Bajaj Allianz Life Insurance Plans:
Bajaj Allianz Life Insurance Child Plans:
Bajaj Allianz Child Insurance helps you build fixed financial growth that can be used for your child’s life goals. They also come with a life cover ensuring that the financial needs of your child, even if something happens to you.
i. Bajaj Allianz Young Assure
Bajaj Allianz Young Assure is a traditional savings insurance plan that will help you become an investor thus ensuring your child achieves their life goals. It is a traditional, participating, regular, and limited premium payment endowment plan, which enables you to plan for the financial milestones of your child’s growing years.
Eligibility:
- Entry Age: 18 years
- Maturity Age: 60 years
- Sum Assured: It is 10 times more than the actual annual income
- Policy Term: 10, 15, and 20 years
- Premium Payment Term: yearly, half-yearly, quarterly, and monthly.
ii. Bajaj Allianz Life Long Assure
Bajaj Allianz Lifelong Assure is a whole life insurance plan, is designed to offer financial support to you as your child moves ahead in his/her life goals journey. Your child’s life goals will receive financial support, even after your death, as this plan offers a guaranteed death benefit of up to 300% of the sum assured depending on the Premium Payment Term chosen.
Eligibility:
- Entry Age: 10 years
- Maturity Age: 55 years
- Sum Assured: Rs. 1 Lakh
- Policy Term: 10, 15, and 20 years
- Premium Payment Term: yearly, half-yearly, quarterly, and monthly.
Bajaj Allianz Life Insurance Retirement Plans:
Bajaj Allianz Life retirement plan provides you return over the long term that can help you meet your life goals. It allows you to save in a periodic way as long term, which helps you achieve your dreams.
i. Bajaj Allianz Life Saral Pension Plan
Bajaj Allianz Life Saral Pension presents a simple yet effective way of achieving your retirement goals. Bajaj Allianz Life Saral Pension is a single premium, non-linked, non-participating, individual immediate annuity plan, which provides a regular income and also returns the purchase price on death.
Eligibility:
- Entry Age: 40 years
- Maturity Age: 80 years
- Sum Assured: It depends on the annuity amount
- Premium Payment Term: Single premium.
ii. Bajaj Allianz Life Guaranteed Pension Goal
Bajaj Allianz Life Guaranteed Pension Goal assures your Lifestyle goals by giving guaranteed income throughout life as per your choice and need. Hence, we need to have a guarantee that our lifestyle goals are done even in our second innings of life- retirement.
Eligibility:
- Entry Age: 30 years
- Maturity Age: 85 years
- Sum Assured: It depends on the annuity amount
- Policy term: 5, 10 years
- Premium Payment Term: Single premium.
iii. Bajaj Allianz Life LongLife Goal
Bajaj Allianz Life LongLife Goal is a non-participating individual regular premium payment Unit Linked Insurance Plan. It invests your money in an investment folder selected by you and provides for market-linked returns over the long term, to help you accumulate a healthy retirement.
Eligibility:
- Entry Age: 18 years
- Maturity Age: 99 years
- Sum Assured: Rs. 25,000
- Policy term: 10, 25 years
- Premium Payment Term: yearly, half-yearly, quarterly, and monthly.
Bajaj Allianz Life Insurance ULIP Plans:
Unit Linked Insurance Plan is a type of life insurance plan, which offers you the benefits of both investment and insurance. ULIP plan gives you an opportunity for wealth creation while providing you the security of a life cover. ULIPs are among one the preferred choices for securing your long-term life goals.
i. Bajaj Allianz Life Insurance Smart Wealth Goal
Bajaj Allianz Life Insurance Smart wealth goal benefits return of mortality charge, the return of allocation charges, and fund boosters, which may approve faster wealth creation. It offers multiple investment strategies to allow you to achieve your life goals. This plan offers three types also contain wealth, child wealth, and joint life wealth.
Eligibility:
- Entry Age: 18 years
- Maturity Age: 85 years
- Sum Assured: 10 times annualized income
- Policy term: 10, 30 years
- Premium Payment Term: yearly, half-yearly, quarterly, and monthly.
ii. Bajaj Allianz Life Insurance Future Gain
Bajaj Allianz life insurance future gains maximum benefits at minimum cost. A unit-linked insurance plan allows by ensuring maximum allocation of your premium towards investment returns.
Eligibility:
- Entry Age: 18 years
- Maturity Age: 70 years
- Sum Assured: 10 times annualized income
- Policy term: 10, 15 to 30 years
- Premium Payment Term: yearly, half-yearly, quarterly, and monthly.
iii. Bajaj Allianz Life Insurance Fortune Gain
Bajaj Allianz fortune gain life insurance plan benefits you with a single premium product that helps you enter and stay invested in market-linked funds for long-term, comes with low allocation charges ensuring that up to 100% premium is allocated towards investment, and offers a life cover.
Eligibility:
- Entry Age: 18 years
- Maturity Age: 70 years
- Sum Assured: 1.25, 1.1 times single premium
- Policy term: 7, 30 years
- Premium Payment Term: single.
iv. Bajaj Allianz Life Insurance Future Wealth Gain
Bajaj Allianz life insurance future wealth gain is a non-participating, unit-linked regular/limited premium payment endowment plan, offers the protection and growth to fulfill your expectations from your investments.
Eligibility:
- Entry Age: 18 years
- Maturity Age: 75 years
- Sum Assured: 7 times annual premium
- Policy term: 5, 7, 10, 15 years
- Premium Payment Term: yearly, half-yearly, quarterly, and monthly.
Bajaj Allianz Life Insurance Savings Plan:
i. Bajaj Allianz Flexi Income Goal
Bajaj Allianz Life Flexi Income goal is an investment plan that offers protection and flexibility to meet the changing needs of your child through higher education and financial obligations.
Eligibility:
- Entry Age: 18 years
- Maturity Age: 80 years
- Sum Assured: Rs. 1 Lakh
- Policy term: 5, 10, 12, 25 years
- Premium Payment Term: yearly, half-yearly, quarterly, and monthly.
ii. Bajaj Allianz Guaranteed Saving Plan
Bajaj Allianz Guaranteed saving plan is a guaranteed savings goal, our non-participating endowment plan, you just have to pay once to achieve your guaranteed life goals.
Eligibility:
- Entry Age: 18 years
- Maturity Age: 75 years
- Sum Assured: 1.5 and 10 times annual premium
- Policy term: 5, 7, 10 years
- Premium Payment Term: single.
iii. Bajaj Allianz Guaranteed Income Plan
Bajaj Allianz Life guaranteed income plan is a non-linked, non-participating endowment plan that offers an option to take policy benefits include extended life cover and increasing income, and to achieve your life goals with certainty.
Eligibility:
- Entry Age: 18 years
- Maturity Age: 75 years
- Sum Assured: 1.5 and 10 times annual premium
- Policy term: 5, 7, 10 years
- Premium Payment Term: single.
iv. Bajaj Allianz POS Goal Suraksha Plan
Bajaj Allianz Life POS Goal Suraksha is a non-linked, non-participating limited premium payment savings plan that secures you and your family with a guaranteed sum at maturity.
Eligibility:
- Entry Age: 18 years
- Maturity Age: 65 years
- Sum Assured: Rs. 25 lakhs
- Policy term: 5, 7, 8, 10, 12 years
- Premium Payment Term: yearly, half-yearly, quarterly, and monthly.
FAQ’s of Bajaj Allianz Life insurance
Will I get my premium back at the end of policy period?
Bajaj Allianz is the first life insurance company to introduce the concept of Return of Maturity Charges (RoMC) in which the total amount of mortality charges deducted to provide life cover till maturity of the policy term would be added back to the fund value at the end of the policy term. In this way the premiums paid during the policy period would be returned to the customer at the end of the policy period in case of ULIPs from Bajaj Allianz life insurance. No premiums paid during the policy period will be refunded in case of pure term insurance plans.
Do I need term insurance if I am unmarried?
Yes. Every earning individual needs to have a term insurance plan irrespective of married or not. Term insurance should be taken to protect your family’s financial condition in case of your sudden demise. Term insurance should be taken as soon as you start earning irrespective of your marriage. The early you take the term insurance plan, the cheaper premium you would end up paying.
What sum assured should I select?
The main important thing while deciding on purchasing the term insurance plan is the sum assured that needs to opt. As a basic, the sum assured under your term insurance plan should be 15-20 times your annual income. It is important to take your liabilities and expenditure before deciding on the sum assured for the term insurance plan. For more details on the sum assured to be selected for your term insurance.
Can I buy term insurance online?
Yes, you can buy term insurance online where the top life insurance companies display their life insurance plans with the premiums to be paid as well as the features. For more assistance on the procedure to purchase term life insurance plans online please call our toll-free number 1800-123-4003 and get assistance from our life insurance expert.
Does Bajaj Allianz offer joint policies for Spouses?
Yes. Bajaj Allianz offers joint insurance policies in which the spouses can be covered under the same term insurance plan. It has smart protect goal, a non-linked, non-participating, pure life term insurance plan, is one such product that offers cover for both self and spouse. The sum assured for spouse would be less than or equal to that of the self and on the event of death of spouse or self the death benefit claim would be paid to the survivor and the policy would continue till the death of the survivor.
I’m a smoker and drinker, what would be my term insurance premium?
The term insurance premiums would be on the higher side for smokers and drinkers as they pose a high risk in terms of mortality rate. People with smoking and drinking habits have a high chance of death as they would be susceptible to illnesses such as cancer, heart attack etc. which would lead to death ultimately over a period of time. So the risk of insurance companies would increase if the customers are avid smokers and drinkers. Hence the premium to be paid by smokers and drinkers would be slightly higher. For more information on the premium to be paid by smokers and drinkers please visit our portal and have a word with our life insurance expert.
What happens if I don’t pay my term insurance renewal premium?
If the term insurance renewal premium is not paid on time within the renewal date, the life insurance company would provide a grace period of up to 30 days from the renewal date. If the insured customers fails to make the renewal payment within the grace period the life insurance policy would lapse and the benefits accrued by the customer lapse along with the policy.
What happens if the nominee dies before the policyholder in term insurance policy?
Nominee is the person nominated by the insured policyholder to take care of the claim proceedings and distribute them to the legal heirs. In case the nominee dies before the policyholder in the term insurance policy, the insured customer has the option to change the nominee under the term insurance policy. The final claim proceedings from the life insurance policy would be paid to the legal heirs in case the nominee is dead.
Will my premium increase after taking term insurance policy?
The premium under the term life insurance policy would be constant throughout the policy period. The life insurance premium to be paid by the customer throughout the policy period would be notified at the beginning of the policy term and any changes to the policy would reflect as change in premium. In general the term insurance premium would not increase after taking the term insurance policy.
Is medical examination compulsory for Bajaj Allianz term life insurance policy?
Yes, in most of the cases, depending on the factors such as sum assured opted by the applicant, medical history of the applicant decide on the medical examination requirement. The medical examination has to be undergone by the customer at the preferred network diagnostic centres as specified by Bajaj Allianz Life Insurance Company. In most of the case life insurance would conduct tele medicals and would insist for physical medicals depending on the declarations made by the customer in the proposal form.
What is Grace period?
Grace period is the amount of time provided by the insurance company to the policyholder to make the renewal payment after the expiry of the life insurance policy. In general 30 days grace period would be provided to the policyholders from the date of the renewal to make payment and enjoy the benefits of life insurance policy.
What is the difference between Nomination and Assignment?
A nomination is an act by which the policyholder can authorize another person to receive the policy money in the event of the death of the policyholder. The person authorized in this way by the policyholder is known as Nominee. The assignment is a method by which the policyholder can transfer the right, title and interest in the policy to another person either wholly or in part. An assignment can be made by an endorsement on the policy document or as a separate deed. Assignment can be absolute or conditional contingent upon the happening of a specified event.
Can I add/delete riders under Bajaj Allianz term insurance Plans?
Yes, you can add or delete the riders under your term insurance plans subject to approval from the insurance company. Most of the life insurance plans from Bajaj Allianz do not permit the customers to have midterm addition or deletion of riders under their term insurance plans.
Is the claim paid in case of accidental death?
Yes, the claim is paid in case of the accidental death of the policyholder. If the Accidental total permanent benefit rider is opted by the customer then the accidental death benefit would be paid in addition to the base sum assured.
How to do Bajaj Allianz Life Insurance Policy Document Download?
For downloading the Bajaj Allianz life insurance policy document login to the website by entering required details such as Policy Number, Name, and Phone number, etc. Go to Policy Document download options as Premium Receipt, Premium Notice, Unit Statement, Premium Paid Certificate, and GST Invoice. Select which policy document to download and print.
How to do Bajaj Allianz Life Insurance Policy Renewal Online?
- Visit the Bajaj Allianz life insurance website and click on the option to renew your life insurance policy.
- Enter the required details that include your policy number, mobile number, and email address.
- Renew life insurance policy through multiple options using Net banking, Credit card, Debit card, UPI wallets, and bill pay online.
How Can I Check Bajaj Allianz Life Insurance Policy Details With Policy Number?
You can check Bajaj Allianz life insurance policy details with policy numbers easily in simple steps
- Step1: Visit the official website of Bajaj Allianz Life Insurance
- Step2: Click on the Login portal by entering the details such as register email id, mobile number, user id, etc.
- Step3: OTP will receive the registered mobile number
- Step4: After successful login, enter the policy number. You can check the policy details displayed on the screen.