Get covered at unbelievably low premiums for high sums. It can't get any better.

Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance Company is a joint venture between Bajaj Finserv Limited and Allianz SE.

Best Life Insurance Company of the Year by Golden Globe Tigers Award 2017

The comprehensive solutions to all life insurance needs, technical expertise and experience of Allianz SE blends with the goodwill of Bajaj brand in India that is backed with an in-depth know-how of Indian market. With a claim settlement ratio 99.16% which is one of the best in private sector, Bajaj Allianz Life offers life insurance solutions that cater to every segment and age-income profiles with different products from ULIPs to Child plans.

Interesting Facts about Bajaj Allianz Life Insurance

  • 99.16% claim settlement ratio for life insurance
  • Claim deposits via electronic transfer which makes process faster
  • No delay in claim settlement and 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 Buying Bajaj Allianz Life Insurance

  • Financial Protection - Provides financial protection to your family.
  • Flexibility - Flexibility in paying premiums and payouts.
  • Multiple Options - Choose from multiple options that suits best to your requirements.
  • Claim Settlement – Quick claim settlement service

Types of Bajaj Allianz Life Insurance Plans

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

1. Bajaj Allianz Unit Linked Insurance Plans (ULIPs)

ULIPs are financial products which offers 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 world - 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 offer the choice of 7 funds to strategies and invest.
  • This plan offers two investment portfolio strategy, 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.

b.) Bajaj Allianz Fortune Gain

  • The best of both the world - 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 offers 99.5% premium allocation for single premium Rs.10 Lakh and above.
  • Choice of 7 funds in which one can invest.
  • This premiums are 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.

c.) Bajaj Allianz Life Principal Wealth Gain

  • The best of both the world - 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 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.

d.) Bajaj Allianz Life Future Wealth Gain

  • The best of both the world - 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 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.

Bajaj Allianz 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.

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.

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.

d.) Bajaj Allianz iSecure Loan Term Plan

  • Pure life cover.
  • High sum assured at low premiums.
  • Financial protection for Family.
  • This plan helps you 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.

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 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.

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 installments.
  • Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

Bajaj Allianz Savings Plans

The savings plans Bajaj Allianz offers insurance with savings. With the help 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.

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 installments is available.
  • Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

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.

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.

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 offer 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.

Bajaj Allianz Investment Plans

This plans focused on providing coverage with the opportunity to build funds by investing. An individual can fulfill their financial goals with their current resources. Offers link and non-linked plans to cater different needs. Investment plan helps you and your family to sustain thick and thin of life. With investment plans, one can meet long term financial goals and fulfill dreams while stays 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.

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 premiums are 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.

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.

Bajaj Allianz 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.

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.

Bajaj Allianz 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 just academic needs are fulfilled but also ensures that the extra-curricular activities are 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 installment 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.

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.

Bajaj Allianz 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.

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

c.) Group Income Protection

  • For companies or organization 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.

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.

e.) Group Employee Care

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

f.) Group Employee Benefit Plan

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

g.) Group Term Care

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

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.

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.

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.

k.) Bajaj Allianz Life Super Gain Group Superannuation Scheme

  • A unit linked fund-based group superannuation scheme.
  • Helps an employer to assist their employees in their retirement planning.

Bajaj Allianz Micro Insurance

Poor and under privileged people of India had no access to the financial services. Bajaj Allianz's micro insurance plans is 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.

b.) Bajaj Allianz Life Bima Sanchay Yojana

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

Riders offered by Bajaj Allianz

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

a.) 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 rider sum assured to the nominee. Subject to the maximum rider benefit of Rs.1 crore.

b.) Accidental 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.

c.) Critical Illness Benefit Rider

Under this rider 11 critical illness are covered. On the first diagnosis of any specified 11 critical illness. Subject to maximum of Rs.50 lakh as rider benefit.

d.) Family Income Benefit Rider

On first diagnosis any of out of 11 critical illness, death, or accidental total disability, 1% rider sum assured will be paid.

e.) Waiver of Premium Benefit Rider

If due to 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 the maximum of Rs.50 lakh.

Claim Process of Bajaj Allianz Life Insurance

Bajaj Allianz offers fast claim process. Bajaj Allianz deposits claim within 30 days. Beyond which Bajaj Allianz pays 8.75% interest for every day delays.

1. Maturity

The maturity amount is directly deposited in the bank, provided the bank details are given in advance. Please update phone number, email id, mailing and permanent address before maturity date.

2. Documents

  • Photo ID proof & Address Proof of policyholder - (Self Attested Copy)
  • PAN Card
  • Bank Documents for NEFT - Copy of cancelled cheque of policyholder (where 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

3. 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

4. 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 Decision:

Claim decision will be informed to claimant by SMS and a letter will be sent to claimant's address.

Review of Bajaj Allianz Life Insurance

Bajaj Allianz has a claim settlement ratio of 99.16%, which is one of the best as a private life insurance provider. Bajaj Allianz Life Insurance Company is one of the leading Indian Life insurers with over 722 branches. Bajaj Allianz offer different products with variants so as to cater different requirements. As an individual looking for building funds, investing, savings, pure life cover, and retirement, Bajaj Allianz serves best in class products.

Company Address of Bajaj Allianz Life Insurance

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

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