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Life Insurance Plans

Term Insurance

Term Insurance

Ulip Plans

ULIP Plans

Retirement Plans

Retirement Plans

Savings Plans

Savings Plans

Investment Plans

Investment Plans

Child Plans

Child Plans

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Bajaj Allianz Life Smart Protect Goal

Most Popular

A Non Linked, Non Participating, Pure Life Term Insurance Plan.

  • 3% discount on online purchase3
  • 1 Crore Cover @ 20 per day2
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Bajaj Allianz Life Goal Assure

Most Popular

A Unit-linked Non-Participating Life Insurance Plan

  • Tax Saver*
  • Return of life cover charges#
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Bajaj Allianz Life Guaranteed Pension Goal

A Non-Linked, Non- Participating, Deferred & Immediate Annuity plan

  • No Medicals
  • Quick Issuance
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Bajaj Allianz Life Flexi Income Goal

A Non-Linked, Participating, Guaranteed Income Life Insurance Plan

  • Flexibility to accumulate or receive Survival Benefits
  • Equity exposure up to 40%
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Bajaj Allianz Invest Assure

A Non-linked Participating Endowment Life Insurance Plan

  • Choice of two variants: Silver or Gold
  • Limited premium payment option
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Bajaj Allianz Young Assure

A Non-Linked, Participating, Life Insurance Plan

  • Guaranteed maturity benefit and guaranteed additions
  • Three cash instalment options
View All Life Insurance Plans

Easy to use Tools & Calculators to plan for your Life Goals!

New
Life Goal Calculator

Life Goal Calculator

Invest today to accumulate the wealth for your future Life Goals.

New
Child Education Planning Tool

Child Education Planning Tool

Plan your child's future in 3 simple steps

Most Used
Term Insurance Calculator

Term Insurance Calculator

An easy to use Term Insurance calculator that helps you determine your right amount of insurance that meet your needs and helps you get your family’s Life Goals Done

Savings to Life Goals Convertor

Savings to Life Goals Convertor

Use this calculator to know how savings from regular expenses like travel, eating out, movies can help you achieve your Life Goals.

 Financial Fitness Calculator

Financial Fitness Calculator

Financial Fitness Calculator

Immunity Score Calculator

Immunity Score Calculator

Use our immunity calculator to find out your immunity score in just a few clicks!

ULIP Calculator

ULIP Calculator

A simple ULIP calculator that helps you know, how much you need to invest today , to accumulate the amount you need to get your Life Goals Done tomorrow.

Power of Compounding Calculator

Power of Compounding Calculator

This calculator considers your investment amount, time period of investment and expected rate of return to give you an estimate of how much your investment will grow over a period of time. 

Income Tax Calculator

Income Tax Calculator

Use our Income Tax Calculator and find out your tax liability today. Explore your tax saving options and invest in tax saving investments from Bajaj Allianz Life.

Child Plan Calculator

Child Plan Calculator

Use this calculator to plan for your child’s education or marriage goals. It considers your child’s age, assumed inflation rate, your existing savings and the present-day cost of the chosen career goal or expenses for marriage to give you an estimate of the required additional amount and the annual savings needed to reach your goal. 

Retirement Calculator

Retirement Calculator

Worry-free retired life is possible with right planning. Retirement calculator is a simple tool that, based on your present income, years till retirement and the number of years for which you require pension, informs you the amount you need to invest one time or at regular intervals to live a comfortable retired life.

Investment Calculator

Investment Calculator

This calculator assesses your age, probable monthly investments, investment period and expected rate of return, to give you an estimate of the accumulated corpus with this investment.

Body Mass Index (BMI) Calculator

Body Mass Index (BMI) Calculator

Body Mass Index (BMI) is a measure to understand whether your body weight is healthy as per your height.

VIEW ALL LIFE INSURANCE TOOLS & CALCULATORS

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Why Bajaj Allianz Life Insurance

Claim Settlement Ratio of 99.02%~

Get 1 Day Claim Approval%

AAA (IS):Stable Rating by CARE$

Total Assets Under Management (AUM)**

Number of lives covered#

Solvency ratio of 581%^

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One of the most Trusted Brand’2

Life Insurance Guide

TERM
ULIP
INVESTMENT
HEALTH
RETIREMENT
CHILD
LIFE INSURANCE

Is Term Insurance Good?

Yes, absolutely. Term insurance plans are good and worth every penny you spend. Whether you are the sole provider in the family or have an earning spouse, having the protection of term life insurance 

Read More

How Does Term Insurance Work?

The current COVID-19 pandemic has revealed the uncertainty of life and highlighted the importance of term insurance plans. Whether you are the sole provider in the family or have an earning spouse, having the protection of term insurance is essential today.

Read More

Term Plan With Return Of Premium – Know All About It

Many Life insurance customers have expressed their concern on losing out their money if no claims are made during the tenure of their term insurance plan. To address this, life insurance companies are offering term insurance plans with a return of premium option.

Read More

How To Read A ULIP Benefit Illustration

As an investor and a taxpayer, you have probably wondered: "What is ULIP" A Unit Linked Insurance Plan (ULIP) is one of the many tax-saving investment options available for investors. It is a life insurance policy and an investment plan rolled into one product.

Read More

Staggered ULIP Payouts - How It Safeguards Your ULIP Investment

A unit linked insurance plan (ULIP) is a life insurance product that allows the insured to generate market-linked returns by taking advantage of different types of funds. With ULIP investment, you get life insurance protection, wealth creation opportunity and tax savings rolled into a single instrument.

Read More

ULIP Investment Plans – Frequently Asked Question

A unit-linked insurance plan provides insurance with investment in market linked funds. ULIP plans provide protection along with wealth creation. A professional fund manager handles the investment corpus and investors are provided various ULIP fund options to choose, ranging from debt to equity funds.

Read More

5 Investment Tips For Working Women

The participation of women in the workforce has risen substantially in the last few decades. Men are no more the only breadwinners in the family. From finance to management, to sales, women have excelled in all types of jobs.

Read More

Don’t Let COVID-19 Derail Your Long-Term Investment Plans

With increasing financial awareness in the country, financial products have gained wider acceptability. There are various types of investment. Some investments are made with a short-term objective

Read More

Investment Plans In India For FY 20-21

You earn and spend your income month after month, but the secret to securing your future and ensuring that you meet your life goals lies in investing. Life goals can vary from one person to the next.

Read More

How to Choose the Best Critical Illness Cover for Yourself

With increasing incidences of critical illnesses, such as heart ailments, insurance policies covering such diseases are a must-have in your insurance portfolio.

Read More

Everything You Need To Know About Critical Illness Health Insurance Plans

Being healthy is crucial to achieving any life goal. While one part of being healthy is exercising and eating healthy, the other element is to financially prepare for any illness or eventuality.

Read More

Know 4 Different Types of Health Insurance Plans

Healthcare expenses can be the biggest drag on your finances. With lack of quality public healthcare system, we invariably fall back on private medical services, which come at a higher cost. 

Read More

3 Signs You Need To Update Your Retirement Planning Strategy

After a lifetime of work, retirement is a time Indians look forward to relaxing. People prefer to spend their post-retirement life with children and family. Collective living reduces the consumption of financial resources at an individual level, which is often the motivation for people to ignore retirement planning

Read More

Types Of Pension Plans In India

There is no denying the need and importance of investing in a pension plan if you are a private sector employee, a businessman or self-employed person in India. While public sector workers are fortunate to have a state-sponsored pension system, it’s not so for a large chunk of the workforce working in the private sector.

Read More

Mistakes To Avoid While Calculating Retirement Savings

Do you think about your retirement life with fondness? Or, anticipate it with a sense of fear and worry? Perceptions are subjective, but how you think may rely a lot on the quality of your retirement planning and the size of your retirement savings.

Read More

What Is A Child Plan?

As a parent, one of the greatest joys of life is watching your children grow up into fine young people. Along with these joys, there is also the responsibility of ensuring that your children have all the resources necessary to grow into smart and responsible people.

Read More

What Is Life Insurance Policy?

Insurance penetration and insurance density, which reflects the development of the insurance sector in a country, is still very low in India.

Read More

Types Of Life Insurance Policies In India

A life insurance plan or policy allows a policyholder to enter into a formal contract with a life insurance company where the insurer agrees to pay a mutually agreed sum to the beneficiary in the event of the life assured's death or upon maturity of the plan.

Read More

Benefits Of Life Insurance Plans

On any given day, you may come across several TV commercials, newspaper and online ads, hoardings and magazines trying to tell you about the importance and benefits of life insurance.

Read More
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Investment
Update

Investment updates

Monthly Fund Performance - September 2022

Trending
@ Bajaj Allianz Life

Trending @ Bajaj Allianz Life

Bajaj Allianz Life | Solvency Ratio 2022

Happy Smart Assist Clients

Happy life goal clients

It is nice initiative taken by Bajaj Allianz Life company, great experience to connect virtually with sales person.

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Frequently Ask Questions?

 

Types of Plans

Our future plans and financial goals demand protection

What is a term insurance plan & how does it work?

A term insurance plan is a simple form of life insurance. Term plans do not have an investment component and hence provide no maturity benefits. The policyholder pays premiums to the insurance company and the insurer in return promises to pay a pre-decided amount to the nominees in the event of the policyholder’s death.

 

Since term plans do not provide maturity benefits, the plan simply terminates at the end of the policy term. Many customers have expressed their concern on losing out of money if there are no claims made during the tenure of the term insurance plan. To address this Life Insurance companies also offer Term insurance plans with ‘Return of Premium' option. It means that if the policy holder survives the policy term, then the life insurance company returns the premiums paid towards the policy, subject to certain deductions, depending upon the terms and conditions of the policy.

 

Click to read more about Term Plans.

How do I determine my suitable term insurance coverage amount?

Term insurance coverage may vary according to age. It should be calculated after taking into account the debt, assets and life goals of the family during that particular time. You can use the term insurance calculator as an indicator to get a better idea of your term insurance coverage requirements. However, it is always best to analyse your needs and current lifestyle before deciding the coverage amount required to secure your family’s life goals.

 

It is good idea to buy a term insurance plan when you are young. The premiums of term insurance are low when the individual is young as young people have a lower chance of contracting life-threatening diseases or death, thus lowering the risk for the insurer. A decision taken early can help you save a sizeable premium over the years simply because you acted on time as the premium in an insurance plan is fixed for the entire duration. The sooner, the better.

 

Click to read more about Term Plans.

What are the documents required for buying term insurance plan?

You will need a recent photo, identity and address proof, age proof, proof of income and medical reports to buy a term insurance plan.

 

The requirements may vary and additional documents may be sought depending on underwriting assessment.

 

Click to read more about Term Plans.

Is ULIP a suitable investment?

ULIP stands for Unit Linked Insurance Plan. It provides insurance cover along with returns from market linked funds. There are a variety of funds that an investor can choose from. These plans are flexible, allowing investors to make partial withdrawals or switch funds subject to policy terms & conditions.

 

ULIP caters to a wide variety of investors. Based on your risk-appetite, you can invest in the fund that  suits your future financial requirements. Risk-averse investors can invest in a debt fund while people with higher risk tolerance can invest in equity funds.

 

Click to read more about ULIPs

What is the difference between Sum Assured and Maturity Benefit in a ULIP?

ULIPs offer dual benefits of insurance and investment. Policyholders can invest in equity and debt funds or a mix of both through ULIPs. The accumulated fund value is paid to the policyholder if he/she outlives the policy. It is known as the maturity benefit. The sum assured is the amount that the nominee will get in the event of the life assured’s death during the term of the policy.

 

ULIP policies being an insurance plan have a guaranteed% sum assured as death benefit subject to policy terms and conditions. Some ULIP plans also allow policyholders to increase or decrease the sum assured. Depending on the policy, in some cases, higher of the sum assured or fund value is payable as death benefit and in some cases both can be paid.

 

Click to read more about ULIPs

How do I choose my preferred ULIP?

A key advantage of choosing a ULIP is that you can customize it as per your unique financial goals. A number of factors can help you zero in on the preferred ULIP like choosing plan basis past fund performance**, opting for more fund allocation options, choosing premium payment options of your choice, etc.

 

One may prefer a plan basis the past fund performance**- The primary reason for investment is to get the market linked return so that you can achieve your life goals and meet your financial commitments. So, before choosing a ULIP plan you may consider  its past fund performance**. The past fund performance will give you an indication of the kind of returns you may expect from your investment, even though past performance is not indicative of future performance

 

Opt for more fund options for better asset allocation- Opt for a ULIP plan, which offers a wide range of funds for asset allocation. A diverse portfolio of funds helps you in better allocation of your assets and may bring down your risk.

 

Less Charges = More Gain - The new-age ULIPs with minimal charges will invest the maximum part of your premium amount, thus helping in enhancing returns and attain your financial goals.

 

More premium payment options for convenience -A ULIP plan usually comes as a single premium plan, limited premium plan or a regular premium plan. You can opt for one that suits your requirement and financial situation.

 

Opt for a plan with maximum free switches - One of the significant benefits of a ULIP plan is the option of moving between debt or equity funds. Fund switching feature enables you to take advantage of market volatility by switching from one type of fund to another as per your needs and risk appetite. Go for a plan, which allows a maximum number of free switches.

 

Click to read more about ULIPs

Can I include my spouse in the annuity plan?

Yes, you can include your spouse in the annuity plan. Insurance companies offer options like full or half annuity to the spouse depending upon the annuity option chosen.

 

Click to read more about Retirement plans.

What is the best time to buy a child plan?

Preferably, you should purchase a child plan immediately after the birth of your child. The sooner you buy a child plan, the higher the investment period, so you get more time to benefit from power of compounding.

 

Click to read more about Child plans.  

If both the parents are working, who should ideally buy a child plan?

The primary earning parent should purchase the child plan. This means that the parent whose untimely death is likely to cause more financial distress and derail the child’s future plans should buy a child plan. However, it is wiser if both parents invest in child plan.

 

Click to read more about Child plans.

What is the suitable policy term/premium paying term for a child plan?

The policy term or premium paying terms depends on the age of the child and in the time frame in which he/she would require the funds to realize his/her dreams. For example, if your child is 2 years old and you choose a policy term of 15 years, you’re likely to reap benefits when the child becomes 17 years old, which is usually the age when they would need funds for higher education. Hence, deciding the term as per your requirement can help you plan well.

 

Click to read more about Child plans.  

Can I get regular income from savings plans?

Yes, some savings plans offer regular income options, such as Bajaj Allianz Life Assured Wealth Goal (A Non linked, Non Participating, Individual, Life Insurance Savings Plan) or Bajaj Allianz Life Flexi Income Goal (A Non-Linked, Participating, Guaranteed Income Life Insurance Plan), which provide regular monthly income to help achieve your life goals. Typically, the life assured starts receiving a regular monthly income for a specific period after the limited premium paying term comes to an end.

 

Click to read more about Savings plans.

What kind of riders are available in a savings plan?

A range of riders, such as Bajaj Allianz Accidental Death Benefit rider, Bajaj Allianz Critical Illness Benefit rider, Bajaj Allianz Accidental Permanent

 

Total/Partial Disability Benefit Rider,  Bajaj Allianz Waiver of Premium Benefit rider and Bajaj Allianz Family Income Benefit rider, are available in savings plan. You can enquire about specific riders available in the plan that you opt for.

 

Click to read more about Savings plans.

Can I avail loan under a savings policy?

Yes, most of the Bajaj Allianz Life savings plans offer loan, subject to policy terms and conditions.

 

Click to read more about Savings plans.

Life Insurance

Our future plans and financial goals demand protection

What is life insurance?

Human life is uncertain. Even though the risks to human life have reduced with the advancement of technology, hundreds still meet a premature death on a daily basis. Life insurance is a contract between an individual and a life insurance company under which the insurance company is legally bound to pay out an amount to the person nominated by the policyholder in the event of his/her death. 

 

The insurance company will have to honour the contract and pay the amount only if the policyholder pays all the premiums on time. The premiums can be paid as a lump sum i.e. single premium or in equal instalments i.e. regular premium, depending on the policy terms and conditions and the chosen premium payment frequency. A typical life insurance plan pays the nominee of the policyholder only after his/her death, but some policies also pay if the insured outlives the policy. There are hosts of life insurance plans available in India. Some just provide death benefits, while some offer maturity benefit along with the life insurance cover.

When should I buy life insurance policy?

Buying a Life Insurance plan is not just about money, it’s also about securing the Life Goals of your family in case of any unfortunate incident. The preferred time to buy a life insurance policy is when you're young and are less susceptible to life threatening diseases or events.

 

What's more beneficial is that the premium amount will also be lesser than someone who is older. Also, if the life insurance policy you choose is one that may generate returns, then if you start early you don't have to worry about attaining your financial goals when you're older as your money is already invested over a period of time and would be generating appropriate returns to meet your life goals.

What is Life Insurance premium?

Life insurance premium is the amount that a policyholder pays the insurance company to enjoy life insurance coverage and other benefits under the insurance policy. Only if the policyholder pays all the premiums on time will the insurance company honour the contract and pay the policy benefits when they are due.

 

Depending on the terms and conditions of the policy, premiums can be paid as a lump sum i.e. single premium amount or in equal instalments i.e. regular premium. Life insurance plans also give policyholders the option to pay the premiums on a monthly, quarterly, semi-annual, or annual basis. Again, this varies from one plan to another.

How much premium will I have to pay?

It depends on a number of factors – like your age, the younger you are, lesser is the premium – gender, women pay a marginally lower premium than men. Premium also depends on certain lifestyle choices – like smoking, tobacco usage, which will increase the premium amount. The tenure will also play a big role, the longer the tenure, the more the premium you pay.

Here are some useful tips:

  1. 1. Start young: When you start young, you get the same coverage at a lower premium
  2. 2. Calculate your needs: Get a plan that covers your future goals and needs
  3. 3. Ready for inflation: Consider Opting for plan that works well even 10 years down the line. It is important to factor in inflation also
  4. 4. Go online: Explore online plans. You can compare & get a plan that suits your Life Goals

How much coverage amount do I need?

The Life Cover or Sum Assured in a life insurance policy ensures the financial security of your loved ones in case of any unfortunate incident. The amount of coverage you need depends on a number of factors.

 

You may consider the factors to see how much coverage you might need:

  1. 1. Number of dependents: The higher the number of dependents, the higher the coverage amount needed.
  2. 2. Lifestyle expenses of your family: The sum assured should be able to cover the lifestyle expenses of family. This will ensure that they enjoy a comfortable life, come what may.
  3. 3. Cost of inflation: Coverage should be chosen considering inflation and rise in cost of education.
  4. 4. Also consider the liabilities you have: If you have any loans or debts, make sure the sum assured covers these same.

Is It Safe to Buy Term Insurance Online?

Yes — it is safe to purchase an online term plan. When you are opting for a term insurance policy online, you have the option to log onto the insurance company’s website directly, browse through the variety of plans they offer, and choose the one that suits your requirements. Such websites also ensure that the transactions are protected and your personal details are secure.

 

Advantages of buying plans online:

  1. 1. Compare policies clearly without bias
  2. 2. No intermediary/commission fees 
  3. 3. Securely track your premiums & more
  4. 4. All details available at your fingertips

What are the tax benefits on buying a life insurance policy?

Buying a life insurance policy is not just about ensuring security for your loved ones, it also assures certain tax benefits, such as:

 

  1. 1. Deduction under Section 80C of Income Tax Act 1961: Premiums paid for your policy can be deducted under section 80C of Income Tax Act 1961, subject to provisions stated therein
  2. 2. Exemption under section 10(10D) of Income Tax Act 1961 on Maturity amount received: Any amount received on maturity of a life insurance policy or amount received as bonus is fully exempt from Income Tax 1961 under Section 10(10D) subject to satisfaction of conditions mentioned therein. Death benefit received under policy will be tax exempt in the hands of recipient
  3. 3. Note that ULIP policies issued on or after 1 February, 2021 with premium more than Rs. 2.50 lakhs, will be treated as capital assets and gain from such policy will taxed as Capital Gain in the hands of recipient.
    In case of multiple policies, where aggregate premium is exceeding Rs. 2.50 lakhs, customer has an option to choose policies to be treated as exempt having an aggregate premium of less than Rs. 2.50 lakhs.

What are the different types of life insurance plans available in India?

Types of plans available in India:

  1. 1. Term plan
  2. 2. Unit-linked Insurance Plans (ULIPs)
  3. 3. Traditional Endowment Plans
  4. 4. Whole Life Traditional Endowment Insurance Plan
  5. 5. Child Insurance Plans
  6. 6. Pension plans

 

Term plan: It provides life cover to the life assured for a specific term and pays the death benefit or sum assured to the nominee in case of the life assured’s death as per policy terms & conditions.

 

ULIPs: Here apart from life insurance protection, your money is invested in a variety of market-linked funds to help you reap market-linked returns.

 

Traditional Endowment plan: Traditional Endowment plans are type of life insurance products that provide life insurance cover and savings opportunity to policyholders.

 

Whole Life Traditional Endowment Insurance Plan: It provides life insurance protection for entire lifetime, up to a maximum of 100 years along with a savings element

 

Child Insurance Plans: These are savings plans that help build a corpus for your child’s education.

 

Pension plans: These provide life insurance protection and help the policyholder to save wealth for a comfortable retirement.

 

Annuity plans – These give life long income to meet post retirement expenses

Life Insurance processes

Our future plans and financial goals demand protection

Is it possible to do KYC Online?

Yes, e-KYC & CKYC is possible. Bajaj Allianz Life has a 100% paperless and digital process of Know Your Customer (KYC) to enable instant customer verification at the time of issuing a life insurance policy. Customers can digitally authenticate their identity from anywhere by providing Aadhaar details at the time of policy purchase.

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How to raise a claim?

At Bajaj Allianz Life, we follow three quick and simple steps for claims:

  • Fill in the claim form, attach all necessary documents and submit it at our branch. Do reach out to our Insurance Consultant for any assistance
  • We will assess your claim, be in touch with you via SMS and e-mail , in case any further documents are required
  • Once all required documents are received and verified, we will settle the claim in accordance with terms and conditions of the policy purchased

Please visit our website, branch or ask our Insurance Consultant for the Claim form and a checklist of documents to be submitted along with it.

Can I complete the whole policy purchase process online?

Yes, it is possible to complete the entire process online. 

Can I buy multiple policies?

Yes, you may buy multiple policies based on your need, which shall be subject to underwriting decision of the insurer. It is always advisable to have sufficient life cover depending upon your income, life stage and goals. You can avail multiple policies under different segment (Terms, Savings, Health, Retirement, etc.)

However, it is important to make complete disclosure of existing insurance detail while applying for the new policy to ensure that claims under the policy are not rejected at a later stage.

Servicing

Our future plans and financial goals demand protection

What are the different Premium payments option?

Bajaj Allianz Life offers a wide range of payment options which could be categorised into ONLINE & OFFLINE Payment Options 

Online Payment Options

1)Net-banking
2)Credit card
3)Debit card
4)Wallet
5)UPI
6)EMI
7)Payment with QR Code

Offline Payment Options

  • Walk In to Bajaj Allianz Life branches
  • Walk into tied-up Banks and outlets

How can I get my policy serviced digitally?

We are committed to help you keep track of your Life Goals and manage them from anywhere, anytime with our instant and easy service options. We have a variety of digital service options available for you.

 

Life Assist Customer Portal/ App: Our one stop, self-servicing tool that enables you to do any policy related transactions on your own.

 

WhatsApp Servicing: Connect with us on WhatsApp to manage your policy in an easy manner.

 

BOING ChatBOT: BOING is your personal assistant BOT to help you manage your queries.

 

Live Chat Connect: Connect with our customer care executives for any policy related questions.

 

Instant Premium Payment: Pay your premium through preferred mode-credit/debit card, net banking, e-wallet, UPI or register your policy on auto-debit facility.

 

I-SERV Video Connect: Instant connect over a video call and enjoy a virtual branch experience from anywhere.

 

You may scan the QR code to access our Digital Offerings.

Can I modify/ change any personal details and how?

Yes, you may modify/ change your personal details such as address, contact details, email address, bank details, PAN and password. You can do the same using following options:

 

1) Life Assist – Customer Portal/ App: Log on to the portal/ app. Go to My profile section. Choose the information to be updated. Fill in the details and upload necessary documents. Press confirm and an OTP will be sent to your registered mobile number.

 

2) WhatsApp Servicing: Say Hi to us on WhatsApp Number – 8806727272. Choose More Services. Click Update Personal Info and then select the information to be updated. Fill in the details and upload necessary documents. Press confirm and an OTP will be sent to your registered mobile number.

 

3) BOING CHATBOT: Connect with BOING CHATBOT on our website. Choose More Services. Click Update Personal Info and then select the information to be updated. Fill in the details and upload necessary documents. Press confirm and an OTP will be sent to your registered mobile number.

 

You may also reach out at our Toll free number - 1800 209 7272, Customer Care Email Helpdesk at customercare@bajajallianz.co.in or Bajaj Allianz Life Branches to get details updated.

 

How can I switch funds in my portfolio digitally?

You may switch funds via Life Assist customer portal or mobile application using the following path:

 

Life Assist > My Services > Fund Switch

What are the benefits of premium Auto-payment and how can I register for it?

Auto Payment is a service to deduct a specific amount (renewal premium amount) on a recurring basis from the Policy Holder’s Bank account/ digital wallet on the due date/ preferred date, automatically. It ensures a continuous life cover and other policy benefits for the policyholder. Various other benefits include:  

  • One-time registration process
  • Trackable payments
  • Drives payment discipline
  • No need to remember policy due dates

Online premium autopay mandate can be registered using any of the below options:

1)Customer Portal-Life Assist: https://bajajallianzlifeonline.co.in/CustomerPortal/logon/index.jsp#!/login

2)Bajaj Allianz Life website: https://www.bajajallianzlife.com/

3)Open Link: https://bajajallianzlifeonline.co.in/CustomerPortal/OpenLink/index.html#/

4)WhatsApp: BALIC WhatsApp Number: 88067 27272)

5)BOING CHATBOT

6)INSTAB

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Contact Us

Bajaj Allianz Life Insurance Company Ltd.

Bajaj Allianz House, Airport Road, Yerawada, Pune - 411 006, Maharashtra

Tel No: 020-66026773

Fax No: 020-66026789

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  • Our Plans
  • Benefits of Life Insurance
  • About Us
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Retirement Plans

ULIPs

If you are looking for a financial product that provides dual benefit of life insurance cover & investment returns under one umbrella, then look no further than a Unit Linked Insurance Plan (ULIP). ULIPs serve as ideal long term financial instruments to secure one's finances and achieve their life goals.

Retirement Plans

Term Life Insurance

This is the most basic form of life insurance. It provides a high coverage amount with relatively low premium cost for a long term. Online Term Life Insurance Plans are the most affordable way to safeguard the financial security of your family against the #IfsOfLife. Term Plans today are available in multiple variants and can be tailored to suit your needs. Certain Term Plans are also available with a return of premium option or with Spouse Cover option.

Retirement Plans

Group Life Insurance

Group life insurance policies provide cover to groups of people such as employers-employees, co-workers, professionals, cooperative societies, etc. These plans are ideal in providing gratuity, annuity, insurance and savings to a group of people under one plan.

Retirement Plans

Child Plans

We want what's best for our kids, nothing less than that! A child plan ensures that your kids get exactly that. They help in planning and fulfilling the financial future of your children, right from their upbringing to their education and even their marriage! In simple terms, a Child Life Insurance Plan gives wings to your child's dream goals.

Retirement Plans

Retirement Plans

Retirement Plans begin by the life goals one has envisioned for themselves during their golden years. It ensures that you no longer need to worry about making ends meet. Investing in a Retirement Plan with Life Insurance cover today ensures complete peace of mind for tomorrow.

The 1st step to achieving your Life Goals is to literally have to describe the goal and your life in a great deal of detail. Once your life goals are defined, the next step is creating a plan to get there. Achieving life goals is a long and complex process. Based on your knowledge of what it will take to achieve your goal, the next step is to break it down into smaller components.

Most people buy Life Insurance primarily to ensure peace of mind and secure their families standard of living in case of any unfortunate event. Life Insurance ensures that your loved ones will meet their Life Goals, come what may!

A life insurance policy can prove advantageous in a number of ways besides just the risk cover. When you opt for a life insurance plan, you could stand to receive the following benefits.

Life insurance policy offers you tax saving benefits under section 80C of the Income Tax Act, 1961. Under this Act, the premiums paid towards a life insurance policy are allowed as tax deductions from your taxable income up to the tune of INR 1.5 lacs every year. The payout of a life insurance policy, if any, may also be exempt from taxation.

With a life insurance policy you stand to receive two loan-related benefits. The first is that if you meet with an untimely demise, your life insurance plan will safeguard your loved ones from any mortgages you may have, such as home loans, etc.

In case of a financial crunch, instead of surrendering your policy mid-way through your goal realization, you can easily avail loans by putting your life insurance policy up as a collateral. You can take a loan against the surrender value of your life insurance policy. This is applicable for certain types of Life Insurance products.

Some life insurance plans also provide as a useful investment and compulsory savings instrument. They allow for long term capital accumulation and appreciation whilst also protecting your family members from the ups and downs in life with tax benefits.  Everybody has life goals and Bajaj Allianz Life Insurance is here to help you achieve them.

A life insurance policy can also serve as an effective tool that aids in your financial planning at every stage of your life  goal. For example, with a child life insurance plan, you can plan for your children's upbringing, their education and even their marriages, right from the day they're born.

  • #1Top Riser Brand Amongst ‘Top 75' most valuable Indian Brands 20221
  • One of the most Trusted Brand2
  • Claims Settlement Ratio 99.02%~
  • 1 Day Claim Approval7
  • Solvency ratio of 581%^
  • AAA (IS):Stable Rating by CARE$
  • Claim deposits via electronic transfer to make process faster
  • ` 85,623 Crore Total Assets Under Management (AUM)**
  • 2.87 Crore number of lives covered#
  • Our Priority is not to sell Life Insurance, it is to serve you in the fastest & most convenient manner when you need us.

~Individual Claims Settlement Ratio for FY 2021-2022

**All figures as on 31 March 2022

^Solvency ratio 581% as at 31 March 2022 against IRDAI mandated 150%

#Individual & Group

1 Report published by Kantar BrandZ India 2022

2Survey conducted by brand equity – Nielsen in March 2020

795.49% of non-investigative individual claims approved in one working day for FY 2021-22. 1 day is counted from date of intimation of claim before 3 PM on a working day (excluding Non-NAV days for ULIP) at Bajaj Allianz Life offices

$For details refer to press release published by CARE

"What are your life goals?" is one of the most common questions that comes to one's mind while taking any step further in Life. Most just answer it by laughing it off or saying we will think about it.

A key reason that they feel this way is that they haven't spent enough time thinking about what they want from their life, and haven't set themselves any goals.

Goals keep changing as per different life stages and one has to plan meticulously for their future.

Deciding your Life Goal is all about planning to "Live your life, your way". There could be various Life Goals such as trotting the globe, becoming a food blogger to starting your own business, owning your dream house, or planning your Childs education or marriage.

L"IF"E is full of IF's... and one needs to plan to secure their loved ones and themselves against the Ifs of Life. When you opt for a life insurance plan, you transfer your family's financial risks in case of any unfortunate event to the life insurer. This allows you and your loved ones to live life fearlessly. Life Insurance protects your family's financial wellbeing from the consequences of living without an income.

When you purchase a life insurance policy, one of your major life goal gets fulfilled i.e. you purchase a sense of security. A safety net that cushions your family members from the financial impact of your sudden absence and ensures that any outstanding debts that were incurred during your lifetime don't fall upon your loved ones.

Having life goals is an important aspect in each one's life. One needs to be SMART and plan out well in advance to ensure nothing goes wrong in the future. Life insurance offers a range of products that could come in handy for meeting your financial goals.

To ensure that it is not too late, get your #LifeGoals insured with us today! It will help you smile in the face of tomorrow's uncertainties and let you live a worry free life!

Buying a life Insurance Plan is not just about money, It's about taking the right step today to work towards your Life goals and attain peace of mind. One feels the need of  buying life insurance when he or she has someone else who is dependent on their income. The best time to buy a life insurance policy is when you're young and are less susceptible to life threatening diseases or events. What's more beneficial is that the premium amount will also be lesser than someone who is older, since the mortality rates are linked to age. Also, if the life insurance policy you choose is one that grows your money, then if you start early you don't have to worry about attaining your financial goals  when you're older.

Let's take an example to understand this:

Gaurav aged 30 years has taken a Bajaj Allianz Future Gain policy for a Policy Term (PT) of 30 years. Gaurav has decided to pay Rs.2500 as monthly premium for a premium payment term of 30 years. The Sum Assured chosen by him is Rs.4,50,000. Gaurav will receive Rs.2,709,720 lakhs (the bond fund {ULIF02610/07/06BONDFUNDLI116} value at assumed investment rate of 8%) OR Rs.1,350,016 lakhs (the bond fund value at assumed investment rate of 4%) on maturity.

In case of Gaurav's unfortunate death, in the 14th policy year, his nominee will receive Rs.4,92,807 lakhs (at 4%) or Rs.6,61,701 lakhs (at 8%) as death benefit***

Disclaimer: The returns indicated at 4% and 8% are illustrative and not guaranteed and do not indicate the upper or lower limits of returns under the policy. The sum assured amount and/or other benefit amount indicated, if any, is a non-guaranteed illustrative figure and is subject to policy terms and conditions and claim scrutiny.

***Death benefit would be higher of the sum assured or regular premium fund value PLUS higher of top-up premium sum assured or top-up premium fund value, if any, subject to policy terms and conditions. The death benefit is subject to the guaranteed death benefit, which is 105% of the total premiums paid including top-up premiums paid, if any, till the date of death. GST is charged based of type of the Policy, communication address of the Policy Holder. This may change subject to change in rate / state in address of the policy holder as on date of adjustment.

The premium you pay is decided by a number of factors. Some of them are your age, the younger you are, the less premium you pay. Your gender, women pay a marginally lower premium than men. Premium will also depend whether or not you are a tobacco user, if you smoke or chew tobacco, you'll end up with a higher premium amount. The tenure will also play a big role, the longer the tenure, the more the premium you pay.

Useful Tips to buy Life Insurance

Getting the best life insurance policy ultimately boils down to these four pointers.

1. Start young:

When you start young, you get the same coverage at a lower premium, thus allowing you a long-term, low-cost cover at minimal premiums.  The earlier you plan for your life goal the better it is for you.

2. Calculate your needs:

Getting the best life insurance policy means getting a plan that covers  all your needs and helps you work towards your life goals.  Thus to get a good plan, understanding your needs first, becomes of utmost importance.

3. Ready for inflation:

An ideal life insurance policy is the one that is inflation-proof, ensuring a comfortable life to your loved ones, even 10 years down the line!

4. Go online:

Nowadays, the best life insurance plans are available online. This is because they offer the same coverage as their offline counterparts, but at differential premium rates.

The Life Cover or Sum Assured is one of the most critical aspects of a life insurance policy. This is because, in case of any unfortunate event, it's the coverage amount that will safeguard the financial interest of your family. It's important to note that the coverage amount needed will differ from one person to another depending on a few factors, some of which are stated below:

1. The number of dependents:

The coverage amount is designed to take care of your loved ones in case you're no longer around to do so yourself. Therefore, the higher the number of dependents, the higher the coverage amount needed.

2. The lifestyle expenses of your family:

When fixing on your sum assured, make sure you take into account the present lifestyle expenses of your family. This will ensure that they enjoy a comfortable life, come what may.

Take into consideration the cost of inflation: Fixing on a coverage amount based on costs today would be a dire mistake, because this amount will not support your family's expenses 10 or 15 years down the line till the next family member comes of earning age. Also, costs of education escalate faster than normal inflation rates. Hence, one must fix on a coverage amount that includes the cost of inflation.

3. Also consider the liabilities you have:

The last thing you want is for your family members to bear the burden of your liabilities. So, if you have any loans or debts, make sure the sum assured covers these costs.

Disclaimers -

#Survey conducted by brand equity – Nielsen in March 2020

*T& C apply – The guaranteed benefits are dependent on the purchase price & annuity option chosen. For more details please refer to sales brochure.

1Product feature/benefit mentioned above are dependent on variant

2Above illustration is considering Male aged 25 years | Non-Smoker | Life Cover Variant | Policy term (PT)– 30 years | Premium Payment Term (PPT) – 30 years | Sum Assured opted is Rs. 1,00,00,000 | Online Channel | Medical rates | Annual Premium Payment Mode | Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws, and any extra premium and is for illustrative purpose only.

33% Discount is available for regular premium and limited premium payment frequency under all variants of Bajaj Allianz Life Smart Protect Goal - A Non Linked, Non-Participating, Pure Life Term Insurance Plan

^Subject to eligibility and no adverse disclosure

^^As per variant opted. The variant chosen at inception cannot be

Best Seller refers to Bajaj Allianz Life Insurance plans which have been bought by large number of customers through the website since their launch.

~Tax benefits as per prevailing Income tax laws shall apply. Please check with your tax consultant for eligibility.

**Past performance is not indicative of future performance. 

##Our policy covers COVID 19 claims subject to policy terms and conditions being met