 Half - Yearly - Rs. 6000 Quarterly - Rs. 3000 Monthly - Rs. 1000

b) Bajaj Allianz Retire Rich

Life coverage plus opportunity of building funds for retirement.
Meet retirement goals.
In case of death of the life assured, the annuity is paid to the spouse.
A unit linked plan.
Offers guaranteed vesting and death benefits.
Option of choosing premium payment -single, limited, regular.
Option of changing premium paying term in case of regular and limited premium paying option.

Eligibility and Benefits	Description
Policy Term	Minimum - 7 years Maximum - 30 years
Age at Entry (min/max)	30 to 73 years
Age at Maturity (min/max)	37 to 80 years
Death Benefit	The death benefit payable will be higher of the total Fund Value as on the date of receipt of intimation of death or the Guaranteed Death Benefit.

Child Plans

This plan offers to save money for child’s future. This plan helps to build funds for child’s education and marriage. The maturity funds ensures those needs are met on time. Under this plan, not only academic needs are fulfilled, but it also ensures that extra-curricular activities are also equally funded.

a) Bajaj Allianz Young Assure

Opportunity to build funds for child’s future.
Guaranteed Maturity Benefit and Guaranteed Loyalty Additions.
A traditional savings plan with limited premium payment endowment plan.
Offers multiple premium payment and policy term options.
Ensures funds are available at the time of child's education, marriage, etc.
Option of 3 cash instalment to choose from to meet the financial needs.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Eligibility and Benefits	Description
Basic Sum Assured	10 times Annualized Premium
Age at Entry (min/max)	18 to 50 years
Age at Maturity (min/max)	18 to 50 years
Death Benefit	The Sum Assured on Death, subject to the guaranteed death benefit of 105% of the total premiums paid till date of death, will be paid immediately and the policy will be converted to a fully paid-up policy.

b) Bajaj Allianz Young Assure Plus

Opportunity to build funds for child’s future.
Guaranteed Maturity Benefit and Guaranteed Loyalty Additions.
This plan is similar to the Bajaj Allianz Young Assure Plus but with additional features.
The Maturity Benefit is the total sum of Guaranteed Maturity Benefit, Guaranteed Additions, Vested Bonus, Interim Bonus (if any) and Terminal Bonus (if any).
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

c) Bajaj Allianz Lifelong Assure

Opportunity to build funds for child’s future.
Guaranteed Maturity Benefit and Guaranteed Loyalty Additions.
A non-linked whole life plan.
An income plus protection plan till 100th birthday.
Cash Bonus starts from the end of 6th year.
Guaranteed cash back once the premium payment term ends. Option to select from 3 term - 10, 15, 20 years.
Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

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Eligibility and Benefits	Description
Basic Sum Assured	Rs. 1,00,000
Age at Entry (min/max)	10 to 55 years
Policy Term	100 minus Age at Entry
Death Benefit	For age at entry less than 45 years, higher of i) 10 times annualised premium ii) 105% of total premium paid till date of death iii) 200%, 250% or 300% of sum assured depending on the PPT chosen. For age at entry 45 years & above, higher of i) 7 times annualised premium ii) 105% of total premium paid till date of death iii) 200%, 250% or 300% of sum assured depending on the PPT chosen.

Group Plans

Group insurance plans are for group members, employees and their families. Generally, the group plans are opted by the organization, to cover their employees and also their families. Bajaj Allianz Life Insurance offers tailor-made group insurance policies to help the organization in safeguarding their employees and their family.

a) Bajaj Allianz Life Jan Suraksha Yojna

A non-linked, non-participating term plan.
Offers regular and single premium group micro term assurance plan.

Eligibility and Benefits	Description

b) Bajaj Allianz Life Pradhan Mantri Jeevan Jyoti Bima Yojana

It is a non-linked, non-participating term plan
One year renewable group term insurance plan

Eligibility and Benefits	Description

c) Group Income Protection

For companies or organizations that buy or undertake land from small land owners or farmers.
Provides a method to gift the land holders and their families a regular income in the form of annuity and death benefit in case of unfortunate death of the landholder.

Eligibility and Benefits	Description

d) Group Term Life Insurance Plan

A group term plan that helps the member and their family to stay financially protected.
Offers lump sum payout and income benefit.

Eligibility and Benefits	Description

e) Group Employee Care

A traditional variable non-linked, non-participating fund based group insurance product.
Helps in building a fund for employees.

Eligibility and Benefits	Description

f) Group Employee Benefit Plan

Offer benefits to the employees.
Helps in managing company’s funds for employees’ gratuity and leave encashment benefits.

Eligibility and Benefits	Description

g) Group Term Care

A non-linked, nonparticipating single premium group term plan.
Returns of premiums on maturity.

Eligibility and Benefits	Description

h) Group Superannuation Secure

Provides financial security to company’s employees after retirement.
It’s a non-linked, non-participating plan, variable fund-based scheme to manage pension fund for your employees.
Offers a minimum guaranteed interest rate.

Eligibility and Benefits	Description

i) Group Annuity Plan

A single premium group plan that provides immediate annuity income to the group members.

Offers regular income as pension to maintain the same lifestyle even after retirement.

Head 1	Head 2	Head 3	Head 4	Head 5
Contnent R1C1	Contnent R1C2	Contnent R1C3	Contnent R1C4	Contnent R1C5
Contnent R2C1	Contnent R2C2	Contnent R2C3	Contnent R2C4	Contnent R2C5

j) Group Credit Protection Plus

Helps the group member's family to repay any loan or debts in case the group member dies prematurely, or suffers an accidental permanent total disability, or a critical illness.

Eligibility and Benefits Description

l) Bajaj Allianz Life Group Sampoorna Suraksha Kavach

This is a non-participating single, limited and regular premium payment group micro insurance plan.
It covers different kinds of micro loans given by financial institutions, micro finance institutions, small finance banks etc., to their clients.

Eligibility and Benefits	Description

Micro Insurance

Poor and under privileged people of India have no access to financial services. Bajaj Allianz's micro insurance plans are an attempt to provide financial security with the help of the term plan at affordable prices.

a) Bajaj Allianz Life Bima Dhan Suraksha Yojana

Protect your family with a non-linked, non- participating, single & regular premium payment micro term plan.
This plan also offers return of premiums at maturity.

Eligibility and Benefits	Description
Death Benefit	The sum assured on death will be paid.
Age at Entry (min/max)	18 to 60 years
Age at Entry (min/max)	70 years
Age at Entry (min/max)	Depends on the Premium, Premium Payment Term and age at entry.

b) Bajaj Allianz Life Bima Sanchay Yojana

Provides financial protection for your family.
Comes at affordable prices.

Eligibility and Benefits	Description
Death Benefit
Age at Entry (min/max)
Age at Maturity (min/max)
Basic Sum Assured

Documents Required to Apply for Bajaj Allianz Life Insurance Policies

Documents needed while applying for an insurance plan from Bajaj Allianz are:

Proposal Form
Age Proof
Identity Proof
Address Proof
Income Proof

Documents for Settlement of Claims

Bajaj Allianz offers fast claim process and deposits claim within 30 days, provided the required documents are submitted well in time, beyond which Bajaj Allianz pays 8.75% interest for every day of delay.

Essential Documents

Necessary documents for settlement of claims are:

Photo ID proof and Address Proof of the policyholder - (Self-attested Copy)
PAN Card
Bank Documents for NEFT - Copy of cancelled cheque of policyholder (with name and IFSC Code is printed) or copy of Printed Bank Passbook.
Foreign Account Tax Compliance Act (FATCA) Form (In case of NRI policies)
Annuity Form (In case of Pension Products)

Claim Registration

Intimate Bajaj Allianz Life Insurance on their Toll-Free number - 1800 - 209 - 7272
Provide Death Certificate in case of a death of the insured
KYC of the nominee
Bank Details of the nominee
Original policy document
Policyholders have to register their phone number, email ID, mailing and permanent address before the maturity date to receive the maturity amount directly in their registered bank account.

Other Claim Documents

Death Claim:

Copy of Death Certificate issued by Municipal Authorities
Cancelled Cheque with NEFT details
Employer's Certificate - In case Life Assured is Employed
Medical Attendant Certificate
ID proof and Address proof of the nominee

If Death is unnatural:

FIR
Post-mortem report
Police final or inquest report

Claim Process of Bajaj Allianz Life Insurance

The life insurance claim process is as under:

Step 1 - Claim Registration The claimant or nominee will have to visit any branch office with – claim intimation form/letter, death certificate, KYC of nominee, bank details of nominee and original policy bond.
Step 2 - Claim Scrutiny and Decision Additional Requirements will be communicated and a dedicated team will follow up. Once all the necessary documents are received and assessments are complete, genuine claims will be settled. The claim decision will be notified to the claimant via SMS and a detailed letter shall be mailed.
Step 3 - Claims Review In the event the claimant is unhappy with the decision, the individual can write to the Claims Review Committee asking for the claim to be reviewed.

Bajaj Allianz Claim Settlement Ratio had a claim settlement ratio of 99.02%.

Checking Bajaj Allianz Policy Status

There are two modes by which you can track your application - online and offline.

Checking Policy Status Online: To track your policy application online, click on ‘Track Your Application’ that appears on the webpage. Enter Application Number or 'Proposal Number' and Life Assured Date of Birth, and finally press on ‘Submit’. You will be able to track your application.

Checking Policy Status Offline: To check your policy status via the offline mode, you can contact the insurance company's customer service team by dialling 1800 233 7272 or 1800 209 7272. You can also visit any nearby branch office and enquire about the status of your application.

Other Details of Bajaj Allianz Life Insurance

Bajaj Allianz Online Premium Payment:

To make premium payments online, click on 'Pay Your Premium' button that appears on the company's webpage. Individuals can pay their premiums online through the following modes - Credit card (Visa/Maestro/ Master/Amex/Diners accepted), Debit card (Visa/Maestro/Master/Rupay accepted), Netbanking, e-Wallets, Unified Payments Interface (UPI) and EMIs on select cards. After selecting the mode of premium payment, enter policy number, DOB of Life Assured, email ID and mobile number. Click on ‘Pay Premium’ once all the necessary details are entered.

Bajaj Allianz Premium Calculator:

Individuals who would like to avail a life insurance policy from Bajaj Allianz can make use of the insurer’s life insurance premium calculators. These facilities will help users determine the cost of achieving their life goals. The premium calculators available on the company website are as under:

Bajaj Allianz Life Tax Calculator
Bajaj Allianz Child Future Calculator
RightInsure Calculator
Right Invest Calculator
RetireRich Calculator
Fortune Calculator
Power of Compounding Calculator

Riders Offered by Bajaj Allianz

You can now customise your Bajaj Allianz Life Insurance Plan with optional paid Riders.

Accidental Death Benefit Rider: In the case of an accidental death of the life insured within 180 days of the occurrence of an accident, Bajaj Allianz will pay a rider sum assured to the nominee. It is subject to the maximum rider benefit of Rs.1 crore.
Accidental Permanent Total/Partial Disability Rider: If accident causes total or partial disability, Bajaj Allianz will pay rider sum assured. The benefit will be depending on the bodily injury.
Critical Illness Benefit Rider: Under this rider, 11 critical illnesses are covered. The rider can be claimed on the first diagnosis of any of the specified 11 critical illnesses, subject to a maximum of Rs.50 lakh as rider benefit.
Family Income Benefit Rider: On the first diagnosis of any one of the enlisted 11 critical illnesses, death, or accidental total disability, the policyholder can avail 1% of the sum assured as rider.
Waiver of Premium Benefit Rider: In case of accidental total disability, first diagnosis of any critical illness or death of the proposer, the future premiums will be waived. The rider benefit is subject to a maximum of Rs.50 lakh.

Bajaj Allianz ULIP Waiver of Premium Benefit Rider: A sum equal to future premiums shall be infused in the funds under the base plan, at regular intervals, subject to a maximum of Rs. 50 lakhs, under all policies put together with the insurer, on the earlier occurrence of:
- Accidental permanent total disability or first diagnosis of critical ailment of the rider life assured.
- Death or accidental permanent total disability or first diagnosis of critical ailment of rider life assured.

Bajaj Allianz ULIP Accidental Permanent Total/Partiality Benefit Rider: This rider will pay out a benefit if the rider life assured suffers permanent disability as a result of an accident. The benefit is only payable if the life assured becomes disabled within 180 days from the date of an accident. Bajaj Allianz ULIP Accidental Death Benefit Rider: In the event of death due to an accident, the rider sum assured chosen shall be paid.

Bajaj Allianz ULIP Critical Illness Benefit Rider: On the first diagnosis of any one of the 11 listed critical ailments of the rider life assured, the rider sum assured shall be payable.

Bajaj Allianz ULIP Family Income Benefit Rider: On the first occurrence of accidental permanent total disability, first diagnosis of any of the 11 listed critical ailments or death of the Rider Life assured, 1% of the rider sum assured shall be payable on a month-on-month basis for a period of the rider term subject to a minimum of 10 years.

Group Riders:

Bajaj Allianz Life Group Accidental Permanent Total/Partial Disability Benefit Rider: This is a non-participating, non-linked group rider that provides coverage to members in the event of any Accidental Permanent Total or Partial Disability.

Bajaj Allianz Life Group Accidental Death Benefit Rider: If the cause of death is due to an accident an amount equal to the rider sum assured chosen shall be paid. The benefit is only payable if the demise occurs within 180 days from the date of the accident.
Bajaj Allianz Life Group Accelerated Critical Illness Rider: On the diagnosis of any of the 11 listed critical ailments of member or the first of the joint members, a sum that is equal to the Rider Sum Assured becomes payable.

Awards & Recognitions of Bajaj Allianz Life Insurance Company

The following are the prestigious awards received by Bajaj Allianz in the last five years:

AON Best Employers India 2018 by AON
Customer Loyalty & Experience Awards 2018
SKOCH Inclusion Award for Micro Insurance 2018
Marketer of the Year 2018 at 3rd Annual Insurance India Summit & Awards
Tapan Singhel, MD & CEO of Bajaj Allianz, won the award for CEO of the Year 2018 at the 3rd Annual Insurance India Summit & Awards
India's Leading Insurance Company (Non-life Private) - Dun & Bradstreet - BFSI Awards 2017
India's Most Trusted CEOs 2017 - WCRC Leaders Asia
Personality of the Year - Annual Insurance Summit & Awards
Fintelekt Insurance Awards 2017
Today's Traveller Award 2017
Asia's Most Promising Brand 2017 – WCRC
LinkedIn Power Profile 2017
India's Most Trusted Power Brand 2017 by Planman Media
Technology Initiative of the Year 2017 at Asia Insurance Industry Awards
Digital Insurer of the Year 2017 at Asia Insurance Industry Awards
National Awards for Excellence in Insurance 2017 by World HRD Congress
Most Influential Business Leader in Asia 2017 by Economic Times
Most Policy Holder and Broker Friendly Insurer 2017 by IBAI
HR Team of the Year - The Guild & Hindustan Times Mint Connect
Aon Best Employer 2016
ASSOCHAM Award 2016
iAAA Rating by ICRA
BFSI Digital Pioneer Award by the Indian Express Group
General Insurance Company of the Year 2016
Associated Chambers of Commerce and Industry Leadership Award
New Insurance Product of the Year by ABF Insurance Asia Awards 2016
Domestic General Insurer of the Year India by ABF Insurance Asia Awards 2016
CEO of the Year by ABF Insurance Asia Awards 2016
Best Non-Life Insurance Provider - Outlook Money Awards 2016
Best General Insurance Company 2015 - ABP News BFSI Awards
Allianz Global Innovation Award 2015
Best General Insurance Company 2015 - Vijayavani BFSI Excellence Awards 2015
Insurer Claims Team of the Year 2015 by Claims Award Asia
The Silicon Valley Business Award 2015
Pharma Leaders Power Brand Awards 2015
Outlook Money Awards 2015
Economic Times Best Corporate Brand Award 2015
Best Insurance Company in the Private Sector - 2014 by ABP News BFSI Awards
Golden Peacock Award 2014
Allianz Global Innovation Awards 2014
Best Travel Insurance Company by CNBC AWAAZ Travel Awards 2014
Lokmat Banking, Financial Services and Insurance Awards 2014
Financial Inclusion and Payment Systems Awards 2014
Best General Insurance Company of the Year, by Asia Insurance Industry Awards 2014
Insurer Claims Team of the Year at the Claims Awards Asia 2014
Best in Diversity Award - TA Annual Leadership League Award 2014
General Insurance Provider of the Year award - Money Today FPCIL Awards 2014
Innovations in the BFSI sector - Finnoviti 2015 awards
Certificate of Appreciation from the Karnataka High Court - National Lok Adalat
Admired Brand of India 2014-2015
Legend in Insurance Industry by Brand Vision India Awards 2014-15
Personal Lines Growth Leadership Award Year 2013
General Insurance Company of the Year - Indian Insurance Awards 2013
Claims Awards Asia 2013
Allianz Global Innovation Awards 2013
General Insurer of the Year - Private Sector 2011 & 2012
Best General Insurance Provider- Private Sector at the CNBC TV18 India Best Bank and Financial Institution Award FY 11 and 12
General Insurance Provider of the Year - Money Today FPCIL Awards 2012
Best Leading Private Player- Non Life
General Insurer of the Year - Private Sector 2011 & 2012
Best General Insurance Provider- Private Sector at the CNBC TV18 India Best Bank and Financial Institution Award FY 11 and 12
General Insurance Provider of the Year - Money Today FPCIL Awards 2012
Business Leader in General Insurance by NDTV Profit
Best Travel Insurer awarded by CNBC 2010 and 2011
Best Contribution on Investor Education and Category Enhancement
Bloomberg UTV Financial Leadership Award 2011
Best Insurer - General Insurance by India Insurance Review, 2011
ISO 27001:2005 Certification to the IT Department by DNV
Claims Department has received the ISO 9001:2008 Certification
Customer Responsiveness Award by Avaya Global Connect, 2007

Contact Details

To know more about General Insurance Plans from Bajaj Allianz, you can get in touch with Coverfox at 1800-209-9970.

Bajaj Allianz Life Insurance Co. Ltd. Address: Policy Servicing Department, 3rd Floor, Bajaj Finserv Building, Survey No 208/1-B, Behind Weikfield IT Park, Viman Nagar, Pune – 411014

Toll Free Number - 1800-209-5858

FAQs of Bajaj Allianz Life Insurance policy

How do I renew my Bajaj Allianz Life Insurance policy?

You can renew your Bajaj Allianz Life Insurance policy through any one of these payment options:

Online payment: Payment through Debit/Credit Card, Netbanking, e-Wallets, etc.
Auto Debit/Auto Pay: Payment through your Credit Card, Netbanking
Walk-in to Balic Office: Payment through Direct Debit Facility, Credit Card, DD, Cheque or Cash
Walk-in to Bank: Payment at registered Bank Branches
Other Outlets: Suvidhaa, Common Service Centres and CAMPSRep

For further clarifications or assistance, you can get in touch with Coverfox at 1800-209-9970.

How do I cancel my Bajaj Allianz policy online?

Only if you have bought your Bajaj Allianz Insurance policy online, you can surrender it online from your policy profile within 30 days of opting for the policy. If 30 days have lapsed since the start of your policy term, you will have to visit your nearest Bajaj Allianz outlet with the necessary documents.

However, the cancellation is subject to several other factors, which vary for every insurance plan. For further assistance and clarifications, you can get in touch with Coverfox at 1800-209-9970.

How can I check my claim status?

You can check your claim status online by visiting the official website of Bajaj Allianz Life Insurance or by clicking on the link here: sales.baliconline.in/SalesPortal2/icZone/ClaimStatus.jsp

For further assistance, you can get in touch with Coverfox at 1800-209-9970.

Are there any tax exemptions on benefits received?

Yes, you will be eligible for tax deductions under Section 80 C and Section 10 (10D) of the Income Tax Act, 1961 for Life Insurance Products. Section 80D of Income Tax Act, 1961 for all health insurance plans and health related riders.

What is sum assured in Bajaj Allianz?

The sum assured levels will differ depending on which Bajaj Allianz life insurance plan you have availed.

Is death by natural calamities covered?

Certain natural calamities are covered under Bajaj Allianz’s life insurance policies. Before availing a policy, make sure to go through the list of exclusions to find out what kind of disasters are not covered.

Does Bajaj Allianz Life Insurance offer maternity benefit?

Maternity benefit falls under the health insurance segment and not covered under life insurance plans.

Is coverage available during foreign travel and stay?

Yes. If the life assured passes away in a foreign country, benefits will be paid depending upon the country and purpose of travel.