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Bajaj Allianz Life Insurance FAQs

Term Life Insurance Premium Calculator

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Choose required coverage to secure your family’s future

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Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

Benefits

  • Does Bajaj Allianz Life Insurance offer ‘Riders’?

    Bajaj Allianz Life Insurance offers an option to add the additional benefit riders in your insurance plans to enhance the protection from uncertainty of life.

  • Are medical tests necessary while purchasing a life insurance policy?

    If your age is above the minimum age limit set by the insurance company, then you will have to go through a medical test.

  • Does Bajaj Allianz Life Insurance offer a ‘Free-look Period’?

    Bajaj Allianz Life Insurance Company offers a 15 days free-look period in which the policyholder can review the policy. The policyholder needs to provide appropriate reasons for cancelling the insurance policy within 15 days from receiving the policy documents.

  • What are the different options available to pay the premium?

    Insurance companies provide several options for premium payment. You can choose to pay monthly, quarterly, semi-annually, or annual payment options. Some insurance plans are available with a single premium.

  • How to get a duplicate copy of my Bajaj Allianz Life Insurance Policy?

    If the original policy document is lost or destroyed in any case then the policyholder needs to make a request to Bajaj Allianz Life Insurance to issue a copy of policy documents. The copy of policy documents is issued with an endorsement showcasing issuance after the loss or destruction of original documents.

Claim Settlement

  • Does Bajaj Allianz Life Insurance plans cover death due to COVID-19?

    Yes, Bajaj Allianz Life Insurance plans cover death caused by COVID-19. The plans offered by Bajaj Allianz Life Insurance also cover hospitalization expenses that take place while COVID-19 treatment.

  • Can I submit the claim documents online ?

    No, the claimant has to submit the claim form and required documents at any Bajaj Allianz Life Insurance branch only.

  • How much time does Bajaj Allianz Life Insurance take to settle a claim?

    Bajaj Allianz Life Insurance takes 30 days to deliver the claim decision. If the claim requires any type of investigation it may take 120 days for the claim to be settled.

  • How will I receive the claim payout ?

    The claimant will receive the claim payout through electronic funds transfer and will directly be transferred to the claimant’s bank account.

  • What is the right time within which the claim has to be reported?

    The claim should be reported by the earliest for smooth processing of the claim.

Overview

  • Why should I choose Bajaj Allianz Life Insurance?

    Bajaj Allianz Life Insurance offers a wide range of insurance plans and Bajaj Allianz Life Insurance has been one of the leading life insurance providers in India. Bajaj Allianz Life strives to provide the best comprehensive budget friendly insurance plan. Bajaj Allianz Life Insurance has featured a high claim settlement ratio of 98.02% in the FY 2019-20.

  • What all plans does Bajaj Allianz Life Insurance offer?

    Bajaj Allianz offers a wide range of insurance plans such as Term Insurance, Unit-Linked Insurance Plans, Child, Retirement, Investments, Savings and Health Insurance plans. Bajaj Allianz also offers a vast array of riders for added protection.

  • Is it safe to purchase Bajaj Allianz Life Insurance plan online?

    Bajaj Allianz provides life insurance plans online and offline. Purchasing a Bajaj Allainz Life insurance plan is very convenient and requires minimum paperwork. Purchasing the life insurance plan online not only saves time but saves one from the hassle of visiting the insurance company. It also provides real-time tracking.

  • What are the benefits of purchasing Bajaj Allianz Life Insurance plans?

    Bajaj Allianz Life strives to provide the best comprehensive budget friendly insurance plan. Bajaj Allianz Life offers an option to enhance the insurance policy life cover by adding riders. Bajaj Allianz Life also offers 24x7 digital customer assistance and the insurance company has robust customer care service both online and offline.

  • Which is the best insurance plan by Bajaj Allianz Life Insurance?

    All the insurance plans are different from each other and have different features and advantages. However, among all the life insurance plans provided by Bajaj Allianz, the utmost preference of one and all is Term Insurance Plan as it gives high coverage at minimal premium.

Plan

  • Does Bajaj Allianz Life allow the change of premium payment frequency for insurance plans?

    The policyholder can choose to change the premium payment frequency any time during the premium payment details by submitting a duly signed request form at the Bajaj Allianz Life branch office.

  • What are the KYC documents required to purchase a Bajaj Allianz Life insurance plan?

    Following are the documents required to purchase a Bajaj Allianz Life insurance plan:

    • Applicant’s Age Proof
    • Applicant’s Address Proof
    • Applicant’s Photo ID Proof
    • Applicant’s Passport Size Photographs
    • Applicant’s Income Proof
    • Applicant’s Medical Records

  • Does Bajaj Allianz Life Insurance offer tax benefits on the insurance plans?

    Yes, Bajaj Allianz Life Insurance offers tax benefits on the life insurance plans. Under Section 80C of the Income Tax Act, premiums paid towards a life insurance policy qualify for a deduction up to Rs.1.5 lakh. Also under Section 10(10D), income received from a life insurance plan on maturity is tax-free if the premium is not more than a certain amount of the sum assured.

  • What is the age limit to purchase Bajaj Allianz Life Insurance plans?

    Anybody from the age group between 18-25 years can apply to purchase Bajaj Allianz Life Insurance plans.

  • What are the riders offered by Bajaj Allianz Life Insurance?

    Bajaj Allianz Life Insurance offers various additional optional riders that are Bajaj Allianz Waiver of Premium Benefit Rider, Bajaj Allianz Family Income Benefit Rider, Bajaj Allianz Accidental Death Benefit Rider, Bajaj Allianz Critical Illness Benefit Rider and Bajaj Allianz Accidental Total/Partial Disability Rider.

Premium Calculator

  • Does adding any riders to my insurance plan increase the premium?

    By adding any of the optional additional riders to insurance policy you increase the premium amount because each additional rider provides additional benefits at a little extra cost.

  • What are the factors that affect the premium calculation for Bajaj Allianz life plans?

    Factors that affect premium calculation for term insurance plans are Age, Gender, Medical History, Geographic location, BMI Index and lifestyle of a person who is purchasing the insurance plan.

  • Can personal habits like smoking and consuming tobacco/alcohol affect the premium of an insurance plan?

    The premium for smokers and tobacco/alcohol consumers are generally higher because any individual who consumes tobacco/alcohol are considered in the high-risk category. The premium varies for tobacco/alcohol consumers and non tobacco/alcohol consumers.

  • Will the premium amount increase after I have purchased the policy?

    The ‘Basic Premium Amount’ will remain constant throughout the term of policy. However, the renewal premiums will change due to taxes and change in premium payment frequency.

  • What are the riders offered by Bajaj Allianz Life Insurance?

    Bajaj Allianz Life Insurance offers various additional optional riders that are Bajaj Allianz Waiver of Premium Benefit Rider, Bajaj Allianz Family Income Benefit Rider, Bajaj Allianz Accidental Death Benefit Rider, Bajaj Allianz Critical Illness Benefit Rider, etc.

Life Insurance News

User Reviews

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What users are saying
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  • Perfect Gift for my family

    My parents are getting older, I surprised them with a life insurance policy from Bajaj Allianz Life Insurance. I purchased it through InsuranceDekho; the process was smooth and a totally easy breeze. Thank you team, for helping me secure my family.

    A
    Bajaj Allianz
    By Asraf Ali
    On: Jun 24, 2024
  • Easy Process & Supportive team

    Just got my Bajaj Allianz Life Insurance with the help of InsuranceDekho. The team helped me during the whole process and made sure that the details were correct. Highly recommend Insurancedekho to everyone.

    V
    Bajaj Allianz
    By Vinita Bansal
    On: Mar 04, 2024
  • Best Insurance Company

    It was nice purchasing a Life insurance policy from InsuranceDekho. The customer care executives of the InsuranceDekho company were friendly and helpful. The company's services made my purchase of the Bajaj Allianz Life Insurance Plan smoother and more convenient. Thankyou InsuranceDekho!

    A
    Bajaj Allianz
    By Arpit Kumar
    On: Feb 07, 2024
  • Best Life Insurance Plan

    On searching several life plans, I found the Bajaj Allianz Life Insurance plan on InsuranceDekho. After Purchasing it and using it for many years, I can say that Bajaj Allianz life insurance is one of the best life plans.

    N
    Bajaj Allianz
    By Naveen Kumar
    On: Dec 11, 2023
  • Excellent Customer Service

    When I had questions about my Bajaj Allianz Insurance Policy, the customer service team at InsuranceDekho was there to provide prompt and helpful assistance. They explained all the policy details in a way that was easy to understand. It's reassuring to know that I'm not just a policyholder but also a valued customer.

    M
    Bajaj Allianz
    By Mannat Dora
    On: Oct 16, 2023

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