Bajaj Allianz Life Insurance is a joint venture between two solid and prosperous businesses in their own right: Bajaj Finserv Limited, the leading asset management and insurer in the world, and Allianz SE, one of India's most diverse non-banking financial institutions. Bajaj Allianz Life has continuously changed to provide tech-enabled cutting-edge services to increase customer satisfaction. The company continues to interact with clients through various original platforms, and the Bajaj Allianz Plankathon 2020 has earned it a spot in the Guinness Book of World Records. The company provides life insurance solutions through its robust product line, which includes conventional insurance products and ULIPs to help customers achieve their Life goals. Additionally, the business provides health insurance plans and group insurance.
At Bajaj Allianz, the company aims to offer an experience to the customers, which has taken the company to the next level. This hard work has helped Bajaj Allianz Life Insurance win many awards and recognition in recent years. They are listed below:
- Bajaj Allianz won the Best Employer Award 2021, recognising the company’s intention to build an environment encouraging innovation and growth.
- The "Achromic Point Anti-Fraud Award" was given to Bajaj Allianz Life during the 4th Annual Anti-Fraud Conclave & Awards 2022.
- At the Customer FEST Leadership Awards in 2021, the "Best Digital Customer Experience Initiative" was given to Bajal Life Insurance.
- The "Best Risk Management Initiative - Life Insurance" award was given to Bajaj Allianz Life at the Banking Frontiers-hosted InsureNext Awards & Summit 2022.
- For Bajaj Allianz Life Smart Assist, the company received the Digital Technology Senate Award 2021 in the "Enterprise Mobility" category.
Key Features & Benefits of Bajaj Allianz Life Insurance
The essential core of every solid financial strategy is life insurance. One can prepare and construct their family's future with the appropriate insurance and sum insured without worrying about being there in person to see it. So, buying the best life insurance with all the benefits you need is important.
1-Day Claim Approval
if you buy Bajaj Life Insurance, you get a feature of 1-day claim approval, which saves a lot of time. Regarding the claim process, it is important to note that the company does not make you wait and shows that it is customer-centric and aims to offer the best experience.
Claim Settlement Ratio
it is one of the most important factors to consider while buying life insurance. The Claim Settlement Ratio of the Bajaj Allianz Life Insurance Company is 98.80%, according to the IRDAI Annual Report 2020–21, which is a good sign.
Solvency Ratio
The solvency ratio uses real cash flow rather than net income to assess a company's capacity to pay debt and other obligations. Every life insurer must uphold a solvency ratio of 1.5, according to IRDAI regulations. Bajaj Allianz Life Insurance has a 6.66 solvency ratio as of March 31, 2021, indicating its financial stability.
Assets Under Management
The total market value of the investments that an organisation manages on behalf of clients is known as assets under management (AUM). Companies use different definitions and calculations for assets under management. As per Bajaj Insurance, the company has INR 85.6 Crores of assets.
Trusted Brand
The company has a brilliant reputation for offering life insurance products. The company provides life insurance coverage, good returns, and a high claim settlement ratio to protect your family.
Life Insurance Plans Offered by Bajaj Allianz Life Insurance
Bajaj Allianz Life Insurance offers a wide array of insurance products that comes with various features. Now let's examine different life insurance plans.
Term Insurance Plans
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Bajaj Allianz Smart Protect Goal |
Coverage Benefits
- Affordable Premium
- Whole Life Cover
- 55 Critcal Illnesses are Covered
Eligibility Criteria
Entry Age: 18 Years - 65 Years
Sum Assured: 50 Lakhs - No Limit
|
Bajaj Allianz eTouch Online Term |
Coverage Benefits
- Flexible Premiums Paying Option
- Tax Benefit
- Premium Holiday (Skip Premium)
Eligibility Criteria
Entry Age: 18 Years - 65 Years
Sum Assured: 50 Lakhs - No Limit
|
Bajaj Allianz Saral Jeevan Bima |
Coverage Benefits
- Multiple Premium Paying Terms
- Tax Benefits
- Female Life Rebate
Eligibility Criteria
Entry Age: 18 Years- 65 Years
Sum Assured: 5 Lakhs - 25 Lakhs
|
Bajaj Allianz iSecure |
Coverage Benefits
- Life Cover for your Spouse
- Payouts in Installments
- Tax Benefits
Eligibility Criteria
Entry Age: 18 Years - 65 Years
Sum Assured: 25 Lakhs - 50 Lakhs
ULIP Plans
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Bajaj Allianz Goal Assure |
Coverage Benefits
- Option to Reduce the Premium
- Loyalty Bonus
- Maturity Benefit
Eligibility Criteria
Entry Age: 0 Year - 60 Years
|
Bajaj Allianz Smart Wealth Goal |
Coverage Benefits
- Income Benefit
- Tax Benefit
- Maturity Benefit
Eligibility Criteria
Entry Age: 18 Years - 55 Years
|
Bajaj Allianz Future Gain |
Coverage Benefits
- Partial Withdrawals
- Tax Benefits
- Maturity Benefit
Eligibility Criteria
Entry Age: 1 Year - 60 Years
|
Bajaj Allianz Fortune Gain |
Coverage Benefits
- Loyalty Bonus
- Tax benefits
- Maturity Benefit
Eligibility Criteria
Entry Age: 1 Year - 63 Years
|
Bajaj Allianz Future Wealth Gain |
Coverage Benefits
- Maturity Benefit
- Death Benefit
- Loyalty Bonus
Eligibility Criteria
Entry Age: 0 Year - 60 Years
Savings & Investment Plans
|
Bajaj Allianz Flexi Income Goal |
Coverage Benefits
- Survival Benefit
- Death Benefit
- Save Tax
Eligibility Criteria
Entry Age: 0 Year - 55 Years
Sum Assured: 3.1 Lakhs - No Limit
|
Bajaj Allianz Guaranteed Saving Goal |
Coverage Benefits
- Guaranteed Maturity Benefits
- Single Premium
- Loan Agaisnt Policy
Eligibility Criteria
Entry Age: 8 Years - 47 Years
|
Bajaj Allianz POS Goal Suraksha |
Coverage Benefits
- Matuirty Benefit
- Loan Agaisnt Policy
- Limited Premium Paying Term
Eligibility Criteria
Entry Age: 18 Years - 55 Years
Sum Assured: 30K - 25 Lakhs
|
Bajaj Allianz Guaranteed Income Goal |
Coverage Benefits
- Guaranteed Income Benefit
- Income + Lump sum Benefit
- Tax Savings
Eligibility Criteria
Entry Age: 6 Years - 60 Years
Sum Assured: 1 Lakh - No Limit
|
Bajaj Allianz Assured Wealth Goal- Wealth creation |
Coverage Benefits
- Joint Life Option
- Tax Benefits
- Guaranteed Maturity Benefit
Eligibility Criteria
Entry Age: 0 Year - 60 Years
|
Bajaj Allianz Invest Assure |
Coverage Benefits
- Death Benefit
- Maturity Benefits
- Limited Premium Paying Option
Eligibility Criteria
Entry Age: 0 Year - 50 Years
|
Bajaj Allianz Elite Assure |
Coverage Benefits
- Loyalty Bonus
- Death Benefit
- Tax Benefits
Eligibility Criteria
Entry Age: 0 Year - 55 Years
Sum Assured: 10 Times Annualized Premium
Retirement Plans
|
Bajaj Allianz Guaranteed Pension Goal |
Coverage Benefits
- Multiple Annuity Options
- Mutiple Premium Paying Option
- Joint Life Option
Eligibility Criteria
Entry Age: 30 Years - 85 Years
|
Bajaj Allianz LongLife Goal |
Coverage Benefits
- Option to Reduce Premium
- Loyalty Bonus
- Choice of 10 Funds
Eligibility Criteria
Entry Age: 0 Year - No Limit
|
Bajaj Allianz Retire Rich |
Coverage Benefits
- Guaranteed Vesting Benefit
- Mutiple Premium Paying Option
- Death Benefits in Installments
Eligibility Criteria
Entry Age: 30 Years - 73 Years
|
Bajaj Saral Pension |
Coverage Benefits
- Joint Life Option
- Easy Liquidity
- Guaranteed Regular Income
Eligibility Criteria
Entry Age: 40 Years - 80 Years
How to Buy Bajaj Allianz Life Insurance
The process of buying life insurance is simple and hassle-free. First, let's look at the Bajaj life insurance online buying process.
Buy from "RenewBuy"
- Visit the official site of "RenewBuy".
- Tap on the "Life Insurance Plan" tab.
- Select the Best Life insurance Plan.
- Fill in all the details.
- Click on "Buy Now".
- Proceed with the payment.
Buy From the Official Website of Bajaj Life Insurance
- Go to the official website of Bajaj life insurance.
- Click on the tab “Life Insurance”
- Choose the best Life insurance plan for your needs.
- Enter all the required details.
- Click on “Buy now”
- All the policy documents will be sent to your registered email address.
Claim Settlement Process Online under Bajaj Allianz Life Insurance
Claim Reporting
The first step is reporting the claim to the company. You need to fill out a form with all the relevant details. The next step is to upload the documents and submit them to the nearest branch.
Claim Processing
once you complete the above steps, the company will process your claim. It will take some time to process the claim. The processing will depend on the case and vary depending on various factors. With Bajaj Allianz, you can also track your claim by going to the official website.
Claim Settlement
according to the company, the investigation must be finished no later than 90 days after the claim notification was received, and the claim must then be resolved within 30 days following that.
Few Things to Remember:
- Read the terms and conditions thoroughly.
- Always keep your contact information up to date.
- To keep your policy active, pay your premiums on time.
- Inform your family members about your insurance coverage and how to file a claim.
- Understand your life insurance policy's specifications to determine what is and is not covered.
Documents Required for the Claim
To file a claim under a life insurance policy, the following documents are required:
- Claim Form
- Original Bajaj life insurance policy document
- NEFT mandate form signed by bank officials and accompanied by a cancelled check or bank account passbook.
- Original or attested death certificate issued by a local authority
- Evidence of the insured's present address.
- a copy of the insured's a photo ID.
Bajaj Allianz Life Insurance Contact Details
If you want to connect with the company, here is important information.
Address: Bajaj Allianz House, Airport Road, Yerawada, Pune 411 006, Maharashtra.
Email Address: [email protected]
Contact: 1800-209-7272 Monday to Sunday: 9:00 AM to 7:00 PM (IST)
For NRI’s: +91-20-35125850 (Call charges apply)
